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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. 


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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Cornell condemns student’s viral antisemitic remarks, but won’t bar him from campus

(JTA) — Cornell University is condemning viral antisemitic remarks made by an undergraduate student who appeared on “Piers Morgan Uncensored” earlier this week, but the school’s president says no further action is planned against the student.

During his appearance, the student, Austin Franco, defended his statement in June that he did not want to work with Jews, saying that he did not like most of the Jews he had met. The remark was made in a private message that the company that received it publicized.

“As a university built on the solid foundations of our nation’s democratic freedoms, Cornell has an obligation to fiercely defend freedom of speech — even when we find that speech abhorrent,” Cornell’s president, Michael Kotlikoff, said in a statement issued late Wednesday, shortly after the Jewish Telegraphic Agency reached out to the school for comment on Franco.

“The student’s public comments invoked hateful generalizations and uninformed tropes with a long, ugly history of harm,” Kotlikoff said, adding that “antisemitism generally” is “detestable, ignorant, and fully at odds with the values of the Cornell community.”

Kotlikoff, who is Jewish, did not mention Franco by name in his statement, citing federal privacy law, nor did he specify which of Franco’s comments about Jews the school found objectionable.

His comments once again place Cornell on the front line in tensions over antisemitism at colleges and universities. The school reached a $60 million settlement with the Trump administration last year to resolve antisemitism claims and regain $250 million in funding that had been frozen over campus unrest in the wake of Hamas’ Oct. 7, 2023, attack on Israel.

Cornell was one of the earliest schools to face antisemitism allegations after Oct. 7, 2023, when a professor spoke at a pro-Palestinian rally and said he had been “exhilarated” by the Hamas-led attack against southern Israel, in which more than 1,200 people were killed and 250 taken hostage.

But the latest incident involving Franco had little to do with the subsequent war in Gaza until Tuesday, when the student told Morgan on his YouTube show that he objected to Jews in part because of Israel, which he deemed “a genocidal country.”

The controversy over Franco, a rising junior at the Ivy League university in Ithaca, New York, began in June when he wrote in an internship application that he was “not interested in working for a jew.”

His name and remarks were publicized by the Jewish co-owners of Handshake, the tech company to which Franco had applied for an internship, though Franco has claimed he’d already turned down an offer. His comments prompted online backlash — including from Leo Terrell, the Trump administration’s antisemitism czar, who posted dozens of times about the 19-year-old.

Franco has garnered significant support from the far right, including through a crowdfunding campaign initiated by a YouTuber who had previously drawn criticism for saying he hoped to see “another Hitler.” Franco’s comments to Morgan included positive references to “America First,” the Trump-led nativist movement embraced by the far right.

Cornell had announced it was opening an investigation into Franco when his comments were first publicized. He remained in the headlines after he was secretly filmed by an apparent sting operation led by Accuracy in Media, a right-wing activist group that has targeted pro-Palestinian students and university heads the group deems antisemitic on other campuses. Franco told a hidden camera interviewer connected to the group last week that the university’s investigation had amounted to little and that he would be returning to Cornell.

Asked by Morgan Tuesday to explain his beliefs, Franco said that a Jewish friend of his at Virginia Tech University, where he was enrolled before transferring to Cornell, “said we should genocide all Palestinians.” He named other “bad experiences with Jews” he claimed to have experienced in college, focusing on Jewish campus figures he said had “made things up about me,” and said Jews had “made my life a living hell.”

As Morgan pushed Franco to admit he was antisemitic, the student insisted he was not.

“Not wanting to be around Jewish people does not mean you don’t like them,” he said, adding that one of his exes “was half-Jewish.” He returned to Israel later in the conversation, chargingthat it is a Jewish-led “genocidal country” that insists upon “killing Palestinians and reporters and dragging America into wars abroad.” He concluded, “No, I am not going to want to associate with those people.”

“This is a common sentiment that is held,” Franco said. “If you think this is just me, you are completely wrong.”

Morgan, for his part, concluded, “You kind of made yourself unemployable.”

Franco is facing more immediate consequences, he announced on X on Wednesday. “My parents are kicking me out,” he tweeted, drawing offers of support from a handful of prominent far-right personalities.

Like many other schools that faced unrest after Oct. 7, Cornell has taken steps aimed at countering campus antisemitism while attempting to balance academic freedom concerns, in part as a result of its settlement with the Trump administration. The university commissioned an antisemitism task force and has undertaken several initiatives, including new campus climate surveys and stricter Title VI enforcement. It has also enforced a range of disciplinary actions against pro-Palestinian students.

But when it comes to Franco, one Jewish faculty member at Cornell theorized, the administration’s hands were tied.

“You sort of have to live with it,” Menachem Rosensaft, a visiting professor at Cornell Law School and former general counsel for the World Jewish Congress, told JTA. “He is engaging in obnoxious thought that is not harming anyone else.”

Rosensaft has been at the center of other antisemitism-related controversies at Cornell, including in 2024, when he prompted Kotlikoff to criticize another Jewish professor’s planned class on Gaza — an action that the school’s faculty union said was a violation of academic freedom.

In the case of Franco, Rosensaft argued that Cornell shouldn’t “turn him into a First Amendment martyr.”

But Rosensaft added that there could be grounds for discipline if Franco returned to campus and made harmful comments about Jews in the classroom or in other public spaces.

In 2025, Jonathan Greenblatt, the CEO of the Anti-Defamation League, praised Kotlikoff for what he called “a comprehensive approach to countering antisemitism.” An ADL spokesperson did not return a JTA request for comment on Cornell’s latest statement about Franco.

Franco himself has launched a second crowdfunding campaign to support his housing costs.

“I have reiterated that my parents do not share my views, and it seems they no longer wish to provide me with a home to live in,” he wrote in the description. “I know the road ahead will be difficult, but this is the path I chose. I could have lived a more conventional life, as my parents did, and perhaps in a different time I would have. However, that is not the world we live in today, and because of that, I chose a different path than most.”

This story has been corrected to reflect that the original comments Austin Franco made about not wanting to work with Jews were made in a private message rather than publicly.

The post Cornell condemns student’s viral antisemitic remarks, but won’t bar him from campus appeared first on The Forward.

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Netanyahu showcases diplomatic victories that have expiration dates

(JTA) — A rejuvenated Benjamin Netanyahu returned home to Israel Thursday from Washington, having crossed off everything on his diplomatic shopping list.

Grinning photo op with U.S. President Donald Trump? Check. Iran still a top priotiry? Check. Conciliation with U.S. Vice President JD Vance and conflict with New York Mayor Zohran Mamdani? Check and check. Meetings with top-level senators and with salt-of-the-earth pro-Israel Americans? Check, check and Check!

Had he checked his pen, however, Netanyahu might have found that the ink was running out. To the degree that the Israeli prime minister scored public relations victories during his visit to the U.S. this week, they all have impending expiration dates.

Netanyahu, who faces a tough reelection campaign for the elections to be held on Oct. 27, needs to show the Israeli voters that his claimed superpower, influencing Americans to support the Jewish state, is still potent. His rivals are already making the case that his power is spent.

“Netanyahu’s expectation and hope is that Trump will establish, figuratively speaking, a re-elect Benjamin Netanyahu headquarters in Washington for the next three months,” said Aaron David Miller, a veteran Middle East negotiator under Republican and Democratic administrations who is now a senior fellow at the Carnegie Endowment for International Peace.

The prime minister seemed genuinely elated on Tuesday after he and the U.S. president met at the White House. Contrary to reports ahead of the meeting, Netanyahu said he was not seeking to pull the United States back into an all-out war. Instead, he wanted to see eye-to-eye with Trump on what happens if the talks to end the war fail.

He told ABC News in an interview he was in lock-step with Trump over the three options ahead: “One, to indeed succeed making a deal; two, to continue a blockade; three, to take military action,” Netanyahu said. “Anything that will produce the end of Iran’s nuclear program is what we want. That’s our common goal. We talked about it.”

The problem for Netanyahu is that the deal Trump seeks is anything but satisfying to Israel: The Memorandum of Understanding Vance reached in June, just weeks before the war resumed, allows Iran a stake in controlling – and even profiting from – the Strait of Hormuz, the waterway through which  one-fifth of the world’s petroleum transits, a prerogative the Islamic Republic never before enjoyed.

Privately, Israeli officials have said they don’t expect the deal to happen, and that Trump will eventually turn to options two and three, which the Israelis favor. But Trump’s popularity is cratering ahead of critical midterm elections, inflation is not abating and even as Iran takes shots at ships in the Strait of Hormuz and  its U.S.-allied neighbors, Trump keeps banking on a deal.

“There are very friendly negotiations going on,” he said Monday, the day Netanyahu arrived. “I think there’s a good chance that something could happen.”

But diplomacy wasn’t the only concern during Netanyahu’s visit. Domestic politics dogged Netanyahu in the U.S. capital. Opposition leader Yair Lapid was also in town. Both were ostensibly there for the funeral of South Carolina Republican Sen. Lindsey Graham, a pro-Israel stalwart who backed the Iran war. Lapid in a talk to The Atlantic Council took shots at Netanyahu’s public diplomacy, saying his attacks on Democrats who were critical of Israel were making the country more isolated.

Press releases from Netanyahu’s office sought to reinforce his status as the explainer in chief: He met with prominent senators, he met with Cabinet officials, he met, above all, with Trump.

Yet these releases undercut any claim Netanyahu might have had to the prominence he once enjoyed in the American mind.

The single Democratic senator he met with was John Fetterman of Pennsylvania, whose robust support for Israel makes him an outlier in his party – something Fetterman repeatedly emphasized in the chat Netanyahu’s office posted. “It’s been disappointing as a Democratic politician, how our party continues to behave,” Fetterman said.

Lapid, by contrast, posed for a photo with Democratic senators, including some who have recently criticized Israel stridently, like Sen. Tim Kaine of Virginia. “Boycotting those who oppose you is not the way,” Lapid said on X. ”Repair relations with both parties. It’s not always fun, but that’s what it takes. Not by whining and not by boycotts.”

Netanyahu’s failure to engage with the American left also was evident in video of his meeting with evangelicals. “I’m very grateful to you for your consistent support, for the constancy of your friendship, and now it’s time to fight, fight, fight,” he said, evoking Trump’s famous call when he escaped an assassin’s bullet in 2024.

That prompted Mike Evans, an author who is an outlier among evangelicals for his stridency in advocating for extreme right positions, to lash out at the left using apocalyptic language. “We are fighting right now against the dark side, the leftist, godless dark side, but by the grace of God, we’re going to win this battle,” he said.

Netanyahu also took on Mamdani, who has called for Netanyahu’s arrest, likening his administration of the city to the Nazi era in an interview on Fox News. Mamdani’s wish was never going to come through – he ultimately acknowledged he had no power to arrest Netanyahu – yet his sentiment had staying power: A poll showed 49% of Americans agree that Netanyahu should be arrested.

Linsey Davis, the ABC reporter who interviewed Netanyahu, pressed him on Israel’s plummeting popularity. Netanyahu blamed the rise of social media and said it concerned him – but notably he did not explain how he planned to counter what he described as a propaganda threat to American and Israeli interests.

“I think there’s been a change because of the proliferation of social media and the fact that sovereign countries have manipulated bot farms and other things, and we can see a direct relationship between the proliferation of the social media and the decline in support for Israel,” he said. “Does it concern me? Yes, yes it does. And I want bipartisan support for Israel because I think that’s the fundament of our national security.”

Netanyahu could point to one seeming public diplomacy success: He met with Vance, likely to be a frontrunner for the GOP presidential nomination in 2028, and the vanguard of the sector of the GOP that is growing disaffected with Israel. A U.S. official told Axios the meeting was “cordial and productive,” diplomatese for not warm.

As for the flurry of photo-ops the prime minister’s office sent out from the trip, the one on one with Vance was not among them.

The post Netanyahu showcases diplomatic victories that have expiration dates appeared first on The Forward.

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An Altadena synagogue’s mural was a symbol of community resilience after the LA fires. Antisemitic graffiti only proved the point.

ALTADENA, CALIF. – When Pasadena Jewish Temple and Center held services in the foothills of the San Gabriel Mountains, Chann and Christina An, who lived across the street, sometimes sat on their front porch and listened to the songs.

And when the Eaton fire flattened the PJTC campus last January — and the An home, too — the synagogue helped its next-door neighbors with food donations and gift cards.

“Ever since the fire, they’ve included us like one of their members,” Chann An said.

So when a vandal earlier this week spray-painted swastikas on a mural the synagogue had painted on its only remaining wall, it felt like an attack on them, too. On Thursday, when PJTC organized a community-wide solidarity event at the site, the Ans were among many non-Jewish residents in attendance.

“They’re part of our community, and they’re always welcome, and I want them to feel that way,” said An. “And I want them to feel that all the neighbors support them.”

What typically happens when a Jewish institution is tagged — an increasingly common story these days — is a familiar chain of events: Photos are snapped and posted online; Jewish leaders and local officials issue statements; the tag is covered up and people move on.

In Altadena, all of that happened. But so did something else: The synagogue was inundated with messages of support from surrounding faith institutions and Altadena residents, according to the temple’s executive director Melissa Levy. A few of those neighbors had offered to sand down the graffiti themselves.

Chann An, Christina An and Jim Axtelle were Pasadena Jewish Temple & Center’s neighbors before the synagogue — and their homes — burned in the 2025 Eaton fire. Photo by Louis Keene

“That kind of support has been really beautiful in the wake of all of this,” Levy said.

The Eaton fire devastated Altadena, killing 19 people and leveling cherished community institutions, including the temple’s 75-year-old campus and several other houses of worship. Dozens of congregants lost their homes in the blaze. Where PJTC’s sanctuary, chapel and religious school once stood, weeds now rise five feet off the ground.

The mural had been painted in May in response to graffiti on the same wall earlier this year. At the mural’s center was a fire poppy — a native flower known to rise from ashes — adorned with a message intended to be universal: We are all responsible for each other.

“When we look at the mural,” Christina An said, it reminds them: “We’re all going to be back.”

But this week, those inspiring words were painted over with another. Vandals painted more swastikas alongside the message: “Zionism is not welcome.” No arrests have been made in either instance, and it is unclear whether the same person was responsible for both incidents. LA County Supervisor Kathryn Barger has called on the county to offer a $20,000 reward for information on the culprit.

“There’s an increased feeling of vulnerability after the fire destroyed our home,” said Rabbi Josh Ratner, the synagogue’s senior leader. “To have any stuff happen after that compounds our vulnerability.”

Rising from the ashes

The stone wall abutting Altadena Boulevard was the only one on the complex that remained fully intact after the fire. But it didn’t become a symbol until after it was vandalized earlier this year, when passersby noticed on Jan. 13 that the charred stone wall had been tagged.

That graffiti read “F— Zionism” and “RIP Renee,” the latter message an apparent reference to Renee Nicole Good, an anti-ICE protester who had been killed the previous week in Minneapolis.

In response, synagogue leadership decided to cover it with art. Working with a local group called Art Against Hate, PJTC commissioned a muralist who invited synagogue members to contribute ideas — and recruited their children to help paint it.

The mural was sectioned like stained glass, with Stars of David in the corners and a border containing the animal symbols for the tribes of Israel. A peacock adorned one side — the birds have thrived in the area for more than a century — and while the children were painting it, one approached the scene, seemingly to admire it.

“It was for Altadena as much as the synagogue, and the neighbors appreciated it,” said Judy Callahan, a longtime PJTC member. “I think looking out and seeing it — they still see this vacant lot, but it just made things cheerier.”

Coming together

Many of those neighbors — and a phalanx of local officials — were on hand Thursday to condemn the latest graffiti and watch Miriam Hellmann, the muralist, apply the final touches for a second time.

Ben Boquist was at Thursday’s gathering to show solidarity. “I hate the idea that some of my Jewish neighbors are afraid,” he said. Photo by

Barger spoke, as did Pasadena Mayor Victor Gordo, U.S. Rep. Judy Chu and others. But just as important to the temple members in attendance were the locals who braved the scorching heat to embrace them.

After Ratner spoke, he invited the Rev. Amy Aitken to the podium. Aitken leads the First United Methodist Church of Pasadena, where PJTC has been holding their services for the last year.

After joking that most other Methodist churches don’t have a “campus rabbi” — that is, Ratner — she asked other clergy in attendance to stand up. Nearly a dozen did.

One of them was the Rev. Michael David Lewis of Altadena Community Church, who said he wanted to assure Jewish community members that he considered them family.

“When they are attacked, I want to stand shoulder-to-shoulder with them,” he said. “I want to stand against the hate that was expressed here and stand against the fear that was expressed here.”

Hellmann, who is not Jewish, said every muralist knows their work might get tagged — murals tend to be in prominent places, and vandals want their message to be seen.

But this target had broader resonance than other walls, or even other synagogues. “It’s not just about the Jewish community,” Hellmann said. “It was supposed to be a symbol of hope for a lot of people.”

When Hellmann first painted the mural, she applied a layer of anti-graffiti coating that prevents spray paint from bonding to the surface. But the graffiti was not cleaned off immediately, allowing it to set.

“I’ll keep repainting it every day if I need to,” Hellmann said.

This time, she added an olive branch, that ancient symbol of peace.

“I think that it’s important for non-Jewish people to stand with the Jewish community when there’s antisemitism,” she said. “So I’m happy to be a part of it. I think it’s a beautiful religion.”

The post An Altadena synagogue’s mural was a symbol of community resilience after the LA fires. Antisemitic graffiti only proved the point. appeared first on The Forward.

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