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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Reproduction or distribution without written permission is prohibited.

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

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

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.

President Donald Trump said Friday that Israel supports the newly announced Hamas disarmament agreement, describing it as a historic diplomatic achievement and expressing confidence that the proposal could reshape the future of the Middle East.

During a Cabinet meeting, Trump was asked whether the United States had secured commitments from Israel to move forward with the agreement. He responded, “We do have an understanding with Israel.”

Trump went on to portray Israel as fully supportive of the initiative, praising its cooperation throughout the negotiations. “Israel is very happy about it. Israel helped us, and they’ve been very good,” Trump stated, adding, “Most people said that would be a deal that would be undoable. Will it go through its ups and downs? It’s a very complex situation over there… But it’s a great breakthrough. Nobody’s ever thought that it would be be possible to disarm Hamas.”

Calling the development a milestone for the region, Trump said the agreement represents “a big step for the Middle East, and people are really impressed by it.”

When reporters asked who would ultimately take custody of Hamas’s weapons under the arrangement, Trump answered simply: “The Board of Peace.”

Despite Trump’s remarks, the Israeli government has not publicly endorsed the proposal. In fact, a senior Israeli diplomatic official said Thursday that Gaza was not discussed at all during this week’s meeting between Prime Minister Binyamin Netanyahu and Trump in Washington.

The official emphasized that Israel’s position remains unchanged, insisting that any political process must begin with Hamas’s complete military dismantling. “Israel is demanding the complete disarmament of Hamas, including the removal of all weapons from the Gaza Strip and the territory’s full demilitarization, as a precondition for any process. The reported 15-point document does not provide an adequate response to these demands, and Israel has conveyed its reservations on the matter to envoy Tony Blair.”

The official further made clear that Israel has no intention of altering its military posture until those conditions are fulfilled. “There will be no Israeli withdrawal from the Yellow Line in the Gaza Strip before Hamas is disarmed and the Strip is fully demilitarized.”

{Matzav.com}

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.”

Prime Minister Benjamin Netanyahu confronted Vice President JD Vance over his recent criticism of the Israeli government during a private meeting in Washington on Tuesday evening, according to Axios, citing Israeli and U.S. officials.

The two held what officials described as a “frank and candid” and “direct” conversation about their disagreements, including Vance’s criticism of Netanyahu and Israel’s standing among Republicans.

Tensions between the two had been building behind the scenes as Vance took on a larger role in U.S. policy toward the war and negotiations with Iran. Netanyahu was reportedly angered by Vance’s public accusations that he was encouraging opposition to a U.S.-Iran memorandum of understanding and had not shown sufficient loyalty to President Donald Trump.

Vance, meanwhile, reportedly believed Netanyahu was using associates and sympathetic media figures in Israel and the United States to attack him and undermine him politically.

A U.S. official said the meeting was not confrontational and described the discussion as cordial and productive. The two agreed to continue pursuing opportunities for cooperation between Israel and the United States in areas of shared interest.

The meeting followed months of friction. During a tense phone call in March, Vance challenged several of Netanyahu’s predictions about the war, including expectations that popular unrest could topple Iran’s regime. Vance later became one of the administration’s most vocal advocates for diplomacy aimed at preventing Iran from obtaining a nuclear weapon without drawing the United States into an open-ended military campaign.

(YWN World Headquarters – NYC)

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

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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

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

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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U.S. stocks opened sharply higher Friday as Amazon’s strong cloud results revived the artificial-intelligence trade and pushed the Nasdaq up more than 1% in early trading. The S&P 500 also advanced and the Dow moved higher, but the rally could not hold as Apple’s steep decline, rising Treasury yields and higher oil prices pulled all three major indexes into negative territory by late morning.

At the opening bell, the Nasdaq gained more than 200 points, the S&P 500 rose roughly 25 points and the Dow added about 27 points. Amazon’s post-earnings jump provided most of the early momentum, while gains in semiconductor and cloud stocks helped broaden the initial advance.

By approximately 11:00 a.m. ET, those gains had disappeared:

• Dow Jones Industrial Average: 52,135.81, down 72.25 points, or 0.14%
• S&P 500: 7,418.46, down 19.17 points, or 0.26%
• Nasdaq Composite: 25,084.00, down 38.18 points, or 0.15%

The reversal showed that even one of Amazon’s strongest trading days was not enough to offset pressure from Apple, interest rates and renewed inflation concerns.

Amazon’s 15% Gain Cannot Carry the Market

Amazon traded near $271, up roughly 15%, after Amazon Web Services posted its fastest growth in more than four years.

AWS revenue increased 37% to $42.2 billion, while Amazon’s overall quarterly revenue reached approximately $200.6 billion. Investors accepted the company’s decision to raise expected 2026 capital spending to about $220 billion because its cloud business is showing that infrastructure investment can generate faster sales and stronger operating income.

Amazon’s gain added hundreds of billions of dollars to its market value, but its index contribution was offset by Apple and a broader retreat in technology shares from their opening highs.

Microsoft was nearly unchanged after initially climbing, following Thursday’s historic rally. Several semiconductor stocks also surrendered early gains as Treasury yields moved higher and investors took profits after the previous session’s AI-driven rebound.

Apple Loses More Than $400 Billion in Value

Apple fell about 9.1% to $303, wiping out more than $400 billion in market value despite reporting stronger quarterly revenue and earnings.

Revenue rose to $109.4 billion, led by record June-quarter iPhone sales and strong Mac demand. Yet management warned that shortages of advanced processors and other components would significantly restrict production.

September-quarter revenue growth was projected at 9% to 11%, below the pace investors had expected. Services, iPad and Greater China revenue also fell short of forecasts.

The reaction shows how quickly the market’s priorities have shifted. Apple’s current sales were strong, but investors focused on whether supply constraints and a slower AI rollout will limit future growth while Amazon, Microsoft and other competitors continue expanding data-center capacity.

Morning Economic Reports Keep Rate Pressure Alive

Friday’s economic releases showed that labor expenses remain firm while regional business activity continues expanding.

The Employment Cost Index rose 0.9% during the second quarter, slightly above the 0.8% economists expected and matching the first quarter’s increase. Compensation costs were 3.4% higher than a year earlier.

Private-sector wage growth accelerated, particularly in construction and manufacturing. Inflation-adjusted wages, however, declined 0.3% from a year earlier, illustrating why household purchasing power can remain strained even when paycheck growth appears solid.

Separately, the Chicago Business Barometer increased to 57.6 in July from 56.7, exceeding the 56.0 consensus forecast. Readings above 50 indicate expanding activity.

Neither report signals an economy requiring immediate interest-rate relief. Labor costs remain elevated, regional activity is growing and inflation is still above the Federal Reserve’s 2% target even after June’s moderation.

That combination reinforced the central bank’s cautious position following Wednesday’s decision to leave its benchmark rate at 3.5% to 3.75%. Three policymakers dissented in favor of raising rates by a quarter percentage point.

Treasury Yields Accelerate the Reversal

The 10-year Treasury yield climbed to approximately 4.73%, its highest intraday level since January 2025, as investors absorbed the labor-cost report and more hawkish signals from Federal Reserve officials.

Higher yields reduce the relative appeal of expensive growth stocks and raise borrowing costs for mortgages, commercial real estate, corporate debt and business investment.

Friday’s bond selling was broader than Wednesday’s move. Short- and long-term yields rose together, indicating that investors were increasing expectations that rates could remain elevated or move higher rather than merely demanding additional compensation for long-term uncertainty.

Roblox and Coinbase Extend Their Declines

Roblox plunged approximately 28%, trading near $35 after disappointing investors with its outlook and continued spending requirements.

Coinbase fell about 13% to $142 following weaker revenue and a larger-than-expected loss. The decline also reflected pressure across cryptocurrency markets, with bitcoin trading near $64,000.

Chevron gained about 1%, while Exxon Mobil fell nearly 2% following their quarterly reports. Investors differentiated between the two oil producers even as higher crude prices improved the industry’s broader earnings outlook.

Oil Adds Another Inflation Risk

Crude prices resumed their advance as military and shipping risks kept global supplies under pressure.

Brent crude traded near $88.50 a barrel, while West Texas Intermediate rose roughly 2%. The latest increase followed a volatile week in which energy prices surged on renewed conflict involving Iran and threats to regional shipping routes.

Oil’s rise matters far beyond energy shares. Sustained increases feed into gasoline, aviation fuel, freight, plastics, manufacturing and food-distribution costs, threatening to reverse part of June’s improvement in headline inflation.

Gold remained near $4,100 an ounce as investors balanced geopolitical uncertainty against rising bond yields and a stronger dollar.

What to Watch This Afternoon

Amazon’s ability to retain its double-digit gain will show whether investors remain willing to finance extraordinary AI spending when cloud revenue is accelerating.

Apple remains the larger drag. Any further decline would deepen one of the biggest single-day market-value losses in U.S. corporate history and pressure indexes weighted heavily toward megacap technology.

Treasury yields are now the most immediate threat to the session. A sustained move above 4.73% on the 10-year note could accelerate selling in technology, housing, banks and other rate-sensitive industries.

Month-end portfolio adjustments may also create sharper afternoon swings. Friday closes both July and a week shaped by the Federal Reserve, surging oil prices and earnings from four of America’s largest technology companies.

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}

Shas has dropped to just seven Knesset seats in a new Maariv poll, marking the second consecutive survey showing the Sephardic chareidi party at its lowest level in years.

The poll, released Friday, shows Likud gaining two seats to reach 22 mandates following Prime Minister Binyamin Netanyahu’s Washington visit and meeting with President Donald Trump. Despite Likud’s gains, the coalition bloc remains stuck at 49 seats—well short of a governing majority.

According to the survey, Gadi Eisenkot’s Yashar party remains the largest faction with 23 seats, followed by Likud with 22. Beyachad receives 15 seats, Yisrael Beiteinu 10, the Democrats 9, United Torah Judaism 8, Otzma Yehudit 7, and Shas 7. Hadash-Ta’al and Ra’am each receive 5 seats, Religious Zionism 5, and a new “Zionist Home” party led by Chili Tropper and Yoaz Hendel crosses the electoral threshold with 4 seats.

While the coalition remains at 49 seats, the broader opposition bloc stands at 57 seats. However, if Tropper and Hendel’s party enters the Knesset, it could provide the anti-Netanyahu bloc with a parliamentary majority.

The poll also examined a scenario in which Benny Gantz, Ayelet Shaked, Yuli Edelstein, and Dadi Simchi run together on a new political list. In that case, the new party would receive four seats, while Tropper and Hendel’s party would fall below the electoral threshold. The coalition would gain one additional seat to reach 50, while the Zionist opposition would slip to 56 seats. The Arab parties would remain at 10 seats.

Asked who should lead the center-left bloc, 45% of opposition voters chose Eisenkot, compared to 25% for Naftali Bennett, 11% for Avigdor Liberman, and 10% for Yair Golan.

In head-to-head polling for prime minister, Bennett leads Netanyahu 44% to 39%, while Eisenkot holds a wider 48% to 38% advantage. Netanyahu, however, leads Liberman 43% to 39%.

(YWN World Headquarters – NYC)

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.

Moshe needs our help.

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Please help if you can. Every donation helps.

Please daven for Moshe ben Moria.

CLICK HERE TO DONATE.

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.

The State Department announced Thursday that it is significantly increasing public access to the commemorative U.S. passport featuring President Donald Trump, citing exceptionally strong demand for the special-edition travel document.

According to the department, an additional 250,000 copies of the “Patriot Passport” will be produced after public interest far exceeded expectations. Officials said the expansion comes “in response to overwhelming demand” from Americans eager to obtain the commemorative passport.

Until now, the special passport had only been available through the State Department’s passport office in Washington, D.C. Beginning immediately, however, Americans can schedule appointments by phone to obtain one at any of the department’s 24 additional passport offices nationwide.

The commemorative passport was first introduced in April as part of the nation’s preparations for its 250th anniversary. Among its distinctive features is a page displaying Trump’s inaugural portrait alongside the text of the Declaration of Independence. Another page showcases an artistic rendering of the Founding Fathers signing the historic document.

Several passport agencies—including those in Centennial, Colorado; Chicago; Dallas; Detroit; Minneapolis; New Orleans; and Stamford, Connecticut—will distribute the commemorative passport during special application events on Aug. 8. Additional passport offices are expected to begin offering it in the weeks that follow.

“Since its release in celebration of 250 years of American independence, the commemorative passport has generated extraordinary public interest,” the State Department noted in its Thursday release. “The Department of State is responding by expanding access so Americans across the country can obtain this unique and special document.”

Trump is the first sitting president ever to appear on an American passport. The document also features illustrations of Mount Rushmore, home to the carved likenesses of Presidents George Washington, Thomas Jefferson, Abraham Lincoln, and Theodore Roosevelt.

In addition to the new imagery, the passport contains quotations from several past presidents, including Washington, Jefferson, Lincoln, Roosevelt, Dwight Eisenhower, John F. Kennedy, and Lyndon B. Johnson.

The commemorative passport is the latest in a series of government initiatives over the past year and a half that have incorporated Trump’s name or likeness. Those efforts have included changes involving both the U.S. Institute for Peace and the Kennedy Center, although Trump’s name was removed from the Kennedy Center building in June following a federal court order.

Later this fall, the U.S. Mint is also expected to issue a special $1 gold coin bearing Trump’s portrait as part of the nation’s semiquincentennial celebration.

{Matzav.com}

UPS says its strategy of reducing its dependence on Amazon is beginning to pay off, with stronger profitability despite handling fewer overall packages. The company reported quarterly results showing that focusing on higher-margin shipments and business customers is helping offset the loss of lower-profit Amazon deliveries, marking a significant shift in one of the logistics industry’s biggest customer relationships.

For years, Amazon was UPS’s largest customer, accounting for a substantial share of its package volume. However, the rapid growth of Amazon’s own delivery network has steadily reduced that reliance. Rather than replacing every lost package, UPS has intentionally focused on attracting healthcare, small-business, international, and premium shipping customers that generate stronger returns.

Executives said the strategy is improving margins by prioritizing shipments that contribute more profit instead of simply increasing package volume. Healthcare logistics, time-sensitive deliveries, and business-to-business shipments have become key growth areas as UPS reshapes its network.

The shift reflects a broader trend across the logistics industry. Delivery companies are increasingly emphasizing profitability over market share as labor, transportation, and technology costs continue to rise. Investors have rewarded companies that demonstrate they can grow earnings without relying solely on higher shipping volumes.

For small businesses, the strategy could mean expanded logistics services tailored to commercial customers rather than competing primarily for mass e-commerce deliveries. Businesses shipping specialized products, medical supplies, or international orders may benefit from UPS’s increased focus on premium services.

Consumers are unlikely to notice major changes in everyday deliveries, but the transformation highlights how rapidly the delivery industry is evolving as Amazon builds more of its own transportation network and traditional carriers diversify their customer base.

What to Watch Next

Investors will watch whether UPS can continue replacing lower-margin e-commerce shipments with more profitable commercial business while maintaining service levels during the upcoming holiday shipping season. The results may also influence how competitors balance volume growth against profitability.

JBizNews Desk | Atlanta

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

The Bat Yam Small Claims Court ruled that left-wing activist Boaz Drori must pay NIS 5,000 in compensation to Shlomo Baruch Yarad, a minor and shepherd from the Ma’aleh Tadehar outpost in Gush Etzion, after finding that he had defamed him on the X social media platform, Arutz Sheva reported.

In October 2025, Drori shared a video showing Yarad leaning over a water well. According to the lawsuit, which was filed with the assistance of the Honenu legal aid organization, the video showed an attempt to rescue a young goat that had fallen into the water. But Drori’s post was accompanied by the caption: “Jewish settlers are contaminating Palestinian water wells in the occupied West Bank.”

During the hearing, Drori claimed that he shared the post to encourage public discussion about Israel’s image abroad and that he did not know the identity of the minor. He also claimed that the goat’s fall into the well had contaminated the water and that his description of the outcome was therefore accurate.

The judge rejected his arguments, ruling that there is a fundamental difference between accidental contamination caused during the rescue of an animal and accusing someone of deliberately poisoning wells as part of an “organized wave of attacks.”

In the ruling, the judge stated that the fact that the defendant did not know the minor’s name does not change the fact that he knew a specific individual appeared in the video and linked him to a serious offense, and that he should have taken into account that the person might be identified by family members and acquaintances.

Tom Nisani, an intern at the Honenu organization who assisted the family in filing the lawsuit, said: “Those who refuse to learn the easy way not to slander and spread libel and defamation against the courageous shepherds of Yehuda and Shomron will learn the hard way—they will learn, and they will also pay.”

(YWN Israel Desk—Jerusalem)

Elon Musk’s pro-Trump political group is planning to spend up to $120 million to turn out Republican voters in the November congressional elections, the New York Times reported on Thursday.

America PAC said in a statement to Reuters that it expects to play a major role in the Republican voter turnout effort and argued that the party is well positioned to retain control of Congress despite historical trends that often favor the opposition party in midterm elections.

“We’re excited to again be part of the team,” Andrew Romeo, the spokesperson for the America PAC, said in the statement.

He declined to provide further details, including how much America PAC plans to spend, but confirmed an earlier report from Axios that said the political action committee planned to make a “huge investment” in door knockers, digital advertising, and a direct-mail campaign to turn out conservative voters.

Effort set to be one of biggest outside spending campaigns of 2026 midterms

The effort would mark one of the biggest outside spending campaigns of the 2026 midterms and further cement Musk’s position as one of the Republican Party’s most influential financiers. The billionaire Tesla and SpaceX chief spent heavily to help elect President Donald Trump and other Republican candidates in 2024.

With Trump’s public approval ratings sagging and the electorate sour on the economy, Republicans face an enthusiasm gap with Democrats, who are seeking to win control of both chambers of Congress. Musk’s infusion of cash could provide a major boost to the Republican effort to galvanize voters.

The voting drive will run across at least eight states, the Times reported, citing two people briefed on the plans who spoke anonymously. Musk has authorized between $100 million and $120 million on the program, the newspaper reported.

America PAC has already spent $52.3 million since January 1, 2025, according to federal campaign finance filings reviewed by Reuters. The super PAC has raised $50.3 million so far in this election cycle, with roughly $50 million of that coming directly from Musk, the filings show.

So-called super PACs can accept an unlimited amount of money from individuals and corporations. They can also spend as much as they want, but they can’t coordinate directly with candidates or campaigns.

Musk, the richest person in the world, has personally donated more than $85 million toward the midterms, including the money he has donated to America PAC.

Musk’s rocket and satellite company SpaceX is a major government contractor with roughly 20% of its revenue coming from the U.S. government.

This post was originally published on here.

Israel’s Central Elections Committee is preparing contingency plans for the possibility of missile attacks on Election Day, including disruptions to both the voting and vote-counting processes.

According to an i24News report, High Court Justice Noam Sohlberg, chairman of the Central Elections Committee, is advancing a series of emergency regulations expected to be approved in the coming days.

The Central Elections Committee recognizes that the upcoming election could be held amid an ongoing military conflict and is therefore establishing clear emergency procedures to ensure both the continuity of the voting process and the integrity of the election under security threats.

Under the proposed regulations, if an air raid siren sounds while voting is underway, a camera will be activated at the polling station, and all ballots and voting envelopes will be collected and sealed in a designated emergency envelope. Members of the polling station committee will then take the election materials with them to a protected area, where they will safeguard them until voting can resume.

The committee members will also decide when it is safe to restart voting, if conditions allow. The regulations also address scenarios in which voting cannot resume for an extended period because of the security situation.

Preparations are also being made for the vote-counting process after polls close at 10:00 p.m. To enable a swift evacuation if a siren sounds during the count, ballots will be counted on a specially designed mat, allowing all sensitive election materials—including ballots, envelopes, and official documents—to be gathered within seconds and transferred to a protected area.

In addition, because of the large numbers of soldiers expected to remain deployed on the front lines, a special provision will allow them to identify themselves at polling stations using only their military identification tags.

(YWN Israel Desk—Jerusalem)

A NIS 130,000 lawsuit has been filed against Israel Police and two police officers for forcing 40 passengers off a bus at the Golani Junction after one passenger was caught smoking an electronic cigarette, leaving them stranded on the side of a highway in the middle of the night.

As YWN reported earlier this year, the Department of Internal Police Investigations (DIPI) refused to open an investigation into the officers involved in the incident.

The incident occurred on the night of October 19–20, 2025. Several dozen passengers, most of them Chareidi and religious, were traveling on Superbus Route 859 from Modi’in Illit to Tiveria. During the trip, one passenger began smoking an electronic cigarette. The driver stopped at a bus stop near Golani Junction and called the police.

After arriving at the scene, the officers spoke with the driver and then ordered all passengers to get off the bus, even though they were not involved in the incident. The passengers asked to continue their journey, but the officers ordered them to take their belongings and leave the bus.

One of the officers even threatened to arrest a passenger after he asked, “Are you normal?” The officer backed down only after the passenger apologized.

The officers then instructed the driver to continue the route with an empty bus, leaving dozens of passengers behind at the bus stop despite their protests. The passengers were forced to complete their journey by hitchhiking. Some of them were picked up by another bus driver who happened to pass by and stopped for them.

Attorney Chaim Bleicher of the Honenu legal aid organization said, “This was a serious incident involving the unjustified mistreatment of innocent passengers who simply wanted to reach their destination. They engaged in no violence whatsoever, yet found themselves abandoned on the side of the road in the middle of the night. We will not rest until those responsible are held fully accountable through both criminal and civil proceedings.”

(YWN Israel Desk—Jerusalem)

Retailers are increasingly relying on sophisticated pricing strategies designed to encourage shoppers to spend more, even when they believe they’re getting a bargain. Consumer advocates say many of these tactics are legal but can make it harder for shoppers to compare prices and recognize the true cost of everyday purchases.

One of the most common strategies is dynamic pricing, where online prices change throughout the day based on demand, inventory, or browsing behavior. Consumers may see different prices for the same product depending on when they shop or even which device they use.

Another growing tactic is shrinkflation—keeping the price the same while reducing the amount of product inside the package. From snacks to household goods, consumers may unknowingly pay more per ounce despite seeing a familiar price on the shelf.

Retailers are also expanding the use of personalized discounts through loyalty programs and mobile apps. While members may receive exclusive deals, shoppers who do not sign up often pay higher prices for identical items.

“Compare at” or reference pricing is another area drawing scrutiny. Products are sometimes advertised as being heavily discounted from a suggested retail price that consumers rarely, if ever, would have paid. Consumer protection experts recommend comparing prices across multiple retailers rather than relying solely on advertised savings.

Subscription discounts have also become more common. Many online retailers now offer lower prices only if customers enroll in recurring deliveries, making it easy to forget about future shipments and charges after the initial purchase.

Finally, checkout fees continue expanding beyond travel and ticketing. Delivery charges, service fees, handling costs, and convenience fees can significantly increase the final price after shoppers have already committed to a purchase.

How Consumers Can Save

• Compare unit prices, not just package prices.
• Check prices at multiple retailers before buying.
• Review automatic renewal settings for subscriptions.
• Watch the final checkout screen for added fees.
• Use price-tracking tools for major purchases instead of buying immediately.

As retailers compete for customers while protecting profit margins, pricing strategies are becoming increasingly sophisticated. Understanding how they work can help consumers make better purchasing decisions and avoid spending more than they intended.

JBizNews Desk | New York

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Mordechai Ben David, the King of Jewish Music, is in the midst of a historic four-city concert tour across Israel, drawing massive crowds and sharing the stage with many of the biggest names in Jewish music.

The opening concert, held Monday night at Jerusalem’s iconic Sultan’s Pool (Breichat HaSultan), made history as the first-ever frum men-only concert at the famed outdoor venue. The event was completely sold out, with a staggering crowd of approximately 6,500 people filling every available seat.

Fans were treated to an unforgettable evening as MBD was joined by the legendary Miami Boys Choir and singer Shmulik Sukkot. The biggest surprise of the night came when Yaakov Shwekey walked onto the stage after flying directly from the airport, stunning the audience with an unannounced appearance alongside MBD.

The tour continues with three additional major concerts across Israel:

August 4 – Netanya

August 7 – Beitar Illit

August 11 – Beit Shemesh

The concert series is being produced by Nuta Levine and Zevi Fried.

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(YWN World Headquarters – NYC)

Netflix has been sued for allegedly losing an unencrypted copy of a $45 million Nicolas Cage thriller that took seven years to produce, exposing the unreleased film to potential piracy and leaks.

The lawsuit, which seeks $105 million in damages, was filed by Op-Fortitude Ltd. and its owner, Swiss film producer and financier Simon Afram, who also accused Netflix of covering up the security breach.

The film, Fortitude, was based on the real-life World War II Operation Fortitude, a massive Allied deception campaign designed to convince Nazi Germany that the D-Day invasion would occur elsewhere. The operation had relied on a fake army, double agents and false radio traffic.

According to the lawsuit, the incident caused devastating financial losses by compromising the film’s first-to-market exclusivity and distribution value, forcing the plaintiffs to temporarily pause marketing and sales efforts ahead of awards season. 

The complaint says test screenings projected an 82% “top-two box” audience score, meaning 82% of viewers rated the film among the two highest categories, and conservatively estimated that the movie would generate at least $112.5 million in revenue — roughly 2.5 times its production budget. 

In a statement to FOX Business, Netflix denied wrongdoing, arguing the movie was delivered without industry-standard safeguards such as password protection or encryption. The company also accused the plaintiffs of making “hostile attempts to extort money from Netflix over this situation.” 

The dispute stems from a private screening Netflix reportedly requested between late 2025 and mid-2026. 

While the plaintiffs alleged Netflix requested an unlocked or unencrypted copy to streamline the screening process, Netflix disputed that claim, saying security safeguards are standard practice and that the filmmakers voluntarily chose to provide an unencrypted version.  

According to the lawsuit, the plaintiffs informed Netflix both verbally and in writing that the drive was unencrypted and instructed the company to delete the files from its projection system after the screening. 

After an unencrypted digital master drive was delivered to Netflix’s Hollywood studio on June 15, 2026, Netflix held the screening on June 16. The media giant then left the unencrypted file unattended on an office desk without basic physical or digital security controls, where it later disappeared, plaintiffs said. 

The lawsuit alleged Netflix concealed the breach by repeatedly postponing or ignoring requests from the plaintiffs to arrange pickup of the drive between June 17 and June 25. The plaintiffs said it was not until June 25 that a Netflix executive emailed them stating that “someone stole a good amount of drives from our office desks this past week.”   

Netflix has denied those allegations, saying it notified the appropriate parties as soon as its team became aware of the incident. 

The plaintiffs further accused Netflix of trying to downplay the incident by claiming the stolen drive required an encryption key to access the film, despite knowing the drive was unencrypted. The lawsuit also claims Netflix offered to reimburse only the cost of the physical drive and referred to the asset as “missing” rather than “stolen.” 

In a statement to FOX Business, Netflix said: “Netflix disputes any claim that it bears the risk of loss for a film delivered without the proper industry-standard safeguards,” the company said. “While we do not own the rights to Fortitude, we take content security seriously and have taken extra measures to support the filmmaker and his team. This includes conducting a thorough investigation and offering to monitor known piracy sites for any unauthorized distribution or sale.”

The plaintiffs also accused Netflix and its outside counsel of refusing to answer basic questions about the company’s internal investigation, including whether a police report had been filed, and declined to cooperate with the Los Angeles Police Department after the filmmakers filed their own report. 

In response, Netflix said it withheld details of its investigation because of what it described as the plaintiffs’ conduct, claiming they had initially demanded $165 million for the film rather than work with the company.

“We have declined to share anything about our ongoing investigation with the law firm representing Simon Afram, given their hostile attempts to extort money from Netflix over this situation — including immediately demanding $165 million for the film rather than work with us in good faith.”

The company added that its content security team is actively monitoring piracy websites for unauthorized copies of the film and said it has found no evidence that Fortitude has been leaked.

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Back-to-school shopping is becoming one of the biggest retail events of the year, with American families expected to spend a record $146.8 billion on school-related purchases in 2026. Yet behind the record spending is a different reality: shoppers are buying earlier, hunting aggressively for discounts, and spreading purchases over several months to manage tighter household budgets. 

According to the National Retail Federation, families with K-12 students are expected to spend an average of $863.86 per child this season, while college students will average $1,437.79, driven largely by the cost of electronics, dorm supplies, and textbooks. Those higher costs are pushing many parents to begin shopping in June and July instead of waiting until August. 

Major retailers including Walmart, Target, Amazon, Best Buy, Staples, and Costco have responded by launching back-to-school promotions weeks earlier than in previous years. Prime Day-style events have effectively become the unofficial kickoff to the shopping season, encouraging consumers to buy whenever discounts appear rather than waiting for traditional August sales. 

Families are also changing how they shop. Surveys show many parents plan to reuse supplies from last year, purchase fewer discretionary items, switch to store brands, or take advantage of buy-now-pay-later financing to keep budgets under control. In states offering sales-tax holidays, shoppers are timing purchases to maximize savings on clothing, school supplies, and electronics. 

For retailers, the shift means back-to-school is no longer a single shopping weekend but a months-long selling season. Companies that can maintain inventory, offer competitive pricing, and provide online shopping tools are expected to capture a larger share of consumer spending.

What to Watch Next

As August approaches, retailers are expected to roll out even deeper promotions to attract late shoppers. Analysts will also watch whether inflation and household budgets continue pushing consumers toward discount chains, store brands, and earlier purchasing patterns. 

JBizNews Desk | New York

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For years, Shein has dominated one corner of retail by answering a simple question better than almost anyone else: How quickly can a trend become a product? If reports that it is acquiring Everlane prove accurate, the company is now asking a far more difficult question: Can a business built on speed and low prices also become a brand consumers trust with premium products?

That’s why this deal matters.

Everlane was never the largest apparel company, nor the cheapest. It built its reputation by convincing shoppers that paying more meant understanding where a product came from, how it was made, and why it cost what it did. In an industry where discounts often drive sales, Everlane sold transparency as much as clothing.

Shein’s success came from almost the opposite direction. It mastered global sourcing, rapid design cycles, and direct-to-consumer logistics at a scale few retailers have matched. That formula transformed fast fashion, but it also made the company a frequent target of scrutiny over supply chains, sustainability, and product quality.

Put those two companies together and the acquisition becomes something larger than an apparel transaction. It becomes a test of whether operational excellence can purchase brand credibility—or whether credibility is one asset that has to be earned over time.

Retail history offers examples in both directions. Companies regularly buy factories, technology, and market share. Buying customer trust is far less predictable. Consumers often develop relationships with brands because of what they represent, not simply because of what they sell. Change that perception too quickly, and the value of the acquisition can begin to erode.

That is what makes this one worth watching. If Shein preserves what customers believe Everlane stands for while using its own global scale to expand the business, it will have shown that a fast-fashion giant can successfully move into higher-value retail without losing the qualities that made the acquired brand attractive in the first place.

If it cannot, the lesson will reach well beyond apparel. It will reinforce one of the oldest truths in business: acquiring a respected brand is a financial transaction; preserving the trust behind that brand is a leadership challenge.

JBizNews Desk | New York

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Costco has agreed to a proposed $14 million class-action settlement over allegations that it sent Washington state consumers promotional emails with misleading subject lines suggesting limited-time offers that were later extended. While Costco denies any wrongdoing, the company agreed to settle the case to avoid the cost and uncertainty of continued litigation. 

The lawsuit claims certain marketing emails created a false sense of urgency with subject lines such as “Today is the last day” or “Hot Buys available for 5 Days Only,” even though the promotions allegedly continued beyond those deadlines. Plaintiffs argued the practice violated Washington’s Commercial Electronic Mail Act and Consumer Protection Act. 

The settlement applies only to people who:

• Were Washington state residents between June 2, 2021, and July 7, 2026.
• Received qualifying promotional emails sent by or on behalf of Costco.
• Received those emails at an address contained in Costco’s records. Membership is not required to qualify. 

Eligible consumers must file a claim by August 24, 2026. The exact payment each person receives will depend on the number of valid claims submitted, although Washington law allows statutory damages of up to $500 per qualifying email under certain circumstances. A final court approval hearing is scheduled for October 2, 2026. 

For consumers, the case is a reminder that retailers’ “last chance” promotions may not always be as limited as they appear. Businesses across industries continue facing increased legal scrutiny over marketing practices that regulators believe create artificial urgency or mislead shoppers.

What to Watch Next

If the settlement receives final approval, it could encourage additional lawsuits targeting online marketing campaigns that rely on countdowns, limited-time offers, or scarcity tactics. Retailers may also become more cautious about how they advertise promotions to avoid similar legal challenges. 

JBizNews Desk | Issaquah, Washington

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Israeli Prime Minister Benjamin Netanyahu said he has considered the possibility that an in-flight emergency could force his aircraft to land in a country that recognizes the International Criminal Court’s arrest warrant against him, and indicated Israel has contingency plans involving its elite military forces.

The comments came during an interview with Sean Hannity on Fox News while Netanyahu was visiting Washington this week. Hannity asked whether Netanyahu worries that a medical emergency could force his aircraft to land in an ICC member state that might attempt to execute the warrant. Netanyahu acknowledged he has thought about the scenario, noted that he served in Israel’s special forces for five years, and, after Hannity remarked on the capabilities of Israeli commandos, replied with a smile: “Let’s give them a new task.”

No emergency landing occurred. The discussion was entirely based on Hannity’s hypothetical question, not an actual incident.

The exchange nevertheless highlights a growing challenge facing governments and international travel: how global arrest warrants can influence flight planning, diplomatic travel, and cross-border logistics long before any legal action is ever taken.

The International Criminal Court issued arrest warrants for Netanyahu and former Israeli Defense Minister Yoav Gallant in November 2024, alleging war crimes and crimes against humanity related to the conflict in Gaza. Israel rejects the court’s jurisdiction and has strongly denied the allegations.

Because more than 120 countries are parties to the Rome Statute, the treaty establishing the ICC, questions have emerged over where Israeli officials can safely travel and what would happen if an aircraft carrying a wanted official were forced to land unexpectedly in one of those jurisdictions.

While governments have generally avoided publicly detailing how they would handle such a situation, the uncertainty itself has become part of international travel planning.

Legal experts continue to debate whether obligations under the Rome Statute extend only after an aircraft lands or whether additional responsibilities arise during transit through a country’s airspace. Few governments have issued formal guidance, leaving airlines, diplomatic planners and security officials to evaluate legal risks alongside operational considerations.

Those uncertainties are increasingly affecting aviation and business planning.

Government aircraft transporting senior officials now face additional route analysis, including alternate airports, diplomatic clearances, emergency diversion planning, and political risk assessments. Executive aviation providers, insurers and security consultants are similarly incorporating geopolitical legal exposure into international travel decisions.

The issue extends beyond government leaders.

Corporate executives traveling to politically sensitive regions, multinational companies operating across jurisdictions, and insurers underwriting international aviation risk all face an environment where sanctions, international legal disputes and geopolitical tensions increasingly influence transportation decisions.

Netanyahu also criticized the International Criminal Court during the interview, arguing that actions against Israeli leaders could establish precedents affecting other democratic governments, including future American administrations and military personnel operating alongside allies overseas.

Whether any ICC member state would ultimately attempt to execute the warrant remains uncertain. The court has no police force of its own and relies entirely on member governments to enforce its decisions.

For businesses, however, the broader lesson is already emerging. International legal disputes are becoming another variable in global logistics, joining fuel costs, weather, security threats and geopolitical instability as factors shaping how people and assets move across borders.

JBizNews Desk | Jerusalem

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For years, the assumption behind sanctions was simple: isolate North Korea financially and eventually the economy would run out of options. Instead, the latest trade data suggests Pyongyang has found another path.

Trade between North Korea and China climbed to its highest level since 2017 during the first half of 2026, according to newly released Chinese customs data. Imports and exports accelerated even as one of the world’s toughest sanctions regimes remained in place, extending a recovery that has been quietly building over the past two years.

The numbers alone don’t explain what changed. Russia does.

Since Moscow’s invasion of Ukraine, North Korea has transformed from an isolated economy into a strategic supplier. Ammunition, missiles and military equipment have become valuable exports, generating hard currency that economists say has flowed back into factories, construction projects and industrial production. The war didn’t just create a customer. It created cash.

China became the second half of that equation.

Russian money may have restarted production, but China remains the marketplace. Border trade has accelerated, trucks once again move steadily through the Dandong crossing, and Chinese demand continues absorbing North Korean exports while supplying the food, machinery and industrial materials Pyongyang cannot easily produce itself. One relationship generates revenue. The other keeps the economy functioning.

That combination exposes an uncomfortable reality for Western policymakers. Sanctions haven’t disappeared, but their influence has weakened because North Korea’s two most important economic partners sit largely outside the Western financial system. When your biggest customers are willing to keep buying, isolation becomes much harder to enforce.

Business leaders should pay attention because this isn’t only a geopolitical story. It illustrates how global supply chains adapt under pressure. Trade rarely stops; it reroutes. Capital finds new partners. Manufacturing follows demand. The same pattern has played out with Russian energy exports, semiconductor restrictions and critical minerals. North Korea is simply another example of commerce finding an alternative route when traditional ones close.

None of this means North Korea has solved its economic problems. It remains heavily dependent on just two countries, its domestic economy is still fragile, and much of today’s growth is tied to extraordinary wartime demand rather than a diversified private sector. If military orders slow or China’s economy weakens, those gains could fade just as quickly as they appeared.

The broader lesson reaches well beyond Pyongyang. Economic pressure works best when major trading partners move together. When large economies pursue different strategic interests, sanctions become less about stopping trade and more about changing where that trade flows.

That’s why today’s trade figures matter. They’re not simply another economic statistic. They’re evidence that geopolitics is rewriting the rules of global commerce—and businesses that understand those shifts early are usually the ones that adapt first.

JBizNews Desk | Seoul

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San Francisco has filed a consumer protection lawsuit against Booking Holdings, Guest Reservations, and Book Online, accusing the companies of misleading travelers into believing they were booking directly with hotels while allegedly charging significantly higher prices and adding hidden markups. City Attorney David Chiu announced the lawsuit this week, calling the practice a widespread scheme that harms both consumers and local hotels. 

According to the complaint, consumers searching online for a specific hotel are often presented with websites designed to closely resemble the hotel’s official booking page. The city alleges many travelers unknowingly complete reservations through third-party sites, paying hundreds of dollars more than they would have by booking directly with the hotel. In one example cited in the lawsuit, a room listed by a hotel for $381 was allegedly sold through third-party sites for as much as $595, while also carrying stricter cancellation terms. 

Unlike traditional travel agencies that clearly identify themselves, the lawsuit claims these websites intentionally blur the distinction between the hotel and the intermediary. Officials argue the companies provide little additional value while collecting millions of dollars through markups and fees that many customers never realize they are paying until after completing their reservation. 

The city is asking the court to prohibit the alleged practices, order restitution for affected consumers, and impose civil penalties under California’s consumer protection laws. Booking Holdings, which owns Booking.com, is named alongside Guest Reservations and Book Online because the lawsuit alleges the companies play interconnected roles in the booking process. The defendants have not publicly responded to the new complaint. 

For consumers, the case serves as a reminder to verify that they are booking through a hotel’s official website before entering payment information. Third-party booking platforms can offer legitimate discounts, but consumer advocates recommend checking the hotel’s direct price and confirming cancellation policies before completing a reservation.

What to Watch Next

The lawsuit could influence how online travel companies display hotel listings and disclose fees. If San Francisco prevails, other cities and states may pursue similar actions against travel booking platforms over pricing transparency and consumer disclosure requirements. 

JBizNews Desk | San Francisco

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Rav Moshe Eisemann zt”l, a beloved mechanech whose remarkable life carried him from Nazi Germany to England, Switzerland, Moldova, and ultimately Eretz Yisroel, has passed away at the age of 98. A survivor of the famed Kindertransport rescue effort, he devoted decades to educating generations of talmidos and bringing countless Jews closer to Torah and mitzvos. He was laid to rest at Har Hamenuchos in Yerushalayim.

Rav Eisemann was born in Frankfurt am Main, Germany, to his father, Rav Shmuel Halevi Eisenman. Following Kristallnacht, he was sent alone to England as part of the Kindertransport, the rescue mission that brought thousands of Jewish children to safety before the Holocaust. His parents joined him in England sometime later.

Family members recalled that during the journey, when Queen Wilhelmina of the Netherlands provided kosher food for the refugee children, the young Moshe—only nine or ten years old at the time—refused to eat because he was uncertain whether the hechsher met his standards.

He later moved to Switzerland, where he became a distinguished mechanech, teaching for more than three decades and helping shape the lives of hundreds of talmidos. About 30 years ago, he settled in Kiryat Sefer, where he continued his lifelong dedication to Torah.

Even after the age of 70, Rav Eisemann accepted a mission in Kishinev, spending several months there despite living in an apartment without running water. He undertook the challenge solely to bring Jewish children and families closer to Torah and mitzvos.

About 20 years ago, he was widowed following the passing of his wife, Mrs. Chava Eisemann, a”h, née Cohen. His only sister, Mrs. Rosental, a”h, was closely associated with the Gateshead Seminary in England.

Those closest to him said his love of Torah never diminished, even during his final years. His son and sons-in-law recalled that whenever they visited him, even when illness made reading difficult, he would invariably begin by discussing a Torah question or sharing an insightful thought from the Ramban on the weekly parshah.

He is survived by his son, Rav Shmuel Eisemann of Bnei Brak; his daughters Mrs. Birnbaum, one of the founders and principal of Beis Chinuch in Kiryat Sefer, and Mrs. Schlass, also of Kiryat Sefer; as well as another daughter who lives in Antwerp.

His health declined in recent years, and about three weeks ago he was admitted to Mayanei Hayeshua Medical Center, where he remained until his passing at the age of 98.

Yehi zichro baruch.

{Matzav.com}

China’s manufacturing sector slipped back into contraction in July, with the country’s official Purchasing Managers’ Index (PMI) falling to 49.2 from 50.3 in June, according to the National Bureau of Statistics. The reading came in below economists’ expectations and dropped under the 50-point mark that separates expansion from contraction.

On the surface, it looks like another disappointing economic report. The bigger story is why factories slowed. New orders fell faster than production, signaling that demand—not the ability to manufacture goods—is becoming China’s biggest problem. When customers stop buying, factories don’t immediately shut down. They compete harder for every order, often by cutting prices.

That shift could ripple well beyond China. American retailers, wholesalers, and manufacturers that buy components or finished goods from Chinese suppliers may gain leverage heading into the holiday season as suppliers look to keep production lines running. Lower factory prices can eventually reduce import costs, although tariffs and shipping expenses will still influence what U.S. consumers ultimately pay.

Not everyone benefits. U.S. manufacturers competing against imported goods could face renewed pricing pressure if Chinese exporters begin discounting more aggressively. Companies producing furniture, consumer electronics, industrial equipment, and other price-sensitive products may find themselves competing against cheaper overseas alternatives.

The report also raises the stakes for Beijing. Chinese officials have tried to support the economy with targeted measures instead of launching another massive stimulus campaign. That approach worked while exports remained strong. If both domestic demand and overseas orders begin to soften at the same time, policymakers may have little choice but to introduce broader support for businesses, infrastructure, or consumer spending.

Investors should pay close attention to the next round of Chinese export, inflation, and industrial production data. One weak month doesn’t establish a trend, but if orders continue to decline while factories keep producing, the result is often lower prices, shrinking corporate profits, and growing pressure for government intervention.

For American businesses, the takeaway isn’t to assume China’s economy is collapsing. It’s to recognize that a weaker manufacturing sector can change supplier pricing, purchasing strategies, and competitive dynamics months before those effects show up in U.S. earnings reports or on store shelves.

JBizNews Desk | Beijing

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First Lady Melania Trump is leading a humanitarian effort aimed at reuniting Ukrainian and Russian children separated by the war with their families, with approximately 30 Ukrainian children safely returned since the initiative began last year, according to the White House.

The White House announced this week that five additional groups of children have now been reunited with their relatives. In the latest phase of the effort, five more children were safely returned to their families, bringing the total number of Ukrainian children reunited through the program to about 30.

The humanitarian initiative officially launched in October 2025 after President Donald Trump personally delivered a handwritten letter from Melania Trump to Russian President Vladimir Putin during their summit in Alaska in August 2025.

According to the White House, the First Lady and her representatives continue to work with both the Russian and Ukrainian governments to facilitate the safe return of additional children displaced by the war.

In a statement, the White House said, “The First Lady’s leadership bridged political divides in pursuit of one humanitarian mission — putting the well-being of children above the conflict and reuniting families torn apart by war.”

Speaking about the initiative in April, Melania Trump said, “This is not an easy mission. I commend the leadership of both nations for working alongside my representatives and me to restore love and security to everyone who has been displaced by this terrible war.” She added, “Together, we can change people’s lives for the better.”

According to United Nations figures, thousands of civilians—including many children—have been killed since Russia launched its invasion of Ukraine in February 2022, with the past year proving to be the deadliest since the war began.

{Matzav.com}

The release of more than 1,000 pages of Dr. Anthony Fauci’s private COVID-era diary has sparked a storm of political debate and renewed scrutiny of the government’s pandemic response. Beyond the diary’s contents, one question has captured widespread attention: How did the federal government get hold of what many assumed was a personal journal?

The answer is more complicated than many expected.

It Wasn’t Seized From Fauci

Despite speculation on social media, there is no indication that federal agents confiscated a handwritten notebook from Fauci’s home or office.

Instead, Health and Human Services Secretary Robert F. Kennedy Jr. said the diary was recovered from government computer systems during an internal records search. According to Kennedy, HHS investigators located the files after searching multiple federal servers.

Kennedy told Fox News that his department spent roughly eight months searching before locating the material.

“It took us about eight months to dig these out of 11 separate servers,” Kennedy said.

After the files were recovered, HHS provided them to the Senate Homeland Security and Governmental Affairs Committee, chaired by Sen. Rand Paul, which had subpoenaed Fauci as part of its investigation into the origins of COVID-19.

Why Was Fauci Keeping a Diary?

The diary appears to have been a running journal that Fauci maintained throughout the pandemic while serving as Director of the National Institute of Allergy and Infectious Diseases (NIAID).

The entries begin in December 2019, shortly before COVID-19 exploded into a worldwide crisis, and continue through December 2022, when Fauci retired from federal service after nearly four decades leading NIAID.

Rather than resembling a personal memoir, the journal reads more like an executive daily log.

Many entries begin with a chronological account of Fauci’s schedule—meetings, conference calls, media interviews, conversations with world leaders, White House briefings and scientific discussions. They often conclude with his personal reflections about the events of the day.

The diary documents:

• White House meetings with President Donald Trump.
• Internal debates over the origins of COVID-19.
• Scientific discussions about vaccines and treatments.
• Conversations with foreign officials.
• Television appearances.
• Encounters with celebrities.
• Personal reactions to his sudden fame.
• His frustrations with political leaders and the media.

Why Was It on Government Servers?

That remains one of the biggest unanswered questions.

Neither HHS nor Sen. Paul’s office has publicly explained exactly where the diary was stored or why it existed on government computer systems.

Several possibilities have been suggested.

The journal may have been written using Fauci’s government-issued computer or government email account while he was performing official duties.

It is also possible the files were automatically backed up onto NIH or HHS servers under federal records-retention policies.

Another possibility is that the diary was stored on network drives used by senior federal officials.

At this point, however, none of these possibilities has been officially confirmed.

The only public statement is Kennedy’s assertion that the files were recovered from “government computers” after searching 11 different servers.

Was the Diary a Government Record?

That question has not yet been definitively answered.

Federal employees routinely create records that become government property if they document official business.

Purely personal journals generally remain private.

Fauci’s diary appears to blur those lines.

Much of it consists of descriptions of official government meetings, policy discussions, scientific briefings and conversations conducted in his capacity as a federal official.

Whether the entire diary qualifies as a federal record—or only portions of it—has not been publicly addressed by HHS or the National Archives.

How Was It Found?

The recovery appears to stem from a broader congressional investigation.

Sen. Rand Paul has spent years investigating the government’s handling of COVID-19 and the virus’s origins. As chairman of the Senate Homeland Security and Governmental Affairs Committee, he subpoenaed numerous federal agencies seeking records connected to the pandemic.

According to Kennedy, HHS personnel conducted an extensive search that ultimately uncovered Fauci’s diary on government systems and then transmitted the material to Paul’s committee.

Neither HHS nor Paul’s office has publicly disclosed:

• which specific servers contained the diary;
• what search methods were used;
• whether the files had been archived;
• whether Fauci knew they remained on government systems;
• or whether additional unpublished diary entries still exist.

CBS News reported that Paul’s office declined to explain precisely how the committee obtained the records.

Why Didn’t Anyone Know About It?

Before its release, Fauci had never publicly discussed keeping an extensive day-by-day diary during the pandemic.

The existence of more than 1,000 pages of contemporaneous notes surprised both supporters and critics.

Some of the diary’s material had already appeared, in summarized form, in Fauci’s 2024 memoir and in public interviews. However, the newly released journal provides a far more detailed chronological account of his daily activities and private thoughts during one of the most consequential public health crises in modern history.

Why Is the Diary So Significant?