South Korea win the women’s 3000m speed skating relay gold medal as Italy finish in second, meaning Arianna Fontana wins her 14th Olympic medal to become her country’s most decorated Olympian.
Great Britain’s women’s team are in a similarly precarious position.
The inexperienced rink – with only Jen Dodds surviving from the 2022 gold-medal winning team – finished sixth in last year’s World Championships and were some way short of their best against the US, with opportunities missed and mistakes made.
It looked for all the world like their chances were gone, trailing 7-6 going into the final end, and without the hammer.
However, Rebecca Morrison executed a sensational double takeout with her final throw and the Americans faltered under pressure, botching their effort to hand the British rink an implausible 8-7 triumph.
The Scottish quartet still need to win their final two games and hope for favours elsewhere if they are to salvage a place in the medal matches.
The next hurdle is a meeting with bottom-of-the-table Japan later on Wednesday (18:05 GMT) before they face second-bottom Italy on Thursday (13:05).
“There was a lot at stake but we just need to keep believing,” Morrison told BBC Sport. “We were up against it but we’re here to fight and that’s what we did.”
Vinicius Jr scored a sublime second-half winner as Real Madrid beat Benfica 1-0 in their Champions League playoff first leg, a night overshadowed by the Brazilian accusing Benfica’s Gianluca Prestianni of directing a racist slur at him.
The alleged incident occurred moments after Vinicius had curled Real ahead, five minutes into the second half at the Estadio da Luz on Tuesday, before referee Francois Letexier halted the match for 11 minutes under FIFA’s anti-racism protocol.
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Television pictures showed the Argentinian winger covering his mouth with his shirt before making a comment that Vinicius and nearby teammates interpreted as a racial slur against the 25-year-old, who has repeatedly suffered racism in Spain during matches.
“It is unbelievable that, with dozens of cameras in the stadium, that none could have caught [Prestianni’s] racial slur, but if you cover your mouth to say something, that says a lot,” Real captain Federico Valverde told Movistar Plus.
“According to my teammates who were close, they heard something very ugly. Many people have been fighting against racism in football; Vinicius is one of them. I’m proud of him and his great game.”
The Associated Press news agency reported that television cameras picked up Vinicius Junior telling the referee that Prestianni had called him a “monkey”.
Benfica began the game on the front foot, but the visitors gradually assumed control while the hosts appeared content to counterattack, with goalkeeper Thibaut Courtois producing a stunning one-handed save to keep out a 25th-minute strike from Fredrik Aursnes.
Real finished the first half strongly, and only goalkeeper Anatoliy Trubin’s brilliance kept the score goalless at the break as he produced stunning saves to deny Kylian Mbappe and Arda Guler.
The breakthrough came five minutes after the restart. Mbappe burst forward and fed Vinicius on the left. The Brazilian cut diagonally towards the box, shifted inside and unleashed an unstoppable curling shot into the far top corner.
Vinicius celebrated by dancing with the corner flag and was booked by Letexier for excessive celebration.
As the forward argued with the referee, he became involved in a heated exchange with Prestianni, with Vinicius and several teammates suddenly running towards the referee.
Letexier crossed his arms in front of his face to activate FIFA’s protocol and stopped the match. Real’s players threatened to leave the pitch as tensions flared, before play eventually resumed 11 minutes later.
The atmosphere turned hostile, with Vinicius loudly booed whenever he touched the ball, and the broadcast camera appeared to show an outraged Mbappe calling Prestianni “a bloody racist” to his face several times after the game resumed.
Tempers flared again in the 85th minute, when Vinicius fouled Richard Rios. Benfica manager Jose Mourinho stormed towards the fourth official, demanding a second booking for the Brazilian, but was himself cautioned for his protests.
An incensed Mourinho continued remonstrating, and was promptly shown a second yellow card.
Mourinho is shown a red card after directing some choice words at the officials [Angel Martinez/Getty Images]
Benfica pushed late on, but managed only three shots on target as Real secured a slender advantage to take back to Madrid for the return leg.
Real Madrid coach Alvaro Arbeloa decried the alleged abuse against Vinicius Junior.
“I think everyone can see what happened with Prestianni,” he said.
Arbeloa added, “We have to fight against this type of attitude”, and, “If we don’t respect each other, then it is a problem”.
Madrid right-back Trent Alexander-Arnold told Amazon Prime that what allegedly happened during the match was a “disgrace to football” and overshadowed the performance and an amazing goal.
“Vini has been subject to this a few times throughout his career,” he said. “To ruin a night like this for our team is a disgrace. There is no place for it in football or society. It is disgusting.”
Mourinho criticised Vinicius Junior’s celebration and defended the club – if not Prestianni – against allegations of racism.
“Words were exchanged. I want to be independent. I don’t want to say I believe in Prestianni or believe in Vinicius,” he said.
“I told [Vinicius], ‘When you score a goal like that, you just celebrate in a respectful way’. When he was arguing about racism, I told him the biggest person [Eusebio] in the history of this club was Black. This club, the last thing that it is, is racist.”
Galatasaray thrash Juve 5-2
Elsewhere on Tuesday, Dutch midfielder Noa Lang scored a brace as Galatasaray thumped Juventus 5-2 in a pulsating contest in Istanbul in the first leg of a Champions League playoff.
In a nerve-shredding atmosphere, Luciano Spalletti’s Juventus actually led 2-1 at half-time after Teun Koopmeiners replied to Brazilian midfielder Gabriel Sara’s opener with a brace of his own.
But Colombian full-back Juan Cabal was dismissed for two bookings in a calamitous second half for the Italian side, as Lang’s brace and goals from Davinson Sanchez and Sacha Boey sunk Juventus.
Meanwhile, Champions League holders Paris Saint Germain overcame a horror start and a two-goal deficit to beat 10-man Monaco 3-2 away in the first leg of their knockout round playoff tie.
Desire Doue came off the bench to engineer an impressive turnaround for PSG, who conceded a goal in the opening minute and were 2-0 down after 18 minutes as Folarin Balogun grabbed a double for the hosts.
The 20-year-old Doue replaced Ballon d’Or winner Ousmane Dembele, who went off injured after 27 minutes, and proved decisive for the visitors as he struck two superb goals, as well as setting one up for Achraf Hakimi.
In Germany, striker Serhou Guirassy scored one goal and created another as hosts Borussia Dortmund claimed a 2-0 victory over Italian visitors Atalanta in the first leg of their Champions League playoff tie on Tuesday.
Canada’s Yuvraj Samra became the first player from an associate nation to make a T20 World Cup century but it was not enough to stop them sliding to an eight-wicket defeat byt New Zealand, who confirmed their place in the Super 8 phase.
Samra made 110 off 65 balls in a knock which featured 11 fours and six sixes as his stunning innings helped Canada post 173-4.
The teenager had brought up his hundred off 58 balls as he eclipsed the previous top score by an associate player – 94 not out by the USA’s Aaron Jones against Canada at the last World Cup.
At 19 years and 141 days, he also became the youngest-ever T20 World Cup centurion, beating Pakistan Ahmed Shehzad’s (22 years and 127 days) against Bangladesh in 2014.
Samra was eventually dismissed by Jacob Duffy – caught in the deep behind square by Glenn Phillips – and left to a standing ovation at the MA Chidambaram Stadium in Chennai
“I manifested this moment ever since we qualified for the World Cup. Every single day, I dreamed about scoring a hundred on this stage,” said Samra, who is named after ex-India batter Yuvraj Singh.
“To do it here, in my first appearance [in Chennai], and as the youngest player in this World Cup – it’s truly a dream come true.”
Canada captain Dilpreet Bajwa, who shared a 116-run stand with Samra for the first wicket, added: “Hats off to Yuvraj, he finished with a hundred in this match and it’s a proud moment for him and all Canadians.”
Kiwi seamers Matt Henry, Kyle Jamieson, Jimmy Neesham and Duffy all claimed one wicket apiece.
New Zealand had a brief wobble early in the chase when they lost openers Tim Seifert and Finn Allen in quick succession and slipped to 30-2.
However, Canada’s bowlers were unable to press home the advantage and an unbroken 146-run stand for the third wicket between Rachin Ravindra and Phillips got them home with 29 balls to spare.
Phillips top-scored with a brutal 76 not out of 36 balls while Ravindra finished unbeaten with 59 off 39 deliveries.
New Zealand’s victory sent them through and eliminated Canada in addition to the UAE and Afghanistan.
Venezuela’s Navegantes del Magallanes were crowned champions of the 2026 Americas Series. (John Requena)
Caracas, February 17, 2026 (venezuelanalysis.com) – Venezuela’s Navegantes del Magallanes claimed the 2026 Serie de las Américas baseball tournament after defeating Colombia’s Caimanes de Barranquilla 10–9 on Friday, February 13, at the Estadio Monumental Simón Bolívar in Caracas.
The Colombian squad stunned fans with a commanding 5–0 lead in the opening inning and maintained a five-run advantage for much of the game. However, Magallanes engineered a dramatic comeback that will become one of Venezuela’s most celebrated baseball victories, scoring seven unanswered runs in the eighth inning to overturn the deficit.
The Venezuelan team, representing the host nation for the tournament held from February 5 to 13 in Caracas and La Guaira, stumbled in its opening match against Panama before rallying and stringing together consecutive wins. This included a decisive 9–1 semifinal victory over Cuba to book a place in the final.
The 2026 Serie de las Américas—the second edition of this regional international baseball competition organized by continental baseball league associations—brought together national teams from Cuba and Curaçao, and the winter league champions from Venezuela, Panama, Nicaragua, Colombia, and Argentina. The tournament featured a round-robin phase followed by semifinals and a championship game.
Navegantes del Magallanes secured its place in the tournament after winning the Venezuelan league in early February.
Venezuela’s participation in the Serie de las Américas became possible after the country opted out of the February 1–7 Serie del Caribe, following decisions by that event’s organizers to relocate the tournament amid claims of “political conflicts” linked to the January 3 US military strikes and kidnapping of President Nicolás Maduro.
The Venezuelan professional league initially suspended its Round Robin phase following the attacks, though play resumed on January 7 and continued through the Serie de las Américas.
On Saturday, the champion Magallanes were welcomed at Miraflores Palace by acting President Delcy Rodríguez, who praised the team’s achievement.
“When they achieved victory, I felt the joy of seeing a country rise up and demonstrate its winning spirit. The most important jersey we Venezuelans wear is that of Venezuela; you wore it and showed that there is no adversity we cannot overcome,” Rodríguez said.
The Venezuelan leader also formally expressed Venezuela’s desire to once again host the regional tournament in 2027.
Matt Weston and Tabby Stoecker make history as they claim gold in the mixed team skeleton at the 2026 Winter Olympics. Weston becomes the first Team GB athlete to win two gold medals in a single Winter Olympics.
Matt Weston produced a stunning run to make more history in Cortina as he became the first Briton to win two gold medals at a Winter Olympics with a thrilling victory in the mixed team skeleton event alongside Tabitha Stoecker.
Stoecker had given Weston a tough task with her run of 1:00.77, 0.30 seconds off the pace of the Germans with the British pair, ranked top seeds, the last to run.
But Weston, who stormed to gold on Friday – Team GB’s first medal at the Games – showed why he is the best skeleton racer in the world with a sublime 58.59secs run to clinch his second triumph of the Games.
It is the first time Great Britain have won three gold medals at a single Winter Olympics after Charlotte Bankes and Huw Nightingale won snowboard cross mixed team gold earlier on Sunday.
A second British team, Marcus Wyatt and Freya Tarbit, missed out on a medal by an agonising 0.01secs as the two German teams of Christopher Grotheer and Jacqueline Pfeifer and Axel Jungk and Susanne Kreher took silver and bronze, respectively.
England fly-half Zoe Harrison nailed a late long-range penalty as Saracens snatched a 36-33 win over Bristol Bears at StoneX Stadium.
The victors raced into a 26-12 lead at half-time through tries by Millie Whizz, New Zealand’s Ruahei Demant and England prop Sarah Bern, who crossed twice.
Despite two scores by hooker May Campbell and one by Olivia Apps to retake the lead, Bristol then levelled the game after Keira Bevan converted her own try.
The victory meant Saracens kept up the pressure on Premiership Rugby Women’s league leaders Gloucester-Hartpury, while Bristol remain second from bottom.
Exeter Chiefs defeated Loughborough Lightning 26-5 at Sandy Park in Sunday’s other PWR fixture.
Francesca Granzotto, Amy Rule and Hope Rogers all scored first-half tries for the Chiefs, with Ireland’s Dorothy Wall grabbing the vital bonus-point try in the final play.
The result moved Exeter into third place above Harlequins, who lost to Gloucester-Hartpury on Saturday.
Charlotte Bankes and Huw Nightingale won snowboard cross mixed team gold – Team GB’s first ever Winter Olympic title on snow.
After heartbreak in their individual events, the British pair made amends with an astonishing performance to add Olympic gold to the World Championship title they won in 2023.
In an event that sees the men race first, Nightingale crossed the line in second place to set up Bankes perfectly – and she used her remarkable speed on the board to take the lead and pip Italy’s Michela Moioli to the line.
It marked a second successive silver in this event for Moioli and Lorenzo Sommariva, while France’s Loan Bozzolo and Lea Casta took bronze.
Bankes, a former individual world champion and two-time overall World Cup winner, was left crestfallen on Friday when she exited the women’s event in the quarter-finals, just as she did four years ago in Beijing, despite being widely tipped for a medal.
Similarly, Nightingale was left wanting much more from himself after exiting the men’s competition in the round of 16, but found another level to produce arguably his best racing alongside Bankes.
Two years ago, Los Angeles Mayor Karen Bass went to Sherman Oaks to cut a quick campaign ad for a trusted ally: Councilmember Nithya Raman.
Standing next to Bass, Raman looked into the camera and praised the mayor’s work on homelessness, saying she was “honored” to have her support.
“I couldn’t be prouder to work alongside her,” Raman said.
That video, recorded at a get-out-the-vote rally for Raman’s reelection campaign, feels like a political lifetime ago. On Feb. 7, Raman launched a surprise bid to unseat Bass, saying the city is at a “breaking point” and no longer capable of providing basic services.
Raman’s entry into the race, hours before the filing deadline, shocked the city’s political elite and infuriated the mayor’s supporters. Some observers called it a betrayal of Shakespearean proportions.
Raman’s name had appeared on a list of Bass endorsers just weeks earlier. Bass’ support for Raman’s 2024 reelection bid had helped the councilmember earn 50.7% of the vote and avoid a messy runoff.
“How can she treat a relationship like this, and dispose of it once it’s served its purpose?” said Julio Esperias, a Democratic Party activist who volunteered with Raman’s 2024 campaign at Bass’ request. “It’s a breach of trust, a betrayal, and it’s kind of hard for me to stomach at the moment.”
In 2024, Bass — then at the peak of her popularity — was featured prominently in Raman’s campaign mailers. She sent canvassers to knock on voters’ doors. A speech Bass delivered at Raman’s rally in Sherman Oaks was turned into a social media video with stirring background music.
Councilwoman Nithya Raman talks to attendees during an election night party held by the Democratic Socialists of America – LA chapter at The Greyhound on Nov. 4 in Los Angeles.
(Eric Thayer/Los Angeles Times)
That video, along with other posts highlighting Bass’ support for her, still appears on Raman’s Instagram page, which now promotes her run for mayor.
Bass, politically bruised over her handling of last year’s devastating Palisades fire, now faces an insurgent campaign from one of the City Council’s savviest players.
Esperias said he regrets helping Raman claw back the endorsement of the Los Angeles County Democratic Party in 2023, after it nearly went to her opponent.
Bass, for her part, has downplayed any hard feelings, saying she intends to run on her record — including her collaboration with Raman. Asked if she viewed Raman’s candidacy as a betrayal, she responded: “That’s not significant now.”
Mayor Karen Bass speaks before signing a rent stabilization ordinance passed by the Los Angeles City Council, the first update to the ordinance in nearly 40 years, at Strategic Actions for a Just Economy in Los Angeles Tuesday, Dec. 23, 2025.
(Allen J. Schaben/Los Angeles Times)
“I will tell you that it was a surprise, absolutely,” Bass said. “But I am moving forward, I am going to run my race, and I look forward to serving with her in my second term.”
Raman has been delivering a similarly complicated message, expressing deep respect for the mayor while arguing that the city is in desperate need of change.
On the morning of Feb. 7, before filling out her paperwork at the city clerk’s office, Raman called Bass to inform her she was running.
The next day, the two women met privately at Getty House, the mayor’s mansion. Neither would say why they met or what they discussed.
At City Hall, both supporters and critics of Bass have been retracing recent events, looking for clues as to how things went wrong.
In November, while watching election returns for New York City Mayor Zohran Mamdani, Raman told The Times that Bass was the most progressive mayor the city ever had — noting that Angelenos “vote their values.” Last month, Bass twice announced that she had Raman’s endorsement.
On Friday, Raman said she could not remember exactly when she endorsed Bass, saying she believed it came during a phone call with the mayor “probably in the fourth quarter of last year.” At the same time, she said her exasperation with the city’s leadership has been building for months.
“I have been actually frustrated by the conditions in the city for quite some time, particularly over this last year, where we are both unable to deliver basic services, like fixing streetlights and repaving streets for my constituents, but also are not moving toward a more accountable, transparent and efficient system of addressing issues like homelessness,” she said in an interview.
Gloria Martinez, center, of United Teachers Los Angeles, speaks at a rally outside City Hall featuring opponents of the effort to rewrite Measure ULA, a tax on property sales to pay for housing initiatives.
(Allen J. Schaben/Los Angeles Times)
Raman pointed to Measure ULA, the voter-approved tax on property sales of $5.3 million and up, as a catalyst for her mayoral bid. Although she has been a supporter of the tax, she has also concluded that it is a major obstacle to building new housing.
Last month, Raman tried without success to put a measure on the June 2 ballot that would have scaled back the types of properties covered by the tax, in hopes of jump-starting apartment construction.
Raman also told The Times that Inside Safe, the mayor’s signature program to move unhoused people indoors, needs to be redesigned so it is “fiscally sustainable.” She said she “simply did not see any progress” from the mayor’s office on that issue.
Asked whether she betrayed Bass, Raman said her decision to run was driven by the growing problems facing the city — and the need for change.
“My most important relationship in this role is with the people of Los Angeles, not the politics of City Hall,” she said.
Bass campaign spokesperson Douglas Herman pointed out that Raman is head of the council’s housing and homelessness committee — and that she repeatedly voiced support for Bass programs that have delivered back-to-back reductions in street homelessness.
Los Angeles City Councilmember Nithya Raman scans a QR code to get election updates during an election night party in March 2024.
(Myung Chun/Los Angeles Times)
“While we are developing more cost effective models, it is absolutely urgent that we get people off our streets immediately,” Herman said. “Nithya Raman is acting like a typical politician and knows it because she congratulated Mayor Bass for cleaning dangerous and long-standing encampments in her district.”
Raman’s decision has sparked an outcry from an unlikely combination of Bass allies. Danny J. Bakewell, Jr., executive editor of the Los Angeles Sentinel, condemned Raman’s actions last week in an editorial that invoked the O’Jay’s 1972 hit “Back Stabbers.”
“One of life’s greatest disappointments is discovering that someone you believed was a friend is not,” wrote Bakewell, whose newspaper focuses on issues facing the city’s Black community.
The Los Angeles Police Protective League, which represents rank-and-file LAPD officers and opposed Raman’s reelection in 2024, offered a similar take.
“If political backstabbing were a crime, Nithya Raman would be a wanted fugitive,” the union’s board, which has endorsed Bass, said in a statement.
Zev Yaroslavsky, a former county supervisor and City Council member, does not believe that Raman’s recent history with Bass — endorsing her and later running against her — will be an issue for the electorate. In L.A. political circles, however, it will be viewed as a transgression, at least in the short term, he said.
“As a politician, you don’t have much currency. What you have is your word,” he said.
Yaroslavsky, director of the Los Angeles Initiative at the UCLA Luskin School of Public Affairs, said he is certain that Raman and the other major candidates — community organizer Rae Huang, reality television star Spencer Pratt and tech entrepreneur Adam Miller — have looked at polls showing that Bass is politically weakened and vulnerable to a challenge.
“If Raman becomes mayor, nobody’s going to remember this, including the political class,” he said. “If she doesn’t, it’ll be a little more difficult for her. It’s not irreparable. But there will be a residue to this.”
On the council, Raman belongs to a four-member voting bloc, each of whom won office with support from Democratic Socialists of America. While Bass is generally considered more conservative than Raman on public safety issues, the two share many of the same policy priorities, particularly around homelessness.
In her first campaign for City Council in 2020, Raman ran on a promise to address the city’s homelessness crisis in a humanitarian way, by moving unhoused residents into temporary and permanent housing.
Bass, a former state Assembly speaker and 12-year member of Congress, took office two years later and made homelessness her signature issue, convincing the council to expand her power to respond to the crisis.
Raman backed Bass’ declaration of a homelessness emergency, which gave the mayor the power to award contracts and sign leases directly. A week later, Bass staged her first Inside Safe operation in Raman’s district, on a stretch of Cahuenga Boulevard in Hollywood.
As recently as July, Raman appeared on a Bass press release touting the city’s progress on homelessness.
Bass first announced that Raman had endorsed her on Jan. 27. Raman said she did not begin seriously contemplating a run for mayor until the following week, as the filing deadline approached.
Over a tumultuous 48-hour period, former L.A. schools Supt. Austin Beutner exited the race, while real estate developer Rick Caruso and L.A. County Supervisor Lindsey Horvath announced that they, too, would stay out.
“I realized we were potentially not even going to have a real competition, and that troubled me,” Raman said.
Esperias, the Bass supporter, said he is still processing Raman’s decision to run.
He said Bass tapped him to help Raman in 2023 after one of Raman’s opponents, deputy city attorney Ethan Weaver, cleared a key hurdle in his bid for the endorsement of the county’s Democratic Party.
Esperias, who lives in L.A.’s Vermont Square neighborhood, said he worked with Raman’s team on a plan to persuade party members to pull Weaver’s endorsement, then flip it to Raman. While Esperias and others called and texted party members, Bass sent a letter urging them to endorse Raman.
Weaver, in an interview, said he immediately felt the difference. After Bass’ letter, interest in endorsing him evaporated.
“It changed the amount of people that would take my call,” he said.
Once the election was over, Esperias said, Raman sent a text message thanking him for his help during a tough campaign.
“I put my credibility, I put my relationships on the line to help build this coalition to get that endorsement,” Esperias said.
Raman argued that the support has gone both ways.
During Bass’ first mayoral campaign, Raman held a fundraiser at her Silver Lake home and introduced Bass to key people in her district.
“I did help her in her election as well, just like she helped me,” she said.
Times staff writer Dakota Smith contributed to this report.
Captain Aiden Markram hits an unbeaten 86 in seven-wicket defeat of New Zealand in Ahmedabad.
Published On 14 Feb 202614 Feb 2026
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South Africa are on the brink of reaching the Twenty20 World Cup’s Super Eight stage after captain Aiden Markram’s storming half-century led them to a dominant seven-wicket victory over New Zealand, securing their third straight Group D win.
New Zealand on Saturday suffered their first loss in the campaign after they posted 175-7 as South Africa’s Marco Jansen took four wickets.
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In response, opener Markram hit four sixes and eight boundaries in his unbeaten knock of 86 off 44 balls, the highest by a South African captain in the tournament’s history, helping his team reach 178-3 with 17 balls to spare.
Last edition’s finalists South Africa chose to bowl first in Ahmedabad, India, and it immediately paid off as player of the match Jansen (4-40) dismissed most of New Zealand’s top order by the seventh over.
Finn Allen (31 off 17 balls) tried to mitigate the damage after Tim Seifert and Rachin Ravindra fell to Jansen. But Jansen got Allen caught at mid-off in the sixth over, leaving New Zealand struggling at 58-3.
Mark Chapman (48) and Daryl Mitchell (32) turned things around with a 74-run partnership for the fifth wicket until Jansen got Chapman caught by Ryan Rickelton at backward point in the 14th.
New Zealand scored only 17 runs in the next four overs until James Neesham’s unbeaten 23 off 15 balls got them to a fighting total.
Markram’s magic seals the deal for South Africa
Chasing 176, South Africa got off to a fast start with Markram hitting three sixes and five boundaries to steer his team to 62-0 in four overs.
Losing fellow opener Quinton de Kock (20) did not affect Markram, who hit Mitchell Santner for a six down long-on to reach his half-century in just 19 balls. By the time Rickelton (21) fell in the eighth over, South Africa had already crossed the 100-run mark.
With the required run rate falling below six per over, Markram did not hit a single boundary in the next seven overs and focused on rotating the strike, getting South Africa within 28 runs of victory with 30 balls left.
“It’s about managing it through the right phases, I guess, but up front, you’ve seen how teams are taking on the powerplay and we’d be silly not to try that. It’s not always going to come off, but when it does, … we can get ahead of the game,” Markram said.
David Miller, who scored an unbeaten 24, cleared the mid-wicket boundary to bring up the winning runs.
South Africa will conclude their group campaign against the United Arab Emirates on Wednesday, a day after New Zealand play Canada.
La Mirada finally got its breakthrough win in the Southern Section Open Division basketball playoffs on Friday night, going on the road to defeat St. John Bosco 56-53.
The Matadores (23-7) wanted to be in the Open Division playoffs last season and went 1-3, failing to make the state playoffs. They lost to Sherman Oaks Notre Dame on Wednesday, in a pool-play opener, ending their 14-game winning streak, then came back to inflict a rare home defeat on St. John Bosco in a pool play game. St. John Bosco had a chance to tie the score at the end but a three-point attempt failed.
Jordyn Houston led La Mirada with 22 points. St. John Bosco faces Notre Dame on Tuesday. La Mirada is in good position to claim second place in the pool and advance to the quarterfinals.
Harvard-Westlake 67, Damien 62: Joe Sterling finished with 22 points to help the Wolverines get back into the win column in an Open Division pool play game.
Corona Centennial 74, Etiwanda 48: The Huskies rolled to a win in their Open Division opener.
Crespi 82, Corona del Mar 70: The Celts faced a large, enthusiastic road crowd and won their first Open Division game. Isaiah Barnes scored 24 points and Jasiah Williams 23. Maxwell Scott scored 35 points for Corona del Mar.
JSerra 75, Loyola 46: Jaden Bailes scored 22 points in the Division 1 playoff victory.
Mater Dei 85, Westlake 59: It was another dominating win for the Monarchs in Division 2.
Rolling Hills Prep 63, Orange Lutheran 52: Josahn Webster, the son of King/Drew coach Lloyd Webster, contributed 23 points for Rolling Hills Prep.
Shalhevet 42, Palm Springs 41: Sam Jacobsen had the game-winning basket for Shalhevet in a Division 4-A game.
Venice 58, Sun Valley Poly 40: The Gondoliers advanced in the City Section Division I playoffs.
London, United Kingdom – The United Kingdom’s ban on Palestine Action has “backfired”, its cofounder said, after the High Court ruled that proscribing the group as a “terror” organisation was unlawful.
Critics from the United Nations human rights chief to the Irish author Sally Rooney decried the UK’s ban last June as an illiberal overreach, since it put Palestine Action on par with ISIL (ISIS), al-Qaeda and dangerous far-right organisations.
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On Friday, High Court judges dealt a massive blow to the government of Labour leader Keir Starmer, saying, “The decision to proscribe Palestine Action was disproportionate.”
“Today is a victory for Palestine,” Palestine Action cofounder Huda Ammori told Al Jazeera. The ban has “backfired on [the government] massively. They’ve made Palestine Action a household name.
“They have spread the message and the power that ordinary people have to shut down weapons factories across the country and across the world. So for that, I thank them.”
The group’s cofounder Huda Ammori said Friday’s High Court ruling marked a ‘victory for Palestine’
Founded in 2020, Palestine Action’s stated objective has been to counter Israeli war crimes – and what it says is British complicity in them – by targeting weapons manufacturers and associated companies.
Its main target is Elbit Systems, Israel’s largest arms company, which has several sites in the UK.
“Rather than ask somebody else to stop those weapons going and being used to commit genocide, we go to the source, and we stop those weapons ourselves,” said Ammori, a 31-year-old Briton of Iraqi and Palestinian heritage.
“That is what direct action is about. If you saw a building burning down with children inside, you wouldn’t hesitate to bang down the door to save those children’s lives. It is exactly the same principle. You don’t care about the value of the door. It is about those lives. It is about the liberation of Palestine. And so we do our bit to shut down the Israeli weapons trades from Britain.”
The group has been a thorn in Starmer’s side since Israel began its genocidal onslaught in Gaza.
Palestine Action-linked activists have carried out several raids, often leaving their mark in red spray paint intended to symbolise blood.
Dozens are currently being held on remand in relation to two actions.
Some prisoners, known as part of the “Filton 24”, are alleged to have participated in a break-in at a UK subsidiary of Elbit Systems in Bristol.
Others are accused of involvement in a break-in at the UK’s largest air base in Oxfordshire, where they were alleged to have spray-painted two Voyager refuelling and transport planes. It was after this raid that the government banned Palestine Action.
They all deny the charges against them, such as burglary and criminal damage.
Six of the “Filton 24” were recently acquitted of aggravated burglary; five of them were bailed.
“At its core, Palestine Action is an organisation that promotes its political cause through criminality and encouragement of criminality. A very small number of its actions have amounted to terrorist action,” the High Court judges said.
Tens of thousands of people have protested against the ban. Almost 3,000 of them have been arrested for raising placards with slogans such as: “I oppose genocide. I support Palestine Action.”
“The government committed a huge crime against its own population,” said Ammori. “It was unlawful for them to ban Palestine Action, and when they banned Palestine Action, they subsequently did thousands of unlawful arrests against their own citizens and tried to prosecute them through the courts for terrorism offences, for holding up signs.”
Despite Friday’s ruling, the ban remains in place pending appeal.
The UK’s Home Secretary Shabana Mahmood said she was “disappointed” by Friday’s ruling and intends to appeal – earning further criticism from rights groups and some fellow Labour politicians.
John McDonnell, an MP who voted against the proscription, said on X, “I thought it was unjust. We have a right to protest, to assemble, and to speak freely in this country – that has been secured largely by direct action over centuries. I am urging the government to abide by that tradition and not to appeal this judgement.”
“Shabana Mahmood needs to take a step back,” said Ammori. “She’s completely betrayed the Palestinian people since she’s become minister … it’s only going to backfire on her.
“Palestine Action’s ban will be lifted … We won today in the High Court … If they try and appeal, we’ll beat them again.”
This amazing experience for two includes exclusive tickets to The Mystery of Banksy Exhibition at Depot Mayfield, plus overnight stay in the Banksy-themed room at Manchester Marriott Hotel Piccadilly
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Terms and Conditions: This competition closes at 11:45pm on Sunday, March 1, 2026. Entries received after this date will not be accepted. One winner will be selected at random from all eligible submissions after the closing date and will be contacted by email within 7 days to arrange fulfilment. To enter the competition, you will need to submit your name and valid email address on the entry form. The winner has 48 hours/ 2 days from the date of the notification email to claim their prize, failure to respond within 72 hours will result in forfeiture of the prize / pick another winner. The prize is: one night’s stay for two in a deluxe king room in the stunning Banksy-themed rooms at Manchester Marriott Hotel Piccadilly, including breakfast the next morning. Tickets to The Mystery of Banksy Exhibition at Depot Mayfield, where you can explore the story behind the world’s most famous street artist. A £100 Freight Island voucher to spend on food and drinks (valid on selected dates). Travel costs covered up to £250 to help you get there and back. Travel expenses must be pre-approved and receipts may be required for reimbursement up to the stated limit. The prize must be redeemed between March 13 and June 30, 2026. Some blackout dates may apply. Prize cannot be exchanged, it is also non-transferable and no cashback alternative will be offered. Upon entering this competition there is an option to opt in to receive various newsletters sent via email. If you do opt in, you will receive these newsletters in accordance with their sending schedule. For those who do not opt in to receive any email newsletters, your data will be solely used for administration of this competition. The winners’ contact details will only be used to administer the competition and will be shared with the company’s prize fulfilment partner, We are Indigo – PR Agency to fulfil the prize. We are Indigo PR Agency will contact the winner to further liaise on the fulfilment of the prize (please make sure all entry details provided are correct). By entering this competition, you are permitting Reach plc to use your personal data to contact you to arrange prize fulfilment only. Entry to the competition is restricted to one entry per person. Multiple entries will be disqualified. Automated entries, bulk entries or third party entries will be disqualified. This competition is open to UK residents only. This competition is open to people over the age of 18. Employees of the promoter, their families, agents and anyone else connected with this promotion are not eligible to enter. By entering a competition, an entrant is indicating his/her agreement to be bound by these terms and conditions. Entry implies acceptance of these rules. These terms and conditions shall be governed by English law and the courts of England and Wales shall have exclusive jurisdiction to settle any disputes arising under these terms and conditions. Standard competition rules apply. For more go to www.mirror.co.uk/rules.
The Bangladesh Nationalist Party (BNP) has claimed victory in the country’s first election since a student-led uprising that ousted longtime leader Sheikh Hasina in 2024.
Unofficial results confirmed by election officials to Al Jazeera on Friday showed the BNP winning 209 seats, easily crossing the 151-seat threshold needed for a majority in parliament.
Its leader, Tarique Rahman, the son of former Prime Minister Khaleda Zia, is now set to become the country’s next prime minister. BNP officials said the party expected to form a government by Sunday.
The BNP was followed by Jamaat-e-Islami, which secured 68 seats in Thursday’s polls – its highest-ever tally.
The party, which is led by Shafiqur Rahman and contested for the first time since a 2013 ban that was lifted after Hasina’s ouster, said it is not “satisfied” with the vote count and raised “serious questions about the integrity of the results process”.
The National Citizen Party (NCP), led by youth activists instrumental in toppling Hasina and part of a Jamaat-led alliance, won just six of the 30 seats that it contested.
The Election Commission has yet to formally announce the final tally, which is expected either later on Friday or on Saturday.
Turnout stood at almost 60 percent of registered voters, according to the Election Commission, well over the nearly 42 percent in the last election in 2024.
The election featured a record number of parties, more than 50, and at least 2,000 candidates, many of them independents. The parliament comprises 350 lawmakers, with 50 seats reserved for women.
More than 127 million people were eligible to cast their votes, with many expressing enthusiasm for what was widely seen as Bangladesh’s first competitive vote in years.
An interim government led by Nobel peace laureate Muhammad Yunus, 85, has been in office since Hasina fled to India in 2024 after widespread protests led largely by young people, who were killed in their hundreds by security forces.
(Al Jazeera)
Tarique Rahman, who has never held government office, returned to Bangladesh in December after 17 years of self-imposed exile in the United Kingdom. The 60-year-old has yet to comment on the unofficial results but on Friday, he waved from his car as he left his house in the capital, Dhaka, for a mosque.
In a statement, the BNP asked people to refrain from large celebrations and offer special prayers instead.
“Despite winning … by a large margin of votes, no celebratory procession or rally shall be organised,” the party said in a statement.
‘Litmus test’
The 78-year-old former leader, Hasina, was sentenced to death in absentia for crimes against humanity for the bloody crackdown on protesters during her final months in power, and remains in hiding in India. Her Awami League party was barred from the election.
BNP members have said the party would formally request Hasina’s extradition from India. In its manifesto, the BNP promised to prioritise job creation, protect low-income and marginal households and ensure fair prices to farmers. Tarique Rahman has also promised to revive a stagnant economy, reset ties with countries in the region and crack down on corruption.
Abbas Faiz, an independent South Asia researcher, said the election was a test of how Bangladesh was “ready for democracy”.
“Also, a test of the political parties which have been able to take part in the elections. They have actually understood the aspirations and the wishes of the people of their country for the removal of corrupt practices in the administration and parliament,” Faiz told Al Jazeera.
He added the election is the “litmus test” which puts responsibility on the “shoulders of the new government”.
But Faiz explained that the election would have been “fairer” if all parties, including the Awami League, were allowed to participate.
“But in a way, the problem lies with the Awami League itself, because it did not reimage itself as a party that could be trusted by the general populace in Bangladesh,” he said.
Indian Prime Minister Narendra Modi, Pakistan Prime Minister Shehbaz Sharif and the US ambassador to Bangladesh, Brent T Christensen, were among the first to congratulate Rahman on his party’s victory. China’s embassy in Dhaka also congratulated the BNP over its election showing.
The election commission also said some 48 million voters chose “Yes” while about 23 million said “No” in a referendum on constitutional reforms held alongside the election, though there was no official word on the outcome.
The changes include two-term limits for prime ministers and stronger judicial independence and women’s representation, while providing for neutral interim governments during election periods and setting up a second house of the 300-seat parliament.
Fahmida Khatun, an economist and executive director of the Dhaka-based Centre for Policy Dialogue, told Al Jazeera that early signals support the perception of a credible election.
Although heavy security was reported across polling stations, “broadly, the voting was peaceful”, Khatun said, pointing to the voter turnout figure as an indicator of healthy participation.
“This indicates citizens wanted to exercise their voting rights and they wanted to choose their own people,” she added.
Several hundred international observers monitored Thursday’s voting, with the European Union’s Election Observation Mission expected to issue a preliminary report on its findings on Sunday.
Their frustrating midseason slump was finally in the rear-view mirror, their season finally feeling back on the right track.
Any reservations about USC righting the ship after losing six of seven had largely been forgotten on the heels of a four-game winning streak. Victories over No. 8 Iowa, Rutgers, Northwestern and Illinois, two of which came on the road, had cemented its place on the right side of the NCAA tournament bubble.
But as the Trojans were reminded in a 79-73 win over Indiana at Galen Center, now is no time to get comfortable — even if Thursday’s victory had marked their longest winning streak of the season.
The Hoosiers certainly never let USC settle in, even as freshman Jazzy Davidson poured in another stat-stuffing performance that would have to carry a stagnant Trojan offense for much of the way. It would take an aggressive defensive effort, too, complete with 19 forced turnovers, to put Indiana away.
That it took such a hard-fought effort to escape a team that’s 3-11 in the Big Ten and was without the Big Ten’s leading scorer, Shay Ciezki, was not exactly reassuring, as USC (16-9 overall, 8-6 in the Big Ten) enters the final four games of their regular season slate. Two of those four are against top 10 teams, Ohio State and UCLA.
But where the Trojans might have slipped up earlier in the season, they held tight Thursday.
“We were tough where we needed to be when shots weren’t falling,” coach Lindsay Gottlieb said. “Our confidence to get it done when it’s not always prettiest is something that we’re proud of.”
Outside of a stellar second quarter, Thursday’s win certainly would not be remembered for being aesthetically pleasing. Over the rest of the game, Trojans shot under 32% from the floor. Their issues from three-point range persisted, as they made just three of 19 from behind the arc. Over their last four games, they’ve knocked down just 11 of 68 (16%).
They wouldn’t need them Thursday, not with Davidson looking as dynamic as ever. The freshman sensation followed up a career-high, 27-point performance with 24 points, along with six rebounds, three assists and three steals. She did so while playing all 40 minutes.
“You talk about overdelivering,” Gottlieb said, “To be a freshman and carry the load for us and continue to grow, the numbers are really showing it … she’s just capable of doing almost anything on a basketball court.”
That much has been abundantly clear over the last seven games, with Davidson as she’s averaging 20 points, six assists, five rebounds, two steals and two blocks per night. She credited that outburst with being more comfortable down the final stretch of the season.
The Trojans will likely go as far as their dynamic freshman can take them as March approaches. But of late that’s been a pretty successful strategy.
“She’s unique,” Gottlieb said. “I know there are several good freshmen in the country. We know how good she is. We see it every day, and we think there’s no one better.”
USC didn’t look early on like a team that had found solid ground . The Trojans went six straight minutes in the first without a single field goal, then gave up an 8-0 run to Indiana in the final 1:22 of the quarter.
It was until Davidson turned it on in the second quarter that USC seized control. Fresh off her fifth Big Ten Freshman of the Week honors, Davidson tallied 10 points in the second alone, while the Hoosiers had just 13 total, USC’s defense clamping down after a sloppy start.
With Indiana’s attention on Davidson, Kara Dunn and Kennedy Smith would help the Trojans fire out front, as they combined for 20 points after half. But the Hoosiers tied the score just one possession into the fourth quarter.
An elbow to the face of guard Malia Samuels gave the Trojans free throws and a seven-point lead with just four minutes remaining in the game. Still, a foul from Dunn on a corner three-pointer by Indiana’s Maya Makalusky opened the door for the Hoosiers.
Makalusky, who led all scorers with 29, hit another three to once again cut the lead to a single possession.
But USC held on, with Smith applying the punctuation mark, snagging a driving Indiana lay-in out of mid-air with just a minute remaining. It was the sort of play that reminded what USC might be capable of, with everything working in concert.
It’ll need that to be the case, if it hopes to make noise come March.
“We’re in position to do all the things we set out to do,” Gottlieb said. “We’re as good and set up as any team outside of maybe the top group to get a great seed.”
Co‑hosts Sri Lanka produced a commanding display to claim a massive 105‑run victory against Oman, making it two wins from two matches at the T20 World Cup.
Rapid half-centuries from Pavan Rathnayake, Kusal Mendis and captain Dasun Shanaka helped Sri Lanka post a formidable 225 – the highest total at the 2026 tournament so far.
Associate nation Oman mustered little response with the bat as they huffed and puffed to 120-9.
Walking in with Sri Lanka at 136-3 in the 14th over, Shanaka, under pressure after recent poor form, unleashed a sensational late surge, smashing two fours and five sixes on his way to a19-ball 50.
It was the fastest fifty by a Sri Lankan in T20 internationals, surpassing his own previous mark of 20 balls against India in Pune in 2023.
Earlier, after losing openers Pathum Nissanka and Kamil Mishara inside the powerplay, Rathnayake’s 28-ball 60 and Kusal Mendis’ composed 61 off 45 had set the perfect platform for Shanaka’s onslaught as he took them to 225-5, the second‑highest total for Sri Lanka in T20 World Cup history.
Already staring at a huge defeat at the halfway stage, only two batters reached double figures for Oman – Muhammad Nadeem and Wasim Ali.
While 40-year-old Nadeem needed 52 runs to reach his half-century and remained unbeaten on 53, Wasim departed for a 20-ball 27 as Oman fell well short of the target.
Sri Lanka, who beat Ireland by 20 runs in their opener, will take on Australia next at the same venue on Monday while Oman, who suffered their second defeat, will face Ireland in Colombo on Saturday.
Remember when people were wondering what might happen to the Sherman Oaks Notre Dame basketball team after All-American Tyran Stokes left for a new high school in Washington?
What’s happened is that the Knights (20-6) went into the weight room, got stronger to make up for losing Stokes’ rebounding prowess and are very much alive in the Southern Section Open Division playoffs after defeating La Mirada 76-60 on Wednesday night in their opening game of Pool D. Next up is St. John Bosco at home Tuesday night.
Players such as Zach White, Josiah Nance, Ilan Niklov and Zion Lanier are showing off their muscles. Even guard NaVorro Bowman, who scored 25 points, is using his strength to draw fouls and head to the free-throw line.
Andrew Castro scored 17 points for La Mirada, which had won 14 consecutive games.
Santa Margarita 81, Damien 71: The Eagles won their pool play opener at home. Kaiden Bailey finished with 21 points.
Sierra Canyon 71, Crespi 64: Jordan Mize scored 16 points, Brandon McCoy and Brannon Martinsen 15 and Maxi Adams 14 to power top-seeded Sierra Canyon to an Open Division win.
Redondo Union 74, Etiwanda 31: SJ Madison led the way with 20 points for Redondo Union.
Windward 77, Bishop Montgomery 61: Davey Harris finished with 26 points, nine rebounds and four assists for Windward.
JSerra 72, Pasadena 66: The Lions won in overtime. Jaden Bailes had 21 points.
Orange Lutheran 79, Arcadia 74: Josh King scored 22 points for Orange Lutheran.
Inglewood 102, Tesoro 70: Jason Crowe Jr. finished with 34 points for Inglewood.
St. Bernard 63, La Habra 51: Chris Rupert led St. Bernard with 14 points.
Saugus 65, Culver City 64: Braydon Harmon came through with 44 points and 14 rebounds for Saugus. The Centurions came back from a 15-point deficit in the fourth quarter.
Brentwood 61, Long Beach Poly 55: AJ Okoh delivered a 31-point performance for the Eagles, who will face Fairmont Prep on the road Friday. Fairmont Prep eiminated Crossroads.
Loyola 72, Los Alamitos 64: Deuce Newt had 24 points for the Cubs.
Eastside 65, Redlands East Valley 61: Christian Duran led Eastside with 18 points.
Rolling Hills Prep 50, St. Monica 47: Kawika Suter had 15 points and 11 rebounds for Rolling Hills Prep.
Oakwood 72, San Bernardino 69: Dylan Williams had 19 points and 14 rebounds and Bryce Fletcher added 18 points for Oakwood.
Rancho Christian 78, St. Francis 59: With 7-4 center Cherif Millogo not playing, St. Francis was beaten in its playoff opener. Luke Paulus had 17 points.
Long Beach Millikan 79, Thousand Oaks 34: Freshman guard Quali Giran had 21 points.
Murrieta Mesa 71, Viewpoint 58: Murrieta Mesa advances in the Division 3 playoffs.
MIra Costa 57, Oaks Christian 56: Paxx Bell scored 15 points for Mira Costa.
Fairfax 66, Birmingham 58: Chris Stokes scored 22 points to help the Lions upset No. 3-seeded Birmingham in the City Section Open Division playoffs. Fairfax will face Cleveland, a 57-52 winner over Narbonne, in the semifinals on Feb. 21. Charlie Adams scored 23 points for Cleveland.
Palisades 72, El Camino Real 45: Top-seeded Palisades received 23 points from EJ Popoola and will face San Pedro in an Open Division semifinals on Feb. 21 at L.A. Southwest College.
San Pedro 51, Washington Prep 47: The Pirates won on the road to reach the Open Division semifinals. AJ Bobich made four free throws in the final 30 seconds and finished with 10 points. Chris Morgan led the way with 15 points and Ricky Alonso had 12.
Sun Valley Poly 44, Westchester 36: The Parrots eliminated defending City Open Division champion Westchester in a Division I opener. Kevin Lara scored 15 points for Poly.
Carson 68, LACES 53: Mekhi Williams had 28 points and Blake McCall 21 points and 11 rebounds for the Colts in a City Division II game.
Crenshaw 69, Grant 58: Lauran Coleman had 20 points for the Cougars in a Division I opener.
Eagle Rock 53, University 51: Skylar Melton scored 27 points for University in the Division II loss.
SACRAMENTO — David Crane is a gifted investment banker who shared his expertise with government until he was dumped from a state board that invests teacher retirement funds.
Lawmakers bounced him from the board, one of the biggest players on Wall Street, after he repeatedly questioned whether state pension funds could earn enough to keep paying retirement benefits to teachers and other politically powerful employees.
Democratic legislators, who receive millions in campaign donations from teachers unions and other government labor groups, said it wasn’t Crane’s job to meddle in investment forecasts. California’s numbers are in line with those of other states, they note, and its pension investments have beat projections over the last 20 years.
But Crane, a close friend of Gov. Arnold Schwarzenegger, represents a cadre of market gurus who see investment profits flattening. They worry that state pension systems are heading down the same path as corporate retirement plans that hit trouble after failing to meet rosy earnings projections.
Several government pension plans are already deep in the red. Standard & Poor’s reported in February that 13 states are likely to have less than 75% of the cash needed for promised benefits.
In Crane’s corner are such financial heavyweights as investor Warren Buffett; John C. Bogle, founder of investment giant Vanguard Group Inc.; and William Bernstein, author of “The Four Pillars of Investing.”
The stakes are huge — especially for California, which has more than $350 billion in retirement funds covering teachers and other public employees. Falling short of the nearly 8% return that state money managers project for those funds could create deficits of tens of billions of dollars.
Taxpayers would have to ante up; retirees’ benefits are locked in by contract. Elected officials could be forced to raise taxes, cut services or borrow money. California’s teacher retirement fund already has a projected $20-billion shortfall.
“It is a very real problem,” Bogle said. “The financial consequences are staggering.”
A decade of returns at the rate Buffett has set for retirement plans at his companies — 6.4% — would leave California short more than $90 billion. That is more than the entire state budget for health and human services this year, and several times what the state is spending on its university system.
The Legislature has spurned such restrained forecasts.
Lawmakers in June rejected Crane’s appointment to the teacher retirement board by Schwarzenegger, after he had served almost a year. State Senate leader Don Perata (D-Oakland) said the job of trustees is “only to protect members’ benefits” — not to worry about the long-term effects of the benefits on the state budget.
Crane, who helped build a San Francisco investment firm that has arranged $250 billion in financings, said at his confirmation hearing: “Bless them if they can make it” to 8%. “I would assume a lower number. And I think there is a lot of evidence to back up my view.”
Bogle said he thinks California officials “are dreaming.”
Opponents of Crane, a Democrat, called him the operative of an administration eager to undermine the political power of public employee unions. Schwarzenegger, a Republican, campaigned last year to eliminate pensions for all new government workers and replace them with 401(k)-style accounts. The unions fought him, and he dropped the issue.
Many labor leaders and pension officials characterize as bogus the alerts being raised about the funds’ soundness.
“This is another way that folks who would like to see these benefits go away can undermine the plans,” said Pat Macht, spokeswoman for the California Public Employee Retirement System.
Macht notes that state pension investments have yielded returns averaging 9.2% over the last decade. That includes the 12 months that ended June 30, when profits on state investments exceeded 12%.
Stanford University professor William F. Sharpe, who won a Nobel Prize in economics, helped California develop its forecasts. And the state’s assumptions are in line with the predictions of economist Roger Ibbotson, whose predictions over the last 30 years have been uncannily accurate.
But author Bernstein, who is also a portfolio manager for wealthy individuals, is troubled that those who question the state’s numbers are brushed aside as partisans.
“This is not a right- or left-wing issue,” said Bernstein, a Democrat. “This is an issue of whether or not you can add.”
Bernstein notes that as the outlook for domestic stocks dims, California and other states are moving more of their money into risky places, such as high-tech start-ups, real estate and hedge funds. Returns on such investments are erratic, he said, and could easily fall short of standard stock market index funds over time.
Meanwhile, as corporate America has scaled back retirement benefits in recent years, California has headed in the opposite direction, enhancing benefits through legislation and contract negotiations with public employee unions. The result is the most generous public pensions of any state.
Under former Gov. Gray Davis, who received millions in campaign donations from unions, retirement packages for state workers were sweetened.
Davis signed legislation that based the pensions for many California workers on the highest annual income they earn while government employees; other states use an average of the top three years of earnings.
In addition, the age at which some employees could begin collecting was dropped to 50, and annual retirement payments were increased substantially.
When Schwarzenegger ousted Davis in the 2003 recall election, he made changing the pension system a centerpiece of his agenda, highlighting what he characterized as runaway costs.
Yet the 18 labor contracts negotiated by his administration have left in place most of the benefits the governor said the state can’t afford; the few concessions that union officials traded for pay increases did little to lower future retirement costs.
Long-serving state employees in California “can receive more annual income in retirement than when they worked,” according to a legislative report released last year.
The report said that when Social Security payments are factored in, “It takes just 20 to 30 years of work (that is, less than a full career) to have retirement income … equal to working pay.”
A typical 55-year-old government employee who earns $60,000 and has worked for the state for 20 years is entitled to $25,000 a year, plus Social Security and lifelong healthcare benefits. In most other large states, the pension for the same employee, if eligible at 55, would be less than $15,000 a year — thousands less in some states — plus health benefits.
Defenders say the state is well positioned to cover these costs.
“Reasonable people disagree about what the markets can do long-term,” said John Meier, a managing partner at Strategic Investment Solutions, a San Francisco firm that helps the state make projections.
Forecasts are made through a collaboration of actuaries, economists and investment experts from state government and private firms. They gauge the historical returns of various investment types, the outlook for growth in those places and the assumptions being used by other institutional investors.
“Our organization and a lot of other organizations believe that
Arizona and Virginia project an 8% return. Colorado and Pennsylvania anticipate 8.5%.
That’s all fine, said Zvi Bodie, a professor at Boston University School of Management, but there are no guarantees — and there’s the rub. Some experts are predicting a period of long-term market instability, he notes, and the state can’t afford to be off by a percentage point or two.
“Every study we have of stock market behavior says one thing we know for sure is: We don’t know for sure,” he said. “It is risky. There is no free lunch here.”
Bodie says the pressure for state number-crunchers to project strong earnings indefinitely is intense.
Optimistic projections free lawmakers from having to pull billions of dollars out of other state programs to increase the taxpayer contribution to the pension funds.
Meanwhile, officials at the California State Teachers Retirement System announced at a recent meeting that they are poised to raise investment in such risky areas as high-tech start-ups by roughly 67%.
“If they lose money, someone is going to have to bear that risk,” said Olivia S. Mitchell, executive director of the University of Pennsylvania Wharton School’s Pension Research Council. “Politicians today have promised benefits without explaining what will happen down the road if the system runs short.”
Times staff writer Dan Morain contributed to this report.
Bas de Leede starred with both bat and ball as the Netherlands opened their account in the T20 World Cup with a convincing seven-wicket victory over Namibia.
The Netherlands suffered a narrow defeat by Pakistan after giving their opponents a major scare in the opening game of the tournament in Colombo on Saturday but bounced back impressively in Delhi.
Chasing a target of 157, all-rounder De Leede, who had already picked up two key Namibia wickets, crafted an unbeaten 72 from 48 balls to guide them home with authority.
It is their biggest win in the tournament’s history while De Leede became the first Netherlands cricketer to score a half-century and take two wickets in the same match of a T20 World Cup.
Sent to bat in their first game of the tournament, Namibia made a decent start reaching 60-1 in nine overs before Logan van Beek dismissed Jan Frylinck, who scored 30 off 26 balls.
Namibia’s momentum was further halted by De Leede, who sent back their captain Gerhard Erasmus and JJ Smit for 18 and 22 respectively, while Nicol Loftie-Eaton fell to Van Beek after a 38-ball 42 as they posted 156-8.
The Netherlands lost opener Max O’Dowd early in the chase, but a 70-run third-wicket partnership between De Leede and Colin Ackerman steadied their innings before the latter departed for 32.
However, there was no stopping De Leede as he hit five fours and four sixes to seal the Netherlands win.
The Netherlands play the United States in their next match on Friday while Namibia will take on defending champions India on Thursday.
Asian markets edged higher on Monday as Sanae Takaichi’s Liberal Democratic Party (LDP) convincingly won the elections in Japan, providing greater clarity to investors worldwide.
The Japanese stock index, Nikkei 225, rose around 4%. Hong Kong’s Hang Seng jumped 1.76%, Korea’s Kospi rose 4.10%, while China’s SSE Composite Index saw a 1.41% gain.
In Europe, markets were mixed, with the STOXX Europe 600 trading less than 0.1% higher by around midday CET. France’s CAC 40 and the UK’s FTSE 100 fell, while Germany’s DAX was 0.18% higher and Spain’s IBEX 35 saw a 0.44% lift.
All eyes are now on the New York session open, with US futures trending downwards.
As for precious metals, gold is also up around 0.72% — back above $5,000 — while silver is more than 2% higher, at just under $80 per ounce.
The yen strengthened on Monday after Takaichi’s election victory, reversing six consecutive days of losses.
The PM assured the “continuation of responsible and proactive fiscal policies” after the election, although it’s unclear whether she is pursuing a weaker yen policy, highlighting that there are both advantages and disadvantages to a slide in the currency’s value.
Japan’s perceived stability
The first female Prime Minister of Japan, Sanae Takaichi, has regained a substantial amount of support for the LDP, which it had lost in recent elections due to inflation and corruption.
Following her electoral victory, Takaichi announced plans to accelerate the implementation of her campaign pledge to suspend the sales tax on food for two years.
The consequent loss of government revenue from this initiative, paired with high debt, is partially what caused a rout in Japanese bonds last month.
Nevertheless, Japan’s Finance Minister Satsuki Katayama talked down concerns over the country’s debt and the recent currency weakness, which many investors believe could prompt a rise in interest rates.
Katayama suggested utilising foreign exchange reserves to fund national expenditures. Although possible, this approach can be challenging as those reserves are usually only used for currency interventions.
The Japanese Finance Minister also underlined the ongoing collaboration and strong communication between the government and the Bank of Japan.
This assurance, together with the political stability provided by the robust mandate given to Prime Minister Takaichi, seems to have mitigated the markets’ distress — at least for the time being.
US economic reports
This week, investors worldwide are also bracing for major economic data releases in the United States, including reports delayed by the recent partial government shutdown.
The focus will be on the January jobs report on Wednesday and the January consumer price index (CPI) which comes out on Friday.
The delayed payrolls report is expected to show modest gains of roughly 60,000 jobs while the CPI is estimated to show inflation cooling to 2.5%.
Together with the release of these reports, multiple Federal Reserve governors, including Christopher Waller and Stephen Miran, are scheduled to speak throughout the week.
Investors are paying particular attention to the language used by members of the Fed to gauge the new policy line, following the announcement of Jerome Powell’s successor, Kevin Warsh, as the next Federal Reserve Chair.
Warsh is set to take over in May 2026, pending Senate confirmation.
President Donald Trump picked Kevin Warsh as a figure whose public and private track record is likely to reassure the financial markets. Warsh has advocated lower rates and a reduction in the central bank’s balance sheet.
