Israel has raised its defense readiness amid reports that US President Donald Trump has ordered a major strike on Iranian infrastructure and energy facilities.

An Israeli official told Channel 12 News that tensions in the region are exceptionally high.

“We are very close to a decision point,” the official said. The Wall Street Journal reported late Friday that Trump has ordered a new attack on Iran, but according to the Israeli official, no final decision has yet been made by the White House.

According to Israeli assessments, Trump is still weighing the scope of the operation and how it would be carried out. At this stage, it remains unclear whether he would seek to involve Israel from the outset or initially rely solely on American forces.

However, Israeli defense officials believe that even if the US launches an attack on Iran on its own, there is a high likelihood that Iran would retaliate by firing at Israel—a scenario that could quickly draw Israel into the conflict.

Senior Israeli officials warned that if Tehran launches missiles at Israel, it “will pay a very heavy price.”

Against the backdrop of the rising tensions, the U.S. State Department issued an updated travel advisory for American citizens in the Middle East, urging increased vigilance, warning of possible flight disruptions, and recommending that travelers consider leaving the region if the security situation deteriorates.

Tehran has also escalated its rhetoric. Mohammad Mokhber, a senior adviser to Supreme Leader Ali Khamenei, warned that any strike on Iranian infrastructure would trigger what he described as a severe response that would undermine US interests throughout the region.

(YWN’s Jerusalem desk is keeping you updated after tzeis ha’Shabbos in Israel)

Minnesota’s ban on cryptocurrency ATMs took effect Saturday after state officials said residents had reported losing nearly $1 million in scams involving the machines since 2023.

Democratic Gov. Tim Walz signed legislation on May 4 banning the installation of crypto ATMs, also known as kiosks, which are commonly found in gas stations and convenience stores. Existing machines must be removed from the state by Dec. 31.

The ATMs were being used by criminals to disproportionately target seniors, according to state officials.

Scammers often impersonate law enforcement officers and pressure elderly victims into using nearby crypto ATMs to send money for a loved one’s supposed release from jail, according to Paul Haas, an investigator with Minnesota’s Department of Commerce.

“When victims call our office after a crypto kiosk scam, you can hear the panic and shame in their voices,” Haas said. “By the time victims realize they were deceived, the emotional and financial damage can be devastating.”

Officials also said many of the thefts go unreported because the victims are embarrassed at having been tricked.

Last year alone, there were 70 cases of people falling victim to these kinds of fraud schemes, investigators said. More than $540,000 was lost and the average loss per transaction was nearly $6,800, according to state officials.

Crypto ATM transactions cannot be reversed and are often difficult to trace once the funds reach a scammer’s digital wallet, according to officials in several other states that have reported similar problems.

Transactions made with cryptocurrency are generally irreversible because once they are made, they are recorded on a decentralized blockchain, meaning no central institution can simply cancel them or recover the funds.

Traditional bank transactions, by contrast, pass through centralized financial institutions that may be able to freeze, dispute or reverse certain payments.

U.S. consumer-protection laws also require banks to investigate certain unauthorized electronic transfers, while credit-card customers generally have the right to dispute unauthorized charges through the chargeback process.

Crypto transactions generally do not carry comparable consumer protections, though Congress is attempting to bring digital currency under more stringent federal regulation.

The crypto ATM ban in Minnesota comes as the state faces broader scrutiny over allegations of widespread fraud involving government-funded programs, prompting a growing federal crackdown and renewed criticism of Walz’s oversight of state agencies.

On July 21, the Trump administration froze more than $1 billion in federal Medicaid funding to California and Minnesota over suspected fraud.

The Centers for Medicare & Medicaid Services (CMS), led by Mehmet Oz, is withholding more than $200 million from Minnesota while federal officials review what they described as high-risk Medicaid claims and documentation deficiencies.

Days after that announcement, the Department of Justice said four Minnesota men pleaded guilty to stealing $2.2 million from the state’s program to help homeless people. The program was primarily funded through Medicaid.

Nearly 12 million bottles of Rohto eye drops have been recalled over concerns they may not be sterile, according to a Food and Drug Administration (FDA) enforcement report.

The voluntary recall was issued by Vietnam-based Rohto-Mentholatum and includes eye drops marketed to relieve redness, dryness and eye strain.

According to the FDA, the recall affects 11,960,623 cartons of Rohto Cooling Eye Drops distributed nationwide.

The FDA said the products were recalled because of a “lack of assurance of sterility,” meaning the eye drops cannot be guaranteed to be free of potentially harmful microorganisms.

Federal regulators classified the action as a Class II recall, meaning use of the products could cause temporary or medically reversible health effects, but serious adverse health consequences are unlikely.

The recall covers eight Rohto Cooling Eye Drops products — including ALL-IN-ONE, Max Strength, Optic Glow, Digi Eye, Dry Aid and Cool Relief — in single and twin-pack configurations.

Affected products carry expiration dates ranging from July 2025 through February 2029. Consumers should compare the lot number and expiration date on their packaging with the manufacturer’s recall notice or the FDA’s website to determine whether their product is included.

The eye drops were manufactured by Rohto-Mentholatum in Vietnam and distributed by The Mentholatum Company, based in Orchard Park, New York.

Consumers whose products are included in the recall should stop using them immediately and either dispose of them or return them to the place of purchase for a full refund.

The recall comes after the FDA recently classified the recall of more than 2.5 million bottles of a prescription steroid eye medication as a Class II action because of concerns about foreign material found in certain lots.

Lupin Pharmaceuticals Inc. voluntarily recalled 2,530,182 bottles of prednisolone acetate ophthalmic suspension USP, 1%, after the presence of a foreign substance was identified, according to an FDA enforcement report.

Last month, the FDA also announced the recall of certain lots of generic cetirizine hydrochloride tablets, commonly sold as generic versions of Zyrtec, over concerns they may have been cross-contaminated with another medication that could trigger potentially life-threatening reactions.

FOX Business’ Brittany Miller and Bonny Chu contributed to this report.

The U.S. Department of Agriculture has issued a public health alert for a frozen burrito sold at Costco because officials claim it contains an undeclared allergen.

A product labeled as Red’s Steak Cilantro and Lime Burrito, which was produced on June 19, contains egg not declared on its label.

The burritos were shipped to Costco stores in Illinois, Michigan and Minnesota.

A recall for the product wasn’t issued because the burritos are no longer for sale, but the USDA said they could be inside customers’ freezers.

The problem was discovered after a consumer flagged the issue to the company after they realized there was egg inside the burrito, and the company notified the USDA’s Food Safety and Inspection Service.

No adverse reactions have been reported after eating the burrito.

The burritos were both packaged individually and sold 10 in a 3 lb, 2 oz. carton.

The product lots for the affected burritos include: L1 SD6170 1503, L1 SD6170 1535, L1 SD6170 1606, L1 SD6170 1639, L1 SD6170 1717, L1 SD6170 1750, L1 SD6170 1831, L1 SD6170 1908, L1 SD6170 1954, L1 SD6170 2031, L1 SD6170 2108, and L1 SD6170 2130 on the side of the label.

They also have “EST. 46069” inside the USDA mark of inspection.

Anyone who finds one of the burritos in their freezer is urged to throw them out or return them to where they were bought.

Red’s and Costco did not immediately respond to FOX Business’ requests for comment.

A one-of-a-kind miniature Sefer Torah, measuring just 26 centimeters (10 inches) tall and featuring letters inscribed by many of the generation’s leading gedolei Torah, was presented as a special gift to the family of Brazilian philanthropist Alberto Abraham Safra in honor of his son’s bar mitzvah.

The extraordinary gift, presented by Yeshivas Ateres Shlomo, also included an intricately crafted miniature replica of the magnificent Aron Kodesh that stands in the yeshiva’s main bais medrash at the Safra Campus in Rishon LeZion.

The presentation came during a series of lavish bar mitzvah celebrations held in Eretz Yisroel over the past several days for the son of Safra, a prominent supporter of Torah institutions around the world. Hundreds of family members, friends, rabbanim, roshei yeshiva, and benefactors traveled from across the globe to participate in the festivities, which featured multiple events honoring both the bar mitzvah bochur and the Safra family’s longstanding commitment to the Torah world.

The centerpiece of Yeshivas Ateres Shlomo’s gift was what it called the “Torah of the Gedolim”—an exquisitely written miniature Sefer Torah measuring only 26 centimeters in height. The Torah was handwritten by a master sofer, with numerous leading gedolim personally writing individual letters as a merit for the bar mitzvah bochur and his family.

The Sefer Torah was housed in a traditional Sephardic-style Torah case engraved with the handwritten blessings and signatures of many of the generation’s foremost rabbinic leaders, making it both a sacred Torah scroll and a lasting keepsake of their personal brachos.

The presentation was made even more remarkable by its display. The Torah and its ornate case were placed inside a meticulously crafted miniature Aron Kodesh, built as an exact scale replica of the famous ark that adorns the main beis medrash of Yeshivas Ateres Shlomo at the Safra Campus in Rishon LeZion.

{Matzav.com}

An emotional scene unfolded in Haifa as Rav Shaul Alter, Rosh Yeshivas Pnei Menachem, paid a nichum aveilim visit to one of his talmidim, Rav Yisrael Stern, who is sitting shivah following the passing of his wife, Mrs. Elisheva Stern, a”h, daughter of Rav Eliezer Menachem Braun, z”l.

During the visit, the grieving husband shared the final moments he spent with his wife, recalling her deep devotion to Birchos HaShachar.

“Every day she would call me so I could answer amen to her Birchos HaShachar,” he said. “On her final day, we recited Birchos HaShachar together, and then we said Shema Yisrael together.”

Deeply moved, Rav Shaul offered words of emunah and consolation to the bereaved family.

“We must continue thanking Hashem until our very last breath. The Healer of the brokenhearted—only He can bind up their sorrow. What can a human being possibly say? What words are there?” he said.

Rav Shaul then reflected on the unique closeness to Hashem experienced by those whose hearts have been broken, citing the verse, “Karov Hashem l’nishberei lev—Hashem is close to the brokenhearted.”

“You don’t feel it,” he said, “but the brokenhearted are truly the ones closest to Him. ‘Karov Hashem l’nishberei lev‘—we have to make use of that.”

He added that this special closeness is not determined by pedigree, wealth, status, or public prominence.

“Karov Hashem l’nishberei lev—not grandchildren of great people, not wealthy individuals, not those with distinguished lineage, and not politicians,” Rav Shaul said.

His words were delivered in an atmosphere of profound grief, while offering the family comfort, faith, and encouragement to draw strength from their closeness to Hashem during their time of mourning.

{Matzav.com}

Financial regulators in the Trump administration are proposing changes to a banking industry rule that critics say has been diverted from its original purpose to funneling funds from financial institutions to left-wing advocacy groups.

The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation on Friday announced a proposed rule that would make changes to the Community Reinvestment Act (CRA). The law was enacted in 1977 to prevent so-called “redlining” – a practice in which some banks wouldn’t give loans in low-income or minority neighborhoods, or offer depository services.

Among the proposed changes are provisions aimed at increasing the focus on lending and ensuring community development grants and donations go to the intended communities, rather than being diverted to other activities. Critics have argued that banks have met regulators’ requirements in part by donating to advocacy groups.

Comptroller Jonathan Gould said in a post on X that, “Under the Biden Administration, the Community Reinvestment Act became an onerous tax on community banks that failed to drive investment into the very regions they were meant to serve.”

“Today’s proposed reforms will help ensure the CRA is no longer used as a social credit score for banks, nor as a funding mechanism for activist NGO networks under the guise of community development,” Gould wrote.

Key GOP lawmakers in Congress who serve on panels with oversight of the financial services committee applauded the regulatory move on social media.

Rep. Andy Barr, R-Ky., who is a member of the House Financial Services Committee and chairs the subcommittee on financial institutions, said, “For years, left-wing activist groups have weaponized the Community Reinvestment Act to pressure financial institutions far beyond Congress’s original intent.”

“Instead of expanding access to credit, the CRA has too often become a tool to limit access to capital. I welcome the Trump Administration’s commonsense reforms to restore the law to its intended purpose and refocus it on lending and community investment,” Barr added.

Sen. Katie Britt, R-Ala., who serves on the Senate Banking Committee and chairs its subcommittee on housing and community development, said in a post on X that she welcomed the proposal to “restore a more practical” framework for the CRA.

“Community banks should be focused on expanding access to credit, supporting small businesses, and strengthening local communities, not navigating unnecessary regulatory burdens or subsidizing activist causes,” Britt said.

Conservative activist Christopher Rufo called the proposed rule a “big deal” and a “win for Scott Bessent” in a post on X, adding that the CRA “has been used as a mechanism for shaking down banks to fund left-wing activism.”

The proposed rulemaking from the OCC and FDIC would aim to ease burdens on banks with $10 billion or less in assets, giving them more flexible supervision without subjecting them to data collection, maintenance and reporting requirements.

It would also focus regulation on credit services, excluding deposit services, and streamline other requirements to improve the clarity, transparency and objectivity associated with CRA evaluations for banks of all sizes.

Gould added that the OCC will continue to implement the vision of President Donald Trump and Treasury Secretary Scott Bessent by “taking steps to reduce unnecessary regulation and propel economic growth on Main Street.”

YERUSHALAYIM — A former employee at the Israeli Prime Minister’s Residence has filed a 300,000-shekel ($80,000) lawsuit against the Prime Minister’s Office, alleging that Sara Netanyahu subjected him to humiliation, verbal abuse, and workplace mistreatment throughout his employment.

The lawsuit, filed in the Regional Labor Court in Yerushalayim by Yechiel Ohev Ami, names the Prime Minister’s Office as the defendant and claims the alleged abuse was carried out by the prime minister’s wife.

According to the complaint, Ohev Ami, 61, who says he is the father of a son on the autism spectrum, began working in September 2025 as an operations assistant at the Prime Minister’s Residence. He alleges that from the outset he was instructed to follow Sara Netanyahu’s personal directives and that his workdays often began at 6:00 a.m. and continued until the early hours of the following morning.

The lawsuit claims that each morning he was required to wait in the security guards’ room until Sara Netanyahu woke up, prepare her breakfast exclusively in the guards’ kitchen on the lower floor, and serve it in multiple stages according to highly specific instructions. He alleges that even minor deviations—such as the plate used to serve an egg or the way vegetables were cut—resulted in yelling, insults, and verbal abuse.

Ohev Ami further alleges that he was instructed daily to clean the soles of dozens of pairs of shoes belonging to Binyomin and Sara Netanyahu using disinfectant wipes, while being careful not to place his hand inside the shoes, and to insert rolled-up paper into each pair. He also claims he was required to wipe down Sara Netanyahu’s handbag, suitcase wheels, dishes, and other household items. According to the lawsuit, he was also required to wash his hands and remove his shoes every time he entered the residence.

He alleges that whenever Sara Netanyahu hosted guests at the official residence on Balfour Street, he was required to remain on duty until the meetings concluded, even if they continued into the early morning hours. He also claims that she personally met with senior military and Shin Bet officials.

According to the complaint, the alleged verbal abuse intensified during the period of anti-government demonstrations outside the Prime Minister’s Residence. He claims Sara Netanyahu repeatedly shouted insults including, “Who’s the idiot?” “Who’s mentally disabled?” and “Who’s the fool?”

The lawsuit further alleges that he was required to crawl across the kitchen floor while cleaning it with small disinfectant wipes, wipe down silverware before washing it, and comply with numerous other highly detailed instructions. He claims that any mistake was met with shouting and profanity.

In one of the most serious allegations, Ohev Ami claims that on three separate occasions Sara Netanyahu physically shoved him against a wall. He also alleges that after he returned from a cigarette break, she told him, “I hope you get cancer,” and “I hope you die.”

According to the lawsuit, the most traumatic incident occurred when Sara Netanyahu allegedly told him: “I am the Prime Minister’s wife. I am the number one psychologist in Israel, and I have no competition. My treatment costs a great deal of money. I have diagnosed you—you are on the autism spectrum.”

Ohev Ami claims she then demanded that he pay her three months’ salary for the “diagnosis.” He argues that the remarks were especially devastating because he had previously shared with her that his son had been diagnosed with autism.

The lawsuit also alleges that the treatment he endured caused a significant deterioration in both his physical and emotional health. He says that on the day of the alleged incident, he attempted to file a complaint but instead was transported to the hospital by ambulance after experiencing severe emotional distress and chest pain. He later underwent surgery to receive a pacemaker.

According to the complaint, the final incident occurred on February 5, 2026, after Sara Netanyahu and her son, Yair Netanyahu, returned from the United States. Ohev Ami alleges that Sara Netanyahu criticized the way he swept leaves and shouted, “How does it feel to be the Prime Minister’s adviser like you tell everyone?”

He further claims that shortly afterward Yair Netanyahu approached him, grabbed his arm, and ordered him to “get out of the house immediately,” accusing him of failing to replace and wash his bed linens.

Ohev Ami says he was then removed from the residence and waited outside for approximately four hours, hoping to be allowed back to work. Two days later, on February 8, he was summoned to a pre-termination hearing, and on February 19 he officially received his dismissal letter.

The Prime Minister’s Office categorically denied all of the allegations.

“The Prime Minister’s Office completely rejects the claims raised in the lawsuit,” the office said in a statement. “These are baseless allegations that do not reflect reality, and the office will present its detailed response as part of the legal proceedings.”

The statement added that Ohev Ami was dismissed after a brief period of employment because of repeated professional shortcomings, poor performance, errors, difficulty working with colleagues, and failure to meet the demands of the position.

The Prime Minister’s Office further asserted that the allegations were raised only after his employment ended and after his request to return to work at the residence was denied. It described the lawsuit as “another attempt in the longstanding industry of extorting money from the state through false accusations against the Prime Minister’s wife.”

The office also noted that Sara Netanyahu recently prevailed in court against another former employee who had made similar allegations, saying the court ordered that employee to pay damages after rejecting the claims.

The Prime Minister’s Office said it is confident the facts will emerge during the legal proceedings and that it will provide a comprehensive response to every allegation in court.

{Matzav.com}

The Trump administration faces a Saturday deadline to create a federal review system for America’s most powerful artificial-intelligence models, forcing Washington to turn a carefully negotiated executive order into rules that could affect how quickly new technology reaches the market.

President Donald Trump’s June 2 executive order gave the Treasury, War and Homeland Security departments 60 days to establish classified tests for advanced AI systems and design a voluntary process allowing developers to share certain models with the government before release.

Under the framework, federal officials must determine when an AI system becomes powerful enough to qualify as a “covered frontier model.” Developers could then provide access for as long as 30 days before releasing it to selected outside partners, giving national-security agencies time to identify dangerous cyber capabilities or vulnerabilities.

The August 1 deadline matters because the administration must now define which models warrant government attention without turning the voluntary system into a regulatory barrier.

That balance has divided the technology industry and the administration itself. Security officials argue increasingly capable models could help criminals penetrate computer networks, discover unpatched software flaws or target critical infrastructure. Industry advocates warn that early government review could delay product launches, expose proprietary information and eventually become mandatory.

Trump initially postponed an earlier version of the order in May after concluding that its proposed oversight could weaken America’s position against China. That draft contemplated government access for as long as 90 days before a model’s release.

The final order reduced the potential review period to 30 days and explicitly stated that it does not authorize federal licensing, preclearance or permitting requirements for new AI models.

Participation, however, may not feel entirely optional for companies seeking federal contracts, national-security partnerships or access to government cybersecurity programs. Large developers can also absorb compliance costs more easily than smaller competitors, raising the possibility that a system intended to protect the country could further concentrate the AI industry.

Washington’s challenge is complicated by the speed at which frontier models are advancing. A threshold based on today’s computing power or cybersecurity performance could quickly become outdated, while a definition written too broadly could pull ordinary commercial systems into a process designed for the most capable technology.

Alongside the model-review framework, the executive order directed federal agencies to create an AI cybersecurity clearinghouse, expand vulnerability-detection programs and strengthen computer systems operated by the government and critical industries.

Community banks, rural hospitals and local utilities were specifically identified as potential recipients of advanced cybersecurity tools. These organizations often face sophisticated attacks without the security budgets available to major corporations.

Businesses developing or deploying powerful AI systems will be watching whether the government produces clear technical standards, confidentiality protections and predictable review procedures. Uncertainty alone could influence product schedules, investment decisions and partnerships with federal agencies.

The deadline will not resolve the wider debate over AI regulation. Congress has yet to establish a comprehensive national framework, while states continue advancing their own rules covering discrimination, transparency, consumer protection and automated decision-making.

What emerges from Washington will therefore serve as an early test of whether the federal government can oversee rapidly advancing AI without slowing the industry it considers essential to economic growth and national security.

JBizNews Desk | Washington

© 2026 JBizNews.com. All Rights Reserved. Unauthorized reproduction, republication or redistribution is prohibited.

More than 132,000 fireworks rockets sold nationwide have been recalled after federal safety regulators warned they could explode before reaching their intended height, posing explosion and burn hazards.

The Consumer Product Safety Commission announced Thursday that Jake’s Fireworks is recalling about 132,440 World Class Fireworks “Skull Strobe” rockets. 

The agency said the rockets can explode prematurely before reaching their intended height, creating a risk of serious injury. No incidents or injuries have been reported. 

A representative for Jake’s Fireworks did not immediately respond to FOX Business’ request for comment. 

The recall involves World Class Fireworks “Skull Strobe” rockets mounted on wooden sticks and packaged in black boxes featuring a skull graphic, the brand name, product name and a warning label. The affected products carry SKU code 1004351, which appears near the bottom of the packaging.

Consumers should stop using the recalled fireworks immediately and contact Jake’s Fireworks for a full refund, according to the CPSC. 

Customers will be asked to return the recalled products to the retail location where they purchased them or the nearest Jake’s Fireworks retail location.

The recalled fireworks were sold at fireworks stores nationwide from March 2025 through June 2026 for between $12 and $25.

Jake’s Fireworks Inc., based in Pittsburg, Kansas, imported the recalled products, which were manufactured in China.

Consumers seeking additional information can contact Jake’s Fireworks toll-free at 855-587-8816 from 8 a.m. to 5 p.m. CT Monday through Friday, email [email protected] or visit the company’s recall webpage.

Oil settled higher Friday and closed July with its sharpest monthly gain since March, capping a week in which the U.S.–Iran war pushed energy costs back to levels American households, trucking companies and freight operators have been absorbing since late winter.

West Texas Intermediate futures rose more than 1% to close at $84.67 per barrel, while Brent crude, the international benchmark, gained more than 1% to settle at $90.12. Prices still fell more than 5% for the week after a Monday selloff driven by hopes of de-escalation, but the U.S. crude marker ended the month roughly one-fifth higher.

The reason markets gave back some of Monday’s optimism arrived Friday afternoon.

President Donald Trump ordered the U.S. military to carry out a new attack on Iran as soon as this weekend, The Wall Street Journal reported, citing unnamed U.S. officials who said the strikes are intended to push Tehran toward surrender.

Speaking during a Cabinet meeting at Camp David on Friday, Trump said the United States would be “hitting them very hard” and predicted that Iran would eventually reach a point where it could no longer withstand the pressure.

For business owners tracking fuel, freight and insurance costs, the more consequential question is what may be included in the target set.

The United States and Israel are preparing possible strikes against Iranian energy infrastructure, CBS News reported Friday, citing multiple sources who said the operations could take place over the weekend and could include power plants and refineries, although the president had not yet given final approval.

Striking refining and power-generation facilities rather than military sites alone would widen the risk premium traders place on every barrel of oil. Damaged processing capacity can take months to restore even after fighting ends, keeping pressure on diesel, gasoline and transportation costs long after a ceasefire.

The immediate friction point remains the Strait of Hormuz, where the naval blockade is being enforced ship by ship.

U.S. Central Command said Friday that American forces had redirected 30 commercial vessels, disabled two and boarded two others as part of blockade enforcement. Nearly 30 ships carrying humanitarian aid were permitted to pass.

Tehran separately claimed a direct hit on tanker traffic.

Iran’s Islamic Revolutionary Guard Corps said it struck two tankers attempting to transit Hormuz under U.S. military escort and caused four additional tankers to turn back. U.S. and British maritime-security organizations monitoring the region had not independently confirmed those attacks by Friday evening.

Each interception, delay or unconfirmed attack eventually reaches businesses through higher tanker premiums, fuel surcharges and delivery invoices.

AAA data placed the national gasoline average at $4.003 per gallon on July 20, up approximately 13 cents in one week and more than 86 cents from the same date a year earlier. Diesel reached $5.11 per gallon.

The national average also conceals major regional differences. Drivers across much of the South are paying closer to $3.60 per gallon, while California prices are near $5.50.

Diesel matters most for the tri-state distribution economy because it powers the trucks that stock grocery shelves, restaurant kitchens, warehouses and construction sites.

Small businesses often have less ability to absorb sudden transportation increases or negotiate long-term fuel contracts, forcing them to raise prices, reduce margins or delay hiring and investment.

The administration has also been attacking pump prices from the retail side.

The White House announced the launch of a Freedom Fuel Network selling gasoline at participating stations in New Jersey and Pennsylvania for $3.47 per gallon, below prevailing state averages.

Trump has publicly demanded that retailers reduce prices and warned of consequences if they fail to do so. The program remains small compared with regional fuel demand, but it signals that Washington views gasoline retailing itself, not only crude supply, as a policy lever heading into the fall.

Supply-side relief efforts are also broadening beyond the Gulf.

Saudi Arabia announced Thursday the establishment of a Multinational Maritime Defense Alliance to safeguard navigation through the Bab al-Mandeb Strait, the Red Sea and the Gulf of Aden.

Representatives from 43 of the 51 invited countries attended the founding meeting in Riyadh alongside a European Union delegation. Saudi Arabia will serve as the founding and leading state and host the alliance’s permanent headquarters and joint command.

The kingdom and 13 other governments signed onto the alliance, though neither the United Arab Emirates nor Oman joined.

Traders also remained wary of Black Sea disruptions after loadings were again suspended at the terminal critical to Kazakhstan’s crude exports. Tanker traffic through Hormuz increased after a recent slowdown, allowing millions of barrels to move through the waterway.

That is the balance businesses face heading into August.

Physical oil flows are moving better than the headlines suggest, but political risk is running hotter than at any point since the July blockade.

A limited strike followed by negotiations could allow crude prices to retreat. A broader attack on refineries, power plants or transportation infrastructure could send oil, diesel, tanker insurance and freight costs higher before markets reopen Monday.

Companies with fuel-sensitive expenses—including trucking, food distribution, construction, contracting and livery services—may need to price contracts on the assumption that this weekend brings volatility rather than resolution.

Businesses can reduce exposure by shortening the period during which bids remain valid, adding fuel-adjustment clauses and securing transportation rates where possible instead of waiting for a price break that has repeatedly failed to arrive.

July’s surge in crude prices shows how quickly geopolitical risk can become an operating expense.

The next move will be determined in Washington and Tehran, but the bill will travel much farther—through tanker premiums, diesel pumps, delivery routes and the prices businesses charge their customers.

JBizNews Desk | New York

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

A new Maariv poll shows the Likud Party gaining strength following Prime Minister Binyamin Netanyahu’s visit to Washington and meeting with President Donald Trump, but the boost has not translated into a stronger coalition, which remains well short of a governing majority.

According to the survey, Likud rose by two seats to 22 mandates, while the coalition bloc as a whole remains unchanged at 49 seats.

The opposition bloc also falls short of a majority on its own, holding 57 seats. However, the newly formed Zionist Home Party, led by Chili Tropper and Yoaz Hendel, clears the electoral threshold with four seats, giving the anti-Netanyahu bloc a potential path to a 61-seat majority.

Among the Zionist opposition parties, the biggest losses this week were recorded by Beyachad and the Democrats, each dropping two seats. Yashar, led by Gadi Eisenkot, remains the largest party in the Knesset with 23 projected seats, while the Arab parties hold steady at a combined 10 seats.

Asked how they would vote if elections were held today, respondents produced the following results:

• Yashar – 23 seats
• Likud – 22
• Beyachad – 15
• Yisrael Beiteinu – 10
• The Democrats – 9
• United Torah Judaism – 8
• Otzma Yehudit – 7
• Shas – 7
• Hadash-Ta’al – 5
• Ra’am – 5
• Religious Zionism – 5
• Zionist Home – 4

Balad, with 1.8% support, and Blue and White, with 1.2%, would fail to cross the electoral threshold.

The poll also examined a scenario in which a new political party is formed by Benny Gantz, Ayelet Shaked, Yuli Edelstein, and Dedi Simchi. Under that scenario, the new party would receive 3.8% of the vote, enough for four Knesset seats.

Its entry into the race would push the Zionist Home Party of Tropper and Hendel below the electoral threshold, where it would receive only 2.4% support.

In that scenario, the coalition bloc would gain one seat, rising to 50 mandates, while the Zionist opposition would fall to 56 seats. The Arab parties would remain unchanged with 10 seats.

The survey also asked opposition voters who they believe should lead the center-left bloc in the next election. Among those respondents, 45% chose Gadi Eisenkot, 25% selected Naftali Bennett, 11% preferred Avigdor Lieberman, 10% backed Yair Golan, and 9% said they were undecided.

In head-to-head polling for prime minister, Bennett leads Netanyahu by five percentage points, 44% to 39%, widening his advantage by one point from the previous survey.

Eisenkot performs even better, leading Netanyahu by 48% to 38%—the largest margin recorded since the pollster began comparing the two.

Netanyahu fares better against Avigdor Lieberman, leading that matchup by 43% to 39%.

{Matzav.com}

Russia is providing Iran with electronic intelligence that is likely helping Tehran locate American forces, interfere with U.S.-made weapons and improve its ability to withstand American airstrikes, according to a report by NBC News.

A U.S. official and a European official with knowledge of the matter said Moscow is supplying Iran with signals intelligence gathered from electronic emissions produced by communications networks, radar systems and military weapons. Russia has also shared satellite imagery that could help Iran target American forces.

Officials and experts said the combination of satellite surveillance, signals intelligence and Russian technical knowledge of American weapons systems is likely helping Iran strengthen its defenses and refine attacks against ships, aircraft and other moving targets.

The intelligence assistance may partly explain why Iran has remained more resilient than American officials anticipated six months into the war. Russian electronic surveillance could help Tehran improve its targeting database, assess damage following strikes and detect incoming attacks against Iranian territory.

Since the United States and Israel launched the air war in February, Iran has fired thousands of missiles and drones at American bases and forces, infrastructure across Gulf countries and commercial vessels near the Strait of Hormuz. Despite sustained American bombardment, Iran has retained part of its missile and drone arsenal.

President Donald Trump said on July 24 that he accepted Russian President Vladimir Putin’s assurance that Moscow was not selling weapons to Iran or participating in the conflict. Asked earlier this week about claims that Russia was providing satellite imagery of American bases, Trump said he did not believe the assistance was occurring at a high level and described any such help as having little impact.

Defense Secretary Pete Hegseth told lawmakers last week that both Russia and China had been enabling some Iranian activities, but did not provide additional details. A White House official said nothing being done by an outside country was improving Iran’s ability to target Americans.

(YWN World Headquarters – NYC)

Now, in case you didn’t see it, please rush out, get today’s Wall Street Journal, and read James Freeman’s fabulous column: “How about Reagan-Style Reconciliation?” All right. I was there as a young man, deputy in the Office of Management and Budget, and it’s all music to my ears.

Basically, President Reagan’s tax cut magic. The first major vote was roughly 45 years ago, July, 1981. Reagan’s big tax cut bill passed the House by 238 to 195 votes. It was a Democratic House, remember that. A bit later by the by, the Senate would pass it 89 to 11. It was a Republican Senate.

The Gipper signed the legislation at his ranch that August. Now, this was absolutely the key element to the Reagan revolution, which was a supply-side revolution, which basically argued that you lower taxes to promote growth, jobs, wages, wealth, and a strong national security. Reagan’s tax cuts brought joy and prosperity to a whole nation desperately in need of both. 

Now, as Art Laffer puts it, if you tax something less, you get more of it. You tax the whole economy less as Reagan did, and the economic pie grew larger and larger.  In other words, incentives matter. If you keep more of what you earn, you’re going to work harder, invest more, take more risks, and the economy grew. Those 1981 tax cuts helped the economy roar. With real growth of about 5.5 percent per year for more than seven years during Ronald Reagan’s two terms. 

The stock market roared, as did jobs, and frankly, the whole national morale roared. It was so demoralized during the Carter years, but under Reagan, the animal spirits and the happiness indexes just jumped off the page. And the enormous growth in the American economy created the resources that ultimately Mr. Reagan used to destroy Soviet communism. Peace through strength was an integral part of supply side economics. Mr. Freeman does a wonderful job of reminding all of us of the phenomenal benefits of Mr. Reagan’s supply side tax cuts.

And yes, Mr. Laffer’s curve, the famous Laffer Curve, where he suggested that lower tax rates would produce higher tax revenues with more economic growth and less tax avoidance. Well, it worked out very well. The revenue base actually jumped by almost 25 percent during the whole Reagan boom.

Now, remember, Tip O’Neill was the liberal Democratic speaker. He opposed the Reagan tax cuts, but he got rolled. In the House, 48 Democrats voted for Reagan, who himself, by the way, started out in politics as a Democrat.

What a list of tax cuts. The 25 percent income tax was the headline led by the late Jack Kemp. There were lower taxes on marriage, estates, inheritance, capital gains, interest, dividends, savings, retirements, and businesses. Oh my God. And it worked.

The tax cut magic worked. So I’ll just say, why not remember those days 45 years ago? I remember it very well. How about the Republicans today, thinking about the midterms, but more importantly, thinking about our whole national economy, our whole morale, our whole happiness, our national security. These are things that are helped and virtually solved by lower tax rates across the board.

ASHDOD, Israel — The community of Ashdod was plunged into mourning on Friday following the sudden passing of Rav Eliyahu Ezriel Greenwald z”l, a beloved Belzer chossid and one of the city’s foremost experts in the crafting of batim for tefillin. He was 55.

Rav Greenwald collapsed inside the Belzer Beis Pinchas beis medrash in Ashdod. His son, who happened to be in the building at the time, immediately began performing CPR, but despite the rescue efforts, Rav Greenwald was unable to be revived and returned his soul to his Creator.

Born on the 4th of Elul, 5731 (1971), Rav Greenwald was the son of Rav Chaim Greenwald, a distinguished Belzer talmid chochom renowned for his mastery of both the revealed and hidden dimensions of Torah, and Mrs. Sarah Greenwald, daughter of Rav Elazar Halevi Deitsch, one of the elder and respected Belzer chassidim in the United States and Yerushalayim.

His grandfather was Rav Yisrael Greenwald, the son of Rav Nachum Greenwald, brother of the Arugas HaBosem. Rav Chaim Greenwald also merited to spend time in the presence of his distinguished relative, the Pupa Rebbe, author of Vayaged Yaakov, during the Rebbe’s final days while studying in Serdahel.

In 1976, when he was just five years old, Rav Greenwald immigrated with his family to Eretz Yisroel. During his childhood, he received his early education directly from his father, who chose to teach his children personally rather than enroll them in a Talmud Torah.

As a bochur, he continued his studies in the Belzer yeshiva on Agripas Street in Yerushalayim. After marrying the daughter of Rav Berel Yakubovitz, he established his home in Ashdod, where he became a well-known and respected member of the Belzer community.

For many years, Rav Greenwald supported his family as a highly regarded batim-maker, producing tefillin batim that met the most exacting halachic standards. He earned a reputation as one of the leading craftsmen in the field, and his work was trusted by many seeking mehudar tefillin.

Friends and acquaintances remember him as a quiet, unassuming, and humble yungerman whose kindness matched his modesty. He was known for helping others whenever he could, performing countless acts of chesed without seeking recognition.

The levayah took place Friday afternoon, departing from his home on Yanai Street in Ashdod’s District 7 before passing through the Belzer Beis Pinchas beis medrash. He was laid to rest in the Kehillas Machzikei HaDas section of the Ashdod cemetery.

He is survived by his family, friends, and a grieving community that deeply valued his warmth, humility, and lifelong dedication to Torah and mitzvos.

Yehi zichro baruch.

Israeli Prime Minister Binyamin Netanyahu and Vice President JD Vance held a candid private meeting in Washington this week, using the face-to-face discussion to address growing tensions that have developed between them over Israel’s handling of the war and broader U.S.-Israel policy, according to American and Israeli officials, Axios reports.

The meeting, which took place Tuesday evening at Blair House, came after months of increasingly public disagreements. Vance has emerged as one of the most skeptical voices toward Netanyahu within President Donald Trump’s inner circle since the start of the war, becoming more critical of the Israeli prime minister as the conflict continued.

Vance also assumed a larger role in shaping U.S. policy on both the war and negotiations with Iran. He became one of the administration’s leading defenders of the U.S.-Iran memorandum of understanding, an agreement Netanyahu opposed privately while avoiding direct public criticism in hopes that it would eventually unravel. The agreement ultimately collapsed several weeks later.

Officials said friction between the two leaders had been building for months. Netanyahu was reportedly frustrated by Vance’s public remarks accusing him of encouraging opposition to the Iran agreement and questioning his loyalty to President Trump. At the same time, Netanyahu privately expressed dissatisfaction with Vance’s influence over U.S. policy during the war.

For his part, Vance believed Netanyahu’s political allies and supporters in pro-Netanyahu media outlets in both Israel and the United States were working to undermine him politically and launch attacks against him.

Tuesday’s meeting gave the two leaders an opportunity to address those disagreements directly.

According to a senior Israeli official, Netanyahu raised concerns with Vance about the vice president’s recent criticism of Israel’s government and his comments regarding Israel’s standing among Republican voters.

“It was a frank and candid conversation,” the Israeli official said.

A U.S. official confirmed that description, saying simply, “The conversation was direct.”

While Vance’s office declined to comment publicly, another U.S. official characterized the meeting in positive terms, saying the two leaders had a “cordial and productive conversation about Middle East issues that are important to both countries.”

“The Vice President and the Prime Minister agreed to continue pursuing opportunities for Israel and the United States to cooperate in areas of mutual interest and shared goals,” that person said, adding that the meeting was not confrontational and that Vance and Netanyahu have a productive working relationship.

The private discussion followed several months of increasingly strained exchanges. During a phone call in March, Vance reportedly challenged Netanyahu over what he viewed as overly optimistic assessments of the war, particularly predictions that the Iranian regime could be toppled by a popular uprising.

Since the April 8 ceasefire, Vance has become the administration’s most vocal advocate for pursuing diplomacy with Iran, repeatedly arguing that President Trump’s objective should be preventing Tehran from obtaining a nuclear weapon without drawing the United States into another prolonged military conflict.

In June, Vance publicly rebuked Israeli officials who criticized the Iran agreement, warning, “If I was in the cabinet of the Israeli government, I might not be attacking the only powerful ally that I have anywhere left in the entire world.”

The criticism intensified in July, when Vance told Joe Rogan that some members of Israel’s government were attempting to influence U.S. policy in order to steer Washington away from diplomacy and prolong the conflict.

During that same podcast appearance, Vance also alleged that Jeffrey Epstein had ties to “the highest levels of Israeli intelligence.”

{Matzav.com}

Spain raced Friday to respond to an unprecedented migration crisis after approximately 50,000 people poured into the Spanish enclave of Ceuta from neighboring Morocco, leaving dozens dead and triggering political fallout across Europe. President Donald Trump called the situation “terrible” as European governments moved to tighten border controls.

Spanish Prime Minister Pedro Sánchez traveled to Ceuta, a small Spanish territory on Morocco’s northern coast, where he condemned the mass incursion as “a violation of Spain’s territorial sovereignty.”

Officials said the disaster claimed a heavy human toll. The Spanish government’s representative in Ceuta confirmed that 57 bodies had been recovered on the Spanish side of the border, while warning that additional fatalities may have occurred inside Morocco.

Spain’s Interior Ministry told NBC News that roughly 50,000 migrants crossed into Ceuta on Thursday—an astonishing figure that exceeds half the enclave’s normal population. By Friday, officials said approximately half of those migrants had already returned to Morocco.

The unprecedented surge placed enormous political pressure on Sánchez, whose pro-immigration policies have drawn criticism both at home and abroad. Trump, who has repeatedly clashed with the Spanish leader, described the unfolding crisis in blunt terms, calling it “terrible.” Vice President JD Vance also weighed in, describing the scenes as an “unfortunate reminder of the consequences of mass migration and the radical left-wing globalist policies.”

The crisis quickly reverberated across Europe. France announced it would increase security checks along its border with Spain, while Italy temporarily suspended passport-free travel for flights arriving from Spain, citing security concerns.

Spanish authorities reinforced security throughout Ceuta, deploying military personnel to coastal areas and major roadways in an effort to restore order and manage the massive influx of migrants.

Dramatic footage from the scene showed thousands of people swimming around maritime barriers, floating on inflatable tubes, and forcing their way through border gates before sprinting into the Spanish territory.

Humanitarian organizations said most of those who died drowned during the crossing, while others were killed in crushing stampedes as crowds surged toward the border.

Although the majority of those arriving were young men, authorities also observed families crossing with women and young children.

Among them was 33-year-old Moroccan Ahmed Karim, who said he left his country in search of economic opportunity.

“Many people want to go to Europe, America, but they don’t have the opportunity,” Karim said.

Another migrant, Jadid Zacaria, expressed relief after successfully reaching Spain.

“It’s been a very tough experience to go from the ocean. It was very tough,” he said.

Spain has long served as one of Europe’s primary gateways for migrants seeking better economic prospects or fleeing violence. Ceuta and the nearby Spanish enclave of Melilla are the European Union’s only land borders with Africa. While both territories have periodically experienced migration surges, officials said the sheer scale of Thursday’s crossing was unlike anything seen in recent years.

Moroccan authorities did not immediately comment on the incident, and officials have not yet determined what sparked the sudden mass movement.

Spanish officials in both Madrid and Ceuta suggested the surge may have been fueled by a recent ruling from Spain’s Supreme Court holding that migrants arriving by sea cannot automatically be deported, unlike those who enter by land or scale the border fence.

Sánchez accused migrant-smuggling networks of exploiting and misrepresenting the court’s decision, while acknowledging that the ruling may have contributed to confusion and encouraged the massive crossing.

Some migration advocates in Morocco questioned that explanation, arguing that most migrants would likely have been unaware of a complex legal decision issued by Spain’s highest court.

The crisis has once again exposed Europe’s deep divisions over immigration, with several governments moving quickly toward stricter border enforcement while Spain has generally maintained a more welcoming stance.

Italian Prime Minister Giorgia Meloni announced on X that suspending free-travel arrangements was necessary to “safeguard national security” and prevent the crisis from spreading beyond Spain.

France also signaled a tougher approach. Interior Minister Laurent Nuñez said he had ordered authorities “to immediately step up checks at the Spanish border,” although he did not specify what additional measures would be implemented.

French opposition leader Marine Le Pen argued that the events underscored the need for tougher immigration policies.

“In the face of the massive and coordinated influx of migrants into Spain — encouraged by the Spanish government — France must immediately strengthen its border controls,” she said on X.

In Britain, Nigel Farage warned that the consequences could soon extend across the English Channel, saying “before long many will be crossing the English Channel to enter Britain illegally,” while criticizing Spain’s recent immigration amnesty program.

Trump offered his first public remarks on the crisis during a phone interview with Fox News, characterizing the massive border breach as simply “terrible.”

Israel also entered the debate following repeated diplomatic disputes with Spain over the war in Gaza.

“Before it continues lecturing us, it’s time it explained to the world why it still maintains colonial enclaves in Africa,” Israeli Ambassador to the United Nations Danny Danon wrote in a post on X.

{Matzav.com}

By Julia Parker – JBizNews Desk

ST. LOUIS — A new Federal Reserve Bank of St. Louis study found that U.S. companies are talking far more about artificial intelligence and productivity, but measurable gains have yet to match the surge in executive enthusiasm. The finding matters for investors, employers and corporate planners counting on AI to lift margins, restrain labor costs and justify heavy technology spending.

The bank’s researchers reviewed roughly 490,000 corporate earnings-call transcripts and found a sharp rise in AI-related productivity language. The increase, however, has appeared more clearly in management commentary than in broad economic data, reinforcing the view that AI adoption may take years to translate into sustained output gains.

For business owners and executives, the study points to a familiar implementation problem: new technology can be available before companies know how to redesign workflows around it. AI tools may reduce some administrative work, improve coding and speed customer service, but firms still need to train employees, integrate software, protect data and change internal processes before those benefits show up in earnings.

The timing is important for markets. Nvidia, Microsoft, Alphabet and Amazon.com have helped drive expectations for a long AI investment cycle, while companies across industries have increased spending on cloud infrastructure, software subscriptions and data systems. If productivity gains arrive slowly, investors may put more emphasis on cash flow, depreciation costs and near-term returns on AI projects.

The promise remains substantial. International Monetary Fund Managing Director Kristalina Georgieva said earlier this year, “We are on the brink of a technological revolution that could jumpstart productivity, boost global growth and raise incomes around the world.” The St. Louis Fed analysis suggests that the timing of that jumpstart remains uncertain.

The study also has implications for the Federal Reserve. Faster productivity growth can allow the economy to expand with less inflation pressure, improving the trade-off between growth and interest rates. Slower productivity gains would leave policymakers more dependent on traditional signals such as wages, consumer demand and price pressures when assessing inflation risks.

For companies, the near-term test is whether AI moves from pilot projects to measurable operating improvements. Investors are likely to focus on revenue per employee, customer-service costs, software efficiency, capital spending discipline and management’s ability to show clear returns rather than broad AI ambition.

The St. Louis Fed’s findings do not dismiss AI’s economic potential. They indicate that, as with earlier general-purpose technologies, productivity may lag adoption while businesses rebuild processes around the tools. That delay could separate companies that use AI to improve margins from those that mainly add another layer of spending.

JBizNews Desk | St. Louis

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

The moment the Three Weeks comes to an end, the Chareidi world undergoes an annual transformation. Yeshivos and kollelim empty out, thousands of bochurim and avreichim head out with their families, and highways across Eretz Yisroel fill with minivans, buses, and carpools all heading toward the country’s beaches, hiking trails, and vacation spots. But beyond the obvious destinations are a handful of iconic locations that become the true heartbeat of bein hazmanim—places where, if you haven’t stopped by, you probably haven’t experienced the season in all its glory.

Here’s a look at the unofficial landmarks of the Chareidi summer in Eretz Yisroel, where chances are you’ll run into your neighbor, a cousin you haven’t seen in years, and half the people from your yeshiva.

1. The Itzkowitz Shul, Bnei Brak | The Spiritual Rest Stop

Even while much of Bnei Brak empties out, the city’s spiritual center never slows down. The Itzkiowitz shul, famous for operating around the clock, becomes the ultimate transit hub during bein hazmanim.

Every few minutes another Minchah or Maariv begins. Travelers wearing hiking boots and backpacks squeeze alongside locals in weekday attire, while conversations in the hallways revolve around hiking routes, bus schedules, traffic reports, and which northern streams still have water.

The contrast is unmistakable. One avreich walks in dressed impeccably for his regular evening tefillah, while beside him stands a yeshiva bochur whose bent hat has been stuffed into his backpack, wearing sandals with socks and carrying an oversized hiking pack that seems to occupy half the room.

Outside, the plaza has become an unofficial information exchange. People swap updates on overloaded night buses, dried-up hiking trails, and the current wait time at the nearest urgent care clinic.

2. The Kosel, Yerushalayim | The 2:00 A.M. Reunion

No Chareidi road trip feels complete without a stop at the Kosel. No matter where people spend the day, somehow everyone eventually finds themselves standing before the ancient stones.

During the late-night hours of Av, the plaza takes on an entirely different character. It resembles a massive gathering of yeshivos from across the country, with bochurim from Chevron, Ponovezh, the kibbutz yeshivos, and countless others all arriving by bus, hitchhiking, or whatever transportation they managed to find.

The cool mountain air creates a remarkable atmosphere—a blend of deep spiritual reflection and spontaneous yeshiva reunion.

One moment, someone is standing in heartfelt prayer or reciting Tehillim with tears. Thirty minutes later, that same person is catching up with old friends: “You’re in Teshuya now? What happened to Schwabitz? Are you heading through the shuk afterward?”

Only the Kosel can seamlessly combine profound deveikus with animated yeshiva conversations at two o’clock in the morning.

3. Rashbi’s Kever, Meron | The Summer Capital of the Chareidi World

If Yerushalayim is the heart, Meron becomes the summer home of the Chareidi community.

A visit to the resting place of Rav Shimon bar Yochai is more than a stop at a holy site. For many families and groups, it serves as either the launching point or the grand finale of a full day exploring northern Israel.

The mountain road becomes a fascinating crossroads where Chassidim, Litvaks, and Sephardim all converge in makeshift hiking attire—tzitzis fluttering in the breeze, faded baseball caps from old health plans, and the unmistakable look of people who’ve already logged plenty of miles.

Inside the complex, volunteers work nonstop distributing hot tea—even in sweltering weather—alongside ice-cold water and slices of cake.

Within the tziyun, the atmosphere is one of continuous prayer, crowded minyanim, and heartfelt supplication. Outside, groups of bochurim sit on the steps and rocks reviewing the Daf Yomi or passionately debating a difficult sugya beneath the shade of nearby trees.

4. Alonit Service Area, Highway 6 | Where Everyone Somehow Meets

If there is one place that deserves official recognition as the capital of Chareidi travel during bein hazmanim, it is the Alonit service plaza between the Nitzanei Oz and Iron interchanges on Highway 6.

Stopping there for “just a quick coffee” is almost guaranteed to result in running into the neighbor from upstairs, your cousin from Modiin Illit, and your son’s rebbi—all standing in the same checkout line.

The parking lot becomes a nonstop performance of sliding minivan doors opening simultaneously. Out tumble crushed snack boxes, folding strollers, coolers, beach bags, children searching for missing sandals, and one exhausted father trying to remember where he put the car keys.

Meanwhile, beneath the nearby trees, a giant impromptu Minchah-Maariv minyan quietly forms without anyone officially organizing it.

5. The Separate Beach at Sheraton, Tel Aviv | Gush Dan’s Public Air Conditioner

Not everyone manages to reserve a cabin in the north. For those who decide that sitting in traffic for four hours isn’t worth thirty minutes in the water, Tel Aviv’s separate beach becomes the perfect alternative.

Though relatively small, it draws thousands throughout the summer.

Morning hours belong almost entirely to fathers juggling colorful flotation devices, building sandcastles, and answering the same enthusiastic cry every few seconds: “Tatty, another wave!”

By late afternoon, the atmosphere changes completely. The beach transforms into an outdoor yeshiva fitness center, with spirited swimming races to the distant buoy, energetic paddleball games, and lengthy discussions about Maseches Chullin while floating effortlessly on the Mediterranean.

Eventually, the lifeguard announces over the loudspeaker that the men’s hours have ended, while a handful of determined swimmers plead for “just another thirty seconds” because, naturally, “the water only became perfect now.”

6. Shikmim Beach, Kinneret | The City of Tents and Barbecues

On the shores of the Kinneret, the separate Shikmim Beach becomes an enormous temporary city each bein hazmanim.

Thousands descend on the lake almost immediately after vacation begins. Tents somehow go up in minutes—only to require hours of frustration when it’s time to squeeze them back into their original carrying bags.

Every patch of shade disappears almost instantly. Anyone arriving late quickly discovers that all the prime real estate has already been claimed.

The air is permanently scented with charcoal smoke, grilled kebabs, and marinated chicken transported from home inside oversized coolers.

The soundtrack is uniquely Chareidi. One area echoes with Chabad niggunim, another blasts lively Mizrachi music, while somewhere in between someone is attempting an afternoon nap atop an oversized inflatable raft drifting gently across the lake.

As darkness falls, the grills cool down and campfires come alive. Conversations stretch late into the night, covering every imaginable topic—from Israeli politics and world affairs to housing prices in Afula and Nesivos.

And eventually, every discussion arrives at the same timeless family debate:

“Why… why didn’t we bring one more case of water from home?”

{Matzav.com}

Gadi Eisenkot, chairman of the Yashar Party and a former IDF chief of staff, sharply criticized reports of an emerging agreement between Israel and Hamas over the next phase of the war in Gaza, arguing that any deal should be judged solely by whether it achieves Israel’s war objectives.

Responding Thursday evening to reports of a possible agreement, Eisenkot insisted that Israel cannot accept any arrangement that leaves Hamas intact.

“Any agreement will be judged solely by whether it achieves the objectives of the war—the destruction of Hamas’ military and governing capabilities or its complete dismantlement,” he wrote. “Anything less than that is a total failure.”

Eisenkot also criticized Prime Minister Binyamin Netanyahu for not publicly presenting the reported agreement, suggesting the lack of transparency raises serious concerns about Israel’s role in shaping it.

“The fact that the prime minister has chosen not to present the agreement to the Israeli public raises serious questions about whether Israel is actually a partner to it—or whether, once again, an agreement is being imposed on Israel without its involvement,” he said.

His comments came after President Donald Trump announced what he described as a historic agreement calling for the complete disarmament of Hamas, while Israeli officials strongly denied that any agreement regarding Gaza had been reached and insisted that the issue was not discussed during Netanyahu’s meeting with Trump.

Eisenkot painted a bleak picture of the current security situation in Gaza, arguing that nearly three years after the October 7 massacre, Hamas has largely rebuilt its military capabilities despite Israel’s battlefield successes.

“Nearly three years have passed since the morning of October 7, and Hamas has rebuilt its strength, with a number of terrorists similar to what it had on the eve of October 6,” he wrote. “Aside from the return of the hostages, the objectives of the war have not been achieved, despite the military successes the IDF has accomplished and the heavy price that has been paid.”

He concluded with a stinging attack on Israel’s leadership, declaring: “The blindness of the cabinet that failed on October 7 will haunt it forever.”

Eisenkot’s statement followed Trump’s overnight announcement of what he called a landmark Peace Council agreement providing for the complete disarmament of Hamas and the other terrorist organizations operating in Gaza.

According to Trump, “This agreement is a critical step toward a future in which Gaza will finally be governed by a new Palestinian administration that will work closely with the Peace Council to assist its residents. At the same time, Israel will receive the security it deserves, with Gaza no longer serving as a base for terrorist attacks.”

Trump added, “The agreement will be implemented in carefully planned stages. Once the disarmament process is completed, Israeli forces will withdraw, and an international stabilization force will work alongside a new Palestinian police force to ensure that Gaza is safe for both its residents and its neighbors.”

A senior Israeli official stressed Thursday night that Israel continues to insist on Hamas’ complete disarmament, including the removal of all weapons from Gaza and the full demilitarization of the Strip before any political process can move forward.

The official added that the reported 15-point framework does not adequately address those demands and said Israel has conveyed its reservations to envoy Tony Blair.

Meanwhile, IDF operations in Gaza continue. The 188th Armored Brigade Combat Team recently completed eight months of operations in southern Gaza, during which troops destroyed more than ten major underground Hamas facilities, including a tunnel that had been used to hold hostages.

{Matzav.com}

The Federal Reserve left its benchmark interest rate unchanged this week despite three dissenting votes from Fed governors who would’ve preferred the central bank hike rates to help rein in stubbornly-high inflation, they explained on Friday.

The Federal Open Market Committee (FOMC), the Fed panel responsible for monetary policy moves, on Wednesday voted 9-3 to leave the federal funds rate unchanged at a range of 3.5% to 3.75%, where it has remained throughout 2026 so far.

The three dissenting votes were cast by Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari and Dallas Fed President Lorie Logan – each of whom raised concerns about inflation persisting above the central bank’s 2% target and said they would’ve preferred raising the federal funds rate by 25-basis-points.

Inflation trended lower in June but remains elevated from the energy price shock caused by the Iran war earlier this year, with the Fed’s preferred inflation gauge, the personal consumption expenditures (PCE) index, up 3.7% in June compared with a year ago.

Federal Reserve Chair Kevin Warsh, who was leading his second FOMC meeting since being confirmed as the central bank’s leader, acknowledged the importance of returning inflation to 2% to restore price stability even as he said that he thinks holding rates steady was “especially prudent at these uncertain times.”

“Not one of my FOMC colleagues is under any illusion, we have begun a new chapter, and we understand that the five-plus years of inflation above target cannot be cured in nine weeks, or by a single month of modest price decreases. This Fed will not waver. Our credibility rests on performing our duties and delivering on our responsibilities,” Warsh said.

Here’s a look at key points made by the three dissenting FOMC members in their explanations of why they would’ve preferred the central bank hike rates at this week’s policy meeting.

Logan explained that inflation “does not appear to be on course to sustainably achieve” the Fed’s 2% target, adding that, “Every month of above-target inflation compounds the strain on the budgets of American families and businesses.”

“Even after accounting for productivity gains and temporary supply shocks, inflation appears to be trending toward the mid-2’s, not all the way to 2%, and the risks are to the upside,” Logan explained. She also noted the labor market is “solid and perhaps strengthening,” which eases concerns about the maximum employment component of the Fed’s dual mandate.

She added that conditions in the labor and financial markets, as well as consumer spending trends, suggest that “monetary policy is not restraining the economy. Without any policy restraint, inflation will likely continue to trend above target until there’s an unanticipated shock.”

“The FOMC cannot count on unanticipated shocks to achieve its goals and can always adjust policy if unanticipated shocks occur. Modest action in the near term would reduce the likelihood of needing to take sharper action later,” Logan said in explaining her preference for a rate hike.

Kashkari discussed the similarities and differences between the current inflationary cycle and what the U.S. experienced in the 1970s with a series of successive supply shocks affecting commodities, food and energy markets; to the contemporary inflation caused by the pandemic, wars in Ukraine and the Middle East, and trade tension leading to higher tariffs.

While central bankers half a century ago initially thought they faced a single supply shock that could “look through” because it would pass on its own, they ultimately determined they needed to raise rates to curb the inflationary pressures, Kashkari explained.

“The economy today is in a much better place than it was then: unemployment is lower and inflation is much lower. But to manage against the risk that high inflation could become entrenched, I would rather tighten policy incrementally as we gather more data on the path of inflation and employment,” he wrote.

“If inflation remains elevated, in my view, a potential series of small policy moves would be better than waiting and eventually concluding that even bolder actions were necessary,” Kashkari said. “On the other hand, if inflation durably fades, a strategy of small policy steps would allow the FOMC to slow or pause subsequent adjustments without unnecessary impact on the real economy.”

Hammack wrote that she is “not confident” that inflation will return to the Fed’s 2% target on its own, saying that the time is right for the central bank to take action to lower inflation as the “longer that high inflation persists, the more challenging and costly it can be to bring it back down.”

She noted that while energy price shocks have driven much of the inflation this year, she’s hearing from businesses in her Fed district that pricing pressures are “broadening rather than fading, and consumers are expressing despair over persistently higher prices.”

“Given the stability of the labor market, with the unemployment rate near my estimate of maximum employment, I view high inflation as the more pressing problem,” Hammock explained.

“A higher federal funds rate would help restrain economic activity and reduce inflationary pressures. I preferred to move at our recent meeting because I did not see the current policy stance as appropriately restrictive,” she wrote.

Investigators on Friday released the complete text of two alleged ransom notes tied to the disappearance of Nancy Guthrie, marking six months since the 84-year-old grandmother vanished from her Tucson home as authorities renew their appeal for information that could finally crack the high-profile case.

According to the Pima County Sheriff’s Office, the emails were sent to the newsroom of Tucson television station KOLD-13 on Feb. 2 and Feb. 6 by someone claiming to be holding Guthrie captive. Along with releasing images of the messages, investigators said they hope the writing style may help identify the person responsible.

The first email, sent just one day after Nancy was reported missing, was addressed directly to her daughter, “Today” show anchor Savannah Guthrie.

“Hello Savannah, We have your mother Nancy. She is safe but scared. She will be held for ransom and once payment is received she will be released unharmed,” the message began.

The note demanded millions of dollars in Bitcoin and set strict payment deadlines, threatening increasingly severe consequences if the money was not delivered.

“We will be holding her for a maximum of 7 days. You will need to send bitcoin in the amount of $4 million USD before 5PM on Thursday the 5th. If payment is not received, the ransom will be increased to 6 million USD which will need to be paid by 5PM on Monday the 9th.

“Once payment is received to the bitcoin address below she will be released within 12 hours of deposit to a safe drop off location back in Tucson. If payment is not recieved [sic] by the last deadline on Monday the 9th at 5PM, she will be killed,” the note warned.

The message continued by insisting there would be no further communication or negotiations and warned the family against involving law enforcement.

“Your mother is aware of this and her life is in your hands. It is in the best interest of everyone to have this completed as soon as possible. You will not be able to contact me from here on out, there will be no negotiation. Do not play games, law enforcement will not be able to help you,” the note continues, followed by a redacted line.

The email concluded with a chilling reference to details from inside Guthrie’s property.

“She had a white smart watch on the floor of the foot of her bed and the white flood light in backyard was destroyed,” the chilling message concludes.

A second email, sent four days later, claimed that Guthrie had died while in captivity.

“Guthrie Family, We did not fully grasp the seriousness of her physical condition. We never intended to hurt her, that was not our intention. She perished shortly after she was taken. We believe it was heart related. She is buried in nature now. Nothing you could have done could have changed the outcome. We want your family to know this and hope you all can find peace. We are truly sorry,” it read.

Authorities redacted the sender’s name, email address, and date of birth from both messages before releasing them publicly.

The sheriff’s office said investigators believe the wording of the emails may prove just as valuable as physical evidence.

The notes reveal “distinctive patterns of word choice, syntax, and phraseology that reflect the writer’s unique linguistic style.

“They also provide valuable insight into the person’s mindset, motives, and the evolution of their tone over time,” the office’s X post reads.

Investigators said those linguistic traits may be familiar to someone who knows the writer, just as they hope someone will recognize the unidentified man captured in surveillance footage outside Guthrie’s home.

“As with the unidentified male depicted in the video, we believe these distinctive linguistic characteristics may be recognizable to someone who knows or has interacted with the notes’ writer,” reads the post, which also implores anyone who may recognize the masked man seen in haunting surveillance camera footage taken from Nancy’s home to contact authorities.

“A friend, family member, coworker, classmate, or acquaintance may recognize these patterns of expression and possess information that could help identify the individual responsible,” it continues.

Authorities also disclosed that surveillance footage showing a man dressed entirely in black outside Guthrie’s home may have been recorded on two different days. Detectives believe the videos are essential to understanding the suspect’s actions before the disappearance.

“They indicate he took steps to prepare for the event on the night of January 31 to February 1.”

The sheriff’s office is also urging the public to think back to any unusual behavior displayed by acquaintances around the time Guthrie disappeared. Investigators say warning signs could include sudden nervousness or irritability, unexplained injuries, changes in appearance, abrupt travel, unusual vehicle cleaning or repairs, or an unexpected fascination—or complete lack of interest—in the widely publicized case.

Friday’s appeal came exactly six months after Nancy Guthrie was last seen by her daughter and son-in-law on the evening of Jan. 31.

“Investigators continue to pursue every available technological and investigative lead,” the sheriff’s office insisted Friday.

“However, community members remain a vital resource as we seek to provide answers for Nancy’s family.”

The FBI continues to offer a $1 million reward for information leading to Nancy Guthrie’s recovery, and anyone with information is urged to contact the FBI or local authorities.

Earlier this week, Savannah Guthrie issued another emotional plea, this time speaking directly to those she believes are holding her mother.

“The world can be a cruel and unforgiving place, and I know that you have tried to do things the right way,” she said Monday, appearing to address the kidnappers directly.

“So I am asking you, begging you, to do the right thing now,” she added.

Stocks finished higher Friday on the final trading day of July, with a 13% surge in Amazon overpowering a sharp decline in Apple and a bond market that spent the week signaling it has lost patience with the Federal Reserve.

The Nasdaq Composite rose 1% to close at 25,373.85, the S&P 500 added 0.7% to finish at 7,489.72, and the Dow Jones Industrial Average gained 276.97 points, or 0.53%, to 52,485.03. The Russell 2000 climbed 1.37%.

The session capped a violent week. Wednesday brought the Dow’s worst single-day decline since April 2025, a drop of nearly 2.2%, after the Fed left rates unchanged and the Nasdaq slipped into correction territory more than 10% below its early-June high. Thursday reversed it, with the Nasdaq up 2.8% and Microsoft jumping 16% on Azure growth.

Market movers

Amazon was the story. Revenue rose 20% to $200.6 billion, while AWS revenue jumped 37% to $42.2 billion — the cloud unit’s fastest growth in 18 quarters. The stock surged nearly 13%.

Apple went the other way. Shares sank after the company issued weak guidance for the current quarter, citing supply constraints. The stock fell close to 10% as chip shortages raised costs and cut into June-quarter production. Services and Greater China revenue both came in short.

Chip names could not hold their opening gains. An 18% surge in South Korea’s Kospi, led by SK Hynix hitting its 30% daily limit, had chip ETFs up 3.3% in early U.S. trading. Micron, SanDisk and Qualcomm all reversed into losses of 3% to 6%. Netflix and Eli Lilly each fell about 3%, and ExxonMobil dropped 3% as limited refinery capacity kept the oil major from fully capturing the quarter’s crude gains.

Coinbase fell 4.5% and GoDaddy dropped 10.9% following their second-quarter results.

The bond market is the real story

The 30-year Treasury yield spiked to its highest level since 2007, closing up about four basis points at 5.25%. The 10-year topped 4.7%, the highest since January 2025.

The move reflects eroding confidence in Fed Chairman Kevin Warsh’s commitment to curbing inflation. Warsh said this week that the central bank has no magic wand. Long-dated yields at 19-year highs are the market’s answer.

Commodities

Oil moved higher as Strait of Hormuz traffic began to falter following renewed hostilities. WTI traded near $85 a barrel and Brent reached $90. Wednesday’s escalation had already pushed Brent up 6.6% in a single session to $89.61 after the president said the U.S. would strike Iran in retaliation for an attempted attack on American forces.

July in the books

All three major indexes ended the week higher but closed July with monthly losses, reflecting the AI-linked selloff that ran through the month. The Philadelphia Semiconductor index fell more than 20% in July, its worst month since the housing bubble collapsed in late 2008. The Dow, however, posted its fourth straight winning month.

Beneath the chip wreckage, participation broadened. The S&P 500 equal-weighted index is on track for a fourth consecutive monthly gain. The share of S&P 500 components trading above their 200-day moving average reached 73% earlier this week, the highest since December 2024.

The capital spending question that drove July’s selling now has an answer. Amazon, Microsoft, Meta and Alphabet together project $720 billion to $745 billion in capital projects for 2026. Investors spent the month worried that spending was outrunning returns; Amazon’s cloud numbers gave them a reason to stop worrying, at least into the weekend.

Higher energy and gasoline prices have squeezed household budgets, though the University of Michigan’s latest reading showed a broad improvement in consumer sentiment.

Monday brings the ISM Manufacturing PMI for July, along with earnings from Marriott, Palantir, Vertex Pharmaceuticals, Williams Companies, ONEOK and Diamondback Energy.

JBizNews Desk | Wall Street

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BAT YAM, Israel — A 60-year-old man is fighting for his life after being pulled unconscious from the Mediterranean Sea at a Bat Yam beach on Friday afternoon.

The man was rescued from the water near Sunset Beach by lifeguards after apparently getting into distress while swimming. When emergency personnel arrived, they found him without a pulse and not breathing.

United Hatzalah medics immediately began advanced resuscitation efforts in an attempt to revive him before transporting him to the hospital. CPR continued throughout the evacuation.

Shmuel Malka, head of United Hatzalah’s Bat Yam branch, together with EMTs Yaakov Ladkani and Orel Zada, described the incident.

“We were informed at the scene that he had drowned and was pulled from the water by the lifeguards. We performed resuscitation efforts on him, and he was then evacuated to the hospital while CPR continued. He is in critical condition.”

Emergency crews worked quickly to stabilize the victim before he was rushed to the hospital. He remains in critical condition as medical teams continue efforts to save his life.

By Julia Parker – JBizNews Desk

VIENNA — Record-low water levels on the Danube have stranded vessels, disrupted river cruises and forced cargo shippers and power producers across Central Europe to curb operations, adding costs for tourism, agriculture and energy companies already dealing with weak demand and volatile prices.

A cruise ship on the river ran out of food and drinking water after falling water levels left it unable to continue normal operations, underscoring the commercial strain on one of Europe’s busiest inland transport routes. Operators have been forced to reroute passengers by bus, reduce itineraries or wait for water levels to recover.

The Danube is a critical trade corridor for grain, fuel, metals and industrial goods moving between Germany, Austria, Hungary, Serbia, Romania and the Black Sea. When water levels fall, barges must sail with lighter loads or stop altogether, raising transport costs per tonne and creating delays for exporters and manufacturers.

The disruption is also hitting the tourism industry. River cruises are a high-margin business for operators and a significant source of spending for hotels, restaurants and local tour companies along the Danube. Low water levels can quickly turn scheduled cruises into partial land tours, increasing refund risk and operating expenses.

The drought has exposed World War II-era bombs and old shipwrecks along parts of the river, creating additional navigation and safety hazards. Authorities in affected countries have had to monitor dangerous debris and unexploded ordnance, complicating efforts to keep commercial traffic moving.

Energy producers are facing a separate constraint. At some nuclear and thermal power sites, low river flows and warmer water have reduced the ability to use and discharge cooling water within environmental limits, forcing temporary output cuts. That can tighten power supply and increase reliance on more expensive generation at times of high demand.

The severity of the dry spell reflects a broader pattern of water stress across Europe, where heat waves and below-average rainfall have increasingly affected inland shipping, hydropower and agriculture. “We haven’t analysed fully the event because it is still ongoing, but based on my experience I think that this is perhaps even more extreme than in 2018,” said Andrea Toreti, a senior researcher at the European Commission‘s Joint Research Centre.

For companies, the immediate risk is higher logistics expense and delivery uncertainty. Barges are typically cheaper than rail or road transport for bulk goods, but low-water restrictions can force shippers to pay for alternative routes, split cargoes into smaller loads or delay deliveries.

Agricultural exporters are among the most exposed. The Danube connects major grain-producing regions to Black Sea ports, and any reduction in river capacity can affect shipment timing, storage needs and contract performance. Industrial customers also face cost pressure when raw materials such as coal, iron ore or petroleum products cannot move efficiently.

The impact on earnings will depend on how long the low-water conditions persist. Cruise operators can absorb short disruptions through schedule changes, but prolonged restrictions would increase compensation costs and weaken seasonal revenue. Utilities and manufacturers face similar exposure if transport bottlenecks or cooling-water limits extend into peak demand periods.

Governments are likely to face pressure to accelerate river maintenance, dredging and climate-adaptation spending. For business owners and investors, the latest disruption highlights that water levels on Europe’s inland waterways are no longer only an environmental issue; they are a recurring operational and pricing risk.

JBizNews Desk | Vienna

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Growing frustration within the Chareidi community over recent court rulings and government policies has fueled calls for new faces to replace veteran representatives in the Knesset. But during a discussion on Kol Chai Radio, commentator Shimon Breitkopf and Rav Yosef Shwinger argued that simply electing a new member of Knesset is unlikely to produce the sweeping changes some activists envision.

The conversation centered on mounting dissatisfaction over High Court decisions and rulings by Israel’s attorney general affecting issues such as military conscription and government funding, prompting some voices within the Chareidi public to push for new candidates to join the Chareidi parties’ Knesset slates.

Rav Shwinger dismissed the notion that replacing veteran lawmakers would fundamentally alter the political or legal landscape.

“The Chareidi public is in a state of tremendous frustration, but anyone who thinks a new representative will solve the problems with the High Court and the attorney general is either naïve or selling land in Nigeria,” Shwinger said. “I understand the frustration that gave rise to these campaigns, but this is not the solution.”

He went on to criticize what he described as unrealistic expectations among those leading the initiatives.

“I envy their enthusiasm. They’re convinced that until they came along, nothing existed—it was a complete desert. And now, if one new representative enters United Torah Judaism and another joins Shas, suddenly everyone will say, ‘Ladies and gentlemen, a revolution.’ In the end, it’s a little funding and a lot of naïveté. I saw their advertisements and campaign. They claim that Chareidi Judaism must not be trampled upon. Do you really think they’re closing the windows in Attorney General Baharav-Miara’s office out of fear? Do you think Justice Amit or Justice Solberg are saying, ‘Everyone, a new representative has arrived—everything is about to change’? In my opinion, there’s a level of naïveté here that’s almost pitiful.”

Breitkopf, for his part, emphasized the traditional Chareidi approach to political participation.

“We don’t really choose,” he said. “We only have the right to vote, not the right to choose. That’s how we were raised, and that’s how we were educated.”

At the same time, Breitkopf argued that the identity and conduct of elected representatives still matter, even if they cannot singlehandedly reshape Israel’s legal system.

“Every Jew who serves in the Knesset or in the public arena has the ability to change the entire balance,” he said. “Even if it’s not through legislation, and even if the High Court ultimately strikes it down, the mere fact that the Israeli public sees what bnei Torah look like—their refined character and the example they set—is itself an enormous Kiddush Hashem.”

The discussion also touched on the enormous responsibilities shouldered by Chareidi lawmakers, who are expected not only to fight major ideological and legislative battles but also to help constituents with everyday concerns ranging from public transportation and municipal taxes to daycare issues and government funding.

The participants concluded that there is a significant gap in public understanding, particularly within the Chareidi community itself, where frustration over judicial decisions is often directed at elected representatives even when those issues are largely beyond their control.

{Matzav.com}

The U.S. dollar is on track for its worst weekly performance in three months after investors questioned whether the Federal Reserve will raise interest rates again, despite inflation remaining above its target. Markets have responded by selling the dollar and shifting into other major currencies. 

The change in sentiment followed this week’s Federal Reserve meeting, where policymakers left interest rates unchanged. While three officials dissented in favor of tighter policy, investors focused on the absence of a clear signal that additional rate hikes are imminent. 

A weaker dollar has broad effects across the economy. It can make imported goods more expensive for American consumers, increase costs for businesses that rely on overseas suppliers, and lift commodity prices that are priced globally in U.S. dollars. At the same time, it can improve the competitiveness of U.S. exporters by making American products less expensive overseas.

Currency markets also reflected the shift. The euro, British pound and several commodity-linked currencies strengthened against the dollar as traders reduced expectations for additional Federal Reserve tightening and repositioned portfolios ahead of fresh economic data. 

Attention now turns to upcoming employment and inflation reports, which could quickly change expectations for the Fed’s next move. Stronger-than-expected data would likely support the dollar, while signs of a slowing economy could extend its recent decline. 

JBizNews Desk | Wall Street

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The IDF has handed down severe punishments to the soldiers identified as the leaders of this week’s protest at the Sde Teiman military base, sentencing 14 members of the Givati Brigade’s Tzabar Battalion to 30 days in military prison and removing them from combat service.

The disciplinary action comes one day after dozens of soldiers and commanders staged a walkout from the base in protest, prompting a swift response from the military.

According to the IDF, the 14 soldiers deemed to have led the protest were each sentenced to 30 days in military prison. In addition to their jail terms, they will be permanently removed from combat duty and reassigned to non-combat roles.

Roughly 80 additional soldiers who left the base but later returned will not face imprisonment. Instead, they and their commanders will participate this Shabbos in a command-led educational and disciplinary program intended to reinforce military discipline, values, and the standards expected of IDF soldiers.

The investigation into the incident is still ongoing. Two additional soldiers identified as organizers of the protest reported overnight and will face disciplinary proceedings at a later date. Another soldier who has not yet appeared for his hearing will be dealt with separately once he reports.

The disciplinary hearings were conducted by Givati Brigade commander Col. Netanel Shamka.

The incident began Thursday when dozens of soldiers and officers from the Givati Brigade’s Tzabar Battalion walked out of the Sde Teiman base after leaving behind their weapons and absenting themselves without authorization.

According to reports, the protest was triggered by the battalion commander’s decision to destroy the battalion’s metal “pogim” plaques—symbols bearing the motivational slogans and traditions of the unit’s companies and platoons—which many of the soldiers viewed as an affront to the battalion’s identity and esprit de corps.

https://matzav.com/wp-content/uploads/2026/07/VIDEO-2026-07-31-13-37-23.mp4

The Orthodox Union’s Kashruth Division has issued an urgent directive to its nationwide network of mashgichim and staff, warning that disruptions in the kosher meat supply chain could create opportunities for fraud and calling for heightened vigilance when receiving meat products.

In a letter from OU Kosher CEO Rabbi Moshe Elefant, the organization said the kosher meat industry is facing significant supply challenges following two major setbacks: the temporary closure of a large kosher slaughterhouse in the Chicago area and the devastating fire at the Agri Processors facility in Postville, Iowa.

According to the OU, those developments have resulted in an unexpected shortage of kosher meat in the marketplace.

“Periods of limited supply can unfortunately create opportunities for dishonest practices,” Rabbi Elefant wrote. “It is therefore essential that every Mashgiach exercise heightened vigilance when receiving meat and meat products at restaurants, catering facilities, retail establishments, and food manufacturing plants under OU certification.”

The letter instructs mashgichim to carefully verify that all incoming meat and poultry bear the proper kosher identification and required seals before accepting deliveries. It also directs them to inspect packaging, labels, and certification markings for any irregularities.

In addition, the OU emphasized that certified establishments should receive products only from approved suppliers and distributors. Any discrepancies, suspicious circumstances, or irregularities are to be reported immediately to the supervising Rabbinic Coordinator before the products are permitted to enter inventory or production.

Rabbi Elefant stressed that maintaining the integrity of the kosher supply chain depends on the diligence and professionalism of every member of the OU’s kashrus team.

“The integrity of the kosher supply chain depends upon the diligence and professionalism of every member of our field and office staff. Your attention to these details is critical to maintaining the confidence that consumers place in the OU symbol,” he wrote.

Despite the current challenges, the OU sought to reassure its staff that it is actively working to stabilize the situation.

“We are working continuously with industry partners to identify qualified alternative slaughter facilities and to help ensure a reliable supply of kosher meat during this interim period. We will continue to keep you informed as developments occur,” Rabbi Elefant stated.

{Matzav.com}

Israeli Defense Minister Yisroel Katz declared that Israel will continue confronting Iran and its regional proxies while making clear that any future Israeli participation in American military operations against Tehran would depend on a request from President Donald Trump.

Speaking at a conference of the Likud Group headed by Ofer Ayubi in Yerushalayim, Katz addressed a wide range of security, diplomatic, and domestic issues, emphasizing that Israel remains focused on achieving its strategic goals through military strength and close coordination with the United States.

“We want to continue moving forward, promote significant initiatives, and act in creative and unconventional ways to achieve the goals we have set,” he said.

Katz said Israel’s alliance with the United States remains one of the country’s most important strategic assets, noting that senior Israeli officials recently met with members of the Trump administration to deepen cooperation and strengthen coordination between the two governments.

He also praised President Trump for his continued backing of Israel and expressed confidence that the administration’s approach would ultimately be recognized as the correct one.

“I believe Trump will continue to lead the policy he has declared, and ultimately the world will understand that there is no real alternative to this path,” Katz said.

Turning to Iran, Katz said Israel remains committed to confronting threats wherever they emerge, whether directly from Tehran or through Iranian-backed terror proxies operating throughout the Middle East.

“In Iran, Syria, Lebanon, Yemen, and everywhere else, there is no quiet. We continue to act to ensure the security of the State of Israel,” he said.

The defense minister said Israel’s two strikes against Iran’s nuclear facilities marked a historic turning point and significantly degraded the regime’s nuclear capabilities.

“We destroyed Iran’s nuclear program and removed an existential threat to the State of Israel. Now our responsibility is to ensure that they cannot rebuild it,” he said.

Katz revealed that long before those operations were launched, Israel’s defense establishment had already begun preparing for the possibility of carrying out additional strikes if Iran attempted to restore its nuclear program.

“We knew that Ali Khamenei would try to restore Iran’s nuclear program and military capabilities, and therefore we instructed the IDF to be prepared for another strike if necessary,” he said.

He praised the IDF for what he described as its highly effective performance during the campaign and credited the unprecedented military cooperation between Israel and the United States as a major strategic achievement.

“Prime Minister Binyomin Netanyahu succeeded in doing something no one before him had achieved-bringing the United States to act alongside Israel against Iran. Together we delivered a severe blow to the Iranian regime,” he said.

Katz said Israel continues monitoring developments across the region, including issues affecting maritime trade routes and the Strait of Hormuz.

“If the Iranians strike us, we will respond with full force. That is our policy, and it is absolutely clear. We inflicted severe damage on Iran’s military and strategic infrastructure. Anyone wondering what happened there-the answer is simple: Iran suffered a very heavy blow.”

He added that Israel would participate in any future American strikes against Iran only “if Trump asks.”

Reflecting on the October 7 massacre, Katz said the attack permanently transformed Israel’s national security doctrine and ended any possibility of returning to previous policies toward terrorist organizations.

“In the past, we were told that limited operations were enough, that we could allow workers from Gaza to enter Israel and continue with routine life. Today there are no longer any such dilemmas,” Katz said. “We see the reality on the ground-there is no going back to what existed before October 7.”

According to Katz, the IDF now follows a doctrine centered on maintaining security control over areas from which terrorist threats can emerge, rather than waiting to respond after attacks occur.

“The IDF’s role is to protect Israeli residents from the other side of the border, not to wait for the enemy to reach our communities. We protect Israel’s citizens and do not rely on anyone else’s guarantees.”

He said that strategy is now being implemented in Gaza, southern Lebanon, Syria, and throughout Judea and Samaria, stressing that Israel has no intention of withdrawing from strategically important areas where its military presence is needed to prevent terrorists from regrouping.

Discussing operations in Judea and Samaria, Katz noted that Israeli forces have conducted extensive operations inside the refugee camps of Jenin, Nur Shams, and Tulkarm—the first such large-scale operations there since the Six-Day War.

“We dismantled the terrorist infrastructure, evacuated a large portion of the population from the combat zones, and the IDF has remained on the ground to prevent the terrorists from returning,” he said.

Katz said the new strategy is already producing measurable results.

“We are seeing an approximately 80 percent decline in terrorist activity in Judea and Samaria. That is the result of a clear policy-not simply entering and leaving, but maintaining control of the area for as long as necessary. And if needed, we will act in additional locations as well.”

The defense minister also highlighted the government’s efforts to expand Jewish communities in Judea and Samaria, saying recent cabinet decisions reflected that commitment.

“We are strengthening not only security but also settlement. The government has approved the establishment of 104 new communities in Judea and Samaria, along with approximately 160 new farms. This is an unprecedented move that reflects our commitment to strengthening Israel’s presence in the region,” he said.

Closing his remarks, Katz vowed that Israel would continue implementing its post-October 7 security doctrine and would not permit terrorist organizations to regain footholds near its borders.

“We will not return to the reality that led to October 7. We will act wherever necessary to ensure the security of the citizens of Israel.”

Katz also turned briefly to domestic policy, saying the government remains committed to completing its judicial reform agenda.

“We will complete the judicial reform,” he said.

The Bank of Japan kept its benchmark interest rate at 1% Friday but signaled that further increases may come sooner if the weak yen continues raising import prices and pushing inflation above the central bank’s target.

Policymakers voted 8-1 to maintain the overnight call rate at around 1%, according to the Bank of Japan’s official monetary-policy statement. Board member Hajime Takata favored an immediate quarter-point increase to 1.25%, arguing that price risks required a faster response.

Friday’s decision came only six weeks after the central bank raised rates to their highest level in more than three decades. Holding steady gives officials additional time to measure the effect of that increase while preserving the option of tightening again in September or October.

Governor Kazuo Ueda said inflation risks were increasingly tilted upward and warned that waiting too long could eventually force the bank to raise rates more abruptly. Such a move could destabilize financial markets and weaken economic growth, making the timing of the next increase especially important.

Currency pressure is driving much of that concern. The yen recently fell beyond 160 to the dollar and reached its weakest level in roughly four decades before suspected government intervention temporarily lifted it.

A weaker yen lowers the dollar price of Japanese exports but raises the local cost of oil, food, raw materials and other imported goods. Those increases can spread through transportation, manufacturing and household expenses, keeping inflation elevated even when domestic demand is modest.

Government currency intervention provides only temporary support when the underlying interest-rate gap remains wide. U.S. rates are still substantially higher than Japan’s, encouraging investors to hold dollar-denominated assets and placing continued pressure on the yen.

Japan’s central bank now faces competing risks. Raising rates could strengthen the currency and reduce imported inflation, but it would also increase borrowing costs for businesses, households and the government.

That last concern is unusually important because Japan carries one of the world’s largest public-debt burdens. Even gradual increases in bond yields can make government financing more expensive and create volatility across banks, insurers and pension funds holding large amounts of Japanese government debt.

The Bank of Japan slightly raised its economic-growth outlook while lowering its near-term inflation projection. Officials now expect the economy to expand 0.6% during the current fiscal year, followed by growth of 0.8% in each of the following two years.

Consumer inflation excluding fresh food is projected at 2.5% for fiscal 2026, down from the 2.8% forecast issued in April. Despite that reduction, the central bank said underlying inflation is moving toward its 2% objective and could exceed expectations if energy prices or the yen worsen.

Strong global demand for artificial-intelligence infrastructure is supporting Japanese exports and production. Suppliers of semiconductor equipment, electronic components, industrial machinery and advanced materials are benefiting as data-center investment expands worldwide.

Middle East disruptions create the opposite pressure. Japan imports most of its energy, leaving businesses and consumers highly exposed when oil and natural-gas prices rise or shipping routes become less dependable.

American companies also have reason to watch the decision. A weak yen makes Japanese cars, machinery and electronics cheaper in dollar terms, giving Japanese exporters a pricing advantage against U.S. manufacturers.

Importers purchasing products from Japan may benefit from lower dollar costs, while American exporters can find their goods becoming more expensive for Japanese customers. A rapid yen recovery following intervention or another rate increase could reverse those effects with little warning.

Financial markets must also consider Japan’s importance as a source of global capital. Japanese investors hold large quantities of foreign bonds, including U.S. Treasurys. Higher rates at home can encourage some of that money to return to Japan, potentially lifting borrowing costs in the United States and other markets.

Friday’s decision avoided an immediate shock, but it did not remove the underlying pressure. The weak yen, elevated energy costs and widening dissent inside the Bank of Japan are increasing the probability that the central bank will raise rates again before the end of the year.

JBizNews Desk | Tokyo

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President Donald Trump on Friday rejected reports that Iran was likely behind the recent cyberattack on more than 30 Minnesota water systems, instead placing responsibility squarely on Minnesota officials and sharply criticizing Gov. Tim Walz.

Speaking at the opening of a Cabinet meeting at Camp David, Trump addressed the cyberattack that disrupted water facilities across the state and dismissed claims that Tehran was responsible.

“I just want to mention that we heard in Minnesota there was a cyberattack, and they blame it on Iran,” he said.

Trump argued that the real problem was Minnesota’s leadership rather than a foreign adversary.

“I don’t think so. I think I blame it on Minnesota because they’re grossly incompetent,” Trump said. “There was a cyberattack of 30 water plants, and I would blame it on Minnesota and the governor, the corrupt governor of Minnesota. They like to say, oh, is Iran? Iran should be so lucky. Iran’s got bigger problems than worrying about Minnesota.”

The president’s comments contradict preliminary findings reportedly shared by federal and state officials, who have indicated that Iranian hackers are the leading suspects. Security experts have also noted that Iranian cyber operations have previously succeeded by exploiting poorly protected internet-connected equipment at American water facilities, including systems secured with default or nonexistent passwords.

Walz fired back on X, accusing Trump of ignoring the available intelligence.

“Trump knows exactly who is responsible for this attack, and knows that other states were hit too. This is what modern warfare looks like, and it further illustrates there’s no plan to win a war with Iran.”

Trump has frequently criticized Walz since the 2024 campaign, repeatedly accusing the Minnesota governor of overseeing widespread fraud within the state’s publicly administered social services programs.

Walz, who served as the Democratic nominee for vice president in 2024, announced in January that he would not seek a third term as governor amid growing criticism over his administration’s handling of those fraud scandals. Although the controversies unfolded during his tenure, Walz has not been accused of personally participating in any fraudulent activity.

Minnesota IT Services said the attack was a coordinated operation that struck operational technology at more than 30 community water systems over the course of Sunday and Monday. State health officials emphasized that there is no indication residents need to alter their drinking water use, saying the Minnesota Department of Health is “not aware of any active requests from Minnesota cities to have their residents modify their drinking water usage.”

According to The New York Times, U.S. and Minnesota officials familiar with the ongoing investigation believe Iranian hackers were likely responsible for the coordinated attack.

Even so, Minnesota IT Services cautioned that investigators have not yet conclusively identified the culprit, saying officials have not determined whether a “specific actor” carried out the cyberattack and that the investigation remains ongoing.

The cyber intrusion temporarily disrupted automated operations in several municipalities. In Braham, malicious software disabled controls at the community’s well and water treatment plant, while Plymouth and South St. Paul switched portions of their systems to manual operation. Officials said there was no evidence that drinking water safety had been compromised.

Just days before the Minnesota incident, federal cybersecurity agencies warned that hackers linked to Iran were actively targeting the computerized control systems used by water utilities, power infrastructure, and local governments. The agencies said similar attacks had already interrupted operations at some facilities and caused financial damage, concluding that the campaign appeared designed to create disruption inside the United States.

Iranian cyber groups have previously targeted American water infrastructure.

In 2023, according to the Cybersecurity and Infrastructure Security Agency, hackers connected to Iran’s Islamic Revolutionary Guard Corps infiltrated programmable controllers at several U.S. water and wastewater facilities.

Those attacks generally succeeded because the targeted equipment was exposed to the internet and protected by default passwords—or no passwords at all. Although some utilities temporarily moved operations offline, officials said no public drinking water supplies were contaminated.

Federal prosecutors have also pursued Iranian hackers in earlier cases. In one incident dating back to 2013, the Justice Department charged an Iranian hacker with repeatedly accessing the control system of a small dam in Rye, New York. Prosecutors said the intrusion could have allowed him to remotely operate the dam’s sluice gate, but the gate had already been disconnected manually for maintenance, preventing any damage.

{Matzav.com}

A new rival to Wall Street officially debuted on Friday as the Texas Stock Exchange went fully live for the first time with trading available for all of its listed tickers.

The Texas Stock Exchange, which is based in Dallas, is the first new major stock exchange to launch in the U.S. in decades. The TXSE, called the “Tex-ee,” is looking to compete with the New York Stock Exchange and Nasdaq Composite for listings.

The exchange boasts several prominent financial backers, including BlackRock, Goldman Sachs and Charles Schwab, among others.

It currently plans to begin corporate listings later this year and intends to facilitate initial public offerings (IPOs) starting in 2027. The TXSE sees the economic rise of Texas and a broader swath of the South that it’s calling the “Boom Belt” as being the “center of gravity for American capitalism” and a market it can tap into for IPOs.

“As the only primary corporate and ETP listings venue built and headquartered in the Boom Belt, TXSE is both a product of the region’s rise and a catalyst to accelerate it,” TXSE explained.

The company’s website notes the region has an annualized GDP of $8.9 trillion – more than all world economies other than the U.S. and China. It adds that 40% of American exports pass through the Boom Belt, while 57% of U.S. job growth has occurred in the region in the last five years.

Currently, the exchange is operating from temporary offices in the Uptown neighborhood of Dallas, where it will hold a bell-ringing ceremony Friday afternoon to mark its official launch.

A NEW ECONOMIC IRON CURTAIN IS FALLING ACROSS AMERICA AS TRILLIONS IN WEALTH FLEE TO THE ‘BOOM BELT‘

The exchange plans to move its permanent headquarters to the city’s Bank of America Tower, where it will operate the Texas Market Center.

The tower will be the tallest building in Uptown Dallas when it’s completed. The exchange’s Texas Market Center will include executive offices, a Texas business museum and a broadcast studio.

An announcement by designer KPF from May added that the exchange will take up multiple areas within the building, including ground-floor space and a 12th floor sky lobby.

The opening of the Texas Stock Exchange comes as the Lone Star State is working to attract businesses looking to relocate their headquarters or change their state of incorporation, touting business-friendly policies and favorable tax regimes in comparison to states like California and Texas.

The Texas Stock Exchange’s rivals – the New York Stock Exchange and Nasdaq – have also expanded their footprint in the state of Texas and have enticed companies to dual list on the new duplicate exchanges at no cost.

Police in Bulgaria evacuated nearly 200 passengers from a Viking cruise ship after the vessel ran aground due to “exceptionally low water levels” in the Danube River. 

The Bulgaria News Agency reported that the ship became stranded early Tuesday about 15 miles upstream from Vidin, where it planned to stop to take on supplies. Bulgarian border police ended up rescuing 186 passengers after another ship dispatched to the scene wasn’t able to get close enough to pick them up. 

“We can confirm that the Viking Ullur experienced a grounding incident on the Danube River on July 28, 2026, after coming into contact with a sandbank during a period of exceptionally low water levels,” Viking said Friday in a statement to FOX Business. 

“The safety and wellbeing of our guests and crew is always our highest priority. There were no injuries, and the vessel remained safe throughout the incident,” it added. “The ship was well-stocked with all necessary supplies, including food and water, to keep guests and crew safe and comfortable.” 

“Guests were safely transferred ashore and continued their planned itinerary, including a full day in Bucharest,” Viking also said. 

Attempts to refloat the vessel Tuesday morning were unsuccessful, according to the Bulgaria News Agency.

All of the passengers were from European countries and there were 52 crew members onboard as well, it added. 

The current status of the crew members and location of the ship wasn’t immediately clear. Viking did not immediately respond to an inquiry on the matter. 

Viking said on its website that the Viking Ullur, built in 2019, is 443 feet long. 

A prolonged drought in the region has been setting record low water levels on the Danube River, The Associated Press reported.

A Reuters investigation alleges that a Dubai-based cryptocurrency exchange played a central role in a massive sanctions-evasion network, processing at least $4 billion in digital assets tied to Iranian interests, including entities linked to online gambling and the Islamic Revolutionary Guard Corps (IRGC).

According to the investigation, the exchange—identified as Shelbit—operates out of Dubai despite reportedly lacking a license and is managed by an Iranian expatriate. Reuters said its findings were based on transaction data supplied by two cryptocurrency investigative firms along with an independent blockchain analyst.

The report states that one of Shelbit’s largest clients is a sprawling Farsi-language online gambling operation consisting of more than 2,000 websites. The network is reportedly controlled by two Iranian social media influencers with ties to the Iranian government. Reuters noted that both men, along with Shelbit’s operator, were convicted in Iran in 2023 in an illegal gambling case.

Although gambling is outlawed in Iran and punishable under the country’s laws, Reuters reported that the gambling network nevertheless has access to Iran’s online payment infrastructure, which falls under the supervision of the Iranian central bank.

Investigators told Reuters that blockchain records traced tens of millions of dollars in cryptocurrency flowing from the gambling operation to Shelbit. Based on the available data, they estimate the exchange has handled at least $4 billion in digital assets since May 2024.

The investigation also alleges that Shelbit moved hundreds of millions of dollars in cryptocurrency through major global platforms, including Binance. Reuters further reported that the exchange conducted transactions involving wallets that the Israeli government has linked to the IRGC, Iran’s central bank, and Nobitex, the Iranian cryptocurrency exchange that was sanctioned by the United States earlier this year.

According to Reuters, investigators also traced a portion of the cryptocurrency reaching Shelbit to what they identified as an Iranian bitcoin mining operation.

Reuters said its investigation drew on interviews with more than 30 sources, including former IRGC affiliates, a former Iranian government official, senior insiders familiar with the alleged network, and other individuals with firsthand knowledge of its operations.

{Matzav.com}

A disbarred attorney who continued representing clients after losing his law license has been sentenced to probation after admitting he stole more than $70,000 through deception while unlawfully practicing law.

David T. Schlendorf, 54, of Holladay, Utah, was sentenced in Ocean County Superior Court to three years of probation after previously pleading guilty to five counts of theft by deception and one count of unauthorized practice of law, according to the Ocean County Prosecutor’s Office.

Judge Guy P. Ryan also ordered that Schlendorf have no contact with any of his victims. Prosecutors said Schlendorf has paid full restitution totaling $70,755.

Schlendorf entered his guilty pleas on April 27.

Authorities said the investigation began after a Toms River resident hired Schlendorf in March 2025 to handle a legal matter and paid him approximately $10,000. Investigators later determined Schlendorf falsely represented himself as a licensed attorney despite having been disbarred in New Jersey in December 2022.

Schlendorf was arrested in Toms River on Oct. 7, 2025, by detectives from the Ocean County Prosecutor’s Office Economic Crime Squad and the Toms River Police Department. He was lodged in the Ocean County Jail before being released under New Jersey’s bail reform policies.

Investigators later identified five additional victims who hired Schlendorf between January 2023 and September 2025, paying him approximately $60,000 for legal services he was not authorized to provide.

The case was prosecuted by Supervising Assistant Prosecutor Shanon Chant-Berry. The investigation was conducted jointly by the Ocean County Prosecutor’s Office Economic Crime Squad and the Toms River Police Department Detective Bureau.

Electronic Arts said Thursday that its $55 billion sale to a consortium led by Saudi Arabia’s Public Investment Fund has received all required regulatory approvals, clearing the way for one of the largest leveraged buyouts in history to close next week.

The video-game publisher expects the transaction to be completed around the close of trading on August 4, according to a filing with the Securities and Exchange Commission. EA will then leave the public market and become privately owned by the Saudi fund, Silver Lake and Affinity Partners.

Shareholders are set to receive $210 in cash for each EA share. The purchase price represented a roughly 25% premium to the company’s unaffected stock price when the agreement was announced in September 2025.

European Union approval under the bloc’s Foreign Subsidies Regulation removed the final major obstacle. That review examines whether financial support from governments outside the EU gives buyers an unfair advantage when acquiring companies that operate inside the bloc.

Ordinary competition clearance had already been granted. The additional subsidy review carried greater significance because Saudi Arabia’s Public Investment Fund is controlled by the kingdom and has become one of the world’s largest state-backed investors.

EA’s filing said every regulatory approval required to complete the merger had been obtained by July 30. Only customary closing conditions remain.

The deal will place franchises including EA Sports FC, Madden NFL, Battlefield, The Sims and Apex Legends under private ownership. Those titles give the buyers access to recurring revenue from annual releases, digital subscriptions and in-game purchases tied to some of the world’s largest sports and entertainment brands.

Financing creates the transaction’s central business risk. Approximately $20 billion of the purchase is expected to be funded with debt, leaving the newly private company responsible for substantial interest payments and increasing pressure to generate predictable cash.

Large leveraged buyouts typically depend on cost reductions, stronger margins and eventual growth in the value of the acquired company. For EA, that may mean greater concentration on its most profitable franchises, tighter control over development budgets and fewer resources for smaller or experimental games.

Going private could give management more time to develop products without quarterly earnings pressure. It could also make internal restructuring less visible because EA will no longer publish the same detailed financial results required of a publicly traded company.

Employees and game developers therefore face uncertainty over whether the new owners will prioritize investment or savings. Debt-heavy acquisitions can produce layoffs, studio consolidation and canceled projects when expected revenue does not materialize quickly enough.

Consumers may see the impact through pricing and product strategy. EA’s sports games increasingly rely on subscriptions, digital content and recurring player spending rather than the sale of a single game. Private-equity ownership could accelerate that shift because repeat purchases provide the dependable cash flow needed to service acquisition debt.

Saudi Arabia gains a different advantage. The acquisition expands the kingdom’s influence across gaming, sports and entertainment as it works to diversify its economy beyond oil.

The Public Investment Fund already owns stakes in major video-game companies and controls Savvy Games Group, which acquired mobile-game publisher Scopely. Adding EA gives the kingdom influence over some of the world’s most recognizable sports-game properties and a direct commercial relationship with leagues, athletes and millions of players.

Silver Lake brings experience investing in technology and entertainment, while Affinity Partners adds another financial sponsor to the consortium. EA Chief Executive Andrew Wilson is expected to remain in his position, and the company plans to keep its headquarters in Redwood City, California.

Regulatory approval does not remove the financial challenge. Higher global interest rates make the $20 billion debt burden more expensive than it would have been during the earlier era of cheap financing, increasing the importance of stable game sales and digital revenue.

Once the transaction closes, attention will shift from whether the buyers can acquire EA to how they intend to earn a return on the largest gaming buyout ever completed. The answer will determine whether private ownership gives the company freedom to invest for the long term or forces it to extract more money from its biggest franchises.

JBizNews Desk | Redwood City, California

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

A new report claims that Yesh Atid MK Yoav Segalovitz is preparing to leave his party and join Mansour Abbas’s Islamist Ra’am faction, a move that could reshape the party’s image and broaden its appeal ahead of Israel’s next Knesset elections.

According to the report, Segalovitz has been weighing a political alliance with Ra’am and is expected to run on the party’s slate in the upcoming national vote.

Ynet reported that Segalovitz is currently vacationing in Thailand and is due back in Israel next week.

Upon his return, he is expected to sit down with Abbas to finalize the terms of his entry into the party and complete the remaining details of the political agreement.

Polling conducted on behalf of Ra’am reportedly found that Segalovitz is the only Jewish politician who commands broad confidence among Arab voters. Party officials believe his addition could significantly strengthen Ra’am’s standing and expand its electoral support.

According to the report, Abbas has been working for some time to persuade Segalovitz to join the party, believing that the inclusion of a well-known Jewish lawmaker would help counter criticism from right-wing politicians and activists who have long targeted the faction.

The report also says Abbas is weighing a rebranding effort that would include changing the party’s name to one that would be more appealing and accessible to Jewish voters.

National Security Minister Itamar Ben Gvir blasted the reported move, saying: “The truth has finally come out. For years, I said that Segalovitz paid money to crime families and strengthened them, and today there is proof: he is joining Mansour Abbas on a joint list that will greatly please the crime gangs. We took away the money that Segalovitz and Bennett transferred to crime families under the Muslim Brotherhood government. Now Segalovitz and Mansour, in a joint comeback, want to give it back to them.”

President Donald Trump said Friday that the United States has not yet committed to allowing Ukraine to manufacture Patriot missile systems under U.S. license, signaling a possible reversal on what Kyiv has viewed as one of its most important defense objectives in the war against Russia.

Speaking during a Cabinet meeting, Trump explained that the sophisticated Patriot technology is not something Washington can hand over lightly. He warned that any nation granted access to such advanced systems could eventually become a threat to the United States.

“You have to be very careful,” Trump said. He added that discussions with Ukraine are continuing and emphasized that the two sides are still “talking about it.”

Trump’s remarks came just three days after meeting with Ukrainian President Volodymyr Zelenskyy at the White House. Following that meeting, Zelenskyy described the discussions as productive and said the two leaders had held a “good meeting” focused on securing licenses for Patriot missile production.

The latest comments appear to contrast with Trump’s position from less than three weeks ago, when he stated during the NATO summit in Turkey that the United States would provide Ukraine with the necessary licenses to produce the air defense system.

Further uncertainty emerged on Thursday, when Trump told the Financial Times he was “not sure” whether he would ultimately authorize Kyiv to manufacture the “extraordinary weapon.”

Ukraine has repeatedly argued that the Patriot system is essential to defending its cities from Russia’s ballistic missile attacks, with Zelenskyy describing it as a critical component of the country’s air defense strategy.

Following a phone conversation Friday with Vice President JD Vance, Zelenskyy said the licensing issue continues to be one of Ukraine’s most urgent priorities.

“We agreed that our teams will stay in touch and work through everything discussed today,” Zelenskyy wrote in an X post. “I thank the United States for its support of Ukraine and our people.”

{Matzav.com}

Israel’s obligations under the newly released Gaza roadmap are deliberately “backloaded,” reversible and directly tied to verified progress in dismantling Hamas’s weapons and military infrastructure, a senior Board of Peace official told i24 News.

The official pushed back against claims that the plan requires Israel to halt its military operations and begin withdrawing from Gaza before Hamas takes meaningful steps toward disarmament. Instead, the roadmap is structured so that Israel’s most significant commitments would occur only as Hamas fulfills its obligations and control is transferred to the new Gaza administration and the International Stabilization Force.

Under the plan, every stage of implementation must be independently verified before the parties advance to the next phase. Israeli withdrawals would therefore be linked to the removal of weapons, the dismantling of tunnels and weapons-production facilities, and the establishment of alternative security arrangements inside Gaza.

The Board of Peace official stressed that Israel’s commitments are not irreversible concessions made in advance. Should Hamas fail to disarm or violate the agreement, Israel would not be required to continue withdrawing or surrender its ability to respond to threats.

The clarification comes amid fierce criticism in Israel over language in the roadmap calling for an immediate cessation of Israeli military operations, a gradual IDF withdrawal and the eventual transfer of civilian and security authority to a new Palestinian governing body.

Israeli officials have made clear that the IDF will not withdraw from the current Yellow Line without the genuine disarmament of Hamas. The central dispute remains one of sequencing: Hamas is demanding that Israel first halt its operations and fulfill previous commitments, while Israel insists that it cannot make further withdrawals as Hamas remains armed and continues rebuilding its capabilities.

The Board of Peace official’s comments seek to reassure Israel that the roadmap does not require it to blindly fulfill every provision while waiting for Hamas to comply. Rather, the plan’s implementation is intended to move in stages, with Israeli steps tied to concrete and verified action on disarmament.

The real test, however, will not be the language of the document or the assurances offered by international officials. It will be whether Hamas actually hands over its weapons, dismantles its terror infrastructure and relinquishes the military power it has spent years building inside Gaza.

Until that happens, Israel’s position remains unchanged: There can be no meaningful withdrawal and no genuine peace while Hamas remains armed.

(YWN World Headquarters – NYC)

Treasury Secretary Scott Bessent said in an interview on Thursday that he expects economic growth to pick up later this year with core inflation trending lower, while he warned that there have been growing tensions with China over artificial intelligence and rare earths.

Bessent spoke with FOX Business’ Edward Lawrence following Thursday’s release of the initial estimate of second quarter GDP growth, which showed GDP slowed to 1.5% annualized growth from 2.1% in the first quarter.

The Treasury secretary said that the GDP “number is very noisy because a lot of that was very technical,” explaining that releases from the Strategic Petroleum Reserve to ease energy prices came out of GDP and that “core GDP was actually quite strong.”

“We’re seeing manufacturing is doing well, the jobs numbers are strong, the consumer is strong. So it was a technical adjustment in the number, I wouldn’t worry about it,” Bessent said, adding that he thinks GDP is “going to be substantially above 2% for the year.”

Thursday also saw the release of the June personal consumption expenditures (PCE) index which showed the Federal Reserve’s preferred inflation gauge slowed to an annual rate of 3.7% last month, down from 4.1% in May.

Core PCE, which excludes volatile food and energy prices, also declined to 3.3% from 3.4% the prior month. Both measures remain well above the Fed’s 2% target.

Bessent said that he sees the trend in core inflation as important, saying the report showed it and service inflation declining.

“Energy can be volatile,” Bessent added, saying that “we’ll get to the other side of the Iran war, and you know it will come down.”

The Treasury secretary was also asked about recent economic friction between the U.S. and China over issues like AI development and supplies of rare earth minerals that are used in advanced tech and military hardware.

“The good thing is the overall relationship comes down from the top, and President Trump, Xi Jinping have a very good relationship. But, you know, that’s not an excuse for them to do things underneath the surface,” Bessent said.

“Sometimes I describe it as a water polo match where our leaders could be hitting the ball back and forth, but under the water, the Chinese seem to have done a lot of kicking lately. And you know, if we have to, we’ll kick back,” the Treasury secretary explained.

“We expressed our concern that the rare earths are not flowing as freely as they could, that they have taken some measures that are detrimental to U.S. businesses. And we said that if this continues, we will push back,” he added.

Bessent said that “we expressed our concern over Chinese AI that there is large-scale distillation” of American AI models that are making their way back into the U.S., adding that “we like open source, but open source has got to be legal – it’s not an excuse for IP theft.”

Lawrence asked Bessent if the Trump administration has raised the issue of U.S. tech companies’ AI model watermarks appearing in Chinese models.

“Well, we’ve done that at the staff level, and the good news is we are ahead of the Chinese in AI, I believe by a substantial amount, and they are number two,” Bessent said.

He added that the two superpowers do need to have conversations “because we want to make sure that non-state actors do not get a hold of a powerful model, that everyone increases their resiliency and that we cooperate towards those goals.”

A new residence for lone Chareidi soldiers has opened in Yerushalayim’s Kiryat Moshe neighborhood, becoming the 34th apartment established through a joint initiative of the Shomer Yisrael National Association for Chareidi Service and the Netzach Yehuda organization. Together, the network now provides housing and support for approximately 250 lone soldiers serving in a wide range of IDF units.

The newly dedicated apartment is home to seven Chareidi soldiers serving in various military frameworks, including the Netzach Yehuda Battalion, the Yoav Project, Bina B’Yarok, and the Intelligence Corps.

The apartment was donated by David Friedman of Los Angeles in memory of members of his family who survived the Holocaust, including his father, Rav Yaakov ben Mordechai Friedman, his mother, Chana Leah bas Rav Yitzchak Dovid, and his father-in-law, Rav Shlomo Yechiel Halevi ben Rav Moshe.

Speaking at the dedication ceremony, Rav Tzvi Kalbenau, president and one of the founders of Netzach Yehuda, said the concept of a home for lone soldiers extends beyond the military’s official definition.

“It is important to explain what a ‘home for a lone soldier’ really means, because it is not something that should be taken for granted,” Rav Kalbenau said. “In the IDF, a lone soldier is officially defined as someone whose parents do not live in Israel, but our definition is somewhat broader. The Chareidi community is rich and complex, and like every community it has its own dynamics. Those dynamics do not always leave every soldier feeling that he has somewhere to go on Friday night, or that someone is waiting for him when he comes home on leave. Our goal is simple: no soldier should have to face that reality alone. Every one of them deserves a place to call home, and a place where he truly feels at home.”

Rav Kalbenau also highlighted the personal sacrifices made by Chareidi soldiers, saying the organization has a responsibility to ensure they always have a welcoming place to return to.

“Every lone Chareidi soldier who walks through this door is giving something extraordinary of himself—his time, his comfort, and his place in a world that does not always make room for what he is doing. The least we are obligated to do in return is make sure that he never has to wonder where he will sleep, or whether anyone is happy to see him. A warm meal, a bed of his own, and someone who asks how he is doing. Simply, a home.”

Yehuda Shapira, director of the Lone Soldiers Housing Division at Netzach Yehuda, welcomed the opening of the new residence and said each apartment represents far more than a place to stay.

“Behind every door in these apartments is the life story of a soldier who chose to serve and, in many cases, has paid a difficult personal price for that decision,” Shapira said. “Our responsibility is not simply to provide a key and a bed, but to ensure they are entering a place where they feel wanted, supported, and secure. This apartment in Kiryat Moshe is not just housing—it is a home in the fullest sense of the word.”

Walgreens has begun accepting appointments and walk-in visits for flu vaccinations nationwide, launching its annual immunization campaign weeks before the traditional start of flu season. The pharmacy chain says customers age 3 and older can now receive flu shots at nearly all Walgreens locations, as health officials urge Americans to be vaccinated before respiratory viruses begin spreading this fall. 

The early rollout follows one of the most severe flu seasons in recent years. According to the Centers for Disease Control and Prevention, last season produced unusually high levels of illness, hospitalizations, and deaths, prompting pharmacies to encourage earlier vaccinations this year. Walgreens is also promoting same-day walk-ins, family scheduling, and appointments through its app and website to make vaccinations more convenient. 

Community pharmacies have become one of the nation’s primary vaccination providers. Walgreens says pharmacies administered nearly 38 million flu vaccine doses during the previous flu season, reflecting a growing shift away from traditional doctor’s offices for routine immunizations. 

For consumers, the earlier availability provides more flexibility to schedule vaccinations before school resumes, travel increases, and workplaces become busier. Pharmacists also recommend reviewing eligibility for other seasonal vaccines—including COVID-19, RSV, and pneumonia—during the same visit when appropriate. 

Businesses may also benefit from higher vaccination rates. Seasonal influenza contributes to millions of lost workdays each year, and employers increasingly encourage workers to receive vaccinations before virus transmission accelerates in the fall.

What to Watch Next

Health officials continue recommending that most people receive their flu shot by late October to maximize protection during peak flu season. Pharmacies are expected to expand vaccine promotions and employer clinics throughout August and September. 

JBizNews Desk | Deerfield, Illinois

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

Israeli police issued nearly 6,000 traffic citations during a nationwide enforcement operation targeting dangerous driving violations, including drunk and drug-impaired motorists, suspended drivers, and even driving instructors caught using their cellphones while conducting lessons.

The large-scale operation took place Thursday, with hundreds of police officers and volunteers deployed across the country’s highways and city streets. Authorities said the campaign focused on violations that pose a serious threat to public safety, while thousands of additional tickets generated through automated cameras are expected to be mailed in the coming days.

As part of the operation, police utilized a range of digital enforcement tools, including tactical cameras, still cameras, and automated traffic enforcement systems. Authorities said they have already processed 1,599 violations involving excessive speeding and drivers running red lights. Another 103 offenses were documented by the “Road Guardians” camera unit. All of those citations are expected to be mailed to vehicle owners within the next day.

According to police, officers issued a total of 5,924 citations during the operation. The breakdown included 1,072 tickets for cellphone use and distracted driving, 211 for speeding, 116 for running red lights, 165 for failing to yield to pedestrians, and 332 for vehicle equipment and usage violations.

Police also caught 14 motorists driving while their licenses were suspended, identified 17 unlicensed drivers, suspended the licenses of 42 additional motorists, impounded 81 vehicles, arrested 11 suspects, and issued 154 citations to riders of motorcycles and other two-wheeled vehicles.

Among the more unusual cases highlighted by police were several driving instructors who were caught using their cellphones while teaching students behind the wheel. Police said the practice endangers not only the student driver but also everyone else sharing the road.

In one incident in the Coastal District, officers arrested a driver who was allegedly operating a vehicle while both under the influence of drugs and driving with a suspended license.

In a separate case, police arrested a motorist who allegedly refused to comply with officers after being caught using a cellphone while driving and is also accused of assaulting a police officer.

Police said the enforcement campaign is part of “Committed to Life,” a joint initiative between the Traffic Police Division and the National Road Safety Authority aimed at reducing traffic fatalities. As part of the program, additional traffic patrol units have been deployed on roads throughout Israel.

Several members of the Lakewood Fire Department recently completed a Rope Rescue Technician training course presented by Safety and Survival Training at the Toms River Fire Academy, further enhancing the department’s technical rescue capabilities. During the course, the firefighters learned to build and operate a variety of rope rescue systems used in both high-angle and low-angle rescue operations, preparing them for challenging rescue situations.

Officials said the specialized training helps ensure firefighters are equipped to respond safely and effectively during technical rescue incidents. The department added that its members regularly participate in advanced training opportunities to expand their skills and remain prepared to meet the evolving needs of the Lakewood community.

The Lakewood Fire Department is always looking for volunteer firefighters. For more information and to sign up, visit LakewoodFD.org/join.

📸 via LFD

Economy and Industry Minister Nir Barkat says Israel will not return to relying on Palestinian labor, pledging instead to dramatically expand the country’s foreign workforce while declaring that the Palestinian Authority must ultimately be dismantled.

Speaking at a conference in Yerushalayim, Barkat recounted hosting soldiers from the IDF’s Force 100 prison unit at his home, where they described the emotional and personal toll of months spent on the battlefield. “Some lost their homes, others left the fighting with very difficult experiences. These are people who carried the security of the State of Israel on their shoulders,” he said.

Barkat also took aim at media reports scrutinizing Israeli soldiers, arguing that those serving in combat have been unfairly singled out. He pointed to a legal defense fund established under the leadership of Prof. Moshe Cohen-Eliya to represent IDF soldiers facing legal action overseas because of their military service. “The fund will stand by every soldier who finds himself in legal proceedings as a result of his military service. This is our duty toward those who defend the State of Israel,” he said.

Turning to Israel’s labor force, Barkat reaffirmed that he opposes allowing Palestinian workers back into the country. Instead, he said the government has focused on bringing in workers from nations that maintain peaceful relations with Israel. According to the minister, approximately 52,000 foreign workers are now employed across the country, replacing about 24,000 Palestinian laborers who had been working in Israel before the war. He added that the government is preparing to authorize the arrival of thousands more foreign workers to address ongoing labor shortages.

Barkat also highlighted what he described as the strength of Israel’s economy despite the prolonged conflict. He said Israeli exports totaled roughly $169 billion in 2025 and projected economic growth of about five percent. He added that Israel is expanding its commercial relationships throughout Asia, including negotiations on a free trade agreement with India, while advancing regulatory reforms aimed at boosting competition, increasing imports, and lowering the cost of living.

The minister argued that Israel’s military successes have enhanced the country’s global reputation, leading more governments to seek partnerships with Israel in areas such as security, innovation, high-tech, agriculture, and food technology.

“Never has the State of Israel been stronger and more in demand,” Barkat said. “When I meet economy ministers around the world, they tell me they cannot understand the Israeli phenomenon-while in other countries citizens flee during wartime, Israelis have asked to return home even under fire.”

{Matzav.com}

The United States is reportedly considering reducing its military presence in Kuwait, according to a Wall Street Journal report, following months of heightened tensions and attacks during the conflict with Iran.

According to U.S. officials, the Pentagon had been evaluating the possibility even before the war with Iran began. However, after Iranian attacks targeted U.S. installations in Kuwait, some American forces were temporarily relocated to reduce their exposure.

The potential drawdown has raised concerns in Kuwait that the temporary reduction could become permanent. Since the 1991 Gulf War, Kuwait has served as one of the U.S. military’s largest logistics hubs, hosting thousands of American troops, M1 Abrams tanks, and other military equipment.

Despite the reported discussions, the Wall Street Journal said relations between Washington and Kuwait remain strong, with no indication that Kuwait intends to reduce its reliance on the United States for its defense.

During the conflict with Iran, Kuwait came under repeated missile and drone attacks targeting energy infrastructure, desalination facilities, the international airport, and port facilities. U.S. air defense systems intercepted most of the incoming projectiles, but American bases in Kuwait also came under heavy attack, including a March strike that killed six U.S. service members.

Former U.S. Ambassador to Kuwait Douglas Silliman told the Wall Street Journal that the attacks caused many Kuwaitis to view the American military presence as both a burden and a vital necessity for the country’s security.

Former Pentagon official Elizabeth Dent said the key question is whether maintaining such a large U.S. force in Kuwait remains sustainable if tensions with Iran continue. She warned that a permanent reduction could weaken Washington’s long-term security commitment to Kuwait.

(YWN World Headquarters – NYC)

Mortgage rates climbed to their highest level in a year Thursday, adding hundreds of dollars to the cost of financing a typical home and threatening to push more prospective buyers out of an already difficult housing market.

Freddie Mac said the average rate on a 30-year fixed mortgage rose to 6.66% from 6.58% a week earlier, marking the fourth consecutive weekly increase. The average 15-year fixed rate climbed to 6.04% from 5.96%.

The latest move reverses much of the relief buyers received earlier this year, when the 30-year rate briefly fell close to 6%. For a household borrowing $400,000, a 6.66% rate produces a monthly principal-and-interest payment of approximately $2,571, before property taxes, homeowners insurance and association fees are added.

That same loan would have cost about $2,414 a month at 6.06%, the level reached in January. The difference is roughly $157 every month, or nearly $1,900 a year, without any change in the price of the home.

For many buyers, the larger effect is not simply a higher payment. Mortgage lenders qualify borrowers based partly on how much of their monthly income would be consumed by housing and other debts. As rates rise, some households must lower their offers, increase their down payments or abandon a purchase entirely.

A buyer who could previously afford a $500,000 property may now need to search at a lower price point to keep the payment within the same budget. That puts additional competition on moderately priced homes, where inventory is already limited.

Mortgage applications fell 6.4% during the week ending July 24, according to the Mortgage Bankers Association. Both purchase and refinancing activity weakened as higher rates reduced the financial benefit of replacing an existing loan or entering the market.

Refinancing has become especially unattractive for millions of homeowners who secured mortgages below 4% before borrowing costs surged. Replacing those loans at current rates would sharply increase monthly payments, even when homeowners need cash, want to shorten their loan term or hope to remove another borrower.

That gap has also intensified the housing market’s lock-in effect. Homeowners with low-rate mortgages are reluctant to sell because purchasing another property would require financing at a much higher rate. Fewer listings then help keep home prices elevated, leaving buyers squeezed by both borrowing costs and limited supply.

Mortgage rates do not move directly with the Federal Reserve’s overnight benchmark rate. They are more closely connected to yields on longer-term government debt, particularly the 10-year Treasury note, because mortgage-backed securities compete with Treasury bonds for investor money.

Treasury yields have risen as investors price in the risk that inflation could remain elevated and that interest rates may stay higher for longer. Rising oil and transportation costs have added to those concerns because energy expenses can spread into airfare, food distribution, deliveries, manufacturing and other consumer prices.

Although the Federal Reserve left its policy rate unchanged this week, disagreement among officials over whether inflation requires additional tightening has reduced expectations for rapid rate relief. Mortgage borrowers are therefore unlikely to benefit immediately even if the central bank eventually begins lowering short-term rates.

Consumers should also recognize that Freddie Mac’s weekly figure is an average, not a guaranteed offer. Actual mortgage quotes vary according to credit score, down payment, loan size, property type, location and whether the borrower pays upfront discount points.

Shopping among lenders can produce meaningful savings because even a quarter-point difference in rate can change a household’s payment and total interest expense. Borrowers should compare the annual percentage rate, closing costs and required points rather than focusing only on the advertised interest rate.

Adjustable-rate mortgages may appear more attractive when fixed rates rise, but they transfer future interest-rate risk to the borrower. Initial payments can be lower, yet the rate may reset upward after the introductory period, making the loan more expensive if market rates remain elevated.

Home builders and sellers may increasingly respond with financing incentives instead of large price reductions. Temporary rate buydowns, closing-cost assistance and permanent mortgage-rate subsidies can lower a buyer’s initial payment while allowing the seller to preserve the advertised property value.

Those concessions are less common in areas where housing supply remains tight, leaving many first-time buyers with fewer negotiating options. Renters considering a purchase must also weigh a mortgage payment against property taxes, insurance, repairs and other ownership expenses that have risen in many regions.

The next direction for mortgage rates will depend heavily on inflation data, Treasury yields and signals from the Federal Reserve. Until those pressures ease, the housing market is likely to remain caught between buyers who cannot comfortably afford current payments and owners unwilling to surrender mortgages obtained at historically low rates.

JBizNews Desk | Washington, D.C.

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

Buy Now, Pay Later (BNPL) services are no longer just financing big-ticket purchases. More Americans are now using installment plans to pay for groceries, household essentials, utility bills, and everyday shopping, reflecting growing pressure on household budgets even as inflation has cooled.

Payment providers report continued growth in transactions for lower-cost purchases, with consumers increasingly spreading payments over several weeks rather than paying the full amount upfront. Retailers have expanded BNPL options because they often increase sales and reduce abandoned online shopping carts.

While installment payments can help families manage cash flow, consumer advocates warn they also make it easier to overspend. Unlike traditional credit cards, shoppers may take on multiple BNPL loans across different platforms without realizing how quickly the obligations add up.

Banks and regulators are paying closer attention as the industry grows. Financial watchdogs have urged providers to improve disclosures, make repayment terms clearer, and strengthen consumer protections, particularly as more borrowers use installment financing for necessities instead of discretionary purchases.

For retailers, BNPL has become an important sales tool, especially among younger consumers who prefer predictable installment payments over revolving credit. Merchants also benefit from higher average order values and increased conversion rates when financing is offered at checkout.

Consumers considering BNPL should review repayment schedules carefully, understand any late-payment penalties, and avoid stacking multiple installment plans at once. Financial planners recommend treating BNPL as a budgeting tool rather than additional spending power.

What to Watch Next

As holiday shopping approaches, analysts expect retailers to promote Buy Now, Pay Later options more aggressively. Regulators are also expected to continue evaluating whether additional oversight is needed as installment financing becomes a mainstream payment method.

JBizNews Desk | New York

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President Donald Trump is moving his Cabinet meeting out of the White House on Friday, bringing his top officials to the presidential retreat at Camp David for high-level discussions focused on a wide range of domestic and international issues.

The session will be the 13th Cabinet meeting of Trump’s second term and comes as his administration confronts a full slate of priorities, including the conflict with Iran, military operations, federal spending, economic policy, and preparations for the November midterm elections.

White House Press Secretary Karoline Leavitt said the change of venue would give Cabinet members a unique opportunity to meet together at the historic retreat. According to ABC News, she described the gathering by saying it “will be a lot of fun and something different for the Cabinet to experience together.”

Friday’s meeting marks Trump’s first Cabinet session at Camp David during his second term. A similar gathering had been planned in May but was called off because of unfavorable weather.

Administration officials have said the secluded presidential compound offers an ideal environment for lengthy policy discussions away from Washington, allowing the president and his senior advisers to focus on major national security and governmental issues.

Iran is expected to be at the center of Friday’s agenda as Trump considers the next phase of the conflict, which has now entered its fifth month.

The administration is also closely tracking energy prices, with rising gasoline costs remaining a significant political issue as Republicans prepare for the upcoming midterm elections.

Trump has repeatedly pledged to keep maximum pressure on Iran while ensuring the security of international shipping routes and safeguarding American interests throughout the Middle East.

Senior administration officials have consistently argued that maintaining a strong military posture is essential to discouraging further aggression by Tehran and the terrorist groups it supports across the region.

Since returning to office, Trump has made comparatively few trips to Camp David, choosing instead to spend many weekends at his golf clubs.

Friday’s visit will be only his third trip to the presidential retreat during his second term.

Camp David has long served both as a private presidential retreat and as one of the nation’s most secure locations for sensitive diplomatic negotiations and national security meetings.

Every president since Franklin D. Roosevelt has used the Maryland retreat, which occupies 180 wooded acres in the Catoctin Mountains.

Roosevelt established the facility in 1942 and originally named it Shangri-La, inspired by the fictional paradise in James Hilton’s novel Lost Horizon.

President Dwight D. Eisenhower later renamed the retreat Camp David in honor of his grandson.

The compound is perhaps best remembered as the site of the 1978 Camp David Accords, where President Jimmy Carter successfully brokered a landmark peace agreement between Israel and Egypt.

Trump’s Cabinet meetings have drawn attention for both their length and their openness to media coverage.

Unlike many previous administrations, Trump has routinely allowed television cameras to remain throughout the public portion of Cabinet meetings as department heads brief reporters on the work of their agencies.

More recently, however, the president has encouraged Cabinet members to keep their remarks concise after several earlier meetings extended for hours.

After the meeting concludes, Trump is expected to head to his golf club in Bedminster, New Jersey, where he plans to spend the weekend.

{Matzav.com}

The IDF announced that it has killed Mohammed Kafina, a senior terrorist who participated in the October 7 massacre, helped abduct Noa Argamani and Avinatan Or, and oversaw the kidnapping of Sudthisak Rinthalak.

According to the military, Kafina was eliminated in a targeted airstrike carried out Tuesday in southern Gaza. He served as the commander of the central Gaza sector for the terrorist organization Kataeb al-Mujahideen.

The IDF said Kafina crossed into Israel during the October 7 attack, leading the group of terrorists who infiltrated alongside him. During the assault, he personally took part in the abduction of Noa Argamani and Avinatan Or and directed the kidnapping of Sudthisak Rinthalak.

Israeli officials added that throughout the war, including in recent weeks, Kafina continued planning and advancing terrorist attacks targeting both IDF forces and Israeli civilians.

The military said intelligence indicated that Kafina posed an immediate threat to Israeli troops. As a result, he was killed in what the IDF described as a precise aerial strike.

{Matzav.com}

New York sued Kalshi on Friday, accusing the federally regulated prediction-market operator of running an illegal gambling business and escalating a legal fight that could determine whether event-contract platforms can operate nationwide without obtaining state gaming licenses.

The lawsuit, announced by Governor Kathy Hochul and Attorney General Letitia James, seeks to stop Kalshi from offering allegedly unlawful wagers in New York, recover customer losses, force the company to surrender gains and impose civil penalties worth as much as three times those proceeds. 

Kalshi allows customers to buy contracts tied to whether future events will happen, including sports outcomes, elections, economic reports and corporate developments. Winning contracts generally settle at $1, while losing positions expire without value.

That structure has helped prediction markets present themselves as financial exchanges rather than sportsbooks. Prices can also be interpreted as the market’s estimated probability of an outcome, giving businesses and investors another way to measure expectations or hedge against specific events.

New York argues that the economic substance is still gambling when customers risk money on sports and other uncertain outcomes. State officials say Kalshi has accepted wagers without the licenses, consumer protections and tax obligations imposed on legal gaming operators.

Age restrictions are another part of the dispute. Kalshi permits participation beginning at 18, while New York requires customers using mobile sports-betting platforms to be at least 21. State regulators contend that the difference exposes younger customers to products they could not legally access through licensed sportsbooks.

Kalshi’s defense rests on federal law. The Commodity Futures Trading Commission designated the company as a contract market in 2020, placing it under the same federal regulatory framework used for futures exchanges. Its status remains active, and the CFTC later expanded Kalshi’s authority to support intermediated futures trading. 

Company attorneys have argued that the Commodity Exchange Act gives federal regulators exclusive authority over contracts traded on federally designated exchanges, preventing individual states from treating those products as gambling.

A federal judge weakened that position earlier this month. U.S. District Judge Analisa Torres denied Kalshi’s request to block New York from enforcing its gambling laws, concluding that the company had not shown that federal commodities law displaced state regulation of its sports-event contracts. 

Friday’s lawsuit moves the conflict from a defensive regulatory dispute into a direct enforcement action. New York is no longer merely asserting its authority to investigate Kalshi; it is asking a court to impose financial consequences and halt the company’s operations within the state.

The outcome could reshape one of the fastest-growing areas of financial technology. A New York victory may encourage other states to bring similar cases, forcing prediction-market operators to block customers by location, restrict sports products or seek gaming licenses in dozens of jurisdictions.

Such a system would weaken one of Kalshi’s primary commercial advantages: operating a single national exchange rather than navigating separate state betting rules.

A victory for Kalshi could produce the opposite result. Federal recognition of event contracts as regulated derivatives would give prediction markets a path to offer sports and political products nationwide while bypassing state gaming commissions, casino partnerships and sportsbook taxes.

Traditional gambling companies have significant exposure to that question. Licensed sportsbooks spend heavily to obtain state approvals, comply with local advertising restrictions and pay gaming taxes. Prediction markets operating solely under federal oversight could compete for many of the same customers without carrying the same regulatory costs.

Financial firms are also watching closely. Event contracts can serve purposes beyond entertainment by allowing businesses to offset risks tied to inflation, interest rates, weather, government policy or economic releases. Broad state restrictions could limit those legitimate hedging uses along with sports speculation.

Consumer protections will remain central to the case. New York says its gambling laws provide safeguards involving age verification, responsible-gaming controls and oversight of betting products. Kalshi maintains that federal exchange rules already impose market surveillance, capital requirements and protections against manipulation.

New York’s action therefore reaches far beyond one company. The court must decide whether changing the label from a wager to a contract changes which government has the authority to regulate it — a decision that could determine whether prediction markets become a new national financial industry or another form of gambling governed state by state.

JBizNews Desk | New York

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Apple lost more than $400 billion in market value Friday morning as investors looked past its strongest June quarter on record and focused instead on a warning that component shortages could prevent the company from meeting demand.

Shares fell about 9% to roughly $303 by late morning, reducing Apple’s market capitalization from nearly $4.9 trillion at Thursday’s close to about $4.46 trillion. The decline erased approximately $450 billion in value within the first two hours of trading.

Few companies have ever been large enough to lose that much money in a day. The amount erased was greater than the entire market value of most publicly traded U.S. corporations.

What made the selloff more striking was that Apple did not report a weak quarter.

Revenue rose 16% from a year earlier to $109.42 billion, while net income climbed 27% to $29.79 billion. Earnings reached $2.02 per share, exceeding analysts’ estimates, and iPhone revenue increased nearly 22% to a June-quarter record of $54.25 billion.

Mac sales jumped almost 29% to $10.35 billion, helped by strong demand for newer computers. Apple also reported double-digit revenue growth across its geographic regions and major product categories.

Yet the results described what Apple had already sold. Friday’s market reaction reflected concern about what the company may be unable to produce next.

Management forecast revenue growth of 9% to 11% for the September quarter, below Wall Street expectations near 12%. Apple attributed the softer outlook primarily to limited supplies of advanced chips and memory components used across the iPhone, Mac and iPad.

Chief Executive Tim Cook described the constraints as very significant and indicated that Apple had limited flexibility to obtain enough components from alternative suppliers.

That warning challenged one of the assumptions supporting Apple’s nearly $5 trillion valuation: that its scale and purchasing power could protect it from the shortages affecting smaller electronics manufacturers.

Demand remains strong. The immediate problem is whether Apple can manufacture enough devices to capture it.

A shortage can damage results in several ways even when consumers still want the product. Apple may lose sales when devices are unavailable, pay more to secure components, absorb higher manufacturing costs or raise prices and risk weakening demand.

Memory prices have already contributed to increases on selected Mac and iPad products. The company has so far avoided comparable increases on the iPhone, its largest source of revenue, but sustained component inflation could make that position harder to maintain.

Apple’s gross margin reached 50.1% during the quarter, although tariff refunds provided part of the benefit. Excluding those refunds, the margin would have been closer to 48.1%, leaving less room to absorb rising component costs without affecting profits or customer prices.

Services also failed to provide the reassurance investors wanted. Revenue from subscriptions, the App Store, cloud storage, advertising and other services rose about 12% to $30.74 billion but came in below market expectations.

That miss matters because services have become central to Apple’s effort to generate more revenue from its installed customer base without depending entirely on new device sales. Services also generally produce higher margins than hardware.

Investors are therefore confronting pressure on both sides of Apple’s business. Hardware growth may be limited by supply, while the company’s most profitable recurring-revenue segment is expanding more slowly than anticipated.

Friday’s decline also reflected the premium already built into the shares. Apple briefly crossed $5 trillion in market value earlier in the week, meaning investors were valuing the company not only for its existing earnings but for near-flawless execution across hardware, services and artificial intelligence.

At that size, even a strong quarter can disappoint when the outlook falls short.

The selloff contrasted sharply with Amazon’s double-digit gain Friday after its cloud division reported accelerating growth. Microsoft had surged a day earlier after similarly strong cloud results.

Wall Street’s response shows that investors are not simply rewarding or punishing technology spending. They are distinguishing between companies whose infrastructure investments are creating visible new capacity and those facing physical constraints that could limit sales.

Apple still generated nearly $30 billion in quarterly profit and remains one of the world’s most valuable businesses. Its customer loyalty, cash generation and installed device base were not erased by one trading session.

Friday’s loss instead reflected how much confidence was embedded in the stock before the earnings report.

The next test will be whether shortages ease before Apple’s major fall product cycle. Investors will watch device availability, component pricing, iPhone production, services growth and whether the company can protect margins while securing enough chips to meet demand.

Apple proved that customers are still buying. The market’s concern is that the company may not have enough products to sell them.

JBizNews Desk | Cupertino, California

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The IDF announced that its forces arrested more than 200 wanted terror suspects across Judea and Samaria over the past week, thwarted an imminent terrorist attack, confiscated weapons and explosives, and sealed the home of a terrorist ahead of its planned demolition.

Israeli troops carried out dozens of counterterrorism raids throughout Judea and Samaria as part of an intensified campaign targeting terrorist networks and their infrastructure.

According to the IDF, those taken into custody included suspects accused of inciting and promoting terrorism, operatives affiliated with the Hamas terrorist organization, an individual who was allegedly preparing to carry out an imminent terrorist attack, suspects involved in smuggling illegal residents into Israel, illegal arms traffickers, and a wanted suspect connected to the production of explosive devices.

During the operations, security forces also seized dozens of weapon-manufacturing components, airsoft guns, hunting rifles, a handgun, an unmanned aerial vehicle (UAV), and tens of thousands of shekels that authorities said were earmarked for terrorist activity. Troops additionally located and dismantled five explosive devices.

The military also completed the mapping of the homes belonging to the two terrorists responsible for last weekend’s attack. One of the residences has already been sealed in preparation for its demolition, the IDF said.

Ocean County is receiving over $13 million from the New Jersey Transportation Trust Fund (TTF) for help with infrastructure projects throughout the county.

The $13,135,227 million is part of a total of $165 million which was appropriated in the Fiscal Year 2027 state budget to help make infrastructure improvements on the local level.

The State’s 21 counties will share a total of $165 million through the County Aid program that helps maintain roads and bridges under county jurisdiction in a state of good repair for the thousands of motorists that count on them each day.

Ocean County received the second-most in the state, trailing only Bergen County.

This year’s County Aid allocation represents a $15 million increase over the previous fiscal year, made possible through the five-year renewal of the Transportation Trust Fund approved by state lawmakers in 2024. The additional funding is part of a broader effort to increase Local Aid investments for counties and municipalities.

County Aid funds are apportioned based on population and road mileage in each county, and each county selects the projects that receive funding.

Counties are required to submit eligible projects, identified in the County’s annual Transportation Program to NJDOT for approval prior to December 1, 2026. Projects may be improvements to public roads and bridges under county jurisdiction, or other transportation related work.

Ukraine has unveiled a new interceptor drone designed to destroy Iranian-made Shahed attack drones used extensively by Russia in its war against Ukraine.

Ukrainian company Skifall introduced the P1-SUN “Jetkiller,” saying the interceptor was developed in just three months in response to a request from Ukraine’s security forces for a dedicated anti-drone system.

According to the company, the Jetkiller has already been tested against dozens of targets on the battlefield with successful results.

The interceptor can reach speeds of approximately 370 km/h (230 mph), compared with about 310 km/h (193 mph) for its predecessor. While Shahed drones can reportedly reach speeds of around 400 km/h (249 mph), Skifall said they do not maintain that speed throughout their flight, allowing the new interceptor to catch and destroy them.

The company said mass production of the Jetkiller is expected to begin in August, with a planned manufacturing capacity of approximately 50,000 units per month.

(YWN World Headquarters – NYC)

Citadel has acquired most of the publicly traded holdings of Situational Awareness after the AI-focused hedge fund suffered a 67% July loss and was forced to unwind leveraged positions.

The sale transfers a multibillion-dollar portfolio of semiconductor, data-center, memory and energy stocks to Ken Griffin’s firm after falling share prices left Situational Awareness unable to continue financing its bets.

Founded by former OpenAI researcher Leopold Aschenbrenner, the fund became one of Wall Street’s fastest-growing investment firms by betting that artificial intelligence would require far more computing power, electricity and digital infrastructure than markets expected.

Those positions produced a reported 439% gain during the first half of 2026. The same concentrated strategy unraveled in July as several AI-linked holdings fell sharply and borrowed money magnified the damage.

Citadel purchased most of the public stocks financed with leverage. The price and exact size of the transaction were not disclosed.

Situational Awareness is expected to retain about $10 billion in assets, largely through private investments that were not included in the sale. Among them is its stake in Anthropic, preserving exposure to one of the largest privately held AI developers.

The transaction gives Citadel control of assets sold under financial pressure rather than through a planned exit, positioning the firm to benefit if AI infrastructure stocks recover.

Aschenbrenner has told investors that Situational Awareness intends to continue operating with a revised strategy and less dependence on borrowed money. Despite July’s collapse, the fund reportedly remained up approximately 80% for the year because of its earlier gains.

The sale shows how leverage can turn a temporary market decline into a permanent loss of ownership. Situational Awareness may have been right about AI’s long-term growth, but it could no longer afford to wait.

JBizNews Desk | Wall Street

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New York City Mayor Zohran Mamdani is leaving the door open to cash reparations for descendants of those harmed by slavery, saying he will wait for the recommendations of a city-appointed commission before deciding whether to support direct payments.

During an interview with Charles Blow for The Root, Mamdani was asked whether he would back financial reparations if the city’s reparations commission ultimately recommended them for New Yorkers affected by slavery.

Blow referenced remarks Mamdani made during his mayoral campaign, when he declared, “New York City participated actively in the slave trade and furthered its legacy through racist institutions, policies, and laws. The city should reconcile and repair this legacy of slavery, stolen wealth and discrimination.”

Responding to the question, Mamdani reaffirmed that position but declined to commit to any specific proposal before the commission completes its work. “First, I want to say that I stand by what I submitted. It’s the truth. It’s not a personal assessment. And we often think about slavery and the complicity in slavery as being exclusively to certain geographic areas of the country. Here in New York City, we were very complicit. So I look forward to whatever those findings are. I can’t give you an answer in advance of them, but I can tell you that this is critically important because this is also what it looks like to acknowledge what history truly was,” Mamdani responded.

The commission examining the issue, known as the New York City Commission on Racial Equity (CORE), was established in 2024 under Local Law 92. Its mandate is to investigate the city’s historical involvement in slavery and evaluate the lasting consequences of that history. A companion measure, Local Law 91, created a separate Truth, Healing and Reconciliation initiative intended to provide a public process for acknowledging slavery’s legacy and its continuing effects on New Yorkers.

According to the commission’s timeline, the Truth, Healing and Reconciliation planning report is expected in June 2027, followed by the commission’s final reparations report the next month. If adopted, implementation of the Truth, Healing and Reconciliation initiative is scheduled to begin by June 18, 2028.

Linda Tigani, chair and executive director of NYC CORE, praised Mamdani for publicly recognizing New York City’s role in slavery while emphasizing that the commission believes acknowledgment alone is insufficient. “We would like to thank the Mayor for using his platform to acknowledge New York City’s complicit history in chattel slavery. New York was home to the second-largest slaveholding population in America, after Charleston, South Carolina. The first commodities traded on Wall Street included the buying and selling of enslaved Black people, and their brutal forced unpaid labor built one of the most powerful economic engines in the world. Recognizing this history is an important step toward understanding the enduring legacy of slavery and its impact on our city and nation,” Tigani told Fox News Digital.

She continued by arguing that the city must move beyond recognition and address what she described as the long-term economic consequences of slavery. “We must repay the longstanding debt owed and truly tackle the racial wealth gap in New York City which is directly correlated to the stain of slavery in New York City. Since the passing of Local Law 91 and 92, the NYC Commission on Racial Equity has reached thousands of New Yorkers to formulate recommendations to pay the debt and advance permanent structural change to end racist practice in our city.”

Despite welcoming Mamdani’s comments on slavery, the commission has also publicly criticized his administration. Earlier this year, after the mayor unveiled his Preliminary Citywide Racial Equity Plan, CORE argued that the proposal failed to satisfy requirements laid out in the New York City Charter.

At the time, Tigani warned that the city could not afford to retreat from racial equity efforts, particularly in the current national political climate. “At a moment when communities across the country are deeply concerned about the direction of racial justice and equity under Donald Trump’s national political climate, New Yorkers made clear through our five-borough town halls that city government has a responsibility to lead with accountability and investments in communities most impacted by inequity,” she said.

CORE’s assessment concluded that the mayor’s proposal lacked several key elements, including a comprehensive citywide racial equity strategy, race-disaggregated data standards, neighborhood accountability measures, a meaningful response to concerns raised during community outreach, and transparent funding specifically tied to racial equity goals.

The commission has continued holding public events throughout the city to build support for its work. One of its largest efforts came during this year’s Juneteenth observance, which Forbes described as New York City’s biggest reparations gathering to date.

Political strategist Tyrik Washington, who has worked with CORE on its reparations research, said the event was intended to blend community celebration with policy discussions. “The goal of the event for NYC CORE was to create a space where joy, community, and civic engagement were at the center of both commemorating Juneteenth and advancing the conversation around reparations and racial equity,” he told the outlet in June.

Washington also expressed confidence that reparations could produce measurable economic improvements if enacted. “If reparations policies were implemented in New York City today, I believe that within five to ten years we would see measurable reductions in occupational segregation and meaningful progress toward pay equity for Black New Yorkers.”

Earlier this year, CORE released a progress report highlighting that $500,000 had been designated for community organizations participating in a Reparations, Truth, Healing, and Reconciliation Network during 2026.

According to the report, more than two dozen organizations are expected to receive grants worth tens of thousands of dollars to organize discussions about the city’s reparations study and gather public input as officials develop the Truth, Healing and Reconciliation plan.

The report also states that the funding is intended to compensate participants for the time they spend taking part in the discussions and to cover meeting expenses, including refreshments.

{Matzav.com}

Artificial intelligence is beginning to create a measurable divide across the restaurant industry, with operators using AI reporting lower labor costs, reduced food waste, and stronger profitability than competitors that have yet to adopt the technology. A new mid-year industry survey found restaurants using AI are outperforming peers by automating back-office operations rather than replacing cooks or servers. 

The study, conducted by restaurant management platform Restaurant365, surveyed more than 420 restaurant operators representing nearly 10,000 U.S. locations. Among businesses actively using AI, 62% reported lower labor costs, 61% reduced food costs, and 88% said AI saves employees time every week. Nearly one-third of AI users reported overall cost reductions of 6% or more. 

Rather than replacing restaurant workers, most operators are deploying AI behind the scenes. The technology is being used to forecast customer demand, optimize employee schedules, manage inventory, reduce food waste, analyze sales trends, and automate routine administrative tasks. Those improvements allow managers to operate more efficiently while maintaining staffing levels during busy periods. 

Not every restaurant is rushing to embrace AI. Some major chains are taking a cautious approach, arguing that reliable technology, faster payment systems, better kitchen equipment, and improved employee tools deliver greater value than adopting AI simply because it is popular. Several executives say AI must improve the customer experience—not become a distraction. 

For consumers, AI could eventually mean shorter wait times, fewer out-of-stock menu items, and more consistent pricing. Restaurant owners, meanwhile, see AI as one way to offset rising labor expenses and food inflation without relying solely on menu price increases.

What to Watch Next

As labor costs remain elevated, analysts expect AI adoption to accelerate across both independent restaurants and national chains. The biggest winners are likely to be businesses that use AI to support employees and improve operations rather than simply eliminate jobs. 

JBizNews Desk | Irvine, California

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These two children – formerly in Lakewood for treatment – lost their mother to a rare condition and are now in need of much Rachmei Shomayim.

An Israeli man convicted of carrying out espionage and sabotage missions on behalf of Iranian intelligence has been sentenced to seven years in prison after accepting thousands of dollars in payment for completing assignments inside Israel.

The Nazareth District Court on Thursday sentenced 35-year-old Artyom Zolotarev, an Israeli citizen from Nof HaGalil, to seven years behind bars after convicting him of contact with a foreign agent, espionage, and property damage.

According to the court, Zolotarev maintained ongoing contact with Iranian intelligence operatives over a period of several months. During that time, he carried out multiple assignments across Israel in exchange for cumulative payments totaling several thousand dollars.

In addition to the prison sentence, the court imposed a 12-month suspended sentence, a fine of 10,000 shekels, and ordered Zolotarev to pay 10,000 shekels in compensation to each of the four vehicle owners whose cars were directly damaged in the arson attacks he carried out.

Zolotarev was originally arrested in December 2024 after Israeli security authorities accused him of maintaining contact with intelligence operatives working for the Iranian regime and performing security-related missions in Israel under their direction in return for financial compensation.

Investigators said he was taken into custody after carrying out numerous acts of graffiti in Nof HaGalil, Haifa, and Migdal HaEmek, as well as setting fire to a vehicle in Haifa.

According to the investigation, Zolotarev spray-painted dozens of pieces of graffiti in the three cities, documenting each act with photographs and videos that he forwarded to his Iranian handler. After sending the material, he erased the graffiti because he did not want members of the public to see the messages he had written. In exchange for completing those assignments, he received $2,800 in cryptocurrency.

{Matzav.com}

Saudi Arabia is reportedly preparing for a large-scale military operation against the Iranian-backed Houthis in Yemen, including a possible naval assault and a ground offensive aimed at breaking the group’s grip on key Red Sea shipping routes.

According to reports citing Yemeni sources, Saudi forces have been repositioning in eastern Yemen in what is believed to be preparation for a broader campaign. The effort is reportedly intended to restore secure oil export routes through the southern Red Sea after the Houthis announced a blockade on Saudi shipping earlier this month.

Saudi Arabia is also working to establish a multinational naval coalition to protect commercial shipping in the Red Sea and the Bab el-Mandeb Strait. According to reports, 14 countries—including Turkey, Pakistan, Egypt, Sudan, and Djibouti—have issued a joint statement supporting the initiative.

The Houthis, who control Yemen’s capital, Sanaa, and much of the country’s Red Sea coastline, announced on July 20 that they were imposing a blockade on Saudi vessels. The group said the blockade would remain in place until Saudi Arabia lifts restrictions it has imposed on Yemen, while insisting the dispute is centered on Yemen rather than a direct confrontation with Iran.

Saudi Arabia has also reportedly asked the United States and several European nations—including Germany, France, Britain, and Italy—to join the maritime coalition. It remains unclear whether the Houthis intend to target only Saudi-linked vessels or broader commercial shipping.

The reported escalation comes as the Red Sea has become increasingly vital to Saudi oil exports. Since the outbreak of the conflict with Iran, much of the kingdom’s crude oil exports have relied on the Strait of Hormuz, making alternative export routes through the Red Sea strategically important.

According to the report, Saudi Defense Minister Prince Khalid bin Salman recently held urgent meetings with President Donald Trump and Vice President JD Vance to discuss the next steps. While Saudi Arabia is determined to protect its energy infrastructure and shipping lanes, officials reportedly believe diplomacy remains preferable to a wider military conflict with Iran.

Saudi Arabia previously led a seven-year military campaign against the Houthis from 2015 to 2022 in support of Yemen’s internationally recognized government, but the coalition achieved only limited military success.

(YWN World Headquarters – NYC)

YSR.

A warm and mostly dry weekend is expected across Borough Park, with a mix of sunshine and clouds through Sunday. While skies will be cloudier at times, the next chance for rain is expected to hold off until Sunday night.

Friday will feature a mix of sun and clouds with a high of 85 degrees and a low of 70 degrees. Light winds and seasonable conditions will make for a pleasant Erev Shabbos.

Shabbos will be mostly cloudy with a high of 84 degrees and a low of 73 degrees. Despite the increased cloud cover, dry weather is expected to continue, making for another comfortable summer Shabbos.

Sunday will bring a mix of sun and clouds with a high of 83 degrees and a low of 73 degrees. Most of the daytime hours are expected to remain dry, before the chance for rain increases Sunday night.

Beginning August 1, New Jersey restaurants, food trucks, cafes and other food service businesses will no longer be allowed to automatically include single-use plastic utensils, condiment packets or napkins with takeout and delivery orders unless customers specifically request them, as the state’s new “Skip the Stuff” law takes effect.

The law, signed earlier this year by former Governor Phil Murphy on the final day in office, is intended to reduce unnecessary plastic waste and encourage customers to take only the disposable items they need. State officials and environmental advocates say millions of plastic forks, knives, spoons and condiment packets are discarded unused each year.

Under the new requirements, restaurants may still provide single-use utensils, napkins and condiments, but only after a customer asks for them. The rules apply whether an order is placed in person, over the phone, online or through a third-party delivery service. Digital ordering platforms must default to providing no disposable utensils or condiments, requiring customers to actively opt in if they want them included.

The law also changes dine-in service. Full-service restaurants with seating for 10 or more customers must provide reusable, washable utensils for patrons eating on-site instead of disposable plastic cutlery.

Certain facilities are exempt, including K-12 schools, healthcare facilities and correctional institutions. Self-service stations may continue offering individual utensils and condiments, provided they are not distributed in bundled disposable packs.

Businesses that fail to comply will receive a warning for a first violation. A second violation may result in a fine of up to $100, while third and subsequent violations can carry penalties of up to $250. Revenue from fines will support the state’s Clean Communities Program Fund for litter cleanup and public education.

The law will be phased in further over the next two years. Beginning August 1, 2027, restaurants will no longer be permitted to distribute bundled disposable utensil packs, and additional requirements for certain casual dining establishments and food courts take effect August 1, 2028.

The measure builds on New Jersey’s broader efforts to curb single-use plastics, including the state’s 2022 ban on single-use plastic carryout bags, polystyrene foam food-service products and restrictions on plastic straws.

ExxonMobil’s second-quarter profit more than doubled from a year earlier as higher oil prices and widening refining margins turned global energy disruptions into the company’s strongest earnings performance since 2022.

The company reported $14.5 billion in net income for the three months ended June 30, compared with $7.1 billion a year earlier. Adjusted earnings reached $14.7 billion, or $3.52 a share, while operating cash flow totaled $23.6 billion and free cash flow rose to $17.2 billion.

Behind the surge was a rare combination that benefited both sides of ExxonMobil’s business. Oil prices climbed as conflict disrupted Middle Eastern production and shipping, while shortages of refined fuels increased the amount companies could earn by turning crude into gasoline, diesel and jet fuel.

Brent crude averaged $96.68 a barrel during the quarter, 23% above its first-quarter level. Higher prices strengthened ExxonMobil’s production earnings even as shutdowns and delayed shipments reduced some of the volume available from Qatar and the United Arab Emirates.

Refining operations provided another major lift. Global fuel shortages increased margins on gasoline, diesel and other products, allowing ExxonMobil to earn more from each barrel processed. The company also reached record quarterly diesel production as its refineries operated at high rates to supply markets facing reduced availability.

That refining advantage carries a direct cost for the wider economy. Trucking companies, airlines, manufacturers and retailers face higher transportation and distribution expenses when diesel and jet-fuel supplies tighten, while households absorb the pressure through gasoline prices and more expensive goods.

ExxonMobil returned $9.4 billion to shareholders during the quarter, including $4.3 billion in dividends and $5.1 billion in stock repurchases. Strong cash generation also allowed the company to reduce net debt by approximately $7 billion.

Despite the profit increase, shares fell in premarket trading after adjusted earnings missed analysts’ expectations. Investors had already driven the stock sharply higher in anticipation of an energy windfall, leaving less room for a positive reaction when the final result arrived.

Production averaged approximately 4.5 million barrels of oil equivalent a day, down from 4.6 million during the first quarter. Middle Eastern disruptions offset growth from ExxonMobil’s expanding operations in the Permian Basin and Guyana.

Permian output exceeded 1.8 million barrels a day, reinforcing the importance of U.S. shale production as foreign supplies become less dependable. ExxonMobil’s acquisition of Pioneer Natural Resources gave it a larger position in the region and more ability to increase production without relying on international shipping routes.

Guyana is expected to provide the next major source of additional supply. A fifth offshore production vessel is scheduled to begin operating during the fourth quarter, with capacity of approximately 250,000 barrels a day.

Those projects could help replace lost Middle Eastern output, but they cannot immediately solve the shortage of global refining capacity. Producing more crude does not automatically create more gasoline or diesel if refineries lack the ability to process it, which helps explain why fuel prices can remain elevated even when oil production rises.

The quarter also illustrates why energy-company profits can increase during disruptions that damage parts of their own operations. ExxonMobil lost production in the Middle East, but the higher prices and refining margins generated across the rest of its system more than compensated for those losses.

Management now faces a choice over how to deploy the windfall. Additional investment could expand production and refining capacity, while dividends and repurchases provide faster returns to shareholders. ExxonMobil has so far continued both, funding major projects while maintaining its annual share-buyback program.

For businesses and consumers, the next development will depend less on ExxonMobil than on the global supply system around it. Reopened shipping routes and restored energy facilities could quickly reduce crude and fuel prices. Continued disruption would support another period of exceptional oil-company earnings while extending cost pressure throughout transportation, manufacturing and household budgets.

JBizNews Desk | Spring, Texas

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

A growing petition signed by roughly 50,000 people is urging organizers of New York City’s 25th anniversary commemoration of the September 11 terrorist attacks to limit Mayor Zohran Mamdani’s participation, even as the mayor insists he will attend the solemn event.

By this morning, the petition had amassed over 57,000 signatures. Those behind the effort cite concerns over Mamdani’s public comments and some of his associations, although several of the claims referenced in the petition remain disputed.

Mamdani has consistently voiced strong support for Palestinians, arguing that Israel has subjected them to disproportionate military action during its war against Hamas. His critics counter that Hamas’ October 7 attack left Israel with little alternative. While Mamdani has repeatedly described the September 11 attacks as an act of terrorism—reaffirming that position again on Wednesday—some critics say they remain unconvinced about his broader views regarding Islamic terrorism.

The petition concludes by stating, “We respectfully ask that the organizers carefully consider whether Mr. Mamdani’s participation would align with the intention of the ceremony and the expectations of the families most directly affected by the tragedy.”

Among those who signed is Meryl Mayo-Marshall, whose husband, Robert Mayo, was killed during the attacks.

“I spoke with him that morning twice,” Mayo-Marshall told NewsNation’s “Morning in America.” “And I pleaded with him to please leave this space, and he said, ‘I can’t live with myself, I’m trained in evacuation and I have to stay and save as many lives as I can,’ and that’s what he did.”

In the days that followed, Mayo-Marshall provided DNA samples to investigators to assist in identifying her husband’s remains.

She said the pain of losing him has never faded despite years of trying to move forward.

“I’ve done everything I could to rebuild my life, but it feels like yesterday,” she said. “It’s still extremely painful, and I think what’s going on with certain people who represent others makes it harder.”

Mayo-Marshall said she would not object if Mamdani quietly attended the ceremony without taking part in the program. However, she said she would find it difficult to be present if he were scheduled to speak.

“I want it to be clear of the politics,” Mayo-Marshall said. “When I see the mayor it’s a trigger of those that he’s sympathetic to terrorists and prisoners. He appears to be disrespectful to law and order, especially NYPD.”

Despite the petition, Mamdani has made clear that he intends to participate in this year’s memorial observance.

Speaking Wednesday, the mayor reaffirmed his condemnation of the terrorists responsible for the attacks and said he plans to stand alongside victims’ families, survivors, and first responders during the ceremony.

“I will proudly honor the families, the survivors, the first responders forever impacted by that horrific terror attack by standing alongside them at this year’s 9/11 commemoration,” Mamdani said at a news conference. “Reaffirming that we will never forget the solemn day felt by all of us who calls this city home and, frankly, all of us who call this country home.”

For years, New York City’s annual 9/11 memorial has remained largely free of partisan politics, with mayors from both major parties participating in the observance. In 2024, the event drew national attention when President Joe Biden and Donald Trump stood side by side during the ceremony.

{Matzav.com}

By BoroPark24 Staff

With summer now in full swing, Boro Park has settled into a quieter pace as many families settled in the Catskills and summer destinations. As the neighborhood adjusts to its seasonal rhythm, many residents are wondering which Rebbes will be in Boro Park this Shabbos to attend the tefillos and their tishen.

• Amshinov - Eretz Yisroel
• Beis Chaim Shia - Boro Park 
• Bobov - White Lake
• Bobov-45 - Mesivta Camp, Parksville 
• Burshtin - Boro Park
• Chernoble - Monticello 
• Emunas Yisroel - Boro Park
• Kosov - Eretz Yisroel  
• Liska - Boro Park
• Lelov - Boro Park 
• Lelov - Boro Park 
• Minkatch - Boro Park 
• Rachmastrivka - Boro Park
• Sanz Klausenburg - Boro Park 
• Sanz Zmigrad - Bloombinburg
• Serdaheli - Serdaheli Camp 
• Skolya - Machne Skolya, South Fallsburg
• Skulen - Catskills
• Skver of BP - Machne Skver, Woodridge
• Ungvar - Boro Park 
• Viznitz BP - Machne Bnos Yisroel, South Fallsburg
• Viznitz Y-M - Boro Park 

Be sure to check back every Friday as we'll update the list weekly to reflect each Rebbe's Shabbos plans.

Sen. Bernie Moreno blasted Dr. Anthony Fauci following the former NIAID director’s repeated invocation of the Fifth Amendment before the Senate Committee on Homeland Security and Governmental Affairs, accusing him of exploiting the COVID-19 pandemic to conduct what amounted to a nationwide experiment on the American people.

Speaking on Breitbart News Daily after Wednesday’s hearing, the Ohio Republican was asked whether there had been any point during the pandemic when Fauci may have been sincerely trying to navigate an unprecedented crisis. Moreno said he was willing to give Fauci the benefit of the doubt—but only at the very beginning.

“I think the first month of the pandemic — that was probably something you could say because you just didn’t know, right? Like all of us didn’t know. You remember that, you know, February, March, April time frame. Everything was surreal. It was happening so fast. It was unprecedented,” Moreno said.

According to Moreno, whatever uncertainty existed in the early days quickly gave way to something far more troubling.

“Things we were being asked to do, but then it took a very dark turn. It became an experiment for this megalomaniac to treat the American public like lab rats,” Moreno said. “He was talking about rules that just intuitively made no sense.”

Moreno pointed to the six-foot social distancing rule as one example, arguing that it lacked any scientific basis and was simply invented by Fauci. He also criticized what he described as inconsistent mask policies, saying they defied common sense.

“You have to wear a mask. If you’re on the airplane, you can take it off while you’re eating. You have to put it back on, and just continue to do more and more harm. Now that was intuitively what a lot of — I say most Americans felt, but then we read the diaries,” the senator said, referring to journal entries in which Fauci allegedly documented COVID-19 fatalities before writing about his own celebrity and public recognition.

Moreno argued that the diary entries painted a disturbing picture of Fauci’s mindset.

“These are the diaries of a very, very sick man. This guy would write down how many people died that day, and then right afterwards would put entries like, ‘Got to meet Kim Kardashian today.’ ‘People say I’m the sexiest man alive.’ ‘I’m the most powerful person on the planet,’” Moreno said, adding, “This is a sick, sick, depraved human being.”

The senator also claimed that investigators were able to obtain the diary because Fauci had stored it on government computer systems.

“So the guy actually wrote the diary entries in the government computer systems. So thanks to RFK, he went in and and Tulsi Gabbard did a deep dive of all the systems, and they found the entire diary,” Moreno revealed. “He had put it on a government server.”

Moreno went on to reference allegations raised by Sen. Josh Hawley, claiming Fauci directed federal employees to pursue honors and monetary awards on his behalf while overseeing the nation’s pandemic response.

“And remember the other parts that my colleague Josh Hawley [R-MO] pointed out. This guy would have federal employees go out and solicit awards for him to receive cash awards, would nominate him for prizes. And by the way, let me ask you a question: When you’re busy all day managing this incredible pandemic, when do you have time to go home and say, ‘Dear diary, today…’ I mean, this is so crazy what this guy did,” Moreno pointed out.

He concluded by crediting Health and Human Services Secretary Robert F. Kennedy Jr., Director of National Intelligence Tulsi Gabbard, and Sen. Rand Paul for bringing the material to light.

“But thanks to RFK, Tulsi Gabbard, and the entire intelligence operation to be able to uncover this, and obviously to Rand Paul for putting it out to the public to see. I mean, it just confirms what so many of us thought. I mean, we knew this guy was absolutely awful,” he added.

The United States and Israel are reportedly considering a land blockade of Iran as part of a broader effort to increase economic pressure on the Iranian regime, according to a report by the British Telegraph.

The proposal is said to be one of several options under review by President Donald Trump and Prime Minister Binyamin Netanyahu. Under the plan, the U.S. and Israel would seek to persuade Iran’s neighbors and regional partners to tighten or close border crossings, restricting the flow of imports and exports into and out of the country.

According to the report, countries bordering Iran—including Iraq and Pakistan—could be asked to strengthen border controls in an effort to further isolate Tehran economically.

A senior Israeli official quoted by the Telegraph said, “What if you simply block the land? Suppose Iran can’t bring anything in and can’t send anything out.”

The proposal would face significant logistical and political challenges given Iran’s long borders with Iraq, Turkey, Pakistan, Afghanistan, Turkmenistan, Armenia, and Azerbaijan.

Retired U.S. Lt. Gen. Sean MacFarland told the Telegraph that a land blockade would be “almost impossible” to fully enforce. However, he said limiting Iran’s ability to conduct trade could further isolate the regime economically, while noting that such a strategy would likely require a military component as well.

(YWN World Headquarters – NYC)

The return-to-office movement is entering a new phase, with a growing number of major employers requiring workers to spend more time in the office as companies push to improve collaboration, productivity, and accountability. What began as recommendations has increasingly become mandatory attendance policies across corporate America.

Several large employers have recently expanded office requirements from two or three days a week to four or even five days for many teams. Executives argue that in-person work improves mentoring, speeds decision-making, strengthens company culture, and encourages innovation—particularly as businesses invest heavily in artificial intelligence and new product development.

The shift is also reshaping commercial real estate. Office buildings that struggled with low occupancy after the pandemic are beginning to see higher weekday traffic in major business districts, while companies continue reducing excess office space and redesigning workplaces around collaboration rather than assigned desks.

For employees, however, the transition comes with added commuting costs, childcare challenges, and less scheduling flexibility. Surveys continue to show many workers prefer hybrid arrangements, leading some companies to offer limited flexibility while others tie promotions, bonuses, or performance reviews more closely to in-office attendance.

Small businesses are also feeling the effects. Restaurants, coffee shops, dry cleaners, transit systems, and retailers located near office districts are seeing customer traffic gradually recover as more workers return during the week.

Labor experts expect return-to-office policies to remain a major issue through the remainder of the year as employers balance employee expectations with business performance. Companies that successfully combine flexibility with clear workplace expectations may have an advantage in attracting and retaining talent.

What to Watch Next

Analysts will be watching whether stricter office attendance policies improve productivity and financial performance—or whether they lead to higher employee turnover as workers continue seeking employers that offer greater workplace flexibility.

JBizNews Desk | New York

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

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Please help if you can. Every donation helps.

Please daven for Moshe ben Moria.

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A senior Trump administration official is under investigation following allegations that he threatened and shoved a colleague during a heated confrontation inside a State Department elevator earlier this month.

According to reports, Ali Motamedi, a special assistant to the U.S. envoy for Greenland, filed a complaint accusing Gavin Wax, chief of staff to the Under Secretary of State for Public Diplomacy, of placing a hand on his chest, threatening to assault him, and forcefully pushing him during the dispute.

Motamedi alleges the confrontation began over previous disagreements between their offices before escalating. In his complaint, he claims Wax warned him, “If you ever open your mouth about me or my family again, I’ll beat you up,” before making physical contact.

Supporters of Wax strongly dispute the allegations, claiming the argument centered on expense reimbursements and asserting that Motamedi had previously made remarks about Wax’s Jewish background and questioned his wife’s Catholic faith. Motamedi’s associates deny those accusations.

The State Department’s Office of Special Investigations has opened an inquiry into the incident and is reviewing whether security cameras captured the encounter. Conflicting reports have emerged over the existence and significance of any surveillance footage, with some sources saying no evidence has been found to support claims of physical violence, while others insist video shows at least some physical contact.

The investigation has also sparked claims from some State Department officials that the matter is moving slowly because of Wax’s perceived influence within President Donald Trump’s circle. Other officials have rejected those assertions.

The allegations are not the first involving Wax. Last year, a senior Small Business Administration adviser accused him of making threats related to workplace matters, and his name also surfaced in connection with leaked racist and antisemitic messages from groups affiliated with the New York Young Republican Club. Wax denied those allegations and remained in his position.

If investigators uncover evidence of criminal wrongdoing, the matter could ultimately be referred to the U.S. Department of Justice for possible prosecution.

(YWN World Headquarters – NYC)

Sen. Bernie Sanders is refusing to back away from his support for progressive Democratic candidates despite criticism from Sen. John Fetterman, vowing to continue campaigning for candidates he believes will challenge powerful financial interests and fight for working Americans.

The clash began after Fetterman questioned Sanders’ involvement in several key Democratic primaries during an interview with CNN’s Manu Raju on Tuesday. Referring to Sanders’ endorsement of progressive Michigan Senate candidate Abdul El-Sayed, Fetterman remarked, “maybe sit a few out,” before adding, “Maybe sit a few out, Bernie,” and, “You’re not helping.”

Sanders dismissed the criticism during an interview with CNN’s Kaitlan Collins, while alluding to ongoing speculation that Fetterman may eventually leave the Democratic Party.

“John — not going to take your advice,” Sanders replied.

He added, “We’re going to work as hard as we can not only to elect El-Sayed, but Peggy Flanagan in Minnesota and strong congressional candidates across the country who have the guts to start taking on big money and representing workers,” the senator continued.

Michigan’s Democratic Senate primary is set for Tuesday, when El-Sayed will face Rep. Haley Stevens for the party’s nomination. The winner will advance to the November general election against former Rep. Mike Rogers as the candidates compete to replace retiring Sen. Gary Peters.

A new Emerson College Polling/WLNS/WOODTV survey released Thursday showed El-Sayed holding a sizable advantage over Stevens. The poll found the progressive candidate with 54 percent support, compared with 39 percent for Stevens, giving him a 15-point lead heading into the final days of the campaign.

Collins also asked Sanders whether he would support Stevens if she were to defeat El-Sayed in the primary. Sanders and El-Sayed have both criticized Stevens over her backing of Israel and her acceptance of campaign donations from super PACs.

“I don’t know that she’d want me. I’d support her,” Sanders responded. “I want Democrats to control the Senate. I think both Haley and Abdul have made it clear that if the other candidate wins they will be supportive. So will I.”

{Matzav.com}

The Commerce Department indicated that the federal government is on track to dole out millions of dollars to seven companies to fund technology development but will require the businesses to fork over equity in exchange for the money.

“The Department of Commerce today announced the signing of 7 letters of intent to provide $874 million in federal incentives under the CHIPS and Science Act,” a Wednesday press release noted. “These incentives will support innovative domestic technologies to dramatically increase the performance of the world’s fastest computers, secure domestic supply chains, and strengthen U.S. leadership in the compute supply chain.”

The CHIPS and Science Act was passed by Congress and signed by President Joe Biden in 2022.

The seven companies, which include GlobalFoundries, Kepler, Multibeam Corporation, Extropic, Thintronics, OBSIDIA Semiconductors and Aeluma, “have entered into letters of intent with the Department of Commerce, and there will be further diligence and approval by the Department before final awards are made,” according to the announcement, which is posted on the National Institute of Standards and Technology site. “The Department will receive a minority, non-controlling equity stake in each company as a condition for receiving the funds to enhance the return for the U.S. taxpayer.”

The department detailed the planned funding allotments for each company should the government move forward.

“GlobalFoundries will receive up to $300 million to accelerate the domestic research and development of co-packaged optics by two to three years. By integrating photonics directly alongside AI processors, this technology will deliver ultra-fast, energy-efficient computing to reinforce U.S. leadership in AI infrastructure,” the release noted. “Kepler will receive up to $245 million for R&D to develop in the U.S. a new class of high-performance AI memory technology enabled by innovative 3D and ferroelectric technologies.”

“Multibeam Corporation will receive up to $140 million to develop advanced packaging technology to assemble and stack multiple chips and connect them with thousands of wires, which will enable more advanced systems necessary for AI and other advanced computing applications,” the department states. “Extropic will receive up to $75 million to develop thermodynamic sampling units (TSUs) which use natural thermal fluctuations to probabilistically solve complex problems spanning simulation, optimization, and AI, at a fraction of the energy consumed by conventional computing approaches.”

“Thintronics will receive up to $50 million to develop ultra-low-loss inter-layer dielectrics required for next-generation semiconductor interconnects and advanced packaging in high-performance compute, AI, and networking infrastructure,” the announcement states. 

“OBSIDIA Semiconductors will receive up to $34 million for R&D to deliver non-invasive counterfeit and malicious component identification systems to ensure provenance and traceability in secure supply chains for AI and advanced electronics,” the release notes. “Aeluma will receive up to $30 million to develop large diameter, indium-phosphide-free substrate technology used to fabricate photodetectors and lasers for AI photonic interconnects.”

“With today’s compute supply chain investments, the Trump Administration is accelerating America’s innovation engine,” Commerce Secretary Howard Lutnick said in a statement. “These strategic investments will enhance our country’s domestic capabilities, create high-paying jobs and keep America at the forefront of the semiconductor industry.”

https://thelakewoodscoop.com/wp-content/uploads/2026/07/wa-1785414000142-zlaoc0.mp4

Wall Street’s largest prime brokers have begun demanding additional collateral from hedge fund clients whose books are heavily concentrated in artificial-intelligence stocks, converting a two-week selloff in semiconductors into a financing problem.

Goldman Sachs and JPMorgan Chase have issued additional collateral requests to certain hedge fund clients, according to people familiar with the matter cited in a Financial Times report; neither bank has commented publicly. Market participants stressed that many of the calls were triggered automatically by contractual risk provisions written into financing agreements rather than by discretionary decisions at the banks.

That distinction matters, and it is the part most likely to be misread. These are not judgment calls about whether the AI thesis holds. They are terms in a contract doing what the contract says they do when collateral values fall.

How exposed the lenders are

The reason this drew attention is that the banks are not standing outside the trade. Roughly 16% of Goldman’s prime brokerage book was directly exposed to AI memory stocks, and the firm noted that the buildup in hedge fund gross leverage over the first five months of 2026 was the largest cumulative increase on record since it began tracking the data in 2016.

Both numbers describe the same condition from opposite ends. Funds borrowed more than they ever have to buy a narrow set of names, and the institutions that lent them the money took on the same concentration by extension.

The price moves that set it off were not marginal. The Nasdaq 100 briefly fell 10% from its early June record, entering correction territory. SanDisk dropped 53% from its high and Intel 39%, while the Philadelphia Semiconductor Index shed more than a quarter of its value from the end of June. Long-short funds fell an average of 1.3% in a single session, with multi-strategy funds down 1.7%.

What it looked like when it broke

The clearest illustration arrived Thursday. Situational Awareness, a hedge fund running roughly four times leverage on AI infrastructure and semiconductor positions, sold its entire public equity portfolio to Ken Griffin’s Citadel after margin calls from its three prime brokers — Goldman Sachs, JPMorgan Chase and Bank of America. The fund, which manages about $24 billion, had posted a 439% return through the first half of 2026, according to an investor letter.

Four times leverage means a 25% decline in the underlying positions erases the equity supporting the borrowed money. The positions fell further than that. The arithmetic did the rest.

What this means for businesses outside the trade

Most operating companies have no hedge fund exposure and may read this as somebody else’s problem. It largely is — but two channels are worth watching.

The first is credit availability. When prime brokerage desks pull back on financing terms for one asset class, the risk committees reviewing those books tend to review everything else too. Firms that borrow against inventory, receivables or equipment through the same institutions may find underwriting slower and terms less generous over the next several quarters, even with clean books of their own. That is not a prediction of a credit crunch. It is the ordinary way institutional caution travels.

The second is index concentration, which affects any business with a 401(k) plan or a corporate cash portfolio in broad-market funds. The ten largest constituents of the S&P 500 now account for roughly 40% of the index, a higher concentration than during previous periods of market narrowness. A plan sponsor who believes the company retirement plan is diversified across five hundred names is, in practice, substantially exposed to about ten. That is a governance question for any CFO or plan fiduciary regardless of what happens next in semiconductors.

The rebound complicates the story

Anyone tempted to call this the start of something should account for what happened immediately afterward. The S&P 500 rose 1.7% and the Nasdaq 100 climbed 3.4% Thursday, with Microsoft surging 16% and adding roughly $450 billion in value — the largest single-day gain by any stock on record.

So the sequence within one week runs: correction, forced liquidation of a major fund, and then the strongest one-day recovery in the index in some time. That is not the shape of a collapse. It is the shape of a market repricing how much borrowed money belongs behind a single theme.

The useful question for anyone running a business is narrower than whether AI is overvalued. It is whether the AI buildout that customers, suppliers and lenders have all been planning around gets financed on the same terms next year. Thursday’s tape said the demand is intact. The margin calls said the leverage behind it is not going to be as cheap.

Both can be true, and for the moment both appear to be.

JBizNews Desk | Wall Street

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

Artificial intelligence is rapidly changing online fraud, making scams more convincing than ever and leaving many consumers unable to tell what’s real. New research released this summer found that 85% of people now say it’s difficult to distinguish an AI-generated scam from legitimate content, while half of adults report encountering some form of AI-powered fraud during the past year. 

Unlike traditional phishing emails filled with spelling mistakes, today’s AI scams use cloned voices, realistic videos, fake websites, and personalized messages that closely imitate family members, employers, banks, or trusted brands. Cybercriminals can now create convincing content in minutes, allowing them to target far more victims at a lower cost. 

Researchers also found AI can outperform humans at building trust during online conversations. In one recent study, an AI chatbot was more successful than people at persuading participants to take actions commonly used in investment scams, highlighting how generative AI is changing the fraud landscape. 

Financial scams remain among the fastest-growing threats. Criminals are using AI to impersonate company executives, family members, customer service representatives, and financial advisers through voice cloning and deepfake video calls. Some victims have transferred thousands—or even millions—of dollars believing they were communicating with someone they knew or trusted. 

Consumer protection experts recommend slowing down whenever money or personal information is involved. Unexpected requests to wire funds, purchase gift cards, share passwords, or verify financial accounts should always be confirmed through a separate, trusted communication method rather than replying directly to the message or call.

How to Protect Yourself

• Verify unexpected payment requests by calling the person or company directly using a trusted phone number.
• Create a family “safe word” to verify emergency calls or voice messages.
• Be skeptical of investment opportunities promoted through social media or messaging apps.
• Never rely solely on a video or voice recording as proof of someone’s identity.
• Enable multi-factor authentication on financial and email accounts.

What to Watch Next

Banks, technology companies, and regulators are investing heavily in tools that detect AI-generated fraud, but experts warn scammers are improving just as quickly. As AI becomes more accessible, consumers will increasingly need to verify identities rather than simply trust what they see or hear online. 

JBizNews Desk | New York

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