The San Fernando Valley is back in the spotlight, thanks in part to Bravo’s reality franchise “The Valley,” where viewers may recognize a slew of Ventura Boulevard staples (we see you, Rocco’s Tavern).
Much of the show is filmed in and around Studio City, a neighborhood just west of the Cahuenga Pass, about 10 miles from downtown L.A. and within the city of Los Angeles.
That last fact is what usually throws people off guard.
“Isn’t Studio City a separate city from L.A.?” they ask.
Get to know Los Angeles through the places that bring it to life. From restaurants to shops to outdoor spaces, here’s what to discover now.
This is when I must reply no and launch into an explanation on the expansiveness of the 818, the identity crisis it never asked for and how its lore has endured for decades on the silver screen, from “Fast Times at Ridgemont High” to “The Karate Kid” and “Licorice Pizza,” to name a few.
See, long before Kendall Jenner bottled our area code with her tequila brand or “The Valley’s” Golnesa “GG” Gharachedaghi created her Valley Girl jewelry line (a response to a castmate’s constant gripe that the area had no vibe), Studio City was already a vibrant L.A. hub. It claimed a roster of power players — “The Brady Bunch” soundstage, Laurel Canyon News and the iconic Studio City Hand Car Wash — all of which still transcend ratings or storyline.
The neighborhood was originally formed around film producer Mack Sennett’s studio, which later became Republic Studios and then CBS Studio Center. With the studio as the focal point, the U.S. Postal Service designated its branch in that area as the Studio City Post Office, formalizing the name Studio City. Not exactly poetic, but it stuck. By the 1940s, Studio City developed into a “just over the hill” refuge for Hollywood’s working families, with new restaurants and bars abuzz.
My first memories of Studio City were hanging out with a childhood friend whose parents worked at CBS, and back then, it felt like the ultimate suburban dream. Fast forward to the mid-aughts and I got to live it myself, renting an apartment a few blocks from Tujunga Village, the neighborhood’s own “small-town U.S.A.” I spent countless weekends perusing food stands and trendy coffeehouses, the flaky bread and baked goods reviving me after hours of line dancing at Oil Can Harry’s or a booze-soaked late night at Page 71.
As one of the Valley’s most social enclaves, where nature is within reach, strip mall sushi is world-class and shaded residential streets feel worlds away from the Sunset Strip, Studio City still feels like the perfect remedy. Sure, finding parking after 6 p.m. can feel like something out of “The Hunger Games,” but on any given weekend you’ll still find me channeling my inner Katniss, circling blocks and deciphering cryptic signage all to revisit one of the L.A. neighborhoods that raised me.
Studio City must be the place. Then again, it always was.
What’s included in this guide
Anyone who’s lived in a major metropolis can tell you that neighborhoods are a tricky thing. They’re eternally malleable and evoke sociological questions around how we place our homes, our neighbors and our communities within a wider tapestry. In the name of neighborly generosity, we may include gems that linger outside of technical parameters. Instead of leaning into stark definitions, we hope to celebrate all of the places that make us love where we live.
Our journalists independently visited every spot recommended in this guide. We do not accept free meals or experiences. What L.A. neighborhood should we check out next? Send ideas to guides@latimes.com.
New Zealand says it, too, will support the UK government if it decides to remove the disgraced prince from succession to the throne.
Australian Prime Minister Anthony Albanese has announced that his government is writing to Commonwealth countries about its support to have the United Kingdom’s former prince, Andrew Mountbatten-Windsor, removed from the line of royal succession over his links to convicted sex offender Jeffrey Epstein.
Albanese’s announcement on Tuesday came as neighbouring Commonwealth member New Zealand declared that it would also support the UK government if it proposes the removal of Mountbatten-Windsor from the line of succession to the throne.
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“Australia likes being first, and we have made sure that everyone knows what our position is, and we’ll be writing today to the other realm countries as well, informing them of our position,” Prime Minister Albanese told Australia’s ABC public broadcaster.
Australians were “disgusted” by revelations about late US sex offender Epstein’s relations with public figures, and they want the government to be clear about its position, Albanese told the ABC.
“King Charles has said that the law must now take its full course. There must be a full, fair and proper investigation. And that needs to occur,” he added.
The former 66-year-old prince was arrested last week, detained and questioned as part of an investigation into alleged misconduct in public office following revelations about his dealings with Epstein.
Albanese also said the UK would have to initiate any proposed change to the line of royal succession, and it would need the agreement of the 14 other Commonwealth nations that have King Charles III as head of state.
Albanese wrote to UK Prime Minister Keir Starmer and informed him that, “in light of recent events”, the Australian government would “agree to any proposal to remove [Mountbatten-Windsor] from the line of royal succession”, according to Australian media.
“I agree with His Majesty that the law must now take its full course and there must be a full, fair and proper investigation,” Albanese wrote.
“These are grave allegations and Australians take them seriously,” he added.
New Zealand Prime Minister Christopher Luxon said that if the UK government proposes to remove Mountbatten-Windsor from the order of succession, New Zealand would support it, the UK’s Press Association reports.
“The bottom line is, no one is above the law, and once that investigation is closed, should the UK government decide to remove him from the line of succession, that is something we would support,” Luxon told reporters.
Officials in the UK have told media outlets that any moves to change the line of succession would come after the police conclude their investigation into the former prince, who is eighth in line to the throne.
Starmer’s official spokesman said on Monday that the government was not ruling out any steps in relation to the disgraced prince, but it would not be appropriate to comment further during the police probe.
Mountbatten-Windsor, who was stripped of his royal title last year as news of links to Epstein emerged, has denied any wrongdoing over his relationship with Epstein, who was ruled to have taken his own life in prison in 2019. He has not directly responded to the latest allegations regarding misconduct in public office.
Burnt out buses and trucks lined the highway to Guadalajara, Mexico’s Estadio Akron in what is reportedly a cartel reprisal to an earlier federal law enforcement operation. Burning vehicles causing roadblocks have been reported across the state of Jalisco, including in the major tourist city of Puerto Vallarta.
The last time Ireland visited Allianz Stadium, in 2024, they had just equalled England’s Six Nations record of 11 straight wins and were chasing the rarefied air of back-to-back Grand Slams.
Since that 23-22 defeat, however, Ireland have lost six times in 20 Tests. All six of those losses have come against the other three nations – South Africa, New Zealand and France – currently ranked higher than Andy Farrell’s side.
In the 12 months since beating England in last year’s Six Nations, Ireland have lost to France (twice), the All Blacks and the Springboks by a combined 61 points.
Their miserable return to Paris a fortnight ago ended with their heaviest Six Nations loss in 16 years, giving fuel to the ‘Ireland in decline’ debate.
Indeed, a succession of humbling in-ring experiences with the game’s heavyweights have intensified the scrutiny on a team who have slipped to fifth in the world rankings after entering the 2023 World Cup as number one.
Whether it’s been age profile, a creaking scrum, a sputtering attack, the unsettled fly-half situation or a British and Irish Lions hangover, most of the discussion has been largely negative.
But from an Irish perspective, there is no better way to flip the narrative than a big win over the English, who are wounded from last week’s Calcutta Cup defeat by Scotland.
Of course, having left Stade de France empty-handed before failing to secure a bonus point in the win over Italy, Ireland know another loss would dash their title hopes for another year.
“I think the lads are going to be a bit annoyed at the negative chat that’s surrounding the team for the past while,” legendary Ireland scrum-half Conor Murray said on the Ireland Rugby Social.
“There’s so many quality, world-class players and leaders in that team. I hope they just go there and say ‘let’s go for it here, lads, we’re sick of people talking about us in a negative light, look at the quality we have in the room.”
MILAN — Jordan Stolz’s run for the speedskating triple crown came up short in the 1,500 meters Thursday, with the American settling for silver behind China’s Ning Zhongyan at the Milan-Cortina Games.
Ning set an Olympic record, blazing the oval at Milano Speed Skating Stadium in 1 minute and 41.98 seconds. Stolz, who won gold in the 500 and 1,000 meters to become the first U.S. man to win in both distances in the same Olympic Games since 1980, had the fastest finishing kick of the top eight skaters, but reached for the line 0.77 of a second behind Ning at 1:42.75.
Stolz was the top-ranked racer in the 1,500-meter distance and raced in the final pair. Watching the speedskating superstar, Ning clasped his hands in prayer during the final race. When the final time flashed across the screen, his coach held Ning’s hands in the air. He began to sob. The 26-year-old earned his first Olympic gold medal after earning bronze in the 1,000 and the team pursuit.
Hoping to win four gold medals in Milan, Stolz still has an opportunity to add a third in the mass start on Saturday.
Connor Cipolla, an Eaton wildfire survivor, last year praised Southern California Edison’s plan of burying more than 60 miles of electric lines in Altadena as it rebuilds to reduce the risk of fire.
Then he learned he would have to pay $20,000 to $40,000 to connect his home, which was damaged by smoke and ash, to Edison’s new underground line. A nearby neighbor received an estimate for $30,000, he said.
“Residents are so angry,” Cipolla said. “We were completely blindsided.”
Other residents have tracked the wooden stakes Edison workers put up, showing where crews will dig. They’ve found dozens of places where deep trenches are planned under oak and pine trees that survived the fire. In addition to the added costs they face, they fear many trees will die as crews cut their roots.
“The damage is being done now and it’s irreversible,” homeowner Robert Steller said, pointing Maiden Lane to where an Edison crew was working.
For a week, Steller, who lost his home in the fire, parked his Toyota 4Runner over a recently dug trench. He said he was trying to block Edison’s crew from burying a large transformer between two towering deodar cedar trees. The work would “be downright fatal” to the decades-old trees, he said.
Altadena resident Robert Steller stands in front of his Toyota 4Runner that he parked strategically to prevent a Southern California Edison crew from digging too close to two towering cedar trees.
(Ronaldo Bolaños / Los Angeles Times)
The buried lines are an upgrade that will make Altadena’s electrical grid safer and more reliable, Edison says, and it also will lower the risk that the company would have to black out Altadena neighborhoods during dangerous Santa Ana winds to prevent fires.
Brandon Tolentino, an Edison vice president, said the company was trying to find government or charity funding to help homeowners pay to connect to the buried lines. In the meantime, he said, Edison decided to allow owners of homes that survived the fire to keep their overhead connections until financial help was available.
Tolentino added that the company planned meetings to listen to residents’ concerns, including about the trees. He said crews were trained to stop work when they find tree roots and switch from using a backhoe to digging by hand to protect them.
“We’re minimizing the impact on the trees as we [put lines] underground or do any work in Altadena,” he said.
Although placing cables underground is a fire prevention measure, consumer advocates point out it’s not the most cost-effective step Edison can take to reduce the risk.
Undergrounding electric wires can cost more than $6 million per mile, according to the state Public Utilities Commission, far more than building overhead wires.
Because utility shareholders put up part of the money needed to pay for burying the lines, the expensive work means they will earn more profit. Last year, the commission agreed Edison investors could earn an annual return of 10.03% on that money.
Edison said in April it would spend as much as $925 million to underground and rebuild its grid in Altadena and Malibu, where the Palisades fire caused devastation. That amount of construction spending will earn Edison and its shareholders more than $70 million in profit before taxes — an amount billed to electric customers — in the first year, according to calculations by Mark Ellis, the former chief economist for Sempra, the parent company of Southern California Gas and San Diego Gas & Electric.
That annual return will continue over the decades while slowly decreasing each year as the assets are depreciated, Ellis said.
“They’re making a nice profit on this,” he said.
Tolentino said the company wasn’t doing the work to profit.
“The primary reason for undergrounding is the wildfire mitigation,” he said. “Our focus is supporting the community as they rebuild.”
It’s unclear if the Eaton fire would have been less disastrous if Altadena’s neighborhood power lines had been buried. The blaze ignited under Edison’s towering transmission lines that run down the mountainside in Eaton Canyon. Those lines carry bulk power through Edison’s territory. The power lines being put underground are the smaller distribution lines, which carry power to homes.
A power line outside the home of Altadena resident Connor Cipolla.
(Ronaldo Bolanos/Los Angeles Times)
The investigation into the fire’s cause has not yet been released. Edison says a leading theory is that one of the Eaton Canyon transmission lines, which hadn’t carried power for 50 years, might have briefly reenergized, sparking the blaze. The fire killed 19 people and destroyed more than 9,000 homes, businesses and other structures.
Edison said it has no plans to bury those transmission lines.
The high cost of undergrounding has become a contentious issue in Sacramento because, under state rules, most or all of it is billed to all customers of the utility.
Before the Eaton fire, Edison won praise from consumer advocates by installing insulated overhead wires that sharply cut the risk of the lines sparking a fire for a fraction of the cost. Since 2019, the company has installed more than 6,800 miles of the insulated wires.
“A dollar spent reconductoring with covered conductor provides … over four times as much value in wildfire risk mitigation as a dollar spent on underground conversion,” Edison said in testimony before the utilities commission in 2018.
By comparison, Pacific Gas & Electric has relied more on undergrounding its lines to reduce the risk of fire, pushing up customer utility bills. Now Edison has shifted to follow PG&E’s example.
Mark Toney, executive director of the the Utility Reform Network, a consumer group in San Francisco, said his staff estimates Edison spends $4 million per mile to underground wires compared with $800,000 per mile for installing insulated lines.
By burying more lines, customer bills and Edison’s profits could soar, Toney said.
“Five times the cost is equal to five times the profit,” he said.
Last spring, Pedro Pizarro, chief executive of Edison International, told Gov. Gavin Newsom about the company’s undergrounding plans in a letter. Pizarro wrote that rules at the utility commission would require Altadena and Malibu homeowners to pay to underground the electric wire from their property line to the panel on their house. He estimated it would cost $8,000 to $10,000 for each home.
Residents who need to dig long trenches may pay far more than that, said Cipolla, who is a member of the Altadena Town Council.
An oak tree stands tall in an area impacted by the Eaton fires. Homeowners worry such trees could be at risk in the undergrounding work.
(Ronaldo Bolanos/Los Angeles Times)
Last week, Cipolla showed a reporter the electrical panel on the back of his house, which is many yards away from where he needs to connect to Edison’s line. The company also initially wanted him to dig up the driveway he poured seven years ago, he said. Edison later agreed to a location that avoids the driveway.
Tolentino said Edison’s crews were working with homeowners concerned about the company’s planned locations for the buried lines.
“We understand it is a big cost and we’re looking at different sources to help them,” he said.
At the same time, some residents are fuming that, despite the undergrounding work, most of the town’s neighborhoods still will have overhead telecommunications lines. In other areas of the state, the telecommunications companies have worked with the electric utilities to bury all the lines, eliminating the visual clutter.
So far, the telecom companies have agreed to underground only a fraction of their lines in Altadena, Tolentino said.
Cipolla said Edison executives told him they eventually plan to chop off the top of new utility poles the company installed after the fire, leaving the lower portion that holds the telecom lines.
“There is no beautification aspect to it whatsoever,” Cipolla said.
As for the trees, Steller and other residents are asking Edison to adjust its construction map to avoid digging near those that remain after the fire. Altadena lost more than half of its tree cover in the blaze and as crews cleared lots of debris.
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1.A pedestrian walks past Christmas Tree lane in Altadena. Christmas Tree Lane was officially listed in the National Register of Historic Places in 1990.2.A “We Love Altadena” sign hangs from a shrub on Christmas Tree Lane.3.Parts of a chopped down tree rest on a street curb in Altadena.
Wynne Wilson, a fire survivor and co-founder of Altadena Green, pointed out that the lot across the street from the giant cedar trees on Maiden Lane has no vegetation, making it a better place for Edison’s transformer.
“This is needless,” Wilson said. “People are dealing with so much. Is Edison thinking we won’t fight over this?”
Carolyn Hove, raising her voice to be heard over the crew operating a jackhammer in front of her home, asked: “How much more are we supposed to go through?”
Hove said she doesn’t blame the crews of subcontractors the utility hired, but Edison’s management.
“It’s bad enough our community was decimated by a fire Edison started,” she said. “We’re still very traumatized, and then to have this happen.”
Line of Duty is back for a new series – with Adrian Dunbar, Vicky McClure and Martin Compston all reprising their roles for the seventh series
05:55, 17 Feb 2026Updated 05:56, 17 Feb 2026
Line of Duty is back for a brand new series – with a plot twist being revealed(Image: BBC)
Line of Duty is back for a new series – and now a big plotline has been let slip ahead of the new episodes. The BBC show – featuring Adrian Dunbar, Vicky McClure and Martin Compston – ended four years ago but will make a return for a seventh series.
In a shocking turn of events, the fictional police anti-corruption unit AC-12, which investigates bent coppers, finally unmasked the mysterious ‘H’, who was unmasked as bumbling detective Ian Buckells.
Fans were left fuming by the big reveal – which had been years in the making – and begged for the show to continue. It is now back, with the unit having been ditched and rebranded as the Inspectorate of Police Standards.
In the story, Detective Inspector Dominic Gough, a charismatic officer winning plaudits for a string of takedowns of organised crime, is accused of abusing his position of trust to act as a sexual predator. But the team must work out whether Gough’s case is actually a deliberate distraction from a bigger threat.
Creator Jed Mercurio said of the upcoming new series: “Everyone involved in Line of Duty feels enormous gratitude to the show’s fans. We’re privileged to have had so many of you follow the ups and downs of AC-12 over six previous seasons, and we couldn’t be more delighted to be returning for a seventh.
“Corruption in this country is supposed to have come to an end while Line of Duty was off air so I’ve been forced to use my imagination.”
Martin Compston – who played Steve Arnott since its inception – added: “Line of Duty has been a job of a lifetime. Not only in terms of the show’s success but the people I’ve had the opportunity to work with I now call some of my closest friends. I can’t wait to pull the waistcoat on again and get the team back together.”
Vicky said: “It goes without saying I’m so excited Line of Duty is back – can’t wait to work with Jed, Martin and Adrian again. Belfast, we’ll see you soon!”
With Adrian adding: “As we count down the AC12 days of Christmas what a joy it is to know that the Three Amigos will be back filming together next year. Delighted with the news and looking forward to those mercurial twists and turns.”
Now, sources have claimed that there will be a revisit of the ‘H’ storyline in a shocking twist.
“There was genuine anger about the way series six ended and that was part of the reason that a seventh outing was ordered. But this is the first time that there’s been any news on whether they’ll bring back the ‘H’ storyline — and devotees will be thrilled to hear Jed will be giving them just what they want,” a source told The Sun.
“Although there is still likely to be a new villain introduced into the new season, just as there has been with every series since the show was launched. But the incoming baddie’s storyline is likely to be intertwined with that of ‘H’ in a sensational double-whammy.”
The Winter Olympics medal hopes of Team GB’s men’s curlers have been cast into doubt after a shock 8-6 defeat by Norway left them scrambling to make the semi-finals in Cortina.
Bruce Mouat’s world champions had lost two of their opening six matches, and were expected to beat the Norwegians for their fifth victory of the competition.
Leading 4-2 after six ends, they appeared to be in good shape. But a few untimely errors, combined with a disciplined display by their unheralded opponents, left them 6-4 down with two ends left.
Mouat’s attempted triple takeout in the penultimate end was a fraction out, but still yielded two to level the scores going into the last. However, Norway held their nerve with the hammer to close out an unexpected victory.
But the British rink will need to beat both Canada on Tuesday and the United States the following day (both 18:05 GMT).
“We need to win our next two to make sure we’re definitely in the semis,” lead Hammy McMillan told BBC Sport. “We’re doing a lot of the right things, we just need to find that extra inch.”
The women’s rink are not well-placed, either, but they did deliver their best in the biggest moment to beat Denmark 7-2 and keep their hopes alive.
Having lost three of their opening four, Rebecca Morrison’s rink need victories in at least four of their final five matches to have any chance of salvaging a place in Friday’s last four – and they began that quest well.
An aggressive start was rewarded with an early 2-0 advantage and the British rink led 3-2 at the break.
Another fine two-point haul in the sixth, followed by a steal in the seventh, opened up a four-point gap with three ends to play and the Scottish quartet closed out the win.
They are back on the ice against Switzerland at 18:05 GMT in another must-win contest, live on the BBC.
HomeNewsSpaceX IPO Would Set Record As First Trillion‑Dollar Offering As More Giants Line Up
OpenAI, Anthropic, and Databricks lead a new class of super-sized private companies eyeing public markets.
The US IPO market has never seen a trillion-dollar debut. That may soon change as a wave of mega-valued private companies considers tapping public markets, which are eager for fresh stock.
Behind the headlines about the potential Elon Musk IPO from the newly merged SpaceX and xAI is a class of potential mega-sized deals currently valued in the hundreds of billions, supported by a thriving ecosystem for funding big companies in private markets.
SpaceX’s private market valuation is estimated at $1.25 trillion, placing it ninth in the S&P 500. That’s just below Tesla’s $1.5 trillion valuation and ahead of Warren Buffett’s Berkshire Hathaway ($1.1 trillion) and Walmart ($1.05 trillion).
If Musk succeeds in taking SpaceX public this year, it will likely sell about 10% of its equity in the IPO, raising $125 billion. That figure would handily exceed Saudi Aramco’s IPO proceeds of $29.4 billion, the largest global IPO ever, and Alibaba’s IPO proceeds of $21.8 billion, still the largest ever in the US since its 2014 debut.
“There is no precedent for an IPO this large,” Morningstar passive strategies analyst Zachary Evens said in an email to Global Finance. “I am interested to see if index providers make exceptions for mega IPOs since they will instantly reshape the market.”
Nasdaq is considering a special “fast entry” rule that would allow a company to join its flagship index after its first 15 trading days, he said.
Meanwhile, OpenAI is currently valued at about $500 billion. That’s roughly double Alibaba’s $236 billion enterprise value, the current record holder for a US IPO, when it went public in 2014.
Anthropic, the company behind the Claude AI service, is valued at about $374 billion — also bigger than Alibaba — and business software specialist Databricks tips the scales at $134 billion.
These companies also dwarf the $81 billion valuation of Facebook at its 2012 IPO or the $75.5 billion market cap of Uber Technologies at its 2019 IPO.
To be sure, it’s possible that the sky-high valuations of these private companies could take a big hit amid uncertainty on Wall Street about whether unprecedented spending on AI will pay off. The window to take companies public slammed shut in April of last year after the launch of the US’s Liberation Day tariff regime. And it could do so again if the recent tech selloff driven by AI jitters continues.
While the companies are part of an ecosystem that developed and grew in the years following the Financial Crisis, they’ve never experienced a severe recession or a bubble burst, such as the dot-com meltdown of 2000-2001.
Still, after a sluggish IPO market in recent years and the dwindling number of listed companies due to take-private and other merger deals in the marketplace, brokers remain hungry for more public stock, said Mark Lehmann, vice chair of the commercial bank at Citizens Financial Group.
“There’s a whole host of people who will want exposure to these companies,” he said, including institutions, wealthy individuals, and retail investors.
Kaush Amin, managing director and head of private market investing at US Bank, said that valuations of some AI companies assume widespread use of their products within five to ten years. That’s much faster than the 70 years it took for the Industrial Revolution to diffuse across the U.K. and the 25 years it took for the internet to take hold across the economy.
Some pockets of the tech sector are very overvalued because the numbers may not reflect the infrastructure support AI needs and how long it may take to build and be adopted across the economy. There’s a need for capex funding, data centers, chip purchases, and power purchases. This all takes time and money.
Other than Nvidia or other large strategic players – maybe Softbank, for example – there aren’t many players out there that can write big enough checks, Amin said.
While the debate continues over how these and other unicorns will fare after going public, the private capital ecosystem continues to grow.
Morgan Stanley acquired EquityZen, a private markets brokerage, and folded the business into its investment portfolio for its wealthy clients. The deal will also enable the bank to help sell private stock earned as part of a client’s compensation package. Charles Schwab has similar plans with its acquisition of Forge Global.
David Shapiro, co-founder and CEO of OpenVC, which helped create the NYSE OPEN Venture Capital Unicorn Index, said investors are eager to secure stakes in companies before they go public – but they should be aware that fees may be much higher in some cases and that once an IPO debuts, it may fall flat.
“Sometimes, by the time these companies go public, all the juice has already been squeezed for investors,” said Shapiro. This is a reason to invest in companies before they go public — to realize bigger gains. The companies in the index alone add up to an addressable market of about $2 trillion or more, at last check.
The head office of Mirae Asset Securities in Seoul. The brokerage house reported record earnings for 2025. Photo courtesy of Mirae Asset Securities
SEOUL, Feb. 10 (UPI) — South Korea’s Mirae Asset Securities said it posted a record bottom line last year, based on solid performances across its business sectors, including brokerage, wealth management and trading.
The Seoul-based company said Monday it netted $1.1 billion in the 2025 profit, up 72% from a year earlier, as assets under management rose 25% to $410 billion. Among them, 14% was operated in the global markets.
The pretax profit from its brokerage business jumped 43% year-on-year thanks to a bullish stock market, which saw the country’s benchmark KOSPI surge more than 75% last year.
Those from its wealth management and trading divisions rose 21% and 14%, respectively.
Another key contributor to the results was its global business, of which pretax profit doubled to $342 million. Mirae Asset Securities noted that its investments in such innovative companies as SpaceX and xAI boosted profitability.
“Since our founding, we have strategically reinvested capital secured through globally diversified investments, building a virtuous circle that has led to meaningful achievements,” Mirae Asset Securities said in a statement.
The share price of Mirae Asset Securities climbed 11.25% on the Seoul bourse Monday before dipping 2.43% Tuesday.
The largest brokerage house of South Korea is a representative subsidiary of Mirae Asset Group, one of the country’s leading financial conglomerates.
California Gov. Gavin Newsom, who has acknowledged he is eyeing a presidential bid, has incensed both Democrats and Republicans over immigrant healthcare, underscoring the delicate political path ahead.
For a second straight year, the Democrat has asked state lawmakers to roll back coverage for some immigrants in the face of federal Medicaid spending cuts and a roughly $3-billion budget deficit that analysts warn could worsen if the AI bubble bursts. Newsom has proposed that the state not step in when, starting in October, the federal government stops providing health coverage to an estimated 200,000 legal residents — comprising asylees, refugees and others.
Progressive legislators and activists said the cost-saving measures are a departure from Newsom’s “health for all” pledge, and Republicans continue to skewer Newsom for using public funds to cover any noncitizens.
Newsom’s latest move would save an estimated $786 million this fiscal year and $1.1 billion annually in future years in a proposed budget of $349 billion, according to the Department of Finance.
State Sen. Caroline Menjivar, one of two Senate Democrats who voted against Newsom’s immigrant health cuts last year, said she worried the governor’s political ambition could be getting in the way of doing what’s best for Californians.
“You’re clouded by what Arkansas is going to think, or Tennessee is going to think, when what California thinks is something completely different,” said Menjivar, who said previous criticism got her temporarily removed from a key budget subcommittee. “That’s my perspective on what’s happening here.”
Meanwhile, Republican state Sen. Tony Strickland criticized Newsom for glossing over the state’s structural deficit, which state officials say could balloon to $27 billion the following year. And he slammed Newsom for continuing to cover California residents in the U.S. without authorization. “He just wants to reinvent himself,” Strickland said.
It’s a political tightrope that will continue to grow thinner as federal support shrinks amid ever-rising healthcare expenses, said Guian McKee, a co-chair of the Health Care Policy Project at the University of Virginia’s Miller Center of Public Affairs.
“It’s not just threading one needle but threading three or four of them right in a row,” McKee said. Should Newsom run for president, McKee added, the priorities of Democratic primary voters — who largely mirror blue states like California — look very different from those in a far more divided general electorate.
Americans are deeply divided on whether the government should provide health coverage to immigrants without legal status. In a KFF poll last year, a slim majority — 54% — were against a provision that would have penalized states that use their own funds to pay for immigrant healthcare, with wide variation by party. The provision was left out of the final version of the bill passed by Congress and signed by President Trump.
Even in California, support for the idea has waned amid ongoing budget problems. In a May survey by the Public Policy Institute of California, 41% of adults in the state said they supported providing health coverage to immigrants without authorization, a sharp drop from the 55% who supported it in 2023.
Trump, Vice President JD Vance, other administration officials, and congressional Republicans have repeatedly accused California and other Democrat-led states of using taxpayer funds on immigrant healthcare, a red-meat issue for their GOP base. Centers for Medicare & Medicaid Services Administrator Mehmet Oz has accused California of “gaming the system” to receive more federal funds, freeing up state coffers for its Medicaid program, known as Medi-Cal, which has enrolled roughly 1.6 million immigrants without legal status.
“If you are a taxpayer in Texas or Florida, your tax dollars could’ve been used to fund the care of illegal immigrants in California,” he said in October.
California state officials have denied the charges, noting that only state funds are used to pay for general health services to those without legal status because the law prohibits using federal funds. Instead, Newsom has made it a “point of pride” that California has opened up coverage to immigrants, which his administration has noted keeps people healthier and helps them avoid costly emergency room care often covered at taxpayer expense.
“No administration has done more to expand full coverage under Medicaid than this administration for our diverse communities, documented and undocumented,” Newsom told reporters in January. “People have built careers out of criticizing my advocacy.”
Newsom warns the federal government’s “carnival of chaos” passed Trump’s One Big Beautiful Bill Act, which he said puts 1.8 million Californians at risk of losing their health coverage with the implementation of work requirements, other eligibility rules, and limits to federal funding to states.
Nationally, 10 million people could lose coverage by 2034, according to the Congressional Budget Office. Health economists have said higher numbers of uninsured patients — particularly those who are relatively healthy — could concentrate coverage among sicker patients, potentially increasing premium costs and hospital prices overall.
Immigrant advocates say it’s especially callous to leave residents who may have fled violence or survived trafficking or abuse without access to healthcare. Federal rules currently require state Medicaid programs to cover “qualified noncitizens” including asylees and refugees, according to Tanya Broder with the National Immigration Law Center. But the Republican tax-and-spending law ends the coverage, affecting an estimated 1.4 million legal immigrants nationwide.
With many state governors yet to release budget proposals, it’s unclear how they might handle the funding gaps, Broder said.
For instance, Colorado state officials estimate roughly 7,000 legal immigrants could lose coverage due to the law’s changes. And Washington state officials estimate 3,000 refugees, asylees, and other lawfully present immigrants will lose Medicaid.
Both states, like California, expanded full coverage to all income-eligible residents regardless of immigration status. Their elected officials are now in the awkward position of explaining why some legal immigrants may lose their healthcare coverage while those without legal status could keep theirs.
Last year, spiraling healthcare costs and state budget constraints prompted the Democratic governors of Illinois and Minnesota, potential presidential contenders JB Pritzker and Tim Walz, to pause or end coverage of immigrants without legal status.
California lawmakers last year voted to eliminate dental coverage and freeze new enrollment for immigrants without legal status and, starting next year, will charge monthly premiums to those who remain. Even so, the state is slated to spend $13.8 billion from its general fund on immigrants not covered by the federal government, according to Department of Finance spokesperson H.D. Palmer.
At a news conference in San Francisco in January, Newsom defended those moves, saying they were necessary for “fiscal prudence.” He sidestepped questions about coverage for asylees and refugees and downplayed the significance of his proposal, saying he could revise it when he gets a chance to update his budget in May.
Kiran Savage-Sangwan, executive director of the California Pan-Ethnic Health Network, pointed out that California passed a law in the 1990s requiring the state to cover Medi-Cal for legal immigrants when federal Medicaid dollars won’t. This includes green-card holders who haven’t yet met the five-year waiting period for enrolling in Medicaid.
Calling the governor’s proposal “arbitrary and cruel,” Savage-Sangwan criticized his choice to prioritize rainy-day fund deposits over maintaining coverage and said blaming the federal government was misleading.
It’s also a major departure from what she had hoped California could achieve on Newsom’s first day in office seven years ago, when he declared his support for single-payer healthcare and proposed extending health insurance subsidies to middle-class Californians.
“I absolutely did have hope, and we celebrated advances that the governor led,” Savage-Sangwan said. “Which makes me all the more disappointed.”
KFF Health News is a national newsroom that produces in-depth journalism about health issues and is one of the core operating programs at KFF — the independent source for health policy research, polling and journalism.
LNER has revealed its new fleet of trains in first-look images – and they’ve got perks for every customer.
The upgraded carriages will have water refill stations throughout the trains and in First Class even mood lighting and reclining seats.
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LNER’s first-look images of its new Class 897 trains – First Class will have reclining seatsCredit: LNERThroughout all its carriages will be water refill stationsCredit: LNER
LNER, which operates trains across the East Coast Main Line, has revealed what its new fleet of Class 897 trains will look like.
The latest upgrades include “improved seating” across all classes with enhanced seat pads, side bolsters and wider head cushions .
One huge perk for all customers, especially those on a long journey, is that they’ll will be able to stay hydrated for free, thanks to the introduction of five water bottle refill stations throughout the train.
Travellers won’t have to pop to the cafe to buy a bottle of water – instead, just top up as you go.
The only other train line that offers complimentary water with refill stations is Avanti West Coast on its Pendolino and Evero trains.
Also onboard the new LNER trains will be new digital screens in each carriage so customers can keep an eye on their journey and the upcoming stops.
Each seat will have its own plug socket and USB-C ports too for phone charging.
For Standard Class customers, there will be a new and improved Café Bar.
Here, you can pick up snacks and drinks and can see what’s available in real-time on digital menu screens.
Those sitting in First Class can fully relax in seats that actually recline.
There will also be softer lighting, including mood and table lighting in First Class – so the lights won’t be too bright for those travelling during early mornings and evenings.
Other changes include the redesign of bike storage areas and toilets.
A digital menu will be outside the cafe so customers can see what’s actually availableCredit: LNERThere will be larger spaces for suitcases and bikesCredit: LNER
For wheelchair users, tables have been redesigned to make more room with seat legs moved and additional space created for assistance dogs.
The 10-carriage trains called ‘Serenza’, will each have a total of 569 seats across Standard and First Class, alongside wheelchair spaces.
No date for introduction of the Class 897s has been announced yet.
But the new fleet is set to replace LNER’s InterCity 225 fleet, which focuses on services between London King’s Cross and destinations like Leeds, York, Bradford Forster Square, and Skipton.
Defensive lineman Teair Tart is returning to the Chargers with a three-year contract extension.
The Chargers announced the deal Monday night for Tart, who joined the team in August 2024 after he was released by the Miami Dolphins. Tart quickly became a contributor to Los Angeles’ defense, and he started all 18 games this season in the middle of the Bolts’ line.
Tart has 61 tackles, nine tackles for loss, one sack and an interception in his two seasons with the Chargers. He has been particularly effective in run defense, stepping up to fill a need created when Poona Ford left last year to sign with the Rams.
Tart began his NFL career as an undrafted free agent with the Tennessee Titans in 2020. The Florida International product also briefly played for Houston.
The Chargers likely will have some new defensive concepts next season after defensive coordinator Jesse Minter was hired to be the Baltimore Ravens’ head coach. Minter was coach Jim Harbaugh’s coordinator for his first two seasons in Los Angeles, producing one of the NFL’s top five units in scoring defense, total defense and passing defense.
The Bolts went 11-6 and lost in the wild-card round of the playoffs in each of Harbaugh’s first two seasons. Harbaugh hired former Dolphins coach Mike McDaniel as his offensive coordinator earlier Monday.