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Budget airline Ryanair to scrap the option for passengers to print out and use a paper boarding pass

Ryanair passengers will be forced to use digital boarding passes only from next week.

The budget airline issued update to remind customers, ahead of the big change from Wednesday November 12. From that date, passengers will no longer be able to download and print a physical paper boarding pass.

Instead, they will have to use the digital boarding pass generated in the “myRyanair” app on their mobile device – smartphone or tablet – during check-in process to board any of its flights.

Ryanair insisted the “vast majority” of people already use digital boarding in this way, adding that nearly 80% of its more than 207 million passengers annually did so. But that still means that around 40 million passengers who prefer other methods, including printing their pass, will be impacted.

Dara Brady, Ryanair’s chief marketing officer, said: “While over 80% of passengers already use digital boarding passes, and therefore won’t be affected by this progressive change, we remind the small number of passengers who still print boarding passes to download the myRyanair app ahead of the move to 100% digital boarding passes from Wednesday, 12 November.

“Moving fully digital means a faster, smarter, and greener experience for passengers, whilst also providing easier access to a range of innovative in-app features, including ‘Order to Seat’, live flight information and direct updates during disruption. We look forward to delivering an enhanced travel experience for 100% of our customers, streamlined through our best-in-class myRyanair app.”

Ryanair insisted the move would mean lower airport costs and so fares for all Ryanair passengers, as well as saving 300 tonnes of paper annually.

But it has already had to reassurance customers who fear they will be caught out. For instance, it says that if passengers lose their smartphone or tablet they can get a free boarding pass at the airport, but assuming they have already checked-in to their flight online. The same is true if their battery runs out before they get through airport security, it says, while if it packs up before boarding then they “will be assisted at the gate.”

Then there is the question of what happens if a customer does not have a smartphone with the Ryanair app. The airline says: “If passengers don’t have a smartphone or tablet, as long as they have already checked-in online before arriving at the airport, they will receive a free of charge boarding pass at the airport.”

Ryanair added that, as long as passengers have checked-in online, the digital boarding pass will be available regardless of whether they have a mobile signal or not.

Netflix on Wednesday touted a surge in popularity for its low-cost streaming plan with ads, as it looks to tap into the lucrative the world of brands.

The streaming giant said it now has more than 190 million monthly active viewers watching ads through a plan that costs $7.99 a month. The lowest cost ad-free plan costs $17.99 a month.

In May, Netflix said it had 94 million monthly active users watching ads through the cheaper plan. That translated to roughly 170 million monthly active viewers, the company said at the time.

However, the Los Gatos, Calif.-based company is now using a different methodology to measure its audience watching ads, making exact comparison’s difficult.

Netflix now defines monthly active viewers as customers who watched at least 1 minute of ads on Netflix per month. It then multiplies that by the estimated average number of people in a household. Previously, Netflix had measured monthly active users based on the number of Netflix profiles watching content with ads.

The streamer said its previous measurement didn’t illustrate all the people who were in the room watching.

“Our move to viewers means we can give a more comprehensive count of how many people are actually on the couch, enjoying our can’t-miss series, films, games and live events with friends and family,”wrote Amy Reinhard, Netflix’s president of advertising in a post on the streamer’s website on Wednesday.

On Wednesday, Netflix executives said the growth in ad viewers was in line with their expectations.

“We are very satisfied with where we are at,” Reinhard, said in a press briefing. “We think there is a lot of opportunity to grow on this plan around the world, and we’re going to continue to make sure that we are offering our customers a great experience and a great buying experience on the advertising side.”

Netflix began its foray into ad-supported streaming in 2022, after it received pressure from investors to diversify how it makes revenue. Previously, Netflix mainly made money through subscriptions and for many years had been ad-adverse.

The company said last month it was on track to more than double its ad revenue in 2025, but did not cite specific figures. Netflix Co-CEO Greg Peters said in an earnings presentation in October that the ad revenue is still small relative to the size of the company’s subscription revenues, but advertisers are excited about Netflix’s growing scale.

“We see plenty of room for growth ahead,” Peters said.

On Wednesday, Netflix said it is expanding its options for advertisers, including demographic targeting in areas such as education, marital status and household income.

Netflix also said it has partnered with brands including brewing company Peroni Nastro Azzurro in ads for its romantic comedy series “Emily in Paris,” and tested dynamic ad insertion with programs including WWE Raw this quarter and will offer that feature in the U.S. and other countries for NFL Christmas Gameday.

Many streamers have been increasing the cost of their subscriptions in order to become more profitable. Earlier this year Netflix raised the prices on plans.

Clippers owner Steve Ballmer is being sued by 11 former investors in the sustainability firm Aspiration Partners.

Ballmer was added this week as a defendant in an existing civil lawsuit against Aspiration co-founder Joseph Sanberg and several others associated with the now-defunct company. Ballmer and the other defendants are accused of fraud and aiding and abetting fraud, with the plaintiffs seeking at least $50 million in damages.

“This is an action to recover millions of dollars that Plaintiffs were defrauded into investing, directly or indirectly, in CTN Holdings, Inc. (‘Catona’), previously known as Aspiration Partners, Inc,” reads the lawsuit, which was initially filed July 9 in Los Angeles County Superior Court, Central District.

Attorney Skip Miller said his firm, Miller Barondess LLP, filed an amended complaint Monday that added the billionaire team owner and his investment company, Ballmer Group, as defendants in light of recent allegations that a $28-million deal between Aspiration and Clippers star Kawhi Leonard helped the team circumvent the NBA’s salary cap.

“Ballmer was the perfect deep-pocket partner to fund Catona’s flagging operations and lend legitimacy to Catona’s carbon credit business,” says the amended complaint, which has been viewed by The Times. “Since Ballmer had publicly promoted himself as an advocate for sustainability, Catona was an ideal vehicle for Ballmer to secretly circumvent the NBA salary cap while purporting to support the company as a legitimate environmentalist investor.”

Although Ballmer did invest millions in Aspiration, it is not known whether he was aware of or played a role in facilitating the company’s deal with Leonard. The Times reached out to the Clippers for a comment from Ballmer or a team representative but did not receive an immediate response.

CTN Holdings filed for bankruptcy in March and, according to the lawsuit, is no longer in operation.

In late August, Sanberg agreed to plead guilty in federal court to a scheme to defraud investors and lenders of more than $248 million. On Sept. 3, investigative journalist Pablo Torre reported on his podcast that after reviewing numerous documents and conducting interviews with former employees of the now-defunct firm, he did not find evidence of any marketing or endorsement work done by Leonard for the company.

That was news to the plaintiffs, according to their amended lawsuit.

“Ballmer’s purported status as a legitimate investor in Catona was material to Plaintiffs’ decision to invest in and/or keep their investments with Catona,” the complaint states.

It also says that “Sanberg and Ballmer never disclosed to Plaintiffs that the millions of dollars Ballmer injected into Catona were meant to allow Ballmer to funnel compensation to Leonard in violation of NBA rules and keep Catona’s failing business afloat financially. Sanberg and Ballmer’s scheme to pay Leonard through Catona to evade the NBA’s salary cap was only later revealed in 2025, by journalist Pablo Torre.”

Miller said in a statement to The Times: “A lot of people including our clients got hurt badly in this case. This lawsuit is being brought to make them whole for their losses. I look forward to our day in court for justice.”

The NBA announced an investigation into the matter in early September. Speaking at a forum that month hosted by the Sports Business Journal, Ballmer said that he felt “quite confident … that we abided [by] the rules. So, I welcome the investigation that the NBA is doing.”

The Clippers said in a statement at the time: “Neither Mr. Ballmer nor the Clippers circumvented the salary cap or engaged in any misconduct related to Aspiration. Any contrary assertion is provably false: The team ended its relationship with Aspiration years ago, during the 2022-23 season, when Aspiration defaulted on its obligations.

“Neither the Clippers nor Mr. Ballmer was aware of any improper activity by Aspiration or its co-founder until after the government instituted its investigation.”

Leonard also has denied being involved in any wrongdoing associated with his deal with the now-defunct firm. Asked about the matter Sept. 29 during Clippers media day to open training camp, Leonard said, “I don’t think it’s accurate” that he provided no endorsement services to the company. He added that he hadn’t been paid all the money due to him from the deal.

WASHINGTON — Signs of a potential end to the government shutdown intensified Tuesday with behind-the-scenes talks, as the federal closure was on track to become the longest ever disrupting the lives of millions of Americans.

Senators from both parties, Republicans and Democrats, are quietly negotiating the contours of an emerging deal. With a nod from their leadership, the senators seek a way to reopen the government, put the normal federal funding process back on track and devise some sort of resolution to the crisis of expiring health insurance subsidies that are spiking premium costs from coast to coast.

“Enough is enough,” said Senate Majority Leader John Thune, the South Dakota Republican, as he opened the deadlocked chamber.

On day 35 of the federal government shutdown, the record for the longest will be broken after midnight. With SNAP benefits interrupted for millions of Americans depending on federal food aid, hundreds of thousands of federal employees furloughed or working without pay and contracts being delayed, many on and off Capitol Hill say it’s time for it to end. Transportation Secretary Sean Duffy predicted there could be chaos in the skies next week if the shutdown drags on and air traffic controllers miss another paycheck. Labor unions put pressure on lawmakers to reopen the government.

Election Day is seen as a turning point

Tuesday’s elections provide an inflection point, with off-year governor’s races in Virginia and New Jersey, along with the mayor’s race in New York that will show voter attitudes, a moment of political assessment many hope will turn the tide. Another test vote Tuesday in the Senate failed, as Democrats rejected a temporary government funding bill.

“We’re not asking for anything radical,” Senate Democratic Leader Chuck Schumer said. “Lowering people’s healthcare costs is the definition of common sense.”

Unlike the earlier shutdown during President Trump’s first term, when he fought Congress in 2018-19 for funds to build the U.S.-Mexico border wall, the president has been largely absent from this shutdown debate.

Trump threatens to halt SNAP food aid

But on Tuesday, Trump issued a fresh threat, warning he would halt SNAP food aid unless Democrats agree to reopen the government.

SNAP benefits “will be given only when the Radical Left Democrats open up government, which they can easily do, and not before!” Trump said on social media. That seemed to defy court orders to release the Supplemental Nutrition Assistance Program contingency funds.

His top spokeswoman, press secretary Karoline Leavitt, said later that the administration continues to pay out SNAP funding in line with court orders.

With House Speaker Mike Johnson having sent lawmakers home in September, most attention is on the Senate. There, the leadership has outsourced negotiations to a loose group of centrist dealmakers from both parties have been quietly charting a way to end the standoff.

“We pray that today is that day,” said Johnson, R-La., holding his daily process on the empty side of the Capitol.

Contours of a potential deal

Central to any endgame will be a series of agreements that would need to be upheld not only by the Senate, but also the House, and the White House, which is not at all certain in Washington where Republicans have full control of the government.

First of all, senators from both parties, particularly the powerful members of the Appropriations Committee, are pushing to ensure the normal government funding process can be put back on track.

Sen. Susan Collins, R-Maine, the chair of the Senate Appropriations Committee, and GOP Sen. Mike Rounds of South Dakota, along with several Democrats, including Sens. Jeanne Shaheen and Maggie Hassan of New Hampshire, and Chris Coons of Delaware, are among those working behind the scenes.

“The pace of talks have increased,” said Sen. Gary Peters, D-Mich., who has been involved in conversations.

Among the goals is guaranteeing upcoming votes on a smaller package of bills where there is already widespread bipartisan agreement to fund various aspects of governments, like agricultural programs and military construction projects at bases.

“I certainly think that that three-bill package is primed to do a lot of good things for the American people,” said Sen. Katie Britt, R-Ala, who has also been in talks.

More difficult, a substantial number of senators also want some resolution to the standoff over the funding for the Affordable Care Act subsidies that are set to expire at year’s end.

White House won’t engage on health care until government reopens

The White House says its position remains unchanged and that Democrats must vote to fund the government until talks over health care can begin. White House officials are in close contact with GOP senators who have been quietly speaking with key Senate Democrats, according to a senior White House official. The official was granted anonymity to discuss administration strategy.

With insurance premium notices being sent, millions of Americans are experiencing sticker shock on skyrocketing prices. The loss of federal subsidies, which come in the form of tax credits, are expected to leave many people unable to buy health insurance.

Republicans, with control of the House and Senate, are reluctant to fund the health care program, also known as Obamacare. But Thune has promised Democrats a vote on their preferred proposal, on a date certain, as part of any deal to reopen government.

That’s not enough for some senators, who see the health care deadlock as part of their broader concerns with Trump’s direction for the country.

“Trump is a schoolyard bully,” said Sen. Bernie Sanders, the Independent from Vermont, in an op-ed. “Anyone who thinks surrendering to him now will lead to better outcomes and cooperation in the future does not understand how a power-hungry demagogue operates.”

Moreover, Democrats, and some Republicans, are also pushing for guardrails to prevent the Trump administration’s practice of unilaterally slashing funds for programs that Congress had already approved, by law, the way billionaire Elon Musk did earlier this year at the Department of Government Efficiency.

With the Senate, which is split 53-47, having tried and failed more than a dozen times to advance the House-passed bill over the filibuster, that measure is out of date. It would have funded government to Nov. 21.

Trump has demanded senators nuke the filibuster, the Senate rule that requires a 60-vote threshold to advance most legislation, which preserves minority rights in the chamber. GOP senators panned that demand.

Both Thune and Johnson have acknowledged they will need a new temporary measure. They are eyeing one that skips past the Christmas holiday season, avoiding what often has been a year-end crunch, and instead develop an agreement that would keep government running into the near year, likely January.

Mascaro and Jalonick write for the Associated Press. AP writers Kevin Freking, Seung Min Kim and Matt Brown contributed to this story.

The Los Angeles Dodgers’ thrilling 11-inning Saturday win over the Toronto Blue Jays was the most watched World Series game since 2017, according to Nielsen data.

The Fox telecast of the Game 7 contest giving the Dodgers their second consecutive world championship attracted an average of 25. 5 million viewers on Fox.

Viewers watching the Spanish-language telecast on Fox Deportes and Fox Sports streaming platforms brought the audience figure to just under 26 million.

The Dodgers’ 5-4 win delivered the largest audience for a World Series game since the Houston Astros’ Game 7 win over the the team in 2017, which had an audience of 28.3 million.

The figure was 10% over the last decisive game seven World Series game in 2019, when the Washington Nationals defeated the Astros.

The battle on Saturday will go down as one of the most memorable games in World Series history, with a number of spectacular plays in the field and a dramatic go-ahead home run by Dodgers catcher Will Smith.

Dodgers pitcher Yoshinobu Yamamoto won his third game of the series with his strong relief outing, earning him the Most Valuable Player Award for the series.

The audience level peaked between 8:30 and 8:45 p.m. Pacific, with 31.5 million viewers tuned in.

The Dodgers became the first Major League Baseball team to win back-to-back championships in 25 years.

DEL MAR — Sometimes the toughest part of owning a horse is deciding what to name it. If you own a bunch of horses, you run out of logical names pretty quickly. You can only do a play on the sire’s name so many times. And if you name it after a living person, you need permission from that person.

But every once in a while happenstance is your guide.

Ned Toffey has been the general manager of Spendthrift Farm for 21 years. Spendthrift saw an Into Mischief colt it liked and bought the yet unnamed colt as a yearling for $650,000. Now the tough part, naming him.

Toffey had just completed an interview with a publication and it was trying to promote it on social media. The only problem is they got a couple of first letters transposed and sent out posted a message on X calling the longtime Spendthrift executive Ted Noffey. Innocent mistake. Once notified it was corrected but not before a few screenshots were taken.

John Velazquez smiles after riding Ted Noffey to victory in the Breeders’ Cup Juvenile horse race in Del Mar on Friday.

(Gregory Bull / Associated Press)

Noffey went with the joke.

Now people will remember that colt as the winner of the $2 million Breeders’ Cup Juvenile, pushing his name to the top of Kentucky Derby future pools.

His win wasn’t a surprise as he has won all four of his races, but none this prestigious on the first day of the two-day Breeders’ Cup held at Del Mar. All five of the races on Friday were worth no less than $1 million with nine more on Saturday.

Ted Noffey, the horse, was the favorite and was within a length of the lead all the way around the 1 1/16-mile race for 2-year-old males, winning by a length.

“It pretty much unfolded like we thought it would,” said trainer Todd Pletcher. “I’m just glad that he was able to keep finding more.”

Brant, the $3 million purchase for trainer Bob Baffert, went to the lead and was in front until the top of the stretch when Ted Noffey inched past and then kept going. He ended up winning by a length over Mr. A.P.

“I was happy with the trip, [Brant] just got tired,” Baffert said. “The lack of two turns caught up with him. He was beat by a real good horse, and they ran really fast. I think he will move up off this race.”

Brant finished third and Baffert’s other horse, Litmus Test, finished fourth. Ted Noffey was the favorite and paid $3.60 to win .

The other $2 million race, the Juvenile Fillies, was won by Super Corredora ($19.60 to win), whose last race was a maiden win, the only time this has happened in this race.

Southern California based John Sadler had to go 42 races before he won his first Breeders’ Cup race in 2018 when he won the Classic with Accelerate.

“My journey has been, there was a time when they’d say, he’s the best trainer that hasn’t won a Breeders’ Cup,” Sadler said. “They stopped asking that after Accelerate. So we’ve won quite a few of them now. So, I’m very pleased with that.

“And as you’re an older trainer, which I am at this point (he’s 69), these are the races you want to win. I think I hold most of the categories here at Del Mar, right behind Baffert—number of wins, number of stakes wins and money earned. The big days are especially rewarding.”

The 2-year-old filly led the entire 1 1/16 mile race and was the front half of a Southern California exacta with Baffert’s Explora finishing second. Hector Barrios was the jockey and it was his first Breeders’ Cup win with a three-quarters of a length victory.

The first race of the day, the $1 million Juvenile Turf Sprint, was won by Cy Fair ($12.00), a horse named after a high school in Texas and trained by George Weaver. Everyone gave Aidan O’Brien a good shot to win the five-furlong race since he had three horses in the race and his next win would give him 21, the most ever, breaking a tie with the late Wayne Lukas.

O’Brien had to wait for the last race of the day, the $1 million Juvenile Turf over one mile to pick up No. 21. Gstaad ($4.40) was the favorite and didn’t disappoint coming off the pace at the top of the stretch and winning by three-quarters of a length.

The other Breeders’ Cup race of the day, the $1 million Juvenile Fillies Turf, was won by Balantina ($43.20) by 1 ¼ lengths, the largest margin of the day. She came from well off the pace in the one mile race with a strong stretch drive for trainer Donnacha O’Brien, Aidan’s son.

The first day of the Breeders’ Cup is all 2-year-old races, but Saturday is where all the money is, $23 million in purses to be exact. It’s headed by the $7-million Classic, a 1¼ mile race for horses of any age or sex. The race, and the whole event, took a major blow when Sovereignty, the Kentucky Derby and Belmont Stakes winner and top-ranked horse in the country, was scratched after he spiked a fever early in the week. He was the 6-5 morning line favorite.

Everyone was looking forward to the rematch of Sovereignty and Journalism (5-1 adjusted odds), who finished one-two in both the Kentucky Derby and Belmont Stakes. McCarthy, who trains Journalism and owner Aron Wellman replaced jockey Umberto Rispoli after they didn’t like his ride in the Pacific Classic. Jose Ortiz picked up the mount.

“I think it’s unfortunate that Sovereignty is not in there but this is probably one of the best Classics we’ve seen in about 20 years,” McCarthy said. “We’ll bounce out of there and try and be tactical and try to be within four or five lengths of the lead.”

There should also be some interest in Fierceness (5-2), who won the Pacific Classic after a terrible break when he ducked near the rail breaking from the one. He drew the one for this race too.

“He’s got to break straight and establish the position he wants and run his race,” trainer Todd Pletcher said. “His best race gives him a big chance, if he can deliver that.”

Among others in the race are Santa Anita-based Baeza (10-1), who won the Pennsylvania Derby; Japanese horse Forever Young (7-2), winner of the Saudi Cup; last year’s winner Sierra Leone (7-2); and Nevada Beach (20-1) for Baffert and winner of the Los Alamitos Derby and the Goodwood Stakes at Santa Anita.

Another race to watch on Saturday is the $5-million Turf in which Rebel’s Romance is trying to become the first three-time winner of this race and the third horse to ever win three Breeders’ Cup races, joining Goldikova and Beholder.

Michaela Thompson, an unemployed mother in the San Fernando Valley, relies on federal assistance to afford the specialized baby formula her 15-month-old daughter needs because of a feeding disorder. At $47 for a five-day supply, it’s out of her reach otherwise.

But with the federal shutdown blocking upcoming disbursements of Supplemental Nutrition Assistance Program benefits — previously known as food stamps — Thompson said she doesn’t know how she’s going to fill her daughter’s bottles.

“It feels like the world is kind of crumbling right now,” she said. “I’m terrified for my family and my daughter.”

Millions of low-income families who rely on SNAP benefits to put food on the table in California and across the country — about 1 in 8 Americans — are confronting similar fears this week, as federal and state officials warn that November funds will not be issued without a resolution to the ongoing federal shutdown and Congress shows no sign of a breakthrough.

Gov. Gavin Newsom and state Atty. Gen. Rob Bonta announced Tuesday that California is joining other Democrat-led states in suing the Trump administration to force SNAP payments through the use of contingency funds, but the litigation — even if successful — won’t prevent all the disruptions.

Army Spc. Jazmine Contreras, center, and Pfc. Vivian Almaraz, right, of the 40th Division Sustainment Brigade, Army National Guard, Los Alamitos, help workers and volunteers pack boxes of produce at the Los Angeles Regional Food Bank on Friday.

(Allen J. Schaben / Los Angeles Times)

It is already too late for some of the 5.5 million California residents — including 2 million children — who rely on such benefits to receive them in time to buy groceries after Friday, when many will have already used up their October benefits, state officials said. Advocates warned of a tidal wave of need as home pantries and CalFresh cards run empty — which they said is no longer a risk but a certainty.

“We are past the point at which it is possible to prevent harm,” said Andrew Cheyne, managing director of public policy at the organization End Child Poverty California.

About 41.7 million Americans were served through SNAP per month in fiscal 2024, at an annual cost of nearly $100 billion, according to the U.S. Department of Agriculture.

State officials, local governments and nonprofit organizations are scrambling to get the word out to families and to redirect millions of dollars in emergency funding to stock more food at local food banks or load gift cards for the neediest families, but many say the capacity to respond is insufficient — and are bracing for a deluge of need.

“People really don’t understand the scale and scope of what is happening and the ripple effect it will have on the economy and with people just meeting their basic needs,” said Angela F. Williams, president and chief executive of United Way.

Already, United Way is seeing an uptick in calls to its 211 centers nationwide from people looking for help with groceries, utility bills and rent, Williams said. “There’s a critical crisis that has been brewing for a while, and it’s reaching a fevered pitch.”

Cheyne said many families are well aware of the looming disruption to aid and scrambling to prepare, including by going to state food banks for groceries. Newsom has activated the National Guard to help handle that influx in California.

However, Cheyne said many others will likely find out about the disruption while standing in grocery store checkouts.

“We anticipate a huge surge in people extremely upset to find out that they’ve literally shopped, and the groceries are in their cart, and their kids are probably with them, and then they get to the checkout, and then it’s, ‘transaction denied: insufficient funds.’”

Children and older people — who make up more than 63% of SNAP recipients in California — going hungry across America is a dire enough political spectacle that politicians of both parties have worked aggressively to prevent it in the past, including during previous government shutdowns. But this time around, they seem resigned to that outcome.

Members of the military and their families receive food donated by Feeding San Diego food bank on Friday.

(Sandy Huffaker / AFP / Getty Images)

Republicans and Democrats have been unable to reach a deal on the budget impasse as Democrats fight Republicans over their decision to slash healthcare subsidies relied on by millions of Americans. With no end in sight to the nearly month-long shutdown, federal workers who are either furloughed or working without pay — including many in California — are facing financial strain and increasingly showing up at food pantries, officials said.

A deluge of SNAP recipients will only add to the lines, and some food bank leaders are becoming increasingly worried about security at those facilities if they are overwhelmed by need.

Pointing fingers

In a statement posted to its website Monday, the Department of Agriculture wrote that Senate Democrats had repeatedly voted not to restore the SNAP funds by passing a short-term Republican spending measure.

“Bottom line, the well has run dry,” it said. “We are approaching an inflection point for Senate Democrats.”

The Trump administration had said Friday that it cannot legally dip into contingency funds to continue funding SNAP into November, even as it uses nontraditional means to pay for the salaries of active-duty military and federal law enforcement.

House Speaker Mike Johnson (R-La.) walks through Statuary Hall at the Capitol on Tuesday.

(Samuel Corum / Bloomberg / Getty Images)

The administration has used tariff revenue to temporarily fund the Women, Infants and Children Nutrition Program, which serves about 6.7 million women and children nationally, though it is unclear how long it will continue do so. The California Department of Public Health said the state WIC program, which supports about half of all babies born in California, should “remain fully operational through Nov. 30, assuming no unexpected changes.”

On Capitol Hill, negotiations to end the shutdown have mostly ground to a halt. Speaker Mike Johnson (R-La.) once again refused to call House members back into session this week, sparking criticism from Democrats and some Republicans who want to negotiate a deal to reopen the government. In the Senate, negotiations remain at a stalemate.

Senate Democrats, meanwhile, have relentlessly blamed President Trump and his administration for causing the disruption to food aid, just as they have blamed the president for the shutdown overall.

“Donald Trump has the power to ensure 40 million people don’t go hungry during the shutdown. But he wishes to inflict the maximum pain on those who can least afford it. He won’t fund food. But he’s happy to build a golden ballroom,” Sen. Adam Schiff (D-Calif.) wrote Monday on X.

Schiff was referring to a $250-million ballroom Trump has planned for the White House, which he recently set into motion by demolishing the historic East Wing.

A member of the U.S. Navy waits in line to receive food from volunteers with Feeding San Diego food bank.

(Sandy Huffanker / AFP / Getty Images)

State and local responses

States have responded to the looming cut in different ways. Some have promised to backfill SNAP funding from their own coffers, though federal officials have warned they will not be reimbursed.

Newsom has stood up the National Guard and directed tens of millions of dollars to state food banks, but has made no promises to directly supplement missing SNAP benefits with state dollars — despite advocacy groups calling on him to do so.

On Friday, dozens of organizations wrote a letter to Newsom and other state officials estimating the total amount of lapsed funding for November to be about $1.1 billion, and calling on them to use state funds to cover the total amount to prevent “a crisis of unthinkable magnitude.”

Carlos Marquez III, executive director of the County Welfare Directors Assn. of California, said counties and other local agencies are responding in a number of ways, including making contributions to local food banks and looking for ways to redirect local funds — and find matching philanthropic dollars — to directly backfill missing SNAP benefits.

Los Angeles County, which has about 1.5 million SNAP recipients, has already approved a $10-million expenditure to support local food banks, its Department of Children and Family Services has identified an additional $2 million to redirect, and its partners providing managed care plans to SNAP recipients have committed another $5 million, he said.

He said his group has advocated for Newsom to declare a statewide emergency, which would help equalize the response statewide and allow for mutual aid agreements between wealthier and poorer areas.

He said his group also is advocating for the state to begin using school lunch programs to direct additional food to families with younger children at home, and to work with local senior care facilities to make sure elderly SNAP recipients are also being helped.

What comes next?

Williams, of United Way, said the organization’s local chapters are “looking for partners on the ground” to provide additional support moving forward, as needs will persist.

“It seems like every day the needs just become more and more pressing, and I’m concerned, honestly, not only about the economic toll that is being taken on individuals, I’m concerned about the mental health and emotional toll this is taking on people,” Williams said. “My hope is that people from all sectors will step up and say, ‘How can we be good neighbors?’”

On Friday, National Guard troops began a 30-day deployment at the Los Angeles Regional Food Bank, where they are sorting produce and packing food boxes. Due to “heightened concern” in the community about the military’s role in Trump’s immigration crackdown, the troops will be working in warehouses and not interacting directly with the public, said Chief Executive Michael Flood.

Flood said there has already been a surge in demand from laid-off federal workers in Los Angeles, but he’s expecting demand to increase markedly beginning Saturday, and building up distribution capacity similar to what was in place during the height of the COVID-19 pandemic — which seemed odd, considering “this is a man-made disaster.”

“It doesn’t have to happen,” Flood said. “Folks in D.C. can prevent this from happening.”

SACRAMENTO — Top California health officials warned that federal cuts will deliver a devastating blow to public health, even as the state grapples with ways to mitigate the damage.

“These changes will impact our emergency departments, rural hospitals, private and public hospitals, community health centers, ambulance providers and the broader health care system that serves every community,” said Michelle Baass, director of the California Department of Health Care Services.

Baass was among several experts who spoke Monday at a briefing about the effects of HR 1, a massive tax and spending bill passed by the Republican-led Congress and signed by President Trump that shifts federal funding away from safety-net programs for the vulnerable and toward tax cuts and immigration enforcement. She said the legislation makes sweeping changes to Medi-Cal, as Medicaid is known in California.

It “will cause widespread harm by making massive reductions in federal funding and potentially cripple the health care safety net,” Baass said. “These changes put tens of billions of dollars of federal funding at risk for California and could result in a loss of coverage for millions of Californians.”

Roughly 15 million Californians — a third of the state — are on Medi-Cal, with some of the highest percentages being in rural counties. More than half of the children in California receive healthcare coverage through Medi-Cal, healthcare coverage provided to eligible, low-income residents, according to the state Department of Health Care Services.

California officials expect the state to lose billions of dollars in federal funding for Medi-Cal and other essential healthcare programs. Given that California is facing an ongoing budget deficit, it is highly unlikely that the state will be able to raise enough money to make up for the loss in funding to continue the current level of services to residents, according to a report by the state Legislative Analyst’s Office.

Baass explained the federal legislation creates new eligibility requirements for Medicaid. Starting in 2027, many individuals ages 19 to 64 will need to work for at least 80 hours a month, or perform 80 hours of community service or be enrolled in an educational program, to qualify. The law allows various exemptions, including pregnancy, disabilities, or caring for children under the age of 19.

She estimated 3 million Medi-Cal recipients could lose coverage as a result.

“This would significantly drive up the uninsured rate that raises cost for hospitals treating uninsured patients,” Baass said.

Baass said HR 1, which Republicans labeled the “Big, Beautiful Bill,” also bans abortion providers from receiving federal Medicaid funding — even for healthcare services they offer that are not related to the procedure — and reduces federal dollars for emergency medical care for undocumented immigrants. It additionally limits state funding mechanisms, such as taxes paid by managed care providers, and establishes federal penalties for improper payments.

CalFresh, the state name for the Supplemental Nutrition Assistance Program, is expecting cuts of at least $1.7 billion annually, said Jennifer Troia, director of the California Department of Social Services. About 395,000 people could lose their benefits for government food assistance.

SNAP benefits are also being hit by the current government shutdown, with payments halting in November.

At the heart of the shutdown is a political standoff in Washington over the expiring tax credits for people who get health insurance through the Affordable Care Act, also known as Obamacare. Democrats said they will not vote to reopen the government until Republicans agree to renew the expanded subsidies. Republican leaders refused to negotiate until Democrats vote to reopen the government.

Covered California, the state’s Affordable Care Act health insurance marketplace, estimated over the summer that as many as 660,000 of the roughly 2 million people in the program will either be stripped of coverage or drop out because of increased cost and the onerous new mandates to stay enrolled.

Impacts from the new federal cuts and policies are already being felt across the state and nation.

A Planned Parenthood program in Orange and San Bernardino counties announced its imminent closure earlier this month due to being federally defunded. Los Angeles County’s health system has implemented a hiring freeze and is bracing to lose $750 million per year for the county Department of Health Services, which oversees four public hospitals and roughly two dozen clinics. Meanwhile, food banks nationwide are seeking donations and preparing for longer lines.

Kim Johnson, secretary of the state Health and Human Services Agency, discussed how California is fighting back.

Gov. Gavin Newsom recently announced he is deploying the National Guard and fast-tracking $80 million to support food banks, she said. This came alongside the governor’s decision to allocate $140 million in state funding to Planned Parenthood.

Johnson said Atty. Gen. Rob Bonta has filed more than two dozen lawsuits related to HR 1.

“Here in California,” she said, “we will continue to mitigate the harm of these federal changes wherever we can.”

ONE of the UK’s most popular Christmas markets is getting some new additions for families this year.

Newcastle Christmas Market welcomed 1.7million tourists last year, and spreads across the city centre, including Old Eldon Square.

Throughout the streets, visitors can usually find a number of stalls with local traders selling food, drinks and gifts.

And for this year, the festive event will be getting three new attractions.

The first is Marshmallow Land – where visitors will be able to toast marshmallows over an open fire.

Then the second is a Festive Flix Area, where visitors can enjoy a cinema experience.

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There will be multiple screenings across from November 28 to December 23 with films such as Elf, Home Alone and Love Actually.

And finally, there will be a new Ferris wheel at Old Eldon Square, from November 15 to December 31.

The market will also extend onto Nelson Street this year, creating even more space for stalls, with a focus on fresh and festive produce.

The Christmas Village on Old Eldon Square – which launched last year – will return, with a family area and a number of festive activities for kids.

This area will also be where visitors can find the Rockin’ Reindeer stage with shows and Santa Stories inside a tipi, with Santa himself.

Other attractions at the market returning for 2025 include the North Pole Terrace, where visitors can book igloos that surround Monument.

Alternatively, you could head to Moosenwirt – an alpine Christmas pop-up bar.

Families can even visit Mrs Claus’ Bakery to participate in a workshop.

In the surrounding area, there are even more Christmas events to explore including an ice rink at the Life Sciences Centre, from £15.50 per person.

Or head to Leazes Park to explore the Northern Lights light trail, from £15 per person.

Stephen Patterson, chief executive of NE1 Ltd said: “It has long been our aim to put Newcastle on the festive map, enhancing its offer and making it a must-visit destination for festive fun seekers from near and far.

“Festive markets and seasonal activities are more than just celebrations, they’re powerful tools to increase visitor numbers and footfall into the city centre, boosting business over the crucial Christmas period.”

Newcastle’s Christmas markets will run from November 15 to December 23.

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If you are looking for more Christmas markets across the UK to visit, then here are the prettiest Christmas markets in Britain – with hotel stays from £37.

Plus, there’s a one-of-a-kind tropical Christmas market in England with 35C temps – and it doesn’t matter if it rains.

U.S. Transportation Secretary Sean Duffy warned Sunday that he’s about to make good on a threat to revoke millions in federal funds for California because he says the state is illegally issuing commercial driver’s licenses to noncitizens.

In an appearance on Fox News Channel’s “Sunday Morning Futures” Duffy said California Gov. Gavin Newsom has refused to comply with U.S. Department of Transportation rules that require the state to stop issuing such licenses and review those already issued.

“So, one, I’m about to pull $160 million from California,” Duffy said. “And, as we pull more money, we also have the option of pulling California’s ability to issue commercial driver’s licenses.”

Newsom’s press office did not immediately respond to an email seeking comment on the matter Sunday, but California has defended its practices previously. When Duffy threatened to revoke funds last month, a spokesperson for the governor dismissed the attack and noted that commercial license holders from California have a significantly lower rate of crashes than the national average and the Texas average, which is the only state with more licensed commercial drivers.

Last month, the Transportation Department tightened commercial driver’s license requirements for noncitizens after three fatal crashes that officials said were caused by immigrant truck drivers. Only three specific classes of visa holders will be eligible for CDLs under the new rules and states must verify an applicant’s immigration status in a federal database. The licenses will be valid for up to one year unless the applicant’s visa expires sooner.

Duffy said last month that California should never have issued 25% of 145 licenses investigators reviewed. He cited four California licenses that remained valid after the driver’s work permit expired — sometimes years after. The state had 30 days to come up with a plan to comply or lose funding.

A nationwide commercial driver’s license audit began after officials say a driver in the country illegally made a U-turn and caused a crash in Florida that killed three people. The audit found licenses that were issued improperly in California, Colorado, Pennsylvania, South Dakota, Texas and Washington.

Duffy said Sunday that California has unlawfully issued tens of thousands of these licenses to noncitizens.

“So you have 60,000 people on the roads who shouldn’t have licenses,” Duffy said. “They’re driving fuel tankers, they’re driving school buses, and we have seen some of the crashes on American roadways that come from these people who shouldn’t have these licenses.”

Duffy said earlier this month that he would withhold $40 million from California because it is the only state that is failing to enforce English language requirements for truckers. California defended its practices in a formal response to the Transportation Department, but federal officials were not satisfied.

The investigation launched after the Florida crash found what Duffy called significant failures in the way California is enforcing rules that took effect in June after one of President Trump’s executive orders. California had issued the driver a commercial license, but these English rules predate the crash.

Good morning, and welcome to L.A. on the Record — our City Hall newsletter. It’s Rebecca Ellis, with an assist from David Zahniser, Noah Goldberg and Matt Hamilton, giving you the latest on city and county government.

There is no shortage of budget-busting costs facing Los Angeles County, Supervisor Lindsey Horvath recently told guests at this week’s Los Angeles Current Affairs Forum luncheon.

There’s the costly fire recovery effort. And the deep cuts from the federal government. And a continuing homeless crisis.

As Horvath wrapped up her remarks, Emma Schafer, the host of the clubby luncheon, asked about yet another expenditure: What was up with that $2-million settlement to the county’s chief executive officer Fesia Davenport?

“We were faced with two bad options,” Horvath told the crowd dining on skewered shrimp.

Horvath said she disagreed with Davenport’s demand for $2 million, but also believed “that we have to focus on a functional county government and saving taxpayer money.”

Three months ago, all five supervisors quietly voted behind closed doors to pay Davenport $2 million, after she sought damages due to professional fallout from Measure G, the voter-approved ballot measure that will eventually eliminate her job.

Measure G, which voters passed in November, reshaped the government, in part, turning the county’s chief executive into an elected position — not one selected by the board. The elected county executive, who would manage the county government and oversee its budget, will be in place by 2028. Davenport, a longtime county employee, had been in her post since 2021.

Davenport, as part of her financial demand, said Measure G caused her “reputational harm, embarrassment, and physical, emotional and mental distress.”

Critics contend unpleasant job changes happen all the time — and without the employee securing a multimillion dollar payout.

“Los Angeles County residents should be outraged,” said Morgan Miller, who worked on the Measure G campaign and called the board’s decision a “blatant misuse of public money.”

Horvath, who crafted Measure G, promised during the campaign it would not cost taxpayers additional money. More recently, she voiced dissatisfaction with Davenport’s settlement, saying the agreement should have had additional language to avoid “future risk.”

Horvath said in a statement she considered having the settlement agreement include language to have Davenport and the county part ways — to avoid the risk of litigating additional claims down the road.

Supervisor Janice Hahn, who pushed for Measure G alongside Horvath, said she voted for the settlement based on the advice of county lawyers.

“In the years I worked to expand the board and create an elected county executive, I never disparaged our current CEO in any way,” she said in a statement. “I always envisioned the CEO team working alongside the new elected county executive.”

Davenport has been on medical leave since earlier this month and did not return a request for comment. She has told the staff she plans to return at the start of next year.

It’s not unusual for county department heads to get large payouts. But they usually get them when they’re on their way out.

Bobby Cagle, the former Department of Children and Family Services head who resigned in 2021, received $175,301. Former county counsel Rodrigo Castro-Silva got $213,199. Adolfo Gonzales, the former probation head, took in $172,521. Mary Wickham, the former county counsel, received $449,577.

The county said those severance payments, all of which were obtained through a records request by The Times, were outlined in the department heads’ contracts and therefore did not need to be voted on by the board.

Sachi Hamai, Davenport’s predecessor, also received $1.5 million after saying she faced “unrelenting and brutal” harassment from former Sheriff Alex Villanueva.

Davenport’s settlement was voted on, but not made public, until an inquiry from LAist, which first reported on the settlement.

David Loy, legal director for the First Amendment Coalition, says the county is required under the Brown Act to immediately report out a vote taken on a settlement if the deal is finalized and all parties have approved it. But if it’s not, he says, they don’t need to publicly report it — they just need to provide information when asked.

“You don’t have to proactively report it out in that meeting. You still have to disclose it on request,” said Loy. “ I don’t think that’s a good thing — don’t get me wrong. I’m telling you what the Brown Act says.”

State of play

— DEMANDING DOCUMENTS: Two U.S. senators intensified their investigation into the Palisades fire this week, asking the city for an enormous trove of records on Fire Department staffing, reservoir repairs and other issues. In their letter to Council President Marqueece Harris-Dawson, Sens. Rick Scott (R-Fla.) and Ron Johnson (R-Wis.) showed much less interest in the Eaton fire, which devastated Altadena but did not burn in the city of Los Angeles. An aide to County Supervisor Kathryn Barger, who represents Altadena, said neither she nor other county offices had received such a document request.

— BUMPY BEGINNING: The campaign of City Council candidate Jose Ugarte is off to a rocky start. Ugarte, who is backed by his boss, Councilmember Curren Price, recently agreed to pay a $17,500 fine from the Ethics Commission for failing to mention his outside consulting work on his financial disclosure forms, But on Wednesday, two ethics commissioners blocked the deal, saying they think his fine should be bigger. (Ugarte has called the violation “an unintentional clerical error.”) Stay tuned!

— A NEW CHIEF: Mayor Karen Bass announced Friday that she has selected Jaime Moore, a 30-year LAFD veteran, to serve as the city’s newest fire chief. He comes to the department as it grapples with the continuing fallout over the city’s response to Palisades fire.

— LAWSUIT EN ROUTE: Meanwhile, the head of the city’s firefighter union has accused Bass of retaliating against him after he publicly voiced alarm over department staffing during the January fires. Freddy Escobar, president of United Firefighters of Los Angeles City Local 112, said he’s preparing a lawsuit against the city. Escobar was suspended from his union position earlier this year, after an audit found that more than 70% of the transactions he made on his union credit card had no supporting documentation.

— HE’S BACK! (KINDA): Former Mayor Eric Garcetti returned to City Hall for the first time since leaving office in 2022, appearing alongside Councilmember Nithya Raman in the council chamber for a celebration of Diwali, the Hindu Festival of Lights. Garcetti, a former U.S. ambassador to India, described Diwali as a “reawakening,” saying it may be “the longest continuous human holiday on earth.”

— GENERATIONS OF GALPIN: The San Fernando Valley auto dealership known as Galpin Motors has had a long history with the Los Angeles Board of Police Commissioners, the civilian oversight panel at the LAPD. On Wednesday, the council approved the nomination of Galpin vice president Jeffrey Skobin, to serve on the commission — making him the third executive with the dealership to serve over the past 40 years.

— AIRPORT OVERHAUL: Los Angeles World Airports is temporarily closing Terminal 5 at Los Angeles International Airport, carrying out a “complete demolition” and renovation of the space in the run-up to the 2028 Olympic and Paralympic Games. During construction, JetBlue will be operating out of Terminal 1, Spirit shifts to Terminal 2 and American Airlines lands in Terminal 4, the airport agency said.

— OUT THE DOOR: Two of the five citizen commissioners who oversee the Department of Water and Power have submitted their resignations. DWP Commissioner George McGraw, appointed by Bass two years ago, told The Times he’d been laying the groundwork for a departure for six months. McGraw said he found he could no longer balance the needs of the commission, where he sometimes put in 30 to 40 hours per week, with the other parts of his life. “I needed extra capacity,” he said.

— NO MORE MIA: DWP Commissioner Mia Lehrer was a little more blunt, telling Bass in her Sept. 29 resignation letter that her stint on the board was negatively affecting her work at Studio-MLA, her L.A.-based design studio. Lehrer said the firm has been disqualified from city projects based on “misinterpretations” of her role on the commission.

“As a result, I am experiencing unanticipated limitations on my professional opportunities that were neither expected nor justified under existing ethical frameworks,” she wrote. “These constraints not only affect my own business endeavors but also carry significant consequences for the forty-five professional and their families who rely on the continued success of our work.”

QUICK HITS

• Where is Inside Safe? The mayor’s signature program to address homelessness went to Cotner Avenue near the 405 Freeway in Councilmember Katy Yaroslavsky’s Westside district.
• On the docket next week: The board votes Tuesday on an $828-million payout to victims who say they were sexually abused in county facilities as children. The vote comes months after agreeing to the largest sex abuse settlement in U.S. history.

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.

California welfare recipients using state-issued debit cards withdrew more than $1.8 million in taxpayer cash on casino floors between October 2009 and last month, state officials said Thursday.

Gov. Arnold Schwarzenegger issued an executive order requiring welfare recipients to promise they will use cash benefits only to “meet the basic subsistence needs” of their families. The order also gave the state Department of Social Services seven days to produce a plan to reduce other types of “waste, fraud and abuse” in the welfare program.

The moves came after The Times reported Wednesday that officials at the department failed to notice for years that welfare recipients could use the state-issued cards to withdraw taxpayer cash at more than half of the tribal casinos and state-licensed poker rooms in California. The state initiated the debit card program in 2002.

Casino withdrawals, which represented far less than 1% of total welfare spending during the eight months for which the department released data, averaged just over $227,392 a month.

Schwarzenegger has already ordered the vendor that runs the state welfare system’s ATM network to prohibit the cards from working at casino machines. Republican lawmakers are now calling on the administration to track down the people who withdrew cash at gaming centers and recover the money.

“I’d say that $227,000 per month is an astounding waste of taxpayer dollars,” said Seth Unger, spokesman for Assembly Republican Leader Martin Garrick of Solana Beach. “To me it is absolutely clear that the department failed in its duty to provide oversight. We should explore all options to get the money back.”

The electronic benefit transfer cards allow welfare recipients to access two accounts: cash offered through the Temporary Assistance for Needy Families program and an electronic version of food stamps, which comes with strict rules governing how the money can be spent.

The cash benefits, however, can be withdrawn and spent just about anywhere. A Times review of state records found that the cards work at ATMs in 32 of 58 tribal casinos and 47 of 90 state-licensed poker rooms.

Most of the ATMs impose a withdrawal limit of about $300 a day. The monthly cash grant for a family of three ranges up to $694, while families with more than 10 people can get as much as $1,469, documents from the Social Services Department show.

Some Assembly Republicans called Thursday for assurances that welfare recipients can’t access ATMs at other “seedy” businesses. “If they’re going to shut down … the casinos, why not also shut down the ATMs at liquor stores and bars?” Unger asked.

Schwarzenegger spokesman Aaron McLear said the point of the executive order was to force the department to examine the program for all manner of abuse, but did not specify any other kinds of businesses that might be weeded out of the network. “We’re going to eliminate any waste, fraud and abuse that makes sense to eliminate,” he said.

Democrats, who have been fighting to preserve the state’s fraying social safety net in the face of a $19-billion budget gap, angrily rejected a Schwarzenegger proposal last month to eliminate the cash portion of welfare.

That was before anyone in Sacramento realized the money could be withdrawn by someone strolling from a poker game to a blackjack table.

Democratic leaders steered away from specifics while discussing calls for reform.

“We will conduct timely legislative oversight,” said Senate President Pro Tem Darrell Steinberg (D-Sacramento). “We want to make sure all families are spending the money on the children it’s intended to serve.”

[email protected]

WASHINGTON — Construction started this week on the $250 million ballroom that President Trump is adding to the White House as construction crews began tearing down the facade of the East Wing, where the new space is being built.

The Republican president and top White House officials had initially said nothing would be demolished during construction.

The 90,000-square-foot ballroom will dwarf the main White House itself, at nearly double the size, and Trump says it will accommodate 999 people.

Trump said on social media that the ballroom won’t cost taxpayers a dime because it is being privately funded by “many generous Patriots, Great American Companies, and, yours truly.”

Here are some things to know about the newest White House construction project:

Why is Trump building a ballroom?

Trump says the White House needs a large entertaining space and has complained that the East Room, the current largest space in the White House, is too small, holding about 200 people. He has frowned on the past practice of presidents hosting state dinners and other large events in tents on the South Lawn.

Who is paying the $250 million construction tab?

Trump says the project will be paid for with private donations and that no public money will be spent on the ballroom. The White House promised to release information on which individuals and corporations have pledged or donated money and invited some of the donors to an East Room dinner last week, but has not released a comprehensive list and breakdown of funds.

Some $22 million for the project came from YouTube, a Google subsidiary, as part of a recent settlement for a 2021 lawsuit Trump brought against the company.

The White House also has not said how much of his own money Trump is contributing.

Why tear down part of the East Wing to build the ballroom?

The East Wing is traditionally the social side of the White House and sits across East Executive Avenue from the Treasury Department. It’s where tourists and other guests enter for events.

The president and his chief spokesperson, Karoline Leavitt, said over the summer that the White House itself would remain intact as the ballroom was going up.

“It’ll be near it but not touching it,” Trump said. “Nothing will be torn down,” Leavitt added.

That turned out not to be the case.

The White House said some demolition was needed because the East Wing, the traditional home for the first lady and her staff, is being modernized as part of the ballroom project.

Can Trump build a ballroom?

He’s moving ahead with construction despite the lack of sign-off from the National Capital Planning Commission, the executive branch agency that has jurisdiction over construction and major renovations to government buildings in the region.

Trump named a top White House aide, Will Scharf, to head the commission. Scharf has made a distinction between demolition work and rebuilding, saying the commission was only required to vet the latter.

What happens to the East Room?

By Trump’s telling, it will become a space where guests will mingle, sip cocktails and eat hors d’oeuvres until they are called into the ballroom for dinner. Trump said a set of windows in the room will be removed to create a passageway to and from the ballroom.

What will the new ballroom look like?

Renderings released by the White House suggest a strong resemblance to the gilded ballroom at Mar-a-Lago, Trump’s private club and home in Palm Beach, Florida.

The project also has grown in size since it was announced, going from accommodating 650 seated guests to holding 999 people, big enough to fit an inauguration if needed, he said at a recent White House dinner for donors. Windows will be bulletproof, he said.

When will the ballroom be completed?

The White House has said the ballroom will be ready for use before Trump’s second term ends in January 2029, an ambitious timeline.

Has Trump made other changes to the White House?

Yes. He has heavily redecorated the Oval Office by adding numerous portraits, busts and gold-toned adornments. He converted the Rose Garden into a stone-covered patio, installed towering flagpoles on the north and south lawns, and decorated an exterior wall with portraits of every president except his immediate predecessor, Democrat Joe Biden.

Trump also said he renovated the bathroom in the famous Lincoln Bedroom in the private living quarters and laid down marble floors in a passageway leading to the South Lawn.

How has construction changed the White House over the years?

Presidents have added to the White House since construction began in 1792 for a host of reasons, and Trump aides say his decision to build a ballroom follows that long tradition.

Many of the prior projects were criticized as being too costly or too lavish, but eventually came to be accepted, according to the White House Historical Association.

Thomas Jefferson added the east and west colonnades.

Andrew Jackson built the North Portico on the Pennsylvania Avenue side of the White House, aligning with the South Portico that James Monroe added after the original mansion was rebuilt after the British burned it during the War of 1812.

Theodore Roosevelt added the West Wing to provide dedicated space for the president and key staff, while Franklin D. Roosevelt added the East Wing, which over time became the home base for the first lady’s staff and social functions.

One of the most significant White House renovations happened under Harry Truman, when the mansion was found to be so structurally unsound that he ordered a complete gutting of the interior that lasted from 1948 to 1952. The project, including Truman’s addition of a balcony to the second floor of the South Portico, was highly controversial.

Other changes include the creation of the Rose Garden during John F. Kennedy’s administration and Richard Nixon’s decision to convert an indoor swimming pool that was built for FDR’s physical therapy into a workspace for the growing White House press corps.

Superville writes for the Associated Press.

RAPPER Nelly was accused of taking writer credit on song he didn’t write on his hit albums Country Grammar and Nellyville in a massive $10 million lawsuit. 

The U.S. Sun can exclusively reveal that the Hot In Herre artist was sued in federal court in May after a lawsuit was initially lobbed at him in a local Missouri court in 2024. 

Production company D2 filed an amended complaint against Nelly, 50, in August. 

The suit read “D2 is a production company started in a local community skating rink by twin brothers Darren Stith and David Stith.

“D2 was known for developing producers and talents and giving them an opportunity to further their art and careers.”

The brothers claimed: “They were directly responsible for finding, nurturing, and bringing to the public the music of Nelly and the group known as the ‘St. Lunatics.’”

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St. Lunatics was made up of Nelly, Ali Jones, Torri Harper, Robert Kyjuan Cleveland  and Lavell Webb, aka City Spud.

In the suit, D2 alleged that they had a contract with both Nelly and the St. Lunatics, separately, but that they released the Ride Wit Me rapper from his contract with them in June of 2000, with a $75,000 payment.

D2 claimed that Nelly, in a secret agreement, claimed a writer credit on songs that weren’t written by him, and were actually written with the St. Lunatics, which made it so the artists were able to avoid paying D2 royalties on those songs.

“The Songs, which were included on the Country Grammar and Nellyville albums, sold over twenty million copies.

“D2 was never paid its portion of the revenues that were legally due to D2 under Lunatic Agreements with Harper, Cleveland, and Jones (and then the Publishing Agreement), but went to Nelly instead under the Secret Arrangement,” the suit went on to allege. 

Nelly and the St. Lunatics are being sued by D2 for more than $10,000,000 for breach of contract, fraud, conspiracy and breach of good faith and fair dealing. 

D2 is also suing Nelly specifically for tortious interference, which essentially means the rapper putrposely interfered with D2’s business. 

The suit said the Air Force One’s rapper “intentionally induced, and caused an interruption of D2’s contractual relationship with, and its business expectancy with, Harper, Cleveland, and Jones, by proposing, negotiating, entering into, and implementing the Secret Arrangement.

“Nelly knew or should have known that his actions would interfere with the Lunatic Agreements and cause D2 to lose revenue it was entitled to receive from the Songs pursuant to the Lunatic Agreements, and later, through the Publishing Agreement,” the suit claimed. 

In September, Nelly, along with Cleveland and Harper, attempted to get the suit dismissed. 

The case is ongoing. 

Earlier this week, Nelly’s wife, Ashanti, was seen sporting a bathing suit on a trip to Barbados just after her 45th birthday on October 13.

Nelly was not seen during the outing, though their child, Kareem Kenkaide ‘KK’ Haynes, was with her for the trip.

She and Nelly welcomed their son in July of last year. 

ON SCREEN

Recently, Nelly and Ashanti landed their own reality series after splitting up and later reuniting.

The pair dated on and off for 10 years after first getting together in 2003, but thought their 2013 breakup was final.

However, they surprised fans by getting back together a decade later. 

Wasting no time, Nelly and Ashanti tied the knot just three months after making their reunion public. 

The trailer for Nelly & Ashanti: We Belong Together was released ahead of the show’s premiere in June.

Fans quickly took to the comments on the first-look, with one saying, “This is the show I never knew I needed.”

Another wrote: “We’re all rooting for you, Nelly and Ashanti!”

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A third added: “So here for these two being happy and in love.”

The show’s debut came just hours after The Sun exclusively revealed the truth behind rumors that Nelly had cheated on Ashanti.

WASHINGTON — President Trump said Tuesday that the federal government owes him “a lot of money” for prior Justice Department investigations into his actions and insisted he would have the ultimate say on any payout because any decision will “have to go across my desk.”

Trump’s comments to reporters at the White House came in response to questions about a New York Times story that said he had filed administrative claims before being reelected seeking roughly $230 million in damages related to the FBI’s 2022 search of his Mar-a-Lago property for classified documents and for a separate investigation into potential ties between Russia and his 2016 presidential campaign.

Trump said Tuesday he did not know the dollar figures involved and suggested he had not spoken to officials about it. But, he added, “All I know is that, they would owe me a lot of money.”

Though the Justice Department has a protocol for reviewing such claims, Trump asserted, “It’s interesting, ‘cause I’m the one that makes the decision, right?”

“That decision would have to go across my desk,” he added.

He said he could donate any taxpayer money or use it to help pay for a ballroom he’s building at the White House.

The status of the claims and any negotiations over them within the Justice Department was not immediately clear. One of Trump’s lead defense lawyers in the Mar-a-Lago investigation, Todd Blanche, is now the deputy attorney general at the Justice Department. The current associate attorney general, Stanley Woodward, represented Trump’s valet and co-defendant, Walt Nauta, in the same case.

“In any circumstance, all officials at the Department of Justice follow the guidance of career ethics officials,” a Justice Department spokesperson said. A White House spokesperson referred comment to the Justice Department.

Trump signaled his interest in compensation during a White House appearance last week with Blanche, FBI Director Kash Patel and Atty. Gen. Pam Bondi, who was part of Trump’s legal team during one of the impeachment cases against him.

“I have a lawsuit that was doing very well, and when I became president, I said: ‘I’m suing myself. I don’t know. How do you settle the lawsuit?’” he said. ”I’ll say, ‘Give me X dollars,’ and I don’t know what to do with the lawsuit. It’s a great lawsuit and now I won, it looks bad. I’m suing myself, so I don’t know.”

The Times said the two claims were filed with the Justice Department as part of a process that seeks to resolve federal complaints through settlements and avert litigation.

One of the administrative claims, filed in August 2024 and reviewed by the Associated Press, seeks compensatory and punitive damages over the search of his Mar-a-Lago estate and the resulting case alleging he hoarded classified documents and thwarted government efforts to retrieve them.

His lawyer who filed the claim alleged the case was a “malicious prosecution” carried out by the Biden administration to hurt Trump’s bid to reclaim the White House, forcing Trump to spend tens of millions of dollars in his defense.

That investigation produced criminal charges that Justice Department special counsel Jack Smith abandoned last November because of department policy against the indictment of a sitting president.

The Times said the other complaint seeks damages related to the long-concluded Trump-Russia investigation, which continues to infuriate the president.

What happened

According to a Securities and Exchange Commission (SEC) filing dated October 15, 2025, Harbor Capital Advisors reduced its position in F5, Inc. (FFIV -0.88%) by 51,177 shares in Q3 2025. The estimated trade value was $16.02 million in Q3 2025. After the sale, Harbor Capital Advisors reported holding 17,112 shares, valued at $5.53 million as of September 30, 2025.

What else to know

This was a sell; the post-trade stake is 0.43% of Harbor Capital Advisors’ 13F reportable AUM in Q3 2025

Top five holdings after the filing:

IVV: $49,147,000 (3.8% of AUM on September 30, 2025)

EEM: $38,429,000 (3.0% of AUM on September 30, 2025)

EFA: $28.28 million (2.2% of AUM on September 30, 2025)

NVDA: $27,224,000 (2.1% of AUM on September 30, 2025)

GOOGL: $26,539,000 (2.1% of AUM on September 30, 2025)

On October 14, 2025, F5 shares were priced at $343.17, up 56.39% year-over-year on October 14, 2025, outperforming the S&P 500 by 39.89 percentage points over the one-year period ending October 14, 2025.

The fund reported 1,339 total positions and $1.29 billion in U.S. equity AUM in Q3 2025.

Company overview

Company snapshot

Provides multi-cloud application security and delivery products, including BIG-IP appliances, NGINX software, DDoS protection, and fraud prevention solutions.

Generates revenue from sales of software, hardware, and related services.

Serves large enterprises, public sector institutions, governments, and service providers globally through direct sales and channel partners.

F5 is a leading provider of application security and delivery solutions, enabling organizations to secure, optimize, and manage applications across on-premises and cloud environments. The company leverages a diverse portfolio of hardware and software offerings to address complex security and performance requirements for mission-critical applications. With a global customer base and partnerships with major cloud providers, F5 delivers application security and delivery solutions.

Foolish take

Before Harbor Capital Advisors sold most of its F5 stake during the third quarter, it was the firm’s ninth largest holding and worth about 0.8% of the total portfolio. From the end of the second quarter through the end of the third quarter this year, Harbor Capital’s portfolio shrank from $2.4 billion down to $1.3 billion.

Harbor Capital Advisors’ sale of F5 stock in the third quarter seems prescient. Shares of the cybersecurity business that aims to secure every application and its corresponding application programming interface (API) recently tanked.

On Oct. 15, F5, Inc. admitted in an SEC filing that unidentified threat actors broke into its systems and stole some important files. According to the company, the attackers are believed to have been in its network for at least 12 months. The stock is down by about 13% since Oct. 14.

F5 expects to report its fiscal fourth quarter results on Oct. 27, 2025, after the market closes.

Glossary

13F reportable AUM: Assets under management that must be reported quarterly to the SEC by institutional investment managers on Form 13F.
AUM (Assets Under Management): The total market value of investments managed on behalf of clients by a fund or institution.
Post-trade position: The number of shares or value of a holding remaining after a trade has been executed.
Stake: The proportion or amount of ownership an investor or fund holds in a particular company.
Top five holdings: The five largest investments in a fund’s portfolio, ranked by market value.
Outperforming: Achieving a higher return or growth rate compared to a benchmark or index over a specific period.
Channel partners: Third-party companies or organizations that help a business sell its products or services.
Multi-cloud: Using multiple cloud computing services from different providers within a single architecture or organization.
Direct sales: Sales made directly from the company to the customer, without intermediaries.
Mission-critical applications: Software or systems essential to the core function and operation of an organization.
DDoS protection: Security solutions designed to prevent or mitigate distributed denial-of-service attacks that disrupt online services.
TTM: The 12-month period ending with the most recent quarterly report.

Florida-based wealth advisory J. L. Bainbridge disclosed a purchase of Eli Lilly and Company valued at approximately $45.6 million for the quarter ended September 30, according to an SEC filing released on Friday.

What Happened

J. L. Bainbridge & Co. Inc. significantly increased its stake in Eli Lilly and Company (LLY -1.94%), acquiring 61,258 additional shares during the quarter. The estimated value of the purchase was $45.6 million based on the average closing price for the quarter. The position was reported in the firm’s quarterly Form 13-F filing with the Securities and Exchange Commission on Friday.

What Else to Know

This buy brings the position to 3.9% of J. L. Bainbridge & Co. Inc.’s 13F reportable assets.

Top holdings after the filing:

• NASDAQ:MSFT: $164.85 million (13.9% of AUM)
• NASDAQ:AAPL: $122.68 million (10.4% of AUM)
• NASDAQ:GOOGL: $116.65 million (9.9% of AUM)
• NYSE:GS: $71.43 million (6% of AUM)
• NYSE:ETN: $59.86 million (5.1% of AUM)

As of Friday’s market close, shares of Eli Lilly and Company were priced at $802.83, down 11% over the past year and far underperforming the S&P 500’s nearly 14% gain over the same period.

Company Overview

Company Snapshot

• Eli Lilly offers a broad portfolio of pharmaceuticals for diabetes, oncology, immunology, neuroscience, and other therapeutic areas, with leading products including Humalog, Trulicity, Jardiance, Verzenio, and Taltz.
• The company generates revenue primarily through the discovery, development, manufacturing, and global sale of branded prescription drugs, leveraging both proprietary research and strategic collaborations.
• It provides pharmaceuticals for chronic and complex diseases worldwide.

Eli Lilly and Company is a global pharmaceutical leader that maintains a diversified portfolio of innovative therapies for high-burden diseases. Its scale, established brands, and strategic partnerships provide competitive advantages in the rapidly evolving healthcare sector.

Foolish Take

Florida-based J.L. Bainbridge & Co. boosted its exposure to Eli Lilly last quarter, purchasing roughly $45.6 million worth of shares even as the stock has endured a difficult stretch. Shares are down 11% over the past year, pressured by valuation concerns and, most recently, political commentary on potential weight-loss drug price cuts. The decline followed remarks by President Donald Trump, who suggested GLP-1 treatments like Lilly’s Mounjaro and Zepbound could face price reductions—a move that briefly sent shares tumbling more than 4% on Friday.

Despite near-term volatility, Bainbridge’s purchase reflects long-term conviction in Lilly’s fundamentals. The pharmaceutical giant remains a dominant player in metabolic and diabetes care, with GLP-1 demand still far outpacing supply. Analysts at BMO Capital Markets called the recent selloff “overdone,” noting that most insured Americans already pay modest out-of-pocket costs for these drugs.

For Bainbridge, whose portfolio is anchored by Microsoft, Apple, and Alphabet, the addition of Lilly underscores a strategy centered on durable growth and innovation-led healthcare exposure. Long-term investors may see current weakness as a potential entry point into one of the most profitable franchises in global pharmaceuticals.

Glossary

Form 13-F: A quarterly SEC filing by institutional investment managers disclosing their equity holdings.
AUM (Assets Under Management): The total market value of investments managed on behalf of clients by a fund or firm.
Reportable AUM: Portion of a fund’s assets that must be disclosed in regulatory filings, such as the Form 13-F.
Top holdings: The largest investments in a fund, ranked by their value as a percentage of total assets.
Trailing twelve months (TTM): The 12-month period ending with the most recent quarterly report.
Stake: The ownership interest or position an investor holds in a company, usually measured in shares or percentage.
Strategic collaborations: Partnerships between companies to jointly develop, market, or distribute products or services.
Pharmaceutical portfolio: The collection of drugs and therapies a company develops, manufactures, and sells.
Underperforming: Delivering a lower return or performance compared to a benchmark or peer group.

Range Financial Group LLC fully exited its position in Fortinet (FTNT 0.45%), selling 29,944 shares for an estimated $3.2 million, according to an SEC filing dated Oct. 17.

The fund sold its entire position in Fortinet.

The position previously accounted for 1.2% of the fund’s AUM

What happened

According to a filing with the Securities and Exchange Commission dated October 17, 2025, Range Financial Group LLC sold its entire stake in Fortinet. The firm liquidated the 29,944 shares it held, with the estimated value of the transaction based on the quarterly average price totaling $3.2 million. The fund now holds no position in Fortinet.

What else to know

The fund sold out of Fortinet, reducing its exposure from 1.2% of AUM as of June 30, 2025 to zero

Top holdings after the filing:

NYSEMKT: GJAN: $13.9 million (5.0% of AUM) as of Sept. 30

NASDAQ: NVDA: $10 million (3.6% of AUM) as of Sept. 30

NASDAQ: STX: $7.7 million (2.8% of AUM) as of Sept. 30

NYSEMKT: SPLG: $7.2 million (2.6% of AUM) as of Sept. 30

NYSEMKT: PJAN: $7.1 million (2.6% of AUM) as of Sept. 30

Shares of Fortinet closed at $83.44 on Oct. 17, 2025, up 3.2% over the past year but underperforming the S&P 500’s total return by 12.4 percentage points

Company overview

Company snapshot

Fortinet, Inc. is a global provider of integrated cybersecurity solutions, offering a broad product portfolio and scalable security infrastructure. The company leverages a mix of proprietary hardware and software to deliver robust network protection and threat mitigation for enterprises of all sizes.

It serves a diverse global customer base across telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare sectors.

The company generates revenue primarily through hardware and software sales, security subscriptions, technical support, and professional services, leveraging a channel partner distribution model alongside direct sales.

Foolish take

Range Financial sold its entire position after adding shares during the second quarter. During the June 30 through Sept. 30 period, the fund boosted its share ownership from 2.7 million shares to nearly 3.2 million shares.

However, the share sale follows the market’s negative reaction following Fortinet’s second-quarter earnings release on Aug. 6, sending the share price down nearly 22% the following day.

The company reported a 14% revenue increase to over $1.6 billion, the high end of management’s quarterly guidance. The company also reported adjusted diluted earnings per share of $0.64, exceeding its budgeted figure. Management also raised its annual EPS guidance.

Nonetheless, investors focused on Fortinet’s announcement that it has completed 40% to 50% of its planned firewall upgrade cycle. The higher-than-expected figure led to concern that many customers have already upgraded, limiting future revenue growth. Several analysts downgraded their ratings following the announcement.

Glossary

AUM (Assets Under Management): The total market value of investments managed by a fund or investment firm.
Liquidated: Sold off an entire investment position, converting it to cash.
Exposure: The proportion of a portfolio invested in a particular asset, sector, or market.
Channel partner distribution model: A sales approach where products are sold through third-party partners rather than directly to customers.
Stake: The amount of ownership or shares held in a company or investment.
Quarterly average price: The average price of a security over a three-month reporting period.
Reportable U.S. equity assets: U.S. stock holdings that must be disclosed in regulatory filings.
TTM: The 12-month period ending with the most recent quarterly report.
Security subscriptions: Ongoing service contracts providing access to cybersecurity updates and support.
Centralized management: A system that allows control and monitoring of multiple devices or services from a single platform.
Endpoint protection: Security solutions designed to protect devices like computers and smartphones from cyber threats.
Threat mitigation: Actions or technologies used to reduce or prevent cybersecurity risks.

Joel R Mogy Investment Counsel (JMIC) disclosed in an October 16, 2025, SEC filing that it sold 20,929 Adobe shares during Q3 2025.

This was an estimated $7.51 million trade based on the average price for Q3 2025.

What happened

Joel R Mogy Investment Counsel reported a reduction in its position in Adobe (ADBE 1.30%), selling 20,929 shares during Q3 2025.

The estimated value of the sale, based on the average closing price for Q3 2025, was approximately $7.51 million.

The position now stands at 50,664 shares as of Q3 2025, according to the firm’s SEC Form 13-F filed on October 16, 2025.

What else to know

The fund’s post-sale Adobe stake represents 0.98% of its $1.83 billion reportable U.S. equity AUM as of September 30, 2025, down from 1.60% in the previous period

JMIC’s top holdings after the filing:

1. Nvidia: $257.28 million (14.1% of AUM) as of September 30, 2025
2. Alphabet: $158.37 million (8.68% of AUM) as of September 30, 2025
3. Apple: $155.49 million (8.52% of AUM) as of September 30, 2025
4. Microsoft: $148.56 million (8.14% of AUM) as of September 30, 2025
5. Costco Wholesale: $91.43 million (5.0% of AUM)

As of October 15, 2025, Adobe shares were priced at $330.63, marking a one-year decline of 34.9% and underperforming the S&P 500 by 49 percentage points.

Company Overview

Company Snapshot

Adobe offers software solutions, including Creative Cloud, Document Cloud, and a suite of digital experience and publishing tools; primary revenue is generated through recurring subscription services.

It operates a cloud-based, subscription-driven business model, selling directly to enterprises and end users as well as through a global partner network.

The company serves content creators, marketers, enterprises, and creative professionals across industries worldwide.

Adobe Inc. is a leading global software company specializing in creative, document, and digital experience solutions.

Foolish take

Joel R Mogy Investment Counsel (JMIC) had been steadily accumulating shares over the last few years, with the firm having a 2.5% portfolio allocation in Adobe just two years ago.

However, the company has sold shares of Adobe in the last two quarters — and heavily in its latest quarter.

With Adobe’s stock down 52% from its all-time high, it certainly seems as though JMIC is worried about the long-term future of the company.

Adobe has become an artificial intelligence (AI) battleground stock lately. The market seems torn as to whether the AI revolution will empower — or completely disrupt — the company’s creative operations.

For instance, OpenAI recently launched its Sora 2 model that lets users create short video clips from text. It doesn’t take a wild leap to imagine how this could directly hinder Adobe’s video editing and software businesses.

That said, Adobe has grown sales by 11% over the last year and is seeing the professional use cases for its video capabilities remain as robust as ever. Furthermore, the company has its Adobe Firefly unit, which is its own generative AI offering for creators — so it’s not exactly being blindsided by peers like OpenAI.

Trading at just 15 times free cash flow, Adobe could be a tremendous value investment at today’s price, but it looks like JMIC doesn’t want to risk waiting to find out if the company gets disrupted or not.

Glossary

AUM (Assets Under Management): The total market value of all investments managed by a fund or investment firm.
Form 13-F: A quarterly SEC filing by institutional investment managers disclosing their equity holdings.
Q3: The third quarter of a company’s fiscal year, typically covering July through September.
Reportable U.S. equity assets: U.S. stocks and related securities that must be disclosed in regulatory filings.
Top holdings: The largest individual investments in a fund’s portfolio, usually ranked by market value.
Stake: The ownership interest or number of shares a fund or investor holds in a company.
Subscription-driven business model: A model where customers pay recurring fees for ongoing access to products or services.
Global partner network: A group of companies or organizations worldwide that help distribute or sell a firm’s products.
TTM: The 12-month period ending with the most recent quarterly report.

On October 17, 2025, Nixon Peabody Trust Company disclosed in an SEC filing that it sold 25,734 shares of General Dynamics (GD 0.22%), an estimated $8.11 million trade.

What happened

According to a filing with the Securities and Exchange Commission dated October 17, 2025, Nixon Peabody Trust Company reduced its stake in General Dynamics by 25,734 shares during Q3 2025. The estimated transaction value, based on the quarter’s average price, was $8.11 million. The fund now reports holding 30,224 shares in General Dynamics, worth $10.31 million.

What else to know

This reduction brings the stake in General Dynamics to 0.75% of Nixon Peabody Trust Company’s 13F assets, as of Q3 2025. Previously, the position made up 1.26% of the fund’s AUM, as of Q2 2025.

Top five holdings after the filing:

• IDEV: $88.54 million (6.48% of AUM) as of September 30, 2025
• MSFT: $81.41 million (5.96% of AUM) as of September 30, 2025
• AVLV: $71.50 million (5.24% of AUM) as of September 30, 2025
• AAPL: $67.89 million (4.97% of AUM) as of September 30, 2025
• NVDA: $65.25 million (4.78% of AUM) as of September 30, 2025

As of October 17, 2025, shares of General Dynamics were priced at $331.15, up 7.4% for the year through October 17, 2025 and underperforming the S&P 500 by 3.2 percentage points over the same period.

Company Overview

Company Snapshot

General Dynamics offers business jets, naval vessels, combat vehicles, weapons systems, and advanced IT solutions through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies.

The company generates revenue primarily through manufacturing and servicing defense platforms, business aviation, and technology solutions for government and commercial clients.

It serves U.S. and allied government agencies, defense departments, and commercial aviation customers worldwide.

General Dynamics is a leading global aerospace and defense contractor with a diversified portfolio spanning business aviation, shipbuilding, land combat systems, and defense technology.

Foolish take

Nixon Peabody Trust Company scaled back its position in General Dynamics, but even before the sell, this stock accounted for only a small fraction of the fund’s overall portfolio at just 1.26% of AUM — well outside its top five holdings.

It’s worth noting that although General Dynamics has lagged behind the S&P 500, it’s up by more than 25% year to date and 133% over the last five years, as of October 17, 2025. With the timing of this sell-off, it’s not surprising that institutional investors are cashing in on those earnings.

General Dynamics remains a major name in the defense sector, recently securing a $1.5 billion contract with U.S. Strategic Command to modernize its enterprise IT systems.

The company also has a long history of dividend growth, increasing its dividend payout for 28 consecutive years. Defense companies like General Dynamics can already offer some stability and predictability for investors thanks to contracts with the U.S. government, while consistent dividends can be appealing to income investors, too.

Glossary

13F: A quarterly SEC filing by institutional investment managers disclosing their equity holdings.
Assets Under Management (AUM): The total market value of investments managed on behalf of clients by a fund or institution.
Quarter (Q3 2025): The third three-month period of a financial year; here, July–September 2025.
Position: The amount of a particular security or asset held by an investor or fund.
Top five holdings: The five largest investments in a fund’s portfolio by value.
Stake: The ownership interest or share an investor holds in a company.
Defense contractor: A company that provides products or services to military or government defense agencies.
Segment: A distinct business division within a company, often reporting separate financial results.
TTM: The 12-month period ending with the most recent quarterly report.