Women’s Council of Realtors has named Tripti Kasal as its new CEO, selecting a residential real estate executive to guide the 9,000-member organization.

Kasal will lead Women’s Council’s efforts to prepare and support more women for senior leadership roles in brokerages, associations and MLSs, technology companies, advocacy initiatives, entrepreneurship and community development.

Women have represented the majority of Realtors since 1978 and today account for 62% of the profession. Yet women remain underrepresented in executive roles, the council cited.

“Real estate needs well-prepared leaders who can build consensus, make difficult decisions, advocate effectively and guide organizations through profound change,” said Cheryl Keller, 2026 national president of Women’s Council of Realtors. “Women’s Council has been preparing women to meet that challenge for generations, and Tripti is uniquely qualified to help us expand that impact.”

Kasal brings more than 25 years of residential real estate experience spanning brokerage operations, market expansion, recruiting, coaching, marketing, business development and member engagement.

“I am passionate about the future of residential real estate and the role well-trained, well-supported leaders must play in shaping it,” she said. “Our industry needs leaders who are prepared to listen, build trust, advocate effectively and help others navigate change with confidence.”

Early in her career, Kasal helped launch and grow the Chicago operation of an internet-based residential brokerage, expanding its sales team from five to more than 40 agents in less than a year.

She later owned a boutique brokerage in Chicago’s Lincoln Park neighborhood.

Kasal spent 10 years in senior leadership with Baird & Warner, most recently serving as senior vice president and regional manager for the Chicago metropolitan area.

Most recently, she served as senior vice president of member engagement for Leading Real Estate Companies of the World, where she led the U.S. membership services team and helped independent brokerages connect with education, technology, marketing, relocation and business development resources.

As CEO, Kasal will focus on expanding membership and engagement, strengthening local and state networks, broadening leadership education, increasing participation in PMN, deepening partnerships with brokerages and organized real estate, and growing the business value of Women’s Council’s nationwide referral network.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.

This post was originally published on here.

NEW YORK — Apple Inc. cleared one of its biggest hurdles in China on Wednesday after the Cyberspace Administration of China (CAC) approved Apple Intelligence for use on iPhones in mainland China, allowing the company to bring its artificial intelligence platform to the world’s largest smartphone market through a partnership with Alibaba Group Holding Ltd.

The decision removes a major obstacle that has delayed Apple’s AI rollout in China for nearly two years and gives the iPhone maker an opportunity to compete more directly with domestic rivals that have already integrated generative artificial intelligence into their smartphones.

Investors immediately recognized the significance of the announcement. Apple shares climbed about 4% to a record high, while U.S.-listed shares of Alibaba rose as much as 7% after the company confirmed its technology would power Apple’s AI services in China.

The approval represents far more than a software update. It marks one of the most important technology partnerships between an American consumer electronics company and a Chinese artificial intelligence developer.

Alibaba Powers Apple’s AI in China

At the center of the agreement is Alibaba’s Qwen large language model.

Alibaba confirmed that Qwen will serve as the foundation for Apple Intelligence in mainland China, providing artificial intelligence capabilities directly within Apple’s operating system. Instead of downloading a separate chatbot application, users will access AI-powered writing tools, image understanding, translation, content generation and other features through Apple’s native software.

Baidu is also participating as a technical partner supporting portions of Apple’s China AI deployment.

The CAC approval places Apple alongside Huawei, OPPO, vivo, Xiaomi, Samsung, and Nubia, all of which have received authorization to offer generative AI services on smartphones sold in China.

A Major Win in Apple’s Second-Largest Market

China remains one of Apple’s most strategically important markets.

The company recently reported Greater China revenue of $20.5 billion for the quarter, representing 28% year-over-year growth, while iPhone shipments increased 24.4% as Apple regained the No. 2 position in China’s smartphone market.

Until now, however, Chinese customers purchasing Apple’s newest devices could not access many of the artificial intelligence features already available elsewhere because of local regulatory restrictions.

That left Apple competing against domestic manufacturers whose AI capabilities had become major selling points.

Wednesday’s approval effectively closes that gap.

Approval Comes Before Launch

Regulatory approval does not mean Apple Intelligence will immediately become available across China.

Apple must still complete software deployment, localized engineering work and operating system updates before the service launches broadly.

Reports indicated that a limited beta version briefly appeared before being withdrawn, suggesting Apple continues preparing for a larger public rollout.

Compatible devices will require updated software and newer-generation iPhone hardware capable of running Apple Intelligence.

Why the Partnership Matters

For Alibaba, the agreement represents one of the strongest endorsements yet of its artificial intelligence platform.

Having Qwen selected to power Apple’s AI experience gives Alibaba access to one of the world’s largest consumer technology ecosystems while reinforcing its position among China’s leading AI developers.

For Apple, partnering with a domestic technology leader provides a practical solution for complying with China’s regulatory requirements governing artificial intelligence, cloud services and data localization.

The partnership also demonstrates how global technology companies continue adapting to increasingly complex regulatory environments by working with local providers rather than attempting to operate independently.

The Bigger Picture

Artificial intelligence has become the newest battleground in the global smartphone industry.

Consumers increasingly expect AI-powered features to be integrated directly into their devices, making regulatory approval in China particularly important for Apple as it seeks to defend market share against rapidly advancing domestic competitors.

For investors, Wednesday’s announcement removes one of the largest remaining uncertainties surrounding Apple’s AI strategy in China.

It also gives Alibaba a prominent role inside one of the world’s most valuable consumer technology ecosystems—an alliance that could reshape the competitive landscape of artificial intelligence in the world’s largest smartphone market.

JBizNews Desk | New York

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(AP) – The remains of several geese were found on the wreckage of a sightseeing helicopter that crashed into the Hudson River last year in New York City and killed 6 people, investigators said Thursday.

The National Transportation Safety Board reports released Thursday describe evidence and witness reports suggesting the helicopter struck several birds before it plummeted into the river on April 10, 2025.

The Federal Aviation Administration has said that helicopters are especially vulnerable to bird strikes because they fly at low altitudes. Helicopter bird strikes are unusual, but they can be devastating.

The victims of last year’s accident included a Siemens business executive from Spain, his family and the pilot. Passengers Agustin Escobar, 49; his wife, Mercè Camprubí Montal, 39; and their three children, Victor, 4; Mercedes, 8; and Agustin, 10, all died. The pilot was Seankese Johnson, 36, a U.S. Navy veteran who received his commercial pilot’s license in 2023. The crash renewed safety concerns about the popular sightseeing flights and prompted New Jersey’s governor to ask for additional restrictions on nonessential helicopter flights.

Lebanese President Joseph Aoun expressed optimism following talks with Israel, as U.S.-brokered negotiations continue over implementing the recently announced ceasefire framework between the two countries.

According to officials close to Aoun, the discussions were held in a “positive atmosphere,” with the United States reaffirming its commitment to supporting Lebanon’s security needs. Aoun said Lebanon remains committed to fulfilling its obligations under the agreement and stressed that diplomacy is the only path to preserving the country’s sovereignty and avoiding another military conflict.

The United States announced Wednesday that Israel and Lebanon had agreed on the terms for implementing “pilot zones,” under which the IDF would gradually withdraw from designated areas that would then be taken over by the Lebanese Armed Forces under American supervision.

Despite the agreement, Israel is expected to maintain control of several strategic positions in southern Lebanon, including the Ali Taher ridge, where Israeli officials believe a significant underground Hezbollah complex remains active. Discussions over dismantling the site are continuing as negotiators seek to avoid disrupting the diplomatic process.

The talks come as Hezbollah continues to reject calls to disarm, despite the requirement to do so under the memorandum of understanding reached at the end of June. The terror group has insisted that no agreement can move forward without its involvement.

(YWN World Headquarters – NYC)

(AP) – Speeding in your car to work, to pick up your children from school, or go from one errand to the next not only wastes money in gas and sends harmful emissions into the air, it barely saves you time, new research says.

It is something to think about as gas prices stay elevated throughout the summer months and add pain to day-to-day driving and seasonal road tripping.

Instead, abiding by posted speed limits can save U.S. drivers millions of dollars at the gas pump and eliminate millions of gallons of fuel each day, according to a study published Thursday in the Nature journal Communications Sustainability. That is fuel that, when burned, emits planet-warming gases into the atmosphere. To top it all off, changing driving habits wouldn’t even add a full minute to a driver’s commute.

University of Minnesota researchers analyzed 120 million vehicle trips across the United States from four Wednesdays in 2021 using driving data on national road networks, speed limits and U.S. Geological Survey elevation data. The analysis included roads with speed limits of 45 mph (72 kph) and higher.

More than 43% of the studied trips included at least one instance of speeding, and drivers spent nearly 12% of their driving time going faster than the speed limit.

They found that if drivers of light-duty, conventional internal combustion engine vehicles actually drove at posted speed limits, it could save an average of $22 million, based on fuel costs at the time, 6.7 million gallons of fuel and 57,000 metric tonnes of carbon dioxide every day. The researchers said that is comparable to taking about 5.5 million passenger vehicles off the road.

And while drivers say that speeding saves them precious time, researchers found that is not really the case. With an average daily driving distance of 28.6 miles (46.03 kilometers), driving at or below the posted limit corresponds only to about 54 seconds longer per day.

“If your goal is to shave one minute off your time, then you’ve got to drive fast. If your objective is to get to your destination safely and to save fuel, then you might drive slower than the speed limit,” said William Northrop, mechanical engineering professor at the University of Minnesota and study co-author.

The research considered battery-electric vehicle efficiency only in California given the level of EV adoption in the U.S. at that time. Based on the California modeling, “We find that driving slower is beneficial for EVs as well,” he said.

Interestingly, the study found differences among states. Nevada saw elevated speeding prevalence as well as high speed excess. There was high speeding prevalence in Florida, Georgia and North Carolina, though those states did not necessarily exhibit high speed excess. Montana, Wyoming, Idaho and South Dakota showed both low speeding prevalence and speed excess.

The cost of faster driving today
Driving faster increases a vehicle’s energy use and the emissions from its engine, as well as reduces efficiency. Vehicle engines have become increasingly more efficient over the past several decades even as vehicles have gotten bigger and more powerful. But speed limits have also climbed since the Emergency Highway Energy Conservation Act was implemented, which mandated 55 mph national speed limits amid the 1970s energy crisis.

Accounting for the average cost of gas today and more vehicle miles traveled, that increases to roughly $26 million and 7.2 million gallons of fuel that Americans collectively could save each day this year just by not putting the pedal to the metal.

One limitation of the research is that slower driving could impact traffic patterns, which could play a role in efficiency.

However, it is especially timely as U.S. drivers remain price-sensitive to volatile gas prices as the war in Iran has sent the cost for a gallon of fuel above $4 this year. Experts have said there are a number of ways to improve one’s gas mileage, including something as simple as slowing down. Less fuel needing to be purchased because of better efficiency could influence oil market demand, which in turn could impact pricing.

Rob Middleton, associate research scientist of mechanical engineering at the University of Michigan who was not involved in the research, said the study was well-done. But he also noted that the fuel saved from driving more slowly still only represents a fraction of daily gasoline consumption in the U.S., which is about 375 million gallons daily.

“It’s a big number, but it’s a small fraction,” Middleton said. “This is a ‘freebie’ in that it doesn’t really cost anyone anything to do.”

“The market penetration of selling EVs is still small, so we still need fuel, we still need ICE (internal combustion engine) vehicles, we’re still going to have them for a very long time,” he added. “Things that we can do to either make the new ones better or to improve our fuel supply, we need to do.”

A towering life-sized statue honoring Charlie Kirk is scheduled to be unveiled in New York City’s Times Square on Sept. 10, exactly one year after the Turning Point USA co-founder was assassinated, in what the sculptor says is meant to be both a memorial and a statement in defense of free speech.

The monument was created by Sergio Furnari, a sculptor born in Sicily who has spent the past 35 years living in New York. He said the unveiling is planned for 2:23 p.m., the exact time Kirk was shot and killed while addressing a campus gathering at Utah Valley University in Orem, Utah, one year earlier.

“You know, I’m a New Yorker, so Times Square is like La Piazza,” Furnari told the New York Post. “Everything happens in the city, in the center of the town.”

Although he has not revealed the precise location where the statue will stand, Furnari said it will be displayed “really high on a truck so that everybody can see.”

Promoting the event on Instagram, Furnari wrote: “It’s going to be in the middle of Times Square, the center of the universe.”

He also encouraged those who admired Kirk to attend the ceremony, saying, “If you were a big fan of Charlie, this will be your opportunity to maybe find a little bit of peace or harmony.”

The sculpture portrays Kirk holding a microphone while wearing a sweatshirt bearing the word “FREEDOM,” a tribute to the campus speeches and debates that helped make him one of America’s best-known conservative activists.

Furnari explained that the current version was constructed with a metal framework and industrial resin, though he hopes to eventually recreate it in stainless steel so it is “bulletproof.”

The artist emphasized that his motivation was rooted in defending the principle of free expression rather than endorsing Kirk’s political views.

“It’s not like I was a fan or somebody that followed him. Actually, I didn’t agree with many of his things, but it’s about freedom of speech,” he told the Post.

Kirk, 31, was murdered on Sept. 10, 2025, while speaking before a large audience at Utah Valley University. His death sparked nationwide attention, leading to tributes from conservative figures across the country and renewed discussions about political violence and security at public events.

After co-founding Turning Point USA in 2012, Kirk helped build it into one of the nation’s largest conservative youth organizations, establishing chapters on high school and college campuses while organizing major political conferences and voter engagement initiatives.

Meanwhile, the criminal prosecution of the man accused of carrying out the killing continues in Utah. Tyler Robinson has been charged with aggravated murder, and prosecutors are seeking the death penalty.

Earlier this month, prosecutors wrapped up a weeklong preliminary hearing in which they introduced surveillance video, forensic evidence, and witness testimony they say connects Robinson to the shooting. Defense attorneys disputed the credibility of critical DNA and ballistic evidence.

Closing arguments are scheduled for Sept. 1 before Utah state District Judge Tony Graf, who will decide whether prosecutors have presented enough evidence for the case to move forward to trial.

If everything proceeds as planned, the Times Square unveiling will take place on the first anniversary of Kirk’s assassination and is expected to attract supporters from across the country. Furnari said he hopes the memorial will honor Kirk’s legacy while serving as a lasting symbol of the importance of free speech.

{Matzav.com}

Reward points were built to buy business class seats to Bali and long weekends in London hotels. USAA Federal Savings Bank reported this week that 36 percent of consumers holding credit card rewards are now cashing them in immediately to offset everyday expenses — groceries, gas and bills — rather than saving them for travel or big-ticket purchases.

“Consumers are changing the way they think about credit card rewards,” said Michael Moran, President of USAA Bank, announcing a new suite of rewards cards from Visa and American Express built around the shift. Moran said that what was once viewed as a benefit for travel or larger purchases has increasingly become a tool to manage everyday costs, and that as household budgets stay under pressure, people are looking for immediate ways to stretch their dollars.

The survey behind the finding was conducted by 160over90 Research, an online study of 1,143 U.S. adults ages 18–54 fielded March 26–30, 2026, with quotas set on age, gender and region.

The behavior underneath the number

The details are more telling than the headline figure.

Nearly half — 47 percent — reported using “Pay With Points” for essential items, compared with just 26 percent who used it for discretionary purposes. 42 percent said they redeem points monthly to lower statement balances. 30 percent cash out as soon as they hit the minimum redemption threshold.

Younger cardholders are the most aggressive. Among respondents aged 18–24, 72 percent redeem points monthly or as quickly as possible. Among those 25–34, 51 percent redeem monthly.

USAA Bank’s own transaction data mirrors it. Reward redemption volumes among its cardholders rose 47 percent year-over-year in 2025, driven by Shop With Rewards, which lets members knock down a gas, grocery or retail expense using points. That analysis drew on aggregated, anonymized data from more than four million USAA Bank credit card holders, as of December 31, 2025.

Points, in other words, have stopped being a savings account and started being a checking account.

What’s driving it

The pressure is coming from the grocery aisle. Research from the Urban Institute, released this week, found that roughly 63 percent of working-age adults have used a credit card to buy food. Of those, 19.6 percent did not pay the full balance but made minimum payments, and 8.7 percent could not make even the minimum — up from 7.1 percent in 2023.

“This means that over 1 in 4 working-age adults used credit cards to purchase food for their families and experienced repayment challenges,” the report stated.

Kassandra Martinchek, a co-author of the study, said there are millions “struggling to make that minimum payment when they’re putting groceries on their credit card.”

The Urban Institute found grocery prices have risen 32 percent over five years. Middle-income families — those earning between 200 and 400 percent of the federal poverty level — were hit hardest, with missed minimum credit card payments on food climbing from 9.3 percent in 2023 to 12.3 percent in 2025. Roughly 8.9 percent of adults used buy now, pay later plans to secure food, and more than a third of those users — 34.8 percent — missed an installment payment. About 20 percent said they were dipping into savings to buy groceries.

Who actually pays for the points

There is a second business story buried in the redemption data. A Harvard study estimates that consumers paying with cash and debit are subsidizing roughly $30 billion a year in points and rewards for credit card users.

Premium cards — the ones with the richest rewards — accounted for 60 percent of credit card volume in 2022, up from just 15 percent in 2006, according to the same study. The average swipe fee on a premium card runs 2.1 percent, against 1.7 percent for a basic credit card and under 1 percent for debit.

Merchants feel it directly. Managers at Tiger Fuel, which operates 10 gas stations and convenience stores in Virginia, expect to pay more in credit card fees this year than they will in rent.

The Electronic Payments Coalition counters that the number of lower- and middle-income consumers holding rewards cards has been rising, and that millions of low- and moderate-income families rely on cash back and rewards to offset the cost of groceries and gas. The group argues lower swipe fees would not necessarily reach shoppers, pointing to prices after the 2011 debit fee cap.

The timing

The USAA data landed the same week the inflation numbers finally broke the other way. The Bureau of Labor Statistics reported Wednesday that producer prices fell 0.3 percent in June, a day after consumer prices fell 0.4 percent and annual inflation cooled to 3.5 percent.

But that relief came from a ceasefire and cheaper oil, not from the grocery store. Food prices don’t unwind. The household that redeemed 5,000 points for a tank of gas in June will do it again in July.

JBizNews Desk | New York © JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

House Speaker Mike Johnson is preparing a strategy that could set the stage for another major budget battle with Democrats, as Republicans look to combine government funding with election integrity measures in the months leading up to November’s midterm elections.

According to reports, Johnson said Thursday that the House’s next major legislative effort will be a continuing resolution to keep the federal government operating beyond the Sept. 30 fiscal year deadline. The temporary funding measure would likely extend spending into the post-election lame-duck session, Politico reported.

The approach reportedly follows private discussions in which Johnson encouraged President Donald Trump to support the plan. Republicans believe another fight over federal spending could put Democrats on the defensive over key GOP priorities, particularly election security, before voters head to the polls.

When asked whether the Republican-backed SAVE America Act would be included in the temporary spending bill, Johnson indicated that no final decision has been made.

“We haven’t decided all that yet,” Johnson said when asked whether the Republican-backed SAVE America Act would be attached to the stopgap bill.

Johnson made clear, however, that the legislation remains central to the Republican agenda.

“The SAVE America Act is the No. 1 priority for us, and we’re going to attach it to everything that makes sense,” Johnson said. “So we’ll have to see.”

Republicans have increasingly pushed to link major legislation with the SAVE America Act, which would require individuals to provide proof of U.S. citizenship before registering to vote in federal elections. Although the House approved the proposal earlier this year, it has yet to advance in the Senate.

Politico reported that GOP leaders are debating whether to package the election integrity provisions with the funding bill, believing such a move would force Democrats to publicly oppose measures that have become a hallmark of President Trump’s legislative agenda. Some Democrats, however, are expected to favor a straightforward funding extension without additional policy provisions.

Sen. Brian Schatz, D-Hawaii, argued that lawmakers should simply keep the government funded until after the election, saying it would be “the adult thing” to do because Congress is unlikely to complete all of its appropriations work before the fiscal year expires.

At the same time, House Republicans are also working to move a separate $95 billion reconciliation package before lawmakers leave Washington for the August recess.

According to The Hill, the proposal would provide $73 billion for defense and intelligence programs, $12 billion for agricultural assistance, and another $10 billion to implement Trump-backed election integrity initiatives modeled after the SAVE America Act.

Not all Republicans are on board with the proposal. Fiscal conservatives have objected that the legislation does not adequately offset the new spending.

Rep. Warren Davidson, R-Ohio, predicted the framework would be “DOA,” while Rep. Chip Roy, R-Texas, said he remained undecided, cautioning that advancing the legislation too quickly would be a mistake.

House Republican leaders argue the scaled-down reconciliation package reflects negotiations with both the White House and Senate Republicans while addressing urgent military requirements in the aftermath of the conflict with Iran.

Vice President JD Vance has also urged House Republicans to rally behind the measure, arguing that it would bolster national security, provide assistance to American farmers, and advance election integrity efforts after Democrats declined to support the SAVE America Act in the Senate.

{Matzav.com}

Jared Kushner, a senior adviser to President Donald Trump, said some international aid intended for Gaza ultimately reached Hamas, where it was used to purchase weapons, build tunnels, and develop rockets.

Speaking by video conference to European and Arab foreign ministers during a donor meeting in Brussels, Kushner urged what he described as a “new approach” to rebuilding Gaza, arguing that the current aid system has been shaped by non-governmental organizations and terrorist actors.

According to Kushner, the international community must move beyond simply funding humanitarian assistance and instead ensure that reconstruction is tied to the dismantling of terrorist organizations.

He said Gaza should operate under the principle of “one government with one gun,” making clear that reconstruction cannot succeed while Hamas and other terror groups retain military capabilities.

Kushner’s remarks were widely interpreted as supporting a system that bypasses existing aid channels and conditions future reconstruction assistance on the disarmament of Hamas.

(YWN World Headquarters – NYC)

Heavy, pungent smoke from Canadian wildfires darkened skies in the U.S. on Thursday from the Great Lakes to parts of the East Coast, reducing visibility for commuters and prompting warnings that air quality could make being outside dangerous.

Detroit’s air quality was among the worst in the world for major cities, as a lingering high pressure system trapped smoke from dozens of fires in Canada and northern Minnesota, said Steven Freitag, a National Weather Service meteorologist in Pontiac, Michigan.

“Sure enough, it arrived in force here and it’s really pretty extreme levels,” said Freitag, who noted that visibility in some areas was reduced to a half mile.

Omar Mitchell wore a mask as he walked to his restaurant in Detroit. He said he urged his employees to do the same.

“It’s scary,” Mitchell, 50, said as he looked at the sky. “You don’t know necessarily what the side effects may be. That’s days or months later.”

Cities across the Great Lakes states registered air quality ranging from unhealthy to hazardous — which means it’s unhealthy for anyone, regardless of health conditions. Microscopic particles can lodge deep in the lungs and enter the bloodstream, leading to heart and lung problems and contributing to other long-term health issues.

All of Michigan and much of Minnesota were under a hazardous air quality alert. In the Chicago area, air quality ranged from very unhealthy to hazardous.

National Weather Service meteorologist Jake Petr said even if winds from the northwest clear skies as expected later this week, the smoky air could keep returning until the fires are out. That could take weeks or longer.

“Anytime we have something that could bring air from that region until the fires are over, it could conceivably dip back into the area,” Petr said.

In St. Paul, Minnesota, the air was “glowing yellow,” said Brent Williams, head of the soil, water and climate department at the University of Minnesota, who said the area “could be looking at weeks to months of continued smoke and flare-ups off and on as the winds blow in different directions.”

A study published this year found that long-term exposure to tiny particles from wildfire smoke contributed to an average of 24,100 deaths a year in the lower 48 states. Long-term exposure can make existing health problems worse and lead to a range of chronic and deadly health issues, including respiratory illness, cardiovascular and neurological diseases, and premature death.

In the New York City area, a thick, gloomy haze tinged the morning sky in orange-and-yellow, reducing visibility so dramatically that it partly obscured Manhattan’s prominent skyline.

Smoke eased a bit in the metropolitan area but was expected to thicken again by late afternoon or evening, possibly lasting overnight, weather service meteorologist Maureen Hastings said.

City officials opened cooling centers as health officials urged New Yorkers to limit strenuous and prolonged outdoor activities and to stick to air-conditioned spaces as much as possible. State officials distributed tens of thousands of face masks at transit hubs and other major locations.

Mayor Zohran Mamdani said public schools, parks and other city agencies were moving activities indoors, rescheduling events and adjusting operations as air quality was expected to worsen as the day progressed.

The state Department of Environmental Conservation warned that there was a potential for temporary spikes of “very unhealthy” air quality from Buffalo in the state’s western corner to Rochester by Lake Ontario, Syracuse in the central region, down to the greater New York City area.

Philadelphia officials urged people to avoid strenuous activity and stay inside or wear N95 or KN95 masks outside.

“Today is not the day to start your marathon training plan,” said Dr. Palak Raval-Nelson, the city’s public health commissioner.

(AP)

The controversy surrounding New York City Mayor Zohran Mamdani’s immigrant enclave map continues to draw criticism after it initially omitted Little Italy while recognizing dozens of other ethnic neighborhoods across the city, like Little Palestine, Egypt and Yemen.  The map also failed to identify many of New York’s historic Jewish and Irish communities, prompting accusations that some of the city’s oldest immigrant populations were being erased from its official cultural landscape.

In an interview with Rabbi Daniel Schonbuch, host of The Viktor Frankl Podcast, Andre DiMino, President of the Italian American One Voice Coalition, called the omission “a total disgrace,” arguing that it ignored the Italian, Jewish, Irish, and other long-established communities that played a central role in building New York City. While the city later announced that Little Italy would be restored following public backlash, DiMino said the controversy reflects a broader effort to diminish the historical contributions of these communities.

The discussion also explored the history of discrimination against Italian Americans, including the 1891 lynching of eleven Italians in New Orleans—the largest mass lynching in American history—as well as decades of employment discrimination and enduring stereotypes. DiMino said these chapters of American history deserve greater public recognition, particularly as debates over identity and historical memory continue.

The interview also highlighted the longstanding friendship between New York’s Jewish and Italian communities, whose members lived and worked alongside one another for generations. Both DiMino and Rabbi Schonbuch expressed concern that identity politics increasingly divides communities instead of bringing them together and emphasized the importance of preserving the history of all of New York’s historic ethnic and religious communities.

“If you’re going to be mayor for all the people,” DiMino said, “you cannot ignore the people who built this city.”

Follow Rabbi Daniel Schonbuch at www.rabbiforamerica.com

FLORHAM PARK, N.J. — The New York Jets and Xerox Holdings Corp. announced a multi-year partnership Wednesday that will integrate artificial intelligence, workflow automation and digital document technologies throughout the NFL franchise’s football and business operations.

The agreement makes Xerox the Jets’ Official Print and Digital Services Partner while expanding the company’s growing focus on AI-powered workplace technology beyond traditional office printing.

For Xerox, the partnership is another step in repositioning the 119-year-old company as a provider of intelligent workplace solutions. For the Jets, it represents an investment in technology designed to improve operational efficiency both on and off the field.

Technology Beyond the Front Office

The partnership extends well beyond traditional printing services.

Xerox will deploy intelligent workflow automation, digital content management and AI-enabled document technologies across multiple areas of the organization, supporting football operations, administrative functions and business departments.

The companies said the goal is to streamline everyday processes, improve collaboration and reduce manual administrative work, allowing employees to focus more on decision-making and fan engagement.

While the financial terms of the agreement were not disclosed, the partnership also includes Xerox joining the Jets Partner Alliance, the team’s corporate sponsorship platform.

AI Moves Into Professional Sports

Professional sports organizations are increasingly investing in artificial intelligence and digital automation.

Teams are using AI to improve business operations, analyze fan behavior, optimize ticket sales, streamline internal communications and enhance operational efficiency across their organizations.

Although football analytics have become commonplace over the past decade, many clubs are now expanding AI beyond coaching staffs into finance, marketing, human resources and customer service.

The Jets’ agreement reflects that broader trend.

Xerox Continues Business Transformation

For Xerox, partnerships such as this demonstrate how the company is evolving beyond its legacy copier business.

The company has spent recent years expanding its portfolio of digital workplace services, automation software, cybersecurity and AI-driven workflow solutions as businesses increasingly digitize paper-intensive processes.

Sports organizations provide high-profile opportunities to demonstrate those capabilities while showcasing technology that can also be adopted by corporate customers.

Business Lessons Beyond Football

The announcement highlights how artificial intelligence is becoming an enterprise productivity tool rather than simply a consumer technology.

Organizations across industries are investing in AI to automate repetitive work, accelerate document processing and improve operational efficiency.

Whether managing football operations or running a corporate headquarters, the underlying objective remains the same: allowing employees to spend less time on administrative tasks and more time making strategic decisions.

As businesses continue expanding AI adoption, partnerships like the one between the New York Jets and Xerox illustrate how digital transformation is increasingly reaching every corner of an organization—not just the technology department.

JBizNews Desk | Florham Park, New Jersey

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

The parent company of 7-Eleven convenience stores shed more light on its plan to close hundreds of stores in the U.S. this year.

Parent company Seven & i Holdings indicated in a filing earlier this year that it planned to close 645 7-Eleven stores in the company’s fiscal year 2026.

Seven & i Holdings’ latest quarterly earnings report included a presentation about the company’s various initiatives, including the restructuring of its store network amid the closure plans as well as conversion, remodels and new openings.

It said that it plans to close 200 unprofitable 7-Eleven stores in fiscal year 2026, with 45 stores closed to date.

The company also said that it plans to convert 350 of its convenience stores to wholesale fuel sites in the fiscal year, with 72 stores having been converted as of the first quarter.

Seven & i Holdings is planning to convert 390 stores to franchises this fiscal year and has done 43 to date.

Despite the company’s pullback, it’s also pursuing selective expansion and is planning to open 205 stores this year. The presentation noted it had opened 30 to date in the first quarter.

Seven & i Holdings’ plans to remodel 200 stores this fiscal year are expected to get underway in the second half of the fiscal year.

Overall, the plans outlined by the company earlier this year show the total number of 7-Eleven stores in the U.S. declining from 12,712 as of February to 12,272 at the end of the year, for a net decrease of 440 stores.

In late 2024, the company reported having 13,145 7-Eleven locations.

The company’s North American business has faced softer performance amid declines in customer traffic, according to company data.

The planned closures come as Seven & i Holdings looks to streamline operations and optimize its store portfolio. The company didn’t disclose which specific locations will be affected by the closures.

FOX Business’ Bradford Betz contributed to this report.

Mortgage rates in the United States have climbed to their highest level since the conflict with Iran began, as rising Treasury yields continue to push borrowing costs higher.

The average rate on a 30-year fixed mortgage rose to 6.55%, the highest level in nearly a year after briefly falling below 6% earlier this month. The increase followed a rise in Treasury yields as renewed fighting with Iran fueled concerns that higher oil prices could complicate progress in lowering inflation.

The higher rates are already being reflected in the housing market. Pending home sales fell 5.4% in June compared with the previous month and were 0.3% lower than a year earlier. Mortgage applications also declined 7% last week and remain 2% below their level from the same period last year.

Mortgage rates generally track the yield on the 10-year U.S. Treasury note. Although annual inflation eased to 3.5% in June from 4.2% in May, economists say higher energy prices could make it more difficult for borrowing costs to move lower in the coming months.

Zillow expects mortgage rates to gradually ease later this year, forecasting they will end 2026 at around 6.4%, though that would still be above where they ended last year.

(YWN World Headquarters – NYC)

WASHINGTON (VINnews) – Treasury Secretary Scott Bessent disclosed publicly for the first time Thursday that he was the target of an alleged assassination plot just hours after being sworn into office.

Speaking at a State Department ministerial on political terrorism, Bessent said he was the subject of an alleged assassination attempt “two hours after being sworn into my job,” adding that the case demonstrates that politically motivated violence remains a real threat.

Scott Bessent: “I'm going to remind the media that I was the subject of an assassination attempt February 2024by an adult left-wing activist two hours after being sworn into my job

“So any of you who want to report that this is a fiction and does not exist, be there for the… pic.twitter.com/MOZHfirMkG

— MCBN (@MCBNNEWSS) July 16, 2026

Federal prosecutors have charged Ryan Michael English, 24, of Massachusetts, in connection with the alleged plot. According to the Justice Department, English traveled to the U.S. Capitol on Jan. 27, 2025, carrying a folding knife and two improvised Molotov cocktails with the intention of killing a Cabinet nominee whose Senate confirmation vote was scheduled that day.

English later pleaded guilty to federal charges, including unlawful receipt, possession and transfer of a firearm and carrying a dangerous weapon or incendiary device on U.S. Capitol grounds. He is scheduled to be sentenced in August.

Bessent made the remarks while defending the Trump administration’s efforts to combat politically motivated violence and expand investigations into financial networks that officials say support violent extremist groups.

JERUSALEM (VINnews) — Israel’s ministerial committee overseeing the Shin Bet approved lifetime security protection for Prime Minister Benjamin Netanyahu and his wife, Sara Netanyahu, according to Israeli media reports Thursday.

The decision, reportedly based on a recommendation from Shin Bet Director David Zini, provides the couple with permanent security regardless of whether Netanyahu remains in office.

The committee also approved extending security for the Netanyahus’ children, including a personal vehicle and driver, for an additional five years.

According to Channel 12, the move followed pressure from Netanyahu’s associates and went against the position of security professionals, who reportedly argued that protection should continue to be based on ongoing threat assessments.

The Israeli government has not publicly detailed the reasoning behind the decision.

Half of the country’s small business owners expect their revenue to rise over the next three months — the highest reading this year — even as their confidence in the broader economy collapsed to 24%, according to the Q3 Business Pulse survey released June 30 by Citizens Financial Group. Three months earlier, 36% said they were extremely or very confident in the U.S. economy.

Read those two numbers together and they look like a contradiction. They aren’t. They are two different questions, and owners are answering the one they can actually see.

Mark Valentino, head of business banking at Citizens, framed it plainly: “Small business owners are proving they can hold their own,” he said, arguing the split points to opportunity for operators willing to stay nimble rather than wait for conditions to improve.

What owners are actually worried about

Cost is the answer, and it isn’t close. 51% of owners named rising costs and inflation as their biggest challenge, ahead of economic uncertainty at 43% and finding and keeping customers at 39%.

The timing matters. The survey ran from June 1 to June 18 — squarely inside a stretch when energy prices were driving inflation and the war with Iran was reshaping fuel costs. For a business owner in Passaic or New Rochelle, “the economy” is a headline. The electric bill is a number on a desk. That gap is what the survey is measuring.

Citizens polled 500 business principals — owners, founders, partners, chief executives and presidents — and weighted results by company size to reflect the national small business population. The quarterly survey tracks near-term expectations for revenue, hiring, spending, credit usage and business challenges. It replaced the bank’s former Business Conditions Index, which drew on the bank’s own internal data rather than asking owners directly.

Hiring and borrowing plans held steady. Owners are not retrenching. They are also not surging.

How this reads against six months ago

The Q1 survey, conducted back in November 2025, was considerably more bullish. Then, 64% of smaller companies with revenue between $500,000 and $4.9 million expected revenue growth in the coming quarter, and 86% of middle-market firms above $5 million said the same. 68% of middle-market companies said they were confident in the economy. 41% planned to add headcount, and fewer than 3% planned to cut full-time staff.

Half the small business field expecting growth now is an improvement over the rest of 2026 — but the confidence figure has been moving the other way all year. Owners have downgraded their view of the country while upgrading their view of themselves.

The tri-state overlay

Nothing in the survey is specific to New York, New Jersey or Connecticut, but the cost pressure it identifies lands hardest here.

New York City inflation ran 5.1% in May against 4.2% nationally, with energy prices the primary driver, according to the Office of the New York City Comptroller. New York State electricity prices are the sixth highest in the country. Con Edison delivery rates rise again in 2027 and 2028 under the schedule approved by the Public Service Commission.

New Jersey has its own version. The New Jersey Chamber of Commerce said the state slipped from 30th to 31st in this year’s CNBC business rankings, with New York, Pennsylvania and Connecticut all placing ahead of it. NJBIA President and CEO Michele Siekerka has argued the state’s core problem is not any single cost but the absence of predictability — owners cannot plan when the rules keep moving.

Trenton is nibbling at the edges. Business formation fees dropped $25 on July 1 under P.L.2026, c.24, cutting the cost of filing a Certificate of Incorporation from $125 to $100. That is real money to nobody, and the state itself pegs the revenue loss at $4.1 million. It is a gesture, not a fix.

What to do with this

For a bank with $227.9 billion in assets and roughly 1,000 branches across 14 states, this survey is a lending signal: demand for credit is stable, appetite for expansion is real, and the constraint is margin, not confidence.

For an owner in the tri-state area, the useful takeaway is narrower. The businesses reporting growth are not the ones who correctly predicted the economy. They are the ones who stopped trying to, and went to work on the costs sitting in front of them.

JBizNews Desk | New Jersey © JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

A Hamas operative identified by Palestinian reports as Anas Mahmoud Ahmed Nimer Hamdan, the terror group’s military spokesman for its Khan Younis Brigade, was reportedly eliminated Thursday in an Israeli airstrike targeting a vehicle in the Al-Mawasi area west of Khan Younis in southern Gaza.

According to the reports, Hamdan also was the son-in-law of Rafaa Salameh, the former commander of Hamas’ Khan Younis Brigade, who was eliminated alongside Hamas military chief Mohammed Deif nearly two years ago.

Separately, the IDF announced that overnight operations in central Gaza destroyed four Hamas weapons depots containing Kalashnikov rifles, RPG launchers, grenades, explosive devices, and additional combat equipment.

The military said the weapons were intended for use in attacks against IDF troops operating in the area and against Israeli civilians. The weapons caches were destroyed to eliminate the threat, the IDF said.

(YWN World Headquarters – NYC)

This year’s Bein Hazemanim in the month of Av is expected to mark one of the busiest wedding seasons in the history of Yeshivas Ponevezh, with more than 50 bochurim from the yeshivah scheduled to marry over the course of the break.

The unusually large concentration of weddings stems from the longstanding directive established by the rosh yeshivah, Rav Elazar Menachem Man Shach zt”l, discouraging weddings during the month of Elul. Because Elul is devoted to preparation for the Yamim Nora’im and marks the beginning of one of the most intensive periods of the yeshivah year, weddings have traditionally been concentrated during Bein Hazemanim instead.

Among the most prominent celebrations will be several weddings involving members of the yeshivah‘s leadership. On the first day of Bein Hazemanim, the son of the mashgiach, Rav Avrohom Rothschild, will marry a great-granddaughter of Rav Avrohom Noach Garbuz zt”l. On the final day of Bein Hazemanim, the son of Rav Reuven Shmulevitz will wed.

Additional notable weddings include the grandson of Rav Boruch Elyashiv, head of the Tiferes Bochurim kollel network, and great-grandson of Rav Aryeh Shmulevitz zt”l, one of the senior roshei yeshivah of the Mir, who will marry a granddaughter of Rav Gershon Yosef Levi, son-in-law of Rav Aharon Feldman, rosh yeshiva of Yeshivas Ner Yisroel of Baltimore.

Also scheduled are the wedding of a granddaughter of Rav Moshe Shmulevitz to the son of Rav Melech, a maggid shiur at Yeshivas Daas Tevunos in Bnei Brak; the wedding of a great-great-grandson of the gaon av beis din of Kiryat Sefer, Rav Meir Kessler, and grandson of Rav Shmuel Meir Walach zt”l to a granddaughter of Rav Yaakov Marmarosh, rav of Bnei Brak’s Shikun Gimmel neighborhood; and the wedding of the daughter of Rav Aryeh Zelivansky, rosh yeshivah of Yeshivas Meor HaTalmud, to a grandson of Rav Shmuel Chaim Soloveitchik, head of the Vaad HaKashrus of the Eidah HaChareidis.

Meanwhile, the exceptionally busy wedding season has led to an innovative transportation solution among the bochurim. As has become customary in recent years, rather than each chosson arranging and paying for chartered buses to transport guests from around the country, many are purchasing monthly unlimited public transportation passes for bochurim who commit to attending a designated number of weddings throughout Bein Hazemanim. This system has significantly reduced transportation costs while making it easier for friends to participate in the unusually large number of simchos this summer.

{Matzav.com}

Mortgage rates rose this week to the highest level in nearly a year, mortgage buyer Freddie Mac said Thursday.

Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage climbed to 6.55% – the highest level since August 2025 – from last week’s reading of 6.49%. 

The average rate on a 30-year loan was 6.75% a year ago.

“Purchase application demand has weakened recently, but housing affordability is more favorable and housing inventory continues to rise, thus the backdrop for prospective homebuyers is modestly improving,” said Freddie Mac chief economist Sam Khater.

The average rate on a 15-year fixed mortgage rose to 5.93% from last week’s reading of 5.82%.

Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.57% as of Friday afternoon.

WASHINGTON (AP) — Officials under President Donald Trump want to make it easier for men to get a prescription for testosterone, the latest shift in a decades-long debate over the benefits and risks of replacing the hormone that affects sex drive, mood and other health factors.

The move, backed by Health Secretary Robert F. Kennedy Jr. and other top officials, aligns with the advice of many online influencers and podcasters, including men’s health gurus who tout the hormone as a way to boost muscle and energy. On Tuesday, Defense Secretary Pete Hegseth said the military would begin screening for low testosterone and offering the hormone as a way to help troops operate at their “absolute best.”

The notion of testosterone as an all-purpose elixir for strength and vitality is not supported by the science. But medical experts say a decade of new research has bolstered the case for testosterone’s benefits for sexual health while allaying concerns about its impact on the heart.

“Many providers have been trained for years that these were real issues, and they were scared to get a testosterone reading from a patient or offer them testosterone therapy,” said Dr. Justin Dubin, a urologist at Baptist Health Miami Cancer Institute.

Last year, the Food and Drug Administration removed a bold safety warning about possible heart risks with testosterone pills, gels, injections and patches, based on recent data that showed no increase in those problems.

Last month, the agency proposed rewriting prescribing instructions to clear the way for using testosterone against age-related symptoms, such as low libido and erectile dysfunction. Currently the label emphasizes that the hormone is only approved for abnormally low testosterone levels caused by serious medical conditions or injury.

But experts who prescribe the drug say those patients are a small segment of people seeking help.

“The majority of people we see in our office are regular men complaining of these common symptoms because they’re dramatically affecting their quality of life,” said Dr. Helen Bernie, a urologist and director of sexual health at Indiana University.

Testosterone use has evolved over decades
Testosterone was first approved in the 1950s to treat hypogonadism, a condition defined by low testosterone levels caused by medical problems affecting the testes or other organs.

Testosterone declines naturally with age and can effect sexual function, mood, bone density and other measures. The question of how to diagnose and treat men with those issues has long been debated by researchers.

“These symptoms overlap with symptoms of human aging in men, so there’s a high risk of misdiagnosis and that’s led to the controversy” said Dr. Shalender Bhasin, of Harvard Medical School, who has co-authored several recent testosterone studies and guidelines.

Bhasin says increased willingness to prescribe testosterone reflects growing acceptance of the seriousness of men’s sexual health problems, beginning with the introduction of Viagra for erectile dysfunction in the 1990s.

Bhasin helped write the Endocrine Society’s current guidelines for testosterone, which recommend discussing testosterone with men who have documented symptoms and two blood test results confirming low hormone levels. One recent study by Michigan researchers found that just 12% of men getting a prescription met that criteria.

Prescriptions previously soared, despite little evidence
The potential for overprescribing testosterone is real and helped lead to current restrictions.

In the early 2010s, drugmakers spent millions on TV ads for gels, patches and other products promising relief from “low T,” including a laundry list of symptoms like fatigue, muscle loss, brain fog and weight gain.

By 2013, the drugs were generating more than $2 billion in sales annually, despite lacking FDA approval for most of the issues described. Doctors remain free to prescribe drugs off-label, or for unapproved uses, and many men today continue taking testosterone because they believe it improves energy, mood and appearance.

In 2015, the FDA hit drugmakers with a double whammy: They had to clarify that their drugs weren’t approved for routine problems and also add a boxed warning about possible heart risks.

FDA scrutiny led to new research
The FDA now says updated data warrants relaxing the restrictions.

An FDA-mandated study published in 2023 followed 5,000 men with a history of heart disease, with half receiving daily testosterone gel and the other half getting a sham drug. After two years there was no difference in heart attack, stroke and related problems between the two groups.

A series of studies by the National Institutes of Health also clarified the benefits of the hormone. Results from nearly 800 older men showed testosterone therapy improved erectile dysfunction, libido and other sexual measures and had a small effect on mood. There was little or no improvement in other measures like fatigue, memory or overall well-being.

The recent testosterone studies are the largest ever conducted, but Bhasin — who helped lead both efforts — says more research is needed on longer-term effects.

“I think FDA’s label changes are very welcome and they are bringing us a big step forward,” said Bhasin, who also co-authored the Endocrine Society’s guidelines. “But I think there’s a lot more to be done to better define the safety and efficacy.”

In recent comments submitted to the FDA, the Endocrine Society recommended studies of 15 to 20 years to assess conditions that evolve slowly, including prostate cancer, which remains a concern when prescribing testosterone.

Some men should not get testosterone
Experts agree that men who are hoping to have children in the near future shouldn’t take the hormone. Getting testosterone from a pill or gel shuts off the body’s natural process for making the hormone.

“It can stop the signal from your brain to your testicles to make testosterone, and so you stop making sperm,” Dubin said. “That can compromise fertility.”

Most guidelines also recommend careful consideration for men who have had prostate cancer or are at risk of the disease, given lingering questions about whether hormone therapy hastens tumor growth. But guidelines may soon change.

The FDA has proposed new language that would only suggest that men whose prostate cancer has spread to other parts of the body should avoid testosterone.

Be wary of online promotions
Dietary supplements promoted online to boost testosterone should be avoided because they aren’t FDA approved and probably don’t work.

FDA-approved testosterone drugs come in a variety of forms. Gels and pills generally need to be used daily. Injections, patches and implantable pellets can last for weeks or several months.

Many of these medications are available through telehealth services, though accessing them that way can have risks.

A 2022 paper by Dubin found that only 1 in 7 online prescribing companies asked basic screening questions, including whether men planned to have children. And most of the companies did not have a testing threshold for whether patients actually had low testosterone.

Smoke drifting south from wildfires burning in western Ontario pushed parts of New York City into the “Unhealthy” category on the Air Quality Index (AQI) Wednesday, July 15, as New York Governor Kathy Hochul warned that wildfire smoke combined with dangerous heat would create hazardous conditions across the state. The New York State Department of Environmental Conservation (DEC) expanded its Air Quality Health Advisory for fine particulate matter (PM2.5) to cover all regions of New York, with western portions of the state expected to experience the greatest impacts.

“Smoke and haze from Canadian wildfires are creating unhealthy air conditions,” Hochul said as she urged residents, particularly those with respiratory or heart conditions, to limit outdoor activity.

By midday, AirNow, the U.S. Environmental Protection Agency’s official air-quality reporting system, showed portions of New York City reaching the Red AQI category (151–200), classified as “Unhealthy,” meaning everyone may begin experiencing health effects while sensitive groups face greater risk. Other parts of the state remained in the Orange (“Unhealthy for Sensitive Groups”) category.

The smoke arrived during another intense summer heat wave. New York City Emergency Management and the Department of Health and Mental Hygiene warned residents that Wednesday would likely be the hottest day of the week, with temperatures approaching 100°F and heat index values between 102°F and 103°F. The National Weather Service forecast heat index readings reaching 104°F across portions of the metropolitan area, with temperatures remaining in the 90s through Friday.

To help residents reduce exposure, New York City distributed free KN95 masks at public library branches throughout the five boroughs. Mayor Zohran Mamdani encouraged residents experiencing breathing difficulties to remain indoors whenever possible and follow the same precautions recommended for the ongoing heat emergency.

The Grid Is the Business Story

Beyond the public health concerns, the combination of extreme heat and heavy electricity demand placed significant pressure on the regional power grid.

PJM Interconnection, the nation’s largest electric grid operator serving approximately 67 million people across 13 states and the District of Columbia, projected Wednesday’s peak electricity demand at roughly 164,553 megawatts (MW)—the highest load forecast of the week and within about 1,000 MW of its historic record.

PJM responded by issuing both a Maximum Generation Alert and a Load Management Alert for July 15.

The Maximum Generation Alert directs power plant operators to postpone maintenance and keep as many generating units available as possible. The Load Management Alert notifies customers participating in demand-response programs that they may be asked to reduce electricity consumption if system conditions worsen.

In addition, PJM expanded its Hot Weather Alert across its entire service territory through at least July 17.

To further strengthen system reliability, PJM requested emergency authority from the U.S. Department of Energy through July 21, seeking temporary relief from certain environmental operating limits and authorization to dispatch backup generating resources if necessary.

The request comes only weeks after PJM established a new all-time electricity demand record of approximately 168,158 MW on July 2, surpassing the previous record of 165,563 MW, which had stood since August 2, 2006.

During that earlier heat event, the New York Independent System Operator (NYISO) also declared an Energy Watch as high temperatures tightened reserve margins, although New York maintained reliable electric service throughout the event.

What It Costs

Extreme weather events increasingly carry measurable economic consequences.

During PJM’s July 2 demand record, day-ahead wholesale electricity prices exceeded $2,000 per megawatt-hour in portions of the system. The Western Hub benchmark settled at $1,222.75 per megawatt-hour, nearly three times comparable peak pricing seen during the summer of 2025.

Businesses purchasing electricity under variable-rate contracts or subject to demand charges can experience immediate increases in operating costs during such events.

Meanwhile, PJM’s most recent capacity auction cleared at a record $333.44 per megawatt-day, compared with just $28.92 three auctions earlier. Independent market monitor Monitoring Analytics estimated that approximately 63 percent of the increase is attributable to growing electricity demand from data centers, adding roughly $9.3 billion in costs ultimately borne by consumers and businesses.

Wildfire smoke and extreme heat also reduce productivity throughout the broader economy. Construction crews, delivery services, outdoor retailers and restaurants all face reduced operating hours and increased safety precautions.

Westchester County Health Commissioner Dr. Sherlita Amler urged employers whose employees must work outdoors to schedule frequent breaks, provide hydration and monitor workers for signs of heat-related illness.

Officials stressed that current forecasts do not indicate a repeat of the historic June 2023 Canadian wildfire event, when New York City’s AQI briefly reached 465, among the worst air quality readings ever recorded in the city.

JBizNews Desk | New York

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

Three kedoshei elyon had one common concept when it came to learning Torah – they were the Ohr Hachaim Hakadosh (Rabbi Chaim ibn Attar 1696-1743) when he came to Eretz Yisroel; the Ramchal (Rabbi Moshe Chaim Luzzatto 1707-1746) when he lived in Padua, Italy;  and Hagaon, Harav Chaim Volozhiner, (1749-1821) the famous talmid of the Gaon of Vilna.

They each had a yeshiva with ‘around-the-clock’ Torah learning, 24-hours a day, so that there would be no minute when the sound of Torah learning would not be heard in this world. The 24-hour period would be divided into shifts, and as one ended the next would begin.

Torah-24

A “Torah-24” Center has been opened in Yerushalayim and the Nasi is Maran Sar Hatorah, Harav Chaim Kanievsky, zt”l.

Under ONE ROOF, from 6:00 am – 6:00 am, 10 kollelim fill successive learning shifts. Each kollel focuses on a specific area of in-depth Torah study. The “Torah-24” Kollelim include: Boker (Gemora), Yerushalmi, Bavli, Zeraim-Taharot, Dalet Chelkei Shulchan Aruch, Erev (Gemora), Chatzos- Zohar/Kabbolah, Erev Shabbos (Chumash / Medrash b’iyun).

Already there are 52 avreichim metzuyonim, and a large number of candidates are vying for the remaining slots in the kollelim. All the avreichim are required to take rigorous monthly tests.

Endorsements & Letters

Endorsements include Maranan Hagaonim shlit”a: Harav Gershon Edelstein, Harav Berel Povarsky, Harav Shimon Badani, Harav Dovid Cohen, Harav Boruch Mordechai Ezrachi, Harav Chaim Feinstein, Harav Shimon Galai, Harav Shraga Shteinman.

Letters of support-encouragement have been received from Maranan Hagaonim, shlit”a: Hamekubal Harav David Bazri, Hamashpia Hagadol Reb Elimelech Biderman, Hamekubal Harav Yaakov Meir Schechter, Harav Moishe Sternbuch, Harav Yitzchak Tuvia Weiss.

For more “Torah-24” information click on: www.torah-24.com or call 718-766-5022

MIAMI (AP) — The Trump administration is reviving a rule that could deny green cards to immigrants who use public benefits that could include food stamps, Medicaid, housing vouchers and others.

The policy, known as “public charge,” appeared on Thursday in the Federal Register and will be formally published on July 20.

The policy was first implemented in February 2020 as one of President Donald Trump’s moves to limit legal immigration during his first administration, but it was reversed after Democratic President Joe Biden came to power.

Under the policy, applicants for green cards have to show they wouldn’t be burdens to the country or “public charges.”

Its return comes when the Republican administration is implementing a hardline policy to curb both illegal and legal immigration, and when the cost of healthcare and food is rising.

The federal government “is reaffirming the requirement of self-reliance, protecting public resources and ending policies that encouraged dependency on the backs of hard-working American taxpayers,” U.S. Citizenship and Immigration Services said in a post published on its X account.

“Under President Trump, USCIS is restoring the basic principle that immigrants must be able to support themselves,” the post said. The agency said the rule will take effect Sept. 18.

While the administration’s crackdown on immigration has an increased focus on deportations and immigration enforcement in cities across the country and at borders and entry points, it has also taken actions that target legal immigrants and mixed status families.

Federal law already requires those seeking permanent residency or legal status to demonstrate that they will not become a public charge. The Trump administration’s rule, however, includes a broader range of programs that could disqualify them.

The Trump administration first promoted the rule in 2018 as a way to ensure that only those who were self-sufficient came to the U.S. Immigrant rights advocates criticized it, saying it amounted to a “wealth test.” Public health experts said it would lead to worse health outcomes.

Nongovernmental organizations said the policy generated confusion and fear and caused many immigrants and their U.S.-born relatives to decide not to apply for benefits and services to which they were entitled.

As Bein Hazemanim approaches, organizers of summer camps for yeshivah bochurim in Israel say that preparations are moving ahead despite ongoing concerns over the possibility of arrests under Israel’s military draft law. They say the decision to continue the programs was made following consultation with leading gedolei Yisrael.

Speaking on Kol Chai Radio’s Tzav Ma’atzar program, camp director Moishy Safra discussed this year’s preparations with host Gudi Silman. Asked whether buses filled with bochurim could face police inspections or arrests while traveling, Safra said the issue had been carefully weighed by gedolei Yisrael, who concluded that the camps should proceed.

“The decision was that, at this point, the concern is not so significant. Certainly when traveling as a large group, the level of concern is not great,” Sapra said.

According to Safra, interest in attending the camps is actually stronger this year than in previous summers.

“There is a greater desire among the bochurim to go out,” he said, explaining that the war and security situation had significantly limited recreational outings in recent years, leaving many eager to take advantage of Bein Hazemanim this summer.

He added that, in his view, gedolei Yisrael place particular importance on the camps this year because “the bochurim need it more,” and because they want “to give the bochurim the feeling that they deserve it,” amid the public debate and the difficult circumstances confronting bnei yeshivah.

Safra also addressed the financial challenges facing many yeshivos following reductions in government funding.

“Clearly it has an impact,” he said, noting that “everything now requires more thought” in order to maximize limited financial resources.

Despite rising costs, he said the camps will continue operating this year, although participants in many cases will face higher fees. At the same time, organizations and private donors have stepped forward to help offset expenses.

“There are various sponsorships… because supporting yeshivah bochurim will strengthen the yeshivah bochurim, without question,” he said.

Silman used the interview to encourage business owners, swimming pools, adventure parks, and other organizations to support the camps financially and assist bnei yeshivah.

“We want to uplift the yeshivah bochurim,” he said.

Safra added that organizers currently do not anticipate significant problems with outings or trips because of potential arrests. However, he noted that the camps’ programming has been adjusted this year. In addition to the traditional recreational activities, the schedule now includes expanded Torah programming, inspirational talks, and kumzitzen focused on strengthening bochurim spiritually and helping them navigate the challenges they currently face.

While acknowledging that this year’s atmosphere is different and the circumstances more complex, Safra said the goal remains to conduct the camps in much the same format as in previous years, providing bochurim with a meaningful and uplifting framework during Bein Hazemanim while fostering confidence, encouragement, and spiritual growth.

{Matzav.com}

New Jersey voters continue to overwhelmingly support the state’s ban on self-service gasoline, with little change in public opinion over the past 14 years, according to a new Fairleigh Dickinson University poll.

The survey, released today found that 64% of registered voters want to keep New Jersey’s longstanding requirement that gas station attendants pump fuel for customers, while 24% favor allowing drivers to pump their own gas. Those results are virtually unchanged from a 2012 FDU poll, when 63% supported maintaining full-service stations and 23% backed self-service.

New Jersey is the only state in the nation that still requires full-service gasoline stations statewide.

“At a time when everything seems unstable, it’s good to know that there are some things that just don’t change,” Dan Cassino, executive director of the FDU Poll, said in a statement. “New Jersey voters have never wanted to pump their own gas, and they still don’t want to pump their own gas.”

The poll found notable differences across demographic groups.

Women were considerably more likely than men to support the current law, with 74% favoring full-service compared with 56% of men. Even so, a majority of men said they preferred keeping attendants at the pump.

Cassino suggested the gender gap could reflect differing attitudes toward pumping gas.

“In the past, full-service gas has been seen as a safety measure for women,” he said. “But the gap between men and women could also just be men saying that they like doing things with their cars.”

Younger voters were slightly more supportive of full-service than older residents. Sixty-eight percent of voters age 30 and younger favored keeping the current system, compared with 61% of seniors.

The survey also found Democrats were somewhat more likely than Republicans to support maintaining the state’s full-service requirement, though the poll said that difference appeared to be largely explained by differences in age and gender rather than political affiliation itself.

New Jersey lawmakers have periodically proposed allowing self-service gasoline, often arguing that it could reduce prices or give motorists more options. Previous efforts have failed amid strong public opposition and concerns from gas station operators and attendants about potential job losses.

The latest poll suggests that resistance to changing the law remains firmly entrenched, despite New Jersey’s status as the nation’s lone holdout on mandatory full-service gasoline.

Fossil Group plans to close up to 15 stores this year as the watch and accessories company continues trimming its global retail footprint under a broader turnaround plan focused on costs, profitability and balance-sheet strength.

Executives for the Richardson, Texas-based company said on Fossil’s first-quarter earnings call that the company shuttered seven stores during the quarter and expects total closures to reach up to 15 locations in 2026. The closures would leave Fossil with about 185 stores globally by the end of the year, Chief Financial Officer Randy Greben told investors.

The store cuts come as Fossil works to stabilize its business after years of pressure on sales. The company reported first-quarter net sales of $224.8 million, down from $233.3 million a year earlier. Its net loss attributable to Fossil Group narrowed to about $810,000 from $17.6 million in the prior-year quarter, while operating income improved to $12 million from an operating loss of $6.7 million.

Fossil had 193 stores worldwide as of April 4, down from 220 a year earlier, according to its latest quarterly filing. The company closed 28 stores and opened one over that period, leaving it with 92 stores in the Americas, 47 in Europe and 54 in Asia.

The company has already made a larger pullback from brick-and-mortar retail. Fossil said in its annual filing that it closed 49 underperforming retail stores in fiscal 2025 as part of a turnaround plan aimed at refocusing the company on its core business, rightsizing its cost structure and strengthening its balance sheet.

Fossil’s turnaround plan also included a corporate workforce reduction and the transition of certain smaller international markets to a distributor model. The company said those moves helped it achieve about $100 million in selling, general and administrative cost savings in fiscal 2025 compared with fiscal 2024.

The company is not abandoning stores altogether. CEO Franco Fogliato told investors that Fossil had “significantly scaled back” its downsizing plan because of improved performance in full-price stores. Fossil has also said its 2026 strategy includes reducing the pace of store closures while focusing on profitable growth, operating-model improvements and shareholder value.

Still, Fossil has acknowledged risks tied to physical retail. In its annual filing, the company said traffic to its stores depends heavily on the success of the malls and retail centers where they are located. Fossil warned that declining mall traffic, anchor-store closures or the closure of a significant number of malls where it operates could weigh on its results.

Fossil’s products are sold in about 132 countries through company-owned sales subsidiaries and independent distributors. As of Jan. 3, the company operated 88 retail stores and 111 outlet stores, primarily under the Fossil brand.

FOX Business reached out to Fossil Group for comment.

Syrian authorities announced Thursday that they had intercepted a shipment of weapons and missiles being smuggled across the Syrian-Iraqi border, saying an initial investigation indicates the cargo was ultimately destined for Hezbollah in Lebanon.

According to Syria’s state-run SANA news agency, security forces seized the shipment during an anti-smuggling operation as part of Damascus’ ongoing campaign to combat illegal arms trafficking. Officials said the weapons were intended to transit through Syrian territory before reaching Hezbollah.

Authorities did not disclose where the shipment was intercepted, the types or quantities of weapons seized, or whether any suspects were arrested. Officials said the investigation remains ongoing to determine who was behind the smuggling operation and its full scope.

The interception comes as Syrian authorities have tightened security along border crossings amid heightened regional tensions and the expanding conflict involving the United States and Iran. In recent months, Syria has repeatedly announced the seizure of weapons shipments allegedly bound for Lebanon through smuggling networks operating along its borders.

(YWN World Headquarters – NYC)

A civil lawsuit seeking NIS 65,000 has been filed in the Jerusalem Magistrate’s Court against an Arab man previously convicted of carrying out an antisemitic attack on a Chareidi Jew walking to the Kosel Hamaaravi.

According to the lawsuit, filed by attorney Chaim Bleicher and legal intern Tom Nissani of the Honenu legal aid organization, the attack took place in September 2019. The victim and a friend, both visibly Chareidi, were walking along Jerusalem Boulevard on their way to the Kosel when they were suddenly targeted without any prior interaction or provocation.

The lawsuit states that the attacker, who was walking a short distance behind them, threw small marble-sized objects at the pair three times out of hostility toward them because they were Jewish. One of the objects struck the victim in the neck and shoulder, causing pain.

The assailant was later indicted and, in March 2023, convicted as part of a plea agreement on a charge of assault motivated by racism. The Jerusalem Magistrate’s Court sentenced him to five months of community service, a four-month suspended prison sentence, and ordered him to pay the victim NIS 2,000 in compensation.

The new civil lawsuit argues that the victim continues to suffer emotional harm, including humiliation, anxiety, and an ongoing fear of being attacked again. According to the filing, the incident has left him constantly on alert and struggling with fears that affect his daily life.

The lawsuit seeks NIS 40,000 for pain and suffering, along with an additional NIS 25,000 in punitive damages, arguing that the antisemitic nature of the attack warrants enhanced compensation.

Tom Nissani of Honenu said the lawsuit sends a clear message: “Anyone who attacks Jews will pay the price. Honenu will continue working to ensure that those who assault innocent civilians on the streets of Israel are held fully accountable.”

(YWN World Headquarters – NYC)

A federal nutrition program that helps nearly 7 million mothers and young children buy healthy food is facing cuts that could hit family grocery budgets and the stores that serve them. The fiscal 2027 Agriculture appropriations bill, released this spring by House Agriculture Appropriations Subcommittee Chairman Andy Harris, would reduce the fruit and vegetable benefit in the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) and trim the program’s overall funding. For the second year in a row, the proposal has put one of the country’s most established nutrition programs at the center of a budget fight.

The stakes are concrete. Analysts at the Center on Budget and Policy Priorities estimate the House proposal would strip more than $141 million in fruit and vegetable benefits from about 5.4 million toddlers, preschoolers, and pregnant and postpartum participants. The bill also cuts WIC funding by $200 million compared with the current year, a reduction the center warns could force the program to turn away eligible families for the first time in three decades if food costs rise or enrollment grows.

The benefit at issue is what the program calls the cash value benefit, a monthly allowance that participants can spend only on fresh, frozen, canned, or dried produce. In the current fiscal year, children receive $26 a month for fruits and vegetables, pregnant and postpartum participants $48, and breastfeeding participants $52. Those amounts were roughly tripled from earlier levels through pandemic-era legislation and later made permanent, a change research shows led participants to buy significantly more produce.

President Donald Trump’s budget request sought a steeper reduction — a 75% cut to the produce benefit — before House appropriators pared that back to about 10%. Even the smaller cut, advocates argue, would undermine the science-based design of WIC’s food package, which aims to provide only about half of a child’s recommended fruit and vegetable intake even at current benefit levels.

The business implications reach beyond the program’s participants. WIC dollars flow directly to grocers and supermarkets, and reduced benefits mean less revenue for the retailers that stock the shelves, particularly smaller stores in rural areas that depend on the program’s customers. Federal stocking rules already require vendors to carry minimum varieties of produce, and any change in benefit levels ripples through their purchasing and inventory decisions.

Timing adds urgency. The bill also fails to make permanent the virtual-service options — phone and video appointments — that expanded during the pandemic and helped working parents and rural families stay enrolled. Those flexibilities are set to expire as soon as September 30, which advocates warn could force families with young children to take time off work and arrange transportation for in-person visits four or more times a year. One study estimated the virtual options increased participation by 11%.

The U.S. Department of Agriculture, which runs WIC under Secretary Brooke Rollins, has separately announced a reorganization of the office that administers the program, relocating staff to regional hubs including Kansas City, Missouri. The department says the changes will improve customer service without disrupting operations, but nutrition advocates worry the move could cost experienced staff, pointing to productivity losses when the agency relocated other divisions during the first Trump administration.

For families, the squeeze arrives at a difficult moment. Food prices remain elevated, and both tariffs and the renewed conflict in the Middle East could push grocery costs higher through their effect on oil. The Center on Budget and Policy Priorities notes that cuts to WIC would force affected families to spend more of their own money to give their children the same amount of produce — money many simply do not have as savings rates sit near multiyear lows.

WIC has long enjoyed bipartisan support, and Congress rejected a similar cut last year, with the Senate restoring funding before the bill passed. Whether that pattern repeats will be decided as the appropriations process moves forward. For now, millions of families and the grocers who serve them are watching a benefit that helps put fruits and vegetables on the table hang in the balance.

This article covers a policy affecting food assistance; families who need help affording groceries can dial 211 or contact their state WIC agency to learn about available benefits.

JBizNews Desk | New York
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GENOA, Italy (AP) — An Italian court on Thursday convicted the former CEO of Italy’s main highway operator and 31 others in the 2018 Genoa highway bridge collapse that sent vehicles plunging and killed 43 people, a disaster that exposed serious lapses in the maintenance of Italian infrastructure.

Dozens of family members of the victims packed the courtroom as Chief Judge Paolo Lepri read the verdicts against 57 defendants, including former executives and officials. Many relatives broke down in tears as the sentences were read.

The former chief executive of highway operator Autostrade per l’Italia, Giovanni Castellucci, was sentenced to 12 years in prison, the highest in the case after four years of trial and four hours of deliberations.

Castellucci’s lawyers said they would appeal, noting in a statement that as CEO, their client had relied on Italy’s leading engineers, and that a construction defect had not been detected by experts for over half a century.

“The suffering caused by the Genoa tragedy is immense and deserves respect. But the gravity of the event requires justice to remain based on individual responsibility, not the search for a scapegoat,” they said in a statement.

Also convicted were Autostrade’s former head of maintenance, Michele Donferri Mitelli, who was sentenced to 11 years in prison. The former CEO of the SPEA engineering company, Antonino Galatà, received five years and six months.

Defendants faced charges including negligence resulting in the collapse and manslaughter stemming from failures to maintain the bridge, which was part of a main route linking northern Italy with the French Riviera.

In all, 32 people were convicted and handed sentences ranging from 1 year and 11 months to 12 years. Others were either found not guilty, or lesser charges had expired under the statute of limitations.

“I think it is important that responsibility extends beyond those at the top. Autostrade, SPEA and the Transport Ministry all had roles to play. I hope the state’s responsibility also emerges clearly,” Egle Possetti, who heads a committee to preserve the memory of the bridge victims, told reporters outside the courthouse.

“I lost my sister, her two children, my brother-in-law and even their little dog. That’s where my determination comes from — to make sure they receive justice and that their deaths were not in vain,” she said.

Warning signs of defect were ignored
Shortly before noon on Aug. 14, 2018, a 200-meter (650-foot) section of Genoa’s Morandi highway bridge gave way during a rainstorm, sending dozens of vehicles plunging to the ground.

Images of the collapsed bridge were seen around the world and shocked Italians on one of Italy’s busiest travel days, as millions headed out for the traditional Aug. 15 Ferragosto holiday that marks the peak summer vacation season.

Prosecutors argued that years of maintenance neglect led to the collapse, and demanded combined sentences totaling nearly 400 years for all of the defendants. The defendants denied wrongdoing and say the fault was caused by a construction defect.

Considered an engineering marvel when it opened in 1967, the Morandi featured three A-shaped concrete pylons and concrete-encased stay cables.

Caruso, who represents the family members of three victims, said that the trial showed that warning signs about defects in the pylon that collapsed had existed for decades. He cited maintenance on the other two starting in 1993 that was never extended to the third.

“From 1993 onward, the problem was known. We had three identical pylons. Two had already shown the same defect, and no one seriously asked whether the third one had it as well,” Caruso said.

Autostrade had reached a deal to avoid trial
The current Autostrade chief executive, Arrigo Giana, issued a public apology Thursday in an open letter published in major Italian dailies.

“The actions and decisions of some people left indelible scars,’’ said Giana, who joined Autostrade as CEO last year. “Offering today the apology that was not made then is, for us, a moral imperative that goes beyond establishing legal responsibility and the course of justice toward the truth.”

Autostrade and its subsidiary reached a deal on corporate liability earlier in the proceedings, paying roughly 30 million euros ($34 million) in financial penalties. The agreement spared the companies from a trial as corporate defendants and potentially much harsher sanctions, including exclusion from public contracts.

The settlements were reached after the companies adopted new compliance procedures aimed at preventing similar accidents, and after victims were compensated.

A new bridge designed by Genoa-born Italian architect Renzo Piano opened in 2020, spanning a memorial to the victims of the Morandi Bridge collapse.

Nearly two weeks after the murder of mekubal Rav Amos Guetta zt”l in Netanya, police say they have made a significant breakthrough in the investigation after a suspect who had remained completely silent began speaking following a carefully orchestrated investigative tactic.

According to a report by journalist Lee Ayash of i24NEWS, the suspect, who had consistently exercised his right to remain silent and refused to provide investigators with any version of events, changed his behavior after detectives from the Sharon District Major Crimes Unit carried out an undercover investigative maneuver.

Throughout his interrogations, the suspect reportedly refused to utter a word, acting as though he was unable to speak. Investigators said his only responses consisted of gestures and repeatedly pointing toward the sky.

Police then placed the suspect in a holding area outside the interrogation room without informing him that he was being secretly monitored and recorded.

According to investigators, while waiting, the suspect was offered food and drinks. Unlike his conduct during formal questioning, he responded to questions, carried on a conversation, and even requested a Coca-Cola instead of water. The entire exchange was documented and later presented to him by investigators.

After being confronted with the recorded footage, investigators said the suspect’s demeanor changed, and he began speaking during his official interrogation as well.

Despite that development, police said the suspect has still not provided an account of the murder itself. Instead, his conversations with investigators have focused primarily on religious matters.

Meanwhile, detectives continue to strengthen the evidentiary case. As previously reported, police have also recovered what they believe to be the murder weapon allegedly used in the killing.

{Matzav.com}

WASHINGTON, July 16 — As the White House Office of Management and Budget’s proposed overhaul of the federal grantmaking process continues to generate widespread opposition, the U.S. Department of Health and Human Services has entered the evaluation phase of a separate artificial intelligence initiative built on a different model—one that HHS says is designed to complement traditional federal research through a public-private partnership.

The broader grantmaking proposal drew 496,769 public comments before the deadline. Researchers who analyzed the 52,322 comments publicly available at the time found that approximately 95% opposed the proposal, while roughly 1% supported it. The most common concerns centered on reducing the role of independent scientific peer review, expanding the influence of political appointees over funding decisions, allowing grants to be terminated before completion, and creating uncertainty for universities, hospitals, research institutions, biotechnology companies, nonprofits, and patient advocacy organizations that rely on federal research funding.

Those comments, however, were directed at the Administration’s proposed government-wide grantmaking rule—not at HHS’s LymeX innovation initiative.

At the same time, HHS has officially closed applications for its TOPx AI & Invisible Illness Challenge, moving the competition into the evaluation phase following the July 15 deadline. The challenge seeks breakthrough artificial intelligence solutions for Lyme disease, Long COVID, Myalgic Encephalomyelitis/Chronic Fatigue Syndrome (ME/CFS), Alpha-gal syndrome, and other invisible illnesses by bringing together innovators from healthcare, academia, technology, entrepreneurship, and patient advocacy.

According to HHS, the initiative builds upon the LymeX Innovation Accelerator, a public-private partnership between the Department of Health and Human Services and the Steven & Alexandra Cohen Foundation, originally launched during President Donald Trump’s first term. HHS’s multi-year Lyme disease strategy states that the partnership was established through a $25 million commitment from the Foundation and was designed to complement—not replace—traditional federally funded scientific research. HHS has also previously stated that more than $10 million in LymeX cash prizes have been underwritten by the Foundation as part of the initiative’s innovation prize competitions.

The current TOPx AI & Invisible Illness Challenge, which offers up to $2 million in prizes, is one of the latest initiatives developed under that broader LymeX framework.

Among those participating in the evaluation process is Duvi Honig, Founder and CEO of the Orthodox Jewish Chamber of Commerce, who was appointed to serve on the HHS evaluation panel for the AI & Invisible Illness Challenge.

Honig said the ongoing public debate surrounding federal grantmaking demonstrates the importance of distinguishing between traditional government grant programs and innovation challenges built through public-private collaboration.

“The concerns being raised about the broader federal grantmaking proposal deserve to be heard and debated on their own merits,” Honig said. “At the same time, I respectfully ask whether many people realize the HHS AI & Invisible Illness Challenge follows a different model. HHS has made clear that LymeX is a public-private partnership with the Steven & Alexandra Cohen Foundation that was specifically created to complement traditional federally funded research while accelerating innovation through prize competitions.”

Honig praised HHS Secretary Robert F. Kennedy Jr. for embracing what he described as a collaborative approach to solving some of healthcare’s most difficult challenges.

“I applaud Secretary Kennedy’s leadership for recognizing that government does not have to work alone,” Honig said. “By bringing together federal leadership, private philanthropy, researchers, entrepreneurs, clinicians, artificial intelligence developers, universities, hospitals, nonprofit organizations, industry leaders, and patient advocates, HHS is creating another pathway to identify breakthrough solutions for patients living with invisible illnesses. Public-private partnerships like LymeX expand the innovation ecosystem and encourage the best minds from across the country to compete to solve problems that have challenged patients and physicians for decades.”

Honig said he believes innovation challenges should be viewed as complementary to traditional research funding rather than a replacement for it.

“Patients suffering from Lyme disease, Long COVID, ME/CFS, Alpha-gal syndrome and other invisible illnesses have waited far too long for answers. Every credible pathway that accelerates scientific discovery, responsible artificial intelligence, earlier diagnosis, and better treatments deserves serious consideration. When government, philanthropy, academia and the private sector work together, patients are the ultimate beneficiaries.”

HHS has not yet announced how many applications were submitted for the challenge. The Department is expected to complete the evaluation process in the coming months before selecting finalists and ultimately announcing the winning teams.

JBizNews Desk | Washington

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

The Trump administration moved on Thursday to tighten the duration of visas for foreign students, cultural exchange visitors and journalists, according to a government notice.

The new final rule from the US Department of Homeland Security creates a fixed time period for F visas for international students, J visas that allow visitors on cultural exchange programs to work in the US, and I visas for members of the media. Those visas are currently available for the duration of the program or US-based employment.

The effective date is 60 days from publication in the Federal Register, subject to congressional review.

US President Donald Trump kicked off a wide-ranging immigration crackdown after taking office in January 2025. The latest action would create new hurdles for international students, exchange workers, and foreign journalists.

The Trump administration has increased scrutiny of legal immigration, revoking student visas and green cards of university students over their ideological views and stripping legal status from hundreds of thousands of migrants.

Under the new regulation, the student and exchange visa periods would be no longer than four years. The visa for journalists – which currently can last years – would be up to 240 days or, in the case of Chinese nationals, 90 days.

The visa holders could apply for extensions, it said.

DHS cites rise in visa applications for change in guidelines

The department cited a dramatic rise in such visas in the posting. It said there were more than 1.8 million student visa admissions in 2024, a more than 11% increase over the previous year.

The US granted visas to more than 500,000 exchange visitors and 37,300 members of the media in fiscal year 2024, which began on October 1, 2023, it said.

The significant increase in the volume of such visitors “poses a challenge to DHS’s ability to monitor and oversee these nonimmigrants while they are in the United States,” DHS said.

DHS said it has many examples of students and exchange visitors staying for decades on their visas.

Visa holders who want to stay in the United States beyond their fixed period of admission will need to apply to DHS for an extension or gain readmission by traveling abroad and then re-entering the United States, the new rule said.

This post was originally published on here.

The Republican-controlled House Budget Committee unveiled a 47-page budget resolution on Wednesday, July 15, outlining a $95 billion reconciliation package that would provide $73 billion in new funding over the next decade for defense and intelligence priorities while also directing billions toward agriculture and election administration.

The committee is scheduled to mark up the resolution Thursday morning as House Republican leaders push to move the package through Congress using the budget reconciliation process, allowing the legislation to pass the Senate with a simple majority rather than the traditional 60-vote threshold.

The proposal arrives as Congress continues debating military spending, support for U.S. allies, border security and the growing federal deficit.

Breaking Down the Package

The resolution instructs four House committees to produce legislation by September 11.

The House Armed Services Committee would receive authority to draft legislation providing $60 billion in new defense spending.

The House Permanent Select Committee on Intelligence would receive $13 billion, bringing total national security funding to $73 billion.

The House Agriculture Committee would receive a $12 billion target for agricultural assistance, while the House Administration Committee would receive $10 billion to encourage states to implement portions of the SAVE America Act, including proof-of-citizenship requirements for voter registration and voter identification measures.

While the resolution establishes overall funding targets, it does not specify how individual defense dollars would ultimately be allocated.

Republican leaders have indicated the funding could support replenishing U.S. weapons stockpiles, strengthening military readiness, expanding the defense industrial base and covering costs associated with continuing operations in the Middle East.

Well Below the White House Request

Although substantial, the proposal falls far short of what President Donald Trump requested.

The administration previously sought approximately $350 billion in reconciliation funding as part of a broader $1.5 trillion defense budget proposal for the coming fiscal year.

The House blueprint provides just $73 billion for defense and intelligence priorities—roughly one-fifth of that request.

Equally notable is what the proposal does not include.

The resolution contains no corresponding spending reductions to offset the additional funding, despite repeated Republican pledges to pair new spending with reductions elsewhere in the federal budget.

That omission comes as federal borrowing costs continue climbing.

Net interest payments on the national debt are projected to approach $857 billion this fiscal year, while the federal deficit has already exceeded $1.4 trillion through the first nine months of fiscal 2026.

For businesses, additional federal borrowing ultimately means additional Treasury issuance, influencing long-term interest rates that affect commercial lending, mortgages and corporate financing costs.

A New Path After Senate Gridlock

The proposal also follows a significant setback on Capitol Hill.

One day earlier, Senate Democrats blocked consideration of the National Defense Authorization Act, citing disagreements over defense spending levels and the continuing conflict involving Iran.

The reconciliation package therefore represents an alternative strategy for advancing Republican priorities outside the traditional bipartisan appropriations process.

Whether that strategy succeeds remains uncertain.

Speaker Mike Johnson hopes to move the resolution quickly before Congress enters its August recess, but the legislative calendar continues to tighten ahead of the November midterm elections.

If approved by the House, the measure would become the third reconciliation package considered during this Congress.

Why Agriculture Is Included

The proposal’s $12 billion agriculture provision reflects growing concern over rising production costs facing American farmers.

Earlier Wednesday, the Federal Reserve’s Beige Book reported continued pressure on fertilizer and fuel prices across portions of the Midwest.

Farm operators in the Chicago Federal Reserve district reported purchasing diesel fuel in smaller quantities because of uncertainty over future prices, while some producers shifted acreage from corn to soybeans because corn requires substantially more fertilizer.

Those observations closely mirror arguments made by lawmakers supporting additional agricultural assistance as producers continue facing elevated input costs.

What Businesses Should Watch

Defense contractors will naturally focus on the potential increase in military spending.

Manufacturers serving aerospace, defense and national security industries could benefit if the package ultimately becomes law.

Agricultural suppliers and farm equipment companies will also closely monitor the legislation, particularly if fertilizer and fuel assistance becomes part of the final bill.

For the broader business community, however, the larger issue remains fiscal policy.

Additional federal spending without corresponding offsets increases Treasury borrowing requirements, placing continued pressure on long-term interest rates that directly affect business investment, commercial real estate financing and borrowing costs across the economy.

The House Budget Committee is expected to begin consideration of the proposal Thursday morning, marking the first step in what is likely to become one of Congress’s most closely watched fiscal debates of the summer.

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

JPMorgan Chase CEO Jamie Dimon on Wednesday said there is still a lot of uncertainty over how AI will impact the workforce and people shouldn’t be “breathless” in their concerns as new technologies have historically created new jobs.

Dimon said in a conversation with Sen. Dave McCormick, R-Pa., at the Pennsylvania Defense and Innovation Summit that “we don’t really know” about the impact of AI on the workforce as the emerging technology advances.

“I think people should stop being breathless over it. You know, it’s created a lot of jobs in our company, and yeah, there are areas where it’s reduced jobs a little bit,” Dimon said.

“Technology always creates new jobs. The question is going to be if it happens too fast, somehow, people are adopting it too fast and jobs are being lost – middle-class jobs before they could be retrained to replace,” Dimon said.

“We’re talking about work skills, it’s the exact same thing we should be doing anyway. That is how to fix it,” he added.

“People know, at JPMorgan, we’re going to redeploy our own people. We reskill them, retrain them,” Dimon said. “I think there are fixes for that.”

“I think we’re kind of scaring the whole world much more rapidly than we should about it,” he said.

The JPMorgan Chase CEO said that based on experience within his company, he thinks “we all have to be more rational in how we use some of this.”

“Here’s the choice: do you save money over here because you know that you can do less, or do you simply want to do faster? I’m kind of, of the mindset, do what I want to do faster, give you better stuff quicker,” Dimon said.

“So the headcount won’t go down because I want to make you happier, not less happy. So people should just take a deep breath, but the planning should be around jobs – I think that planning will protect us against too rapid job loss from AI if, in fact, it ever happened,” he added.

(AP) – President Donald Trump’s longtime teleprompter operator is in settlement discussions with federal regulators over allegations that he used advance knowledge of the president’s prepared speeches to profit from prediction market wagers, according to ABC News.

Citing people familiar with the matter, ABC reported that Gabriel Perez, a White House technical assistant who has operated Trump’s teleprompter since the 2016 presidential campaign, allegedly earned more than $100,000 by placing bets on the contents of more than a dozen presidential speeches through the prediction market Kalshi.

The report said the Commodity Futures Trading Commission began investigating after Kalshi flagged suspicious trading activity involving its “Mentions” market, which allows users to wager on whether certain words or topics will appear in public speeches. According to ABC, Kalshi voluntarily referred the trades to federal regulators and has been cooperating with the investigation.

ABC reported that investigators believe Perez placed wagers on several high-profile speeches, including the president’s State of the Union address, remarks at the World Economic Forum in Davos, Switzerland, and other public appearances over a three-month period. Investigators also examined instances in which bets were allegedly adjusted during speeches when Trump departed from prepared remarks, the report said.

White House spokesperson Davis Ingle told ABC that the administration expects all staff members to follow its ethics rules and said Perez is cooperating with the CFTC investigation. A CFTC spokesperson declined to comment, according to the report.

ABC reported that federal prosecutors in Manhattan were informed of the matter but declined to pursue criminal charges. Instead, regulators are discussing a potential civil settlement that could require Perez to forfeit any profits and refrain from similar trading in the future.

Kalshi prohibits users from placing wagers based on confidential information obtained through their employment. The company recently strengthened its compliance policies by requiring users to disclose their employer and has said it is expanding safeguards against insider trading.

Perez remains employed as one of Trump’s teleprompter operators while the matter is being resolved, according to ABC.

NEW YORK — Ordained minister and Heritage Foundation Visiting Fellow Luke Moon, who returned to the conservative think tank to combat antisemitism from both the political right and left, said in a recent interview with Podcaster Alan Skorski that former Fox News host Tucker Carlson ignored his advice and “doubled down on his antisemitism.”

Moon, who has spent the last decade raising awareness about the persecution of Christians in the Middle East and encouraging Christian support for Israel and the Jewish people, made the remarks during an interview with Alan Skorski.

Moon described multiple conversations with Carlson following last year’s controversy, in which Heritage President Kevin Roberts initially declined to distance the organization from Carlson after his interview with Holocaust denier and self-described “groyper” Nick Fuentes. Carlson had sought Moon’s guidance on how to shed the “antisemitism” label.

“After advising Carlson on the necessary steps needed to redeem himself, Tucker doubled down on his antisemitism,” Moon said.

Moon returned to Heritage as a visiting fellow specifically to address rising antisemitism across the ideological spectrum. His work highlights the growing Marxist-Islamist alliance and its implications for Jews, Christians and Western values.

During the interview, Moon addressed the rhetoric of Democratic Socialists of America activists and candidates, including those running for office in Wisconsin. A frequent refrain among them, he noted, is: “None of us are free until Palestine is free.”

“Why is it important for the DSA activists and candidates to declare this idea?” Moon asked. “It is because the liberation of Palestine means the end of Israel. And Israel is a stand-in for God. To destroy Israel is to destroy God which would bring about liberation from God’s commands and expectations.”

Moon described Israel as “the living testimony that the God of the Bible makes promises and keeps them.” The reconstituted Jewish state in its ancient homeland after 2,000 years of exile, he said, is “a provocation to every worldview that denies a sovereign God who acts in history.”

He drew a parallel to 19th-century figures, noting that Karl Marx once identified British revivalist preacher Charles Spurgeon — who was leading thousands of working-class people to faith — as the person he hated most in Britain, because Spurgeon was drawing away potential followers from Marxist ideology.

Similarly, Moon said, Islamists demand total submission to Allah and view the G-d revealed through Israel and the Church as a rival truth claim that must be suppressed. When Islamists gain power, churches and synagogues are often destroyed or converted into museums or government-controlled sites.

Citing the drastic decline of Christian communities in the Middle East, Moon pointed to Iraq, where the Christian population has plummeted from more than 450,000 in 2014 — when he began his advocacy — to fewer than 185,000 today. By contrast, he noted, there are more Christians living in Israel than in Iraq.

Moon’s comments come amid ongoing concerns about antisemitism on both ends of the political spectrum and the complex alliances forming between far-left activists and Islamist groups.

By Y.M. Lowy

As air quality concerns continue across New York City due to the Canadian wildfires, the city is expanding its efforts to help residents protect themselves by making free resources more widely available.

Mayor Zohran Mamdani announced that free KN95 masks will be available at hundreds of locations across the five boroughs, with distribution expanding to every New York Public Library branch in addition to Brooklyn Public Library and Queens Public Library locations.

Masks are also available at all NYPD precincts, select FDNY firehouses, major transit stations, and through partnerships with the Department of Transportation, the Department for the Aging, local council members, and other city agencies.

“The combination of dangerous heat and unhealthy air is a serious threat to New Yorkers’ health,” said Mayor Mamdani. “If you can, stay somewhere cool with air conditioning, limit your time outdoors, drink plenty of water and check on your neighbors — especially older New Yorkers and anyone with a health condition”

The expanded distribution comes as the city continues to encourage residents, especially those with respiratory or heart conditions, older adults, children, and others who are more vulnerable, to take precautions when spending time outdoors.

Former Likud MK Dan Illouz has claimed that roughly one-third of the party’s Knesset faction supported replacing Prime Minister Binyamin Netanyahu in the weeks following the October 7 Hamas massacre, but the effort ultimately collapsed because no agreement could be reached on who would succeed him.

Speaking on the Hebrew-language political podcast 120 VeAhat (“121”), Illouz said the discussions took place several weeks after the massacre, once the immediate shock had subsided. Asked whether there had been an organized effort within Likud to replace Netanyahu, he replied, “Absolutely.” Illouz said at least one-third of the faction believed Israel’s leadership needed to change, but the initiative failed because those involved could not agree on a replacement.

Illouz, who recently announced he is leaving Likud after opposing legislation aimed at strengthening protections for Torah students and limiting enforcement against Chareidi draft evaders, said the issue became his breaking point with the party. He argued that the coalition has abandoned Likud’s traditional principles and accused its leadership of putting political survival ahead of policy. Referring to coalition chairman Ofir Katz, Illouz said, “The coalition whip boasts that we’re completing a full term in office, as if survival is everything.” He added that if preserving the coalition becomes the overriding objective, “then I think this bloc has become an idol.”

While saying Netanyahu bears responsibility for the failures surrounding October 7, Illouz rejected attempts to place all the blame solely on the prime minister. He called for the establishment of a state commission of inquiry to examine the actions of the political leadership, the military, and other institutions, saying responsibility must be determined through a comprehensive investigation.

Illouz also said many of the lawmakers who had once discussed replacing Netanyahu later returned to supporting him. Asked whether Netanyahu could still be replaced if lawmakers agreed on a successor, he responded, “Probably, yes,” while acknowledging that most of those MKs have since rallied behind the prime minister. He added that he has not yet decided whether to join another political party ahead of Israel’s October 27 election.

(YWN World Headquarters – NYC)

The Israeli government on Wednesday approved an additional 39 million shekels to increase the salaries of preschool teachers in Chareidi mukar she’eino rishmi educational networks, adopting a new funding formula that recognizes teachers’ actual years of experience.

Under the new policy, government funding for preschool teachers’ salaries will now be based on each teacher’s actual seniority rather than on a capped average of up to 16 years. For years, the Chareidi preschool networks have been required to pay teachers according to their true seniority, education, and professional rank, while government funding failed to cover those actual costs.

The government resolution allocates 39 million shekels from the Finance Ministry to implement the revised funding model during 2026.

Officials from the Chareidi preschool networks hailed the decision as a historic breakthrough and an important first step toward correcting what they describe as a longstanding funding inequity that had pushed many schools toward financial collapse, threatened the livelihoods of thousands of preschool teachers, and cast uncertainty over the opening of the upcoming school year.

At the same time, the Association of Directors of Mochshar Preschool Networks stressed that the newly approved funding represents only a partial solution. The organization said it will continue pressing the government until Chareidi preschool teachers receive full and equal funding comparable to that provided to teachers in Israel’s general education system.

The campaign was spearheaded by Agudath Israel’s Ganim Network under the leadership of Director-General Yisrael Golomb, together with senior representatives of the Chareidi parties and administrators from other educational institutions.

Golomb welcomed the government’s decision but emphasized that significant work remains.

“The work has not yet been completed, and a long struggle still lies ahead until full funding is provided based on the actual profile of the preschool teachers. Nevertheless, we welcome the recognition of teachers’ seniority and thank everyone who worked on this effort, especially MK Rabbi Moshe Gafni. This is an important first step toward achieving real change.”

Golomb also expressed appreciation to his partners in the campaign, including Yaakov Segal, director-general of the Etz Hadaas educational network, the various school administrators, and CPA Avigail Shikovitzky, thanking them for their determination, dedication, and close partnership throughout the effort.

New Jersey’s Division of Taxation has started mailing Senior Freeze property tax reimbursement checks to more than 188,000 qualifying seniors, with additional rounds of payments to follow for eligible applicants, the state Treasury announced today.

The first round of checks for Tax Year 2025, totaling more than $220 million, went out July 15. Payments will continue on a rolling basis to seniors who applied through the PAS-1 application, which allows residents to apply for three property tax relief programs — Senior Freeze, ANCHOR and Stay NJ — in a single filing. The deadline to file the PAS-1 application for Tax Year 2025 is Nov. 2, 2026.

The Senior Freeze program reimburses qualifying seniors and disabled residents for increases in property taxes or mobile home park site fees on their principal residences. The program works by establishing a base year of eligibility and “freezing” the property tax at that level, comparing it to subsequent years. The state then refunds the difference annually.

Treasury’s Division of Taxation and its Division of Revenue and Enterprise Services worked together to streamline the process this year, including reviewing pending applications early in the season and prioritizing Senior Freeze payment processing. Those efforts resulted in a 75% increase in approved applications at this point in the season compared with last year, according to the announcement.

To qualify, applicants must meet eligibility requirements continuously from their base year through the current application year; otherwise, a new base year must be established.

For the 2025 Senior Freeze, applicants must meet the following requirements:

Be 65 or older as of Dec. 31, 2025, or have received federal Social Security disability or Railroad Retirement disability benefits on or before that date (not on behalf of someone else)

Have owned and lived in their home, or leased a site in a mobile home park, since Dec. 31, 2022, or earlier

Have had an annual income of $172,475 or less in 2025 and $168,268 or less in 2024, with nearly all income sources counted, including Social Security and pensions

Residents can file the PAS-1 application online at propertytaxreliefapp.nj.gov. Those needing assistance can call the Senior Freeze Property Tax Reimbursement Information Line at 1-800-882-6597.

WASHINGTON D.C (VINnews)- Secretary of State Marco Rubio on Thursday described radical leftism as a “distinctive and unique evil” driven by hatred of civilization itself, framing it as a resentful campaign by the weak and inadequate to destroy the achievements of the strong and accomplished.

In pointed remarks that cast communism and related ideologies as fundamentally destructive rather than idealistic, Rubio portrayed left-wing extremism as a recurring force that cloaks resentment in the language of equality and justice.

“This is a revolt of the worst against the best; of the weak and the cowardly against the strong and the good,” Rubio said. “It is perpetrated by those who cannot build, cannot create, cannot achieve great things — and take their revenge upon the world for their own inadequacy by seeking to destroy those who can.”

Rubio argued that while radical leftism adopts varying slogans over time — anti-capitalist, anti-imperialist, communist, anarchist or Marxist — its core character remains unchanged: “a poisonous resentment cloaked in the language of equality, justice, liberation.”

He rejected the common critique that communism is a good idea that fails in practice, asserting instead that the ideology itself envisions a diminished world.

“The world it envisions for all of us is small, flat and gray — leveled of all exception, drained of all that is good and noble in the human soul,” Rubio said. “It is a world without courage, creativity, or ambition; without heroes or glory or great causes to strive towards. Without miracles. Without myths. Without men who rise above the rest to do incredible and extraordinary things. Without God.”

According to Rubio, the towering achievements of civilization represent an unbearable humiliation to its critics, prompting them to lash out through violence and destruction.

“They attack pipelines, railroads, laboratories, power grids: the physical, embodied symbols of power, invention and achievement,” he said.

Rubio’s remarks come amid ongoing debates over political extremism, ideological conflicts and their impact on global stability. The secretary positioned the ideology as inherently opposed to beauty, achievement and the human spirit’s higher aspirations.

Greg Fleming, President and Chief Executive Officer of Rockefeller Capital Management, said the rapidly growing U.S. national debt poses a greater long-term threat to the American economy than inflation, while arguing that artificial intelligence could ultimately help reduce inflation by boosting productivity. His remarks were published by Bloomberg on Tuesday, July 14, from an interview recorded on May 13, 2026.

Fleming’s comments come as government inflation reports have begun showing signs of easing price pressures, shifting attention back toward Washington’s mounting fiscal challenges.

A Veteran Wall Street Voice

Fleming has spent decades leading some of the nation’s largest financial institutions.

Before becoming the founding President and CEO of Rockefeller Capital Management in 2017, he served as President and Chief Operating Officer of Merrill Lynch and previously led Morgan Stanley’s investment management and wealth management businesses.

He also serves on the board of directors of BlackRock and teaches ethics and financial markets at Yale Law School.

In October 2025, Rockefeller Capital completed a recapitalization that valued the firm at approximately $6.6 billion.

The Numbers Behind the Concern

The United States now carries approximately $39.4 trillion in national debt.

During the first nine months of Fiscal Year 2026, the federal government recorded nearly $1.4 trillion in budget deficits—already exceeding the same period a year earlier.

That equates to roughly:

• $155 billion in new borrowing each month.
• Nearly $39 billion in additional debt every week.

Interest payments alone have become one of the federal government’s fastest-growing expenses.

According to the Congressional Budget Office (CBO), net interest on the national debt is projected to total approximately $857 billion during Fiscal Year 2026.

Interest costs reached approximately $970 billion during Fiscal Year 2025 and are projected to climb to roughly $2.1 trillion annually by 2036, totaling $16.2 trillion over the next decade.

The CBO projects interest expenses will equal approximately 3.2% of Gross Domestic Product this year—the highest level on record.

Net interest now exceeds annual federal spending on either Medicare or Medicaid, trailing only Social Security among the government’s largest expenditures.

Not Just Wall Street

Fleming is far from alone in expressing concern.

Maya MacGuineas, President of the Committee for a Responsible Federal Budget, recently warned that federal borrowing could exceed $2 trillion during the current fiscal year despite continued economic growth and relatively low unemployment.

She also noted that both the Social Security and Medicare trust funds are projected to face depletion within the next several years absent congressional action.

Meanwhile, the Congressional Budget Office projects federal debt held by the public will climb to approximately 120% of GDP by 2036.

The Bipartisan Policy Center estimates the United States could once again reach its statutory debt limit sometime between late winter and mid-summer of 2027, depending upon federal revenues and spending.

Why the Timing Matters

Fleming’s warning arrives just as inflation data have begun improving.

This week, the Producer Price Index declined 0.3% in June while the Consumer Price Index fell 0.4%, easing concerns that inflation was accelerating.

Federal Reserve Chairman Kevin Warsh told Congress the latest reports represent encouraging progress but cautioned policymakers against assuming inflation has been permanently defeated.

For Fleming, that distinction is critical.

Inflation tends to rise and fall with economic cycles, energy markets and geopolitical events.

Federal debt, however, continues to grow regardless of monthly inflation reports.

Earlier this year, several Treasury auctions attracted weaker-than-usual investor demand, increasing attention on how financial markets will absorb continued large-scale federal borrowing.

What It Means for Main Street

Growing federal interest costs eventually affect households and businesses alike.

As Treasury borrowing expands, upward pressure on long-term interest rates can increase mortgage costs, commercial real estate financing expenses and borrowing costs for small businesses.

Fleming has repeatedly argued that investors should pay closer attention to federal deficits than short-term inflation data.

At the same time, he remains optimistic that advances in artificial intelligence could improve productivity enough to help moderate future inflation.

Whether those productivity gains arrive quickly enough to offset a national debt approaching $40 trillion remains one of the central economic questions facing policymakers and financial markets.

JBizNews Desk | New York

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

Israel should be able to produce its own Joint Direct Attack Munition (JDAM) bombs en masse within two years, which will revolutionize its warfare capabilities, The Jerusalem Post has learned.

Under orders from former defense minister Yoav Gallant and with recommendations from the commission of Jacob Turkel, Israel started producing more of its own bombs in late 2024 after decades of relying much more on the US for such items, especially during a crisis.

This came after the Biden administration slapped a partial arms freeze on certain bombs to Israel in May 2024 over differences related to the IDF’s invasion of Rafah in Gaza.

The initial idea was for Israel to become more independent in producing so-called dumb bombs.

But that was only the beginning of a process to make Israel more independent in weapons production, especially regarding munitions, which accelerated and expanded much more in 2025-2026, and eventually also focused on producing smarter bombs, like JDAMs.

JDAMs convert bombs into precision-guided munitions

The JDAM is a guidance kit that converts unguided bombs, or “dumb bombs”, into precision-guided munitions (PGMs) which can be used in all weather conditions, including those where using dumb bombs would not be effective.

On January 7, 2025, the Defense Ministry signed two major agreements with Elbit Systems, totaling approximately NIS 1 billion, as part of a strategic effort to strengthen the IDF’s self-sufficiency and operational readiness both in munitions and in raw materials.

In November 2025, the Defense Ministry, where Amir Baram had moved to the position of director-general from serving as IDF deputy chief by March 2025, announced that to date, over 120,000 tons of military equipment, munitions, weapons systems, and protective gear were transferred to Israel via 1,000 aircraft and approximately 150 maritime vessels, mostly from the US.

Baram declared that the ministry over the past two years “has led a tremendous effort to ensure the supply of weapons, equipment, technology, and everything required to enable the IDF to fight and prevail. The 1,000th aircraft that landed today represents another crucial link in the strategic supply chain for the State of Israel.”

He said it was critical to pursue “two parallel tracks: on one hand, strengthening Israel’s defense production base to ensure manufacturing independence, and on the other hand, strengthening cooperation and political and defense relations with our allies around the world, to maintain such an airlift, both in routine and emergencies, and to further strengthen the IDF’s capabilities.”

In January of this year, the Defense Ministry announced it had issued a multi-year order for air munitions manufactured by Elbit Systems, valued at approximately NIS 570 million. 

Baram stated at the time, “This air munitions deal joins a series of multi-year force-building agreements currently being advanced across air, land, and additional domains. These agreements will enable inventory replenishment and procurement for years ahead, while investing in the expansion of our defense industrial base.”

“This will enhance the IDF’s readiness for a challenging security decade, support increased defense exports, and strengthen the economic resilience of Israel’s defense industries and the broader Israeli economy,” he said.

Munitions production ramped up during war with Lebanon, Iran

In March, mid-war with Iran and Lebanon, Baram announced an additional ramping up of munitions production with Elbit, “The central focus of the Ministry of Defense…is aerial munitions. Months of preparation and early readiness have enabled the IDF to operate with virtually no constraints in Iran and Lebanon.”

“At the same time, we are now working to replenish all munitions expended in order to be prepared for any scenario. The decisions we made to expand and accelerate production lines in Israel before the operation will now allow us to take production rates to the next level,” Baram stated.

He complimented Israel’s “distinctive integration between the IDF, the Defense Ministry, and the defense industries that enables the rapid translation of operational needs and battlefield lessons into real-time modifications and upgrades, creating exceptionally fast feedback loops,” he added.

While these statements do not divide up which funds went to JDAMs, which to dumb bombs, and when, the continuous rounds of Israel pouring in additional funds to the weapons independence issue leave room for an emphasis on different weapons at different times.

Where did Israel get the money for all of these rapid increases in homegrown munitions?

The Post has learned that the Defense Ministry did not have enough money to pay for the rapid increases in munitions production at some point, as well as for increasing Arrow 3 interceptor production.

Fights with the Finance Ministry over the need to increase the budget delayed funds or left insufficient funds.

Defense Ministry increased Arrow production funds through sales to Germany

In fact, the only way that the Defense Ministry had enough money to jump-start Arrow production was by the creative and quick use of an influx of additional billions of dollars from a second and new deal to sell the Arrow to Germany.

These funds both enabled increasing the development of locally produced munitions and exponentially increased the number of Arrow interceptors produced by a factor of between two and four times.

Some Israeli media outlets criticized Israel for sending Arrow interceptors to Germany mid-war when Israel was carefully budgeting the use of its remaining interceptor supply, and at times was using David’s Sling to try to shoot down Iranian ballistic missiles.

Despite the criticism, the Post understands that only a very small percentage of Arrow interceptors went to Germany.

Effectively, this means the deal gave Israel several dozen or more interceptors over certain critical periods that it would not have had absent the deal with Germany, and this is true even after the small number of Arrows that it sent to Berlin during that time.

Israel does already produce its own kits which convert “dumb bombs” to precision weapons, but not yet anywhere near close to the necessary volume it needs to be independent on the issue.

This post was originally published on here.

LONDON (AP) — The British government said Thursday it will keep the country’s spies on a tighter rein after a report found MI5 misled courts about its ties to a neo-Nazi informer accused of attacking his partner.

Home Secretary Shabana Mahmood said she is taking “urgent action” to strengthen oversight of the U.K.’s domestic security service after a tribunal found MI5 repeatedly gave “a false account” of what had happened.

Earlier this year MI5 apologized and paid compensation to settle a legal claim brought by a woman over her treatment by an allegedly abusive ex-partner. He was an MI5 informant, identified in court as Agent X.

MI5 maintained in sworn testimony that it had neither confirmed nor denied that Agent X was an informant. But in fact an MI5 officer had disclosed the information during a conversation with a BBC journalist who was investigating Agent X.

The Investigatory Powers Tribunal, which investigates allegations against Britain’s intelligence services, said MI5 had misled three courts because a false narrative was “allowed to take hold and persist.” It said “systemic failures” meant chances to correct the error were missed,

“The findings of this report are stark. It details serious failings by individual MI5 officers, resulting in false evidence being provided to the courts, and criticism of MI5 as an organization,” Mahmood said.

“MI5 plays a critical role in keeping our country safe and we owe a debt of thanks to its staff. They have made significant progress over the last year in learning from these failures, but there is more to do to ensure the highest standards of integrity and accountability are upheld.”

MI5 Director-General Ken McCallum said the agency “recognizes without hesitation the seriousness of our failings” and was working “to ensure we never find ourselves in this position again.”

In a separate case last year, a report found that MI5 protected a top spy planted within the Irish Republican Army when they knew he was wanted by police for murder, and continued to suppress the truth about the agent decades after Northern Ireland ’s bloody conflict.

Rav Yitzchak Yosef, nosi of Shas’ Moetzet Chachmei HaTorah, sent a special letter to Shas chairman MK Aryeh Deri congratulating him on the passage of the historic Basic Law: Torah Study, praising the legislation for elevating the honor and importance of Torah and its learners.

In the letter, Rav Yosef wrote that the law “has greatly increased kavod Shamayim and elevated the importance of Torah and those who study it.”

He continued by emphasizing the indispensable role of bnei Torah in protecting the Jewish people.

“Those who study Torah are the protectors of the Jewish people and ensure the transmission of Torah from generation to generation. May it be Hashem’s will that this will lead to a complete end to the persecution of Torah scholars and restore the situation to what it once was.”

Rav Yosef also praised the repeal of former minister Matan Kahana’s kashrus reform, offering special recognition to Religious Services Minister MK Michael Malkieli and ministry Director-General Yehuda Avidan for their efforts.

“I also extend my blessing to those engaged in safeguarding the walls of kashrus—MK Rabbi Michael Malkieli, together with the energetic and devoted Rabbi Yehuda Avidan and all those involved in this sacred work—who, with Hashem’s help, merited bringing this effort to completion and eliminating the danger that hovered over the kashrus standards in Eretz Yisrael.”

Last week, Rav Yosef took the unusual step of publicly intervening in the legislative process, sending a letter to Deri urging him to prioritize passage of the Torah Study Law.

Quoting the famous words of Rabban Yochanan ben Zakkai, Rav Yosef wrote, “Ten li Yavneh v’Chachameha. There is no room for delay, and under no circumstances should the passage of the Torah Study Law be jeopardized. Regarding kashrus, we must save the Jewish people from eating neveilos and treifos and support the current version of the law. It is not sufficient merely to refrain from doing wrong.”

Following Rav Yosef’s appeal, Shas intensified its efforts to advance the legislation. Over the past day, both measures were approved in their final Knesset readings. The Basic Law: Torah Study formally recognizes Torah study as a foundational value of the State of Israel, while separate legislation repealed Kahana’s kashrus reform.

The new kashrus law, promoted by the Ministry of Religious Services, significantly restructures Israel’s kashrus supervision system and eliminates the longstanding direct employment relationship between supervisors and the establishments they oversee. Supporters say the legislation strengthens the integrity of the country’s kashrus system and reverses reforms that had drawn widespread criticism and prompted legal challenges before Israel’s Supreme Court.

In his concluding brocha to Deri, Rav Yosef wrote that the passage of the Torah Study Law had increased kavod Shamayim and affirmed the central role of Torah scholars in safeguarding the Jewish people. He expressed hope that even those distant from Torah and mitzvos would come to recognize the greatness of Torah learners and that the legislation would ultimately bring an end to the persecution they have endured.

{Matzav.com}

The White House is considering releasing sensitive intelligence related to China and its ability to interfere in US elections that some Trump officials worry could be misleading, according to four people with knowledge of the deliberations.

Trump may disclose the intelligence, which was collected and analyzed during his first term, in a speech that he is due to deliver on Thursday night, when he is expected to outline information about alleged vulnerabilities in the voting infrastructure that could allow for foreign interference in US elections, the sources said.

Reuters could not determine the details of the intelligence, but sources said it is classified and related to whether China had the intention or ability to disrupt US elections in 2020. The sources, who were granted anonymity to discuss classified material, said the intelligence did not show Beijing had manipulated or changed votes.

Trump has continued to repeat the debunked claim that the 2020 election was rigged, suggesting a foreign actor was involved in flipping votes despite legal rulings that Democrat Joe Biden won.

His speech on Thursday may reveal new information about a year-long effort by the Trump administration to collect and review material on what the White House says are vulnerabilities in the nation’s voting infrastructure.

Wider campaign of extending federal control over state powers

The effort is part of a wider campaign to exert federal control over the administration of US elections – a role that rests solely with the states under the US Constitution.

“As usual, anonymous sources are speculating about what President Trump will say during his speech on Thursday evening. The truth is, nobody knows yet what President Trump will ultimately say,” White House spokeswoman Karoline Leavitt said.

The Office of the Director of National Intelligence did not respond to requests for comment. The CIA declined to comment.

No evidence China manipulated votes

The China intelligence was integral to the first Trump administration’s debate about foreign interference in the 2020 election and was reviewed as part of the official intelligence community’s assessment on the issue, the four sources said.

Trump officials said publicly during the first administration that Chinese hackers were targeting election infrastructure ahead of the 2020 election.

Former officials have repeatedly said there is no evidence to suggest China or any other foreign adversary manipulated votes in 2020. A 2021 US intelligence community assessment found no indications that any foreign actor attempted or succeeded in altering “any technical aspect” of the 2020 presidential election vote, including voter registrations, ballots, tabulations or results.

But former intelligence analysts, including Christopher Porter, who served as a national intelligence officer on cyber at the Office of the Director of National Intelligence, wrote a dissent to that report, saying China had the ability to interfere in the elections and could be trying to do so.

A version of that dissent was included in the public release of the 2021 intelligence community assessment.

Porter also wrote a highly classified paper on the subject, expanding on his original argument, two sources said.

Two of the sources who reviewed the paper described it as detailed, outlining specific details of Beijing’s thinking on US elections. Two others said the paper pulled from a small subset of raw intelligence and did not necessarily represent Beijing’s official viewpoint.

Porter has since publicly accused the intelligence community of covering up his dissent reports during Trump’s first term.

Porter declined to comment.

The sources expressed concern that the Trump administration could exaggerate the significance of Porter’s dissent and use it to argue that China did have influence over the outcome of the 2020 vote.

The Chinese embassy in Washington did not immediately respond to a request for comment.

Debate over classification

Current Trump officials have debated in recent weeks whether to declassify the intelligence, with some inside the intelligence agencies worried that doing so could reveal sources and methods of collection and insinuate that Beijing successfully interfered in past elections, two of the sources said.

A White House task force led by conservative journalist John Solomon recently asked the intelligence community for documents outlining the intelligence and has spent the past several weeks reviewing them in anticipation of Trump’s speech, one source familiar with the group’s work said.

The White House did not respond to questions about Solomon’s efforts.

The text of the speech has not been finalized and may still change, the source said.

The White House may also release information related to a years-old allegation that China gained access to US voter data in 2020, a source familiar with the White House’s debates said.

Two people familiar with that issue said that voter data is not confidential, is already available to political consultants for use in targeting election materials, and cannot be manipulated.

The Trump and Biden administrations both reviewed intelligence about China’s potential access to voter data, but two former officials said the intelligence community largely believed that China did not gain entry to US voter systems but instead accessed the information online.

This post was originally published on here.

WASHINGTON (AP) — The Trump administration is proposing to improve security around the White House by putting up a fence around nearby Lafayette Park to help limit public access when law enforcement authorities determine doing so is necessary.

The proposal is scheduled for consideration on Thursday by the U.S. Commission of Fine Arts, according to a meeting agenda and the plans posted on the agency’s website. The agency has oversight over the design of construction on federal land in Washington.

The commissioners are also set to take another look at the design for an underground facility to screen the thousands of tourists and others who visit or work at the White House. All seven commissioners were appointed by the Republican president.

The proposals are being considered at a time when security for the president has become a top concern. President Donald Trump has been the target of multiple assassination attempts, including two during the 2024 campaign and a third this past April as he attended a dinner in Washington with White House journalists.

Those concerns were heightened the following month after U.S. Secret Service officers fatally shot a man who opened fire near a White House security checkpoint.

The administration says the projects will be an improvement over temporary structures that have long been used to aid perimeter security, like barriers fashioned out of bicycle racks, and for screening the many guests who access the White House and its grounds.

A look at both projects:

Lafayette Park last had a permanent fence in the late 1800s
Trump was accompanied by Interior Secretary Doug Burgum on a recent tour of the park to see updates being made at his direction. The president has worked with the Interior Department and one of its agencies, the National Park Service, to restart dormant park fountains.

“We’re really doing a job at Lafayette Park, which is really the entrance to the White House, and that’s going to be completed very shortly and it’ll be incredible,” Trump said in June.

The administration’s 79-page proposal for the 8-acre (3-hectare) park calls for fencing it all the way around with gates at the north and south entrances to control public access. Options call for either including or excluding four monuments located at each of the park’s four corners.

The proposal, which is backed by the Secret Service and the Executive Office of the President, in coordination with the Interior Department and National Park Service, notes that leaving out the monuments would expose them to vandalism.

The report says the goal of the plan is to “enhance long-term safety,” preserve the Lafayette Park’s identity as a significant National Park Service landscape and “maintain public access to this nationally symbolic space.” Throngs flock to the park to protest or celebrate major events.

Lafayette Park has not had a permanent fence around it since the 19th century. The Secret Service anticipates the fence would start going up sometime next year.

The administration wants similar fencing along Pennsylvania Avenue on the north side of the White House complex, from the Treasury Department building at 15th Street to the Eisenhower Executive Office Building at 17th Street. The report said that will be treated as a separate proposal and submitted to the commission at a later date.

White House visitor screening facility could replace currently used tents
The commission is set to review a revised design for the facility, which would be built beneath Sherman Park, federal land southeast of the White House, to support screening for public tour participants, guests attending large events, White House staff and contractors.

The original design called for locating the facility’s entrance at the southern end of the park, but meetings and consultations led to a revised proposal that shifted the entrance to the western edge of the park to avoid conflicts with infrastructure and minimize the impact on the surrounding views, according to the report submitted for the commission’s review on Thursday.

The administration said the permanent facility will eliminate the need for a series of temporary screening tents currently used for events, improve security on the White House complex and enhance the experience for visitors.

The Secret Service, Interior Department, National Park Service and Executive Office of the President want to start construction in August on the 33,000-square-foot (3,066-square-meter) underground facility. They have set a July 2028 date for it to be operating.

White House visitors would face an initial ID check before they enter the facility through a pavilion located above ground, then head down to a lower level and a second checkpoint. After they are cleared, visitors will ride escalators that will take them up to the White House grounds.

The Federal Reserve reported Wednesday, July 15, that economic activity increased at a slight to moderate pace in 11 of the 12 Federal Reserve districts during late May and June, while one district reported no change. The finding came in the central bank’s latest Beige Book, released at 2:00 p.m. ET and based on information collected through July 6.

The line that matters is on prices.

Compared with the previous reporting period, price growth was the same or slower in every Federal Reserve district, the central bank said.

That is a reversal, not a nuance.

What Changed Since June

Six weeks ago, the picture was considerably worse. The June 3 Beige Book described prices rising at a moderate to strong pace, with most districts reporting higher inflation than in the previous report.

Businesses pointed to energy costs connected to the Middle East conflict as a major driver, with the pressure spreading into shipping, transportation, packaging, groceries, fertilizer and other raw materials. Nonlabor input costs were rising faster than many companies could increase their selling prices, squeezing profit margins.

Consumer-facing businesses were having the greatest difficulty passing those costs along.

Wednesday’s report said prices still increased moderately overall, but the direction improved. Nine districts described price growth as moderate, two described it as robust and one reported only slight growth.

Not one district reported that inflation accelerated compared with the previous Beige Book.

Some business contacts continued to attribute cost increases to the conflict in the Middle East, while others cited tariffs. Consumer prices were still rising, and several districts said customers had become more sensitive to price increases.

That creates a complicated environment for businesses: costs are no longer accelerating as quickly, but customers are also becoming less willing to absorb another round of price increases.

The Labor Market

Employment increased on balance.

Five districts reported modest, moderate or solid employment gains, while seven reported little or no change.

That describes a labor market that is neither collapsing nor overheating — approximately the balance the Federal Reserve wants as it evaluates whether inflation is moving sustainably toward its target.

The report also suggested that labor costs are not currently the primary source of inflation pressure. Nonlabor expenses, including energy, transportation and raw materials, remain the larger concern.

The One Issue Still Worrying Businesses

Fuel.

Business contacts generally expected the economy to continue expanding in the coming months, but several districts reported elevated uncertainty over future fuel costs.

That caveat is doing a great deal of work.

Agricultural operators in the Chicago district reported buying diesel in smaller quantities rather than purchasing it by the truckload because they were unwilling to commit at current prices.

Fertilizer costs were identified as an even greater concern heading into the fall and winter, when farmers begin locking in expenses for the next growing season. The report said a modest number of acres had been switched from corn to soybeans specifically because corn requires more fertilizer.

That is what geopolitical instability does to a business plan.

Companies are not only paying more. They are delaying purchases, changing production decisions and avoiding long-term commitments because they cannot reliably forecast what fuel and other energy-related costs will be several months from now.

Inflation Data Moves in the Right Direction

The Beige Book followed two significant inflation reports released over the previous two days.

On Tuesday, the Bureau of Labor Statistics reported that consumer prices fell 0.4 percent in June, the largest monthly decline since April 2020, while annual inflation cooled to 3.5 percent, below the 3.8 percent economists had expected.

On Wednesday morning, the Bureau of Labor Statistics reported that the Producer Price Index for final demand fell 0.3 percent in June, compared with expectations for no change.

The decline was driven by a 1.4 percent drop in final-demand goods prices, including a 6.4 percent decline in energy prices. Gasoline prices fell 12 percent, while diesel, jet fuel and crude petroleum prices also declined.

Services prices, however, increased 0.2 percent, showing that inflationary pressure has eased but has not disappeared.

Then the Beige Book arrived Wednesday afternoon and confirmed that price growth had either slowed or remained unchanged in all 12 districts.

John Williams, president of the Federal Reserve Bank of New York, said in a speech Wednesday morning that there were encouraging reasons to believe inflation had peaked. He projected that overall inflation would decline to approximately 3.25 percent by the end of the year before moving closer to the Federal Reserve’s 2 percent objective in 2027 and reaching the target in 2028.

Financial markets responded to the improving inflation picture. Expectations for a rate increase by September declined, while the two-year Treasury yield moved lower and risk assets, including Bitcoin, strengthened.

What the Federal Reserve Does With It

The Beige Book is published eight times each year, generally about two weeks before a Federal Reserve policy meeting. It provides policymakers with business-level information that may not yet appear in official economic statistics.

Federal Reserve Chairman Kevin Warsh will lead his second rate-setting meeting on July 28 and 29.

At the June meeting, policymakers raised their median 2026 inflation projection to 3.6 percent, up from 2.7 percent, and increased their median federal-funds-rate projection to 3.8 percent.

Minutes from that meeting showed officials divided over the appropriate path for interest rates. Some remained concerned that elevated inflation could require another increase, while others saw reasons to wait for additional information.

Warsh spent Tuesday and Wednesday testifying before Congress. He acknowledged that any central bank would welcome data moving in the right direction but stopped short of declaring the inflation fight finished.

That restraint is understandable. Much of June’s improvement came from declining energy prices during a relative lull in the conflict with Iran. Renewed hostilities and rising oil prices could reverse some of that relief before it becomes embedded in the broader economy.

What It Means for Business

For anyone operating a company, Wednesday’s Beige Book delivers three messages.

Input costs have stopped accelerating as quickly. Customers are watching prices more closely than before. And nobody knows with confidence what fuel costs will do next.

The first two developments offer relief. The third explains why the Federal Reserve is not declaring victory — and why businesses locking in transportation, agricultural or manufacturing contracts for the fall are still making a calculated bet rather than following a predictable plan.

JBizNews Desk | Washington
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Gov. Kathy Hochul on Wednesday announced the development team selected to transform a Hell’s Kitchen parking lot used by the Intrepid Museum into a mixed-use development with more than 1,100 apartments. Gotham Organization, Fisher Brothers, and Mural Real Estate Group will turn the state-owned site at 621 West 45th Street into two connected skyscrapers with 1,127 homes, including about 338 affordable units, new facilities for the museum, and a public park that connects to the existing pedestrian bridge. The project stems from a request for proposals issued in February 2025 for one of the largest remaining undeveloped parcels on Manhattan’s Far West Side.

“The far West Side of Manhattan has a storied history as a vibrant, inclusive community, and this proposal will carry that legacy forward by building for a more affordable future,” Hochul said.

“By transforming a State-owned parking lot into more than 1,100 new homes — with hundreds of permanently affordable units and homeownership opportunities — we are taking direct aim at the housing shortage while strengthening one of New York’s great cultural institutions. This is what’s possible when we put State land to work for the people of New York.”

The state Department of Transportation acquired the land through eminent domain in 2000 and 2002 during the reconstruction of the West Side Highway. Under an agreement with the Intrepid Sea, Air & Space Museum, the state allows the museum to use the surface lot for parking during school trips and special events, as 6sqft previously reported. As required by the RFP, the proposal will preserve parking for the buses and provide access to the pedestrian bridge that connects to Hudson River Park.

Since the lot was the site of a manufactured gas plant, the development team intends to remediate it as part of the state’s Brownfield Cleanup Program.

The two connected towers will have a total of 1,127 homes, with 30 percent, or 338 units, affordable to those earning between 40 and 130 percent of the area median income. Some units will be designated as workforce housing, set aside for middle-income earners like teachers, nurses, and first responders. The developers also propose 108 for-sale condos, with about a quarter made affordable.

As 6sqft previously noted, the RFP sought proposals for buildings with a maximum floor area ratio of 18 and for them to incorporate “forms and facades” that enhance both visual appeal and walkability of Hell’s Kitchen.

In addition to housing, the project will include retail space and replacement parking that will open in phases. Intrepid Park, a new 9,800-square-foot landscaped open space, will connect to the museum’s existing sky bridge.

The project will also expand the museum’s footprint with a new 22,000-square-foot community hub across the West Side Highway called Intrepid Concourse, which will include a visitor center, STEM education facility, and cafe.

“We are thrilled to be a part of such a vital development project for New York City, and appreciative of Governor Hochul’s vision for the neighborhood and belief in the Museum’s mission,” Susan Marenoff-Zausner, president of the Intrepid Museum, said.

“We are excited to collaborate with ‘best in class’ firms that exude excellence and share our belief in community. This project enables us to expand our award-winning educational programs that the Intrepid Museum is renowned for and that have been so impactful for the City’s youth.”

Officials did not release a timeline for the project.

The redevelopment builds upon Hochul’s efforts to identify and convert underutilized or vacant state-owned sites into housing to help address the state’s housing shortage. Other initiatives include the conversion of the Bayview Correctional Facility in Chelsea and the Lincoln Correctional Facility in Harlem.

Another state-owned parcel on the West Side slated for redevelopment is “Site K” at 418 11th Avenue. In December 2024, Hochul unveiled plans for a $1.35 billion mixed-use project with nearly 1,400 homes across from the Javits Center. The development would include a 72-story residential tower, a 28-story hotel, and a five-story podium housing a permanent home for the Climate Museum and community facilities.

RELATED:

• Intrepid Museum parking lot in Hell’s Kitchen slated for development
• East Village parking lot to become 130-unit affordable housing project
• 1,000-unit affordable and supportive housing project breaks ground in East Flatbush

The post See plan to add 1,100 apartments and new park across from the Intrepid Museum in Hell’s Kitchen first appeared on 6sqft.

Israeli Prime Minister Binyomin Netanyahu sharply defended the recently enacted law freezing the arrests of yeshivah students during private conversations with government ministers, reportedly condemning the arrest of Torah scholars and comparing the practice to religious persecution in Soviet Russia.

According to a report by Channel 14 correspondent Moti Kastel, Netanyahu expressed anger over criticism of the law, which was temporarily suspended by Israel’s High Court pending its review of petitions challenging the legislation.

During the conversations, Netanyahu reportedly urged ministers to push back forcefully against opponents of the law.

“We need to push back against this false propaganda. This law causes no harm whatsoever!” he said.

Netanyahu argued that freezing arrests would actually encourage military enlistment rather than discourage it.

“We want recruits. We don’t want arrests. The more arrests there are, the fewer recruits there will be. We’re hearing this from the heads of the hesder yeshivos. The moment this threat exists, everything stops. It only sows hatred and division. Anyone who is not learning should face the full force of the law.”

The prime minister also strongly criticized the ongoing arrests of bnei Torah, invoking the persecution of religious Jews under the Soviet regime.

“Taking Torah learners? They did this in Russia, and we cried out against it! This is not the solution. The Torah is our Jewish heritage for hundreds of generations! It is what has sustained the Jewish people.”

Netanyahu also addressed the recently approved Basic Law: Torah Study, dismissing criticism of the measure.

“What do they want? The law states that Torah study is a foundational value in Israel’s heritage. Wow! What’s the big deal? There’s nothing more to it.”

The New York Times asked a federal court Wednesday to quash subpoenas served on three of its journalists in connection with a Justice Department investigation into the disclosure of information about security concerns involving a new presidential aircraft.

The motion was filed under seal in the U.S. District Court for the Southern District of New York, where the reporters had been directed to appear before a federal grand jury. The Times is also seeking permission to make its filing public, while protecting any information that remains subject to grand-jury secrecy.

FBI agents delivered subpoenas Friday to the homes of Times journalists Julian E. Barnes, Eric Lipton and Eric Schmitt, according to the newspaper. The government also attempted to serve reporters Tyler Pager and Adam Goldman, but those subpoenas were not completed.

The subpoenas seek testimony and information that could identify confidential sources used in the newspaper’s coverage of security issues involving a Boeing 747 provided by Qatar for presidential use. The aircraft, valued at roughly $400 million before extensive modifications, is being converted for use as Air Force One.

The Times reported that President Donald Trump traveled aboard an older presidential aircraft after security concerns were raised about the newer plane’s readiness and defensive capabilities. The government subsequently opened an investigation into whether officials improperly disclosed classified or otherwise protected information connected to the reporting.

The Justice Department has said its investigation is focused on identifying government employees responsible for unauthorized disclosures, rather than prosecuting the journalists who received and published the information. The subpoenas nevertheless seek evidence from the reporters that could reveal the identities of their sources.

In its motion, the Times argued that the subpoenas were issued in bad faith and violated the constitutional rights of the newspaper and its journalists. David McCraw, the Times’ senior vice president and deputy general counsel, said the demands were intended to punish the newspaper for its reporting.

“These subpoenas are brought in bad faith to punish The Times for its coverage,” McCraw said in a statement. “They violate the constitutional rights of The Times and its journalists.”

The newspaper also argued that forcing its reporters to disclose confidential sources would interfere with newsgathering and make government officials less willing to provide information to journalists. The Times said it would challenge the subpoenas and defend its reporters’ ability to protect confidential sources.

The subpoenas were delivered two days after the Times published reporting about Trump’s use of an older Air Force One aircraft during a return trip from Turkey. The report said the decision was connected to security concerns involving the aircraft being prepared for presidential service.

The legal dispute comes after the Justice Department changed internal policies that had limited the circumstances under which prosecutors could seize journalists’ records or compel reporters to testify in leak investigations. Those restrictions had generally required prosecutors to pursue other investigative methods before seeking evidence directly from members of the news media.

Federal law does not provide journalists with an absolute privilege allowing them to refuse testimony in every grand-jury investigation. Courts have previously required reporters to testify in certain criminal cases, particularly when prosecutors demonstrate that the information is relevant and cannot reasonably be obtained elsewhere.

The Times is expected to argue that the subpoenas are overly broad, that they intrude on First Amendment protections and that prosecutors have not shown they exhausted alternative ways to identify the officials under investigation. The government can seek evidence through agency records, communications data, access logs and interviews with officials who handled the information.

Because the newspaper’s motion remains sealed, the complete legal arguments and the precise testimony sought from each journalist have not been made public. The Times’ request to unseal the filing could provide additional details if approved by the court.

The Justice Department had not filed a public response to the motion as of Wednesday evening. No hearing date had been announced.

The judge handling the matter may enforce the subpoenas, narrow their scope or quash them. Any proceedings involving grand-jury information or classified material could be conducted partly or entirely under seal.

The case now places a federal court between the Justice Department’s investigation into a possible national-security leak and a newspaper seeking to protect the identities of the government sources behind its reporting.

JBizNews Desk | New York

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Authorities are investigating after a garage went up in flames on Whitesville Road in Jackson.

Firefighters responded to the home around midnight last night.

No injuries were reported.

https://thelakewoodscoop.com/wp-content/uploads/2026/07/wa-1784212385275-h8bkf2.mp4

A dramatic development unfolded in the Likud on Thursday when the Lod District Court issued an injunction halting a vote on the proposed overhaul of the party’s primary system.

The court’s decision came moments before the planned vote among approximately 4,500 Likud Central Committee members.

The ruling was issued in response to a petition filed by the Social Forum, affiliated with the National Histadrut, which claimed that the planned reform to the party’s internal election system violates the integrity of the process.

The center of the dispute was a proposal by Likud Central Committee Chairman and Minister Chaim Katz to overhaul the party’s primary system. The proposal had received the backing of Likud chairman and Prime Minister Binyamin Netanyahu earlier this week and was approved by the party’s Constitution Committee.

Under the proposal, Netanyahu would have received eight reserved slots on the Likud Knesset list—in positions 2, 5, 9, 11, 15, 18, 26, and 31. The proposal also included a new division between the national list and district representatives, along with mechanisms guaranteeing representation for women, young candidates, immigrants, non-Jews, and people with disabilities.

The proposal sparked sharp disagreement within the Likud during the Constitution Committee’s deliberations. MK David Bitan opposed increasing Netanyahu’s reserved slots, left the meeting before the vote, and presented an alternative plan that would have granted the prime minister only three reserved slots.

The Social Forum welcomed the ruling, saying: “This is a victory for common sense. We will not allow the elections in the Likud movement to be stolen. The Social Forum affiliated with the National Histadrut will continue to serve as the shield protecting the 150,000 registered Likud members.”

(YWN Israel Desk—Jerusalem)

Warren Buffett, chairman of Berkshire Hathaway Inc., warned Wednesday, July 15, that today’s stock market has become increasingly driven by speculation rather than disciplined investing, saying it has become more difficult to find bargains when investors are focused on short-term bets instead of long-term value.

Speaking with CNBC’s Becky Quick on Squawk Box, Buffett summarized today’s investing environment in one sentence:

“It’s tough to find values when everybody is preferring gambling.”

The comments came as markets continued digesting another volatile week that saw some of the year’s hottest technology stocks suffer sharp declines despite relatively little company-specific news.

Investing versus gambling

Buffett said opportunities always come in cycles.

There are periods when attractive investments appear frequently, he explained, and other periods when investors may wait years before finding exceptional value. He suggested today’s market more closely resembles the latter.

His larger concern was not simply valuation.

Instead, Buffett argued that the financial industry increasingly profits from encouraging constant trading rather than patient investing.

He illustrated the point with Berkshire Hathaway.

An investor who purchased Berkshire shares several decades ago may have generated only a single brokerage commission before simply holding the investment for decades. That, Buffett noted, is not a particularly profitable business model for firms built around frequent trading activity.

He also questioned Wall Street’s constant pursuit of market forecasts and short-term predictions.

According to Buffett, America’s long-term economic growth—not constant trading—is what has historically created wealth for investors.

When he purchased his first stock, the Dow Jones Industrial Average had only recently crossed 100. Today it trades above 51,000, demonstrating the power of long-term ownership rather than short-term speculation.

Wednesday’s market reflected his concerns

Buffett’s remarks came during one of the most volatile trading weeks of the year.

SpaceX fell below its $135 IPO price for the first time.

Leading memory-chip companies including Micron Technology, SanDisk, and SK hynix posted steep declines despite no major deterioration in business fundamentals.

Meanwhile, the broader market continued moving higher as investors welcomed improving inflation data.

The contrast highlighted Buffett’s point: individual stocks can experience dramatic swings while the broader economy continues expanding.

Berkshire remains cautious

Buffett’s investment positioning also reflects his comments.

Berkshire Hathaway’s cash holdings have grown to approximately $397 billion, one of the largest cash balances in corporate history.

The enormous reserve suggests Buffett continues struggling to find acquisition opportunities that meet Berkshire’s strict value-investing standards.

Although Buffett stepped down as Berkshire’s chief executive at the end of 2025, turning day-to-day operations over to Greg Abel, he remains chairman and continues shaping the company’s investment strategy.

He also confirmed that Berkshire now owns an investment in Alphabet Inc. valued at more than $31 billion, adding that he—not Abel—initiated the position before both executives approved expanding it.

A changing legacy

Buffett also discussed his philanthropic plans.

After contributing approximately $47 billion to the Bill & Melinda Gates Foundation over the years, Buffett said he has revised earlier plans and now intends to accelerate charitable giving directly through his family, with the goal of distributing most of his fortune by 2034.

Why his comments matter

Few investors carry Buffett’s credibility.

For more than six decades, Berkshire Hathaway has consistently outperformed the broader stock market through disciplined, long-term investing.

His warning comes as markets continue setting records despite elevated geopolitical tensions, rapid advances in artificial intelligence, historically high valuations and increased retail speculation.

Whether investors choose to follow Buffett’s advice remains to be seen.

But his message was straightforward:

Successful investing depends less on chasing excitement and more on waiting patiently until opportunity clearly outweighs risk.

JBizNews Desk | Omaha

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President Trump is weighing a broader U.S. military campaign against Iran after days of briefings with senior national security advisers, according to a report by The Wall Street Journal. While no final decision has been made, officials say the president has been presented with a range of military options as diplomatic efforts remain stalled.

According to the report, proposals discussed include expanding U.S. airstrikes, deploying American forces to seize Iranian islands near the Strait of Hormuz, and striking a heavily fortified underground site believed to be connected to Iran’s nuclear program. One option reportedly discussed during a Tuesday meeting involved Iran’s Kharg Island and other strategic locations along the vital shipping route.

The report says another potential target is a deeply buried underground tunnel complex near Iran’s Natanz nuclear facility, sometimes referred to as “Pickaxe Mountain.” The site is believed to be carved roughly 100 meters into granite, making it one of Iran’s most heavily fortified nuclear-related facilities and difficult to destroy even with bunker-busting munitions.

The discussions reportedly involved Vice President JD Vance, Defense Secretary Pete Hegseth, Secretary of State Marco Rubio, and Joint Chiefs Chairman Gen. Dan Caine. Despite reviewing military options, Trump has continued to publicly and privately say he prefers a diplomatic solution to the conflict.

According to the report, however, Iran has not agreed to Trump’s demands to surrender its nuclear stockpile, prompting the administration to examine additional measures that could increase pressure on Tehran or halt attacks on commercial shipping in the Strait of Hormuz.

Officials told the Journal that Trump remains hesitant about committing U.S. ground forces, noting that he has previously stepped back from some of his most aggressive public threats. Any decision to expand the conflict would mark a significant escalation and could have far-reaching consequences across the Middle East.

In an interview released Wednesday, Vice President Vance told podcaster Joe Rogan that the military campaign is intended to bring Iran back to the negotiating table.

“We’re not just going to bomb for the sake of bombing,” Vance said. “We’re going to use military force as one of many tools to solve the problem.”

(YWN World Headquarters – NYC)

A dramatic coalition showdown erupted in the Knesset on Wednesday evening just before the final vote on the government’s landmark judicial reform bill, after MK Moshe Gafni threatened to block the legislation unless funding issues affecting Chareidi preschool teachers were resolved. Following hours of behind-the-scenes negotiations, Gafni prevailed, clearing the way for the bill to move forward.

The legislation, championed by Justice Minister Yariv Levin and Constitution Committee Chairman MK Simcha Rothman, reached its final stages after roughly 70 committee meetings. However, moments before the decisive vote, the process came to an abrupt halt as Chareidi parties threatened to withhold their support, triggering a direct confrontation between Gafni and Finance Minister Betzalel Smotrich.

As coalition leaders scrambled to prevent the bill’s collapse, Rothman deliberately prolonged his speech from the Knesset podium, buying time for intensive negotiations behind the scenes. Those talks ultimately ended with the coalition accepting Gafni’s demands.

At the heart of the dispute was growing frustration within United Torah Judaism, particularly from Gafni, over the government’s failure to approve promised seniority-based salary increases for Chareidi preschool teachers. UTJ accused Smotrich of intentionally delaying the funding and removing it from the government’s agenda in an effort to pressure the party politically, specifically to secure representation for his Religious Zionism Party in the municipal coalition in Beit Shemesh.

In response, UTJ informed coalition leaders that it would not support one of the government’s signature judicial reform measures, a move that would almost certainly have doomed the legislation.

Religious Zionism fired back with an unusually sharp public response. Associates of Smotrich argued that Attorney General Gali Baharav-Miara should “send flowers” to Gafni because, by threatening the bill, he was effectively preserving what they described as her judicial “dictatorship.”

Party officials also warned that if Gafni and his colleagues were responsible for defeating legislation intended to curb the attorney general’s authority, “they will not be able to show their faces in the Chareidi street,” adding bluntly, “they should not threaten us.”

Despite the heated rhetoric, Gafni’s political pressure ultimately succeeded. After marathon negotiations, Smotrich’s camp agreed that funding for the salary increases would remain on the government’s agenda, officially resolving the crisis.

The confrontation unfolded despite an earlier coalition agreement under which the Chareidi parties had pledged full support for the attorney general legislation as part of a broader package negotiated with Prime Minister Binyamin Netanyahu. In return, the coalition had advanced several key Chareidi-backed measures, including the Basic Law: Torah Study, the law freezing the arrests of draft evaders—which was later suspended by the High Court—and legislation repealing the kashrus reform.

Gafni’s last-minute threat briefly cast doubt over the entire agreement. Once the dispute over the preschool teachers’ funding was resolved, however, coalition unity was restored and the legislative package remained intact.

The legislation at the center of the dispute is designed to significantly reshape the relationship between Israel’s government and the attorney general. Its primary provision removes the binding status of the attorney general’s legal opinions, making them advisory rather than mandatory for ministers and the cabinet.

Under the proposal, the attorney general will continue serving as the government’s chief legal adviser, offering legal guidance and outlining available options while helping ensure compliance with the law. Final policy decisions, however, would remain with elected officials.

The bill further provides that while written legal opinions from the attorney general will reflect the government’s legal position, they will not themselves determine the law. The government will be permitted to conclude that an opinion does not accurately reflect existing law, provided it reports that determination to the Knesset Constitution Committee.

In addition, the legislation grants the government greater authority over its legal representation in the courts. If the attorney general declines to represent the government’s position, ministers will be authorized to retain private outside counsel to argue the government’s case. With the coalition crisis resolved, the legislation is now expected to proceed to a final vote.

{Matzav.com}

SYDNEY (AP) — More than 500 people are feared dead after reports that two boats carrying members of Myanmar’s persecuted Rohingya minority have capsized in the Bay of Bengal, officials said Thursday.

According to preliminary information, the two boats left Myanmar’s western state of Rakhine in late June carrying mostly Rohingya passengers, including some who had traveled from refugee camps across the border in Bangladesh, according to a statement from the International Organization for Migration and the United Nations High Commissioner for Refugees.

More than 500 people are feared to have been aboard two boats that reportedly capsized off the coast of Myanmar.

Most were Rohingya passengers risking dangerous sea journeys in search of safety. We and IOM are deeply concerned by these reports and call for stronger efforts to… pic.twitter.com/FIvT4T4AfR

— UNHCR, the UN Refugee Agency (@Refugees) July 16, 2026

One boat, believed to have been carrying around 250 people, lost contact shortly after departure. A second boat, reportedly carrying 280 people, is believed to have sunk off Myanmar’s Ayeyarwady coast on July 8.

″While the incidents and casualty figures have yet to be officially confirmed, UNHCR and IOM are gravely concerned by the potentially devastating loss of life,” the agencies said.

Acting police Brig. Gen. Soe Lin Aung, the spokesperson for Myanmar’s Ministry of Home Affairs, declined to comment. Spokespeople for Myanmar’s president and the Ayeyarwady region’s government did not respond to requests for comment.

The Rohingya, who have in recent years fled both Myanmar and Bangladesh’s squalid refugee camps by the thousands, typically avoid such boat journeys at this time of year, when monsoons are frequent and conditions at sea are particularly dangerous. The UNHCR and IOM noted this in their statement, saying that recent torrential rain and flooding across the region would have made such journeys especially risky.

Around 1.2 million stateless, predominantly Muslim Rohingya remain trapped in overcrowded refugee camps in Bangladesh after fleeing waves of violence by Myanmar’s security forces.

The United Nations has warned that more than five hundred people are feared dead after two boats carrying Rohingya refugees reportedly capsized off the coast of Myanmar.#Asiaone #asiaonenews #Myanmar #Shipwreck #UnitedNations #HumanitarianCrisis pic.twitter.com/bq8SJLBAuC

— ASIA ONE NEWS (@AsiaOne_News) July 16, 2026

The refugees have no way to safely return to Myanmar, where the military that killed thousands of Rohingya in 2017 during what the United States declared a genocide remains in charge of their homeland. The Rohingya still living in Myanmar face severe restrictions and many are confined to internment camps.

Steep cuts to foreign aid by the U.S. and other countries have led to ration cuts in Bangladesh’s refugee camps, while the ruling military and an ethnic armed organization in Rakhine have fought for control of the region.

The unrest has led to an increasing number of Rohingya attempting to make the dangerous ocean crossing to Malaysia on rickety boats. Thousands have died in the process, including babies, children and pregnant women. Local maritime authorities have frequently abandoned the Rohingya at sea, often ignoring reports of boats in distress.

The IOM and UNHCR said on Thursday that the latest potential tragedy at sea underscores the continued lack of sustainable solutions for the Rohingya, and urged the international community to support those trapped in Bangladesh’s camps.

“Stronger regional and international efforts are needed to prevent further loss of life along one of the world’s deadliest maritime routes, including through enhanced search and rescue efforts, access to asylum and protection, and actions against smuggling and trafficking networks,” the agencies said.

More than 6,500 Rohingya fled and nearly 900 were reported dead or missing in 2025, the deadliest year for Rohingya who tried to leave by boat. The figure represents the highest mortality rate of any major route for refugee and migrant sea journeys in the world, the UNHCR said.

New York City’s unemployment rate dropped to 5.4% in May, its lowest level in 10 months, according to the monthly economic and fiscal outlook released Wednesday by New York City Comptroller Mark Levine. But the report is blunt about why the number moved: the 0.2-point decline came from a dip in how many New Yorkers are looking for work, not from more New Yorkers finding jobs.

That distinction is the whole story for anyone hiring in this city right now.

Underneath the headline number, the city’s labor market is holding up better than the country’s by almost every measure the Comptroller’s office tracks. New York City’s labor force participation rate stands at 62.6%, near a record high, at a moment when the national rate has slid to a five-year low. The share of working-age New Yorkers who actually hold a job — the employment-population ratio — held steady at a record 59.2% in May. The national figure fell to 59.0% in June. Before this year, the city had never beaten the country on that measure.

The job growth that exists is narrow. Professional and Business Services added 7,000 jobs over the month and 14,000 over the year — the closest thing the city has to a broad-based engine, and the sector that fills office towers and pays the wages that ripple into restaurants, retail and services. Healthcare and Social Assistance added 5,400 over the month and 22,300 over the year, by far the largest gain, though those jobs pay less and lean heavily on government funding.

Financial Activities and Securities are the ones to watch. Both are up from a year ago, but the report says hiring in each essentially stalled over the past month. For a city whose tax base rides on Wall Street bonuses, a stall is not a small detail.

The national picture is worse. Private-sector payrolls grew by just 49,000 in June, and the Labor Department revised April and May down by a combined 74,000, dragging the three-month average to 99,000. Leisure and Hospitality lost 61,000 jobs in what should be a peak tourism month. The U.S. unemployment rate edged down to 4.2%, but again for the wrong reason — participation fell to 61.5% as people gave up looking. Jobless claims stay low. Hiring stays low. The Comptroller’s economists call it a low-hire, low-fire economy, and it has now been the story for the better part of a year.

One number improved. National GDP grew at an annualized 2.1% in the first quarter, revised up from an earlier estimate of 1.6%, with imports up 11.8% and exports up 10.9%.

What it costs to live here

Home selling prices have been essentially flat. Market rents have not. Rents are up 5% to 6% since the middle of 2025 and now sit 35% above where they were before the pandemic — the single biggest pressure on the workforce that every tri-state employer is trying to recruit and keep.

The supply answer is slowly moving. Developers filed plans for nearly 17,000 housing units in the first quarter of 2026 alone, on top of strengthening completions through 2025. Levine’s message with the report was that those units take time to deliver and that inaction is not an option, whatever policymakers decide to argue about.

Tourism has picked up since the World Cup rounds began in early June, but the summer has not delivered what the industry hoped. Hotel room rates are running above a year ago while occupancy is roughly flat with 2025 — meaning hotels are charging more to fill the same rooms, and summer bookings have come in under expectations.

The city’s books

Preliminary tax receipts for fiscal 2026, counted through June, are 7.3% higher than the prior year. The City Council adopted a $125.8 billion budget for fiscal 2027 on June 30, roughly $1.14 billion above what the mayor proposed in his Executive Budget in May. Just over a quarter of that increase came from higher tax revenue projections — about $300 million more than the Office of Management and Budget had forecast.

Levine has testified in support of building a formal framework around the city’s Rainy Day Fund, including a target balance and clear rules for putting money in and taking it out. The Charter Revision Commission is expected to release its final report and any ballot proposals in the coming weeks.

For business owners, the read is this: revenue coming into the city is strong, the job market is stable but not growing much outside health care, and the cost of housing your workers keeps climbing. Those three facts don’t point in the same direction, and the next budget cycle is where they collide.

JBizNews Desk | New York © JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

Iran’s currency plunged nearly 5% over the past 24 hours, falling to a record low of approximately 1.88 million rials per U.S. dollar as economic uncertainty and tensions with the United States intensified.

The sharp decline came after President Trump signaled that the current U.S. understanding with Iran could be canceled or fundamentally reworked, fueling concerns about additional economic pressure on the Islamic Republic. Just one day earlier, the exchange rate stood at roughly 1.75 million rials per dollar.

The rial is now among the weakest currencies in the world. Before Iran’s 1979 Islamic Revolution, one U.S. dollar was worth about 70 rials. Today, it takes approximately 1.88 million rials to purchase a single dollar, underscoring the dramatic collapse in the currency’s value over the past four decades.

The latest plunge has renewed fears of economic unrest inside Iran. Similar currency crashes in recent years have sparked anti-regime protests as inflation and the loss of purchasing power devastated ordinary Iranians.

Analysts warn that growing domestic pressure could increase instability within Iran, with concerns that the regime may seek to divert attention from its economic crisis through heightened regional tensions.

(YWN World Headquarters – NYC)

HONG KONG (AP) — Major Taiwan computer chipmaker TSMC said Thursday it plans to spend another $100 billion on expanding its manufacturing capacity in the United States.

The latest commitment appears to bring the company’s total pledges for investment in U.S. chipmaking to $265 billion. It also raised its annual revenue forecast after booking record high profits thanks to runaway demand from the boom in artificial intelligence.

The world’s largest contract chip manufacturing and one of the world’s most valuable companies, TSMC is seen as a barometer for the global chip industry and for AI at a time when worries about a potential AI bubble have been buffeting financial markets.

As AI-related demand continues to jump and needs for computing power from data centers surge, TSMC has been expanding chip fabrication plants in the U.S., Japan and Taiwan. It said it is increasing its annual capital expenditure budget for this year to $60 billion-$64 billion, up from an earlier estimate of $52 billion-$56 billion.

TSMC, or Taiwan Semiconductor Manufacturing Co., is a key supplier to Nvidia and Apple. It had previously already committed $165 billion in the U.S. for building plants in Arizona, with six fabrication facilities planned.

The extra $100 billion in investments are to “support the strong multiyear demand from our leading U.S. customers,” C.C. Wei, chairman and CEO of TSMC, said during the company’s quarterly earnings conference Thursday. An additional four fabrication plants in Arizona will likely be built with the new investments, TSMC said. They will focus on making some of the most advanced chips that are 2-nanometer and below.

“We believe this investment will help to further foster the development of the U.S. semiconductor ecosystem, strengthen the supply chain and support an increasing number of high-tech, high-paying jobs in the United States,” he said.

Earlier this year, U.S. President Donald Trump’s administration and Taiwan reached an agreement that cut U.S. tariffs on Taiwanese goods, as Taiwan promised around $250 billion of new investments in the United States’ tech sector, including in semiconductors. That included spending by TSMC.

AI-related demand globally continues to be “extremely robust,” Wei said, as the “AI megatrend continues to drive the need for more and more computation.”

“I believe from this day on, all the way to probably 2029, 2030, the demand is very strong,” he said.

TSMC on Thursday reported a record 706.6 billion new Taiwan dollars ($22 billion) in net profit for the April-June quarter, up 77% from a year earlier and better than what analysts had expected. Revenue was up 36% year-on-year during the quarter, to 1.27 trillion new Taiwan dollars ($39 billion).

Wei said TSMC now expects its annual 2026 revenue growth to be slightly above 40% year-on-year, up from its previous forecast of over 30%.

TSMC’s ramped up investment plans are “essential to support (its) long-term growth” and to keep up with demand, said William Li, a senior analyst in semiconductors at Counterpoint Research.

President Donald Trump publicly attacked New York Governor Kathy Hochul on Wednesday, July 15, over her decision to temporarily halt new large-scale data center development in New York, calling the move a “terrible decision” in a post on Truth Social and urging the state to reverse course immediately.

“Both the Taxes and the Jobs amount to LIQUID GOLD!” Trump wrote, arguing New York was driving away billions of dollars in investment and thousands of high-paying jobs.

The criticism came just one day after Hochul signed an Executive Order establishing what her administration described as the nation’s first statewide moratorium on new hyperscale data centers while regulators develop new standards governing electricity demand, environmental impacts, water usage and community protections.

“As data center development threatens to hike up utility bills, deplete our natural resources, and create uncertainty for New Yorkers, it’s my responsibility to take action and lead,” Hochul said in announcing the order.

What the Executive Order Does

The Executive Order immediately pauses state environmental permitting for new hyperscale data centers requiring 50 megawatts or more of electricity for up to one year, giving state agencies until July 2027 to develop a comprehensive regulatory framework.

During the moratorium, New York will prepare a Generic Environmental Impact Statement evaluating the industry’s effects on electricity demand, water consumption, air quality and surrounding communities.

Within 60 days, Empire State Development must also publish a Community Investment Framework designed to help municipalities negotiate community benefit agreements with developers. Those negotiations could include infrastructure improvements, childcare investments, workforce development and direct financial contributions.

Hochul also directed state agencies to explore requiring large data centers to contribute toward electric grid upgrades and said she intends to support repealing an existing sales tax exemption benefiting large facilities, subject to legislative approval.

Why Hochul Took Action

The governor argued that rapid growth in energy-intensive artificial intelligence infrastructure threatens to increase electricity costs for residential customers.

According to the governor’s office, average residential electricity prices in New York have increased nearly 68 percent since 2019.

A Siena College Research Institute poll conducted in June found 46 percent of New Yorkers support a one-year pause on permitting large data centers, while 21 percent oppose the proposal. The survey found majority support among both Democrats and Republicans.

The same poll showed Hochul holding a significant lead over likely Republican gubernatorial challenger Bruce Blakeman, Nassau County Executive.

Industry Pushback

The Data Center Coalition, representing many of the nation’s largest technology companies, sharply criticized the Executive Order.

“Gov. Hochul’s statewide moratorium on data centers will ensure that those investments, jobs, and economic activity flow elsewhere rather than to New York,” said Dan Diorio, the organization’s Executive Vice President for State Policy and Government Affairs.

The coalition argued that modern data centers generate substantial construction activity, long-term tax revenue and support growing artificial intelligence infrastructure.

Supporters of the pause disagreed.

Laura Shindell, New York State Director for Food & Water Watch, called the Executive Order an important step toward protecting communities from uncontrolled development.

State Assemblymember Didi Barrett said residents deserve a better understanding of how rapidly expanding data centers affect local infrastructure, natural resources and electricity prices before additional projects move forward.

What Comes Next

The Executive Order differs from legislation already passed by the New York Legislature.

Lawmakers previously approved the Responsible Data Center Development Act, which would impose a one-year moratorium on facilities consuming 20 megawatts or more, establish separate electric and water rate classes for large data centers and require public hearings before project approval.

Hochul has not signed that legislation, saying additional negotiations with lawmakers remain necessary while her Executive Order provides immediate action.

New York joins a growing number of states reassessing incentives for large data center development.

Earlier this year, Maine Governor Janet Mills vetoed a proposed moratorium because it failed to exempt projects already underway, while Arizona Governor Katie Hobbs signed legislation establishing a three-year pause on new sales tax incentives for data centers.

The timing is significant.

Regional grid operator PJM Interconnection is currently operating under Maximum Generation and Hot Weather Alerts amid record electricity demand. PJM’s most recent capacity auction cleared at a record $333.44 per megawatt-day, with independent market monitor Monitoring Analytics attributing roughly 63 percent of the increase to growing data center electricity demand.

The political fight between Trump and Hochul ultimately centers on a broader national question: how to balance artificial intelligence investment, economic development and rising electricity costs as data centers consume ever-larger amounts of power.

JBizNews Desk | New York

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The move comes less than a day after emergency meetings were held by senior Sanz er activists to coordinate a series of nationwide demonstrations in response to the arrests. News of the Rebbe’s personal involvement surprised many Chassidim and is being viewed as a major escalation in the campaign.

According to organizers, the decision was made after an avreich and a yeshivah bochur from the Sanzer community were arrested in recent days under Israel’s military draft law. The Rebbe will interrupt his stay in Caesarea, where he had been resting, and is expected to arrive Thursday evening at 7:00 p.m. at the entrance to Military Prison 10.

He will be accompanied by thousands of Sanzer Chassidim from across Israel, who are expected to travel to the prison on organized buses for what organizers describe as a massive prayer gathering and protest outside the prison walls.

Those coordinating the event say the Rebbe’s decision represents a significant breakthrough in the campaign against the draft law. He will become the second member of the Chassidishe Agudas Yisroel’s Moetzes Gedolei HaTorah to personally lead a demonstration outside the military prison together with his Chassidim. The first to do so was the Gerrer Rebbe.

{Matzav.com}

By Y.M. Lowy

If you’re traveling down McDonald Avenue today, expect some slowdowns under the elevated train tracks.

Crews are doing heavy structural work and repainting the steel structure, with workers directing traffic through the construction zone. Temporary ‘No Parking’ signs are posted in the area to make room for the work.

Drivers should expect delays and use extra caution while passing through. Be sure to check the posted parking signs, as parking restrictions are in effect during the work.

MANILA, Philippines (AP) — Three suspects have been arrested in connection with the killing of a distinguished American marine biologist at his home in the central Philippines, police said Thursday.

Three men broke into the house of Kent Carpenter, 73, in the coastal town of Sibulan in Negros Oriental province during a suspected robbery on Sunday. One of them is alleged to have shot the scientist in the head with a handgun as he sat on a sofa, police officials said. Another suspect forced Carpenter’s Filipino companion into a room and raped her.

The suspects took a laptop, an unspecified amount of cash and a backpack before fleeing, national police spokesperson Col. Allen Rae Co said. The third man is being hunted, Co told a news conference, adding that investigators were trying to determine why the suspects shot Carpenter.

A fourth suspect, who acted as a lookout outside the property, was arrested after surrendering to police and allegedly provided crucial details of the crime.

One of those arrested had previously been hired by Carpenter to do some carpentry work in his house, Co said, adding that the arrested suspects include the alleged gunman.

“All indicators as of now point to the fact that the attack was not connected to (the American’s) work,” Co told reporters. “It was really a planned robbery. So, we are still verifying why they killed the American marine biologist.”

Several U.S. and Philippine environment and biodiversity centers and universities have expressed shock over Carpenter’s violent death.

Carpenter had testified for the Philippine government when it took China to international arbitration over longstanding disputes in the South China Sea. His testimony as a biodiversity expert centered on the environmental impact of China’s island-building and fishing activities in the disputed waters, according to former Philippine officials who had knowledge of his contribution.

The arbitration panel in The Hague invalidated China’s expansive claims and pointed out the environmental damage caused by China’s construction of islands in the disputed waters in a July 2016 decision. China, however, questioned the panel’s jurisdiction, refused to participate in the arbitration and rejected its ruling as a sham.

Carpenter had been a longtime lecturer and researcher at the Silliman University in Negros Oriental. He had also been a biological sciences professor at Old Dominion University in Norfolk, Virginia, since 1996.

His research — which focused on the Philippines and the Coral Triangle between the Indian and Pacific oceans — shaped conservation efforts around the world, officials of the American university said. They said he was on an extended research assignment in the Philippines and planned to retire in September.

“He dedicated his career to expanding our understanding of the world’s bodies of water and protecting some of its most vulnerable ecosystems,” Old Dominion President Brian Hemphill said in a statement.

The Israeli government has paved the way for certain yeshivos to lose valuable tax benefits after informing the High Court that Torah institutions will now be required to certify that none of their talmidim are subject to military service and have failed to regularize their status.

The policy centers on Section 46 of Israel’s Income Tax Ordinance, which allows donors to approved nonprofit organizations—including yeshivos—to receive tax credits for their contributions. A petition filed by the “Israel Hofsheet” organization argued that institutions with talmidim who are obligated to serve in the military but have not resolved their status should not qualify for those tax benefits.

During Thursday’s court hearing, the state largely adopted the petitioners’ position, announcing that yeshivos seeking to obtain or renew Section 46 approval will be required to declare that none of their talmidim fall into that category. Institutions will also be required to submit relevant student lists for review.

According to the state, letters have already been sent to 147 Torah institutions. Even yeshivos that already hold valid Section 46 approval will be required to submit documentation demonstrating compliance. Institutions found not to meet the new requirements could face proceedings to revoke their approval after a hearing.

Following the state’s announcement, the High Court ruled that the petition had become moot because the government had already accepted the core of the petitioners’ demands and begun implementing the new policy. The petition was dismissed without costs, and the court emphasized that it was not ruling on the legality of the new policy itself. Institutions affected by the changes will be able to file separate legal challenges.

Notably, the Netanyahu government and Finance Minister Betzalel Smotrich did not present a legal challenge to the state’s position or seek separate representation before the court. As a result, the policy advanced without the High Court having to issue a substantive ruling compelling the government to act.

(YWN World Headquarters – NYC)

JERUSALEM (VINnews) – An Israeli judicial oversight official has upheld a complaint against Chief Rabbi David Yosef over public remarks criticizing the country’s judiciary during a dispute surrounding a High Court hearing that took place on Shabbat.

In a decision released Thursday, retired Judge Asher Kula, who serves as commissioner for complaints against judges, concluded that the chief rabbi’s comments fell outside the scope of his official responsibilities and therefore were not entitled to the special protections generally afforded to statements made in the course of performing his duties.

Kula said the remarks directed at Israel’s High Court of Justice crossed the line from legitimate public criticism into rhetoric that could undermine public confidence in the judicial system. He wrote that senior public officials, particularly those serving in judicial or quasi-judicial roles, are expected to maintain a level of restraint in their public statements.

The complaint stemmed from comments Yosef made during a public controversy over the High Court’s decision to convene a hearing on Shabbat, the Jewish Sabbath. The issue sparked criticism from some religious leaders and lawmakers, who argued that holding judicial proceedings on the holy day showed insufficient respect for religious observance. Others defended the court’s authority to schedule hearings when circumstances require.

While upholding the complaint, Kula did not impose disciplinary measures or other sanctions against the chief rabbi.

In the same decision, however, the commissioner rejected a separate complaint concerning Yosef’s criticism of a High Court ruling requiring the Chief Rabbinate to permit women to take examinations for rabbinical certification. Kula determined that matter falls within the chief rabbi’s official responsibilities and that his comments on the issue did not warrant intervention.

The ruling marks the latest chapter in longstanding tensions between Israel’s judiciary and some religious and conservative leaders, who have accused the courts of overstepping their authority in matters involving religion and state. Supporters of the judiciary argue that the courts play an essential role in safeguarding the rule of law and protecting individual rights.

Prime Minister Benjamin Netanyahu has postponed his planned trip to the United States, the Prime Minister’s Office announced on Thursday.

The reason for the delayed departure is the postponement of former US senator Lindsey Graham‘s funeral, which was rescheduled to the end of the month.

Previously, Netanyahu had been set to fly to Washington on Saturday night to attend Graham’s funeral and to meet with US President Donald Trump.

Netanyahu’s official visit will mark first since Iran war

Netanyahu was expected to remain in Washington through Tuesday, but his itinerary was yet to be officially scheduled, sources told The Jerusalem Post.

The prime minister’s visit would mark the first official trip to Washington since the war with Iran. His last visit was in February.

During a recent phone call made by Netanyahu to congratulate Trump on the 250th anniversary of US independence, the two leaders agreed to “meet soon.”

Amichai Stein contributed to this report.

This post was originally published on here.

JERUSALEM (VINnews) — The Knesset on Thursday approved in its second and third readings a bill sponsored by MK Limor Son Har-Melech, chairwoman of the Knesset Lobby for Charedi and Religious Women from the Otzma Yehudit party, allowing institutions of higher education to offer gender-separate academic programs for advanced degrees.

The law reverses the situation created by a High Court of Justice ruling that prevented universities from operating separate programs at the graduate level, returning the decision to the legislature and the academic institutions themselves. Under the new law, each institution will be able, at its own discretion and according to demand, to open separate study tracks for men and women, thereby expanding access to higher education for those who wish to combine academic studies with their religious beliefs and lifestyle.

Until now, this policy created a significant barrier for thousands of men and women seeking advanced academic degrees without compromising their way of life. In many professions, a master’s degree is a prerequisite for eligibility in civil service tenders, advancement within the public sector, management positions, and higher earning potential.

In practice, the inability to study in a framework consistent with their religious convictions prevented many people from pursuing senior positions, government appointments, and professional advancement. Supporters of the law say it removes this obstacle and enables individuals to advance based on their abilities while remaining faithful to their values.

MK Limor Son Har-Melech welcomed the legislation, saying: “Today, the Knesset declared clearly that genuine freedom of choice also includes the right to study in separate academic programs. For years, a single worldview was imposed on the public, preventing thousands of men and women from advancing academically without giving up their way of life.

“The harm extended far beyond education itself. When an advanced degree is a prerequisite for professional advancement, senior positions, and eligibility for government tenders, the result was the exclusion of an entire sector from positions of influence, leadership, and employment. A society that believes in equal opportunity cannot force people to choose between their careers and their faith.

“The law we passed today forces nothing on anyone. It expands freedom, promotes diversity, and respects the human mosaic of Israeli society. Anyone who truly believes in pluralism must also respect choices that differ from their own worldview.

“This is a victory for freedom of choice, justice, and for a public that for years was excluded from academia and professional opportunities in the name of a progressive ideology. In a Jewish and democratic state, there must be room for every citizen, including those who wish to pursue higher education while remaining true to their faith and values. I am proud to have led this important reform, which will enable thousands of students to fulfill their academic ambitions, advance in the workforce, and open doors that have long been closed to them.”

She also thanked National Security Minister Itamar Ben Gvir, Education Minister Yoav Kisch, MK Yosef Taieb, Education Committee Chairman MK Zvi Sukkot, Coalition Chairman Ofir Katz, her staff, and others who helped advance the legislation.

Dr. Malkali Bloy Chanukah, director of the lobby, called the vote “a historic day and the correction of a long-standing injustice for thousands of Haredi and religious women.”

“The new law removes the barrier that prevented talented women from pursuing advanced degrees, opening the way to positions of influence and senior leadership. The notion that a woman had to choose between her professional aspirations and her commitment to Torah values was paternalistic. Today we restored genuine freedom of choice.”

Anat Gopstein, another director of the lobby, added:”The law’s approval is a victory for freedom of choice and for the dignity of women who seek to study while remaining faithful to their traditions and way of life. For years, alien worldviews prevented religious and charedi women from advancing academically simply because they wished to preserve their values. The lobby will continue working to ensure that every woman can reach the highest professional levels with pride in her identity.”

Israel Police announced a special security and traffic deployment ahead of a planned protest Thursday afternoon in the Bnei Brak area by members of the Peleg Yerushalmi faction affiliated with HaRav Tzvi Friedman. The demonstration is being held in protest of the recent arrests of yeshiva bochurim who declined to report for military service.

Beginning at approximately 4:00 p.m., police warned of significant traffic disruptions, including the possible closure of Route 4 in both directions between the Aluf Sadeh and Em Hamoshavot interchanges. Heavy congestion and additional road closures are also expected along Jabotinsky Street in Bnei Brak.

Dan District police officers will be deployed throughout the area to direct traffic and maintain public order. Authorities are urging motorists to use alternate routes, monitor traffic updates, and avoid the protest area whenever possible.

Police reiterated that they respect the right to peaceful protest but stressed that they will not tolerate disturbances, road blockages, or any actions that endanger public safety.

(YWN World Headquarters – NYC)

Financial markets sharply reduced expectations that the Federal Reserve will raise interest rates at its July meeting after two consecutive inflation reports came in cooler than investors feared.

Traders were pricing in a 10.2% probability that the Federal Reserve would raise its benchmark interest rate by 25 basis points at the conclusion of its July policy meeting, according to CME FedWatch data cited by Reuters on Wednesday. That was down from 31% one week earlier.

A basis point equals one-hundredth of a percentage point. A 25-basis-point increase would therefore raise the federal-funds target range by one-quarter of a percentage point.

The shift followed Tuesday’s Consumer Price Index report and Wednesday’s Producer Price Index report, both of which showed less inflation pressure than markets had anticipated.

Markets move from fear toward a pause

Before this week’s inflation reports, investors were increasingly concerned that the Federal Reserve might need to raise rates again to prevent inflation from becoming entrenched.

Market pricing changed substantially after the data.

Following Tuesday’s Consumer Price Index release, federal-funds futures reflected an 84.5% probability that the Federal Reserve would leave its target range unchanged at 3.5% to 3.75% at the July meeting. The probability of a rate increase stood at 15.5% at that point.

After Wednesday’s Producer Price Index report, the implied probability of a July increase fell further, to 10.2%, according to the later CME FedWatch reading reported by Reuters.

These figures represent market expectations, not a Federal Reserve commitment. The central bank has not promised to leave rates unchanged, and pricing can shift quickly when new economic information arrives.

Consumer inflation remains elevated

Tuesday’s report showed annual consumer inflation of 3.5%, below fears that the reading could exceed 3.8%, according to Reuters’ market reporting.

Although 3.5% was cooler than investors feared, it remained above the Federal Reserve’s long-term goal of 2% inflation.

That means the central bank is not declaring victory.

The softer reading instead reduced the immediate pressure for another increase and gave policymakers additional time to study employment, wages, consumer spending, energy prices and broader business conditions.

Wholesale prices provide a second encouraging signal

Wednesday’s Producer Price Index showed an unexpected monthly decline in June.

The Producer Price Index measures prices received by domestic producers for goods and services. It can provide an early indication of inflation moving through supply chains before some costs reach consumers.

Reuters described the report as the second consecutive day of cooler-than-expected inflation data.

The two reports together suggested that inflation moved in a more favorable direction during June.

However, both reports measured conditions before the latest escalation in the conflict between the United States and Iran.

Oil remains the largest immediate risk

The inflation outlook could change if fighting in the Middle East continues pushing oil and transportation costs higher.

Energy affects nearly every part of the economy. Higher oil prices increase expenses for airlines, trucking companies, manufacturers, farmers, delivery businesses and households.

Businesses may absorb those costs through lower profits or pass them to customers through higher prices.

Reuters noted that renewed fighting and competition for control around the Strait of Hormuz could create additional price pressure after the period measured by the June inflation reports.

That means the Federal Reserve must weigh encouraging backward-looking data against newer risks that may not yet appear in official inflation statistics.

Federal Reserve officials remain cautious

Federal Reserve Governor Lisa Cook said she was prepared to act if inflation did not begin slowing soon, underscoring that policymakers remain concerned about persistent price pressure.

Federal Reserve decisions are based on a range of economic information, not a single report.

Officials will consider inflation, employment, wage growth, financial conditions, consumer demand and international developments before deciding whether to hold, raise or eventually lower rates.

What lower rate-hike odds mean for consumers

A decision to leave rates unchanged would not immediately make borrowing inexpensive.

Credit-card rates, business loans, mortgages and auto financing remain affected by the Federal Reserve’s current restrictive policy and broader bond-market conditions.

However, reduced expectations for additional increases can limit upward pressure on borrowing costs.

Treasury yields often fall when investors expect a less aggressive Federal Reserve. That can eventually influence mortgage pricing and corporate financing.

The outlook can still change quickly

The market’s current expectation is that the Federal Reserve will remain on hold in July.

That expectation is not guaranteed.

A renewed rise in oil prices, stronger-than-expected employment, faster wage growth or another acceleration in consumer inflation could increase the likelihood of tighter monetary policy later in the year.

For now, two cooler inflation reports have given businesses, consumers and investors some relief by reducing fears of an immediate rate increase.

The Federal Reserve’s final decision will depend on whether that improvement continues—and whether the latest geopolitical shock begins showing up in American prices.

JBizNews Desk | Washington

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