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Southern California Edison hasn’t accepted responsibility for igniting the Eaton fire, but it is now offering each victim who lost their home hundreds of thousands of dollars, according to a draft of its planned compensation program.

The owner of a 1,500-square-foot home destroyed in the wildfire, given as an example in the company’s draft, would receive $900,000 to rebuild. In addition, the utility is offering that owner an additional $200,000 for agreeing to settle their claim directly with Edison.

The family of each destroyed home would also get compensation for pain and suffering — $100,000 for each adult and $50,000 for each child, according to the draft.

Edison announced in late July that it was creating a program to directly compensate Eaton fire victims to help avoid lengthy litigation. The Jan. 7 fire destroyed more than 9,400 homes and other structures in Altadena and killed at least 19 people.

Pedro Pizarro, chief executive of Edison International, the utility’s parent company, said in a press release Wednesday that the compensation program for victims was “designed to help them focus on their recovery.”

The company said that it would hold four community meetings to get public comments on the proposed compensation plan, the first scheduled for Thursday at 7 p.m.

“While the investigation continues, inviting input on draft details is the next step in helping the community rebuild faster and stronger,” Pizarro said.

Edison said it had hired consultants Kenneth Feinberg and Camille Biros, who both worked on the September 11th Victim Compensation Fund, to help create the program.

“The proposed fund is designed as an alternative to conventional litigation in the courtroom,” said Biros. “The terms and conditions are completely transparent and voluntary. No claimants or their lawyers are required to participate until and unless they are satisfied with the compensation offer.”

Private lawyers representing Eaton fire victims have urged caution. They say similar programs created by utilities to compensate victims of other wildfires resulted in lower payouts than families received through lawsuit settlements.

In court, Edison already faces dozens of lawsuits filed by Eaton fire victims. Settling those lawsuits is expected to take years. Attorneys bringing the cases on behalf of victims would get 30% or more of the eventual settlement amounts.

Edison’s draft protocol lists proposed payments for people who were injured, renters who lost their belongings and businesses that lost property or revenues when they were forced to close.

Among the payments to the families of those who died would be $1.5 million for pain and suffering and other noneconomic damages, according to the draft. Each surviving spouse and other dependent would receive an additional $500,000.

In addition, the family who lost a loved one would receive a direct claim premium — a bonus for settling directly with Edison — of $5 million, according to the plan.

Edison said the direct claim premiums — which include $200,000 for families who lost their home, $10,000 to those whose homes were damaged, as well as other amounts for other victims — were only available through its program and would not be offered in litigation.

The utility said victims don’t need an attorney to apply for the compensation. But it is also offering to add 10% to the damage amounts, excluding the direct claim premiums, to cover legal fees of those who have a lawyer.

Victims will get their compensation offers within nine months of applying, Edison said. The company said it was also offering victims a “fast pay” option where they could receive their financial settlement offer within 90 days.

“Speed in processing claims is essential,” Feinberg said.

Edison has said that the government’s investigation into the fire could take as long as 18 months. Pizarro said in April that a leading theory was that a century-old transmission line that had not been in service since the 1970s somehow became reenergized and sparked the fire.

If Edison’s equipment is found to have caused the blaze, the company would be reimbursed for the cost of amounts it pays to victims by a $21 billion state fund. The fund was created by lawmakers in 2019 to shield utilities from bankruptcy if their equipment ignites a catastrophic fire.

The public must register to attend the meetings at ce.com/directclaimsupdates. The final meeting is at 7 p.m. on Monday.

Coleraine were one of three Irish Premiership clubs to miss out on progression to the next stage of the funding process, along with Crusaders and Portadown.

League of Ireland side Derry City also missed out, while Institute and Limavady United were the other clubs from the north west of Northern Ireland not included in the list announced by Lyons on Thursday morning.

“Geographically, for me, the north west has been shafted again,” Higgins said.

“You might say it is sour grapes because of my connection to Coleranie Football Club and Derry City, but I’ll not talk about either – I’ll talk about Institute.

“If there’s one club that needed support it was them. For me, it’s an absolute disgrace.”

Higgins was referring to the loss of Institute’s home ground in Drumahoe, in 2017 after flash flooding left the stadium unusable with Japanese Knotweed.

Institute now play their home matches at Derry City’s Brandywell Stadium and Drumahoe is now being demolished.

Higgins said Stute had been “dealt the worst hand out of everybody” and felt the process was unfair.

“In 2017 they lost their ground through no fault of their own. It’s a brilliant football club run by brilliant people, and they’ve been absolutely trampled on from what I can see.

“They had a disaster eight years ago and they’ve been given no backing at all. That surprises me in one sense, but when you look geographically where they are based, it doesn’t surprise me at all.”

Speaking at the announcement of funding in Belfast on Thursday morning, before Higgins gave his reaction, Lyons said the location of clubs had not come under consideration.

“This hasn’t been done in terms of geography, it has been done in terms of need and other criteria that we set out,” Lyons said.

“Yes, you can look at the two big ones in Belfast but there are many others throughout Northern Ireland.”

California electric customers would pay $9 billion more to shore up the state’s wildfire fund under a last-minute deal reached behind closed doors that was introduced as legislation on Wednesday.

Southern California Edison, and the state’s two other large for-profit electric companies, had been lobbying Gov. Gavin Newsom and legislative leaders, urging them to pass legislation to replenish the state’s $21-billion fund that pays for damages of utility-caused fires.

State officials have warned the fund could be wiped out by damages from the Eaton fire, which killed 19 people and destroyed a large swath of Altadena on Jan. 7.

Customers of the three utilities are already on the hook for contributing $10.5 billion to the original fund through a surcharge of about $3 on their monthly bills.

If approved, the bill amendments made on Wednesday would have customers pay $9 billion more by extending that surcharge by 10 years beyond 2035, when it was set to expire.

Under the deal, the three electric companies’ shareholders would also pay an additional $9 billion into the fund. That means the fund would increase by $18 billion if the legislation, known as SB 254, passes.

Consumer advocates and environmentalists tracking the bill said they were still trying to understand all the provisions of the 229-page bill, which had been debated in hearings in recent months, but was then significantly amended without public input. The new draft of the bill was published at 9:12 a.m. on Wednesday.

“It’s a complete gut and amend,” said Bernadette Del Chiaro, senior vice president at the Environmental Working Group. “It’s an end run around the normal legislative process.”

The complex proposal was introduced just days before the state legislature’s session ends, which means it may receive little public debate.

The session was scheduled to end on Friday, but any amendments must be public for 72 hours, which would push a vote to Saturday morning.

Mark Toney, executive director of The Utility Reform Network, a consumer group, said he was disappointed that ratepayers — who are already paying the country’s second highest electric rates — would have to pay more. But he pointed to some measures that could help reduce the upward pressure on bills.

For example, utilities would be required to finance some expensive transmission projects through a lower-cost method of public financing that legislators said could save ratepayers $3 billion.

Toney said after reviewing the bill’s language his group planned to support it even though it “falls short of addressing the growing affordability crisis.”

Assemblymember Cottie Petrie-Norris (D-Irvine), the bill’s co-author, defended the last minute amendments, saying the legislature needed to move quickly to bolster the fund as the wildfire season begins in California.

She said many of the provisions added to SB 254, including the public financing of transmission lines, had been included in other bills that had been repeatedly been debated in public hearings.

Petrie-Norris, who is chair of the Assembly Utilities and Energy Committee, defended the process and said that she believed electric customers were getting “a good deal” since half the $18 billion addition into the fund would come from utility shareholders.

Also, under the plan, she said, the three utilities must spend billions of dollars more on wildfire prevention costs, which they can’t earn a profit on.

The share prices of Edison International, Pacific Gas & Electric, and Sempra, the parent company of San Diego Gas & Electric all rose Wednesday on the news.

Newsom and lawmakers created the state wildfire fund in 2019 through a bill known as AB 1054 to protect the three utilities from bankruptcy in the event their electric lines sparked a catastrophic wildfire.

Under the law’s protective measures, Edison could pay nothing or just a fraction of the damages for the Eaton fire if its equipment is found to have sparked the fire.

A representative for Newsom did not immediately respond to a request for comment.

The investigation into the fire is ongoing. Edison has said a leading theory is that a century-old transmission line, not used since the 1970s, somehow re-energized and sparked the blaze.

The insured property losses alone could be as much as $15.2 billion, according to an estimate released in July by state officials. That amount does not include uninsured losses or damages beyond those to property, such as wrongful death claims. A study by UCLA estimated losses at $24 billion to $45 billion.

Damages from the Palisades fire, which also ignited on Jan. 7, are not covered by the state wildfire fund. The city of Los Angeles’ Department of Water and Power, a municipal utility, services the area of Pacific Palisades destroyed by that fire.

Only customers of Edison, PG&E and San Diego Gas & Electric pay to support the wildfire fund. And only those three utilities are covered by its protections.

Sept. 5 (UPI) — Colombian President Gustavo Petro’s government has introduced a new tax reform bill in Congress to cover the $6.3 billion shortfall in the 2026 budget. It is the third tax reform of his administration and is intended to secure the $139 billion the state says it needs next year.

In 2022, Petro introduced his first tax reform, which was approved and raised $2.7 billion. In 2024, however, Congress rejected a similar proposal seeking $3 billion, leaving the 2025 budget unfunded and forcing the executive branch to issue it by decree.

The initiative, presented Sept. 1 by Finance Minister Germán Ávila, faces strong opposition in Congress and has become the center of a political battle over fiscal sustainability, public security and the finances of millions of Colombians.

The bill calls for higher taxes on high-income individuals and wealth, along with new levies on fuel, liquor and gambling. It would also tax foreign companies that provide digital services such as Netflix, Amazon Prime and HBO.

Petro contends the bill seeks greater equity and will not affect the middle class or the poor, but will instead target the “mega rich.”

However, opposition leaders have rejected the measure, calling it poorly timed and harmful to the economy.

They argue that higher fuel taxes would raise food prices, directly affecting household budgets. They also criticize the government for imposing new burdens on citizens instead of cutting public spending.

On one of the most criticized points of the reform, Óscar Darío Pérez, a representative of the Democratic Center Party, said raising the income tax surcharge already paid by financial institutions — including banks, insurers and brokerage firms — 50% from 40% — would lead to more expensive loans or less access to the formal credit market.

Bruce Mac Master, president of the National Business Association of Colombia (Andi), has warned of a domino effect from the reform. He said it could raise production and transportation costs, hurting the country’s competitiveness.

“This reform will probably be the one that most affects Colombian families of all the projects presented in recent years,” Mac Master told local media.

Opposition lawmakers in Congress have vowed to block the bill, underscoring the governing challenges facing Petro, who needs support from the economic committees for the reform to advance.

“The government presents this only to follow the same strategy as last year. It puts forward impossible proposals and then blames Congress because this has no chance of passing,” Darío Pérez said.

“Colombia has a long history of tax reforms, with more than 21 attempts since 1990 and at least 14 significant reforms since 2000,” political analyst Mauricio Morris noted.

He added that each administration has pursued changes with different aims, from broadening the tax base to encouraging investment or confronting fiscal crises.

Los Angeles classical music station KUSC-FM (91.5) has laid off employees after Republicans cut federal funding from the Corp. for Public Broadcasting.

James A. Muhammad, president of Classical California, the entity that operates the nonprofit KUSC and its sister station, KDFC in San Francisco, confirmed the workforce reduction in a note sent Thursday to its listeners.

“Despite our best efforts, the fact is that Classical California has experienced a reduction of $1.1 million in support from the Corporation for Public Broadcasting,” Muhammad wrote. “This, along with other impacts, requires us to make difficult decisions across KUSC-FM and KDFC-FM.”

A representative for Classical California did not respond to questions on the number of employees cut. A person briefed on the move who was not authorized to comment publicly said it was eight positions, including two department managers, all based in Los Angeles.

None of the announcers at the two stations were included in the cuts.

Classical California is among the many public media outlets that are scrambling to fill the budget gaps caused by the decision by the Trump White House and the Republican Congress to claw back the $1.1 billion in federal money allocated to the Corp. for Public Broadcasting.

The nonprofit entity administered the funds for public radio and TV stations, mostly affiliates of NPR and PBS.

Conservatives and libertarians have long called for the end of public funds supporting media organizations, especially ones they view as politically left-leaning. Trump has called NPR and PBS government-funded “left-wing propaganda.”

The Corp. for Public Broadcasting was also a vital revenue source for cultural and fine arts programming that often struggles to sustain itself in the commercial media marketplace.

Both KUSC and KDFC, which are owned and operated by the University of Southern California, play classical music 24 hours a day and are not NPR affiliates. They are the most-listened-to classical radio stations in the U.S.

Muhammad’s note to listeners included a plea for contributions to make up for the shortfall caused by the cuts.

“We remain committed to continuing to be your home for classical music,” Muhammad said. “As a listener-supported station, we need your support of KUSC and KDFC, now more than ever.”

WASHINGTON — President Trump has told House Speaker Mike Johnson that he won’t be spending $4.9 billion in congressionally approved foreign aid, effectively cutting the budget without going through the legislative branch.

Trump, who sent a letter to Johnson, R-La., on Thursday, is using what’s known as a pocket rescission — when a president submits a request to Congress to not spend approved funds toward the end of the fiscal year, so that Congress cannot act on the request in the 45-day timeframe and the money goes unspent as a result. It’s the first time in nearly 50 years a president has used one. The fiscal year draws to a close at the end of September.

The letter was posted Friday morning on the X account of the White House Office of Management and Budget. It said the funding would be cut from the State Department and the U.S. Agency for International Development, or USAID, an early target of Trump’s efforts to cut foreign aid.

The last pocket rescission was in 1977 by then-President Jimmy Carter, and the Trump administration argues that it’s a legally permissible tool. But such a move, if standardized by the White House, could effectively bypass Congress on key spending choices and potentially wrest some control over spending from the House and the Senate.

The 1974 Impoundment Control Act gives the president the authority to propose canceling funds approved by Congress. Congress can vote on pulling back the funds or sustaining them, but by proposing the rescission so close to Sept. 30 the White House ensures that the money won’t be spent and the funding lapses.

Trump had previously sought to get congressional backing for rescissions and succeeded in doing so in July when the House and the Senate approved $9 billion worth of cuts. Those rescissions clawed back funding for public broadcasting and foreign aid.

The Trump administration has made deep reductions to foreign aid one of its hallmark policies, despite the relatively meager savings relative to the deficit and possible damage to America’s reputation abroad as foreign populations lose access to food supplies and development programs.

In February, the administration said it would eliminate almost all of USAID’s foreign aid contracts and $60 billion in overall assistance abroad. USAID has since been dismantled, and its few remaining programs have been placed under State Department control.

The Trump administration on Wednesday appealed to the Supreme Court to stop lower court decisions that have preserved foreign aid, including for global health and HIV and AIDS programs, that Trump has tried to freeze.

The New York Post first reported the pocket rescission.

Boak writes for the Associated Press.

A MUM who swindled more than £75,000 in benefits to pay for a boob job and luxury holidays then turned to running an illegal puppy farm to make more cash.

Tammy Hart, 48, made at least £35,000 from her criminal farm after being released from jail for wrongly claiming tax credits to fund her plush lifestyle.

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Hart had also lied that she was single – when she was secretly married to the father of her two children.

A court heard she and her husband Neil Hart, 53, lived a “lavish” lifestyle after wrongly pocketing taxpayers’ money.

After being jailed for two years, she then turned back to crime, becoming an unlicensed dog breeder following her release.

Hart’s illegal puppy farm was busted, and the benefit swindler was ordered to pay more than £40,000 as a result.

The mum-of-two – then going by the name of Tammy Gunter – had already been ordered to pay back £23,358 from her benefits fiddle.

At the earlier hearing seven years ago, prosecutor Nuhu Gobir said Hart was granted tax credits by saying she was a single mother – and also made false claims for student finance and a £2,000 NHS bursary to train as a nurse.

Overall, Hart was handed £76,008.63 in tax credits between 2007 and 2016, the court heard.

The couple splurged the money on holidays to Las Vegas and Florida in 2011 and 2013.

She also took out a loan of £22,000 at one point for a holiday home in the US.

Mr Gobir said: “They were already in a relationship and had been living together as a family since 5 December, 1997.”

He said Hart claimed tax credits for nine years when she was working part-time in a shop and a garage.

Merthyr Tydfil Crown Court heard Hart even forged a letter purporting to be from HMRC.

Mr Gobir said: “Tammy Gunter made a claim that she was a single person working at least 16 hours per week.

“She stated that she had two children and no other income. The defendant dishonestly maintained she was single. She enjoyed a lavish lifestyle.”

Describing her false claim, Mr Gobir said: “She stated that she was separated and was a single parent with two dependent children.

“Neil Hart lied about his address to assist Tammy Gunter with the application. The total loss to the public purse in effect is £87,450.”

The DWP, HMRC and the HS Counter Fraud Service Wales began a joint investigation in January 2015 and the couple were arrested.

Hart admitted being knowingly concerned in fraudulent activity undertaken with a view to obtaining tax credits, one count of forgery and four counts of fraud.

Byron Broadstock, defending Hart, of Blackwood, South Wales, said the couple had a “tumultuous” relationship.

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He said: “Many of the purchases that have been described as extravagant, they are out of the ordinary. They were often gestures in reconciliation.”

He said the plastic surgery “wasn’t simply for purely cosmetic reasons. It was psychological reasons.”

Hart was jailed for two years, while her husband was jailed for six months.

But when she was released she set up her dog breeding business.

Merthyr Tydfil Crown Court heard between September 2021 and May 2022 Hart had advertised 17 litters for sale, with puppies sold at upwards of £1,500 each.

She was found with 29 dogs cooped up in pens which were covered in faeces and urine. The animals were found to have serious health conditions with one puppy suffering from deformities.

Hart was given a suspended prison sentenced for unlicensed dog breeding and has been ordered to pay back the money in a Proceeds of Crime hearing.

She was sentenced to a 16-week custodial sentence suspended for 52 weeks for charges including causing unnecessary suffering to one of the 29 dogs.

She also admitted three counts of a banned practiced under The Consumer Protection from Unfair Trading Regulations 2008 for not declaring selling puppies in course of business, two counts of unlicensed dog breeding and three counts of failing to look after the needs of animals.

Hart was also disqualified from dealing in all animals for a period of seven years under the Animal Welfare Act 2006.

Hart was ordered to pay a Confiscation Order of £35,639.43, to be paid within three months or face a custodial sentence of 12 months at Cardiff Crown Court.

She was also ordered to pay costs of £8,000, to be paid within three months after the confiscation order is paid.

Cllr Philippa Leonard, Caerphilly council’s Cabinet Member for Public Protection, said: “Unlicensed dog breeding is a serious matter, and it is hoped that the outcome of this case will serve as a strong deterrent to those who operate illegally.

“This case serves as a reminder of the importance of adherence with dog-breeding regulations and the necessity to obtain the required licences so that we as a council can monitor and safeguard animal welfare at dog breeding establishments.”

“Whenever possible Caerphilly County Borough Council will use the provisions of the Proceeds of Crime Act to deprive convicted unlicensed dog breeders of their ill-gotten gains.

“If anyone is concerned or suspicious of illegal dog breeding, please contact our Trading Standards or Licensing teams. Your information will help us tackle illegal puppy breeding in Caerphilly and will help stop animals being exploited by unscrupulous breeders.”

Fund said decision against Caterpillar and five Israeli banks due to their contribution ‘to serious violations of rights in situations of war and conflict’.

Norway’s $2-trillion wealth fund, the largest in the world, has divested from US construction equipment giant Caterpillar over the firm’s purported involvement in rights violations perpetrated by the Israeli military in Gaza and the occupied West Bank.

The Norwegian central bank said on Monday that it had decided to exclude Caterpillar from the fund, which it manages, “due to an unacceptable risk that the companies contribute to serious violations of the rights of individuals in situations of war and conflict”.

The fund also announced that it had divested from five Israeli banks, based on the recommendation of its council on ethics.

In a statement, the ethics council said that “bulldozers manufactured by Caterpillar are being used by Israeli authorities in the widespread unlawful destruction of Palestinian property”.

“There is no doubt that Caterpillar’s products are being used to commit extensive and systematic violations of international humanitarian law,” the council said.

It added that Caterpillar had “not implemented any measures to prevent such use” by Israeli authorities.

Prior to its divestment, the fund held a 1.17 percent stake in Caterpillar valued at $2.1bn as of June 30, according to fund data.

The five banks named in the fund’s statement were Hapoalim, Bank Leumi, Mizrahi Tefahot Bank, First International Bank of Israel and FIBI Holdings.

The ethics council said the banks excluded had, “by providing financial services that are a necessary prerequisite for construction activity in Israeli settlements in the West Bank, including East Jerusalem … contributed to the maintenance of Israeli settlements”.

“The settlements have been established in violation of international law, and their continued existence constitutes an ongoing breach of international law,” the council said.

Just last year, the International Court of Justice (ICJ) ruled that Israeli settlements built on Palestinian territory seized in 1967 should end “as rapidly as possible”, as they “have been established and are being maintained in violation of international law”.

Last week, 21 countries signed a joint statement condemning Israel’s plans to build an illegal settlement on a 12 sq km (4.6 sq-mile) tract of land east of Jerusalem known as “East 1” or “E1”.

The massive construction, which envisions 3,400 new homes for Israeli settlers, cuts off most of the occupied West Bank from occupied East Jerusalem.

Hailing the plan, Israel’s far-right finance minister, Bezalel Smotrich, said the extent of the settlement and its cutting into Palestinian territory would bury the possibility of a future Palestinian state “because there is nothing to recognise and no one to recognise”.

The Norwegian fund’s stakes in the five Israeli banks were valued at a combined $661m, according to fund data.

Caterpillar, Hapoalim, First International Bank of Israel and Bank Leumi did not immediately reply to emailed requests for comment by the Reuters news agency.

The fund had announced on August 18 that it would divest from six companies as part of an ongoing ethics review over the war in Gaza and the situation in the occupied West Bank, but declined at the time to name any groups until its stakes in the entities were sold.

The fund is invested in some 8,400 companies worldwide.

At one point, I owned seven rental properties. Today, I’m down to just one (and I’m getting ready to sell it soon).

No more tenants, no more maintenance calls, and no more juggling spreadsheets and 5,000 receipts at tax time… I’m moving all my money into one low-cost index fund strategy that’s easier to manage and way less stressful.

I’m not saying real estate isn’t a good wealth-building tool. It’s worked out well for me.

But I learned (the hard way) that passive income isn’t always passive. Here’s the backstory and my plans moving forward.

What drew me to real estate in the first place

Fresh out of high school, I was eager to build a real estate empire.

My original plan was to buy 10 solid rental properties, each cash flowing around $1,000 per month. That would give me a cool $10,000 per month in income — enough to retire early and live life on my terms.

And honestly, as vague as that plan was, it made a lot of sense at the time.

I worked hard to save up down payments, slowly bought properties, and actually enjoyed the process (mostly).

Not every property I bought was a slam dunk. But I definitely found and experienced many of the benefits I was chasing. I built equity, earned decent cashflow, and took advantage of real estate tax perks.

But eventually, the cracks started to show.

The downside nobody warns you about

If you’ve ever owned rentals, you know: the spreadsheets don’t tell the full ownership story.

They don’t show leaks under the kitchen sink. Or the three-month turnover delay because your contractors ghosted you. Or the multiple tenants who stopped paying right after moving in.

Some properties ran fine for many years. Then in a single 12-month period all of the profits would get wiped out by a perfect storm of emergencies.

True story — I had this one rental that was amazing for three years straight. I always got paid on time, and never heard a peep from the tenant… Then one day out of the blue I got a phone call from a lawyer. Turns out my tenant was a “lady of the night,” using my apartment as a place of business for illegal services.

Property managers helped me manage everything. But they are costly. And at the end of the day, the responsibility always falls on the owner.

With each place I bought, my stress grew. Even when things were going well, there was always a low-grade sense of stress in the background.

My new strategy: Index funds

I made it up to seven rentals, then I decided maybe I was climbing a ladder I didn’t want to be at the top of.

So I’ve been slowly exiting real estate ever since — selling one place at a time. I began with the trouble-maker properties first, keeping the higher performers longer. And now I’m down to just one single property left.

In my early 30s, I stumbled into index investing. It was something I hadn’t taken seriously before. I’d always known what index funds were (wide market exposure, low fees, blah blah blah). But I didn’t realize how freeing they could feel until I actually tried it.

I’ve now moved most of my money into a total stock market index fund. And it’s been one of the best financial decisions I’ve made.

I use Fidelity as my main broker. And I’ve been with them for over a decade now. Between my personal accounts, retirement funds, and custodial accounts for my kid and nephews, I’ve got 11 accounts with Fidelity… and I pay $0 in fees. Read my full gushing review of Fidelity here, all about why I’m a big fan.

Passive income that’s actually passive

I now keep most of my investments in total market index funds like FZROX (Fidelity ZERO Total Market Index Fund) and VTI (Vanguard Total Stock Market ETF).

These funds own thousands of companies across nearly every sector. I don’t pick individual stocks or worry about trying to outperform. Average returns are fine with me.

And the best part is, I don’t have to manage anything. It’s truly passive.

Here’s why I’m a big believer in index funds:

• Built in diversification — I’m invested across all industries, and own pieces of all the big and small publicly traded companies out there.
• Liquidity when I need it — I can sell just a small slice of my index funds at any time, unlike real estate where I’d have to offload an entire property just to access cash.
• Low fees — FZROX literally has a 0.00% expense ratio, so I love that fund. But most index funds have a tiny expense ratio compared to managed funds. Also most brokers have no trade fees when you buy or sell.
• Hands-off — The only thing I have to do is not mess with it.
• Strong historical returns — Large index funds like the S&P 500 have averaged ~10% annually over their long history.
• Mental clarity — I don’t get wrapped up in the headlines or have to think about my investments daily.

Even during the COVID-19 pandemic when my index funds were down 30%-40%, I was actually stressing about my rental properties more than I was about the stock market.

Thankfully, both rebounded after 2020. But that experience reinforced something big:

I’d rather hold an asset that can drop 40% without me having to lift a finger, than one that drops 10% and demands all my attention (or seven that demand attention).

Onwards and upwards

Seven rentals taught me a lot. But once I shifted my mindset away from “owning stuff” and toward growing wealth simply, index funds just made more sense.

I’ve reclaimed my time, simplified my financial life, and stopped managing my investments — and finally started enjoying what they’re doing for me.

It’s not too late to switch strategies, simplify your approach, or start fresh. Index funds are a great place to begin.

Check out our favorite online brokers and trading platforms for index investing (and more) — with low fees, no account minimums, and no stress.

The government of the United Kingdom has warned Irish novelist Sally Rooney against funding Palestine Action after she pledged support to the campaign group banned by the Labour-led government as a “terrorist” group last month.

The prime minister’s office said on Monday that “support for a proscribed organisation is an offence under the Terrorism Act” and warned against backing such organisations.

“There is a difference between showing support for a proscribed organisation, which is an offence under the Terrorism Act, and legitimate protest in support of a cause,” a spokesperson was quoted by PA Media.

In an opinion piece in the Irish Times on Saturday, Rooney, the author of best-selling novels such as Normal People and Conversations with Friends, criticised the government’s move to ban the pro-Palestinian group.

“Activists who disrupt the flow of weapons to a genocidal regime may violate petty criminal statutes, but they uphold a far greater law and a more profound human imperative: to protect a people and culture from annihilation,” she wrote in the article.

Palestine Action was banned after its activists broke into a military base in central England in June and sprayed red paint on two planes in protest against the UK’s support for Israel’s war on Gaza, which has killed more than 62,000 Palestinians, more than half of them women and children.

What’s Palestine Action?

Since its founding in 2020, Palestine Action has disrupted the arms industry in the UK with “direct action”. It says it is “committed to ending global participation in Israel’s genocidal and apartheid regime”.

Israel has been accused of widespread abuses in its 22 months of war on Gaza. The International Court of Justice in January 2024 said Israeli actions in Gaza were plausibly genocide. Since then, multiple rights organisations have called Israel’s war a genocide. In November, the International Criminal Court issued arrest warrants against Israeli Prime Minister Benjamin Netanyahu and former Defence Minister Yoav Gallant for war crimes.

Rooney said she chose the Dublin-based newspaper to publicise her intention rather than a UK one as doing so “would now be illegal” in Britain after the government banned Palestine Action.

“The UK’s state broadcaster … regularly pays me residual fees. I want to be clear that I intend to use these proceeds of my work, as well as my public platform generally, to go on supporting Palestine Action and direct action against genocide in whatever way I can,” she wrote.

Hundreds arrested

More than 700 supporters of Palestine Action have been arrested in the UK, mostly at demonstrations, since the group was outlawed under the Terrorism Act 2000.

“I feel obliged to state once more that like the hundreds of protesters arrested last weekend, I too support Palestine Action. If this makes me a ‘supporter of terror’ under UK law, so be it,” Rooney said.

The spokesperson from the prime minister’s office said Palestine Action was proscribed “based on security advice following serious attacks the group has committed, following an assessment made by the Joint Terrorism Analysis Centre”.

The government ban on Palestine Action came into force on July 5, days after it took responsibility for a break-in at an air force base in southern England that caused an estimated 7 million pounds ($9.3m) of damage to two aircraft.

The group said its activists were responding to Britain’s indirect military support for Israel during the war in Gaza.

Being a member of Palestine Action or supporting the group is now a criminal offence punishable by up to 14 years in prison. It places the campaign group on the same legal footing as ISIL (ISIS) and al-Qaeda.

More than 500 people were arrested at a protest in London’s Parliament Square on August 9 for displaying placards backing the group. The number is thought to be the highest ever recorded number of detentions at a single protest in the capital.

At least 60 of them are due to face prosecution, police said.

Home Secretary Yvette Cooper has defended the proscription of the group, stating: “UK national security and public safety must always be our top priority.”

“The assessments are very clear – this is not a nonviolent organisation,” she said.

In her article, Rooney accused the UK government of “willingly stripping its own citizens of basic rights and freedoms, including the right to express and read dissenting opinions, in order to protect its relationship with Israel”.

Good morning, and welcome to L.A. on the Record — our City Hall newsletter. It’s Noah Goldberg, with assists from Julia Wick, Seema Mehta and David Zahniser, giving you the latest on city and county government.

Days after the Trump administration’s mass immigration raids came to Los Angeles, City Councilmember Ysabel Jurado started looking for money to help the city’s undocumented residents.

In a June 10 motion, she asked City Administrative Officer Matt Szabo to detail options for finding at least $1 million for RepresentLA, which provides legal services for undocumented Angelenos facing deportation.

A week later, an official from Szabo’s office said they were “unable to identify eligible funding sources” for the $1 million, which would come on top of $1 million the city has already allocated to RepresentLA.

This summer in L.A., an immigration crisis is colliding with a budget crisis, leaving some councilmembers frustrated that the city cannot do more, as federal agents whisk thousands of immigrants away to detention centers and potential deportation.

The city has been active in court, joining an ACLU lawsuit that temporarily blocked federal agents from using racial profiling to carry out indiscriminate immigration arrests. Mayor Karen Bass also announced a program to provide immigrants with gift cards, funded by private philanthropy, when many were afraid to go to work.

But coming up with another $1 million for immigrant legal defense, after city officials closed a nearly $1-billion deficit through cuts and slated layoffs, has proved a slog.

“Why is it that we can’t find the money for this?” asked Councilmember Hugo Soto-Martínez during a Civil Rights, Equity, Immigration, Aging and Disability Committee meeting on Aug. 1. “It appears that level of urgency is not being transmitted through this report, because when we’re in other situations, we find the money.”

Jurado piggybacked off her colleague.

“This is an immigration legal crisis,” she said, adding that she felt “disappointment, frustration and, frankly, anger with the outcome here that we can’t find a single dollar to support immigrant communities and this legal defense fund.”

“I find it really hard to believe that the CAO couldn’t find any money for it,” she said in an interview.

RepresentLA, which is a public-private partnership with the county, the city, the California Community Foundation and the Weingart Foundation, has seen a surge in demand for legal services since the immigration raids began in June, said Jorge-Mario Cabrera, a spokesperson for the Coalition for Humane Immigrant Rights, or CHIRLA, which manages RepresentLA.

“The need is higher than the needs being met,” Cabrera said.

The city has contributed funding for RepresentLA since its inception in 2021 — initially $2 million each fiscal year before dropping to $1 million in 2024-2025 and $1 million this year out of a total budget of $6.5 million, with the other $5.5 million coming from L.A. County.

RepresentLA, which has served nearly 10,000 people, provides free legal representation for undocumented immigrants facing removal proceedings, as well as other services such as help with asylum applications. Some attorneys are on staff, while others are outside counsel.

In April, Bass said in her State of the City speech that the city would “protect every Angeleno, no matter where you are from, no matter when you arrived in L.A … because we know how much immigrants contribute to our city in so many ways. We will always stand strong with you.”

But behind the scenes, the city’s financial struggles put even the initial $1 million for RepresentLA in jeopardy, with the mayor proposing to slash it to zero for this fiscal year.

“Getting the initial $1 million back was quite a battle,” said Angelica Salas, CHIRLA’s executive director. “It had been zeroed out. We were able to get just the money enough to continue the program for those who are currently in the program.”

The City Council managed to claw back the $1 million during budget negotiations by slowing down hiring at the LAPD, as well as “ending duplicative spending,” said Naomi Villagomez-Roochnik, a spokesperson for Councilmember Eunisses Hernandez, who sits on the budget committee. (The mayor and Council President Marqueece Harris-Dawson have since said they are looking for money to reverse the hiring slowdown.)

“It’s a crumb when you compare it to the rest of the city budget,” Hernandez said.

RepresentLA has 23 attorneys working on deportation hearings, and Salas said each represents about 35 clients at any given time. An additional $1 million “would allow us to expand our capacity for the new people — the thousands of people who have now been picked up in this new sweep,” she said.

At the committee hearing earlier this month, Councilmember Monica Rodriguez said the City Council should find savings in other areas to help pay for important programs like RepresentLA.

“Next time the city attorney comes asking us for outside counsel money, you could say ‘No’ and redirect those resources. … When the mayor comes for Inside Safe, for additional discretionary money that she is unaccountable for, you could say, ‘No, we’re taking $1 million and putting it for RepresentLA,’” she said. “Let’s effing go.”

The committee called on the city administrative officer’s staff to research options for funding RepresentLA, including grants or reallocating money from elsewhere.

Szabo confirmed to The Times that things will be different at the next committee meeting.

“Our next report will provide options to fund RepresentLA at the level requested,” he said in a text message.

State of play

BALLOT ROYALE: Labor unions and business groups have been locked in a heated battle of ballot measures for the last three months, after the City Council hiked the minimum wage for hotel and airport workers. Each side is trying to get measures on the ballot that would have far-reaching effects, including one that would put the minimum wage increase to a citywide vote. Unite Here Local 11, which represents hotel and restaurant workers, has proposed four ballot measures that, according to critics, would wreak havoc on the city’s economy. Business leaders, in turn, have filed a ballot petition to repeal the city’s $800-million business tax — a move denounced by city officials, who say it would gut funding for police and other essential services.

— SAGE ADVICE: The Jurado staffer who was arrested during an anti-ICE demonstration in June gave a heads-up to her boss that she planned to take part, according to text messages obtained by The Times through a public records request.

“Going to the protest at [City Hall] fyi,” Luz Aguilar wrote to Chief of Staff Lauren Hodgins.

Hodgins responded with words of caution.

“To reiterate what we spoke about a few mins ago, if you choose to take part in any community action, please ensure that you approach the event with peace and care for those around you and stay safe,” Hodgins wrote. “This is not a city-sanctioned activity and you are participating on your own accord so want to ensure your safety along with the safety of those around you.”

Aguilar did not text back. She was later arrested at the demonstration and ultimately charged with resisting arrest after allegedly assaulting a police officer.

— BACK TO COURT: Prosecutors filed two new corruption charges against City Councilmember Curren Price this week. The charges were connected to two votes he cast on funding for the city housing authority and the L.A. County Metropolitan Transportation Authority, both of which were paying Price’s wife, Del Richardson. Price’s attorney called the new charges “nothing more than an attempt to pile on to a weak case.”

Sources told The Times this week that prosecutors tried to get Richardson to testify in front of a grand jury as part of Price’s case. She did not ultimately do so.

— IT’S FUN TO STAY AT THE YMCA: Bass, L.A. County Supervisor Lindsey Horvath and City Councilmember Traci Park were all in the Palisades Thursday morning at a ceremony where Horvath pledged $10 million from her discretionary funds toward rebuilding the Palisades-Malibu YMCA.

— GIFT ECONOMY: Our public records request for all the gifts Bass received in the last year and a half came back, with the list largely composed of ceremonial gift exchanges with her foreign counterparts (chopsticks and a teacup from the mayor of Sejong, South Korea, estimated cost $32; a scarf and a hat from Paris Mayor Anne Hidalgo, estimated cost $45).

There were a few interesting tidbits: Bass received flowers (~$72) from race and gender scholar Kimberlé Crenshaw, who coined the term intersectionality. There were also fancy Dodgers tickets and food (~$590, but marked as “paid down”) from her longtime lawyers at Kaufman Legal Group, along with flights and travel for two speaking engagements.

— NOT RULING IT OUT: When Bass appeared on the podcast “Lovett or Leave It,” host Jon Lovett gave her a “crazy pitch”: What if the city of Los Angeles broke off from the county, forming its own city-county? Bass said it “wasn’t that crazy” and asked (jokingly) whether Lovett would be taking on the messy ballot initiative … before reverting back to her standard line on the need for intergovernmental cooperation. Bass also told Lovett that the city is still looking at ways to carve out an exemption to Measure ULA taxes for Palisades fire survivors selling their lots. And, she said, the city is in the process of hiring its long-promised film liaison “as we speak.”

— HOT SEAT: Gov. Gavin Newsom and Democratic lawmakers launched a special election campaign on Thursday, urging California voters to approve new congressional districts to shrink the state’s Republican delegation, as Texas Republicans fight to redraw their own maps to favor the GOP. If the plan moves forward through the many hoops ahead, another district could be created in southeast Los Angeles County, which would undoubtedly kickstart frantic maneuvering ahead of 2026. (L.A. County Supervisor Hilda Solis’ name is already getting thrown around as a potential candidate, though her office didn’t respond to a half-dozen queries.)

— DON’T ASK, DON’T TELL: City Attorney Hydee Feldstein Soto came out swinging against SB 79, state Sen. Scott Wiener’s latest housing density bill, back in May. Now, both proponents and opponents are clamoring to know whether Bass will take a position on the controversial bill. The Times has been asking too, but so far the mayor and her team have not responded to questions.

QUICK HITS

• Where is Inside Safe? The mayor’s signature homelessness program did not carry out any new operations this week. Her Shine LA initiative, which aims to clean up city streets and sidewalks, will be back Aug. 21.
• On the docket for next week: The Charter Reform Commission will meet at City Hall twice — yes, twice — to discuss planning and infrastructure on Monday and “government structure” on Friday.

Stay in touch

That’s it for this week! Send your questions, comments and gossip to [email protected]. Did a friend forward you this email? Sign up here to get it in your inbox every Saturday morning.

WASHINGTON — President Trump’s border czar Tom Homan visited Capitol Hill just weeks after Inauguration Day, with other administration officials and a singular message: They needed money for the White House’s border security and mass deportation agenda.

By summer, Congress delivered.

The Republican Party’s big bill of tax breaks and spending cuts that Trump signed into law July 4 included what’s arguably the biggest boost of funds yet to the Department of Homeland Security — nearly $170 billion, almost double its annual budget.

The staggering sum is powering the nation’s sweeping new Immigration and Customs Enforcement operations, delivering gripping scenes of people being pulled off city streets and from job sites across the nation — the cornerstone of Trump’s promise for the largest domestic deportation operation in American history. Homeland Security confirmed over the weekend ICE is working to set up detention sites at certain military bases.

“We’re getting them out at record numbers,” Trump said at the White House bill signing ceremony. “We have an obligation to, and we’re doing it.”

Money flows, and so do questions

The crush of new money is setting off alarms in Congress and beyond, raising questions from lawmakers in both major political parties who are expected to provide oversight. The bill text provided general funding categories — almost $30 billion for ICE officers, $45 billion for detention facilities, $10 billion for the office of Homeland Security Secretary Kristi Noem — but few policy details or directives. Homeland Security recently announced $50,000 ICE hiring bonuses.

And it’s not just the big bill’s fresh infusion of funds fueling the president’s agenda of 1 million deportations a year.

In the months since Trump took office, his administration has been shifting as much as $1 billion from the Federal Emergency Management Agency and other accounts to pay for immigration enforcement and deportation operations, lawmakers said.

“Your agency is out of control,” Sen. Chris Murphy, D-Conn., told Noem during a Senate committee hearing in the spring.

The senator warned that Homeland Security would “go broke” by July.

Noem quickly responded that she always lives within her budget.

But Murphy said later in a letter to Homeland Security, objecting to its repurposing funds, that ICE was being directed to spend at an “indefensible and unsustainable rate to build a mass deportation army,” often without approval from Congress.

This past week, the new Republican chairman of the House Homeland Security Committee, Rep. Andrew Garbarino of New York, along with a subcommittee chairman, Rep. Michael Guest of Mississippi, requested a briefing from Noem on the border security components of the One Big Beautiful Bill Act, or OBBBA, which included $46 billion over the next four years for Trump’s long-sought U.S.-Mexico border wall.

“We write today to understand how the Department plans to outlay this funding to deliver a strong and secure homeland for years to come,” the GOP lawmakers said in a letter to the homeland security secretary, noting border apprehensions are at record lows.

“We respectfully request that you provide Committee staff with a briefing on the Department’s plan to disburse OBBBA funding,” they wrote, seeking a response by Aug. 22.

DHS Assistant Secretary Tricia McLaughlin said in a statement to The Associated Press the department is in daily discussions with the committee “to honor all briefing requests including the spend plan for the funds allocated” through the new law.

“ICE is indeed pursuing all available options to expand bedspace capacity,” she said. “This process does include housing detainees at certain military bases, including Fort Bliss.”

Deportations move deep into communities

All together, it’s what observers on and off Capitol Hill see as a fundamental shift in immigration policy — enabling DHS to reach far beyond the U.S. southern border and deep into communities to conduct raids and stand up detention facilities as holding camps for immigrants.

The Defense Department, the Internal Revenue Service and other agencies are being enlisted in what Kathleen Bush-Joseph, an analyst at the Migration Policy Institute, calls a “whole of government” approach.

“They’re orienting this huge shift,” Bush-Joseph said, as deportation enforcement moves “inward.”

The flood of cash comes when Americans’ views on immigration are shifting. Polling showed 79% of U.S. adults say immigration is a “good thing” for the country, having jumped substantially from 64% a year ago, according to Gallup. Only about 2 in 10 U.S. adults say immigration is a bad thing right now.

At the same time, Trump’s approval rating on immigration has slipped. According to a July AP-NORC poll, 43% of U.S. adults said they approved of his handling of immigration, down slightly from 49% in March.

Americans are watching images of often masked officers arresting college students, people at Home Depot lots, parents, workers and a Tunisian musician. Stories abound of people being whisked off to detention facilities, often without allegations of wrongdoing beyond being unauthorized to remain in the U.S.

A new era of detention centers

Detention centers are being stood up, from “Alligator Alcatraz” in Florida to the repurposed federal prison at Leavenworth, Kansas, and the proposed new “Speedway Slammer” in Indiana. Flights are ferrying migrants not just home or to El Salvador’s notorious mega-prison but far away to Africa and beyond.

Homan has insisted in recent interviews those being detained and deported are the “worst of the worst,” and he dismissed as “garbage” the reports showing many of those being removed have not committed violations beyond their irregular immigration status.

“There’s no safe haven here,” Homan said recently outside the White House. “We’re going to do exactly what President Trump has promised the American people he’d do.”

Back in February, Sen. Lindsey Graham of South Carolina, the Republican chairman of the Budget Committee, emerged from their private meeting saying Trump administration officials were “begging for money.”

As Graham got to work, Republican Sen. Rand Paul of Kentucky, the chairman of the Homeland Security and Governmental Affairs Committee and a leading deficit hawk, proposed an alternative border package, at $39 billion, a fraction of the size.

But Paul’s proposal was quickly dismissed. He was among a handful of GOP lawmakers who joined all Democrats in voting against the final tax and spending cuts bill.

Mascaro writes for the Associated Press.

James Arthur McDonald Jr., an investor and financial analyst who frequently appeared on CNBC, was sentenced to five years in prison for defrauding investors in a multimillion-dollar scheme, the United States Attorney’s Office said on Monday.

McDonald, 53, a former San Gabriel Valley resident, was the CEO and chief investment officer of two Los Angeles-based companies: Hercules Investments LLC and Index Strategy Advisors Inc.

In late 2020, McDonald adopted a “risky short position” betting against the U.S. economy following the presidential election, with the idea that the combination of the COVID-19 pandemic and the election would trigger a major sell-off in the stock market, according to the Justice Department. However, when the expected market drop did not happen, Hercules’ clients lost between $30 million and $40 million.

McDonald “solicited millions of dollars’ worth of funds from investors” for the purposes of raising capital for Hercules at the start of 2021 after clients complained to the firm’s employees about their losses. However, in doing so, McDonald “misrepresented how the funds would be used” and failed to disclose the firm’s massive losses.

According to the Justice Department, McDonald obtained $675,000 from “one victim group” and then misappropriated most of the money including spending $174,610 at a Porsche dealership and transferring an additional $109,512 to the landlord of a home he was renting in Arcadia.

McDonald also defrauded clients at Index Strategy Advisors, his other firm, said the Justice Department, using less than half of $3.6 million he raised for trading purposes on personal and other expenditures.

McDonald commingled clients’ funds with his personal bank account and used the money to buy luxury cars, pay his rent, make credit card payments, pay off Hercules operating expenses and “to make Ponzi-like payments” to Index Strategy clients — including paying some of those clients using funds from other clients.

Prosecutors claimed that McDonald caused his victims more than $3 million in losses.

“To his victims, [McDonald] seemed to embody the American Dream,” prosecutors argued in a sentencing memorandum. “But looks can be deceiving, and as [McDonald’s] victims learned, their trust had been betrayed.”

In November 2021, McDonald failed to appear before the Securities and Exchange Commission to testify about the allegations he had defrauded investors, and remained a fugitive until last June when he was found at a residence in Port Orchard, Wash.

At the time of his arrest, law enforcement found a fake Washington, D.C., driver’s license with his photograph and the name “Brian Thomas.”

In April 2024, a U.S. District judge found McDonald and Hercules liable for violating federal securities law and ordered them to pay millions in disgorgement and civil penalties.

McDonald pleaded guilty to one count of securities fraud in February.

He will be ordered to pay restitution in this case before a United States district judge at a later date.

Gov. Gavin Newsom is preparing draft legislation that would add an additional $18 billion to a state fund for wildfire victims that officials have warned could be exhausted by January’s deadly Eaton wildfire.

Under Newsom’s plan, customers of the state’s three biggest for-profit utilities would pay another $9 billion to supplement a state fund created in 2019 that holds $21 billion.

The other $9 billion would come from shareholders of Southern California Edison, Pacific Gas & Electric and San Diego Gas & Electric, according to a draft of the proposal.

“We continue to work with the Legislature on policy that will stabilize California’s Wildfire Fund to support the recovery of wildfire survivors and to protect California utility consumers — even as wildfires become bigger and more destructive due to climate change,” Newsom’s office said in a statement Thursday.

Customers of the three utilities are already on the hook for contributing half of the original $21 billion fund through a surcharge of about $3 on their monthly bill. The proposal would have customers pay $9 billion more by extending that surcharge by 10 years beyond 2035, when it was set to expire.

“We’re very disappointed to be at a point where there is even talk of more ratepayer money going to the wildfire fund,” said Mark Toney, executive director of the the Utility Reform Network, a consumer advocacy group.

Utility executives also criticized the plan, which was reported earlier by Bloomberg, for proposing that their shareholders pay additional amounts into the fund.

Pedro Pizarro, chief executive of Edison International, told Wall Street analysts on a conference call that the company has told Newsom and lawmakers that any legislation to shore up the fund “would not have a shareholder contribution.”

“We will need to see the balance of an ultimate package,” Pizarro said.

Newsom’s plan has been circulating with legislative leaders and others and would require approval of the state Senate and Assembly. Under the draft proposal, the $18 billion would go into a new “Continuation Wildfire Fund.” The new fund would not be created until the administrator of the state’s original wildfire fund determines additional funds are needed.

Newsom and lawmakers created the $21 billion fund in 2019 to protect utilities from bankruptcy in the event their equipment sparks a devastating fire.

Toney said said state officials told him then that there was a 99% chance the fund would last 20 years. Now it could be wiped out by a single fire.

He said he believes there needs to be limits on the liabilities that the fund will pay for. “We can’t go back every three or four years and put more money in,” he said.

Since the fund was created, electric customers have also paid $27 billion for tree trimming and other work aimed to prevent wildfires, which is fast driving up electric bills, Toney said.

Despite that spending, fires sparked by Edison’s equipment leaped from 90 in 2023 to 178 in 2024.

The investigation into the Eaton fire, which killed 19 people and destroyed thousands of homes and businesses in Altadena, is continuing. Video captured the fire igniting on Jan. 7 under an Edison transmission tower.

Pizarro has said a leading theory is that a dormant Edison transmission line, not used since 1971, somehow became electrified and sparked the blaze.

The insured property losses alone could be as much as $15.2 billion, according to an estimate released by state officials last week. That amount does not include uninsured losses or damages beyond those to property, such as wrongful death claims. A study by UCLA estimated losses at $24 billion to $45 billion.

Southern California Edison’s plans to compensate Eaton fire victims for damage were met with skepticism Thursday from lawyers representing Altadena residents, but drew tentative support from others who say the initiative could help shore up the state’s $21-billion wildfire fund.

The utility announced its Wildfire Recovery Compensation Program this week, saying it would be used to quickly pay victims, including those who were insured, while avoiding lengthy litigation.

The announcement comes as state officials consider ways to shore up the state’s fund to compensate wildfire victims, amid fears that it could be fully exhausted by Eaton fire claims. Fees that attorneys receive as part of victim settlements could further strain the fund.

State Sen. Henry Stern (D-Calabasas) said Edison’s new program may have some merit as potentially “a more efficient way” than lawsuits to make sure victims are fairly compensated.

He pointed out that lawyers were “coming across the country to represent” Eaton fire victims. “Are they really getting their money’s worth when they pay 30% to these lawyers?” Stern asked.

Mark Toney, executive director of the Utility Reform Network, said Edison’s program had the potential to reduce costs that otherwise must be covered by the wildfire fund, which was established in part by a surcharge on the bills paid by customers of Edison, Pacific Gas & Electric and San Diego Gas & Electric.

“If Edison is determined to be the cause of the fire, anything they can settle early reduces the costs that otherwise would be paid later,” Toney said.

The utility has released few details of how the program would work, leaving victims who are already coping with uncertainty with more questions. And lawyers who had been seeking to represent victims in lawsuits against Edison were quick to urge caution.

“Without admitting fault or providing transparency, Edison is asking victims to potentially waive their rights,” said Kiley Grombacher, one of dozens of lawyers involved in litigation against Edison for the Jan. 7 wildfire that killed 19 and destroyed 9,000 homes in Altadena.

According to Edison, the program would be open to those who lost homes or businesses as well as renters who lost property. It would also cover those who were harmed by smoke, suffered physical injuries or had family members who died.

“People can file a claim even if they are involved in active litigation,” said Kathleen Dunleavy, an Edison spokeswoman.

Dunleavy said the company would be releasing more information soon, including on eligibility requirements.

At a Thursday meeting in Sacramento of the Catastrophe Response Council, which oversees the wildfire fund, officials said they were creating criteria that Edison must follow in designing the program, including having measures to prevent fraud and clear eligibility standards.

Sheri Scott, an actuary from Milliman, told the council that the firm estimated that losses from the Eaton fire ranged from $13.7 billion to $22.8 billion.

“We heard from our guest today that we might run out of money very quickly,” said Paul Rosenstiel, a member of the council appointed by Gov. Gavin Newsom.

He urged state lawmakers to consider changing the law that created the fund so that less money was at risk of flowing to third parties who aren’t fire victims.

PG&E created a program to directly pay victims of the 2021 Dixie fire, which burned more than 960,000 acres in Northern California. It created a similar program to compensate victims of the 2022 Mosquito fire, which burned nearly 77,000 acres in Placer and El Dorado counties.

PG&E said it offered Mosquito fire victims who lost their homes $500 per square foot and $9,200 per acre for those whose lots did not exceed 5 acres. To aid in rebuilding efforts, victims who decided to reconstruct their homes were eligible for an additional $50,000.

Lynsey Paulo, a PG&E spokeswoman, said in an email that the company paid nearly $50 million to victims of the Dixie fire through its program. That money went to 135 households, she said.

“PG&E’s program was designed to provide claimants with resources to rebuild as quickly as possible and help communities recover,” she said.

Richard Bridgford, a lawyer who represented Dixie fire victims, said that PG&E’s offer was lower than victims won through lawsuits, and that only a fraction of those eligible for the PG&E program decided to participate, he said.

”Victims have uniformly done better when represented by counsel,” said Bridgford, who now represents victims of the Eaton fire.

Edison’s announcement of its program came as fire agencies continue to investigate the cause of the Eaton fire. Edison said in April that a leading theory is that a dormant transmission line, last used in 1971, somehow was reenergized and sparked the blaze. The company says the new compensation program “is not an admission of legal liability.”

“Even though the details of how the Eaton Fire started are still being evaluated, SCE will offer an expedited process to pay and resolve claims fairly and promptly,” Pedro Pizarro, chief executive of Edison International, the utility’s parent company, said in a news release. “This allows the community to focus more on recovery instead of lengthy, expensive litigation.”

The utility said it had hired consultants Kenneth R. Feinberg and Camille S. Biros, who had worked on the September 11th Victim Compensation Fund, to help design the program.

If Edison is found responsible for the fire, the $21-billion state wildfire fund would reimburse the company for all or most of the amounts paid to victims through the new program or through lawsuits and insurance claims.

Half of the fund’s $21 billion came from charges to electric bills of customers of Edison, PG&E and SDG&E. The other half was contributed by shareholders of those three companies, which are the only utilities that can seek reimbursements from the fund.

The move gives US Treasury a chance to recommend replacement, at time that US President Donald Trump is reshaping global economy.

Gita Gopinath, the No. 2 official at the International Monetary Fund (IMF), will leave her post at the end of August to return to Harvard University, the IMF has said.

IMF Managing Director Kristalina Georgieva will name a successor to Gopinath in “due course”, the financial institution said in a statement on Monday.

Gopinath joined the fund in 2019 as chief economist, the first woman to serve in that role, and was promoted to first deputy managing director in January 2022.

No comment was immediately available from the United States Department of the Treasury, which manages the dominant US shareholding in the IMF. While European countries have traditionally chosen the IMF’s managing director, the US Treasury has traditionally recommended candidates for the first deputy managing director role.

Gopinath is an Indian-born US citizen.

The timing of the move caught some IMF insiders by surprise, and appears to have been initiated by Gopinath.

Gopinath, who had left Harvard to join the IMF, will return to the university as a professor of economics.

Her departure will offer the US Treasury a chance to recommend a successor at a time when President Donald Trump is seeking to restructure the global economy and end longstanding US trade deficits with high tariffs on imports from nearly all countries.

She will return to a university that has been in the Trump administration’s crosshairs after the school rejected demands to change its governance, hiring and admissions practices.

Georgieva said Gopinath joined the IMF as a highly respected academic and proved to be an “exceptional intellectual leader” during her time, which included the pandemic and global shocks caused by Russia’s invasion of Ukraine.

“Gita steered the Fund’s analytical and policy work with clarity, striving for the highest standards of rigorous analysis at a complex time of high uncertainty and rapidly changing global economic environment,” Georgieva said.

Gopinath has also overseen the fund’s multilateral surveillance and analytical work on fiscal and monetary policy, debt and international trade.

Gopinath said she was grateful for a “once in a lifetime opportunity” to work at the IMF, thanking both Georgieva and the previous IMF chief, Christine Lagarde, who appointed her as chief economist.

“I now return to my roots in academia, where I look forward to continuing to push the research frontier in international finance and macroeconomics to address global challenges, and to training the next generation of economists,” she said in a statement.

Haaretz report says Israel plans to fly 16 social media influencers who support Trump’s MAGA and America First campaigns.

The Israeli foreign ministry will fund a tour of the country by right-wing social media influencers from the United States, says a report.

Israeli newspaper Haaretz on Sunday reported that the planned tour will feature 16 influencers, all under the age of 30, who support US President Donald Trump’s MAGA (Make America Great Again) and America First campaigns.

The influencers each have hundreds of thousands to millions of followers. They will be flown in to counter what the Israeli government sees as declining support for Israel among young Americans, the report said, without citing any date.

“With the rise of the America First movement and MAGA in American politics, it’s essential for Israel that the movement adopt a pro-Israel position,” Yacov Livne, senior deputy director of the Israeli Foreign Ministry’s Department of Public Diplomacy, was quoted as saying in the report.

The Israeli foreign ministry aims to bring 550 influencer delegations to Israel by the end of the year through such tours, it said.

“[While] older Republicans and American conservatives still hold pro-Israel views, positive perspectives towards Israel are falling across all younger age groups,” it said, according to the report.

The influencers will be pushed to share messaging that aligns with Israeli policy regarding the Palestinians. “We are working with influencers, sometimes with delegations of influencers,” an unnamed source from the ministry told Haaretz.

“Their networks have huge followings and their messages are more effective than if they came directly from the ministry.”

The tour will be carried out through an organisation called Israel365, which is in a “unique position to convey a pro-Israel stance that aligns entirely with the MAGA and America First agenda”, Haaretz quoted the foreign ministry as saying.

Israel365 promotes support for Israel, specifically among Christians, based on biblical principles. Its website says the group “stands unapologetically for the Jewish people’s God-given right to the entire Land of Israel”.

The organisation also rejects a two‑state solution as a “delusion” and describes its mission as defending “Western civilization against threats from both Progressive Left extremism and global jihad”.

The ministry said it has struck a 290,000-shekel ($86,000) deal to carry out the tour, Haaretz reported.

Since the war on Gaza began in October 2023, Israel365 “deepened ties with MAGA and America First movements, appearing at their major events and helping recruit prominent conservative figures to visit Israel”, the report added.

WASHINGTON — The Trump administration will release an estimated $1.3 billion in previously withheld grant money for schools nationwide, but has warned states that it will rescind funding not spent for “allowable activities.”

About $5 billion to $6 billion remains in limbo. In typical years, this funding would have begun reaching states and school districts starting on July 1. California joined about two dozen states this week in suing for the release of the funds, calling the Trump administration action “unconstitutional, unlawful and arbitrary.”

In filing their lawsuit, California officials estimated that they were due close to a billion dollars. The California Department of Education said it received word Friday that the partial release represented about $158 million of that total.

The partial release came after 10 Republican senators on Wednesday sent a letter imploring the Trump administration to allow frozen education money to be sent to states.

The senators said the withheld money supported programs that had longstanding bipartisan support and were critical to local communities. The money had been appropriated by Congress in a bill that was signed by President Trump.

“We share your concern about taxpayer money going to fund radical left-wing programs,” the senators wrote to the Office of Management and Budget. “However, we do not believe that is happening with these funds.”

The Trump administration has argued otherwise, alleging that funding has been used to undermine policy goals that include having all classes conducted in English. The administration also accused agencies of using funds to advocate for immigrants who lack legal status in the country.

The notification to states about the release includes a long list of laws that states are warned not to violate including the U.S. Constitution, the Civil Rights Act of 1964 and Title IX of the Education Amendments of 1972, which bans discrimination based on sex.

“To the extent that a grantee uses grant funds for such unallowable activities,” which the notice does not define specifically, “the [Education] Department intends to take appropriate enforcement action … which may include the recovery of funds.”

In separate actions, the Trump administration already has threatened California with pulling all federal funding for violations of Trump administration policy. This threat was made recently in connection with the state allowing trans athletes to compete in girls’ and women’s sports and government officials designating their jurisdictions as sanctuaries for immigrants.

What the money pays for

The withheld money paid for after-school and summer programs, adult literacy, English language instruction, teacher training and migrant education supports. The Office of Management and Budget said it held back the funds as part of a review to align spending with White House priorities.

The funds released Friday were partly intended to support many summer school programs, some of which shut down across the country due to the hold-back. This funding also supports after-school programming during the regular school year.

Without the money, school districts and nonprofits such as the YMCA and Boys and Girls Clubs of America had said they would have to close or scale back educational offerings this fall.

The money released Friday also pays for child care so low-income parents can work. In these programs, children also receive reading and math help, along with enrichment in science and the arts.

Despite the money’s release Friday, schools and nonprofits have already been disrupted by two weeks of uncertainty. Some programs have made plans to close, and others have fallen behind on hiring and contracting for the fall.

“While we are thrilled the funds will be made available,” said Jodi Grant, executive director of the Afterschool Alliance, “the administration’s inexplicable delay in disbursing them caused massive chaos and harm.” Many after-school programs had canceled plans to open in the fall, she said.

David Schuler, executive director of AASA, an association of school superintendents, praised the release of after-school money but said that the remaining education funding should not be withheld.

“Districts should not be in this impossible position where the Administration is denying funds that had already been appropriated to our public schools, by Congress,” Schuler said in a statement. “The remaining funds must be released immediately — America’s children are counting on it.”

Republican Sen. Shelley Moore Capito (R-W.Va.), who chairs the Senate Appropriations subcommittee that oversees education spending, was among the senators who signed the letter, which called for the full release of funds, including for adult education and teaching English as a second language.

“The decision to withhold this funding is contrary to President Trump’s goal of returning K-12 education to the states,” the senators wrote. “This funding goes directly to states and local school districts, where local leaders decide how this funding is spent.”

Sen. Patty Murray (D-Wash.) called on the White House to release the rest of the money.

“At this very moment, schools nationwide are crunching the numbers to figure out how many teachers they will need to lay off as Trump continues to hold up billions in funding,” Murray said Friday in a statement. “Every penny of this funding must flow immediately.”

Ma writes for the Associated Press.

A cash fund for families financially reeling from ongoing federal immigration raids will be up and running within a month, according to Los Angeles County officials.

The Board of Supervisors voted 4-0 Tuesday to create the fund, fueled by philanthropy, focused on workers and their families in small L.A. County cities and unincorporated areas.

Details on the fund were sparse. It was not clear who will be eligible or how much a family could expect to collect.

For almost two months, the Trump administration’s sweeping raids have petrified residents across the region, with immigration agents snatching people from swap meets, car washes, Home Depot stores and street corners. Church pews, hospitals and whole neighborhoods have been emptier than usual. Many say they’re scared to go to work, as they weigh the necessity of collecting a paycheck against the risk that they might be arrested and deported.

“We are sending a clear message: Los Angeles County stands with our immigrant communities, and we will continue to fight to ensure that every resident, regardless of immigration status, has the dignity and support they need to survive and thrive,” said Supervisor Hilda Solis, who spearheaded the fund, in a statement.

The county also wants to expand a fund for small businesses who are affected financially by the raids, according to the motion approved by the supervisors.

Supervisor Kathryn Barger was absent from the vote, which comes on the heels of L.A. Mayor Karen Bass’ announcement last week that the city will provide cash to people affected by the sweeping immigration raids. Bass said the aid, also funded by philanthropy, will be distributed using cash cards with a “couple hundred” dollars on them.

The federal agents conducting the immigration raids are often in plainclothes, with their faces shielded by sunglasses and masks. Supervisor Janice Hahn said Tuesday that she plans to introduce an ordinance barring law enforcement from concealing their identities in unincorporated areas, where the county government is the local authority.

“Law enforcement officers should never wear personal disguises or conceal their identities while interacting with the public in the course of their duties,” said Hahn.

The county is also considering a program to safeguard belongings left behind in unincorporated areas by people detained by ICE agents, as well as starting a hotline for deported workers to retrieve unpaid wages.

Rampant immigration sweeps have left a trail of belongings — cars, lawn mowers, ice cream carts — across the region with no clear way to reunite the items with their owners.

“Most people don’t know how to get their last paycheck when they are deported, how to reconcile with their equipment or anything that relates to the life that they held here,” said Rosa Soto, head of the LA General Medical Center Foundation, at the meeting. “It is imperative we have the support they need.

California officials on Monday announced that the state is suing the Trump administration for holding back an estimated $939 million in education funds from the state — and about $6.8 billion nationwide — that school districts had expected to begin receiving on July 1, calling the action “unconstitutional, unlawful and arbitrary.”

The funding, already appropriated by Congress, supports programs to help students who are learning English and also those from migrant families. The money also boosts teacher training, after-school programs and classroom technology. The impact on Los Angeles Unified — the nation’s second-largest school system — was estimated by Supt. Alberto Carvalho to be at least $110.2 million.

California and three other Democratic-led states are taking the lead on the lawsuit on behalf of 23 states with Democratic attorneys general and the Democratic governors of Kentucky and Pennsylvania, which have Republican attorneys general. The suit was to be filed Monday in federal court in Rhode Island.

On Monday morning, Trump administration officials had not yet had an opportunity to review the lawsuit, but they have said no final decision has been made on the release of the withheld funds. The administration has cited alleged instances in which some of this money has been used in ways contrary to its policies. One example is the “separate and segregated academic instruction to new English learners,” according to a Trump administration official speaking not for attribution.

The Trump administration has tried to shut down — and often penalize — efforts to promote racial diversity, which it views as a form of discrimination and also has focused on controversies over LGBTQ+ issues. It also opposes what it views as advocacy and support for immigrants who lack legal status to live in the United States.

Although the held-back funds make up less than 1% of California’s education budget, they have an outsize cumulative effect. And they involve dollars that already have been accounted for in terms of staff hired and programs planned.

“With no rhyme or reason, the Trump Administration abruptly froze billions of dollars in education funding just weeks before the start of the school year,” California Atty. Gen. Rob Bonta said in a statement. “In doing so, it has threatened the existence of programs that provide critical after school and summer learning opportunities, that teach English to students, and that provide educational technology to our classrooms.”

The complaint argues that the Constitution does not give the executive branch power “to unilaterally refuse to spend appropriations that were passed by both houses of Congress and were signed into law.”

The lawsuit is being led by the attorneys general of Massachusetts, Colorado and Rhode Island. Colorado Gov. Jared Polis spoke of the issue at a webinar last week featuring activists and public officials.

“With many teachers not knowing whether to report to duty — that are funded by these streams — this is a very last minute, opaque decision to withhold billions of dollars from our schools,” said Polis, whose state was expecting to receive an estimated $80 million on July 1. “Every single school district in the country is impacted to some degree by this freeze, risking services like counseling, supporting students, teacher training — all investments that help students succeed.”

“These are funds that schools have already budgeted for — because the funding was already committed — and schools now have to make impossible decisions here just in the 11th hour, days or weeks before people were scheduled to report to work.”

Funding freeze blamed for ‘chaos’

The held-back funds are tied to programs that, in some cases, have received these dollars for decades. Each year the U.S. Department of Education makes around 25% of the funds available to states on or about July 1. This permits school districts to begin or continue their efforts in these areas.

“The plaintiff states have complied with the funding conditions set forth under the law and have state plans that the Department of Education has already approved,” according to a statement from Bonta’s office.

This year, instead of distributing the funding, the U.S. Department of Education notified school districts and state education offices, on June 30, that it would not be “obligating funds” for the affected programs.

In its 84-word communication to states, the administration listed the programs by their federal designation, including Title III-A, which supports students who are learning English. Also listed was Title I-C, which aims to help the children of migrant workers overcome learning challenges. Both programs had all their funds withheld.

Other similarly curtailed programs provide training for teachers and administrators; enhance the use of technology for academic achievement and digital literacy, and fund before- and after-school and summer programs.

“This funding freeze has immediately thrown into chaos plans for the upcoming academic year,” according to Bonta’s office. “Local education agencies have approved budgets, developed staffing plans and signed contracts to provide vital educational services under these grants.”

Los Angeles Unified plans to carry affected programs using district reserves, but this money was already designated for other uses over the long term. Ultimately, hundreds of positions are funded by the estimated $110.2 million at stake.

The greatest impact would be seen once schools begin to open across the nation in August, but there have been immediate effects.

The Thomasville Community Resource Center in Georgia ended its summer program three weeks early, affecting more than 300 children in two counties. In Missouri, the Laclede Literacy Council laid off 16 of 17 staff members after adult education funds were held back.

Texas is estimated to be short approximately $660 million in expected education funding, according to the Texas Standard news site. The freeze particularly affects students learning English, nearly one in four Texas students. During the 2024-25 school year, Texas received more than $132 million from the federal government to support these students.

A rising mountain of litigation

The Trump administration action — and the litigation that has followed — represent the latest of many conflicts over funding and policy with California.

Last week, it was the Trump administration that initiated litigation, suing California for allowing transgender athletes to compete on school sports teams that match their gender identity. The administration alleges that state officials are violating federal civil rights law by discriminating against women, a legal action that threatens billions of dollars in federal education funds.

In line with California law, state education policy specifically allows athletic participation based on a student’s gender identity.

In that litigation, the amount of funding that the Trump administration asserts to be at stake is staggering, with federal officials citing a figure of $44.3 billion in funding that California was allotted for the current year, including $3.8 billion not yet sent out — money that is immediately endangered.

“Potentially, all federal dollars to California public entities are at risk,” said a senior official with the U.S. Department of Education, who spoke on a not-for-attribution basis.

Separately, the department has canceled or modified more than $1 billion in contracts and grants “based on the inclusion of illegal DEI or being out of alignment with Administration priorities,” said spokesperson Madi Biedermann, alluding to programs categorized as including “diversity, equity and inclusion” components.

Altogether, California is involved in more than two dozens lawsuits opposing Trump administration actions.

“Taken together with his other attacks on education, President Trump seems comfortable risking the academic success of a generation to further his own misguided political agenda,” Bonta said. “But as with so many of his other actions, this funding freeze is blatantly illegal, and we’re confident the court will agree.”

The lawsuits against the Trump administration have resulted in a multitude of restraining orders, but have not halted all major Trump actions related to education and other areas.

Trump has insisted that he wants to return education to the states and cut wasteful and ineffective spending. He also has tried to exert greater federal control in education over so-called culture-war issues.