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Politico
3 days ago
- Business
- Politico
Comptroller finds a ‘terrible idea' in the budget
Good Monday morning! It's budget day. And now you can read it here. There weren't too many big surprises in the budget itself — at least that we've found yet, after having access to it for a couple days. The 'fun' taxes on things like bowling are out the window, while the more politically-palatable vice tax increases on smoking and internet gambling remain in, while the extra 'mansion tax' that Murphy initially wanted to apply to home sales of more than $1 million will only be increased for sales of more than $2 million. As John Reitmeyer points out, the 4 percent growth between last year's budget and this one outpaced inflation. It's interesting that the governor's last budget has caused a big fight with the state workers' unions, eight years after he entered office as a pro-union governor after eight years of Chris Christie vs. public workers unions. The budget depends on a $100 million cut to state employees' health care plans. And since it's budget crunch time, it's also time to once again alter the state's film tax incentive program. After behind-the-scenes negotiations between the governor and Legislature, the two sides settled on a bill partly tailored for a studio project in Bayonne. While the bill makes the benefits more generous for certain projects and extends the program by another 10 years, EDA CEO Tim Sullivan told me it doesn't increase the full cost of the program. There is at least one major surprise, and it was Acting Comptroller Kevin Walsh, determined to never lose the 'acting' from his title, who pointed it out. A section of the 373 budget document states that 'no Managed Care Organization that distributes Medicaid funding shall deny a contract' to Medicaid-certified nursing facilities. This, he said, undercuts a Department of Human Services policy that allows managed care organizations to stop funding new admissions at the worst nursing homes until care improves. A report by his office found Medicaid pays out $100 million each year to facilities that perform poorly in inspections. I reached out to the Senate and Assembly Majority offices and they declined to comment. 'This budget provision is a terrible idea,' Walsh said in a statement Sunday. 'It is a giveaway to the nursing home industry and will worsen care in nursing homes. The State should be taking steps to rid NJ of the worst owners, not rewarding them and undoing a commonsense measure that would protect residents. With Medicaid facing drastic cuts at the federal level, our state legislators need to stop caving to the worst of the worst and rewarding those who deserve it the least.' FEEDBACK? Reach me at mfriedman@ WHERE'S MURPHY — No public schedule QUOTE OF THE DAY: 'This is an absurd way to waste the state's time and funds.' — State Sen. Paul Moriarty, on state Sen. Mike Testa's proposal to rename the Delaware Bay to the 'Bay of New Jersey' HAPPY BIRTHDAY — Troy Singleton, Jeanine LaRue, Paul Anzano, Stephanie Miliano, Phil Alagia, Gina LaPlaca WHAT TRENTON MADE IT'S NO FUN TO PAY AT THE N-J-E-A! — A $40 million flameout in New Jersey's race for governor puts scrutiny on teachers union, by POLITICO's Daniel Han and Madison Fernandez: New Jersey's most politically influential union funneled more than $40 million into this year's race for governor — only to land with a fifth-place finish. Now, its political instincts are in question. The New Jersey Education Association made its largest investment in a campaign to support its president, Sean Spiller, in his longshot bid for the governor's mansion. No other special interest group has ever spent as much in state history to promote a single candidate, a sign of an increase of big money in state races following the U.S. Supreme Court's Citizens United decision … Publicly, many lawmakers and union members are hesitant to speak out against the NJEA, which remains in a class of its own when it comes to political influence and has about 200,000 members across the state. But in the aftermath of a multimillion-dollar debacle, some in Trenton are starting to question the union's political prowess. Democratic state Sen. Vin Gopal, chair of the Senate Education Committee, called the spending 'concerning' and said that he's 'talked to a lot of the teachers here in Monmouth [County] and they're pretty frustrated.' 'I think the strength of the NJEA will be questioned after these election results,' Gopal said. 'How does it not?' FRIDAY NIGHT STATEHOUSE LIGHTS — Senate and Assembly committees pass the budget, by POLITICO's Daniel Han and Ry Rivard: New Jersey lawmakers convened for a rare late-night Friday committee meeting to advance the state's $58 billion spending plan for the upcoming fiscal year. The budget now heads for a full Senate and Assembly vote today, when it is expected to be signed by Gov. Phil Murphy. The spending plan covers the fiscal year which begins July 1. It includes around $727 million in additional spending than Murphy proposed in his budget address in February, with some of the governor's top priorities in place — like a $6.7 billion surplus, $12 billion in school funding and a full $7 billion public employee pension payment. While the overall spending plan bears great resemblance to Murphy's early proposal, the final days of negotiations included a few surprises: a nearly $200 million transfer from the Board of Public Utilities' clean energy fund to prop up the general fund and NJ Transit, and a $100 million cut to the state employee health insurance program, which unions and management must agree on. NATIONAL ASSOCIATION FOR THE ADVANCEMENT OF THE COMFORTABLY POWERFUL — ''Rudeness is not a crime.' NAACP warns Norcross case endangers free speech,' by NJ Advance Media's Colleen Murphy: 'The New Jersey NAACP says the state's criminal case against political power broker George E. Norcross III isn't just flawed, it risks turning political speech and civic engagement into crimes. The NAACP, along with the New Jersey AFL-CIO and the New Jersey Building and Construction Trades Council, filed a legal brief last month urging an appellate court to uphold the dismissal of the high-profile indictment against Norcross and five others. 'We're not coming out on the side of George Norcross,' said Gregg L. Zeff, legal redress chair for the NAACP New Jersey State Conference. 'We're coming out on the side of the First Amendment.' … Their brief says the case could discourage legitimate political advocacy and negotiations, especially in communities that depend on public-private partnerships for economic development. It also argues that lobbying, negotiating redevelopment deals, and advocating for public policy are all lawful and essential parts of redevelopment efforts in the state.' OH? — 'What Makes Jersey Run: Sherrill chats about Murphy, taxes, and more after her big primary win,' by NJ Advance Media's Brent Johnson: 'Q: What specifically are your biggest issues with the status quo in Trenton? MS: 'I think it's red tape and bureaucracy. I think it's a permitting process that's completely out of control. Redundancies between different state agencies, filling out paper instead of online, where you can share information across state agencies, computer, systems that don't work to drive down some of these permitting regulations. I think it's just this sense that this is how we've always done it and nothing changes. And I think it's an entrenched bureaucracy, with all of the permitting and paperwork, that has almost gotten so out of control, it's driving up costs to the tune of millions of dollars.'' THIS IS EVEN WORSE THAN DEMOLISHING THE OLD PENN STATION #PRESERVETHEPORTAUTHORITYBUSTERMINAL — 'Port Authority OKs $4.8B Midtown Bus Terminal, commuters call out PATH service,' by Hudson County View's Joe Murray: 'The Port Authority Board of Commissioners approved $4.8 billion for Phase 1 of the Midtown Bus Terminal Replacement Project, also hearing from Hudson County commuters who called out poor PATH service and demanded improvements. The unanimous vote (7-0) came yesterday morning, with the public session also including discussions about ridership levels, facility performance, and key infrastructure initiatives across New York and New Jersey. Board Chair Kevin O'Toole called the project 'probably one of the most single important votes that we will ever face on our tenure on the Port Authority.'' — LaTourette: 'I'm a state leader and gay. Let's stand up against new wave of anti-LGBTQ+ rights' — 'Nearly half of New Jerseyans say state is on wrong track, new poll says' — '$40M internet infrastructure expansion for underserved parts of NJ' — 'Former NJ Senate President Steve Sweeney tapped to serve as Rowan University trustee' R.I.P. — 'Catherine Costa, former N.J. senator, dies at 99' TRUMP ERA ROLLING THE GIUDICE — ''I'm asking for a second chance': Ex-reality TV star Joe Giudice seeks Trump pardon,' by The Record's Kyle Morel: 'A former New Jersey reality TV personality took to social media in hopes of securing a pardon from President Donald Trump after several years out of the United States following a stint in prison. Joe Giudice, whose ex-wife Teresa is the only cast member to appear in all 14 seasons of 'The Real Housewives of New Jersey,' shared his plight in a June 26 Instagram post tagging both Trump and his son, Don Jr. Giudice said he has been deported from the country for 'nearly a decade' after he was convicted and sent to jail for tax fraud. 'I was raised in Jersey, I'm a father of four amazing daughters, and I just want to be allowed to visit them again,' the post read. 'President Trump, I respect you and I'm asking for a second chance.' … Trump has already shown a willingness to grant pardons for former reality TV stars convicted of tax fraud during his second presidential term.' — Platkin expresses confidence in birthright citizenship case — 'Democrats wrestle with how to conduct oversight as Trump officials crack down' — 'Immigrant detentions in New Jersey and Pennsylvania hit highs not seen since 2011' — 'New Jersey immigrant advocates renew call for more protections in wake of Supreme Court ruling' — 'Point Pleasant Beach native gets Congressional Gold Medal as one of last WWII Army Rangers' LOCAL WHEN McKOY STOPS BEING POLITE AND STARTS GETTING REAL — 'Former Paterson councilman rips AG for delays on 5-year-old election fraud case,' by the Paterson Press' Joe Malinconico: 'William McKoy, who spent 20 years on the City Council, says the state attorney general owes the people of Paterson an explanation for the five-year duration of the still-pending election fraud case against current Council President Alex Mendez. Otherwise, McKoy said the state prosecutors ought to start the trial against Mendez without further delay, assertions he made in statements issued to Paterson Press on June 26 and June 27. 'The residents' and voters' confidence in the justice system has been shattered and must be restored,' McKoy said. 'This is the sole responsibility of the attorney general.' McKoy has more than a passing interest in the case. He was the other candidate in the 3rd Ward council election in May 2020 in which state investigators say Mendez and his campaign staff stole absentee ballots from home mailboxes, destroyed those with votes for McKoy, and replaced them with votes for Mendez.' SMALL TRIAL — 'August trial date set for Atlantic City mayor in alleged child abuse case,' by The Press of Atlantic City's John O'Connor: 'Atlantic City's mayor accused of abusing his teenage daughter is tentatively scheduled to go on trial in August, according to court records. The court intends to begin the trial of Marty Small Sr., 51, the week of Aug. 4, Superior Court Judge Bernard DeLury wrote in documents Thursday. 'Should additional time be necessary, trial will continue during the week of August 11, 2025,' DeLury wrote. 'Assuming that the matter is ripe for trial.' Small and his wife, schools Superintendent La'Quetta Small, 48, are each charged with endangering the welfare of a child. Mayor Small also is charged with terroristic threats, aggravated assault and witness tampering. Both have pleaded not guilty.' EIGHT YEARS LATER, NJEA'S $5M INVESTMENT BEARS FRUIT — 'Fran Grenier wins GOP post in Salem County,' by New Jersey Globe's David Wildstein: 'Former Salem County Republican Chairman Fran Grenier has made a political comeback, ousting an incumbent in a race for GOP State Committeeman [Saturday] morning. Grenier, whose 2017 bid to unseat Senate President Steve Sweeney triggered what may be the most expensive legislative race in American history, ousted Rob Zuest in a 27-9 landslide … The New Jersey Education Association (NJEA) spent nearly $5 million to help Grenier defeat Sweeney that year. Grenier received just 41% of the vote — the weakest showing by any Republican against Sweeney.' HOW DO YOU EXPECT THEM TO GET JERSEY DEVIL FOOTAGE? — 'Surveillance camera use in Wharton State Forest draws objections from legislators, Open Trails NJ,' by Pine Barrens Tribune's Bill Bonvie: 'The continued presence of surveillance cameras in Wharton State Forest, the largest of 50 such preserves overseen by the New Jersey Division of Parks and Forestry, has become an increasing bone of contention with hikers, campers, kayakers and outdoor enthusiasts who believe a sojourn in the woods should be a purely private experience that's free from the prying eyes of officialdom. Opposition to the presence of such equipment, which is permitted by state law, has lately been registered both by the office of Republican State Senator Latham Tiver and Assemblyman Michael Torrissi, Jr., whose 8th Legislative District encompasses the forest, and Open Trails NJ, a nongovernmental organization that defines its missions as being 'to solve the issues facing our forests, while maintaining access for responsible recreation.' However, the New Jersey Department of Environmental Protection (NJDEP), which includes the Division of Parks and Forestry, responding to a query from the Pine Barrens Tribune, has maintained that there are a number of perfectly legitimate reasons for performing electronic surveillance in Wharton and other state forests and parks where it has jurisdiction.' — 'Despite lawsuit and conflicts, Asbury Park school board brings acting superintendent back' — 'Judge stops stolen Rockaway election' — 'Newark school board appoints Melissa Reed to fill vacant board seat left by Dawn Haynes' — 'Sexual assault charges reinstated against former [Union County] landlord accused of demanding sex from tenants' EVERYTHING ELSE WHAT HAPPENED TO ALL THOSE NEWFOUND WHALE ADVOCATES? — 'Large dead whale washes ashore on Jersey Shore beach,' by NJ Advance Media's Victoria Gladstone: 'A dead whale washed ashore in Long Beach Township early Friday morning, according to the Marine Mammal Stranding Center. The female humpback whale was found ashore at 130th street at Beach Haven Terrace at approximately 7:00 a.m., the center said in a social media post.' — Video: 'Sportfishing in the Hudson? Hoboken resident offers guided trips off city pier'
Yahoo
4 days ago
- Business
- Yahoo
Synopsys Wins Global Tech Award for AI-Driven Chip Design Innovation
Synopsys Inc. (NASDAQ:SNPS) is one of the best software infrastructure stocks to invest in. On June 26, Frost & Sullivan announced that Synopsys had been honored with the 2025 Global Technology Innovation Leadership Award in the analog in-memory computing/AIMC segment. The recognition highlights Synopsys' AI-driven EDA suite and cloud-enabled design environment for accelerating AIMC development for next-gen, energy-efficient AI computing systems. Synopsys was specifically lauded for providing engineers with tools that simplify analog complexity, which reduces design time and boosts productivity for AIMC-based system-on-chip (SoC) architectures. Key recognized solutions include Synopsys PrimeSim, which is an NVIDIA GPU-accelerated SPICE simulator achieving up to 15x speed-up (projected to 30x with NVIDIA Grace Blackwell), and Synopsys Custom Compiler paired with PrimeWave Design Environment for robust analog and mixed-signal design. A close-up of a tech engineer soldering a modern system-on-chip circuit board in a laboratory setting. Additionally, Synopsys Cloud offers instant and browser-based access to the full EDA suite, which increases customer time to results by 40% on average. Other advanced capabilities mentioned are Synopsys for AI-driven layout-aware optimization and a mixed-signal flow providing 5x to 10x faster verification. Synopsys Inc. (NASDAQ:SNPS) provides electronic design automation software products used to design and test integrated circuits. Frost & Sullivan helps investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, megatrends, and companies to action for a continuous flow of growth opportunities. While we acknowledge the potential of SNPS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
Daily News Egypt
4 days ago
- Health
- Daily News Egypt
Opella Egypt leads with purpose at Africa Health ExCon
Opella Egypt participated as a Gold Sponsor at Africa Health ExCon 2025, co-hosted by Africa Centres for Disease Control and Prevention (Africa CDC), Africa's leading healthcare event. The conference welcomed over 60,000 attendees from 150+ countries, held under the patronage of President Abdel Fattah Al-Sisi. 'Towards Sustainable Healthcare' session, held by Opella on June 25, focused on Opella's sustainability, B Corp certification and self-care vision. At the heart of the session was a panel on e-Labelling, a joint ambition by Opella and the Egyptian Drug Authority (EDA) to cut waste and expand access to reliable health information. The takeaway was simple: Digital, eco-friendly tools aren't optional. They're essential for a smarter, more sustainable future. Opella leaders, experts from the World Health Organization (WHO), the EDA, South Africa's regulatory bodies, and the Global Self-Care Federation (GSCF) contributed valuable insights. The message was clear: Long-term impact starts with informed choices, stronger health literacy, and is bolstered by collaboration. Opella achieved a new milestone on its journey to deliver responsible self-care for people and planet. Certified by B Lab, B Corp recognizes companies that meet rigorous standards of social and environmental performance, transparency, and accountability. Marissa Saretsky, Chief Sustainability Officer: 'We are proud to be the first global consumer healthcare company to achieve B Corp Certification, reflecting our commitment to sustainability and accountability. Our strategy towards a healthier planet and society focuses on decarbonizing our operations and value chain, embedding circularity, driving health literacy and supporting surrounding communities through NGO partnerships. We look forward to working with all partners across the sector to make sustainable self-care second nature.' Josephine Fubara, Chief Science Officer: 'e-Labeling puts more power in the hands of consumers. It empowers consumers by making self-care easier, more accessible, and sustainable—while simplifying healthcare for everyone. To realize its full potential, we need early, open collaboration across regulators, industry, healthcare professionals, and patients.' Feirouz Ellouze, General Manager (AMET): 'Opella's presence at the conference highlights our commitment to sustainable healthcare systems. We are a dedicated global self-care leader, ready to meet the health needs of consumers. Our independence allows us to innovate faster and stay focused on our mission: making self-care as simple as it should be – for everyone.' The EDA has been leading a multi-phase e-Labelling shift to modernize medicine information and boost sustainability. Launched in 2022, The initiative, launched in 2022, replaces paper leaflets with QR-linked digital formats, starting with hospital-use products. Now in its second phase, it supports health literacy, cuts paper waste, and sets the stage for full digital integration using global standards. By digitizing the 60 million leaflets provided annually by Opella Egypt alone, we could save 300 tonnes of carbon emissions and protect 5,400 trees. Recognizing the significance of collaboration and active participation among various stakeholders, Opella is committed to supporting initiatives that facilitate this transition and drive sustainable change.
Yahoo
4 days ago
- Business
- Yahoo
China to pivot $50 billion chip fund to fighting U.S. squeeze as trade war escalates — country to back local companies and projects to overcome export controls
When you buy through links on our articles, Future and its syndication partners may earn a commission. Executives of China's Big Fund III are re-adjusting its purpose to address the most notorious gaps in the country's semiconductor industry, namely lithography tools and electronic design automation (EDA) software. Previously, it was designed to support makers of fab tools and the semiconductor ecosystem in general. This recalibration comes as the U.S. intensifies efforts to restrict the access of China-based chip designers and chipmakers to tools and technologies vital for advanced semiconductors. The main purpose of the third installment of the National Integrated Circuit Industry Investment Fund, also called Big Fund III, was to strengthen local development and manufacturing of chipmaking equipment. This push has become urgent in recent years because companies like ASML, Applied Materials, KLA, Lam Research, and Tokyo Electron are now barred by export controls from selling their most advanced tools to Chinese entities without an export license. However, 'fab tools' is a really big product category as fabs use hundreds of different types of tools. Some of the China-made tools, such as etching or deposition machines, are already world-class. Others, such as lithography tools, are decades behind those produced by ASML. Apparently, managers of the Big Fund III want to focus on lithography equipment rather than on devices that are already good enough and which will evolve themselves going forward. As companies like Cadence and Synopsys now also need an export license to supply their advanced EDA tools to customers in China, Chinese chip designers need domestic design software to develop processors for sophisticated nodes. Therefore, the Big Fund III will focus on supporting local makers of EDA tools. Bloomberg reports that the Big Fund III is preparing to make its first significant contributions in accordance with the renewed plan. Among possible recipients are Shanghai Micro Electronics Equipment (SMEE), which produces lithography tools, and Empyrean Technology, which develops electronic design automation software. There is also speculation that Huawei may attempt to build domestic lithography systems to counter reliance on overseas suppliers, though it is unlikely that it will need money from the Big Fund III. Executives overseeing the Big Fund initiative also plan to encourage the merger and concentration of domestic companies through acquisitions or other strategies in a bid to build stronger companies capable of producing more inventions. One of the reasons to streamline spending of the Big Fund III is the fact that it has gathered only part of the planned $47 billion so far, as Chinese authorities (including federal and local) have become more selective in allocating resources after earlier efforts produced limited breakthroughs, according to Bloomberg. However, Officials familiar with the matter expect the funding gap to be temporary, Bloomberg reports. Follow Tom's Hardware on Google News to get our up-to-date news, analysis, and reviews in your feeds. Make sure to click the Follow button.
Yahoo
5 days ago
- Business
- Yahoo
Why Shares in Synopsys Popped Higher Today
Investors warmed to the stock today on news of thawing tensions in the U.S./China trading relationship. It's far from clear whether there will be any direct benefit to Synopsys from the latest agreement. 10 stocks we like better than Synopsys › Shares in electronic design automation (EDA) company Synopsys (NASDAQ: SNPS) were up by more than 5% at 10 a.m. ET today. The positive developments came after officials from China and the U.S. confirmed that a new trade framework had been agreed upon between the two countries. A thawing in the trade war with China matters to Synopsys for two main reasons. First, the company was forced to suspend its third-quarter and full-year guidance after the U.S. Department of Commerce applied new export restrictions that impacted Synopsys' ability to sell solutions to China. Second, China's market regulator has postponed approval of a merger between Synopsys and Ansys. Both issues are highly significant. In the first six months of its fiscal 2025, Synopsys generated almost 11% of its sales from China. Turning to the Ansys deal, it's a critical part of management's growth plans. The aim is to integrate Synopsys EDA solutions with Ansys' engineering simulation solutions, offering customers the software to design semiconductor chips (which are increasingly being embedded in a broad range of industries) alongside the engineering simulation software that observes how these products behave in the real world. The deal would also open up Synopsys' solutions to the broader range of customers that Ansys has in areas such as automotive, aerospace, and industrial. As yet, there's no sign that the restrictions on EDA exports to China are being lifted, and it's unclear whether China is deliberately holding back approval of the merger as a bargaining chip. As such, it's far from clear how the new framework will change matters for Synopsys. Still, a de-escalation is a step in the right direction and may bring a satisfactory resolution to these issues a bit closer for Synopsys. Before you buy stock in Synopsys, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Synopsys wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $704,676!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $950,198!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 175% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 23, 2025 Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Synopsys. The Motley Fool recommends Ansys. The Motley Fool has a disclosure policy. Why Shares in Synopsys Popped Higher Today was originally published by The Motley Fool
