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As foreign investors warn over Israel’s future, ratings firm accused of anti-Israel bias says it’s not worried — for now
(JTA) — As much of the financial world increasingly eyes political developments in Israel with concern, a company that specializes in assessing investments based on social responsibility criteria made a special announcement Wednesday in which it declared Israel “a low-risk country.”
That designation is both a signal to investors that they are unlikely to get entangled in human rights abuses or other scandals if they put their money in Israel, and a reassurance intended for pro-Israel advocates who have accused the company of bias against Israel.
The announcement from the multibillion-dollar Chicago-based financial research firm Morningstar is the latest entry in a debate about how companies around the world should regard the Israeli-Palestinian conflict. One side says that Israel should be treated as regular Western democracy and the other says that Israel’s treatment of the Palestinians should put the country in the class of authoritarian regimes.
But another debate about Israel’s investment worthiness has emerged in recent months following the election of a new Israeli government led by Benjamin Netanyahu, whose slim parliamentary majority relies on the support of parties with far-right platforms.
Netanyahu, who is on trial for corruption, has vowed to overhaul Israel’s judicial system and rein in the independence of the courts. Many financial analysts consider a weakened judiciary a red flag for investors.
Sarah Wirth, a spokesperson for Morningstar, said that its analysis designating Israel a low-risk country does not yet account for recent developments in Israel.
“Some of the changes developing in Israel may impact their Country Risk Rating once we incorporate them into our analysis,” Wirth wrote in an email to the Jewish Telegraphic Agency in reference to the judicial reform plan.
The latest warning about Israel’s place in the global economy emerged Friday with the leak of an internal report written by JPMorgan, one of the largest banks in the world.
The report compared Israel to Poland, which passed a similar judicial reform in 2016 and saw a downgrade to its credit rating, which was a major blow because national credit ratings can either attract or drive away investments from abroad.
JPMorgan analysts wrote that Israel’s credit rating still “stands comfortably in the investment grade bucket” but that Netanyahu’s plan could cause it to go down.
The report adds to a warning by another Wall Street giant, Goldman Sachs, which said last week that the Israeli shekel could be affected by “growing concern over domestic political developments.”
“The five most recent elections over the past three-year period have had typically limited read-through to financial markets,” Goldman Sachs economist Tadas Gedminas wrote in a report. “This is not to say that the current situation could not have a more meaningful impact this time around, and we will closely monitor ongoing developments.”
Netanyahu has rejected criticism of his judicial plan by saying that the proposed reforms are being misrepresented by his critics and that they would merely bring Israel’s courts in line with courts in other Western countries. The plan would limit the ability of the Supreme Court to rule laws and government actions as unconstitutional, give the government control over the appointments of new judges and end the independence of the position of legal advisor across various government offices, among other measures.
Netanyahu has also said that regardless of the warnings by analysts, international investors are excited about Israel and eager to acquire equity in Israeli companies. His latest pronouncement came from France where he said he met with 60 local business leaders.
“What they’re saying about investors running away is nonsense,” Netanyahu said. “We want to increase our investments in Israel.”
Some of Israel’s own business leaders are concerned enough about the country’s direction that they are choosing to decamp. The CEO of tech company Verbit, which was valued at $2 billion in 2021, announced Tuesday that he would leave the country to avoid paying millions in taxes as a protest of the judicial overhaul plan.
“Over the past few years, I’ve paid tens of millions of dollars in taxes and my company has paid hundreds of millions in taxes,” Verbit CEO Tom Livne said on Israel’s Channel 12. He encouraged others in Israel’s vaunted tech sector to do the same.
Livne’s announcement comes about a week after two Israeli tech firms, including one that was valued at $3.7 billion in 2021, said they would withdraw assets from Israel for the same reason.
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The post As foreign investors warn over Israel’s future, ratings firm accused of anti-Israel bias says it’s not worried — for now appeared first on Jewish Telegraphic Agency.
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A Yiddish favorite is among the top baby names in New York
Each year around this time, the Social Security Administration releases a list of the most popular baby names for the past year. This year, New York state’s list includes the Yiddish name Gitty, as well as five other traditional Ashkenazi names: Chana, Chaya, Rivka, Chaim and Moshe.
According to this interactive list in the Times Union, 43 of every million babies in the U.S. were given the name Gitty in the past six years.
The vast majority of these babies were apparently born in either Yiddish-speaking Hasidic families or in non-Yiddish speaking Haredi families (often referred to as “Yeshivish”) who maintain the tradition of giving their children Biblical and other traditional Jewish names, often after a deceased relative.
Although some people may be surprised to hear a Yiddish name like Gitty making the list, it lines up with the most recent statistics on language use. According to this study, in households with children aged 5 and under, Yiddish ranks as the third most common home language in New York (spoken by roughly 3% of young children), trailing only English and Spanish.
It also makes sense in light of the most recent demographic breakdown of Jewish families in the New York area. According to this 2023 UJA study, Orthodox families represent about 19% of Jewish households (approx. 430,000 individuals, including children) — a group that’s growing rapidly due to higher birth rates and younger average ages, with about two-thirds identifying as Haredi (ultra-Orthodox) and the rest as Modern Orthodox.
The name Gitty is a variant of the name Gitl, which means “good” in Yiddish. Why then are these babies called Gitty instead of Gitl? This is part of a trend that began years ago, when Haredi children’s names adopted a “y” at the end, apparently mimicking the old American tradition of ending children’s names with a “y” (think Tommy instead of Thomas). As a result, Rivka became Rivky; Moshe (or Moishe) became Moishy and Gitl became Gitty.
The post A Yiddish favorite is among the top baby names in New York appeared first on The Forward.
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Trump’s humiliation of Netanyahu marks a sea change in the US-Israel relationship
Israeli Prime Minister Benjamin Netanyahu’s carefully cultivated image as a master of geopolitics is on life support after reports that President Donald Trump on Monday cursed and mocked him in a phone call, calling him “f- – – ing crazy” and ordering him to stand down in Lebanon.
In response, Netanyahu’s opponents and even some of his former allies are accusing him of mortgaging Israel’s sovereignty and reducing the country to strategic dependence on Washington. They’re right. Trump is treating Netanyahu less like the leader of a sovereign ally and more like a subordinate expected to obey instructions.
As a result, Israel suddenly looks less like an independent regional power and more like an American client state.
A rupture long in the making
The roots of this humiliation stretch back months, to the beginning of the Iran war itself. In early March, Secretary of State Marco Rubio suggested that the United States entered the war because Israel was preparing to strike Iran and the White House feared that Tehran would retaliate against American forces afterward.
Ever since, American officials, including Trump himself, have disseminated the narrative of the war as a preventive intervention designed partly to manage the consequences of expected Israeli escalation. But as the war has dragged on, becoming exactly the kind of open-ended Middle Eastern entanglement Trump once promised to avoid, the public narrative has instead increasingly become that Netanyahu had talked Trump into a war that backfired, making Trump look foolish.
This week came the payback.
On Monday, Netanyahu publicly threatened major strikes on the Shiite neighborhoods of Beirut if Hezbollah attacks continued. Iran responded by suspending ceasefire talks, apparently gambling that Trump wanted an exit ramp badly enough to restrain Israel rather than risk a wider regional explosion. The gamble worked.
In the Monday call, Trump reportedly ordered Israel to cease fire immediately, demanding to know “what the f – – -” Netanyahu was doing, accusing Israel of causing escalation, and declaring — incorrectly — that he had “kept Netanyahu out of jail,” a reference to his efforts to persuade President Isaac Herzog to pardon Netanyahu in his ongoing corruption trial.
Intentional humiliation
American presidents have pressured Israeli leaders before. Prime Minister David Ben-Gurion withdrew from the Sinai peninsula in 1957 under heavy pressure from then-President Dwight Eisenhower after the Suez Crisis. Washington pressured Israel to stop military operations during the 1973 Yom Kippur War and again during the 1982 Lebanon War.
Yet previous confrontations unfolded differently. American presidents pressured Israeli leaders privately while preserving the appearance of mutual respect between allies. Even when Washington prevailed, both governments generally tried to avoid publicly humiliating each other.
This time the humiliation was part of the strategy — a change that bodes ill for Israel’s standing as an independent regional power.
Trump wants Tehran, Beirut, Riyadh, Doha, Cairo, and every other Middle Eastern capital to understand that he controls the pace of escalation, and that Netanyahu obeyed when ordered to stand down.
That public spectacle explains the intensity of the Israeli backlash.
“There has never been an Israeli prime minister who accepted such a humiliating demand,” former military chief and current prime ministerial candidate Gadi Eisenkot wrote on social media. Former prime ministers Naftali Bennett and Yair Lapid, whose coalition poses a major threat to Netanyahu’s control in upcoming elections, effectively slammed Netanyahu as allowing the U.S. to dictate Israeli military policy, with Bennett accusing Netanyahu of running “a government that has lost control of Israeli sovereignty.”
Even the conservative Jerusalem Post sounded the alarm. Israel had “found itself in the humiliating position of having to seek American approval to defend its own citizens,” the paper argued in an editorial. “The United States is now actively restraining Israel from taking decisive military action.”
Netanyahu’s image in tatters
For years, Netanyahu cultivated an image of himself as uniquely capable of managing Israel’s relationship with the U.S. while preserving Israeli strategic independence. His supporters portrayed him as a geopolitical virtuoso who understood American politics better than any rival and who could navigate complex power dynamics while defending Israeli interests.
Now that image lies in ruins.
Over the last decade, Netanyahu systematically alienated nearly every pillar of Israel’s traditional support structure aside from the American right.
He offended European governments through relentless settlement expansion, confrontations with the European Union, and contempt in response to liberal Western criticism. Europe remains Israel’s largest trading partner, yet Israel now faces the growing possibility of sanctions, diplomatic isolation, and even challenges to its associated nation status with the European Union.
Then came the rupture with the American Democrats.
In 2015, Netanyahu traveled to Washington to campaign openly against then-President Barack Obama’s nuclear agreement with Iran before a joint session of Congress. Strategically, that marked a turning point. Netanyahu transformed support for Israel from a matter of bipartisan American consensus into an increasingly polarized issue.
Afterward, he tied himself even more tightly to the Republican right, and especially Trump. He cultivated the impression that he exercised unusual influence over Trump himself, encouraging supporters to believe that he had effectively turned the White House into an extension of his own political operation.
That illusion has now collapsed spectacularly.
The final and perhaps most reckless step came when reports emerged that Netanyahu sought Trump’s intervention regarding his corruption trial. Even without confirming those reports’ accuracy, the perception that an Israeli prime minister already dependent on Washington for military and diplomatic backing was now personally dependent on an American president for political survival was devastating.
This week confirmed that dependence now defines the U.S.-Israel relationship. Netanyahu, the supposed master statesman, has maneuvered himself — and Israel — into a strategic cul-de-sac. Now the question is: Is there any way out?
The post Trump’s humiliation of Netanyahu marks a sea change in the US-Israel relationship appeared first on The Forward.
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NYU student draws hate crime charges for flying flag with swastikas, Star of David over campus building
(New York Jewish Week) — A New York University student is facing hate crime charges for allegedly raising a flag depicting a Star of David, two swastikas and the letters “NYU” over a university building during commencement last month.
Alexander Stepnowsky, 23, of Fairfield, Connecticut, was arrested Tuesday afternoon on the Lower East Side of Manhattan and charged with one count of hate crime burglary, two counts of aggravated harassment and one count of criminal trespassing in a hate crime, according to the New York City Police Department.
An NYU spokesperson said Stepnowsky would also face discipline from the university.
“The symbols that were represented are antisemitic and hateful to every person of conscience; this appalling act violated our sense of community and solidarity,” said the spokesperson, Wiley Norvell. “In addition to criminal proceedings, we will immediately pursue our disciplinary procedures, which carry the most severe consequences.”
The arrest comes as NYU has faced heightened scrutiny over antisemitism and anti-Israel rhetoric on its campus in recent years. In 2024, the school revised its hate speech policy to define slurs against “Zionists” as potentially in violation of its harassment code. During this year’s commencement, the school withheld the diploma of student who used his address to accuse Israel of genocide.
The flag depicting the swastikas flew briefly over the roof of New York University’s Steinhardt building, named for the major Jewish philanthropists Michael and Judy Steinhardt, during the school’s commencement on May 13.
Michael Steinhardt is a co-founder of Birthright, the organization that underwrites free trips to Israel for young Jewish adults.
Stepnowsky pleaded not guilty at his arraignment Wednesday and was released without bail, according to CBS News.
The office of Stepnowsky’s lawyer, Vickie Mwitanti, declined to comment.
The post NYU student draws hate crime charges for flying flag with swastikas, Star of David over campus building appeared first on The Forward.
