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Disney D23 2026 Entertainment Showcase: Every Major Announcement (Updating Live!)
Follow our live coverage of the Disney D23 2026 Entertainment Showcase. We are tracking every potential announcement, trailer, and exclusive from Marvel, Star Wars, Pixar, and more.
Firefighters rescue kittens from Decatur business fire
Firefighters rescued a litter of kittens while responding to a business fire in Decatur Thursday morning.
Leak uncovers design changes coming with One UI 9.5 to Galaxy phones
A fresh One UI 9.5 leak reveals subtle design polish and AI search in the Phone app coming soon to Samsung Galaxy devices.
'The lance head was still inside the pelvis:' Mass grave found in Austria may hold casualties of unknown ancient Roman battle
A new analysis of skeletons recovered from an ancient mass burial has revealed a surprising number of groin injuries.
Sally Field reveals she improvised one of most iconic lines in ‘Mrs. Doubtfire’
Sally Field’s reaction to learning the truth in ‘Mrs. Doubtfire’ has become iconic, but she came up with it on the spot.
Jared Kushner to visit Israel and Egypt next week with Board of Peace officials to talk Gaza
President Donald Trump’s son-in-law and negotiator Jared Kushner will travel to the Middle East next week to try to advance plans for an end to the conflict in Gaza after a deal recently announced by the Trump administration ran into Israeli opposition
Entertainment headlines for Thursday, Aug. 13 with 95.7 The Jet
Mireya and Bender give the breakdown on Thursday's episode of Studio 13 Live.
Bowling Green business loses nearly $5,000 in tools; suspect seen on camera
Bowling Green business loses nearly $5,000 in tools; suspect seen on camera.
Triangle Group Raises $15 Million To Scale Asia-Pacific Live Entertainment Platform
Triangle Group has raised $15 million in equity and venture debt to expand its live touring and festival infrastructure across Asia-Pacific. The financing consists of a $10 million equity seed round led by DSG Consumer Partners, with participation from Golden Gate Ventures, the Oberoi Family Office, and angel investors, along with a $5 million venture debt facility from Genesis Alternative Ventures.
N.J. towns, school districts owe millions to public worker health plans
Some districts that disenrolled years ago haven’t settled debts.
U.S. Investigated Left-Leaning Groups During Minnesota Immigration Crackdown
The government conducted expansive surveillance, infiltrated group chats and obtained financial records of organizations never accused of crimes.
McMahon retains counsel in legal fight over term limits
The Onondaga County executive obtained legal representation in the board of elections battle.
California Dem ripped for 'perverted agenda' ahead of fundraiser at risqué nightclub
Marni von Wilpert is hosting a congressional campaign fundraiser at a San Diego nightclub known for LGBTQ nightlife and adult-themed specials.
Why Trust, Not Tech, Will Determine AI Adoption In Business Travel
Trust will drive AI adoption. In this interview AMEX GBT exec talks about how trust impacts usage.
No One Wants to Talk About the Debt | WSJ Politics Newsletter for Aug. 13
Plus, Iran has an ability to make the Strait of Hormuz too risky to cross with limited firepower, and progressives have a reckoning in the Midwest.
Chatbots are doing the work of Congress with little oversight
From writing speeches to sorting constituent mail, AI is spreading through Congress faster than the rules governing its use.
Jayden Daniels Takes Legal Action Against Louisiana State
The Louisiana State Tigers are one of the most successful football programs in the nation.LSU is one of few other programs that have yielded multiple Heisman Trophy victors. Unfortunately, it appears as if they find themselves on less-than-ideal terms with one of the winners.ESPN obtained a copy of a letter sent by Jayden Daniels‘ legal […] The post Jayden Daniels Takes Legal Action Against Louisiana State appeared first on HEAVY.
Businesses on Maryland Parkway say road construction is hurting revenue
Business owners near Maryland Parkway and Sierra Vista say ongoing road construction is decimating their revenue.
Unearthed interview exposes Dem senator's past support for reparations: 'There is a debt unpaid'
Jon Ossoff said in 2019 he would support reparations legislation, calling slavery a "debt unpaid." His resurfaced comments now raise questions.
Warnock Leads Inquiry into State Department Efforts to Seek Personal Health Data in Exchange for Aid to Developing Nations » Reverend Raphael Warnock
In a new letter, Senator Reverend Raphael Warnock presses the Trump Administration on their efforts to obtain personal health data from African countries in exchange for global health funding The Trump Administration has requested direct, real-time access to the health data of citizens in Uganda, the Democratic Republic of the Congo, Kenya, Liberia, and several […]
Lazarus Exploits Windows Zero-Day to Gain SYSTEM Access and Deploy Backdoor
Lazarus-linked attacks exploit Windows CVE-2026-68820 as a zero-day to gain SYSTEM access and deploy Troy against defense and aerospace firms.
Why Were Polls So Wrong in the Wisconsin Governor’s Race?
Francesca Hong, the democratic socialist running in Wisconsin’s Democratic primary for governor, had a double-digit lead in polls as recently as last week. Then she lost. What happened?
Fans Try To Decipher The Elder Scrolls VI’s Censored Subtitle
Xbox CEO Asha Sharma just played 'The Elder Scrols VI' and both she and Bethesda are censoring its subtitle with a specific number of letters.
Consumer Debt Data Shows ‘Overall’ Health Amid Persisting Divides
Homeowners with low fixed-rate mortgages lead a resilient picture of the economy. But many consumers are frustrated with declining real wages and other loans.
State Meditates Another Huge Pay Bump for Oregon Health Plan Operators
The proposal, which is preliminary, comes as alarm bells clang over runaway medical inflation.
Trump’s vaccine order hands some MAHA voters a win. It also gives Democrats an attack line
President Donald Trump's executive order to change the childhood vaccine schedule could endear him to some “Make America Healthy Again” voters who want more flexibility on immunization.
Ann Widdecombe: the redoubtable Tory politician turned TV personality
Known for her uncompromising ‘carapace’, Widdecombe enjoyed a second lease of life as a TV personality later in her career
Lexington County could take on $74 million in debt for a sports complex
The Lexington County Recreation Commission is proposing a multi-sports complex off Interstate 77, but there are questions about how it will be paid for.
Oil rises as doubts over US-Iran deal heighten supply concerns
Oil prices rose on Wednesday morning as doubts about a U.S.-Iran peace deal and attacks on two ships fuelled concerns about Middle East supply disruptions, even as industry data showed U.S. crude inventories expanded.
The Trevor Project Condemns New Federal Rule to Restrict Health Care for Transgender Youth in the U.S.
Your Support Saves LGBTQ+Youth's Lives Every DayDonateResearch shows that access to transgender health care is associated with significantly lower rates […]
Oracle is planning another round of job cuts this month
The potential layoffs reduce Oracle's payroll as it racks up billions in debt to fund AI infrastructure.
Xbox CEO Gets Elder Scrolls 6 Demo, Teases the Subtitle
Xbox CEO Asha Sharma got to see a "live playthrough" of The Elder Scrolls 6, and she posted her reactions on social media afterwards. She also teased – in the vaguest of ways – the subtitle for the upcoming RPG.
Why GameStop’s bold $56-billion play for eBay is suddenly in doubt
(Bloomberg) -- GameStop Corp., led by Chief Executive Officer Ryan Cohen, is considering withdrawing its $56 billion bid for eBay Inc., according to people familiar with the matter.
WEBTOON Entertainment Announces Participation in Upcoming Investor Conferences
WEBTOON Entertainment will participate in two upcoming investor conferences in August and September 2026.Quiver AI SummaryWEBTOON Entertainment Inc. has announced its participation in two upcoming investor conferences: the Deutsche Bank 2026 Technology Conference on August 26 in Dana Point, CA, and the Goldman Sachs Communacopia + Technology Conference on September 10 in San Francisco, where it will present at 4:25 PM PT. The Goldman Sachs presen
WEBTOON Entertainment Inc. to Participate in Upcoming Investor Conferences
LOS ANGELES, Aug. 11, 2026 (GLOBE NEWSWIRE) -- WEBTOON Entertainment Inc. (Nasdaq: WBTN) (“WEBTOON Entertainment” or “the Company”), a leading global entertainment company and home to some of the world’s largest storytelling platforms, today announced it will participate in the following upcoming investor conferences: Deutsche Bank 2026 Technology ConferenceAugust 26, 2026Location: Dana Point, CA Goldman Sachs Communacopia + Technology ConferenceSeptember 10, 2026Presentation Time: 4:25 PM PTLoc
Yankees receive $2.6 billion in deal with private equity fund
The Yankees may use the money to handle debt and pursue new ventures.
Doral bets $738 million on its U.S. renewable energy business
The Israeli company will more than double its stake in Doral LLC to 53.2%, valuing the American subsidiary at about $4.1 billion in the latest transaction and potentially postponing plans for a separate IPO.
A trail of business disputes preceded FBI raid on developer Andy Card
Lawsuits accused the Westfield developer of setting up 'alter ego' companies and commingling funds. Card has fought back against the allegations.
NCSOFT profit beats forecasts as Lineage W drives sales to record
Webtoon Entertainment Inc., South Korean online giant Naver Corp.'s online comics platform, is betting on gaming with its first developer acquisition to t
Who for captain? Miley or Murphy?
Miley has jumped up the pecking order in midfield with the departure of Bruno and Tonali. The club's longest serving player and a long standing member of the dressing room's leadership team, Murphy will undoubtedly be part of the group of players setting the example in the new season. With Anthony Gordon's departure meaning Harvey Barnes is more likely to play on his favoured left-side, the right wing is a battle between Murphy and Anthony Elanga.
Uniper's first-half core profit rises on stronger gas business
German state-owned utility Uniper on Tuesday reported that core profit nearly doubled in the first half of 2026, boosted by the absence of negative impact on the group's gas business that had weighed on profits a year earlier.
Webtoon Entertainment bets on gaming to expand its global IP business
Webtoon Entertainment CFO David Lee says he is optimistic about its business outlook, with the company betting on gaming to expand its global IP business, while leveraging AI to promote human creativity and deepen fan engagement.
Webtoon Entertainment bets on gaming to expand its global IP business
Webtoon Entertainment CFO David Lee says he is optimistic about its business outlook, with the company betting on gaming to expand its global IP business, while leveraging AI to promote human creativity and deepen fan engagement.
Homeland Security intensifies pursuit of noncitizens on voter rolls
Immigrants who said they inadvertently registered to vote while obtaining or renewing driver’s licenses are increasingly facing deportation under the Trump administration.
Philadelphia Eagles and Dunkin' present $25,000 donation to Leveling the Playing Field
Dunkin’s Annual "Touchdowns for Kids" Program Helps Expand Access to Youth Sports Across Greater Philadelphia
Kuehn Law Encourages Investors of WEBTOON Entertainment Inc. to Contact Law Firm
/PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of WEBTOON Entertainment Inc....
Chrissy Metz Talks '& Juliet' and New Music, Shares Health Update
Chrissy Metz, “This is Us” and “The Hunting Wives” star, joins TODAY to open up for the first time about her decision to use GLP-1 medication and announce her new partnership with health care company Ro. Metz details why she was originally skeptical around weight loss drugs, shares how the medication has improved her life, dishes on performing in “& Juliet” and teases new music in the works.
How children, good lyrics, and love brought me around to country (ish) music
I never understood the appeal of country music. Growing older showed it to me.
Noah Hiles: Late season collapses are what the Pirates do best
I was really hoping I wouldn’t have to write this column. While I’ve had my doubts about this Pirates team from the very beginning, there was...
Health-care facilities promote ways to protect seniors during dangerous heat waves
Senior Helpers of Central Mississippi promotes ways to keep seniors protected during high temperatures.
PHOTOS: Metro Health offers back-to-school vaccines for Immunization Awareness Month
WOAI NBC News Channel 4 San Antonio provides local news, weather forecasts, traffic updates, investigations, and items of interest in the community, sports and entertainment programming for San Antonio and nearby towns and communities in South Central Texas, including Windcrest, Uvalde, Universal City, Somerset, Seguin, Schertz, San Marcos, Sabinal, Poth, Poteet, Pleasanton, Pearsall, New Braunfels, Live Oak, Kerrville, Hondo, Helotes, Goliad, Fredericksburg, Floresville, Eagle Pass, Devine, Del Rio, Cuero, Crystal City, Converse, Cibolo, Castroville, Carrizo Springs, Boerne, Bandera.
Morning Mail: inside the political ‘meme factories’; China questions detainee’s death; Netanyahu rejects Trump’s Gaza plan
‘Buzzer’ economy drumming up outrage online; China’s ‘grave concern’ over death in detention; Trump’s Gaza peace plan in doubt
Boys & Girls Clubs of Maui Back-to-School Health Fair draws more than 450 families
The Boys & Girls Clubs of Maui connected more than 450 families with health and wellness resources during its annual Back-to-School Health Fair on July 24 at Queen Kaʻahumanu Center in Kahului.
Remote Area Medical brings free health clinic to Bennington
Remote Area Medical is holding a free two-day dental and vision clinic at Mount Anthony Union Middle School in Bennington — the organization’s fourth visit to the area.
WEBTOON ENTERTAINMENT Q2 2026 Earnings Preview: Recent $WBTN Insider Trading, Hedge Fund Activity, and More
WEBTOON ENTERTAINMENT ($WBTN) is expected to release its quarterly earnings data on Monday, August 10th after market close, per Finnhub. Analysts are expecting revenue of $346,249,710 and earnings of -$0.07 per share.You can see Quiver Quantitative's $WBTN stock page to track data on insider trading, hedge fund activity, congressional trading, and more.WEBTOON ENTERTAINMENT RevenueWEBTOON ENTERTAINMENT had revenues of $320.9M in Q1 2026. This is
Overcrowding, drugs and health crisis behind Mecklenburg jail deaths, sheriff says
Recent deaths spark state investigations as leaders remain split on reopening Jail North
2 men charged after robbing Davie County business at gunpoint, deputies say
Investigators obtained surveillance video that authorities said showed two masked suspects armed with pistols entering the business and forcing people back inside.
PENN Entertainment (PENN) Stock Profit Rebound Faces Lingering Digital Doubts
PENN Entertainment stock barely moved on the results, edging up about 0.3% to US$20.18, even though the earnings story was anything but sleepy. Q2 flipped back into the black with basic earnings per share of US$0.25 and net income of US$33.1m. Retail casinos produced record quarterly revenue and adjusted earnings before interest, taxes, depreciation, amortization and rent that management highlighted on the call. The market reaction looks muted for now. The real question for investors is how...
LGBTQ advocates prep for a difficult campaign against 'Protect Girls Sports in Arizona Act'
Arizona already forbids trans girls from joining school sports teams that align with their gender identity, but Republicans want to ban them from school locker rooms and private sports leagues, too.
Cruisin’ the Coast turns 30 with new events, expanded entertainment
Cruisin’ the Coast marks its 30th anniversary this October with new events, expanded entertainment and a projected record number of vehicles along the South Mississippi coast.
Alaska officials award less than 2% of rural healthcare funding, postponing decision on remainder
The state Department of Health awarded $4.5 million out of $272 million in federal funds available.
Late setbacks cast doubt on Protect College Sports Act as deadline looms
After some late setbacks, the Protect College Sports Act faces long odds as time ticks down before the August Congressional recess
Business reacts to ‘disturbing’ viral video that appears to show man punch woman on Charlotte sidewalk
Paper Skyscraper's sign appeared in the background of a viral assault video.
Tech, manufacturing companies plan Vegas-area moves with tax incentive approval
An advanced technology company supporting artificial intelligence is one of four businesses expanding their operations to Southern Nevada after their requests for tax incentives were approved by st...
I read Microsoft's Windows 11 'quality' progress report - and the subtext says it all
Microsoft's latest progress report details much-needed Windows 11 improvements in reliability, performance, stability, and usability. But here's what else I see.
Blanche's attorney general confirmation is in doubt as GOP Sen. Murkowski opposes his nomination
Republican Sen. Lisa Murkowski said Friday she will oppose Todd Blanche’s nomination as attorney general, narrowing the confirmation path for President Donald Trump’s pick to lead the Justice Department.
Business Restructuring Review Vol. 25 No. 4 July-August 2026
In This Issue New York Bankruptcy Court: Premature Allegations of Creditor Mistreatment Insufficient to Deny Chapter 15 Recognition of Foreign Restructuring Proceeding In In re ARD Finance, S.A., No. 25-12794 (MG), 2026 WL 817458 (Bankr. S.D.N.Y. Mar. 25, 2026), the U.S. Bankruptcy Court for the Southern District of New York was presented with a petition seeking chapter 15 recognition of Luxembourg's recently enacted bankruptcy law governing judicial reorganization proceedings. The court granted the petition, turning aside challenges to recognition voiced by a creditor group arguing that recognition should be denied based upon allegations of unfairness to creditors in the Luxembourg proceeding that would make recognition manifestly contrary to U.S. public policy. According to the bankruptcy court, recognition was warranted because: (i) the rules and procedures governing the proceeding under Luxembourg law were fundamentally fair; (ii) the petition otherwise satisfied chapter 15's recognition requirements; and (iii) the creditor group's allegations were premature, given the fact that the Luxembourg court presiding over the debtor's restructuring proceeding had not confirmed a restructuring plan, and all creditors had the right to participate fully and voice their objections in the proceeding (including the right to appeal an order approving a plan). [read more …] Florida Bankruptcy Court Examines Scope of Discovery in Chapter 15 Cases In In re Banco Master, S.A., No. 25-24568-SMG, 2026 WL 931729 (Bankr. S.D. Fla. Apr. 6, 2026), the U.S. Bankruptcy Court for the Southern District of Florida granted in part and denied in part post-recognition motions filed by an insider of a foreign debtor seeking to bar or limit discovery sought by the debtor's foreign representative concerning allegedly voidable transfers involving the debtors' U.S. real property. According to the court: (i) although chapter 15 includes its own discovery provisions among the relief that may be granted to a foreign representative, the expansive discovery available in cases under other chapters of the Bankruptcy Code is also available in chapter 15 cases; (ii) the discovery sought by the foreign representative was permissible; (iii) discovery regarding matters that were the subject of a pending adversary proceeding had to be undertaken under the more restrictive rules applicable to such proceedings; and (iv) a discovery request would be barred to the extent that it sought production of documents or testimony from a subpoenaed entity that exceeded the geographic limitations specified in such rules. [read more …] Delaware District Court Affirms Chapter 15 Recognition Order Enforcing Nonconsensual Third-Party Releases In U.S. Int'l Dev. Fin. Corp. v. Credito Real S.A.B. de C.V. SOFOM, E.N.R. (In re Credito Real S.A.B. de C.V. SOFOM, E.N.R.), 677 B.R. 192 (D. Del. 2026), appeal filed, No. 26-2356 (3d Cir. June 5, 2026), the U.S. District Court for the District of Delaware affirmed a bankruptcy court order granting chapter 15 recognition to a Mexican "concurso mercantile" proceeding and enforcing nonconsensual third-party releases approved by the Mexican court. Agreeing with the bankruptcy court that the releases were not manifestly contrary to U.S. public policy, the district court concluded: "It is well settled that U.S. bankruptcy courts can give effect to foreign orders in recognized foreign proceedings pursuant to the authority granted in Chapter 15, even when those orders contain relief unavailable under U.S. law. [The appellant's] arguments misconstrue the Supreme Court's narrow holding in Purdue, applicable in Chapter 11 cases, as well as the statutory framework of Chapter 15 and its core policy objectives. Accordingly, I will affirm the Enforcement Order." The ruling has been appealed to the U.S. Court of Appeals for the Third Circuit. [read more …] Fifth Circuit: Bankruptcy Court, Not State Court, Had Jurisdiction to Allow or Disallow Administrative Expense Claim In Storey Minerals Ltd. v. EP Energy E&P Co., LP (Matter of EP Energy E&P Co., LP), 169 F.4th 609 (5th Cir. 2026), the U.S. Court of Appeals for the Fifth Circuit affirmed lower courts' rulings disallowing a creditor's administrative expense claim. It also rejected the creditor's argument that, because the claims were predicated on state law, a state court should adjudicate the merits of the state law causes of action before the bankruptcy court could allow or disallow the claim as an administrative expense. According to the Fifth Circuit, even though the causes of action were based on state law, the bankruptcy court had jurisdiction to determine whether the creditor's claims should be conferred with administrative expense priority in the debtors' chapter 11 case. [read more …] New York Bankruptcy Court: Dismissal of Involuntary Chapter 11 Case Filed Prior to Commencement of Foreign Restructuring Proceeding Unwarranted In In re Xinyuan Real Estate Co. Ltd., No. 25-10745 (PB), 2026 WL 592250 (Bankr. S.D.N.Y. Mar. 3. 2026), the U.S. Bankruptcy Court for the Southern District of New York considered the bona fides of an involuntary chapter 11 petition filed by certain holders of U.S. dollar-denominated notes against a holding company for a group of Chinese property development companies that filed a restructuring proceeding in the Cayman Islands after the noteholders filed the involuntary chapter 11 petition. The court denied the debtor's motion to dismiss the chapter 11 case. Given the timing of the filing of the Cayman Islands restructuring proceeding, the absence of any progress in the proceeding for seven months, the debtor's need to restructure notes governed by U.S. law, and the debtor's lack of any meaningful contacts to the Cayman Islands, dismissal of the chapter 11 case was unwarranted under the applicable provision of the Bankruptcy Code, international comity, or the doctrine of forum non conveniens. [read more …] Bankruptcy Court Evaluates Trustee's Authority to Sell Avoidance Actions and Right of Target Defendants to Object In In re Law Enf't Officers Sec. Union, No. 24-70277-JAD, 2026 WL 560452 (Bankr. W.D. Pa. Feb. 27, 2026), a chapter 7 trustee sought court approval to sell certain avoidance actions to a creditor of the debtor's estate. Potential targets of the subject avoidance actions objected, arguing that such claims were nontransferable powers of the trustee rather than saleable estate property and urging the court to approve their competing settlement with the trustee. The U.S. Bankruptcy Court for the Western District of Pennsylvania disagreed with the potential defendants, holding that they lacked standing to object to the proposed sale, that avoidance actions are indeed estate property, and that the sale—rather than the settlement—best served the estate's interests. [read more …] U.S. Supreme Court Bankruptcy Roundup in Brief In Keathley v. Buddy Ayers Construction Inc., No. 25-6, 2026 WL 1686028 (U.S. June 11, 2026), the U.S. Supreme Court overturned a Fifth Circuit decision judicially estopping a chapter 13 debtor from asserting a personal injury claim against a construction company because the debtor failed to disclose the claim during his bankruptcy case. In so ruling, the Court held that "[t]he Fifth Circuit erred by artificially narrowing its inquiry to whether the debtor had knowledge of the underlying facts or a potential motive to conceal the claim." It represents the first time that the Court has applied judicial estoppel in the bankruptcy context, although it has suggested in other contexts that it may be inappropriate where an inconsistent legal position resulted from "inadvertence or mistake." Also in June, the Court denied petitions for certiorari in a few notable bankruptcy cases. [read more …] Newsworthy Heather Lennox (Cleveland/New York) (Star Individual), Bruce Bennett (Los Angeles) (Senior Statesperson), Kevyn D. Orr (Washington) (Eminent Practitioner), Gregory M. Gordon (Dallas) (Band 1), Carl E. Black (Cleveland), Corinne Ball (New York) (Senior Statesperson), Brad B. Erens (Chicago), Jeffrey B. Ellman (Atlanta), T. Daniel Reynolds (Cleveland), and Dan T. Moss (Washington/New York) were recognized as leading lawyers in the practice area Bankruptcy/Restructuring in the 2026 edition of Chambers USA: The World's Leading Lawyers for Business. The 2026 edition of Lawdragon 500 Leading Bankruptcy and Restructuring Lawyers ranked the following lawyers: Corinne Ball (New York) (Hall of Fame), Bruce Bennett (Los Angeles), Carl E. Black (Cleveland), Jeffrey B. Ellman (Atlanta), Brad B. Erens (Chicago), Gregory M. Gordon (Dallas), Heather Lennox (Cleveland/New York), Joshua M. Mester (Los Angeles), and Kevyn D. Orr (Washington). Fabienne Beuzit (Paris) and Jasper Berkenbosch (Amsterdam) were among the "Leading Individuals" ranked in the 2026 edition of The Legal 500 EMEA guide in the field of Restructuring and Insolvency or Insolvency. Rodolphe Carrière (Paris) was named a "Next Generation Partner" in the practice area Insolvency. Sid Pepels (Amsterdam) was selected by Global Restructuring Review's 40 under 40 2026. He was identified as a Rising Star within the global cross-border restructuring community. Global Restructuring Review is a leading digital subscription service, news outlet, and information platform dedicated exclusively to cross-border insolvency and corporate restructuring law. Fabienne Beuzit (Paris), Rodolphe Carrière (Paris), and Isabelle Maury (Paris) were recognized in the 2027 edition of The Best Lawyers in France™ in the practice area Insolvency and Reorganization Law. An article written by Corinne Ball (New York) titled "Comity and Fairness are Critical to Granting Additional Assistance under Chapter 15: A Canadian Reverse Vesting Order and Related Releases in Proceedings Involving Canadian and U.S.-Affiliated Companies Are Approved" was published in the June 24, 2026, edition of the New York Law Journal. An article written by Caitlin K. Cahow (Detroit) titled "New York Bankruptcy Court Weighs In on Adequate Assurance of Future Performance under Assigned Leases and Chapter 11 Plan Exculpation Provisions" was published on June 8, 2026, in Lexis Practical Guidance. An article written by Trisha L. Mowbray (Real Estate; Chicago) and Ryan Sims (Washington) titled "Chapter 11 Plan that Abridged Non-Debtor Lessee's Rights to Remain in Possession After Rejection Unconfirmable as Having Been Proposed in Bad Faith" was published on June 16, 2026, in the Harvard Law School Bankruptcy Roundtable. An article written by Dan T. Moss (Washington/New York), Corinne Ball (New York), Isel M. Perez (Miami), and David S. Torborg (Washington) titled "Texas Bankruptcy Court Adopts Barnet Rule Requiring Foreign Debtor to Have U.S. Assets to Be Eligible for Chapter 15 Relief" was published on June 10, 2026, in Lexis Practical Guidance. An article written by Daniel J. Merrett (Atlanta) and Nathaniel Parr (Atlanta) titled "Southern District of Texas Clarifies Post-Purdue Course for Consensual Third-Party Releases and Gatekeeping Provisions" was published on June 11, 2026, in Lexis Practical Guidance. An article written by Corinne Ball (New York) titled "LMEs, Sophisticated Investors and Equitable Mootness: The Fifth and Third Circuits Warn Against Testing the Limits of Chapter 11" was published in the June 2026 issue of the American Bankruptcy Institute Journal. Nicholas J. Morin (New York) was quoted in an article titled "Serta Ruling Offers Damages Road Map in Lender-on-Lender Disputes," published by Bloomberg Law on July 7, 2026. The article discussed U.S. Bankruptcy Judge Christopher Lopez's July 7, 2026, ruling that participating lenders in Serta Simmons Bedding's 2020 non-pro rata uptier exchange breached the credit agreement's ratable-sharing provision, and awarding excluded lenders more than $261 million in damages. The opinion resolves six years of litigation related to Serta's 2020 transaction, where it raised $200 million in new financing and exchanged $1.2 billion of term loans for $875 million in superpriority debt. Judge Lopez found that the debt-for-debt exchange constituted a "payment" under the credit agreement, requiring proportional sharing among lenders, and dismissed various defenses raised by the participating lenders. The case is Serta Simmons Bedding LLC v. AG Centre Street Partnership (In re Serta Simmons Bedding LLC), 2026 WL 1968535 (Bankr. S.D. Tex. Jul. 7, 2026). The New York Law Journal has recognized Andrew M. Butler (New York) as a 2026 "Rising Star" in Restructuring/Bankruptcy as part of the New York Legal Awards. The Rising Star category recognizes New York's most promising lawyers age 40 and under who have distinguished themselves through exceptional legal work, leadership, and contributions to the profession. Lawyer Spotlight: Daniel J. Merrett Dan Merrett, a partner in the Atlanta Office, has spent nearly 20 years representing all manner of stakeholders in complex corporate restructurings and chapter 11 reorganizations. His practice extends to related transactions and disputes involving acquisitions; divestitures; credit facilities; securities; environmental obligations; and vendor, employee, and governance matters. Dan has substantial experience managing mass tort liabilities, including the restructurings and related chapter 11 cases of affiliates of Georgia Pacific and Johnson & Johnson, implemented to resolve asbestos and talc liabilities. He also represents key parties in energy and infrastructure matters, including facility owners, EPC contractors, and joint-venture parties. Dan was a key player in the restructuring teams in the historic bankruptcies of the City of Detroit and Chrysler. His other significant representations in chapter 11 cases include AFA Foods, Alpha Natural Resources, Dana Corporation, M&G Chemicals, McDermott International, Monster/CareerBuilder, Transtar Industries, and Westinghouse. He is licensed in both the United States and England & Wales and recognized in restructuring by Chambers USA and Best Lawyers.
"My tattoo business was the trigger for Base44"
Yuval Shlomo reflects on how the business she built sparked the creation of Base44, the AI company founded by her husband, Maor Shlomo, as she leaves tattooing behind for a career in tech.
Business owner and attorney deliver demand notice to Savannah leaders over liquor license dispute
The owner of a Savannah event venue and her attorney have sent city officials a 14-page legal demand, requesting $500,000 in lost revenue and a formal review of the West Savannah alcohol overlay that has blocked the business from obtaining a liquor license.
Free Savannah workshop to help business owners improve cash flow and profits
The UGA Small Business Development Center will offer a free Savannah workshop to help business owners improve cash flow, increase profits and access capital.
IRS adds notices, payment features to business tax accounts
Eligible businesses and organizations can now view more digital notices, make payments on installment agreements, and obtain EIN verification documents online.
IRS adds notices, payment features to business tax accounts
Eligible businesses and organizations can now view more digital notices, make payments on installment agreements, and obtain EIN verification documents online.
OpenAI’s New Device Will Be Hockey Puck-Sized and Cost Over $300
A highly anticipated new device from OpenAI will have a unique look, complete with moving parts that help give it personality, and likely cost more than $300, according to people familiar with the matter.
Xeris raises outlook despite posting $31.1 million loss
Executives argue the loss reflects a one-time accounting charge to clear outstanding debt rather than the drugmaker's performance.
Talarico gains GOP support while unveiling affordability plan
Democratic Senate candidate proposed debt relief, housing aid and tax credits. Paxton’s campaign dismissed the agenda as “half-baked.”
Falcons’ Michael Penix Jr. not 'chasing a timeline’ as health keeps improving
Falcons quarterback Michael Penix Jr. says he's focused on his recovery from an ACL tear and that he "can't worry about a starting job" while he's working his way back.
Portillo’s is cutting HQ staff by 18%
“While never an easy decision, it is imperative that we examine areas of the business where we can operate more efficiently and ensure our resources and future investments are directed at the right priorities,” CEO Brett Patterson said in a statement.
Amanda Paschoal: “Politics is built through dialogue, even with people who think differently.”
Amanda Paschoal is an activist and City Councillor in Sao Paulo, Brazil. She represents a new generation of feminist and LGBTQIA+ leaders, committed to social and climate justice. During her term, Amanda championed legislation on climate adaptation, gender equality, and environmental racism. Through her activism and legislative work, she has become a leading voice for intersectional approaches to sustainability, social justice, and the protection of marginalized communities in Brazil’s urban and political landscape.
US Stand Up for Science movement expands to Europe
A grassroots movement by scientists in the US pushing back against threats to academic freedom is setting up a Swiss outpost to take the movement global. Stand Up for Science started in February 2025 to protest against politically-motivated grant cancellations by the Trump administration. Since then, it has organised numerous rallies by scientists and turned into a broader campaigning organisation, supporting “pro-science” political candidates and attempting to impeach Robert F. Kennedy Jr, the health and human services secretary the group accuses of advancing “quack” science. Now, Stand Up for Science is establishing a Swiss office to take some of its campaigning beyond the US, and its leader is urging European academics to organise similar pro-science groups in case they face similar threats in Europe. There will likely be “spillover” to Europe from what the Trump administration is attempting in the US, said Colette Delawalla, chief executive of Stand Up for Science, who last month returned from a tour of Europe. “Are we going to see a Trump-style scientific [. . .] take over in the same way?” she asked.Delawalla, who is doing a PhD in clinical psychology, said she was driven to help found the organisation after the Trump administration started cancelling health research grants in politically taboo topics, such as transgender people, diversity and HIV, in early 2025. Since then, the administration has introduced several other measures that infringe academic and institutional autonomy.It threatened to cut Harvard University’s federal funding unless the university accepted a “critical mass” of new faculty and students to create “viewpoint diversity.” And this year, it proposed explosive new rules that would allow political appointees at research funders to screen grants to make sure they “advance the president's policy priorities.”US scientists have been at times stunned by the volume of announcements, and the country’s researchers were relatively unprepared. “We sit in front of the fire hose every day,” said Delawalla. For this reason, European scientists need to prepare now for similar assaults. “If you've got a little bit of extra time to start thinking through, and making those preparations and building community and solidarity,” then European researchers will “start five steps ahead of where we were.” She plans to return to Paris in September to share experiences with concerned French academics. Is Le Pen the same?During her European tour, Delawalla said that French academics were beginning to worry about a National Rally (RN) victory in presidential elections next year. She said there were “chilling similarities” between Trump and Marine Le Pen, the RN’s likely candidate. However, so far, the RN hasn’t proposed anything nearly as radical as the Trump administration has carried out. Its current manifesto is all but silent on university and research policy. Le Pen’s 2022 manifesto bemoaned a lack of French R&D spending, including in fundamental research, and promised to modernise labs and strip away grant bureaucracy. The party’s 2024 European election manifesto explicitly supported the Erasmus+ student exchange programme, scientific exchange and joint European technology projects. However, a Le Pen victory next year could see France drastically cut its contribution to the EU, which would hit the budget for science and innovation. Meanwhile, more restrictive immigration policies could hit university recruitment of faculty and students. Climate science denial?As heatwaves and wildfires have ravaged France, the RN has sought to distance itself from previous comments casting doubt on climate science.In the UK, the radical-right party Reform UK, now second in the polls, denied climate research in a draft of its 2024 election manifesto, but its leader, Nigel Farage, then appeared to quietly U-turn and said he was “not arguing the science.” By contrast, Trump has repeatedly and explicitly denied climate change science, in 2025 calling it “the greatest con job.” Like the RN, Reform UK has been light on research and university policy. However, it did say in its 2024 manifesto that universities should suffer “heavy financial penalties” for allowing “political bias or cancel culture” on campus, building on laws brought in by a previous Conservative government. Ahead of September state elections in Saxony-Anhalt in Germany, the poll-leading Alternative for Germany has proposed abolishing gender studies and postcolonial studies, and promised money for “critical” climate research and studies of Islam. Starts with rhetoricEven if European radical right parties aren’t currently planning the draconian policy measures of the Trump administration, Delawalla said that academics should not be complacent, and fight even small funding restrictions or anti-science talk from the start. “It starts off with sowing distrust about institutions,” she said. “It starts off with these small things, and then all of a sudden it's there.” There are other, more established science and university advocacy groups in the US aside from Stand Up for Science. But the group stands out because of Delawalla’s refusal to attempt to appear politically bipartisan or conciliatory. “I firmly believe that the US is experiencing fascism,” she said. “We’re not trying to win over the super Maga people,” she said, “and we never have been.” The lesson of the US is that even if universities or other institutions capitulate to government demands, this doesn’t save them from cuts and restrictions. “It doesn’t matter what people do,” she said. Global “pseudoscience”Another aim of Stand Up for Science’s push into Europe is to better coordinate a campaign to protect people in poorer countries from what the group describes as “pseudoscientific exploitation,” trials outside the US used to build a case against things like vaccines. Earlier this year, the group sent an investigator to Guinea-Bissau to investigate a controversial, Danish-run Hepatitis B vaccine project funded by the US Centers for Disease Control and Prevention.The study would have withheld a proven vaccine from newborns, Stand Up for Science argued in a briefing it presented to Congress, risking their health. Significantly, the research group based in Guinea-Bissau, known as Bandim, focuses on the “non-specific effects” of vaccines: impacts on health beyond preventing the target disease. Related articlesEuropean researchers sound the alarm that Trump rule changes will hit cooperationData corner: which fields of health science is the US curbing? The US ‘golden age’ science strategy: what Europeans need to know The suspicion is that the study was funded as part of an attempt to shop around for results that could help build a case against vaccines in the US, said Delawalla. “This is just code for vaccines cause autism,” she said.Bandim has put out a rebuttal of Stand Up for Science’s criticisms, arguing its work has uncovered a number of vaccine side effects, both positive and negative, which need to be taken into account in public health. However, Congressional Democrats took up the Stand Up for Science cause, and in February, Guinea-Bissau said it had permanently halted the study. WatchdogBut for Delawalla, this is not the end of the fight. Kennedy has made a number of health claims that scientists think lack evidence, such as the idea that seed oils cause inflammation, for example. Delawalla worries that more studies could be launched in poorer countries to fish around for evidence to support this agenda. Stand Up for Science is talking to African science organisations to create a kind of “watchdog” to scrutinise any further trials. “Outsourcing the investigation to some of the most vulnerable children in the world who are desperate [. . .] is fundamentally wrong,” she said.
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The Chicago Blackhawks have undoubtedly had an eventful offseason. They have added new players to their roster, including Bowen Byram, Jordan Greenway, Cole Smith, and Ian Cole. They also brought back franchise legend Patrick Kane on a two-year, $8 million AAV contract.Overall, with these moves, it is clear that the Blackhawks want to be more […] The post Blackhawks Trade Pitch Lands Flames $30M Skilled Winger appeared first on HEAVY.
Science|Business summer reads of 2026
As most people in the European research and innovation policy bubble are going on a well-deserved summer break, we have come up with a list of our favourite books, podcasts and essays from the past year that ask deeper questions about science, technology and politics.BooksPasteur’s Quadrant: Basic Science and Technological Innovation, by Donald StokesIf you haven’t read Pasteur’s Quadrant yet, now is the time. In the EU and elsewhere, we’re living through a period of dwindling faith that curiosity-driven research automatically leads to economic growth and technological progress. Pasteur’s Quadrant, published in 1997 by the Princeton academic Donald Stokes, is the most influential critique of the standard “linear model” of R&D: the idea that new discoveries made in ivory-tower labs get neatly passed on for commercialisation by start-ups. In reality, Stokes argues, practical applications often inspire more theorical lines of inquiry. Of course, we have long known that things are more complex than the linear model, but even today, it’s still often assumed in Brussels discourse. The book is a useful corrective, and is being used now to argue for new types of scientific institutions. David MatthewsThe Weaponization of Expertise: How Elites Fuel Populism, by Jacob Hale Russel and Dennis PattersonAre society’s problems solvable by technical expertise alone? “If only the benighted would listen,” say Jacob Hale Russel and Dennis Patterson, two professors at Rutgers Law School who got frustrated with how scientists and politicians handled public health communication during the Covid-19 pandemic. In the book, they argue that clichéd mantras about scientific evidence and expertise perpetrated by academics, journalists and politicians have harmed public trust in the very institutions they were trying to defend. Paradoxically, slogans such as “we believe in science,” “follow the science” and “defer to the experts” can fuel mistrust in science, experts and democratic institutions. The authors criticise “condescension” and “technocratic paternalism” in the public discourse and make the case for a more nuanced approach to scientific and expert policy advice that rests on humility, doubt, scepticism and open dialogue. “Most complex social questions in fact revolve around values, not the recitation of unambiguous facts,” they say. Florin ZubascuBreakneck: China's Quest to Engineer the Future, by Dan WangIn this book, Dan Wang compares the structural differences between the US and Chinese industrial policies, but raises a very timely question for innovation policy wonks: how can advanced manufacturing know-how contribute to technology-intensive economic growth? Wang says technology has three components: the tools, the blueprints and patents, and the process knowledge. The third component represents the “proficiency gained from practical experience, which isn’t easily communicated and requires years of implementation.” According to Wang, rather than seeing tools and blueprints as the ultimate ends of technological progress, policymakers should see them as milestones in the training of better scientists and manufacturers. Over the past decades, China has amassed “process knowledge” because capital flowed to complex fabrication facilities, while investors in the West have parked their money in capital-light businesses such as digital platforms or chip companies that focus on design. As it turns out, thanks to its oversized focus on manufacturing, China has gained remarkable advantages in the global technology race. Florin ZubascuBaltic: The Future of Europe, by Oliver MoodyWhat can Europe learn from the nine countries surrounding the Baltic Sea? Alongside the familiar stories about Estonia's digital transformation, the book examines how the region has used technology, resilience, education, governance and long-term thinking to respond to geopolitical, economic and security challenges. Innovation policy wonks might find fresh perspectives on how innovation can strengthen defence, societal resilience and Europe's capacity to adapt in an uncertain world. Whether or not you agree with all of Oliver Moody's conclusions, the book is a useful guide to a region that is increasingly shaping European debates on security, competitiveness and technology. Goda NaujokaityteThe Invention of Nature, by Andrea Wulf This book chronicles the wild and adventurous life of natural science pioneer Alexander von Humboldt who at some point in the 19th century seems to have been just about the most famous person in the world. Through scientific expeditions to the Andes Mountains and to the depths of Siberia, von Humboldt contributed a host of discoveries and concepts. During his life he met and formed relationships with historical figures as different as Johann Wolfgang von Goethe, Simon Bolivar, Thomas Jefferson, Napoleon Bonaparte and Charles Darwin. He is also claimed to be the person in the world with most things named after him, a list that includes an ocean current, a penguin and a region of the Moon. Still venerated in Germany, with numerous scientific institutions named after him, von Humboldt has slipped out of public consciousness in most of the rest of the world. For anyone not familiar with him, this book does a good job of describing his fascinating life. Ole EllekrogCareless People, by Sarah Wynn-WilliamsYou may have heard this referred to as the book Meta doesn’t want you to read. The 2025 memoir from Sarah Wynn-Williams, former director of global public policy at Meta, then just called Facebook, includes explosive claims about everything from a toxic workplace culture to how the company worked with advertisers to target vulnerable teens, and the lengths it was prepared to go to in order to break into China. It’s a fascinating insight into how and why the tech company gradually shifted its approach to policy, whether in the US, Europe or Asia. Meta has denied the allegations in the book, and last year won an emergency ruling to prevent Wynn-Williams from promoting it. In response, the author is now suing her former employer. If that doesn’t make you want to read it. Martin GreenacrePodcastsThe Europeans: Europe’s anti-ElonThis podcast is a great choice for a light-hearted dose of European policy and culture news. Most of it has little to do with research, innovation and technology, but this particular podcast features an interview with Mastadon’s founder Eugen Rochko. He talks about his experience running an open-source, federated, European-made social media platform, and leaving it all behind. The conversation, which starts 14 minutes in, gently encourages us to reflect on what kind of technology we, as Europeans, want to make. Goda NaujokaityteSolarpunk and how we escape dystopiaNew technologies are very often taken from science fiction. Alberto Santos-Dumont, inventor the airship, was inspired as a child by the adventure stories of Jules Verne. OpenAI’s attempt to build a personal assistant with the voice of Scarlett Johansson was lifted from the 2013 film Her, completely ignoring the movie’s cautionary message. So if we want better tech, we need to imagine it first. Unfortunately, the state of current sci-fi is relentlessly dystopian, giving inventors precious few ideas or hope. However, a new genre, Solarpunk, which envisages a technologically advanced but ecologically harmonious future, is now taking off. The actual tech the genre imagines, such as permaculture, renewable energy or community repair workshops, while nice, isn’t all that inspiring or ambitious. But it’s a first step towards rescuing sci-fi from its pessimistic Blade Runner rut. David MatthewsEveryday AbundanceLaunched in June, Everyday Abundance is a podcast that tells the stories of the inventions we now take so for granted that we barely given them a second thought. For example, the washing machine, which liberated women from a lifetime “bent over washtubs and washboards.” Or modern dentistry, which ended the reality that “tooth pain was simply part of human life.” Historians of technology, Virginia Postrel and Charles C Mann are very much on the optimistic end of the spectrum when it comes to the capacity of invention to improve human life. Here, they set out their case: if it wasn’t for progress, you might be hunched over a washtub with toothache rather than reading these words. David Matthews‘We will not know what we lost’: Conservation fallout a year after USAID shutdownSince his return to the White House, Donald Trump has been on a mission to undermine science. He slashed jobs at federal agencies, terminated grants in some research areas, took unprecedented control over university affairs and, within hours of his inauguration, suspended the US Agency for International Development. While its initial focus was to administer health and food aid around the world, it had since expanded to conservation projects. The result? Some of these projects were stopped abruptly. In this Mongabay podcast, environmental reporter Michelle Nijhuis tells the story of the EcoGuard conservation programme in Liberia, whose local patrols had helped protect rainforests, monitor endangered wildlife and track illegal threats. From one day to the next, these were left without salaries. Luckily, she notes, the initiative was able to get emergency funding from international NGOs, but its future remains “incredibly uncertain.” Juliette PortalaEssaysThe Mars Delusion, by Henry WismayerWhy is humankind so fixated on establishing a colony on Mars? asks London-based writer Henry Wismayer. From space evangelists promoting Martian settlement as an insurance policy, to billionaire Jeff Bezos, who said humans should settle on Mars “because it’s cool,” the mission is not running short of advocates. However, in this essay, Wismayer reminds us that some critics expect any future Mars pioneer to end up “irradiated, sick, mad and dead.” Scientists have already looked into the possible effects of prolonged exposure to Martian gravity, and it’s not pretty: muscle shrinking, bones weakening, changes to the central nervous system and other biological modifications to make us all reconsider the journey. “Some researchers have forecast that the future settler, after generations of evolutionary conditioning, will look less like an Übermensch and more like ET,” Wismayer writes. Juliette Portala
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Chartbook 464 The"China squeeze" - the politics of development counterfactuals.
There are three types of China shock discourse. Each has a distinct temporal register. China shock 1.0 was a phrase coined by US academics in the 2010s to retrospectively summarize the impact on particular US labour markets, which they identified through painstaking empirical investigation. China shock 2.0 on everyone’s lips in Europe in the mid 2020s is an alarm raised by trans-Atlantic policy thinkers warning of a coming disaster which they project onto Europe’s ailing car industry. The third type of China shock discourse - commonly known as the “China squeeze” launched most recently by Indian economists Shoumitro Chatterjee and Arvind Subramanian in the pages of Foreign Affairs - mobilizes a different, more speculative temporal register: the counterfactual realm of alternate history. The China squeeze argument asks not what has happened, or what is going to happen, but what might have been. Specifically, what options for economic development might have been open to Global South economies like India or the economies of sub-Saharan Africa, had it not been for China’s spectacular industrialization since the late 1990s and the persistent competitiveness of China’s manufacture in low-skilled segments. Chatterjee and Subramanian’s argument is that whilst China has built a powerful position in electrical machinery and other high-skill manufacturing, which is now delivering China Shock 2.0, it also continues to run a trade surplus in low-skill, labour-intensive manufacturing. This surplus is large and has remained largely unchanged in fifteen years. Indeed, in the 2010s, in trade with low-income countries, China’s surplus rapidly increased. On their reading, this squeezes low-income producers in low-skill sectors in which they “should” be able to compete. Source: “China’s Mercantilist Squeeze on Developing Countries” Shoumitro Chatterjee and Arvind Subramanian. Peterson Institute for International Economics 26-7 May 2026 Chatterjee and Subramanian’s wording is telling: (emphasis mine) The canonical trajectory of economic development in the post-World War II period is for countries to transition from agriculture to manufacturing, first in low-skilled manufacturing and then later on to high-skill manufacturing (Herrendorf, Rogerson, and Valentinyi 2013). At the global level, this implies that high-income countries (HICs) that once specialized in low-skilled activities cede manufacturing export space to poorer countries that come along to occupy that space. In 1965, advanced economies accounted for about 60 percent of global value-added exports in four key low-skilled manufacturing sectors, i.e., apparel, leather, textiles, and footwear. Over time this share declined and began to be occupied first by the East Asian tigers and, beginning in the late 1990s, by China. Today China accounts for about 50 percent of the global market. The question is whether China, with its rising prosperity, is continuing to behave like its richer counterparts and ceding export space to poorer followers or to behave unlike them and continuing to occupy space. In terms of the conceptual maneuvers it performs, of the three China shock discourses, the “China squeeze” argument is by far the most ambitious. After all, it bases its critique of China on a counterfactual imagining of the world. Like any counterfactual argument, to construct this alternative reality it must rely on a heuristic model. To make their argument Chatterjee and Subramanian mobilize two key claims. The first reference point is the actual history of rich-country industrialization, what they refer to as the “canonical path”. The idea is that countries transition from agriculture to light industry and low-skilled manufacturing and from there up the value chain. To make this useful as a standard of comparison and a means to construct a normative standard, they adjust sectoral export shares for two factors: 1. the underlying level of economic development of the exporting country, as measured by national income and 2. the degree to which the sector in question is internationalized. The idea being that for a high income country to have a high export share in low-skill sectors is anomalous and even more so if that particular product is highly internationalized and thus suitable for being “conceded” to lower-income competitors. Where should this process end? Here Chatterjee and Subramanian introduce their second benchmark. Their normative idea of a global development path is one in which, in due course, low-skill manufacturing exports are distributed in proportion to a country’s share in the global labour force. They imagine, in other words, a world of proportional, polycentric global development without much national specialization in low-skill manufacturing. A useful benchmark is that, in labor-intensive manufacturing sectors, a country’s share of world exports should be broadly commensurate with its share of the world’s low-skilled labor endowment. … In the Heckscher-Ohlin model, this would be true if value added per worker and export propensities, i.e., fraction of output that is exported, are the same across countries. It is this pleasant liberal vista of orderly global development, progressing towards a general distribution of low-skilled manufacturing against which they judge reality and conclude that the low-income countries are suffering a “China squeeze”. China is not exiting low-skill sectors fast enough Allowing for its gdp level and the degree of globalization, China’s share of low-skill manufacturing exports is far higher than it “should” be. Relative to population, its low-skill share of exports is far too high. That in turn yields the conclusion that huge numbers of jobs - the authors suggest tens of millions - are being hoarded by China. For the four sectors captured in figure 4, this excess in value-added exports is $110 billion in 2022. For all low-skilled sectors overall captured in appendix figure D.1, excess value-added exports amount to $365 billion. The crowding out of LMIC exports by China is therefore substantial. Both these claims have in common that they are strong structuralisms. The first is that development paths ought to resemble each other. The second is that broadly speaking as far as low-skilled manufacturing is concerned, all countries are alike. If the world currently diverges from the distribution of trade implied by these assumptions, if China is not following the advanced economy path and has huge exports, this must be the result of “policy”, which the authors then put in question as illegitimate or unfair. Thus the naturalistic construction of a canonical path leading to a “level” distribution of low-skilled manufacturing reveals itself to be a polemical tool. From the point of view of China shock polemics, this discourse is no doubt welcome. But as an account of economic history, it must surely be regarded as nothing short of bamboozling. Development paths do not follow a regular, natural sequence. As David Fishman put it aptly, “development is not a queue”. They are always and everywhere, through and through political. Development is not so much a process, as a project. Each such project is more or less well adjusted to its context. As Gerschenkron taught uneven and combined development implies differentiation rather than simple imitation on a single parth. It may be true that Europe and the US exited relatively early from low-skill work. But clearly technology has changed. As C&S themselves point out, China no longer enjoys a low wage environment. Do they really believe that such huge differences can be accounted for either by industrial policy, which as they admit does not operate powerfully in low-skill sectors, or by exchange rate manipulation? What is overwhelmingly dominant in explaining the persistence of “low-skill” manufacturing in China are surely the network effects of complex supply chains. Indeed the label of “low-skill” may miss the point. The degree of globalization which Chatterjee and Subramanian decide to conjure away in their model of the development path - to allow for the fact that Europe and American textiles exporters did not enjoy just-in-time logistics in the 1950s - obscures the point that the networks through which Chinese factories supply the world are themselves key parts of the low-skill industrialization project. China isn’t knocking out 1970s style “cheap”. It has redefined the entire product cycle. C&S’s casual reference to “T-shirts” is telling. In today’s “fast fashion”, there is weight on both terms. Fashion and fast. China’s success in delivering on both at unprecedentedly high speed and at unprecedentedly low cost, isn’t a low-skill operation at all. If we see development trajectories not as the serial repetition of the same, but as distinctive, crafted projects that cumulate in complex agglomerations of skill, technology and labor, then this explains why the assumption that low-skilled manufacturing should follow the distribution of population flies in the face of all experience. As countless cases attest, low-wage, low-income developed economies are not by themselves the makings of a competitive production base. As Leon Liao puts it quite fairly: “International trade has never been allocated according to population. A country’s population gives it no natural claim to an equivalent share of global exports." And the remarkable fact is that Subramanian alone and with co-authors has long been making this point, not to pillory China, as is the case of the tendentious _Foreign Affair_s and Peterson pieces, but to highlight the great counterpart to China’s industrial success, namely India’s relative failure. The much-quoted Foreign Affairs piece showed low-skill export shares only for China, not for India. If you put both countries in the picture as Chaterjee and Subramanian have done on other occasions, the picture looks like this. China is far above the line, but India, almost as large in terms of population, is no less anomalous, just in the opposite direction. As far as global populations are concerned, and the imagining of tens of millions of “squeezed” jobs, it is this Sino-Indian pair that account for a huge share of the action. What this graph reveals is not China’s cheating, but India’s “greatest development failure”, at least this is the argument made Arvind Subramanian, this time in co-authorship with Devesh Kapur, in their major book, A Sixth of Humanity. Independent India’s Development Odyssey which appeared with Oxford University Press earlier this year. In this highly critical work on India’s development, China is repeatedly evoked, not to criticize but as a benchmark against which to illuminate what India’s political economy has not delivered i.e. large-scale formal employment for hundreds of millions of citizens. Kapur and Subramanian leave no doubt, if you want to understand why China, not India was the main driver of manufacturing globalization from the 1980s, don’t look to slots opening up in the division of labour thanks to the liberal mindedness of advanced economies, look to the contrasting political economy of the Maoist PRC and India’s post-independence political economy. As Kapur and Subramian note: The great divergence between China and India did not begin in 1978 with the Deng reforms—it was well underway by then. In one of the great ironies of modern history, the conditions created by Maoism turned out to be a great launching pad for industrial globalization. As the comparison of India and China in 1980 makes clear, to imagine manufacturing would be equally distributed when populations are so differently endowed in terms of educational and nutritional is fanciful. Here is the data from Kapur and Subramanian, data which I explored back at the very beginning of Chartbook. As Kapur and Subramanian insist, the striking fact is that even as India’s growth accelerated from the 1980s, structural change has not. Formal employment in India lags woefully behind. Why? As Kapur and Subramanian note, the path-dependent impact of India’s poor early start was devastating. The list of factors they mention is long and weighty: We argue for a new five-fold explanation applicable at different stages of Indian history: in the initial stages, the legacy of two key pre-1980s policies, the neglect of agriculture and the strangling of the domestic private sector, were critical. The failure of broad-based agricultural growth militated against rural industrialization, which would have been devoted to satisfying local needs that would have necessarily been labour intensive. Then, when the boom came after 1980, the thicket of regulation and broader labour protections that were legislated prematurely in a nascent democracy, underpinned by a deep ideological aversion to private capital in general and big capital specifically, became a barrier to attaining the size that would be necessary to compete globally. Similarly, the reforms after 1991, while wide-ranging, did not quite encompass non-tradeable inputs critical to manufacturing, namely, land, logistics infrastructure and power. A combination of low investment (logistics infrastructure), regulation (land) and the continued monopoly supply by state governments (power), combined with residual socialism, kept costs at 75–100 per cent above efficient supply. These factors were compounded on the supply side by the government, which dominated the formal labour market and established exorbitantly high wages at the lower end of the skill spectrum. This made their employment in the labour-intensive sector by the private sector less attractive. Finally, when the services sector and its exports boomed, wages soared even further via a Dutch Disease effect: one successful tradeable sector killed and cannibalized another less-skilled tradable sector, namely, manufacturing. Thus, scarcity-inducing policies of the planning era, precocious democracy and a Gandhian aversion to size; inefficient, monopolistic supply of critical non-tradable inputs; the behemoth of government; and super-successful skill-intensive services successively undermined India’s unskilled labour employment opportunities. The employment failure seems to have been over-determined. … Less quantifiable but no less important are some of the sociological factors that have undermined manufacturing and factory jobs. Take the impact of the success of the IT sector—located in urban areas with better working conditions, such as air-conditioned offices, good schools for children and attractive entertainment options. It became a more attractive place for engineering and management graduates to flock to. … Consider manufacturing and female employment. Indian society makes it difficult for women to work, reflected in India’s unusually low female labour force participation (elaborated in Chapter XIII). Indian society, in particular the routine harassment of women in public spaces, makes it even more difficult for them to travel long distances to take up work.37 Combined with onerous regulations on creating hostels and dormitories for women—which, in turn, prevents multiple shifts of operation—factories need to be located in areas with a large female labour pool. While firms can take apparel plants to female labour or bring them to the plants by building large-scale dormitories, this raises costs. If there was a case for subsidies to encourage labour-intensive manufacturing, housing subsidies to build dormitories for women workers would be a good place to start. All of this meant, that when opportunities did open up, in part thanks to adjustments in China, India was in no position to take advantage. Here is the account of the 2020s from Kapur and Subramanian. It stands in dizzying contrast to the one-sided, “China squeeze” argument delivered in the Peterson and Foreign Affairs pieces: In 2022, for example, India’s share of global exports in clothing (the canonical labour-intensive sector) was 3.1 per cent compared to 32 per cent for China. This is extremely disappointing because China started vacating export space in this sector after the Global Financial Crisis as its wages started rising; it then vacated further space in the aftermath of geopolitical developments that led investors to seek alternative investment locations. Between its peak and today, China lost about 7.5 percentage points of global export share (worth about $43 billion in 2022); over this period, India’s export share remained stagnant at 3 per cent, while that of Vietnam and Bangladesh rose by 3.5 to 4 percentage points. China’s loss did not translate into any gain for India in terms of low-skill exports and employment. Put differently, when the conditions for dynamism and prosperity were established after 1991, and even more tantalizingly when the global export opportunities opened up, it was as if India was a high-wage economy and only skilled labour could benefit from the dynamism. It had converted its physically abundant unskilled workforce into an economically expensive resource, penalizing its use. It is not my mission here to argue for or against Kapur and Subramanian’s interpretation of India’s development trajectory. The point in this context is simply that the “China squeeze” such as it is can only be understood, in relation to the heavy burden of domestic constraints that Kapur and Subramanian so unsparingly enumerate. I am concentrating here on India because it is the great counterpart to China and the unspoken reference point of the “China squeeze” discourse. But the point is more general. Can anyone with a straight face suggest that the main problems afflicting the development of South Africa or Nigeria, the great centers of mass underemployment in sub-saharan Africa, are cheap competition from China driven by Beijing’s industrial policy and an undervalued RMB? Likewise, is the main problem of the American working-class the threat of Chinese competition or the manifest crisis of social reproduction in the United States itself? The point here, as in the discourse around China shock 2.0 in Europe, is to insist that we should not normalize the world and pathologize China, without actually investigating what is going on in America’s industrial wastelands, the German car industry, or India’s lopsided labour market. One-sided pathologization should be understood for what it is, a polemical gesture. Concepts like China shock and China squeeze are, what Reinhart Koselleck, following Carl Schmitt, would have described as “asymmetrische Kampfbegriffe”, or “asymmetrical counter-concepts” or “asymmetrical combat concepts”. If the function of arguments like the “China squeeze” is to alert elites in the rest of the world of the need to rejuvenate and energize their development projects, so be it. But let us see the resulting discourses as the mobilizing interventions that they are. Interestingly, a significant slice of China’s public sphere - the so-called industrial party - have been obsessed for the last twenty years with precisely these questions of counterfactual economic history. Since the mid 2000s, a massive online discourse developed around an alternative history in which Chinese techno-patriots were asked to imagine how they would proceed if they had the possibility of traveling back in time to transport modern technology into the Ming dynasty (1368-1644) thus averting the “great divergence” of the 18th and 19th centuries. It is a fantasy of course, but also a goad. The point was not directed at Westerners. The alternate history is dramatically nationalist, but few n the West had even heard of it until recently. The adherents of the industrial party are not liberal moralists. They don’t project natural ladders of international development and ask why others don’t cede space. They take the Realpolitik of global economic development for granted. Their pointe was directed against fellow Chinese. The rallying cry of the alternative narrative was this: Now that we are beginning to gain steam and push forward on our national development path, now that we are breaking out of the inferior position assigned to us even in the early years following WTO accession, do not lose yourself in humanistic imaginings about better futures. In the spirit of Deng, they called on China to embrace the hard truth of development. Perhaps one might of the Industrial Party as a cultural trend born out of desire for symbolic revenge against those who had inflicted the century of humiliation. In terms of the various temporalities of the “China shock” - retrospective, prospective and counterfactual - one might think of the Industrial Policy discourse as truly speculative, conjuring up the China shock that never was. Or perhaps one might better think of it as imagining a world in which a powerful China was no shock at all, but simply a defining fact of modern history. I love putting out Chartbook. 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The Beauty Of Settled Science
Commenters convinced me I made a subtle mis-step in my framing of Psychology Research Is Mostly Fine. My framing emphasized that social priming studies had failed to replicate, but that many other subfields of psychology hadn’t. This naturally led commenters to point to failed replications in other subfields. Although none of these were as bad as social priming, few or none were entirely problem-free. Instead of emphasizing the difference between social priming and other subfields, I should have emphasized the difference between settled science and novel research. Here are some of my favorite psychology findings: The brain is sculpted by reinforcement learning, and a key driver of this learning is a prediction-error-based algorithm located in the nucleus accumbens and implemented through dopamine. Psychedelic drugs exert their effects through 5-HT2A receptors, pointing to a role for these receptors in some sort of construct like the balance between priors and new evidence. Certain cognitive functions are localized to certain brain areas (for example, impulse control to the frontal lobes; linguistic structure to Broca’s area, linguistic meaning to Wernicke’s area. But injure one of these areas, or render a certain function useless (eg a blind person having no more use for their visual cortex), and these mappings can gradually shift - suggesting that neurons are general-purpose compute whose specialization is a contingent fact about convenience and efficiency rather than a necessity. Most personality traits and general capabilities are about 50% genetic and 50% random, with little role for family environment or childhood history, with a few notable exceptions like partisan preference. Recent research complicates this story, but the further you go from this basic picture, the gnarlier the chains of indirect causation you require. Neurons fire together in “brain waves”, whose exact frequency corresponds with the character of consciousness; These divide neurons into natural subpopulations and linked graphs. The gamma rhythm corresponds surprisingly well to items in conscious awareness. GABA receptors seem to be involved in something like relaxation. By hitting different GABA receptors in different ways, you can modulate the exact type of relaxation you produce. Hitting GABA-A directly is too powerful and can cause dangerous levels of sedation, but allosteric modulation of GABA is an incredibly fruitful strategy that underlies drugs from benzos to barbituates to alcohol. If you know your GABA-A subunits, you can target specific subtypes of relaxation; for example, Ambien hits GABA-A1 and induces sleep. Memory divides somewhat fuzzily into bins of immediate-sensory, short-term, and long-term, with separate retrieval and storage functions, and separate systems for declarative vs. procedural learning. These can be harmed selectively, usually by hippocampal injury, so that some patients can remember their life stories but not form new long-term memories, or learn new skills like bike-riding but not new facts. The exact substrate of memory is unclear but seems to involve new synaptic connections between neurons in at least some way. The ability of modern psychology and psychiatry to treat mental illness is real but limited. SSRIs work for half or slightly fewer than half of patients; antipsychotics work with extreme side effects; benzodiazpines work but produce addiction and tolerance in many (not all) people. Most supplements are stuck in Poor Quality Study Replication Crisis Hell, but melatonin and l-theanine stand out as especially promising. Psychotherapy works with moderate effect size, but (with a few exceptions) seems to be more about the relationship with the provider than the details of the therapy itself. Mental hospitalization can sometimes defuse immediate crises but work less well than mental hospitals would like, with some studies showing overall negative effects. Schizophrenia is mostly genetic, but risk also increases with prenatal infection (especially rubella) and obstetric complications; there is suggestive evidence for roles of social stress and drug use (with psychedelics and marijuana making things worse, and nicotine if anything making things better). Bipolar and schizophrenia are so closely linked on a pathophysiological level that it seems like they might be the same disease; on the clinical level, they do seem to follow two separate courses/prognoses but can sometimes surprise clinicians by eg someone who seemed condemned to permanent schizophrenia unexpectedly recovering. The brain’s native reinforcement learning algorithms cash out in the phenomena of classical and operant conditioning; different reinforcement schedules reinforce at different levels, which can be exploited by bad actors to make especially compelling products (eg slot machines). None of these are immune to doubt. A few are speculative; one or two are genuinely unorthodox. But they’re all a step above one p = 0.049 paper that might not replicate. If they get overturned, they’ll be overturned by the same sort of genuine scientific shift that replaced Ptolemy with Copernicus or Lamarck with Darwin, not some sort of sordid discovery about someone entering random numbers into a spreadsheet. In 2008, Eliezer Yudkowsky wrote about The Beauty Of Settled Science: If you only care about scientific issues that are controversial, you will end up with a head stuffed full of garbage. The media thinks that only the cutting edge of science is worth reporting on. How often do you see headlines like “General Relativity still governing planetary orbits” or “Phlogiston theory remains false”? So, by the time anything is solid science, it is no longer a breaking headline. “Newsworthy” science is often based on the thinnest of evidence and wrong half the time—if it were not on the uttermost fringes of the scientific frontier, it would not be breaking news. Scientific controversies are problems so difficult that even people who’ve spent years mastering the field can still fool themselves. That’s what makes for the heated arguments that attract all the media attention. Worse, if you aren’t in the field and part of the game, controversies aren’t even fun. Don’t be embarrassed to read elementary science textbooks, either. If you want to pretend to be sophisticated, go find a play to sneer at. If you just want to have fun, remember that simplicity is at the core of scientific beauty [...] A steady diet of science news is bad for you: You are what you eat, and if you eat only science reporting on fluid situations, without a solid textbook now and then, your brain will turn to liquid. Psychology isn’t centrally the new paper in Annals Of Recently-Breaking News saying that an n=5 study showing that large portion sizes increase support for terrorism. Psychology is centrally ideas like brain waves, GABA receptors, reinforcement learning, twin studies, and connectionism. People who think differently are worrying too much about BREAKING NEWS!!!, and should stop. The key distinction isn’t “recent research in social psychology” vs. “recent research in cognitive/bio/behavioral psychology”, as my essay last week unfortunately implied. It’s recent research in general vs. the deposit of settled science, battle-tested hypotheses, and carefully-earmarked speculation. And part of the reason social priming in particular was such a disaster was that it defied that heuristic, building itself up over hundreds of studies until it approached or even entered the pantheon of settled science - before collapsing (5-HTTLPR was also sort of like this). This isn’t a claim that settled science is always right - Freud was “settled science” for a long time - just that there’s an intuitive distinction between the level of credence you should have in the existence of power posing vs. the existence of Broca’s Area. (I compounded this error by calling the last post “Psychology Research Is Mostly Fine”, which suggested I was talking about the new research rather than the settled science. I actually meant to distinguish between research-psychology-the-field vs. clinical-psychology-aka-therapy, but this framing unintentionally pushed against the point I wanted to make) Some commenters on the previous article understood this point, but challenged its weight. It’s very cool, they said, to know how many neurons are in which brain lobe, but the main way that Psychology affected their lives was through bad clickbait studies used to buttress dumb policies; some p = 0.049 study says that exposure to microaggressions makes minorities’ brains shrivel into raisins, and now their company has to implement punitive DEI or be sued for hazardous work conditions. I won’t dispute this as an accurate description of how the sausage gets made, but it’s worth examining the trains of thought that connect this observation to a campaign against psychology in general: The dumb woke psychology was wrong and bad, and I don’t have good heuristics for distinguishing dumb woke psychology from other psychology, so I’m going to assume it’s all wrong and bad. The dumb woke psychology was wrong and bad; it seems useful to punish/discredit psychology as a whole to assist my campaign against it, so for propaganda purposes I will try to discredit psychology as a whole. To people in the first camp, my response is: come on, your heuristics aren’t that bad. “Microaggressions makes minorities’ brains shrivel up like raisins” is in the woke category; “the hippocampal theta rhythm seems to be associated with both memory and pathfinding, suggesting an unexpected yet surprisingly compelling relationship between the two” is in the not-woke category, don’t play dumb here. To people in the second camp, my response is: deliberately exaggerated propaganda campaigns are bad and this is a confession, not an excuse. Inability to view science through anything but a political lens was what got us into this problem; doubling down on it is a temporary solution but a recipe for permanent disaster. If you pronounce entire fields of science to be acceptable collateral damage in your campaign against bad political actors, you will alienate not just scientists but patients, clinicians, and general lovers of truth. Instead, you can say the thing you mean - that woke partisans shouldn’t try to occupy and exploit the otherwise-noble science of psychology for their own political gain - and wage the same campaign with a halo rather than a comic-book-villain goatee. From the font of oracular wisdom that is Weird Sun Twitter: [ Vessel Of Spirit@VesselOfSpirit i love you all conditionally but i love the good part of you unconditionally. even if it becomes a very small part 2:11 AM · Jan 22, 2015 1 Reply · 5 Reposts · 29 Likes ](https://x.com/VesselOfSpirit/status/558084551772471298) This is how I feel about psychology1, too, but with a touch more optimism. The good part of psychology is enormous, a hoard of endless treasures. You just have to look past the headlines! 1 To play devil’s advocate - should one always be so magnamious? Astrology? Phrenology? These seem different in that their entire orientation was flawed from the start; they didn’t simply fail to find the correct constellation-personality connections, the whole project of searching for connections between constellations and personality was doomed from the start. More difficult might be asking the same question about education research, which is notoriously bad. I don’t know enough about education research to know if there’s some settled science of correct and enlightening results lurking in the background beyond the day-to-day froth of poorly-conducted and politically-motivated studies. I think if it’s 90% bad, 10% good, it’s correct to call it bad as a compact way of communicating a useful truth; I think psychology is better than that, but admit it’s a tough judgment call.