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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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Supreme Court reinstates murder conviction in Etan Patz disappearance case

(JTA) — The Supreme Court on Monday reinstated a murder conviction for the man convicted of killing Etan Patz, the 6-year-old Jewish boy whose 1979 disappearance riveted the nation.

In a 6-3 vote, the justices reimposed the conviction of Pedro Hernandez, who was found guilty of kidnapping and murdering Patz in 2017 and was serving a 25-year sentence until a New York federal appeals court ruled last year that he was entitled to a retrial.

The justices granted an appeal from New York prosecutors who urged them to overturn the decision last year, writing in an unsigned opinion that the lower court “exceeded its authority in holding that Hernandez is entitled to relief.”

“Today the Supreme Court agreed with the findings of multiple lower courts and upheld the trial conviction of Pedro Hernandez for the horrific murder of Etan Patz, which changed a generation of New Yorkers,” Manhattan District Attorney Alvin Bragg said in a statement Monday. “This office has remained steadfast in its pursuit of justice for Etan and the Patz family and will continue to stand by this important conviction.”

Harvey Fishbein, a lawyer for Hernandez, told the The New York Times Monday that the Supreme Court’s order meant Hernandez would not get a new trial, adding that his team was “terribly disappointed.”

“We firmly believe that an innocent man is in jail for a crime that he did not commit,” Fishbein said.

Patz vanished in May 1979 while walking to his school bus stop in New York City for the first time. The 6-year-old became one of the first missing children whose photograph appeared on milk cartons nationwide, but despite years of searches and public appeals, he was never found.

Patz’s parents, Julie and Stan, spent decades seeking an arrest for his disappearance, helping to establish a national missing-children hotline. The anniversary of Etan’s disappearance, May 25, also became National Missing Children’s Day.

This article originally appeared on JTA.org.

The post Supreme Court reinstates murder conviction in Etan Patz disappearance case appeared first on The Forward.

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Some of Mamdani’s Jewish allies criticize his use of ‘monsters’ to describe AIPAC

(New York Jewish Week) — New York City Mayor Zohran Mamdani on Monday defended his use of the word “monsters” to describe AIPAC at a rally Friday for progressive candidates, as some of his Jewish supporters expressed concern that the term may connote an antisemitic trope.

The war of words came as the American Israel Public Affairs Committee is increasingly a target of the progressive movement — including in acts of attempted violence — and as progressive Jews have accused some Israeli right-wing figures of dehumanizing liberal pro-Israel lobbying groups.

“Calling AIPAC and its backers ‘monsters’ casts them as less than human, rather than as human beings who are one’s political opponents,” Rabbi Jill Jacobs, head of the progressive rabbinic human rights group T’ruah, wrote in a Substack post Monday.

“I was taken aback,” Rabbi Misha Shulman, a Mamdani supporter who leads the progressive Brooklyn synagogue The New Shul, told the Jewish Telegraphic Agency about the mayor’s comments. “I didn’t like those remarks. It was a little bit of a flag for me.”

At a press conference, Mamdani said he had been quoting Italian anti-fascist philosopher Antonio Gramsci, whose quote ending “Now is the time of monsters” the mayor had cited at the top of his speech. The rally was intended to boost the mayor’s preferred progressive candidates, including Jewish congressional candidate Brad Lander, ahead of New York’s closely watched Tuesday primaries.

“I used the term to describe all those who are preventing the birth of a new world,” Mamdani told a reporter who asked about the word. He continued, “My use of the term is a broad use that speaks to the untenable nature of a status quo that is quite literally starving people in this city, all in the name of sustaining something that we simply cannot defend any longer.” He did not explain how he saw AIPAC as connected to poverty in New York.

Mamdani insisted he was referring to “not solely AIPAC,” but he singled out the organization again in his Monday remarks to reporters, saying the lobbying group was backing “a status quo for immorality.”

During the rally last week, Mamdani had stated that Gramsci’s “monsters take many forms today,” including “AIPAC, for whom the only thing more frightening than democracy being allowed to run its course is an end to genocide and [Israeli Prime Minister Benjamin] Netanyahu’s wars.” He added that AIPAC’s “goal” is “to turn us against one another.”

For some of the progressive Jews who have supported the mayor, his comments sounded alarms about the use of dehumanizing or sinister rhetoric to describe Jewish groups.

But Shulman said it was actually Mamdani’s remarks in the same speech painting AIPAC as a “dark money” group that was most alarming to him. AIPAC, a lobbying organization that also operates a political spending arm, does not conceal its donors, unlike the traditional profile of a so-called “dark money” campaign finance operation.

“For me, the question of dark money was the tougher knot,” Shulman said, calling Mamdani’s remarks a “tactical mistake.” In the context of rising antisemitism, he added, “For a left-wing leader to use that phrase, and invite traditional antisemitism into this conversation in that way, was not smart.”

Shulman is a member of Israelis For Peace, a New York-based ad-hoc group of progressive Israelis who broadly back Mamdani. While not speaking on behalf of the group, he told JTA their internal group chat lit up with debates over the appropriateness of Mamdani’s speech.

Jacobs of T’ruah said Mamdani’s remarks were part of what she described as a “disturbing trend” of recent left-wing attacks on the lobbying group, including Maine Democratic U.S. Senate nominee Graham Platner accusing his GOP opponent of being “bought and paid for by Benjamin Netanyahu” because of AIPAC’s donations to her campaign.

Rep. Ro Khanna, a California Democrat who has aspirations of higher office, also recently became the first sitting member of Congress to sign a pledge from Track AIPAC, a purported AIPAC watchdog that also targets donations from more liberal pro-Israel groups, including J Street.

Over the weekend, a cafe posted on Instagram that it had rejected a payment from liberal Jewish New York Rep. Dan Goldman, whom Lander is challenging in the primary, because the money was “probably coming from AIPAC.” (Goldman has been endorsed by both AIPAC and J Street.)

While noting that AIPAC “absolutely deserves to be criticized, sidelined, and rejected for its decades of negative influence on American foreign policy,” Jacobs wrote that such critiques should be done “without dehumanizing language, and without hinting at a grand Jewish conspiracy.”

Such pushback from Jews who have worked with Mamdani is rare. JTA reached out to representatives for several of the mayor’s most visible Jewish allies on Monday, including Lander and Vermont Sen. Bernie Sanders, who spoke at the same rally. Sanders also criticized AIPAC. Neither returned requests for comment by press time. On social media after the rally, Lander celebrated the event, calling it “a tremendous honor” to rally alongside Mamdani.

IfNotNow and Jews For Racial and Economic Justice, two Jewish activist groups that endorsed Mamdani, similarly did not respond to requests for comment by press time. A spokesperson for Rep. Jerry Nadler, the retiring liberal Jewish Democrat who had endorsed Mamdani’s mayoral bid, also did not respond by press time.

J Street, the liberal pro-Israel lobby that positions itself as a foil to AIPAC, declined to comment on Mamdani’s remarks. Last month, hundreds of Jewish leaders criticized Yehuda Leiter, Israel’s ambassador to the United States, after Leiter called J Street a “cancer within the Jewish community.” Nadler was among the signatories of an open letter that said Leiter “dehumanizes fellow Jews.”

Centrist Jewish groups and figures, already no fans of Mamdani, also bashed his AIPAC comments. “Referring to fellow New Yorkers as ‘monsters’ is outrageous and dangerous, and the impact of your words extends far beyond politics,” American Jewish Committee CEO Ted Deutch wrote on X, addressing Mamdani.

Rep. Josh Gottheimer, a Jewish Democrat representing New Jersey, wrote, “Swap ‘AIPAC’ for ‘Jews’ and it’s the oldest antisemitic conspiracy theory in the books.”

Both posts were reposted by AIPAC, which otherwise did not comment.

The post Some of Mamdani’s Jewish allies criticize his use of ‘monsters’ to describe AIPAC appeared first on The Forward.

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U.K. PM Starmer leaves behind mixed record on antisemitism

(JTA) — U.K. Prime Minister Keir Starmer, who resigned the premiership on Monday, leaves behind a mixed record on fighting antisemitism in the Labour Party that Jewish organizations say will help shape their expectations for his successor.

Starmer announced that he was stepping down outside 10 Downing Street in the morning local time. He made the decision in the wake of mounting pressure from Labour members of Parliament and waning political support after the party’s devastating losses in the May 7 local elections and the success of political rival Andy Burnham in Manchester’s parliamentary election last week.

Burnham, the former mayor of Greater Manchester, has emerged as the leading contender after winning a Manchester-area by-election on Friday with 55% of the vote. Burnham has sought to position himself prominently on antisemitism and relations with the Jewish community in his bid to take over from Starmer.

In a post on X, Burnham thanked Starmer for his leadership and said the PM’s decision to resign “marks the beginning of a transition and it is important that this process is conducted in an orderly and responsible way. I will put myself forward as part of this process.”

Starmer confirmed he would remain on as caretaker prime minister until a successor was chosen.

“The question my party is asking now is whether I am best placed to lead us into the next general election,” he said. “I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.” 

The Jewish Labour Movement thanked Starmer in a post on X, noting that two years ago he inherited the party “at its lowest point” from former party leader Jeremy Corbyn, when it was “institutionally antisemitic.” It added, under Starmer, “our party has a clean bill of health on antisemitism.”

However, Starmer’s tenure was still met with plenty of criticism from the Jewish community over his handling of antisemitism, particularly in light of ongoing antisemitic attacks in the country. In recent months alone, four Hatzola ambulances were lit on fire; there were attempted attacks on three synagogues; two Jewish men in the Orthodox neighborhood of Golders Green were stabbed. Dozens of people have been arrested in connection with the incidents.

Starmer entered office in July 2024, leading his country’s thorny relationship with Israel in the aftermath of the Hamas Oct. 7, 2023, attack against the Jewish and the Gaza war that followed. He angered Israel with steps such as recognizing Palestine as a state and promising to uphold the International Court of Justice’s arrest warrant against Prime Minister Benjamin Netanyahu for war crimes.

With Starmer’s upcoming departure, focus has shifted to the contest to replace him, bringing renewed scrutiny to candidates’ positions on antisemitism, relations with the Jewish community, and Israel.

Starmer said he would give his successor his “full and unequivocal support,” adding that nominations would open on July 9 and conclude before the parliamentary summer recess on July 16.

Board of Deputies of British Jews President Phil Roseneberg posted on X, “When he took on the leadership of the Labour Party the first thing @Keir_Starmer said he would do is ‘tear out the poison of antisemitism by its roots’. His subsequent actions were transformative within the Party.”

He praised Starmer’s government for providing “unprecedented security funding,” and introducing legislation to proscribe the IRGC.

Burnham, for his part, has spoken out against antisemitism in the wake of violence attacks. Following the October 2025 Yom Kippur attack at the Heaton Park Congregation synagogue in Manchester, in which two people were killed, Burnham said in an official release, “Tonight, our first thoughts are with the families of those who have died, those injured and those traumatised by this – a horrific antisemitic attack on our Jewish friends and neighbours. We condemn it outright.”

He also wrote in a post on X on the same day, “Today we have witnessed a vile attack on our Jewish community on its holiest day. We condemn whoever is responsible and will do everything within our power to keep people safe.”

His positions on Israel and Gaza have also come under scrutiny. In a June 4 interview with The Guardian, Burnham did not invoke the term “genocide” in relation to the war in Gaza, but did say, “I can’t judge things of that enormity from where I am as mayor of Greater Manchester.”

He added, “But I do have concerns about the disproportionate nature of what has happened in terms of the destruction, and there has to be a full process of investigation and accountability.”

Additionally, 10 days after the Oct. 7 attacks, Burnham called for a ceasefire in a joint statement with 10 Greater Manchester leaders. The statement read in part, “We condemn unreservedly the appalling terror attacks on innocent civilians in Israel by Hamas on 7th October.”

The statement also noted that Israel has the right to take “targeted action within international law” to defend itself and to rescue its hostages, but added, “We also have profound concerns about the loss of thousands of innocent lives in Gaza, the displacement of many more and widespread suffering through the ongoing blockade of essential goods and services.”

Referencing his expected leadership bid, Culture Secretary Lisa Nandy told the Jewish News on June 17 that Burnham had a few weeks earlier met with Jewish communal leaders in Greater Manchester.

When it comes to Israel, Nandy said Burnham “believes in justice, so he’s acutely aware of the need for a safe homeland for Jewish people, you know, and the particularly unique historical reasons why Israel came into existence.”

The post U.K. PM Starmer leaves behind mixed record on antisemitism appeared first on The Forward.

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