President Donald Trump said Saturday he has suspended planned U.S. military strikes against Iran after what he described as substantial progress toward an agreement that would reopen the Strait of Hormuz and restart negotiations over Tehran’s nuclear program. Writing on social media, Trump said the emerging framework would deliver the immediate and complete opening of the strait along with an end to Iran’s nuclear threat, and that he had agreed to cancel the attack subject to reaching a deal rapidly.

For companies that move oil, containers or insurance paper through the Gulf, the operative number is 60. Israel’s Channel 12 reported that mediators are working to restore the memorandum of understanding Washington and Tehran signed last month. According to the report, the proposal would keep Hormuz open to international shipping for 60 days without transit fees while renewing the ceasefire. That is a two-month planning window, not a permanent settlement — and the last several did not survive their own terms.

The reason the previous memorandum collapsed is the same reason this one may. The earlier agreement unraveled over conflicting interpretations of who controls the waterway: Trump maintained it guaranteed unrestricted passage, while Iranian officials viewed it as preserving Tehran’s authority over commercial shipping routes. Nothing in the reported framework appears to resolve that dispute. Instead, it postpones it for another 60 days.

Tehran spent Sunday underscoring the divide. Foreign Ministry spokesman Esmail Baghaei told Iranian state television the strait would “in no way” return to the status it held before February 28, when the conflict began. He said Iran is discussing maritime traffic with Oman but that no negotiations are underway on a full reopening. Iran’s defense minister separately said the country remains prepared to respond to any military action despite Trump’s remarks.

According to Channel 12 and regional officials involved in the mediation, the proposal extends beyond shipping. It would return Washington and Tehran to direct nuclear negotiations, reopen Hormuz, halt attacks across the region — including strikes by Iranian-backed militias in Iraq against Gulf states and Jordan — while the United States would lift its naval blockade and allow Iranian oil exports to resume. The officials, speaking anonymously because they were not authorized to discuss the negotiations publicly, stressed that no final agreement has been reached.

That final provision is likely to move markets first. A reopening of Hormuz combined with Iranian crude returning to global markets would significantly increase available supply after months of disruption. U.S. crude climbed as high as $117.63 a barrel during the standoff before easing toward $112, roughly 40% above pre-conflict levels. Oil briefly fell below $70 in mid-July when traders believed the war had ended, only to reverse higher as fighting resumed.

American consumers have experienced the same swings. National average gasoline prices reached about $4.14 per gallon during the crisis, while diesel climbed to $5.64, approaching the record $5.82 set in 2022. Diesel costs ultimately filter into freight rates, food prices and construction costs across the economy.

Transit fees remain another unresolved issue. Iran agreed under the June 17 interim understanding not to impose tolls for 60 days. Trump later announced a proposed 20% charge on cargo moving through the strait after declaring the United States its guardian, but withdrew the idea following strong opposition from the shipping industry. The International Maritime Organization has maintained that mandatory transit tolls through the strait are not permitted under international law, and major carriers have indicated they would reject protection fees imposed by either side.

Regional governments are treating the diplomatic pause cautiously. Saudi Crown Prince Mohammed bin Salman spoke with Trump before Saturday’s announcement and expressed concern about further escalation, according to the Saudi Press Agency. A person familiar with the conversation said Saudi leaders remain concerned that Iran could retaliate against critical Gulf energy infrastructure. Trump also said Israel had agreed to support the proposed ceasefire, though Israeli officials have not publicly commented.

Trump has announced several pauses since military operations against Iran began on February 28, and previous ceasefire attempts have repeatedly collapsed. Reports also continue to point to divisions inside Iran’s leadership between hardliners opposed to negotiations and officials who believe sustained military pressure strengthens Tehran’s bargaining position.

For shipping companies, refiners and insurers, the practical calculation remains unchanged. Even if a 60-day toll-free window is finalized, it provides a temporary opportunity to move cargo rather than a lasting solution. Charter contracts, insurance premiums and energy hedges extending beyond early October will still need to account for the unresolved dispute over who ultimately controls one of the world’s most strategically important waterways.

JBizNews Desk | New York

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The Yerushalayim District Court has temporarily halted the government’s controversial plan to place Nile crocodiles around Ketzi’ot Prison as an added security measure for imprisoned Hamas terrorists, putting the initiative on hold while legal challenges move forward.

In a decision issued Sunday, the Yerushalayim District Court froze the state’s proposal to transfer crocodiles to Ketzi’ot Prison, suspending a plan championed by National Security Minister Itamar Ben-Gvir and Environmental Protection Minister Idit Silman.

The ruling came shortly after the animal rights organization Let Animals Live filed an administrative petition together with an emergency request seeking to stop the project. Judge Avraham Rubin ordered that, until further notice, the state may neither relocate the crocodiles nor make preparations for their transfer. The temporary order will remain in place until the court considers whether to issue a longer-term injunction after receiving the state’s response, which is due by Aug. 16.

Ben-Gvir blasted the court’s decision, declaring, “Once again, during wartime, the judicial system sides with the terrorists and blocks important steps for Israeli deterrence. We know the terrorists are trembling at the arrival of the crocodiles, but the court today came to their aid. Cleaning up the corrupt judicial system is the most critical task immediately after the elections, and we will not compromise on this.”

The unusual proposal first became public several weeks ago after construction crews began building a network of water channels at Ketzi’ot Prison intended to house the reptiles. At the time, the National Security Ministry authorized the work, with Ben-Gvir’s office explaining the rationale behind the project by stating, “Those who massacred, raped, murdered, and behaved like an animal should have his own kind watch over him.”

Officials in the region said the channels are being constructed inside the prison complex around one of its maximum-security wings and will extend roughly 170 meters. The project advanced after Silman signed an order designating the Nile crocodile as a “domesticated wild animal,” a classification requested by Ben-Gvir that would allow security agencies, including the Israel Prison Service, to launch the pilot program.

Under the government’s plan, the crocodile-filled waterways would serve as an additional security barrier surrounding prison wings that house security prisoners. Supporters of the proposal argued that the reptiles could provide another layer of protection around the facility while discouraging any attempts to escape.

{Matzav.com}

Antisemitic conspiracy theories falsely blaming Israel and the Jewish people for the massive migrant surge into Spain’s North African enclave of Ceuta reached an estimated audience of more than 100 million people on X within just 72 hours, according to a new report by the Combat Antisemitism Movement.

An analysis by CAM’s Antisemitism Research Center identified 173 posts from 119 influencer accounts that portrayed the border crisis as a Jewish plot. The posts generated 57.5 million views, an estimated reach of 103.1 million people, 1.9 million likes and more than 368,000 shares.

Between 50,000 and 60,000 migrants crossed into Ceuta on July 30, prompting Spain to declare a state of emergency. Despite the publicly documented causes surrounding the crisis, false claims rapidly spread online alleging that Israel, the Mossad or Jewish figures had orchestrated the migrant influx.

CAM said the conspiracy theories were promoted by far-right, far-left and Islamist accounts. Some revived longstanding claims that Jewish elites are engineering demographic change in Europe, while others falsely alleged that Prime Minister Benjamin Netanyahu had threatened Spain or that Israel had admitted involvement in the crisis.

The report cited several highly viewed posts, including one depicting Netanyahu with migrants emerging from his mouth onto a Spanish beach, as well as claims by prominent social media figures that the crisis had been engineered by Israel, the United States and Morocco.

CAM CEO Sacha Roytman Dratwa said a humanitarian emergency had been transformed into a worldwide antisemitic campaign in less than three days, accusing X’s recommendation systems of rewarding inflammatory conspiracy theories.

CAM called on X to introduce safeguards against established antisemitic tropes during humanitarian emergencies, remove advertising and verification benefits from accounts spreading such content, and expand the use of expert Community Notes.

(YWN World Headquarters – NYC)

The strong winds apparently made it very difficult for the boater to continue back to the dock.

Amazon disclosed this week that it collected roughly $600 million in tariff refunds during the second quarter and will return part of that money directly to customers, the first major American retailer to put a number on what the Supreme Court’s tariff ruling is worth to its bottom line.

Chief Financial Officer Brian Olsavsky made the disclosure on the company’s quarterly earnings call. Before Thursday, Amazon had said nothing about whether it would pursue refunds at all.

Olsavsky said Amazon will contact affected shoppers and process refunds automatically wherever the company can establish a direct link between a specific import charge and what a customer paid. Beyond those traceable cases, he said the company will use the money the way other large retailers do — to keep investing in low prices.

Why the number isn’t bigger

Olsavsky attributed the relatively modest total to two things: Amazon moved early to build inventory ahead of the tariffs, and it does not hold importer-of-record status for the vast majority of products in its store. The company pulled orders forward and pre-positioned goods ahead of the levies specifically to blunt the impact.

That second point matters more than the first. Outside sellers account for more than 60% of goods sold on Amazon’s marketplace, and many of those third-party merchants importing from overseas raised prices under the tariffs and have filed their own refund claims. The money owed to those sellers sits outside Amazon’s $600 million entirely.

Olsavsky said that where Amazon did see costs rise from tariffs, it largely absorbed them rather than passing them to customers — which is also the reason the traceable refund pool is narrow. A cost the company ate is not a cost it can now credit back to a specific shopper.

The legal backdrop

The federal government began refunding billions of dollars in import taxes earlier this year after the Supreme Court found that a broad swath of the tariffs imposed on companies importing goods were illegal. Most refunds were issued in May and June, and the cash is now surfacing in corporate earnings reports. The 6-3 decision came in February and held that the administration lacked legal justification for the levies. The ruling concerned tariffs imposed under the International Emergency Economic Powers Act.

Amazon reported $27.5 billion in operating income for the quarter, and said the tariff refunds meaningfully reduced expenses. Against that figure, $600 million is a rounding error. As a signal to every other importer in the country, it is not.

What it means for other companies

Amazon is the first name of its size to disclose a specific recovery figure, and its willingness to do so establishes a marker. Retailers, manufacturers, and any business that paid substantial import duties under the struck-down tariffs now have a public benchmark for what a claim can be worth and a reason to examine their own exposure.

The refund process is not automatic and not every company will qualify. But the sequence Amazon just demonstrated — file, collect, disclose, and partially pass through — is one that corporate finance departments across the country will be reading closely.

There is also a political dimension Amazon appears to be managing carefully. The company drew White House scrutiny last year over reports it planned to display tariff-related surcharges on its site. Announcing refunds to customers rather than surcharges on customers is the same underlying transaction told from the opposite end.

For shoppers, the practical takeaway is narrow. There is no universal payout and no across-the-board discount. Refunds will reach customers only where Amazon can trace a specific import charge to a specific purchase — and for the large majority of marketplace transactions, that trail runs through a third-party seller, not through Amazon at all.

JBizNews Desk | New York

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The IDF will require soldiers from the Givati Brigade’s Tzabar Battalion to participate in a combat processing program following last week’s mass walkout from the Sde Teiman military base, as commanders seek to ease tensions within the unit.

The decision was made by Brig. Gen. Sagiv Cohen, commander of the IDF’s 162nd Division, after hundreds of Givati soldiers left the base during a dispute with senior commanders.

The program will include discussions with organizational consultants and mental health officers, giving soldiers an opportunity to process their combat experiences. The IDF also plans to identify troops who may require additional individual support or treatment.

According to soldiers in the battalion, tensions remain high after the IDF imposed disciplinary measures on those involved in the incident, including removing some soldiers from combat duty and revoking their combat service certificates, which provide veterans with various post-service benefits.

The walkout reportedly began after senior commanders ordered the removal and destruction of unit insignias displayed by the battalion’s companies. Soldiers said the move sparked a confrontation with commanders, culminating in hundreds of troops leaving the base.

The IDF sentenced 14 soldiers identified as the organizers of the walkout to 30 days in military prison and removed them from combat service. Two additional soldiers are expected to face disciplinary proceedings, while another has yet to report. More than 80 other soldiers who left the base but later returned received lighter disciplinary measures.

It remains unclear whether the battalion’s soldiers will be allowed to return home before beginning the combat processing program.

(YWN World Headquarters – NYC)

German airline Condor launched daily service between Frankfurt and Tel Aviv over the weekend, marking its return to Israel seven decades after one of its aircraft first landed in the country.

The airline’s first scheduled flight landed at Ben Gurion Airport on Saturday evening as Israel works to restore regular international air travel following prolonged disruptions. The inaugural flight was fully booked, and Condor will now operate one flight daily in each direction.

About 80% of the passengers aboard the first flight were scheduled to continue from Frankfurt to destinations in North America and East Asia. The airline said the route will provide Israeli travelers with additional connections through Frankfurt as the number of nonstop flights from Israel remains limited.

Condor last operated in Israel 70 years ago, when it flew Christian pilgrims to Ben Gurion Airport, but it did not establish a permanent route at the time.

Meanwhile, Air Haifa announced a new twice-weekly route between Haifa and Thessaloniki beginning October 25, with one-way fares starting at 69 euros. The airline said it carried approximately 58,000 passengers in July, twice the number recorded during the same month last year and its highest monthly total since beginning operations.

Ethiopian Airlines also said it will add five weekly flights between Tel Aviv and Addis Ababa through the end of August, increasing the route from 21 to 26 flights per week. The expanded schedule strengthens Addis Ababa’s role as a connecting hub for Israeli passengers traveling to Africa, Asia and other destinations.

TAP Air Portugal, however, has again postponed its return to Israel. The airline had planned to restore its Tel Aviv-Lisbon route in August but has extended the suspension until September 15. Its reservation system now lists flights beginning in mid-September.

(YWN World Headquarters – NYC)

A federal judge has refused to temporarily block the Trump administration’s new Medicaid work requirement regulations, allowing implementation to continue while a lawsuit brought by 25 states and Washington, D.C., moves forward. The ruling keeps the administration’s timeline intact even as the court considers the broader legal challenge. 

The states argue the Centers for Medicare & Medicaid Services (CMS) issued regulations that go beyond what Congress authorized and that the January implementation deadline will force costly, complex changes to state Medicaid systems. They sought a preliminary injunction to delay the rules while the case is litigated. 

U.S. District Judge Richard Stearns denied that request, concluding the states had not demonstrated the “irreparable harm” required for emergency relief. He also noted that the January deadline was established by Congress rather than by CMS, weakening the argument that the agency alone created the time pressure. Importantly, the ruling was issued without prejudice, meaning the states may renew their request later if circumstances change, and the lawsuit itself will continue. 

The regulations stem from the administration’s implementation of Medicaid work requirements enacted under recent federal legislation. Many adults enrolled through Medicaid expansion will be required to work, attend school, volunteer, or participate in qualifying activities for at least 80 hours each month unless they qualify for an exemption. 

For businesses, the decision matters well beyond healthcare. Hospitals, insurers, managed-care companies, technology vendors, and state contractors are continuing preparations for implementation instead of waiting for the courts. States must also proceed with expensive system upgrades, eligibility verification, and administrative planning while the litigation remains unresolved. 

The case now shifts from the emergency phase to a full review of the legal merits. Although the work requirement regulations remain in effect for now, the court has left open the possibility of revisiting the issue before the January implementation deadline if later proceedings warrant it. 

JBizNews Desk | Washington

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TRENTON, N.J. — A long-running federal lawsuit between Bais Brucha and the Township of Toms River took a significant turn during a July 1 court hearing, as a federal judge ordered top township officials—including Mayor Daniel Rodrick—to surrender their government-issued electronic devices as part of the discovery process.

The litigation, which centers on Bais Brucha’s efforts to construct a legally permitted shul in Toms River, has been mired in discovery disputes for more than two years. According to Bais Brucha, the discovery phase has stretched for 26 months, delaying progress in the case and prompting increased scrutiny from the court.

The hearing, held in federal court in Trenton before Judge Zahid N. Quraishi and Magistrate Judge Tonianne J. Bongiovanni Quinn, focused largely on the prolonged delays in discovery and the Township’s compliance with court-ordered obligations.

During the proceeding, the judges directed the Township’s legal counsel to immediately notify Mayor Rodrick and other senior township officials that they were required to turn over their government-issued electronic devices for forensic discovery. The devices are expected to be examined as part of the ongoing litigation.

According to Bais Brucha, however, Mayor Rodrick has not complied with the court’s directive and has yet to produce the requested devices.

Representatives of Bais Brucha say they are now evaluating their legal options in light of what they characterize as the Mayor’s failure to comply with the federal court’s order. They contend that the Township has repeatedly resisted discovery throughout the course of the litigation, contributing to the lengthy delays that have stalled the case.

The dispute over the electronic devices could become a pivotal issue in the lawsuit, with the court expected to determine what consequences, if any, should follow if the discovery order is not obeyed.

The underlying lawsuit concerns Bais Brucha’s efforts to move forward with the construction of a shul, a project the organization maintains fully complies with applicable law. The outcome of the discovery battle is expected to play a significant role in determining how quickly the broader case proceeds toward resolution.

By BoroPark24 Staff

Following months of providing grocery benefits several times a week to numerous Boro Park families through the Tri-State SCN program, signs are emerging of a possible slowdown - or even a temporary pause.

Just two weeks ago, many upstate stores were forced to stop accepting certain SCN providers with little advance notice. While service has since resumed by some providers and locations, many providers remain unavailable.

Now, similar signs are appearing in Brooklyn, where several local stores have begun posting notices that some SCN providers are no longer being accepted, adding to the growing uncertainty.

Rumors continue to circulate from all sides, but the full picture remains unclear as the situation is still unfolding. Residents are encouraged to check their benefit balances and verify the status of their provider before heading to the store with a full shopping cart, as many families continue to rely on the program to help manage the rising cost of living.

An Iranian state-linked media outlet has offered a rare explanation for why no audio recordings of Iran’s new Supreme Leader have been released, arguing that modern intelligence agencies can extract extensive information from even a short voice recording.

According to Hamshahri, a newspaper affiliated with the Tehran municipality, every audio file contains hidden layers of data that can reveal the speaker’s physical characteristics, geographic location, recording time, equipment used, and even aspects of the speaker’s biological condition.

The report outlined five key methods intelligence agencies could allegedly use to analyze recordings. These include studying a room’s unique acoustic signature to estimate its size and construction materials, examining electrical grid frequency fluctuations to determine where and when the recording was made, identifying the recording device through its unique audio fingerprint, and analyzing background noises such as ventilation systems, traffic, aircraft, insects, or birds to narrow down the location.

The article also highlighted what it described as “acoustic biometrics,” claiming that voice resonance, breathing patterns, speech pauses, and other vocal characteristics could reveal a speaker’s physical features, stress level, heart rate, and overall condition. It further asserted that voice-altering software can often be reversed by advanced analysis.

The report suggests Iranian officials are concerned that even carefully edited audio messages could provide foreign intelligence agencies with valuable information about the Supreme Leader’s location, health, or security arrangements.

(YWN World Headquarters – NYC)

Spain’s Interior Ministry says roughly 50,000 to 60,000 migrants crossed from Morocco into the Spanish enclave of Ceuta over approximately 24 hours beginning Thursday, July 30 — the largest single-day surge of irregular arrivals ever recorded on European Union territory. Sixty-seven people died, many drowning as crowds moved across by land and sea and overwhelmed border guards.

The trigger was legal rather than diplomatic. The surge followed a Spanish Supreme Court ruling that migrants intercepted at sea while attempting to reach Ceuta or Melilla cannot be sent back to Morocco — a decision that circulated across social media faster than any government could respond to it.

What happened next is the part worth watching. Spain, which has spent much of the Gaza war as one of Israel’s sharpest critics in Europe, responded to its own border emergency with speed and force. Spanish army soldiers blocked access to the beach where migrants were coming ashore. Police and military reinforcements were deployed within hours. By Friday evening the government reported that more than 48,000 people had already returned to Morocco. Nearly the entire influx was reversed inside a single news cycle.

Madrid has recognized a Palestinian state, suspended parts of its defense cooperation with Jerusalem, and repeatedly argued that Israel’s security measures are disproportionate. Confronted with a mass breach of its own frontier, Spain deployed the army to the shoreline and cleared the enclave in roughly a day.

The circumstances are not equivalent, and no serious argument says otherwise. A humanitarian surge driven by economic desperation is not a terrorist assault, and the 67 people who died at Ceuta were victims, not combatants. But the underlying principle is the one Israel has argued since October 7: that a government’s first obligation is control of its own border, and that the cost of losing it lands on the economy within days.

The commercial fallout proved the point immediately. Italy imposed air and sea border checks on travel from Spain, temporarily suspending Spain’s Schengen free-movement rights for the month of August. France ordered additional checks along its shared border. Finland began preparing controls on its own Schengen borders. Italian Prime Minister Giorgia Meloni said the measure would remain only as long as necessary, with attention to limiting the impact on summer tourist flows.

August is peak season on the Iberian Peninsula. Every airline seat, hotel night, ferry crossing, and freight manifest now carries friction that did not exist a week ago. Carriers rebuild schedules around checkpoints. Tour operators absorb cancellations they cannot recover in the same calendar year. Insurers reprice. None of it required a single migrant to reach mainland Europe. It required only the perception that the border had stopped being predictable.

Spain’s own reaction to that treatment is instructive. Prime Minister Pedro Sánchez condemned what he called a selfish, polarizing, and unlawful response from fellow member states, while the prime ministers of 22 of the EU’s 27 members signed a joint letter demanding an emergency summit. The European Commission rejected Italy’s call to suspend Spain from Schengen, with Ursula von der Leyen noting that not a single person reached mainland Spain. A government accustomed to lecturing others on border conduct found itself demanding the benefit of the doubt it has not always extended.

For business readers, the takeaway is not the diplomacy. It is the mechanism. Markets function on confidence. Manufacturers rely on dependable transportation. Airlines, ports, retailers, insurers, and logistics firms all depend on governments maintaining secure and predictable frontiers. When that confidence breaks, the cost arrives as delays, canceled bookings, higher premiums, and repriced risk — while governments simultaneously absorb emergency policing, military deployment, healthcare, housing, and transport costs.

The pressure also concentrates wherever a gap opens. Irregular arrivals across Spain as a whole fell in the first half of 2026, from 17,990 to 12,138 year over year, while land arrivals into Ceuta rose 164 percent. A single narrow opening drew the entire flow.

Border security is no longer only a national security question. It is a business question, and Ceuta demonstrated that the countries most vocal about how others manage their borders operate by the same rules the moment their own are tested. As governments reassess migration, security, and economic resilience, the nations best positioned to attract capital will be those that can demonstrate both humanitarian responsibility and genuine control of what crosses their frontiers.

JBizNews Desk | New York

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The family of 16-year-old lifeguard Ryder Williams says they are working with the White House to arrange a visit after President Donald Trump announced that he intends to personally honor the California teenager for his courageous rescue of a 10-year-old boy caught in dangerous surf.

According to Ryder’s father, retired firefighter Shane Williams, members of the president’s staff have already reached out, although no official schedule has yet been finalized.

“The White House has contacted us but there’s been no official date or time,” Ryder’s father, retired firefighter Shane Williams, 54, told The California Post.

Trump extended the invitation after dramatic footage of Ryder’s rescue at Seabright Beach spread across social media, drawing nationwide attention. The president said he wants to welcome Ryder and his family to Washington, D.C., where he plans to personally present the young lifeguard with a prestigious civilian award recognizing his heroism.

Despite the sudden national spotlight, Shane Williams said the family is eager to return to everyday routines as Ryder gets ready to begin the school year on Aug. 6.

“We just want to get back to normal life and let him start high school and start playing water polo,” he said.

Ryder’s father also expressed appreciation for the recognition his son has received from President Trump.

“I would love to take my son there and I think he deserves that.”

Shane said Ryder is currently limiting media appearances to interviews coordinated through California State Parks. He added that so many people have been contacting the family since the rescue that he could not even recall which White House official had called because his phone had been “blowing up.”

He also declined to discuss when the family expects to travel to Washington or whether Ryder will meet again with the 10-year-old boy he rescued, explaining that any future announcements will come through California State Parks.

Ryder’s act of heroism took place on July 25, when an unexpected 8-to-10-foot sneaker wave swept 10-year-old Nathaniel Rai, of Dallas, into deep water off Seabright Beach.

The teenage lifeguard fought through pounding waves for approximately two minutes before reaching the unconscious boy in the water.

Another lifeguard, Aaron Bohnen, swam out to assist, and together the two rescuers brought Nathaniel back to shore, where lifesaving efforts successfully revived him.

Nathaniel is expected to make a full recovery from the terrifying ordeal.

The dramatic rescue occurred during an exceptionally busy day for Santa Cruz district lifeguards, who responded to 34 separate rescues along the coastline.

Nathaniel’s father, Sumit Rai, previously praised Ryder’s actions, telling The NY Post he was “so grateful” to the young lifeguard for saving his son’s life.

{Matzav.com}

Residents were evacuated from homes in Kesalon, near Beit Shemesh, on Sunday afternoon as a wildfire advanced toward the community and threatened residential buildings.

Israel’s Fire and Rescue Authority declared a major firefighting emergency and deployed approximately 30 ground crews, supported by six firefighting aircraft, to battle the flames.

The first row of homes in Kesalon’s Migdal Ha’Esh neighborhood was evacuated as firefighters worked to stop the fire from spreading deeper into the community. Crews were also operating along the front line near buildings as strong winds pushed the blaze uphill.

Jerusalem District Police closed the section of Highway 395 between the Eshtaol junction and the Sataf area due to the fire. The Mateh Yehuda Regional Council activated its emergency response team and said additional evacuations would be carried out if necessary.

Authorities urged the public to stay away from the area, keep access roads clear for emergency vehicles and follow instructions issued by police and firefighting officials.

The fire erupted during an intense heat wave affecting Israel, with temperatures reaching the upper 30s Celsius in the Jerusalem area. Hot, dry conditions and strong winds increased the danger of the flames spreading rapidly through the hills.

Temperatures were expected to remain unusually high on Monday before beginning to ease, with a more significant drop forecast later in the week.

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(YWN World Headquarters – NYC)

Meta chief executive Mark Zuckerberg has launched a new marketing campaign arguing that artificial intelligence will strengthen human connection rather than weaken it, as the company accelerates one of the largest AI investment programs in corporate history. The campaign is designed not only to shape public opinion but also to reinforce Meta’s long-term strategy of embedding AI into commerce, communication and everyday consumer experiences.

Zuckerberg outlined the message Thursday in a Facebook post, saying Meta’s mission has always been to give people the power to share, connect and shape their world, and that the arrival of AI does not change that mission. A source familiar with the effort confirmed to Axios that the accompanying video is part of a broader paid and earned media campaign promoting Meta’s AI vision.

The advertisement directly rejects growing concerns that AI will leave people less connected, eliminate jobs and concentrate power among a handful of technology companies. Instead, Meta argues that the greatest value of artificial intelligence comes from putting advanced tools into the hands of billions of people, continuing the philosophy that guided the company’s social media platforms over the past two decades.

Behind that optimistic message is an enormous financial commitment. Meta expects to spend between $115 billion and $135 billion on capital expenditures in 2026 as it expands the computing infrastructure needed for what Zuckerberg calls “personal superintelligence.” The company has also shifted toward proprietary AI systems, launched Meta Superintelligence Labs and installed Scale AI founder Alexandr Wang to lead the new division following Meta’s $14.3 billion investment in the company.

For businesses, the more significant development is Meta’s growing focus on AI-driven commerce. Zuckerberg has told investors that intelligent shopping agents will increasingly help consumers discover products from businesses across Meta’s platforms. As AI assistants become more involved in purchasing decisions, visibility inside those recommendations could become as important as traditional advertising for merchants that depend on Facebook and Instagram to reach customers.

The strategy places Meta in direct competition with Google, OpenAI and other developers racing to build AI agents capable of completing transactions and other complex tasks. Meta believes its advantage comes from the vast amount of user activity across Facebook, Instagram, WhatsApp and its other platforms, allowing its AI systems to generate more personalized recommendations than rivals with less consumer data.

The campaign also represents another attempt by Zuckerberg to shape the public conversation around a transformative technology before competitors define it. Unlike the metaverse initiative, which depended on widespread adoption of new hardware, Meta is integrating AI into products already used by billions of people. Whether that optimism proves justified will ultimately be measured by adoption of Meta’s AI products and the revenue they generate, not by the campaign itself.

JBizNews Desk | Menlo Park, Calif.

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The leaders of Egypt, Qatar, the United States and Turkey are expected to meet this week as part of efforts to ensure the implementation of the understandings reached under the Gaza ceasefire agreement, according to a report by Walla.

An Egyptian source familiar with the negotiations between Israel and Hamas said the mediating countries are working to guarantee that the agreement’s central provisions are carried out. The source said the greatest challenge lies in the extent of Israel’s commitment to implementing the deal.

According to the source, intensive Egyptian contacts are relying in part on pressure being exerted by President Donald Trump on Prime Minister Binyamin Netanyahu. The source said the mediators are seeking continued American involvement to help advance the agreement and ensure that the parties fulfill their obligations.

The planned meeting is expected to focus on completing the main steps of the agreement and maintaining coordination among the mediating countries amid ongoing tensions surrounding its implementation.

(YWN World Headquarters – NYC)

Calls to prosecute Dr. Anthony Fauci have intensified following his dramatic appearance before a Senate committee, where he repeatedly invoked the Fifth Amendment rather than answer lawmakers’ questions. While many conservatives are demanding criminal charges, legal experts say sending the former White House chief medical adviser to jail may be far more difficult than his critics believe.

In the hours after Wednesday’s hearing, prominent MAGA figures and Republican allies argued that Fauci should face immediate legal consequences for refusing to testify.

“Why, when Fauci walks off of there today, is he not cuffed?” Steve Bannon, a former adviser to President Donald Trump, asked on his War Room podcast on Wednesday. “People are furious today to cut on this and see Fauci hiding behind the Fifth Amendment … He should die in prison.”

Conservative commentator Matt Walsh echoed that frustration in a post on X.

“Why isn’t he under arrest?” far-right podcaster Matt Walsh wrote on X. “Why isn’t he facing any real consequences? Why aren’t you actually doing anything?”

Appearing before the Senate committee investigating the government’s response to the COVID-19 pandemic, Fauci invoked his constitutional right against self-incrimination more than 100 times. In prepared remarks, he argued that the hearing was designed to trap him rather than uncover the truth.

“The only conclusion I can reach is that the sole reason he is calling me before this committee is to get me to say something, anything, that could vindicate his repeated public pledges that I end up, in his words, ‘behind bars,’” Fauci said.

Sen. Rand Paul, who chaired the hearing, has long maintained that Fauci played a role in concealing information about the possible origins of COVID-19.

As demands for Fauci’s prosecution grew louder, WIRED asked constitutional scholars and former federal prosecutors whether Congress could realistically put the longtime public health official behind bars.

One major complication is the preemptive pardon issued by President Joe Biden before leaving office. The pardon covers potential federal offenses committed by Fauci between 2014 and 2025, shielding him from prosecution for conduct during that period. It does not, however, apply to anything Fauci may have said or done after receiving the pardon.

Paul has argued that accepting a presidential pardon eliminates a witness’s ability to invoke the Fifth Amendment for matters covered by that pardon, citing an 1896 Supreme Court ruling.

“I think there is a very real chance that he could be prosecuted for that,” Paul told CBS News after the hearing. “A court ultimately would have to determine: Does the Fifth Amendment apply to someone who already has a pardon?”

Paul also announced that his committee intends to vote next week on whether to hold Fauci in contempt of Congress. A contempt conviction carries a possible penalty of up to one year in prison and a $100,000 fine. Even if the committee approves the measure, it would still require 60 votes on the Senate floor—a threshold viewed as highly unlikely without significant Democratic support.

Legal scholars note that similar constitutional questions have arisen before. Before leaving office in 2020, President Donald Trump granted pardons to several allies, including former National Security Adviser Michael Flynn and former campaign chairman Paul Manafort. At the time, constitutional experts suggested those pardons could affect whether recipients could later refuse congressional testimony.

Steve Bannon himself offers another example. Although Trump pardoned him in 2021 on federal fraud charges connected to the “We Build the Wall” fundraising effort, that pardon did not shield him from contempt of Congress charges after he refused to comply with subpoenas issued by the House committee investigating Jan. 6. Bannon was later convicted and served a four-month prison sentence.

Legal experts interviewed by WIRED, however, believe Fauci’s circumstances differ significantly because he carefully limited his Fifth Amendment claims to statements he might make during Wednesday’s hearing—not to actions covered by Biden’s pardon.

“Pardons cannot apply to future conduct,” constitutional scholar Aziz Huq told WIRED. “Ergo, to the extent the concern was a prosecution for perjury or material omissions in statements to Congress, then those offenses would be a basis for Fifth Amendment invocation, and so not amenable to contempt.”

Former U.S. Attorney Barbara McQuade agreed that Fauci appears to be on firm constitutional footing.

“The answer is no. Each of us has a constitutionally guaranteed right against self-incrimination as long as we have a reasonable fear of criminal prosecution,” McQuade tells WIRED. “Just because Fauci got a pardon for crimes he ‘may’ have committed in the past does not give him a get-out-of-jail free card for any crimes he might commit after the date of the pardon.”

McQuade argued that because Fauci could reasonably fear being accused of perjury during the hearing, invoking the Fifth Amendment was legally justified. She noted that Supreme Court precedent protects even “innocent men” who fear being “ensnared by ambiguous circumstances.”

Huq cautioned that he could not offer a definitive opinion because he does not know the precise legal basis behind each instance in which Fauci invoked the Fifth Amendment.

McQuade also pointed out that Congress has another option if it wants Fauci’s testimony. Lawmakers could grant him immunity, preventing his testimony from being used against him in future criminal proceedings.

“That immunity would be binding on the Justice Department as well,” McQuade added.

Although Biden’s pardon protects Fauci from federal prosecution for covered conduct, it does not shield him from potential state investigations. Just hours after the Senate hearing concluded, Florida Attorney General James Uthmeier announced that his office would begin investigating Fauci.

“office is launching an investigation into Dr. Fauci. It’s past time we get the truth of what happened during Covid.”

Uthmeier’s office did not provide additional details about the scope of the investigation.

Fauci’s attorney, David Schertler—who was escorted out of the hearing by security at Paul’s direction—declined to comment to WIRED but defended his client’s decision in remarks to CBS.

“We are completely confident that Dr. Fauci has a valid Fifth Amendment privilege here and is on solid legal ground in asserting it.”

{Matzav.com}

A U.S. Army soldier accused of using classified information to place winning bets on the operation that captured Venezuelan leader Nicolás Maduro is asking a federal judge to dismiss the case, arguing that prediction-market wagers are not prohibited by existing criminal law, Bloomberg reported.

Prosecutors allege the soldier had access to secret details about the planned U.S. operation and used that information to place bets on Polymarket predicting that Maduro would be removed from power and that American forces would enter Venezuela. The wagers allegedly generated substantial profits.

His attorneys argue that even assuming the government’s allegations are true, the conduct does not amount to a crime under the statutes cited by prosecutors. “A criminal court, not an internet exchange, governs bets,” the defense wrote, arguing that the case is built on an untested legal theory.

The soldier has pleaded not guilty to charges that include transferring proceeds allegedly connected to a crime and remains free on bond while the case proceeds. His lawyers contend that federal commodities laws aimed at illegal financial swaps do not clearly apply to political prediction-market wagers.

Prosecutors maintain that the bets were tied directly to classified military information obtained through the soldier’s position and that the profits were therefore unlawful. The dispute could become an important test of how existing laws apply to prediction markets when wagers are allegedly placed using government secrets.

(YWN World Headquarters – NYC)

A Turkish national accused of helping funnel millions of dollars and supplies to Hamas through a humanitarian organization has been arrested in the United Kingdom and is expected to be extradited to the United States to face terrorism-related charges.

According to U.S. prosecutors, 45-year-old Muhammad Yusuf Hasana of Istanbul played a central role in a network that allegedly used a global charity as a front to transfer money, food, and other resources to Hamas leaders.

Hasana was arrested in the U.K. on Friday at the request of U.S. authorities. His detention has been extended while extradition proceedings move forward, after which he is expected to stand trial in federal court in New York.

Manhattan U.S. Attorney Jamie McDonald said Hasana worked closely with senior Hamas officials to provide financial and logistical support under the guise of humanitarian aid. Hamas is designated by the United States as a Foreign Terrorist Organization.

(YWN World Headquarters – NYC)

New Jersey businesses failed at the sixth-highest rate in the country over the past year, and the state posted the second-steepest year-over-year increase in filings anywhere in the nation, according to a new analysis of federal court data released Friday by LendingTree.

The state recorded 93.1 business bankruptcy filings per 100,000 small businesses, placing it behind only Delaware, the District of Columbia, Texas, Nevada and Arkansas. In raw numbers, New Jersey businesses filed 979 bankruptcy petitions against a base of 1,051,630 small businesses statewide — up from 546 filings a year earlier, a jump of 79.3%. Only one state saw a larger percentage increase.

The New Jersey numbers sit inside a national picture that is also deteriorating. Business bankruptcy filings across the United States rose to 25,796 in the 12 months ended March 31, 2026, from 23,154 in the comparable period a year earlier — an increase of 2,642 filings, or 11.4%. Chapter 7 liquidations and Chapter 11 reorganizations together accounted for close to 93% of all business bankruptcies nationwide, meaning the bulk of these cases involved either shutting the doors or attempting a court-supervised restructuring.

The Tri-State Picture

New York was not far behind its neighbor. The Empire State ranked seventh nationally at 88.9 filings per 100,000 small businesses, logging 2,114 business bankruptcies against 2,378,996 small businesses. That places two of the three tri-state economies inside the national top 10 for business failure rates — a signal that the pressures squeezing employers are not confined to one state’s tax or regulatory climate but are running through the entire metropolitan corridor.

Delaware’s position at the top of the table requires a caveat familiar to anyone who has filed incorporation papers. The state recorded 600 filings against 111,346 small businesses, producing a rate of 538.9 per 100,000 — a figure inflated by Delaware’s role as the nation’s corporate registration capital, where a very large number of companies are legally domiciled without operating there. The District of Columbia followed at 147.6 filings per 100,000, with Texas at 129.7, Nevada at 103.2 and Arkansas at 93.9. Rounding out the top 10 behind New York were Louisiana at 86.3, Oklahoma at 83.9 and Mississippi at 80.4.

What Is Driving The Increase

Matt Schulz, chief consumer finance analyst at LendingTree, pointed to a combination of debt loads, borrowing costs and inflation-driven expenses as the likely culprits behind the national increase. He described “higher interest rates, lingering inflation and softer consumer demand” as a difficult mix for many companies. When the cost of borrowing climbs at the same moment customers pull back on spending, Schulz said, businesses operating on narrow margins or carrying meaningful debt frequently run out of maneuvering room.

That description maps closely onto the position of the small and mid-sized firms that make up the backbone of New Jersey’s business community — retailers, restaurants, distributors, contractors and service providers that typically carry floating-rate debt, hold thin cash reserves and have limited ability to pass rising costs to customers without losing volume.

The Methodology

LendingTree examined U.S. Courts bankruptcy filing data for the 12-month periods ending March 31, 2025, and March 31, 2026, counting total business filings across all bankruptcy chapters. To produce comparable state rates, the firm divided each state’s filings by its small-business count as reported in the U.S. Small Business Administration Office of Advocacy’s 2025 state statistics, then multiplied by 100,000. The SBA reports that small businesses represent 99.9% of all U.S. businesses, which makes small-business counts a workable denominator for measuring how exposed a given state is to business failure.

What It Means Going Forward

The rate itself is one measure; the trajectory is another. A 79.3% one-year increase in filings suggests that New Jersey’s ranking reflects an accelerating condition rather than a stable one. If the same rate of increase holds through the next reporting period, the state moves up the table regardless of what happens elsewhere.

For lenders, landlords and suppliers doing business with New Jersey firms, the practical takeaway is that counterparty risk in the state has measurably risen over the past 12 months. For policymakers, the figures land as the state continues to weigh affordability, energy costs and the tax burden carried by employers — the same set of pressures that determine whether a business with a thin margin makes it through the next cycle or joins the filing count.

JBizNews Desk | Trenton, N.J.

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

Former Vice President Kamala Harris identified the presidents she considers the most effective in American history during an appearance at the National Urban League Conference—but notably omitted President Joe Biden, despite having served as his vice president for four years.

During a conversation with National Urban League President Marc Morial, Harris was asked to “rank the top 3 most effective American presidents in history.”

Harris began by praising Franklin Delano Roosevelt, crediting him with helping the country through periods of extraordinary hardship by expanding government investment in the American people.

She then highlighted Presidents John F. Kennedy and Lyndon B. Johnson, explaining that Kennedy laid the foundation for major initiatives that Johnson later carried forward.

“I credit Kennedy, of course, in terms of what he laid the groundwork for,” Harris continued. “And then Johnson followed up on.”

Harris rounded out her list by praising President Barack Obama, pointing specifically to his healthcare reforms and other accomplishments during his administration.

“What he did with the Affordable Care Act and many things.”

She argued that the Affordable Care Act addressed one of America’s most persistent problems.

“If we had one issue that’s been ailing America for generations, which is a healthcare system that has failed anyone other than the rich,” she stated.

Absent from Harris’ list was President Joe Biden, under whom she served after the two won the 2020 election.

The omission comes after Harris publicly criticized Biden’s decision to seek reelection in her 2025 memoir, 107 Days, where she argued that his decision to remain in the race proved to be a mistake.

“I knew it would come off to him as incredibly self-serving if I advised him not to run. He would see it as naked ambition, perhaps as poisonous disloyalty, even if my only message was: Don’t let the other guy win,” Harris wrote.

She also reflected on Biden’s age and declining stamina during the campaign.

“But at 81, Joe got tired,” she continued in the memoir. “That’s when his age showed in physical and verbal stumbles.”

Biden initially launched a campaign for a second term in 2024 but came under mounting pressure from Democratic leaders to withdraw after his widely criticized debate performance against President Donald Trump.

When Biden ultimately exited the race, he endorsed Harris, leaving her just 107 days to mount a presidential campaign before Election Day.

Harris has also criticized Biden’s decision to seek another term during a separate appearance on MSNBC’s The Rachel Maddow Show, where she said she believed she had a “certain responsibility” to push back against his 2024 reelection bid.

Spreading regulatory concern over New York City office-to-residential conversions intensified after two more developments experienced work stoppages due to jobsite issues.

Inspectors fully halted work at 222 Broadway in Lower Manhattan after cracked concrete beams on the 32nd floor went unreported to officials for weeks. A partial work stoppage was issued for 750 Third Avenue in Midtown Manhattan.

The New York City Department of Buildings issues thousands of stop-work orders annually. However, these latest stoppages underscore increased scrutiny following the former Pfizer headquarters conversion scare that shook confidence in the city’s conversion strategy.

New York City Mayor Zohran Mamdani and housing leaders regard office-to-residential conversions as a strategic linchpin to ease the city’s housing shortage faster than ground-up development and construction projects. The mayor is taking advantage of 2024 tax incentives that set in motion a heftier conversion pipeline.

The city has long been a leader in conversions and is a model for other cities nationwide pursuing similar strategies to turn languishing office real estate into apartments. But alarm bells went off after a couple of columns partially collapsed during developer MetroLoft‘s 1,600-unit conversion of the former Pfizer building.

Work stoppages expand

Last Friday, the Department of Buildings announced on social media that reviews of the MetroLoft building’s stabilization and façade enclosure work had “no significant structural issues which would endanger public safety.”

But a partial stop-work order remains because of further inspections.

That incident triggered heightened analysis of the other Manhattan projects.

The 222 Broadway building, built in 1962 and served as Western Electric’s headquarters, is on its third stop-work order in a matter of weeks. Developer GFP Real Estate is converting the building into 300 apartments. Engineering firm DeSimone submitted requested repair documentation last Friday, but the full stop-work order remains active pending departmental review.

A week before the latest order, the city issued two stoppages, according to DOB database. One was for work that didn’t conform to approved construction documents. The other was for failing to provide required professional engineer drawings.

Separately, developer SL Green told the New York Times it self-identified the discrepancy, which drew the work order action, and is working with the city to lift the order quickly. Inspectors found steel welding on upper floors that didn’t match filed building plans, though officials reported no structural distress.

The developer is converting the 1957 building into 639 apartments. A spokesman told the Times that the firm discovered the problem with existing columns after initial preparation work.

Preparing for the unknown problems

SL Green’s problem dovetails with a familiar theme among conversion specialists that even careful preparation can’t catch everything.

“You just never know until you get into the older buildings and start taking down walls and exposing some of the structural elements of the building,” Andy O’Brien, a partner at insurance and risk advisory firm The Baldwin Group, told HousingWire TBD.

John Edwards, a partner at Washington-based McClennan+Partners Architects, said on a Harvard Joint Center for Housing Studies webinar that upfront analysis is vital.

“We’ve done far, far more feasibility and due diligence studies for conversions than we’ve actually done conversions,” Edwards said.

He added that, for developers, understanding a building’s structural and regulatory characteristics from the outset is just as important as the design considerations themselves.

O’Brien agreed that exploration reduces risk, but projects still need to factor in the cost of the unknown.

“The ones that I’ve seen that are really successful go in eyes wide open, and prepare for the unknown,” he said. “They have either contingencies set up or at least a source of additional funding to pay for the cost to rectify late defects that they may not have seen.”

This post was originally published on here.

No serious injuries are being reported.

While the horrors of the October 7 massacre were largely associated with the thousands of Hamas terrorists who stormed Israeli communities by land, a senior Israeli officer who investigated the attack says an equally dangerous battle was unfolding off Israel’s coastline. Brig. Gen. (res.) Oren Solomon now says Hamas came dangerously close to carrying out a devastating maritime strike that, had it succeeded, could have triggered an unimaginable catastrophe. “Half of Ashkelon could have been vaporized,” he warned.

The world watched as terrorists breached the Gaza border fence and overran communities throughout southern Israel. But Solomon, who led the investigative team examining the Gaza Division’s performance during the war, says the naval front has received only limited attention despite the extraordinary danger it posed.

Speaking with Arutz Sheva, Solomon disclosed details from the Israeli Navy’s internal investigation, arguing that much of what occurred at sea has never been fully presented to the public. He said that while Hamas launched its assault on land with thousands of terrorists, drones, UAVs, and paragliders, it simultaneously activated a sophisticated naval force equipped with elite commandos, high-speed attack boats, and unmanned submarines carrying massive explosive payloads.

According to Solomon, Hamas spent years building what he described as one of its most advanced military capabilities. “These weren’t just naval commandos,” he said. “These were forces trained in diving, amphibious landings, and carrying out attacks by sea. In addition, Hamas developed unmanned submarines with remote navigation capabilities, carrying substantial explosive charges.”

He said that as the attack began at approximately 6:30 a.m., seven commando boats carrying roughly 45 terrorists departed the Gaza coast, each assigned to a separate objective. Two vessels were reportedly dispatched to attack an Israeli offshore natural gas platform, while others targeted strategic sites, including EAPC facilities. Another boat reached Zikim Beach, where terrorists murdered civilians who had sought refuge inside a bomb shelter and a public restroom.

Solomon believes the greatest disaster was narrowly prevented. “If the boats assigned to the gas platform had succeeded,” Solomon said, “we would have faced an event on an entirely different scale. A successful strike on an active gas platform could have caused an enormous disaster.”

He added that the danger did not end with the initial morning attack. Later that afternoon, Hamas launched an unmanned underwater explosive craft toward Israel, but the Israeli Navy intercepted it before it could reach its target.

“This is an incident that has barely been discussed,” he said. “Had that submersable struck the gas platform, half of Ashkelon could have been vaporized. It was a great miracle.”

Beyond recounting the events of that day, Solomon sharply criticized the official investigations that followed the war. In his view, they fail to accurately reflect what happened, placing the blame primarily on commanders in the field while shielding more senior military leaders from responsibility.

As one example, Solomon highlighted the actions of Ashdod Naval Base commander Col. Eitan Paz. He said that at approximately 4:30 a.m., Paz was informed by the Gaza Division commander that unusual developments had been detected overnight. At the same time, commanders were instructed not to alter normal military activity out of concern that visible preparations might alert Hamas.

Rather than relying exclusively on those orders, Solomon said Paz contacted Navy Headquarters to confirm the intelligence before independently raising the alert level. He mobilized reserve personnel, sent naval vessels to sea, reinforced security around strategic installations, and personally returned to command the base.

“These were tactical actions intended to balance the directive not to disrupt routine with the need to be prepared,” Solomon said. “The forces had also conducted an exercise just one month earlier that simulated an infiltration by commando boats, so when the attack began, they knew exactly how to respond.”

Despite those decisions, Solomon said Paz ultimately became the one held accountable.

“The commander of Ashdod Naval Base left his position, while the entire chain of command above him remained in place. That’s a question that needs to be asked.”

Solomon also contended that the Israeli Navy had gathered unusual intelligence in the days before October 7 that was never passed along to the Ashdod base commander. Additional warning signs received during the night, he claimed, likewise failed to result in the operational preparations that should have followed.

“What is no less serious than the failure itself,” he said, “is the attempt to cover it up. Some of the information simply did not appear in the investigations. A narrative was created that shifts responsibility downward while protecting the senior command. In my view, that is one of the gravest problems.”

According to Solomon, a separate review committee led by Maj. Gen. (res.) Sami Turgeman rejected the Navy’s investigation, along with several other central investigative reports, concluding that they fell short of the professional standards expected.

Solomon closed by warning that Israel cannot afford to learn only part of the lessons from October 7.

“There are incidents the public knows nothing about,” he said. “If we don’t study them thoroughly and present the full picture, they could happen again. We must not cover things up. We have to understand what really happened in order to prevent the next disaster.”

{Matzav.com}

The IDF is introducing a broad range of battlefield upgrades shaped by lessons from ongoing combat, including stronger armored vehicles, expanded drone capabilities, laser-based air defenses and advanced systems for frontline troops, according to a report in i24 News.

Among the developments is an upgraded Levi armored platform equipped with a more powerful engine to improve performance on steep terrain and under demanding battlefield conditions. The military is also strengthening armored vehicles with improved protection, sensors and communications systems.

Small drones are becoming a central part of ground operations, giving soldiers the ability to scan alleyways, identify threats and gather real-time intelligence before entering dangerous areas.

The “Or Eitan” laser system is also expected to add a new layer to Israel’s air defenses by destroying drones and other aerial threats at a far lower cost than traditional interceptor missiles.

The overhaul extends to individual soldiers as well, with new machine guns, night-vision systems and smart sights intended to improve accuracy, awareness and effectiveness in difficult terrain and low-visibility conditions.

Together, the upgrades are designed to create a faster, more connected and more precise fighting force capable of confronting threats ranging from rockets and drones to close-quarters combat.

(YWN World Headquarters – NYC)

Hours after US President Donald Trump walked back his public pledge to give Ukraine the license to build Patriot interceptor missiles, Russian ballistic missile attacks on Ukraine killed at least nine people and injured dozens.

Ukrainian President Volodymyr Zelensky said that more than 1,500 sites, including regular residential buildings, were targeted over the course of last week.

Ukraine has notably become a world leader in drone production and deterrence, but has yet to figure out a way to protect itself from ballistic missiles. It has repeatedly courted the US and countries in Europe for interceptor missiles to defend its larger population centers.

Overnight from Friday into Saturday, Russia reportedly fired 35 missiles, including 27 ballistic missiles, and 185 attack drones, Zelensky claimed. 

Only one ballistic missile was intercepted, the Ukrainian president said, “simply because there are no interceptors for the Patriot systems.”

He added that “it is this shortage of ballistic missile interceptors that only encourages Russia to launch such attacks that take human lives.”

Ukraine’s Foreign Minister Andrii Sybiha issued more urgent pleas for the missiles, saying that it is “the battle for the skies that will define the trajectory of this war,” he said. 

“The stronger the air shield over Ukraine, the closer peace becomes.”

Zelensky pushes for Patriot interceptors after Russian attacks killed nine

In comments on Sunday, Zelensky said that because of the shortage of interceptors, Russia has been pushing to expand its defense industry, and has placed a heavy emphasis on producing even more ballistic missiles.

“A significant number of Russian enterprises working to sustain these attacks by producing components for drones, missiles, and guided aerial bombs have still not been sanctioned,” he wrote on X/Twitter.

“That is why the aggressor is investing more and more in its ballistic weapons capability and is trying to ramp up production.”

On Friday, Trump appeared to walk back his pledge to give Ukraine the license to produce its own Patriot interceptor missiles, which he agreed to in July at the NATO summit.

“We’re talking about it, but it’s a hard thing to give away that kind of technology,” Trump said during a Cabinet meeting at Camp David. “We have to be very careful. Now, we have not agreed to that. We’re talking about it. But it’s a hard thing to give away that kind of technology.”

In July, Trump told Zelensky to “make them [the Patriot missiles] yourself.”

“We’re going to give a license to you to make Patriots. That’s pretty cool, right?” Trump said. “This way he can’t complain that we’re not giving him enough. I said, ‘Make them yourself.'”

Zelensky has not given an official public statement on Trump’s reversal, but appeared to address them in his nightly video address on Saturday.

“It is crucial that our partners understand that these systems are not needed sitting in warehouses for hypothetical scenarios, but here and now,” Zelensky said on Saturday.

Of course, we see every leader and every country that responds to Russia’s strikes on Ukraine. But the only strong and just response – the one that truly achieves its goal and helps people – is additional support for our state. The world has Patriot missiles. What matters now is… pic.twitter.com/tt5OlKTM5K

— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) August 1, 2026

“Every anti-ballistic missile package saves the lives of our people. And every night that we lack them results in casualties.”

“The world has Patriot missiles. What matters now is for our partners to make the political decision to provide the necessary packages,” he said.

“The United States knows what we need. Europe knows what we need. And every day without this vital assistance gives Russia another chance to kill our people.”

This post was originally published on here.

American Airlines extended the cancellation of all flights to Ben-Gurion Airport until at least March 2027, N12 News reported on Sunday.

The US carrier has not operated its route from New York’s John F. Kennedy Airport (JFK) to Tel Aviv since October 2023 following the Hamas-led October 7 massacre.

The Jerusalem Post’s investigation shows that no one-way flights are available on the route until at least March, with availability appearing to return in the beginning of April 2027, as of the time of writing.

According to the airline’s website, a waiver remains in place for all passengers affected by the cancellations, with options available for free changes or full refunds.

The airline has also canceled its flights to Doha, Qatar, until at least January 2027, citing regional unrest, with similar options available for affected passengers.

In October 2025, the carrier announced it planned to resume flights to Israel in March 2026, including a planned route from Los Angeles to Tel Aviv. However, the operations never materialized.

Delta Air Lines, United Airlines expected to return by year’s end

Competing US carriers Delta Air Lines and United Airlines have also canceled Israel flights, though both are expected to return prior to the end of 2026, with both having operated the flights intermittently since the October 7 attacks, halting them as regional tensions developed.

In addition, American Airlines operated a route from Miami to Tel Aviv in the past, though the route was canceled prior to October 2023 due to operational reasons, leaving Israeli carrier El Al the only operator on the route.

This post was originally published on here.

A rainbow around the sun is a solar halo meaning that ice crystals are present in high-altitude clouds, light is bending at a 22-degree angle, and rain may be approaching.

Google removed a new AI image-generation feature from Google Earth less than 24 hours after launch, after users produced realistic fake scenes tied to real locations and raised immediate concerns about misinformation, public safety and the reliability of satellite imagery.

The tool allowed users to type a prompt and generate photorealistic images grounded in Google Earth’s satellite, aerial and three-dimensional data. It was powered by Google’s Nano Banana 2 model and could place fictional events, buildings or damage onto recognizable locations.

Google said it paused the capability after seeing users share generated images that appeared to violate company policies. The company did not specify which images triggered the decision but said it was adding stronger safeguards before considering a relaunch.

The reversal exposes a problem that ordinary AI image generators do not create at the same scale. Google Earth is widely treated as a factual mapping and imagery service, so fabricated scenes produced inside the platform can appear more credible than images generated in a separate creative application.

Users were able to create artificial scenes involving disasters, armed conflict and other sensitive events at real-world locations. Even when the images were obviously fictional to the person generating them, screenshots could be detached from their original context and circulated as evidence of an actual event.

Google said the generated images were watermarked and did not appear in the main Google Earth experience. Those protections reduced the risk of the platform itself confusing generated content with authentic imagery, but they did not prevent users from sharing screenshots elsewhere.

Watermarks also depend on people knowing where to look and trusting the detection system. Once an image is cropped, compressed or reposted, ordinary viewers may not recognize that it was generated by AI.

The business implications extend beyond Google. Mapping platforms are used by news organizations, insurers, real-estate professionals, logistics companies, governments and emergency-response teams. Their value depends on users believing the underlying geographic information reflects reality.

A tool that can quickly generate convincing false imagery threatens that trust. Insurers could face fabricated property damage claims, investors could react to fake scenes involving factories or ports, and emergency officials could be forced to verify images before responding.

Real-estate professionals were among the intended users. Google promoted the feature as a way to visualize redevelopment plans, historical scenes and possible uses for empty land. Those applications remain commercially useful, but they require a clear separation between planning concepts and current conditions.

The same technology could help architects, municipalities and developers show how a neighborhood might look after construction. Yet a realistic visualization can become misleading when it is presented without the prompt, timestamp or AI label that explains how it was created.

Google’s decision illustrates the difficulty of adding generative AI to products built around factual information. The more closely an AI output resembles a trusted record, the greater the harm when safeguards fail.

Search engines, maps and satellite platforms carry a different responsibility than entertainment tools because users often rely on them to make decisions. Speeding an image feature to market without sufficient controls can therefore create legal, reputational and operational risks far larger than the feature’s immediate revenue potential.

The pause also shows how quickly public testing can uncover weaknesses that internal evaluations miss. Google launched the tool on Thursday and withdrew it Friday after researchers and users demonstrated how easily it could be used to create deceptive scenes.

Competitors will face the same challenge as geospatial AI expands. Satellite and mapping data can support urban planning, disaster forecasting, agriculture and infrastructure analysis, but combining those systems with unconstrained image generation creates an obvious path to manipulation.

Google now must decide whether stronger guardrails can preserve the commercial value without undermining trust in Google Earth itself. That may require blocking sensitive prompts, limiting the locations that can be altered, embedding visible labels and making generated images easier to authenticate outside the platform.

Pulling the feature after one day prevented a larger rollout problem, but it also revealed how little margin for error exists when generative AI is placed inside a product people use as a record of the physical world.

JBizNews Desk | Mountain View, California

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

The race to become the next Secretary-General of the United Nations is underway, with seven official candidates seeking to succeed António Guterres when his second term ends on December 31, 2026. The next Secretary-General will begin a five-year term on January 1, 2027, subject to approval by the U.N. Security Council and the General Assembly.

Among the leading candidates is Rafael Grossi of Argentina, who has served as Director General of the International Atomic Energy Agency (IAEA) since 2019. Grossi has gained international prominence for his work on Iran’s nuclear program and efforts to maintain nuclear oversight during the war in Ukraine. Supporters view him as an experienced diplomat, while critics argue he has at times been too flexible in negotiations with Iran.

Another prominent contender is Rebeca Grynspan of Costa Rica, a former vice president and current Secretary-General of the U.N. Conference on Trade and Development (UNCTAD). Grynspan has temporarily stepped aside from her role during the campaign, pledging to make the United Nations more efficient while strengthening its focus on peace, development, and human rights.

Former Chilean President Michelle Bachelet is also seeking the position. A former U.N. High Commissioner for Human Rights, Bachelet has been a frequent critic of Israel and has faced criticism in the United States over her handling of China’s treatment of the Uyghur population. Her candidacy was weakened after Chile’s government withdrew its support.

Other candidates include former Senegalese President Macky Sall, former Ecuadorian Foreign Minister and U.N. General Assembly President María Fernanda Espinosa, Guyana’s U.N. Ambassador Carolyn Rodrigues-Birkett, and former U.N. Under-Secretary-General Olara Otunnu of Uganda.

The selection process is expected to be highly competitive, with each candidate needing not only broad support from U.N. member states but also the backing—or at least no veto—from the five permanent members of the U.N. Security Council: the United States, the United Kingdom, France, Russia, and China.

From Israel’s perspective, Grossi is widely viewed as the most favorable candidate among the declared field due to his relatively firm stance on Iran’s nuclear program and his willingness to publicly challenge Tehran over its lack of cooperation with international inspectors.

By contrast, Bachelet is widely regarded in Israel as the least favorable contender because of her repeated criticism of Israeli policies during her tenure as U.N. High Commissioner for Human Rights. The remaining candidates are generally viewed as more neutral, with limited records of either strong support for or opposition to Israel.

Guterres, whose tenure ends at the close of this year, has frequently faced criticism from Israeli officials over his handling of the Israeli-Palestinian conflict and his repeated public criticism of Israel.

(YWN World Headquarters – NYC)

As the busy bein hazmanim travel season reaches its peak, aviation officials are warning that flight disruptions at Ben Gurion Airport could worsen in the coming days, with additional delays—and even last-minute schedule changes or cancellations—becoming increasingly possible.

As Matzav previously reported, security officials estimate that roughly 10 more U.S. Air Force aerial refueling aircraft are expected to arrive in Israel in the near future, with most of them likely to be stationed at Ben Gurion Airport.

More than 30 American refueling aircraft are already parked at the airport. In the past, the Israel Airports Authority warned that even the presence of more than 20 aircraft of this type could significantly disrupt airport operations. This week, travelers have already begun experiencing the impact.

According to Ben Gurion Airport’s congestion index, average delays this week reached approximately 65 minutes at Terminal 3 and about 61 minutes at Terminal 1. On Thursday alone, more than 90,000 passengers passed through the airport, creating exceptionally heavy congestion.

Passengers also reported lengthy waits to retrieve their luggage, with some waiting more than two hours before their bags arrived.

In an unusual public statement, the Israel Airports Authority said the large number of military refueling aircraft has created substantial operational challenges. Officials described the situation as a “domino effect” that is slowing airport operations and disrupting flight schedules at one of the busiest travel periods of the year.

Authorities are now concerned that the arrival of additional military aircraft could further strain airport operations, leading to more delays and even last-minute changes to flight schedules.

For the many families traveling during bein hazmanim, that could mean extended waits, gate changes, delayed departures, or even canceled flights.

The airport has also been dealing with unrelated operational challenges. Earlier this week, officials reported a communications failure involving an air traffic radar system in Greek airspace, creating congestion in regional air traffic that affected flights to and from Israel.

The Israel Airports Authority is urging travelers to check directly with their airlines before leaving for the airport, arrive well in advance of their scheduled departure times, and be prepared for the possibility of additional delays over the coming days.

OPEC+ agreed Sunday to raise September production targets by 188,000 barrels a day, completing another step in the reversal of voluntary cuts introduced in 2023, but the increase may do little to reduce prices while damaged infrastructure and disrupted shipping routes keep existing production from reaching buyers.

Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman approved the increase during a virtual meeting on August 2. The group will review conditions again on September 6 before deciding whether to continue raising output.

The announcement adds supply on paper at a moment when physical oil markets remain strained by war. Several producers have already struggled to convert higher quotas into actual exports because of damaged terminals, pipeline interruptions and restrictions affecting major maritime routes.

Oil production and oil availability are no longer the same thing. A country may have the capacity to pump more crude, but those barrels cannot stabilize markets if tankers cannot move safely or loading facilities remain offline.

That explains why OPEC+ can raise output targets while crude and fuel prices stay elevated. Earlier production increases have not fully reached buyers, limiting the effect of the alliance’s effort to cool the market.

Sunday’s adjustment completes the rollback of approximately 1.65 million barrels a day in voluntary reductions announced in 2023. A separate layer of roughly 2 million barrels a day in broader OPEC+ cuts remains in place through the end of 2026.

The alliance is therefore not returning to unrestricted production. It is restoring one portion of supply while preserving a larger restraint that can be adjusted if demand weakens or disrupted exports return.

OPEC’s monitoring committee warned Sunday that attacks on energy infrastructure and interruptions to international maritime routes were increasing volatility and reducing available supply. Repairing damaged facilities can take months, meaning higher quotas may not translate into more oil reaching refineries.

For airlines, trucking companies and manufacturers, delivered supply matters more than announced production. Their fuel costs depend on barrels that can be transported, processed and sold, not on targets approved during a virtual meeting.

Refining capacity creates another constraint. Even when additional crude reaches the market, shortages of operational refineries can keep gasoline, diesel and jet-fuel prices high.

That allows producers and refiners to benefit while transportation-dependent businesses absorb higher costs. Consumers eventually feel the pressure through gasoline prices, airfare, delivery charges and more expensive goods.

Energy inflation also complicates central-bank policy. Rising fuel costs can keep overall inflation elevated even as other parts of the economy slow, making it harder for policymakers to lower interest rates.

OPEC+ made no commitment Sunday about production during the final three months of the year. A pause after September would allow the group to assess whether disrupted exports are returning before adding more supply.

If maritime traffic and damaged facilities recover quickly, restoring too many barrels could create a surplus and push prices sharply lower. Continued disruption would produce the opposite result, leaving the alliance announcing higher quotas without materially changing the amount of oil available to buyers.

Internal quota negotiations add another complication. OPEC+ is reviewing member production capacity before establishing 2027 baselines, and countries that have invested in new fields are seeking larger allocations.

Those decisions determine how future oil revenue is divided among members. Producers have an incentive to demonstrate greater capacity now, even when war or logistics prevent them from exporting all of it.

Sunday’s decision gives the appearance of a supply response without guaranteeing relief. The next movement in oil prices will depend less on OPEC+ quotas than on whether tankers can move safely, damaged facilities can restart and refineries can turn available crude into the fuels the economy actually uses.

JBizNews Desk | Vienna

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

President Trump reportedly halted a planned military strike against Iran after regional mediation efforts showed progress toward a potential agreement to reopen the Strait of Hormuz, with Gulf nations offering sharply different recommendations on how Washington should proceed.

According to the report, Saudi Crown Prince Mohammed bin Salman spoke with Trump shortly before the decision was announced, urging him to pursue diplomacy rather than military action. Saudi officials reportedly warned that strikes on Iran’s energy infrastructure could trigger retaliatory attacks against oil and gas facilities across Saudi Arabia and other Gulf states.

The diplomatic push came as Qatar presented Iran with a proposal aimed at reopening the Strait of Hormuz, a critical waterway through which roughly 20% of the world’s oil supply passes. Iranian officials reportedly expressed openness to discussing the proposal, although key issues—including transit fees opposed by the United States—remain unresolved.

Behind the scenes, Gulf governments have reportedly voiced frustration over what they see as an unclear U.S. strategy, while continuing to seek additional air defense systems and security guarantees amid fears of Iranian retaliation.

The report says the United Arab Emirates has taken a more hawkish position, encouraging the Trump administration to consider decisive military action against Iran, including securing control of the Strait of Hormuz and weighing possible ground operations. Saudi Arabia, by contrast, has consistently advocated for de-escalation and diplomatic engagement.

Meanwhile, Iranian Foreign Minister Abbas Araghchi reportedly spoke Saturday with his counterparts in Saudi Arabia, Turkey, and Pakistan, warning that any U.S. or Israeli strike would prompt a powerful Iranian response and that Washington would bear the consequences.

The report also cited an Iranian diplomat as saying the Islamic Revolutionary Guard Corps is considering preemptive military action even without an American strike if diplomatic efforts collapse.

Danny Citrinowicz, a senior researcher at Israel’s Institute for National Security Studies, told the publication that Gulf states now appear to wield greater influence over President Trump than in the past, while Prime Minister Benjamin Netanyahu’s influence has diminished. He said countries such as Saudi Arabia and Qatar are prioritizing regional stability, recognizing that attacks on Iran’s energy infrastructure would likely trigger retaliatory strikes against critical facilities throughout the Gulf.

(YWN World Headquarters – NYC)

You built your wealth through business. You understand contracts, deadlines, leverage, and cash flow. Which is why it is so painful when the people with the greatest resources choose not to honor the very people who helped build their dreams.

The mansion stands completed. The lights are on. The landscaping is pristine. Yet somewhere, the contractor, electrician, mason, carpenter, or painter lies awake at night wondering how to make payroll, pay suppliers, or cover a mortgage because payment has been withheld.

A billionaire may delay payment as a business strategy.

A vendor experiences that delay as fear.

Too often, excuses are manufactured. A tiny imperfection becomes the reason to withhold hundreds of thousands of dollars. When those claims are answered and proven false, the goalposts move. New accusations appear. Then come the threats:

“If you don’t keep working, we’ll sue you.”

This is not negotiation. It is using overwhelming financial power to force someone into submission.

The wealthy can afford teams of attorneys. The small business owner often cannot. Justice should never depend on who has the larger legal budget.

Every unpaid invoice affects real people. Employees. Families. Suppliers. Sleepless nights. The emotional burden is carried by those least able to bear it.

True success is not measured by the size of a home or the balance of an investment account. It is measured by integrity—by keeping your word when no one can force you to.

To those with extraordinary wealth, I ask one simple question:

When you look around your beautiful home, can you truly enjoy it if the people who built it are wondering how they will pay their own bills?

Pay what you owe.

Honor your agreements.

Use your influence to lift others instead of crushing them.

Because greatness is measured not by how much you have, but by how fairly you treat the people who helped you build it.

TLS welcomes your letters by submitting them to us via  Whatsapp  or via email  [email protected]

There’s a remarkable new initiative making waves across the Jewish world.

The Power of a Million is an unprecedented initiative launched by Keren Tosafos Yom Tov to strengthen Kedushas HaTefillah throughout Klal Yisroel.

The goal is to inspire one million kabbalos, creating one million more focused, heartfelt tefillos. Yidden are committing not to speak during davening and taking on additional kabbalos that bring greater focus, respect, and meaning to every tefillah.

Every participant who accepts a kabbalah is also eligible for the largest prize ever offered in a campaign—a historic $1,000,000 prize toward their shul. The prize can be used for renovations, a new Sefer Torah, a mikvah, or other projects that enhance the beauty and kavod of the Makom HaTefillah.

Thousands of Yidden from every background and community have already joined this powerful movement and taken on Kabbalos to strengthen their tefillah.

Inspired by the powerful Mi Shebeirach of the Tosafos Yom Tov, which describes the extraordinary brachos promised to those who are careful not to speak during davening, this global initiative is bringing renewed respect to our batei medrash and elevating the power of tefillah throughout Klal Yisroel.

There is extraordinary power when Yidden unite in tefillah. Every individual kabbalah becomes part of something far greater, bringing together communities, shuls, and Yidden across the world through one shared commitment.

One million kabbalos means one million opportunities to strengthen our connection to Hashem and create an unprecedented collective zechus for all of Klal Yisroel.

A noted philanthropist funded the historic prize with one goal in mind: to help Yidden strengthen their tefillah and deepen their respect for the shul. At a time when so many are searching for zechusim and brachos, there is perhaps no greater zechus than honoring the Makom HaTefillah and protecting the sanctity of davening.

Be Part of Something Historic

Join thousands of fellow Yidden. Make a kabbalah not to speak during davening, strengthen your tefillah, and help bring Klal Yisroel closer to one million pure tefillos.

Visit KTYT.org and make your kabbalah today.

photos: Shot the Dot

Israeli National Security Minister Itamar Ben Gvir confronted a convicted terrorist during a visit to an Israeli prison after the inmate complained about her prison conditions, telling her that the days when security prisoners enjoyed comfortable treatment were over.

During the tour, Ben Gvir met with the imprisoned terrorist, who voiced a series of complaints about conditions inside the facility.

Pinned to the minister’s shirt was a gold lapel pin shaped like a hangman’s noose, symbolizing his support for legislation that would authorize the death penalty for terrorists.

Because the inmate spoke Arabic, Ben Gvir communicated through an interpreter, who translated the minister’s remarks into Arabic and the prisoner’s responses into Hebrew.

The terrorist complained that prison conditions had become difficult, alleging that the food was poor, the water was unclean, inmates were not receiving proper medical treatment, and that they were not being allowed out of their cells. She also claimed that the conditions had caused her to suffer from depression.

Ben Gvir dismissed the complaints, responding that prison was never intended to provide comfort for terrorists.

“The food does not need to be good. This is not a hotel.”

He went on to say that those who commit serious crimes against the State of Israel and the Jewish people should expect to face the consequences of their actions.

“Once this place was a hotel. Today it is no longer a hotel,” the minister told the inmate. “The hotel is over. This is the State of Israel.”

Ben Gvir concluded the exchange with a direct message to the prisoner.

“Anyone who commits a crime against the Jewish people should think about what they did. Don’t come back here.”

{Matzav.com}

Ken Griffin’s Citadel now owns the leveraged stock book of what was, three weeks ago, one of the most closely watched investment vehicles in America. Situational Awareness, the AI-focused hedge fund built by 25-year-old former OpenAI researcher Leopold Aschenbrenner, peaked at roughly $45 billion at the start of July. By Thursday it held about $10 billion.

The fund was forced to sell all of its public stock holdings after margin calls from its prime brokers. Citadel reached a deal to buy the publicly traded assets — among them SK Hynix and CoreWeave — at below-market prices. Bank of America, Goldman Sachs and JPMorgan Chase had been working with the fund to meet margin requirements ahead of the sale. The transaction was reportedly assembled inside 24 hours.

Both legs of the trade broke at once

The mechanics matter more than the personality here. Aschenbrenner was long AI infrastructure and short software — a paired bet that the buildout would enrich chipmakers and data center operators while pressuring application companies.

Then the AI infrastructure names collapsed and the software shorts rallied simultaneously. Nebius Group, SanDisk, Micron and CoreWeave — the fund’s top disclosed positions as of the first quarter — each shed more than 35% of their value. At the same time, software stocks like Adobe that served as the short leg went up, so the hedges provided no protection. Longs and shorts lost money together.

Reports put the fund’s leverage as high as 400%. As the portfolio’s value dropped, the equity cushion shrank and the prime brokers demanded more collateral.

Wall Street veterans were not surprised. Critics noted that Aschenbrenner had no money management experience before launching the fund in July 2024, and that his early work was at the collapsed crypto firm FTX. One Wall Street coach quoted by CNBC said the blow-up was widely seen as a question of when rather than whether. Another market strategist put it plainly: traders get overleveraged chasing outsized returns, and without proper risk management, this is the outcome.

The pedigree and the thesis

Aschenbrenner was born in Germany, enrolled at Columbia at 15, and graduated valedictorian at 19 with a degree in economics and mathematics-statistics. He joined OpenAI’s superalignment team in 2023 and was dismissed a year later over what the company described as an improper disclosure of internal information.

His 2024 essay — 165 pages arguing that increasingly capable AI would demand a vast expansion of semiconductors, memory, data centers and electricity generation — became required reading across Silicon Valley and formed the fund’s entire investment case. Early backers included Stripe co-founders Patrick and John Collison, former GitHub CEO Nat Friedman, and investor Daniel Gross.

He did not back away as losses mounted. In a July 24 letter to investors, he described the selloff as one of the best buying opportunities since early last year and invited clients to commit fresh capital beginning August 1. The commitments did not materialize.

What’s left

Situational Awareness will continue as a private investment firm. Its roughly $5 billion private stake in Anthropic was not part of the Citadel sale, and the fund retains it.

The unwind also helps explain this month’s chip market. Forced liquidation of a leveraged book that size moves prices independent of any view on the underlying businesses — and the Philadelphia Semiconductor index just posted its worst month since 2008. Some on Wall Street read Thursday’s forced selling as a clearing event rather than a verdict on the AI trade.

That distinction is the open question. The thesis Aschenbrenner wrote in 2024 may still prove correct. What failed was the leverage structure built on top of it, and the assumption that a hedge would hold when the market turned on both sides of the book at once.

JBizNews Desk | New York

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Yisroel R.

The MTA says its weekday F and M train route swap between Manhattan and Queens is already improving subway service, with early results showing fewer delays and more reliable trips for thousands of daily riders.

The permanent service change, which took effect earlier this year, shifted the F and M trains between two Manhattan-Queens corridors on weekdays. Under the new routing, the F train now runs through the 53rd Street tunnel, while the M train uses the 63rd Street tunnel during weekday daytime hours. The goal was to eliminate a busy track merge near Queens Plaza that had frequently caused delays. 

According to the MTA, the change has led to smoother train operations and more consistent service on the E, F, M and R lines. Transit officials say trains are spending less time waiting for one another at track crossings, helping reduce congestion and improve on-time performance for riders traveling between Queens and Manhattan. 

The agency acknowledged that some riders have had to adjust to different stations or train frequencies, particularly along the 63rd Street corridor. However, officials say the overall benefits of the redesign outweigh the inconvenience, pointing to improved reliability across one of the subway system’s busiest corridors. 

The MTA says it will continue monitoring the new service pattern and rider feedback as it evaluates the long-term impact of the change. Officials say the redesign is part of a broader effort to improve subway reliability by reducing operational bottlenecks throughout the system.

A 30-year-old Florida man has been arrested after allegedly throwing a brick through the window of a Chabad shul in Sarasota in what authorities are investigating as a hate crime.

Police identified the suspect as Brayton Laschinger, who is accused of targeting the Jewish community center during the early morning hours of July 29, causing more than $5,000 in damage.

According to investigators, surveillance footage and information provided by the suspect’s roommate quickly led detectives to identify and arrest Laschinger. During questioning, he allegedly admitted to the attack, telling investigators he had been influenced by content he viewed on social media shortly beforehand.

Police said Laschinger also acknowledged that he deliberately targeted the building because it was a Jewish place of worship.

He has been charged with criminal mischief involving damage to religious property, with prosecutors treating the case as a hate crime because of the alleged antisemitic motive.

The incident comes amid continued concerns over rising antisemitism in the United States, where Jewish institutions have faced an increase in threats and attacks in recent years. Florida has also seen several other antisemitic incidents, including a 2025 arson attack targeting a Chabad center in Punta Gorda.

(YWN World Headquarters – NYC)

Britain has begun manufacturing the first Eurofighter Typhoon fighter jets for Turkey under a multibillion-euro defense agreement signed in October 2025, marking a major step forward in one of Ankara’s largest military procurement programs.

According to BAE Systems, production is already underway at facilities in the United Kingdom and other partner nations, with the first aircraft scheduled for delivery in 2030.

Turkey has ordered 20 Eurofighter Typhoons in the advanced Tranche 4 configuration. Deliveries are expected to take place in three phases: six aircraft in 2030, eight in 2031, and the remaining six in 2032.

The deal, valued at more than €6 billion, will make Turkey the tenth operator of the European-built fighter jet, joining Britain, Germany, Italy, Spain, Austria, Kuwait, Oman, Qatar, and Saudi Arabia.

According to Reuters, the agreement also includes a weapons package featuring long-range Meteor air-to-air missiles and Brimstone precision-guided air-to-ground missiles, with weapons integration to be carried out by MBDA.

In March 2026, BAE Systems also secured a separate contract from the British government to provide Turkey with training systems, simulators, spare parts, electronic warfare equipment, and long-term technical support. The program includes training for 10 Turkish instructor pilots and approximately 100 maintenance personnel by the Royal Air Force.

BAE Systems said the agreement strengthens defense cooperation between Britain and Turkey while supporting the Eurofighter program, which employs more than 20,000 people in the U.K. after concerns last year that production lines could slow due to a lack of new orders.

(YWN World Headquarters – NYC)

Israeli Prime Minister Binyomin Netanyahu has reportedly made it clear that the legislation suspending the arrest of bnei yeshiva who have not reported for military service will not return in the next government, saying the measure failed to accomplish its intended purpose. Stressing that a new approach will be taken after the elections, Netanyahu stated, “Whoever does not study Torah will enlist – or go to prison.”

Speaking during a private discussion, Netanyahu said the temporary law halting the arrests of yeshiva bochurim who had not complied with draft orders did not produce the increase in Chareidi enlistment that the government had hoped to see. According to him, the arrangement has run its course and will not be reinstated.

According to a Kan News report, Netanyahu explained that the legislation—approved during the coalition’s intensive legislative push—was designed as a short-term measure to “lower the flames and increase the number of haredi recruits.” He acknowledged, however, that the initiative ultimately failed to deliver the desired results.

Netanyahu went on to say that once the elections are over, “a broad national government will be established that will immediately pass a full enlistment law that meets the IDF’s needs.” He said the new legislation would replace the current arrangement after the effort to resolve the issue through the arrest-freeze law proved unsuccessful.

The report follows earlier claims, published about two weeks ago, that Netanyahu has been attempting to create greater political distance between himself and the Chareidi parties as Israel heads toward elections. Sources close to the prime minister reportedly believe that, as the campaign intensifies, he will continue widening that gap while taking care not to undermine the overall strength of his political bloc.

The developments also come in the wake of a July 15 ruling by Israel’s Supreme Court, which issued a conditional order preventing implementation of the law that suspended the arrest of bnei yeshiva who failed to report for military service. The justices said the legislation conflicted with previous court decisions concerning equal burden-sharing, as well as the opinions of legal and professional officials who argued that such a policy encourages draft avoidance. The matter is expected to be reviewed by an expanded panel of justices at a later date.

New York City’s first attempt to collect its new pied-à-terre surcharge has produced a four-week scramble for thousands of property owners who never expected to be part of it, and a public dataset that put close to a million names and addresses into open circulation.

The Department of Finance began mailing notices in late July telling property owners they may be subject to the new non-primary residence surcharge, which applies to one- to three-family homes, condominiums and co-ops when the owner maintains a separate primary residence. The agency launched a dedicated webpage with an eligibility tool, frequently asked questions and instructions for submitting documentation. The surcharge applies to properties valued above $5 million that are not primary residences, at rates ranging from 0.8 percent to 1.3 percent of market value on a sliding scale.

The trouble started with the paperwork that accompanied it. The Department of Finance’s supplemental market value roll, published July 24, listed more than 960,000 properties — far beyond the roughly 13,000 second homes the tax was built to reach. The spreadsheet carried names, addresses and valuations for homes, condos and co-ops. Among the entries were the Flushing home of Finance Commissioner Richard Lee, whose own agency produced the list, and a Park Slope rowhouse owned by former Mayor Bill de Blasio.

Only a fraction of those listed are actually on the hook. A Finance Department spokesperson said 17,000 notices have gone out so far, against city officials’ initial estimate that the fee would apply to roughly 10,000 properties. Owners who received a letter must pay or contest it by proving the home is a primary residence, is rented to a tenant, or falls below the value threshold. That distinction was unclear for days after the spreadsheet appeared.

A tight clock and a documentation burden

Owners of one- to three-family homes and condos must prove primary residency by Aug. 21; co-op owners have until Aug. 24, according to the Finance Department’s website. Exemption applications are filed online and require uploading records such as state or federal tax returns. Jody Kriss, founder of Kriss Capital, said he expects the city will need to extend the deadline given the volume of exemptions likely to be filed, and anticipates litigation. “I was surprised the city didn’t make an effort to determine who owes the tax and who doesn’t,” Kriss said, adding that the city could have eliminated a great deal of the confusion.

For households without a standing relationship with a tax attorney, the four-week window has meant paying for one. The publicity around a list of more than 680,000 properties theoretically subject to the tax has also advertised how much property data is already public, and the value of legal privacy structures. Myles Fischer, a partner who co-leads the trusts and estates practice at Harris Beach Murtha, said middle-class and blue-collar homeowners are being pushed into sitting down with lawyers for planning advice that wealthier families secured years ago. “It’s not that you have to be a rich person to have something worth protecting,” Fischer said. “We see it from across the board.”

The unfiltered file swept in modest homes in Bayside and single-family houses in Staten Island alongside the penthouses and LLCs that drew the coverage. Fischer described homeowners on the list who consider themselves anything but wealthy: “They have a million-dollar house, but that’s probably five times their other assets.”

City Hall defends the process

Mamdani addressed the confusion at an unrelated news conference Wednesday. “I think we’re always going to do everything that we can to make sure we’re communicating clearly to New Yorkers,” he said, adding that the administration is investing the time now “to ensure that come next year, this tax is only levied on those who are non-primary residences that are worth more than $5 million.” Mamdani said the department sent informational resources as required by law so homeowners understood the tax, their options, and the appeal window if they believed it did not apply. Lee acknowledged that letters were sent using information the city had on hand, which could be dated.

Finance spokesperson Ryan Lavis said the supplemental roll was published for public inspection as state law requires, and that the agency identified potentially affected properties from that list.

Council members are not persuaded. Upper West Side Council Member Gale Brewer, who appeared on the spreadsheet herself, questioned why the city did not begin with a narrower list. “I think, in this case, it was poorly implemented,” she said, adding that she has been directing confused constituents to the Finance Department. Real estate attorney Benjamin Williams suggested the city could have supplied context rather than a bulk file. Williams said he has been inundated since the letters went out: “I wake up every day with ten more emails that people sent me between 6 and 7 a.m.”

Co-op boards face a structural problem of their own. Rebecca Poole of the Council of New York Cooperatives and Condominiums noted that entire co-op buildings are assessed as a single tax lot, unlike condos and single-family homes that receive individual bills. If one shareholder does not meet the obligation, she said, the burden shifts to the rest of the building and may require an assessment.

The onus remains on homeowners to demonstrate they are exempt. For the roughly 943,000 New Yorkers who landed on a public list but never received a letter, there is nothing to file — only a name and address now sitting in a downloadable file, and a summer spent explaining to neighbors that they do not, in fact, own a second home.

JBizNews Desk | New York

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A Dubai-based cryptocurrency exchange processed at least $4 billion as part of a sprawling Iranian money-moving network tied to gambling websites, bitcoin mining, Iran’s central bank and sanctioned entities, a Reuters investigation found.

The exchange, Shelbit, operated from a modest Dubai office and served as the financial hub for more than 2,000 Farsi-language gambling websites. Reuters reported that at least $125 million moved through Shelbit from accounts linked to Iran’s central bank, while another $20 million was connected to suspected Iranian bitcoin-mining operations.

Investigators also traced approximately $676 million from Shelbit to Binance, including roughly $540 million transferred after Dubai regulators had already taken enforcement action against the exchange. Israeli authorities have linked some wallets connected to the network to the Islamic Revolutionary Guard Corps and the terrorist group Hezbollah.

Reuters found that the gambling operation was heavily promoted by Iranian social-media influencers living lavishly overseas, while users inside Iran placed bets through websites connected to the country’s tightly controlled payment system. One former investigator described the operation as the largest Iranian illegal gambling network ever uncovered.

Dubai’s Virtual Assets Regulatory Authority ordered Shelbit to immediately stop operating and is investigating suspected violations involving money laundering and terrorism financing. The U.S. Treasury told Reuters it was aware of the allegations and was taking them seriously.

The investigation also examined Iranian businessman Pouyan Mokhtari, who promoted gambling websites and was later arrested in Dubai on allegations that he financed Iranian terrorist groups operating outside the UAE. Mokhtari denied involvement in money laundering and terrorism financing and said he had been falsely accused.

Reuters said it could not determine who ultimately controlled the broader network or where much of the money ended up.

(YWN World Headquarters – NYC)

Amazon is expanding its reach into two of the most frequent household purchases—food and medicine—using faster delivery to pull consumers away from supermarkets, pharmacies and delivery apps.

The company said Thursday that same-day prescription deliveries through Amazon Pharmacy increased nearly fivefold during the first half of 2026, while the number of new pharmacy customers more than doubled. Amazon also reported rapid growth in grocery orders as it added perishable food to its same-day delivery network.

For consumers, the shift could make prescriptions, fresh groceries and household essentials easier to obtain without visiting a store. It also gives Amazon a larger role in purchases that households make every week or every month, rather than only when ordering electronics, clothing or other merchandise.

Chief Executive Andy Jassy said Amazon Pharmacy has saved customers nearly $250 million so far through lower medication prices and discounts. The company is working to bring same-day prescription delivery to approximately 4,500 U.S. cities and towns by the end of 2026.

Prescription delivery has traditionally been slower and more complicated than ordinary online shopping because pharmacies must verify prescriptions, work with insurers and comply with state and federal rules. Amazon is attempting to reduce that friction by connecting its pharmacy operation to the fulfillment network already used for consumer packages.

Speed may be particularly valuable for patients who cannot easily travel to a pharmacy, need medication quickly or regularly refill several prescriptions. Home delivery can also reduce the risk of missed doses caused by transportation problems, long waits or limited pharmacy hours.

Still, same-day availability does not mean every medication can be delivered immediately. Timing depends on prescription approval, insurance processing, inventory, location and whether the drug requires special handling. Controlled substances and certain refrigerated medications may also face additional restrictions.

Groceries are becoming the second major part of the strategy. Amazon now offers same-day delivery of fresh food alongside millions of other products in more than 2,300 U.S. cities and towns. That allows customers to place milk, fruit, meat or vegetables in the same digital basket as paper towels, pet supplies and electronics accessories.

Perishable grocery sales through the same-day network have grown more than fortyfold from a year earlier, according to the company. In areas where the service is available, fresh food accounts for nine of the 10 most frequently ordered same-day products.

That pattern suggests consumers may be using Amazon differently. Instead of waiting until they have a large shopping list, households can increasingly place smaller orders when they run out of an item or need ingredients for a meal later that day.

Amazon is also expanding Amazon Now, its separate ultrafast service designed to deliver thousands of commonly needed products in approximately 30 minutes. The service operates through smaller neighborhood fulfillment centers stocked with groceries, over-the-counter medicine, diapers, pet food and other items that consumers often need quickly.

Prime members generally pay a delivery fee beginning at $3.99 for Amazon Now, while nonmembers pay more. Small orders may carry an additional charge, meaning the convenience can become expensive when used repeatedly for only one or two items.

Those fees create an important distinction between ordinary Prime shipping and ultrafast delivery. Consumers may receive quicker access, but the service is not necessarily the cheapest option compared with visiting a nearby store or combining purchases into a larger order.

Competition could still benefit shoppers. Walmart, DoorDash, Uber Eats, Instacart and traditional supermarket chains are all investing in faster grocery delivery, while CVS, Walgreens and other pharmacies are trying to improve prescription pickup and home delivery.

As Amazon expands, rivals may respond with lower delivery fees, faster service, broader product selection or stronger loyalty programs. Local stores could also face pressure to improve inventory systems so consumers can reliably see whether an item is available before leaving home.

The impact on neighborhood pharmacies is more complicated. Faster delivery may be attractive to consumers, but independent pharmacists often provide services that are harder to replace online, including medication counseling, emergency refills and direct communication with physicians.

Amazon’s broader retail operation gives it a major advantage because delivery costs can be spread across groceries, prescriptions and millions of other products. A driver delivering medicine can also carry household goods to nearby customers, making the route more economical than a delivery system devoted to only one category.

Households should watch more than speed as the service expands. Prescription prices can vary widely depending on insurance, discount programs and pharmacy contracts, while grocery totals may differ because of fees, minimum-order requirements and product pricing.

Amazon’s latest results show that convenience is becoming one of the company’s strongest competitive tools. The next test will be whether consumers continue using rapid delivery after accounting for fees—and whether traditional pharmacies and grocers can respond before Amazon turns occasional orders into a routine household habit.

JBizNews Desk | Seattle, Washington

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Just two weeks before the start of zman Elul, Yeshivas Ner Zerach in Moshav Otzem is facing an unprecedented crisis after Israel’s Fire and Rescue Authority issued a closure order for the campus over alleged fire safety deficiencies, throwing the yeshiva’s opening for the new zman into serious doubt.

The order has raised major concerns about whether the yeshiva will be able to welcome its incoming first-year talmidim and begin the new academic term on schedule.

Kikar HaShabbos has learned that a critical meeting is scheduled for today between yeshiva representatives and officials from the Fire and Rescue Authority in an urgent effort to reach an agreement that would postpone the closure order and allow the yeshiva to continue operating while preparing for the upcoming zman.

In response to the unfolding situation, the yeshiva’s Roshei Yeshiva, together with current talmidim and alumni, gathered on Motzoei Shabbos for a special atzeres tefillah at the kever of Rav Aharon Leib Shteinman zt”l.

During the emotional gathering, participants recited Tehillim, Avinu Malkeinu, and additional tefillos, davening that the decree be rescinded and that efforts to resolve the crisis prove successful.

Yeshivas Ner Zerach operates under the umbrella of Yeshivas Orchos Torah and is headed by Rav Yaakov Virzhbinski. The yeshiva remains hopeful that a solution can be reached within the next 24 hours that will delay the closure order and enable zman Elul to begin as planned.

“This is a genuine gezeirah,” members of the yeshiva said. “It is impossible to open a new school year and receive the incoming first-year talmidim under these circumstances. If the order takes effect, it will deal a severe blow to our ability to open zman Elul in the normal manner.”

A source within the Fire and Rescue Authority said that if a closure order was issued, it was likely because inspectors identified deficiencies that could place lives at risk.

“If a closure order was issued for the building, there are apparently deficiencies there that could endanger human life.”

Despite the seriousness of the situation, yeshiva officials remain optimistic that today’s meeting will produce an arrangement allowing the required safety issues to be addressed while the yeshiva continues functioning uninterrupted.

{Matzav.com}

A 35-year-old man was killed and nine others were injured Sunday in a serious two-vehicle crash on Route 98 in northern Israel, emergency officials said.

Magen David Adom (MDA) paramedics pronounced the man dead at the scene after finding him unconscious, without a pulse or signs of breathing, suffering from severe multi-system injuries. Nine other victims were treated and transported to Poriya Medical Center for further care.

Among the injured was a 30-year-old man listed in moderate condition with injuries to his limbs, while the remaining eight victims sustained minor injuries.

MDA paramedics Tal Tavtznik, Shlomi Boxer, and Gadi Eli said responders found one of the vehicles heavily damaged and immediately assessed the critically injured driver, but his injuries were too severe to save him.

Firefighters from the Galil-Golan station were also dispatched to the scene and used specialized hydraulic rescue equipment to extricate the victim from the wreckage. Rescue crews then searched the area for additional casualties before clearing the scene.

The circumstances surrounding the crash remain under investigation.

Baruch Dayan HaEmes…….

(YWN World Headquarters – NYC)

New regulations requiring graphic warning images on all tobacco and nicotine products went into effect in Israel Sunday, covering traditional cigarettes, e-cigarettes, rolling tobacco, hookahs, and nicotine pouches.

Under the new rules, packages must display explicit images showing the health consequences of tobacco use, with the warnings covering at least 75% of the packaging. The remaining 25% must retain the plain color scheme mandated by Israel in 2020, which removed brand logos and attractive packaging designs.

The Health Ministry said the images were carefully designed to balance graphic impact with Israel’s cultural and religious sensitivities, while effectively communicating the dangers of smoking and nicotine use.

Companies and importers distributing products that do not comply with the new packaging requirements could face criminal charges and significant fines, reaching up to NIS 452,000 ($123,000) for corporations and NIS 226,000 ($61,400) for private businesses.

Israel signed the World Health Organization’s Framework Convention on Tobacco Control in 2003 and ratified it in 2005. With the new regulations, Israel joins approximately 140 countries that have implemented full graphic photo warnings on tobacco packaging.

“The image creates an immediate connection between health damage and a product that claims over 1,000 lives every month in Israel,” said Moshe Bar-Haim, CEO of the Israel Cancer Association.

(YWN World Headquarters – NYC)

Sen. Bernie Sanders (I-Vt.) is throwing his support behind California’s proposed billionaire wealth tax, claiming Meta CEO Mark Zuckerberg could be forced to pay roughly $10.5 billion if voters approve the measure this November—and arguing the money could be used to protect healthcare coverage for millions of low-income residents.

The ballot initiative would impose a one-time 5 percent tax on individuals whose net worth exceeds $1 billion, provided they were California residents as of Jan. 1, 2026. Backers of the proposal estimate it could generate approximately $100 billion, which they say would help offset reductions in federal Medicaid and food assistance funding.

Promoting the measure on X, Sanders singled out Zuckerberg as one of its most prominent potential targets.

“If voters in California approve the 5% billionaire wealth tax in November, Mark Zuckerberg would owe $10.5 billion in taxes & healthcare would be saved for 3 million low-income people.”

Sanders then mocked the Meta founder’s remaining fortune.

“Poor Mr. Zuckerberg would only have $200 billion left to feed his family. How will he survive?”

The Vermont senator has long argued that imposing higher taxes on the nation’s wealthiest individuals could finance major government programs while still leaving billionaires with enormous fortunes. Earlier this year, Sanders challenged Amazon founder Jeff Bezos to publicly debate his proposed 5 percent billionaire tax, arguing the revenue could be used to expand Medicare, provide universal childcare, increase starting salaries for teachers, and deliver $12,000 to working families of four—even after Bezos paid the tax.

California’s proposed wealth tax has sparked fierce opposition from both business leaders and elected officials.

Google co-founder Sergey Brin has reportedly contributed $57 million to a campaign opposing the initiative, while Palantir Chairman Peter Thiel has also donated to the effort. Venture capitalist Chamath Palihapitiya has warned that such a tax could eventually be expanded beyond billionaires, and California Gov. Gavin Newsom has cautioned that it could encourage wealthy residents to leave the state.

Shortly after Sanders’ post gained traction, X users added a Community Note pointing out that Zuckerberg reportedly relocated to Florida after California lawmakers began pursuing the billionaire tax proposal. If that timeline is accurate, the note suggested, Zuckerberg may not actually be subject to the tax even if California voters approve it. The Community Note cited reports from IFC Review, Architectural Digest, and Fox Business.

Skeptics of wealth taxes have also questioned whether such measures can generate sustained revenue over time. Earlier this year, podcast host Joe Rogan and financial commentator Caleb Hammer argued that while taxes targeting billionaires might produce a large initial windfall, many wealthy individuals could eventually move themselves or their assets elsewhere, significantly reducing the long-term revenue such policies are expected to generate.

{Matzav.com}

Berkshire Hathaway’s Class B shares closed Tuesday at $512.37, their strongest finish since November 28, when they ended the session at $513.81. The Class A shares closed the same day at $768,010, also the highest close since late November, when they finished at $770,100. The move capped a roughly 3% single-day gain and left the conglomerate at an eight-month high.

Both classes gave back a little ground by week’s end. The B shares finished Friday at $511.54, about 5.2% below their record close of $539.80 set on May 2, 2025 — the day before Warren Buffett told shareholders he would hand over the chief executive role at the end of that year. The A shares closed Friday at $766,600, roughly 5.3% under their all-time closing high of $809,350.

The rally arrives as Berkshire narrows a gap with the broader market that looked far wider only weeks ago. The Omaha conglomerate still trails the S&P 500 by about 7.6 percentage points for 2026, but that deficit stood at 17.5 percentage points two months ago, meaning more than half of the shortfall has been erased since late spring. Berkshire also continues to lag listed comparables in two of its core businesses: Union Pacific, the closest public proxy for the BNSF railroad, has gained roughly 30% this year, and property-casualty insurer Chubb has posted a substantially larger advance than Berkshire as well.

Tuesday’s jump followed a price-target increase from UBS analyst Brian Meredith, who kept a buy rating and lifted his Class B target to $585 from $570 and his Class A target to $877,848 from $854,596. Meredith raised his 2026 and 2027 operating earnings estimates by 1.3% and 0.8%, to $21.05 and $21.32 per B share, pointing to better results at BNSF and lighter catastrophe losses during the second quarter. He pegs Berkshire’s intrinsic value at close to $800,000 per Class A share, roughly 5% above where the stock has been trading, and describes the shares as sitting at about an 8% discount to that figure.

The bigger driver behind the estimate revisions was buybacks. Meredith built his forecasts around assumed repurchases of $8.6 billion, up sharply from the $1.5 billion he had previously modeled, after a review of Buffett’s July ownership filing suggested Berkshire had been buying its own stock aggressively during the April–June stretch. Barron’s analysis of the share-count decline — roughly 11,000 Class A equivalent shares between mid-April and mid-July — produced an estimated range of $5 billion to $11 billion, with about $8.5 billion the most frequently cited midpoint. None of it is confirmed. The company’s own tally will not be public until the quarterly report lands.

That would mark a decisive shift under chief executive Greg Abel, who took over from Buffett at the start of the year. Berkshire repurchased only about $235 million of stock in the first quarter, an almost invisible sum for a company with a market capitalization above $1 trillion and its first repurchase activity after seven straight quarters of none. Abel has also been deploying capital elsewhere: the Taylor Morrison Home acquisition closed during the second quarter, and Berkshire announced on June 1 that it had agreed to buy $10 billion in Alphabet shares directly from the company to help fund AI buildout. Net cash and Treasury bills stood at roughly $380 billion at the end of March.

The equity portfolio has done its share of the work. Apple, still Berkshire’s largest holding at more than $70 billion, is up 13.6% year to date. Coca-Cola, the third-largest position at about $35 billion, has climbed 25% and raised its full-year outlook after beating expectations last week. Bank of America, the fourth-largest stake at nearly $32 billion, has gained 12.6%. The overall marketable equity book is approaching $360 billion.

There are offsets analysts are watching. UBS expects GEICO’s underwriting margins to keep compressing as the insurer chases growth through flat-to-lower rates and heavier advertising, forecasting a combined ratio near 88.3% against 83.5% a year earlier. Reinsurance premiums are seen rising about 5%, helped by a new quota-share arrangement with Tokio Marine, while pricing competition weighs on growth elsewhere in the insurance group. BNSF faces a modest fuel-cost headwind this quarter before that reverses.

Second-quarter results are expected Saturday, August 8, and will be the first full accounting of Abel’s capital allocation across an entire quarter in the chair. Consensus estimates put revenue near $95.3 billion and earnings around $5.24 per B share. The buyback line, more than the earnings line, is what most holders will turn to first.

JBizNews Desk | Omaha

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

The following is an ‘Ask The Chief’ question submitted to TLS, and the Chief’s response. Email your questions for the Chief to [email protected].

Question:

Hello Chief,

Thank you for taking my question.

In construction areas there is typically a police officer at the site. Can the officer direct traffic as needed, while at those locations.

Thank you

**
The Chief’s response:**

Yes, that is why they are there, for safety reasons as well as traffic.

————-

Have a question for the Chief? Email it to [email protected]

Have a question for the Mayor? Email it to [email protected]

A wave of cyberattacks has targeted municipal water systems across at least seven states, with U.S. intelligence agencies assessing that Iran was highly likely responsible, The New York Times reported. Officials said the full scope of the intrusions remains unknown and could continue to grow.

The attacks affected systems in Minnesota and Michigan, while officials declined to identify all of the states involved. Michigan confirmed that nine municipal water systems reported issues, while roughly three dozen municipalities in Minnesota were targeted earlier in the week.

Authorities stressed that there was no indication that drinking water had become unsafe. A Michigan spokesperson said all affected systems continued operating safely and that there were no known public-health consequences. Experts said the attacks appeared focused primarily on industrial-control systems, but warned that more advanced intrusions could potentially disrupt water treatment or monitoring equipment.

Federal officials said Iran remains the leading suspect, although the assessment is still preliminary and investigators have not established definitive forensic proof. Cybersecurity specialists said Iranian hackers have increasingly targeted vulnerable American infrastructure, particularly smaller water systems with limited cybersecurity resources.

President Donald Trump publicly rejected claims of Iranian involvement and blamed Minnesota. “I think Minnesota is behind it,” Trump said Friday. “I don’t think there was an Iranian cyberattack.” Minnesota Gov. Tim Walz dismissed the accusation, warning that the incidents demonstrated what modern warfare can look like.

The attacks have prompted federal and state officials to urge water utilities to strengthen passwords, install software updates and reinforce defenses against further intrusions.

(YWN World Headquarters – NYC)

Sen. John Fetterman (D-Pa.) is putting an end to speculation that he may leave the Democratic Party, insisting he remains a Democrat despite increasingly vocal disagreements with elements of his own party—including what he described as calls for “full-on communism.”

In an interview with The New York Times, Fetterman criticized members of the Democratic Party whom he said support eliminating the nation’s borders, prisons, the presidency, and even the U.S. Senate, arguing that such positions amount to embracing radical left-wing ideology.

Responding to persistent rumors that he could eventually switch parties, Fetterman flatly rejected the idea and joked that if he ever did reconsider, he would personally notify the newspaper first.

“Never,” Fetterman told the outlet. “I’m not being cute. I vote 90-something percent with Democrats.”

The Times noted that questions about Fetterman’s political future have intensified ahead of the midterm elections, when control of the Senate could once again come down to a razor-thin margin.

The newspaper pointed to Fetterman’s increasingly independent streak, noting that the Pennsylvania senator has frequently broken with fellow Democrats, skipped party events, forged close relationships with Republican senators, and even created a joint fundraising committee with Republican Sen. Dave McCormick of Pennsylvania. The Times also highlighted Fetterman’s unconventional style, including his well-known preference for hoodies and shorts over traditional business attire.

Senate Majority Leader John Thune (R-S.D.) acknowledged that many Republicans would gladly welcome Fetterman into the GOP, though he emphasized that the decision rests entirely with the Pennsylvania senator.

“I have had conversations with him in the past, as have many of my colleagues, about the challenges he faces in his caucus,” Thune stated. “There are many of us who I think would welcome the opportunity to have him join the Republican conference. But, you know, ultimately that’s a decision that’s left up to him.”

Fetterman recently delivered the same message during an appearance on NBC News’ Meet the Press NOW, where he dismissed suggestions that he could become a Republican.

He also acknowledged that he parts ways with fellow Democrats on several issues, particularly Israel, but said his positions on other matters make it clear that he would not fit comfortably within the Republican Party.

According to Fetterman, Republicans are unlikely to welcome “a pro-choice, pro-gay, trans communities, federal union” lawmaker into their conference.

{Matzav.com}

photos: D. H. Kerem

On Clifton Avenue.

https://thelakewoodscoop.com/wp-content/uploads/2026/07/wa-1785347445910-4ntxxb.mp4

Dr. Anthony Fauci has nearly doubled his personal fortune since retiring from the federal government at the end of 2022, earning an estimated $12.5 million through book deals, speaking engagements, academic appointments, awards, royalties, and a record-setting government pension, according to a New York Post analysis.

Financial disclosure records obtained by the government watchdog group Open The Books show that Fauci earned approximately $3.5 million during his first year after leaving public service. The disclosures span 141 pages and detail the former government official’s post-retirement income.

Since then, Fauci’s earnings have continued to climb through a combination of lucrative speaking fees, publishing deals, academic work, financial awards, and what the report describes as a taxpayer-funded retirement package worth roughly $350,000 annually.

Fauci retired from government service in December 2022 after serving as director of the National Institute of Allergy and Infectious Diseases (NIAID) for 38 years. At the time of his departure, he was the highest-paid federal employee in the United States, earning an annual salary of $480,654—roughly $80,000 more than the President.

Public records obtained by Minnesota’s Alpha News revealed that Fauci received $75,000 for a speech delivered at the University of Minnesota in April. Industry estimates place his standard speaking fee between $50,000 and $100,000 per appearance. Since 2024, he has reportedly participated in at least 18 public speaking engagements, generating an estimated minimum of $900,000.

His next scheduled appearance is set for September in Wilton Manors, Florida, where tickets to hear him speak are selling for $160 each.

Reflecting on his post-government life in his 2024 memoir, On Call: A Doctor’s Journey in Public Service, Fauci wrote that he has remained active on the lecture circuit.

“In the year since I stepped down as NIAID director, I have had the opportunity to lecture and engage in fireside chats and moderated discussions throughout the country,” Fauci wrote.

Publishing industry sources previously told The New York Post that Penguin Random House’s Viking imprint paid Fauci approximately $5 million for the memoir.

Explaining why he chose to write the book, Fauci said he wanted to share what he had learned throughout his decades in public service.

“When I decided to step down from my position as director of NIAID, I asked myself what I could do over the next few years while I am still filled with passion and energy and blessed with good health. The answer came to me quickly and clearly: to share my experiences with the world and particularly the younger generation,” he wrote in the tome.

Fauci also said that desire ultimately led him to accept a faculty position at Georgetown University. While the average professor at the university earns roughly $233,000 annually, the report noted that Fauci likely commands a significantly higher salary because of his multiple academic roles and public profile.

The Post estimated that Fauci has earned at least $750,000 through his work at Georgetown. In addition, universities and medical organizations have honored him with several prestigious awards carrying substantial cash prizes, including Columbia University’s $50,000 Calderone Prize and the National Academy of Medicine’s $40,000 Lienhard Prize.

Fauci also continues to receive royalties from a McGraw-Hill medical textbook he has edited since the 1980s. Financial disclosures list those annual payments as somewhere between $100,000 and $1 million, although the exact amount is not specified.

His government pension is estimated at more than $350,000 per year—the largest federal pension on record. Since retiring, that pension alone has reportedly provided him with approximately $1.5 million.

Taken together, the Post estimates Fauci has earned at least $12.5 million since leaving government, boosting his estimated net worth to roughly $27.5 million.

Financial disclosures indicate Fauci’s wealth has risen dramatically over the past several years. Before the COVID-19 pandemic, his reported net worth stood at approximately $7.6 million in 2019. By 2023, it had climbed to about $15 million, during a period when taxpayers were also funding his transportation and security.

Lawrence Gostin, a Georgetown University professor and longtime friend of Fauci’s, said the former government health official remains deeply committed to teaching while living a quieter life in retirement.

“He is kind and generous with his time for students,” Gostin told The Post.

Gostin also described Fauci as “proud of his Catholic, Italian heritage” and noted that he is “still super fit but walks rather than runs,” now that he is 85 years old.

Fauci and his wife, Christine Grady, have become increasingly visible together since his retirement and are frequently seen attending Georgetown University events and walking near their $2.4 million home in Washington, D.C.

Fauci, who did not respond to The Post’s request for comment, wrote in his memoir that he deliberately avoided having an extravagant retirement celebration when he left the NIH.

“I opted instead for a no-bells-and-whistles, carrots-and-hummus affair on the top floor of a campus building,” he wrote, adding that even the “affectionate remarks” from colleagues were carefully timed.

“I insisted that no one go on for longer than three minutes,” he claimed.

Not everyone shares that modest assessment of Fauci’s personality. Dr. Carole Lieberman, who regularly invited him to appear on Lifetime Medical Television during the 1990s, said she found him eager for media attention.

“He always said yes [to coming on],” Lieberman told The Post. “Every single time I called him he said yes, but it wasn’t really my talent for booking him, it was his narcissism.”

Iran used the Gaza ceasefire to quietly prepare for a wider regional conflict by coordinating with its proxy groups across the Middle East, according to a report published by The New York Times.

The report says senior commanders from the IRGC’s Quds Force held a series of meetings with leaders of Hezbollah, the Houthis, and Iran-backed Shiite militias in Iraq to plan a coordinated response if the United States resumed military strikes against Iran. Quds Force personnel also reportedly remained active on the ground, assisting allied militias and helping Hezbollah rebuild its depleted ranks.

Mehdi Mohammadi, a senior adviser to Iran’s negotiating team, said on social media that the Revolutionary Guards were establishing “new conditions and platforms for war” and that “a new axis of resistance” was emerging with additional regional actors.

Iranian analyst Mehdi Rahmati likened the strategy to a chess match, telling the newspaper that Iran’s proxy groups are “chess pieces” that must be deployed carefully at the right time and place to achieve the greatest effect.

According to the report, while Tehran coordinates the activities of Hezbollah, the Houthis, and Iraqi Shiite militias, the groups maintain varying levels of autonomy and are not under Iran’s complete control. Analysts said they nonetheless share the common objective of increasing pressure on the United States and Israel while expanding Iran’s influence throughout the region.

(YWN World Headquarters – NYC)

Nearly one-third of Democrats now identify as democratic socialists, according to a new CNN poll, highlighting the growing influence of the party’s far-left wing as progressive activists continue pushing for new leadership and a more liberal agenda.

The survey, conducted by SSRS for CNN, found that although democratic socialists remain a minority within the Democratic Party, they make up one of its most energized and committed voting blocs. They are also significantly more likely than other Democrats to support major changes in the party’s leadership and policy direction.

The findings come on the heels of several high-profile victories by progressive candidates, including New York City Mayor Zohran Mamdani and other democratic socialist candidates who recently won three Democratic congressional primaries in New York.

According to the poll, Democrats who identify as democratic socialists tend to be younger than 45, are more likely to be white, and generally report annual incomes below $100,000.

The survey also found that democratic socialists are especially enthusiastic about participating in this year’s midterm elections.

Among registered voters, 66 percent of self-identified democratic socialists said they were extremely motivated to vote, compared with 57 percent of other Democratic voters.

On internal party issues, democratic socialists were more likely than other Democrats to favor replacing the party’s current leadership, nominating younger candidates, and shifting the Democratic Party even further to the left on major policy questions.

Despite the movement’s growing influence within Democratic politics, another recent survey suggests that many Americans still do not fully understand what democratic socialism represents.

A Reuters/Ipsos poll released this week found that 47 percent of respondents said they do not understand democratic socialist policies, while 49 percent said they do.

That same survey found mixed views of the movement, with 27 percent saying democratic socialists have at least some worthwhile ideas, while 51 percent said the movement offers few, if any, beneficial beliefs.

Republicans have increasingly sought to make the rise of democratic socialism a central issue ahead of the midterm elections, arguing that its policies closely resemble communism.

President Donald Trump has repeatedly warned that communism represents one of the greatest dangers facing the United States.

Speaking during a campaign-style event in Michigan ahead of the state’s primary elections, Trump described communism as “the greatest threat to our country in history.”

“We can’t let them get their claws into this incredible — they call it an experiment,” Trump said.

The CNN survey questioned 1,225 adults across the United States by telephone and online between July 23 and July 27. The poll carries a margin of error of plus or minus 3.2 percentage points.

{Matzav.com}

A significant development has reportedly emerged in Gaza, with Saudi-owned Al Arabiya reporting that the Palestinian Islamic Jihad has agreed to disarm as part of ongoing negotiations over the future of the Gaza Strip.

The reported agreement comes amid talks between Israel and Hamas on advancing to the next phase of President Trump’s proposed framework for ending the war. According to the report, the move is part of broader efforts to establish new political and security arrangements in Gaza.

Separately, Palestinian sources told i24NEWS that Hamas’ leadership abroad has issued an internal directive ordering the group’s leadership in Gaza to prepare for the transfer of government assets to a technocratic committee expected to enter the Strip in the coming days, in line with a roadmap recently finalized in Cairo.

The developments follow a report by Israel’s Kan 11 that implementation of a 15-point framework aimed at ending the war could begin within days. Under the reported plan, Hamas would halt all military activity during the first two weeks, followed by a phased disarmament process. In parallel, Israel would cease military operations under the terms of the agreement reached last October.

According to the reports, Hamas has conveyed its acceptance of the framework to the United States, Egypt, Qatar, and Turkey.

(YWN World Headquarters – NYC)

Capital One has told a federal court that its 2021 decision to cut ties with the Trump Organization was driven by its anti-money laundering team, not by politics — a disclosure that shifts the terms of one of the highest-profile debanking fights in the American financial system.

In a filing submitted late Friday, the McLean, Virginia-based lender said it closed accounts belonging to President Donald Trump’s real estate company in 2021 for legitimate reasons following an internal review by its anti-money laundering unit, and asked a judge to dismiss the Trump Organization’s lawsuit accusing it of illegally debanking the company for political reasons after the January 6, 2021 assault on the Capitol. The filing marks the first time a bank has formally connected money-laundering concerns to the president’s family business.

Capital One said the closures covered more than 300 Trump-affiliated accounts and followed a months-long examination by specialists, carried out under the bank’s internal policies and federal regulatory guidance. According to the filing, transaction patterns identified during that review fell into categories flagged by federal banking guidance. The bank has been careful about the line it is drawing: Capital One has never accused the Trump Organization of illegal money laundering, and the filing frames the closures as a compliance judgment rather than an allegation of wrongdoing.

That distinction is the heart of the legal dispute. Capital One notified the Trump Organization in March 2021 that it intended to close the accounts. The company and Eric Trump, the president’s son, sued in a Florida federal court in March 2025, arguing the closures stemmed from the bank’s political posture and a desire to profit from the mood that followed the Capitol riot. The federal court in Miami has already thrown out two versions of the complaint, each time allowing the plaintiffs to refile, and Capital One argues the latest amended version filed in July repeats the same defects as the earlier two. The bank also called the allegations of political pretext misguided and said they rest on selectively chosen excerpts stripped of the surrounding record.

For the banking industry, the case matters well beyond one customer. Compliance officers at large institutions routinely close accounts they judge to carry elevated risk, and they generally do so without explaining themselves — a practice regulators have long encouraged and that leaves the customer with no clear account of what happened. Debanking litigation forces those decisions into open court, where a bank must either defend the compliance rationale on the record or leave the political explanation unrebutted. Capital One has chosen the first path, and in doing so has put its own AML process on display.

The political context has hardened considerably since the closures. Trump signed an executive order in August 2025 barring financial institutions from denying services to customers on political or religious grounds. In January, the president filed a separate suit against JPMorgan Chase making similar debanking claims. JPMorgan has acknowledged in its own court filing that it informed the plaintiffs in February 2021 that certain commercial and private bank accounts would be closed. The president’s history with Capital One runs further back: he sued the bank alongside Deutsche Bank in 2019 in an effort to block them from turning over financial records to congressional investigators.

Neither side offered public comment. The Trump Organization and Capital One did not immediately respond to requests for comment.

The stakes for Capital One extend past this docket. The bank spent much of the past two years absorbing Discover Financial and building out a card and deposit franchise that now competes directly with the largest institutions in the country, and it operates under the same federal supervision that produced the guidance it now cites in its defense. Winning dismissal on compliance grounds would set a useful marker for lenders facing similar suits: that documented AML process, properly papered, is a defensible answer to a political-discrimination claim.

Losing, or being forced into discovery over how the review was conducted, would point the other direction — toward a environment in which every closure decision carries litigation risk and banks must weigh compliance instincts against the possibility of explaining themselves to a jury. Smaller institutions, which lack the legal budgets of a top-ten lender, would feel that shift first.

The Miami court has not ruled on the dismissal motion. Given its handling of the first two complaints, another round of amendment remains possible.

JBizNews Desk | New York

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

President Isaac Herzog praised President Donald Trump for his role in securing the release of Israeli hostages held by Hamas, sharply criticized the former chief prosecutor of the International Criminal Court, and condemned New York City Mayor Zohran Mamdani as a promoter of antisemitic rhetoric during a wide-ranging interview with Fox News.

Addressing the dismissal of former ICC Chief Prosecutor Karim Khan following allegations of criminal misconduct against him, Herzog claimed Khan sought arrest warrants against Israeli leaders to divert attention from the accusations he was facing.

“Karim Khan was supposed to come to Israel to meet with experts and senior leaders so he could better understand the reality on the ground and allow us to present him with the truth. Among others, he was scheduled to meet with me. On the very day he was supposed to board his flight, while he and his team were on their way to the airport, he suddenly filed requests for arrest warrants against Prime Minister Netanyahu, former Defense Minister Gallant, and other senior officials. Now, in hindsight, we know clearly that this was done to divert attention from the allegations against him.”

Herzog said Khan’s removal from office was a step toward justice and argued that the ICC should now go even further by abandoning the case against Israel altogether.

“When it comes to justice, words must be followed by action. The International Criminal Court in The Hague should dismiss the case entirely and not fall into the traps of lies and hatred that Karim Khan presented in order to cover for himself.”

Turning to New York City Mayor Zohran Mamdani, Herzog accused him of rejecting the Jewish people’s right to national self-determination and said his rhetoric endangers Jewish residents.

“Mamdani does not respect the right of the Jewish people to self-determination and to have a state of their own. He represents hatred and antisemitic rhetoric. He must understand that he is endangering his own citizens—their security, their well-being, and their lives.”

Herzog pointed to the recent stabbing of an Orthodox Jew in New York as evidence of the dangerous climate created by anti-Israel and antisemitic rhetoric.

“We saw the stabbing that took place just a few days ago on a street in New York simply because someone was dressed as an Orthodox Jew.”

He expressed confidence that New York’s identity would endure despite Mamdani’s leadership.

“New York will continue to be what it is long after Mamdani, and I hope he does not cause irreversible damage.”

Discussing Iran, Herzog described the Islamic Republic as a longstanding global threat whose ambitions extend well beyond Israel and the Middle East.

“They take the food and money of their own people and invest it in terrorism around the world. That is a fact. When people ask why a country like this seeks to spread so much terror across the globe, the answer is ideology. This ideology accepts no other religion—not even moderate Islam. That is why it is so dangerous.”

The president said Iran’s ballistic missile program, its activities around the Strait of Hormuz, its nuclear ambitions, its repression of its own citizens, and its sponsorship of regional terrorist proxies all demonstrate the danger the regime poses to international peace and stability.

Looking ahead to the future of Gaza, Herzog said the next phase could become a major turning point if Hamas is stripped of its military capabilities.

“This could be a significant breakthrough if it happens. We must remember that President Trump’s 20-point plan was approved by the United Nations Security Council, and the next stage is the disarmament of Hamas.”

He stressed that any lasting solution requires Hamas to relinquish control of Gaza.

“One thing must be absolutely clear—Hamas cannot govern Gaza and cannot continue turning it into a launching pad for terror and hatred. The people of Gaza deserve a better future, but to achieve that they will have to take their destiny into their own hands, disarm this terrible terrorist organization, and move toward a better future for the people of Gaza and the people of Israel.”

Herzog also highlighted the close relationship between Israel and the United States, praising President Trump’s support for the Jewish state.

He said Trump’s backing has been demonstrated through both his statements and his actions, describing the president’s relationship with Israel as one of extraordinary friendship and noting that the two countries continue to see eye to eye on most major issues.

Herzog also credited Trump with playing a pivotal role in securing the release of the 255 hostages who were held by Hamas following the Oct. 7, 2023, terrorist massacre. While acknowledging that many individuals contributed to the effort, he said Trump deserved significant recognition for driving the negotiations.

Trump, Herzog said, “pushed and negotiated brilliantly” to bring the hostages home.

Media commentator and strategist Shlomo Filber commented Sunday morning on U.S. President Donald Trump’s announcement that he had canceled a large-scale attack on Iran.

“No one really understands how Trump’s mind works when it comes to decision-making,” Filber wrote.

“What can be observed and learned so far: Trump understands that the Iranians are playing him. He also understands that the nuclear threat remains and that dealing with it is still his responsibility.

“Trump learned—belatedly, on the eve of Operation Rising Lion and afterward—that his ‘allies’ in the Gulf are a broken reed—Qatar, Bahrain, and Saudi Arabia. They neither helped nor were willing to help. Instead, they fear for their own infrastructure and are pressuring the United States to reach an agreement and protect them.

“Hormuz, even more than the nuclear issue, has become Trump’s test of whether he is the strong leader and the world’s policeman. The Iranians know this and are exploiting it.

“Trust and support for Trump in Israel have dropped dramatically. Israelis understand that the job of removing Iran’s nuclear threat remains unfinished and that, when the time comes, we will have to complete it ourselves.

“It is more likely that Trump will continue juggling between restoring his damaged prestige, reopening the Strait of Hormuz, and keeping oil prices low until the midterm elections in November.

“And as I said, no one really understands how Trump’s mind works in the end.”

(YWN Israel Desk—Jerusalem)

British Airways parent International Airlines Group cut its 2026 flight-capacity outlook Friday, signaling fewer seats than previously planned as elevated fuel costs and Middle East disruptions reshape international travel schedules.

IAG now expects passenger capacity to remain roughly flat compared with 2025, reversing an earlier forecast for growth of nearly 3%. Capacity measures how many seats an airline offers and how far those seats are flown, making the reduction an important indicator of how much travel inventory consumers can expect.

Fewer seats do not automatically mean fewer flights on every route. Airlines can reduce capacity by suspending destinations, flying smaller aircraft, trimming frequencies or shifting planes toward markets where demand and ticket prices are stronger.

For travelers, however, the result can be similar: less competition for available seats and greater risk of higher fares during holidays, school breaks and other heavily traveled periods.

IAG owns British Airways, Iberia, Aer Lingus, Vueling and LEVEL, giving the decision potential consequences across major routes connecting the United States, Britain, Spain, Ireland and other European markets.

Middle East instability has forced airlines to cancel flights, avoid certain airspace and operate longer routes. Those changes can increase fuel consumption, crew expenses and aircraft time even when the passenger’s origin and destination are outside the conflict zone.

Fuel and emissions costs reached approximately €2.22 billion during the second quarter, nearly 23% higher than a year earlier. Across the first half, those expenses rose to about €3.96 billion as higher jet-fuel prices outweighed some protection from hedging and favorable currency movements.

IAG now expects its full-year fuel bill to total between €8.3 billion and €8.6 billion, depending on oil prices and market conditions during the remainder of the year.

Management said it believes approximately 60% of the added fuel burden can be recovered through a combination of higher ticket revenue and lower operating costs. That does not mean fares will rise by the same percentage, but it shows that passengers may ultimately absorb part of the expense.

Airlines use several methods to pass through higher costs without announcing a broad fare increase. They can reduce the number of discounted seats, charge more for last-minute bookings, raise prices on heavily traveled routes or increase revenue from seat assignments, checked bags and other optional services.

Premium travelers may provide IAG with more pricing power. British Airways reported particularly strong demand in premium cabins and on several long-haul routes, including transatlantic service and flights to parts of Asia.

Some passengers traveling between Europe and Asia have also shifted away from Gulf connecting hubs because of regional disruptions. That has benefited British Airways on selected routes through London, even as the broader conflict raised costs and forced changes elsewhere in the network.

Second-quarter group revenue edged up 0.2% to approximately €8.88 billion, but operating profit before exceptional items fell 16% to €1.41 billion. Net profit declined to €732 million from €1.13 billion a year earlier.

Those results show the pressure created when an airline cannot quickly pass every added expense to travelers. Fuel costs can rise within days, while many tickets were sold months earlier at prices based on lower operating assumptions.

Airlines also face limits on how much they can raise fares before passengers postpone trips, choose a competing carrier or select a less convenient itinerary. The ability to recover costs therefore varies widely by route and travel period.

Travelers with flexible schedules may still find lower fares by avoiding peak departure times, comparing nearby airports and checking itineraries across several IAG carriers. A British Airways flight may be priced differently from an Iberia or Aer Lingus itinerary even when the overall trip is similar.

Booking early can become more valuable when capacity is restricted, particularly for families requiring several seats on the same flight. Waiting for a last-minute discount carries greater risk when airlines are offering fewer seats than previously expected.

Consumers should also compare the complete trip price rather than the base fare alone. Baggage charges, seat-selection fees, airport transfers and overnight connections can erase apparent savings on a cheaper itinerary.

IAG said it remained approximately 57% booked for the rest of 2026, providing substantial visibility into demand. Strong advance bookings could make the group less willing to discount remaining seats if capacity stays constrained.

The next major test will come during the late-summer and year-end travel periods. If fuel prices remain elevated while airlines continue limiting schedules, consumers may encounter a market with fewer bargain fares even where overall travel demand begins to soften.

JBizNews Desk | London, United Kingdom

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Senior United Torah Judaism MK Uri Maklev cast doubt on Israeli Prime Minister Binyamin Netanyahu’s long-term commitment to the Chareidi parties, suggesting that after the next election he could instead try to build a coalition with Gadi Eisenkot. Maklev stressed that the Chareidi parties will act independently and do whatever best serves the Torah world.

Speaking in an interview with Kol Barama Radio, Maklev said he would not be surprised if Netanyahu’s first move after the election is to seek a governing coalition with Yashar chairman Gadi Eisenkot.

“I wouldn’t be surprised if Netanyahu’s first attempt is to form a government with [Yashar! chairman Gadi] Eisenkot,” Maklev said.

Maklev argued that Netanyahu’s primary concern is his own political future rather than loyalty to any ideological alliance, emphasizing that United Torah Judaism will make its own decisions based on the interests of the Chareidi community.

“Netanyahu first and foremost looks after Netanyahu – he is not committed to the bloc. As far as we’re concerned, we’ll do what’s best for us. We are a bloc of our own,” he added.

Addressing the emergence of new Chareidi political parties attempting to win support from the tzibbur, Maklev hinted that significant financial backing is fueling those efforts and suggested that the sources of that funding will eventually become public.

“The day will come when people will know where the big money is coming from. I know exactly where those funds are coming from. Once the facts are revealed, the public will understand, and there will be no need to keep talking about all these parties.”

Maklev also sharply criticized the Religious Zionism Party, accusing it of contributing to the growing public campaign against bnei yeshiva. He said the party’s position on combining Torah learning with military service has only intensified the controversy.

“When Religious Zionism says, ‘We don’t oppose Torah study, but you can do both,’ that is exactly the statement that created confusion and brought great incitement. As a party, Religious Zionism was the most problematic element within this coalition.”

Commenting on the law that temporarily froze the arrest of bnei yeshiva who had not complied with the draft, which was later struck down by Israel’s Supreme Court, Maklev defended the legislation and insisted that passing it had been the right decision.

“Passing the arrests law was not a mistake,” he said.

Maklev said the coalition always understood that the legislation would likely lead to a legal showdown with the Supreme Court, arguing that every time the court overturns a law passed by the Knesset, it further weakens its own public standing.

“We knew from the outset that we were heading for a confrontation with the Supreme Court. Every law that the Supreme Court strikes down only further undermines the legitimacy of the Supreme Court itself.”

{Matzav.com}

A judge at the New South Wales Supreme Court in Australia on Friday overturned a decision by a lower court that viral footage of two former Sydney nurses vowing to “kill Israelis” is inadmissible as evidence in their trial.

Sarah Abu Lebdeh, 27, and Ahmad Rashad Nadir, 28, became the focus of international attention after a video circulated online last year in which they threatened Israeli patients while employed at Bankstown Hospital in Sydney.

Following a two-day court hearing last month, Judge Michael McHugh at the NSW District Court ruled that the video must be excluded from both trials because it was recorded without the nurses’ consent. Under New South Wales law, recording a private conversation without the consent of those involved is generally prohibited.

The Commonwealth Department of Public Prosecutions appealed the decision, and on Friday, the NSW Supreme Court overturned the ruling, finding that unedited audiovisual evidence was admissible and could be used at trial.

The court’s reasoning will be published at a later date.

The nurses are due to stand trial at the end of August.

(YWN Israel Desk—Jerusalem)

The weight-loss drug boom is quietly changing hands. As employer health plans retreat from covering Wegovy and Zepbound, a growing share of American patients is paying cash through manufacturer and retailer programs — and the biggest beneficiaries may prove to be the companies that own the pharmacy counter rather than the ones that make the drug. Employers are dropping GLP-1 coverage in greater numbers, pushing more patients toward direct-to-consumer prescription programs and handing Walmart, Costco, CVS and Amazon a shot at a larger slice of the market.

The pullback is measurable. A Mercer study found employers scaled back GLP-1 weight-loss coverage in 2026, with 6% of employers with 500 or more workers dropping it outright and another 5% planning or actively weighing the same move for 2027. Several regional insurers ended obesity-indication coverage at the start of the year, and HCA Healthcare, one of the country’s largest hospital operators, told employees its GLP-1 benefit was ending after utilization jumped 90% in a single year, steering workers toward manufacturer cash-pay programs instead.

Those programs have gotten aggressive on price. Eli Lilly cut Zepbound to $299 a month for starter doses on LillyDirect, with the next dose step at $399 and higher doses at $449. The better pricing is tied to refilling within 45 days, while Novo Nordisk’s NovoCare runs $199 for introductory months before stepping up to $349, and Costco’s partnership with Sesame prices Wegovy at roughly $349 on top of a paid membership.

For retailers, the appeal is not the margin on the vial. It is the calendar. A patient on maintenance therapy comes back every month, indefinitely, and each visit is a trip into the store. Walmart’s role as the retail pickup point for LillyDirect matters because the customer collecting a prescription has to walk the aisles to reach the pharmacy — creating a recurring relationship that retailers spend billions trying to build. Industry analysts say the tiered refill pricing functions much like a loyalty program, rewarding repeat business while encouraging patients to stay within the same ecosystem.

Amazon has moved on the same logic from a different direction. Its primary care arm, Amazon One Medical, launched a GLP-1 management program folding obesity treatment into routine care, combining virtual and in-person visits with prescription management and pharmacy fulfillment, while the company expands same-day prescription delivery to thousands of cities. Walmart has broadened its Better Care Services platform with nutrition, coaching and weight-management support around the prescriptions its pharmacies already fill. CVS has also integrated GLP-1 prescribing through MinuteClinic, pairing evaluation visits with prescriptions filled at its own pharmacies.

The squeeze falls on independent pharmacies. The race among the major chains to fill the coverage gap could leave smaller operators at a disadvantage because they lack the scale to offset lower prescription margins with grocery, general merchandise, memberships and other higher-margin purchases that often accompany a pharmacy visit.

There is also a second-order effect inside many of the same stores. Research has found GLP-1 users generally spend less on restaurants and takeout while trimming grocery purchases more modestly, prompting retailers to introduce higher-protein and portion-focused food offerings. As patients lose weight, many also refresh their wardrobes, creating additional opportunities in apparel and other retail categories.

The open question is how far the cash-pay market can stretch. Survey data show GLP-1 use continues to climb, but most consumers say they can afford only about $100 a month, well below today’s typical cash prices of roughly $299 to $449. That affordability gap could determine how quickly the market expands.

The winners in the GLP-1 boom may not ultimately be the pharmaceutical companies. As more Americans pay cash instead of relying on employer health plans, retailers are positioning the pharmacy as the start of a broader customer relationship. Every monthly refill becomes another store visit, another opportunity to sell groceries, clothing, health services and everyday essentials. In the next phase of the weight-loss market, the company that owns the refill may end up owning far more than the prescription.

JBizNews Desk | New York

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Ground beef reached $6.82 a pound in the latest federal price data, a figure that has become shorthand for what American families are absorbing at the checkout counter this summer. Food prices have climbed nearly 30 percent since 2020, according to Bureau of Labor Statistics figures, and the increases are no longer confined to the meat case.

The pressure is arriving from two directions at once. Gasoline and energy goods prices fell 9.2 percent in June, the steepest monthly decline since August 2022, but prices have since climbed and the national average is back above $4 a gallon — a threshold that historically reshapes how households think about every other purchase they make. Consumer attitudes had improved modestly in June as gas fell to roughly $3.70 a gallon from more than $4.50 in late April and early May. That relief lasted weeks, not months.

Federal data released this week captured the reprieve before it evaporated. The Personal Consumption Expenditures price index dropped 0.1 percent from May, bringing the annual rate to 3.7 percent from 4.1 percent, Commerce Department figures showed — the first decline in overall inflation in six years. Economists caution that the June reading reflects a temporary lull in Middle East fighting rather than a durable shift. Setting aside energy volatility, underlying inflation is running near 3 percent, RSM US chief economist Joe Brusuelas said, and July’s upward move in fuel prices is expected to reverse much of June’s improvement.

The annual picture underscores how narrow the June relief was. Over the twelve months ended in June, the Consumer Price Index rose 3.5 percent, with food up 3.0 percent, groceries up 2.7 percent and restaurant prices up 3.4 percent. Energy prices climbed 15.7 percent over the same period, gasoline rose 26.7 percent and electricity increased 4.0 percent.

Fuel costs are riding into food prices

What separates this stretch from earlier inflation episodes is how directly transportation costs are moving onto grocery shelves. Diesel prices in the second quarter ran roughly 51 percent above January and February levels, while jet fuel costs rose about 90 percent from a year earlier, according to AFS Logistics chief executive Andy Dyer. Truckload pricing has reached a four-year high on rising fuel costs and tightened capacity, a mid-July freight index from AFS Logistics and TD Cowen found, and carriers including UPS and FedEx have layered on fuel surcharges as costs climbed.

Those charges do not stay with the shipper. Companies producing and selling fresh food, school supplies and anything moved by truck, ship or air have reported cost effects from the earlier energy spike and are expected to continue passing a share of them along. Back-to-school season lands squarely in the pass-through window.

The retail side is already adjusting its own expectations. Albertsons lowered its fiscal 2026 outlook on July 23, pointing to pressure in its core grocery business and a pullback in consumer spending. When a national grocer signals that shoppers are trading down, it is describing behavior that store managers see weeks before it registers in federal statistics.

Sentiment follows the pump

Household confidence is tracking the same curve. The Conference Board’s consumer confidence index fell to 90.8 in July from 92.2 in June, remaining in the tepid range it has occupied since the start of the year — well below the readings above 100 recorded in late 2024 and early 2025. The organization’s present situation gauge, which measures how consumers assess current business and labor market conditions, fell 3.6 points to 114.9, a third consecutive monthly decline. Survey write-in responses showed a rise in mentions of food and grocery prices.

The survey ran from July 1 through July 22, meaning the most recent leg of the fuel climb is not yet fully reflected in the numbers.

The underlying driver is the energy market. Oil pushed past $100 a barrel on July 23 amid renewed fighting and strikes that left supplies stranded in the Middle East, a reversal from the lower prices that briefly held when hostilities eased in June. Brent crude had last touched $100 in May. The national average for regular gasoline stood at $4.09 on July 23, up 15 cents in a week, with drivers in most states paying $4 or more.

For families managing a weekly grocery run and a full tank, the arithmetic is straightforward. Cheaper fuel in June bought a month of breathing room. July took it back, and the freight costs working their way through the supply chain suggest the beef counter has not finished moving.

JBizNews Desk | New York

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A cautious calm was felt across the Middle East on Sunday morning following President Donald Trump’s announcement late Motzei Shabbos  that he had canceled the planned strike on Iran.

Trump wrote on Truth Social that the US was prepared to confront Iran with levels of military force “not seen since World War II,” but after being “asked by Iran and other Middle Eastern countries” has agreed to hold off on any attack and reach an agreement for “the future benefit of the world.”

The announcement came after heightened alert levels and escalating tensions reached their peak just hours earlier, with several warnings issued by U.S. embassies in Jerusalem and other Middle Eastern capitals urging American citizens to avoid travel to the region and recommending that those already there consider leaving or prepare to do so.

Iran quickly seized the opportunity to mock Trump, with regime-aligned media outlets portraying the move as yet another US retreat.

Mohammad Marandi, who served as an adviser to the Iranian negotiating team during talks with the US, wrote on X: “Everyone now knows it was fake news. Trump backed down.”

Iran’s Fars News Agency also mocked the announcement: “Trump’s familiar story: I canceled the attack for the good of the world and for Iran’s survival.”

The Iranian newspaper Kayhan, widely regarded as a mouthpiece for the Ayatollah regime, wrote: “The U.S. president backed down after a week of fabricated statements. The same repeated script.”

(YWN Israel Desk—Jerusalem)

A political storm erupted in Yehuda and Shomron after an IDF soldier serving in a reconnaissance unit, who was home on leave, was arrested on Shabbos for intervening to save a Jew from an Arab mob near the village of Al-Mughayyir on Erev Shabbos.

The incident began on Friday when dozens of Arabs carried out a lynching attempt against a Jewish shepherd in the Shomron. They hurled explosives and stones at him from close-range, placing him in danger and prompting him to call both security forces and residents of nearby farms for help.

The 19-year-old soldier, who was at his home for Shabbos at a nearby farm, rushed to the scene to assist the shepherd until security forces arrived. He assessed the situation and acted with restraint to protect the shepherd. He did not fire his weapon and waited for IDF forces to arrive. After the forces reached the scene, they dispersed the rioters using crowd-control measures, and the shepherd returned safely to the farm with his flock.

However,  despite the fact that the incident ended without further escalation, Arabs media channels launched a libelous incitement campaign, claiming that the IDF soldier shot and wounded a Palestinian child. To “prove” their claim, they circulated an outdated photo of the soldier on social media along with edited video clips. According to local Jews, the campaign deliberately targeted the soldier, who is well-known in the area through his activities at local farms.

Police said that the interagency task force operating in the Yehuda and Shomron District received a report of a shooting victim in the area of al-Mughayyir and information suggesting the possible involvement of an Israeli civilian. An investigation was opened, and efforts were launched to locate the suspect.

On Shabbos, detectives from the task force, together with officers from the Binyamin police station and Border Police forces in Yehuda and Shomron, arrested the “suspect”—a 19-year-old resident of the Binyamin region and an IDF soldier on active duty who was on leave, the police said. He was transferred for questioning in coordination with the IDF and the Military Police Criminal Investigation Division.

“It’s unfathomable that a soldier who goes out to defend civilians against dozens of rioters finds himself under arrest because of Hamas fake news,” residents said. “We demand his immediate release.”

On Sunday, following the storm of outrage and discussions between the police and the army, the soldier was released under restrictive conditions.

As part of the investigation of the case, the soldier clarified at the initial stage of the interrogation that he arrived at the scene with one sole purpose – to save lives. It also emerged that the incident occurred during a widespread disturbance in which many other soldiers were involved, while another military force was simultaneously operating in the sector. Since he is an IDF soldier and a Military Police investigation has been opened against him, it was clarified that the required response and clarification would be carried out solely within the military framework.

(YWN Israel Desk—Jerusalem)

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A Montreal kosher restaurant burned down in a suspected arson attack in the early hours of Saturday morning.

Police received reports at around 3:15 am of the fire at Nöam restaurant and the business next door, and spent several hours bringing the flames under control. Both buildings sustained major damage.

Montreal police’s (SPVM) arson squad is now looking into the incident as a suspected arson and has opened a hate crime investigation.

Public Safety Minister Gary Anandasangaree said he was “extremely concerned” at what appears to be an arson attack on Nöam.

“Antisemitism has no place in our societies, and we will keep working to root it out wherever it occurs,” he said. “Thank you to the firefighters who responded immediately at the scene.”

Nöam, an incredibly popular kosher restaurant that serves Italian and Mediterranean food in Montreal, was burned down last night at 3 am.

It looks like arson, and police are investigating a possible suspect seen walking away from the scene.

We can’t say for sure the motive was… pic.twitter.com/AnBJPnCjBH

— Hen Mazzig (@HenMazzig) August 1, 2026

Jews must be protected from hate crimes

“Another day. Another attack against Canada’s Jewish people,” wrote Pierre Poilievre, leader of Canada’s Conservative Party and the Official Opposition.

“No more talk. We need real action to protect Jews and other Canadians from the hate crimes the government tolerates on our streets.”

B’nai Brith Canada noted that while police have not established a motive, this incident comes against the backdrop of a “much broader failure,” whereby “governments have allowed a climate of intimidation, disorder and escalating threats to take hold around Jewish communities, leaving Jewish neighborhoods, institutions and businesses increasingly exposed.”

Canada has seen a spate of antisemitic incidents over the last few weeks, including attacks on kosher bakeries in Toronto, and antisemitic abuse against a Jewish family in a Montreal playground.

The Jerusalem Post reached out to SPVM for comment.

This post was originally published on here.

Wildfires across more than a quarter of a million acres in Washington state have prompted widespread evacuations and power outages in the Spokane area, state officials said on Saturday evening.

About 4,000 people were fighting more than a dozen fires throughout the state, Dave Upthegrove, the state’s commissioner of public lands, said during a virtual press conference.

Governor Bob Ferguson declared a statewide emergency and burn ban on Saturday morning. No injuries or fatalities related to the fire were known at this point, officials said.

Spokane, home to about 230,000 residents of eastern Washington, is dealing with the Old Trails Fire, which Washington State Forester George Geissler said was active on 3,000 acres and threatened 4,000 structures.

Some major facilities in Spokane have been evacuated, Mayor Lisa Brown said, including water reclamation facilities, a waste-energy plant and the Department of Veterans Affairs hospital.

A minimum of 200 homes evacuated

As of 3:30 p.m. local time, about 200 homes in Spokane had been evacuated, but officials expected that figure to change. “These are large areas of the city, so I assume it’s going to be more than that,” Brown said.

Utilities company Avista, which services eastern Washington, reported that 60,000 people were without power, according to Stacey McClain of the Washington State Emergency Management Division.

“Our state is facing a very serious situation with multiple fires,” Ferguson said, noting that high winds and high temperatures throughout the weekend would make fighting the fires more challenging.

For the summer so far, about 450,000 acres have burned in Washington state, Upthegrove said. “This is not normal… Throughout the state of Washington we’re seeing fires raging,” he said.

The fire in Spokane is one of five “major complex fires” in the state, Geissler said. The biggest, the Kaiser Canyon Fire in the northeastern part of the state, is approximately 134,000 acres, he said.

Wildfires this summer have been a problem in other parts of the Pacific Northwest. Nearly 34,000 lightning strikes last month led to a series of fires and evacuation orders in the southern part of British Columbia.

In addition to the National Guard, firefighters from more than a dozen states are helping, Washington officials said during the news conference.

“It’s a tragedy what we’re seeing over there,” said Major General Gent Welsh, adjutant general of the Washington National Guard. “When the sun sets and the sun rises in the morning, I think we’re going to be in shock to see some of the scenes that emerged out there.”

This post was originally published on here.

The United States has joined Japan in buying yen, turning Tokyo’s currency defense into a coordinated effort to stop a disorderly decline from spreading through global trade, inflation and bond markets.

The U.S. Treasury instructed the Federal Reserve Bank of New York to purchase yen by selling euros, according to reports citing people familiar with the transaction. Japan is expected to formally announce the joint intervention, which would mark the first coordinated U.S.-Japanese operation supporting the yen since 2011. 

Washington has not disclosed the amount purchased. A Reuters photograph taken during a Cabinet meeting Friday showed Treasury Secretary Scott Bessent’s handwritten task list containing the instruction “Buy Japanese Yen” followed by a proposed range of $5 billion to $10 billion. Treasury declined to comment on the note. 

The method matters. By selling euros rather than dollars, Washington could support the yen without directly weakening the dollar or adding further pressure to U.S. inflation. The intervention was reportedly executed through Goldman Sachs and Morgan Stanley on behalf of the New York Fed.

Japan appears to have committed far more. Bank of Japan money-market data indicated that Japanese authorities may have spent as much as 8.2 trillion yen, approximately $59 billion, purchasing their currency after it fell toward four-decade lows. 

Currency intervention is usually temporary unless monetary policy moves in the same direction. Japan’s interest rate remains far below comparable U.S. rates, encouraging investors to borrow cheaply in yen and move the money into higher-yielding dollar assets.

That trade has weakened the yen and made imported oil, food and raw materials more expensive for Japanese households and businesses. The Iran-driven energy shock intensified the pressure because Japan imports most of the fuel needed to run its economy.

Washington’s participation signals that the consequences are no longer confined to Japan. A rapid yen decline can give Japanese manufacturers a large pricing advantage, distort trade flows and expose investors who have borrowed in yen to sudden losses if the currency rebounds.

Global bond markets face another risk. Japanese banks, insurers and pension funds are major owners of U.S. Treasurys. If higher Japanese rates or a stronger yen encourage them to bring money home, demand for American government debt could weaken and U.S. borrowing costs could rise.

Tokyo has explored using the Federal Reserve’s foreign-monetary-authority repurchase facility to obtain dollars without selling its Treasury holdings. That would allow Japan to finance additional intervention while reducing the danger of triggering a broader selloff in U.S. bonds.

The coordinated action also represents a departure from the longstanding preference of major governments to allow exchange rates to be set by markets. The U.S. and Japan reaffirmed last year that intervention should be reserved for excessive volatility or disorderly movements rather than used to create a trade advantage. 

Japan’s Finance Ministry controls intervention policy, while the Bank of Japan executes the trades. In the United States, Treasury directs currency operations through the Exchange Stabilization Fund, with the New York Fed acting as its market agent.

A purchase of $5 billion to $10 billion would be small compared with the trillions traded daily in global foreign-exchange markets. Its significance comes from the message that both governments are prepared to act together and potentially return with larger purchases.

Traders will now test whether that commitment is strong enough to establish a floor under the yen. Without faster Japanese interest-rate increases or lower U.S. rates, intervention alone may slow the decline without reversing the economic forces behind it.

The next signal will come from Japan’s formal disclosure and any confirmation from the U.S. Treasury. Those statements will determine whether Friday’s transactions were a limited warning to currency markets or the beginning of a sustained campaign to prevent the yen’s weakness from becoming a wider financial threat.

JBizNews Desk | Washington and Tokyo

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Nearly 23,000 pounds of Ukrop’s Homestyle Foods baked spaghetti and chicken cobbler products are being recalled over concerns they may be contaminated with metal slivers, federal regulators said.

The U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) said the recalled products were sold in Virginia, North Carolina and West Virginia, as well as through Department of War commissaries and online sales.

According to FSIS, the products may be contaminated with a foreign material, specifically metal slivers.

The recall was initiated after a customer found a piece of metal in one of the products.

“The problem was discovered after the establishment received a consumer complaint regarding a metal piece found in a fully cooked product,” FSIS said in its recall announcement.

No injuries have been confirmed, according to FSIS.

“Anyone concerned about an injury should contact a healthcare provider,” the agency said.

The recall affects products manufactured between July 1 and July 29, 2026.

The recalled products include 62.4-ounce bulk pans and 4.8-ounce single-serving trays of Ukrop’s Baked Spaghetti, along with 48-ounce family-size pans and 11.6-ounce single-serving trays of Ukrop’s Chicken Cobbler.

All affected products carry “best by” dates ranging from July 8 through Aug. 5.

Consumers who purchased the recalled products, including those stored in freezers, should throw them away or return them to the place of purchase for a full refund.

The recall comes after Rich Products Corp. recalled thousands of cases of its Farm Rich Pizza Cheese Crunchers in June because the frozen snacks may have contained metal pieces.

More than 160,000 pounds of the frozen snacks were recalled across 21 states, according to the U.S. Food and Drug Administration.

FOX Business’ Brie Stimson contributed to this report.

Lakewood Police are investigating after a tire was found burning in the roadway on the west side of town.

Another tire with gasoline inside it was also found in the roadway on Cedarbridge Ave.

Anyone with information is asked to call the LPD.

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Six Flags is making one of its biggest investments in years, unveiling Bakunawa, a 382-foot roller coaster at Six Flags Great Adventure in New Jersey that is designed to break six world records when it opens in 2027. The attraction replaces the former Kingda Ka site and underscores the company’s strategy of using headline attractions to boost attendance, season-pass sales and in-park spending.

The coaster will accelerate to 100 mph using three magnetic launches instead of a traditional chain lift. Riders will climb a 90-degree vertical tower before plunging through a series of spinning inversions aboard floorless trains that rotate freely throughout the ride, creating a different experience on every trip.

According to Six Flags, Bakunawa is expected to set six world records:

• Tallest spinning roller coaster
• Fastest spinning roller coaster
• First upside-down launch on a roller coaster
• First floorless spinning roller coaster
• Fastest coaster inversion
• Longest stall inversion

The investment highlights how regional theme park operators are competing for consumers’ discretionary spending. Rather than relying solely on seasonal events or smaller attractions, Six Flags is betting that an exclusive, record-breaking ride will encourage repeat visits, attract tourists from across the country and strengthen demand for annual memberships.

Named after the mythical sea serpent from Philippine folklore, Bakunawa will anchor a redesigned Boardwalk section of the park. The ride will feature a 3,163-foot track, two 20-passenger trains and a ride time of approximately two minutes and 17 seconds.

For Six Flags, the coaster represents more than a thrill ride. It is a long-term investment in keeping Great Adventure among North America’s premier theme park destinations while creating a new attraction that cannot be replicated by competitors.

JBizNews Desk | Jackson Township, New Jersey

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Multiple motorists have gotten flat tires this evening after hitting the new unmarked cement barrier on Rt. 9 in Lakewood.

While driving down Rt. 9, motorists are met by the barrier which forces them to shift – but they don’t see it until it’s too late.

Chaveirim CJ is placing reflective cones out there now to prevent further incidents until the barrier is completed with proper signs and reflective devices.

Police have also been notified.

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A new survey by Israeli recruiting firm GotFriends, seen by Globes, reports that while many tech companies continue to reduce employees and slow hiring, as part of streamlining adjustments for AI adoption, defense-tech startups are aggressively expanding their workforce. The number of new jobs in the defense-tech industry increased 20% in 2026 compared with the same period last year, and wages are climbing by about 8%.

In recent months, dozens of tech companies in Israel and around the world have announced new rounds of layoffs. Many of them explained that these are part of efficiency measures due to expanded use of AI, automation of work processes, and reconfiguring the workforce structure. However, while large parts of the tech industry are laying off employees, one sector continues to move in the opposite direction. In effect, the GotFriends report indicates a change in the employment map of Israel’s tech industry.

The survey reports that the number of new jobs opened at defense-tech startups has increased 20% this year compared with the same period last year. At the same time, wages in the industry increased about 8%, a figure that illustrates, among other things, the increasing competition for employees with experience in the fields of software, hardware, cybersecurity and AI.

According to GotFriends, among the companies currently hiring the largest number of employees in the field are Kela Technologies, Xtend, Airis Labs, D-Fend Solutions and Axon Vision. Thus, if in the past the main competition for engineers was between software, fintech and cybersecurity companies, today defense-tech startups are also competing for the same candidates, offering similar salaries and conditions.

Procurement orders from the Ministry of Defense

The increase in the number of jobs in defense-tech in Israel is not happening in a vacuum. It is coming in parallel with broader growth in the entire industry. According to the report, defense-tech companies around the world have raised about $12.3 billion since the start of 2026, almost twice as much as in the same period last year. In Israel, companies in the field have raised about $846 million since the start of the year, almost the amount that was raised in all of 2025.

Investments are only part of the story. According to the report, about 800 Israeli startups are already receiving procurement orders directly from the Ministry of Defense. In other words, the industry is no longer relying solely on venture capital but is establishing business activity and producing revenue. For early-stage companies, this is a significant change, because it allows them to test their technology in real conditions, improve it quickly, and reach additional customers with a product that has already proven operational capability.

According to the report’s authors, one of the main reasons for the growth of the field is the change in the global security reality. The wars in Ukraine and the Middle East have shown many countries the need for solutions that can be developed and implemented quickly, instead of projects that take many years. At the same time, the procurement model has also changed. Alongside large defense companies, more and more governments and armies are also turning to startups that are able to provide targeted solutions in a short time.

The wars have also shortened the path between the laboratory and the battlefield. Technologies that previously underwent years of trials and demonstrations are now being tested in real conditions, sometimes in the early stages of development. For companies, this is an opportunity to learn from the field, make adjustments quickly, and present solutions that have already proven themselves to customers around the world. According to the report, this process has turned Israeli defense innovation into an international showcase in areas such as autonomous systems, drones, intelligence, and air defense.

Hardware professions are returning to center stage

The change is also evident in the types of employees that companies are looking for. While in the past the main demand was for software developers, today companies are hiring for almost all areas of development. According to the report, Python, Embedded, and C++ developers are sought after, along with cloud and AI experts. Demand for hardware engineers is also increasing, including FPGA and VLSI engineers for the design and development of chips and electronic components used in advanced defense systems.

Algorithmic fields are also growing, mainly in the field of computer vision, which allows systems to recognize and analyze images, and in the field of integrating information from various sensors, an essential ability for drones and autonomous systems. Alongside these, companies also continue to recruit cybersecurity researchers, reverse engineering experts, and threat intelligence personnel.

One of the most notable trends the report points to is the return of hardware engineers to center stage. For years, the main demand in Israeli tech was for software developers, but the shift to AI-based systems, drones, sensors, and advanced communications is bringing back the need for experts who develop the physical infrastructure on which those systems operate. GotFriends notes that roles such as hardware architects, VLSI and board design engineers, who design the structure of electronic cards and the components on which the systems are based, are currently among the most sought-after and well-paid roles in the industry. According to the report, while in some tech companies the adoption of AI brings job cuts as part of efficiency measures, in defense-tech the opposite process is occurring. The more AI-based systems companies develop, the more engineers and developers are needed, and so AI acts as a catalyst for hiring employees.

Narrowing the salary gap with other fields

The change is not limited to the number of jobs. According to the report, salaries in the industry have also increased by about 8% in the past year. GotFriends notes that one of the most significant changes is that the gap in salary levels between defense-tech startups and SaaS, fintech, and cybersecurity companies has narrowed significantly.

If in the past, defense-tech companies were perceived as stable employers but less competitive in terms of salary, today defense-tech startups offer compensation packages similar to those of leading tech companies, in order to attract the same engineers and developers. For example, the average salary of hardware architects reaches about NIS 50,000 per month, algorithmic engineers earn an average of about NIS 47,000, AI engineers and VLSI engineers about NIS 45,000, and the salary of experienced software developers is approaching NIS 44,000 per month.

According to GotFriends, the competition is no longer based solely on salary. In the past three years, there has been a sharp increase in the number of candidates who apply for jobs at defense-tech companies. In the past, many preferred to build a career in commercial software companies, but today more and more employees are seeking to integrate into the development of technologies with defense applications. According to the report’s authors, in addition to salary, the sense of meaning and the desire to work on products that have a direct impact on national security have become a significant consideration for some candidates when choosing a job.

The change is also noticeable on the entrepreneurial side. According to the report, many of the new startups in the field were founded by reservists and veterans of technology units, who during their service were exposed to operational needs that were not adequately met. The combination of operational experience, engineering knowledge, and entrepreneurship has created a new wave of companies that are developing solutions in areas such as drones, autonomous systems, cybersecurity, and AI, and these companies are attracting both investments and employees.

This post was originally published on here.