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Results for " wood " 2,943 found 🔀 AI-powered Shuffle

Philadelphians can show their love for birds by counting them this weekend

Skip the roses this Valentine’s Day, and grab your binoculars and a field guide for science, with this weekend's Great Backyard Bird Count.

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Feb 14 • 6:38 PM EST • Science • whyy.org
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Longwood defeats South Carolina Upstate 82-75 in OT

FARMVILLE, Va. (AP) Alphonzo Billups III had 25 points in Longwood's 82-75 overtime victory over South Carolina Upstate on Saturday.

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Feb 14 • 6:23 PM EST • Sports • cbssports.com
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Haywood Highsmith signs with Suns

The Phoenix Suns agreed to a multiyear deal with former Miami Heat forward Haywood Highsmith, ESPN's Shams Charania first reported.

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Feb 14 • 4:57 PM EST • Sports • arizonasports.com
Politics Take Center Stage at the Berlinale as Social Media Backlash Looms

As press conference remarks are clipped and amplified online, some filmmakers worry that speaking freely could invite instant backlash.

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Feb 14 • 2:00 PM EST • Politics • hollywoodreporter.com
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Hollywood talent agent sells company after Epstein files release

In an internal memo sent to agency staff on Friday, which was obtained by CNN, Wasserman said he has “become a distraction” to the company’s “efforts.”

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Feb 14 • 11:00 AM EST • Politics • cnn.com
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Charli xcx Brats Up Berlin: ‘The Moment’ Star Applauds the Fest for “Not Shying Away From Political Films,” Declares Brat Era “Over”

"I feel like I'm only just starting out," the Brit superstar said about crashing Hollywood with her mockumentary film.

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Feb 14 • 9:58 AM EST • Politics • hollywoodreporter.com
Freshman Cameron Boozer emerges as overwhelming Wooden Award favorite

LOS ANGELES -- Seven freshmen are on the 20-player midseason Wooden Award watchlist, but one name stands far above the rest.

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Feb 13 • 9:17 PM EST • Sports • thesportingtribune.com
Director Pablo Larraín Launches Pijama, Affordable Movie Rental Service to Help Fix the Distribution Business (Exclusive)

Co-founded with his brother and producing partner, Juan de Dios Larraín, the new TVOD platform offers filmmakers pricing control, 80 percent revenue share and global territory flexibility.

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Feb 13 • 2:00 PM EST • Business • hollywoodreporter.com
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Nabarun Dasgupta honored with TIME100 Health and Dogwood Awards

The awards recognize the innovation fellow and senior scientist’s public health influence and commitment to helping North Carolina communities.

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Feb 13 • 12:32 PM EST • Health • unc.edu
Will Wasserman Let Music Agents Go to Save His Powerhouse Sports Firm?

While the LA28 Olympics board gave the mogul its vote of confidence, some of his own agents are still advising artists to post about the company founder — it's unclear whether there is a music and sports split among clients.

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Feb 13 • 12:12 PM EST • Sports • hollywoodreporter.com
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“Wow”: Neil Patrick Harris Hit With Barrage of U.S. Politics Questions at Berlin ‘Sunny Dancer’ Presser: “I’m Interested in Things That Are Apolitical”

Bella Ramsey, Este Haim, and filmmaker George Jacques arrived at the Berlinale presser with Harris on Friday morning, where the group were asked if cinema can help fight fascism.

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Feb 13 • 7:35 AM EST • Politics • hollywoodreporter.com
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TMRW Sports ‘to run' NFL flag football league

Tiger Woods and Rory McIlroy’s venture to operate new competition backed by US$32m investment from NFL owners.

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Feb 13 • 6:55 AM EST • Sports • sportspro.com
Michelle Yeoh Declines to Talk U.S. Politics — But Tells Berlin to Re-Focus on Cinema and Diversity: “I’ll Stay Until the Right Changes Are Made”

"Today, I sit here with a Golden Bear, not because of just one movie, but the perseverance, the resilience, the stubbornness to say: 'I won't go away,'" said the 'Crazy Rich Asians' star.

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Feb 13 • 4:48 AM EST • Politics • hollywoodreporter.com
Lindenwood defeats UT Martin 75-74

SAINT CHARLES, Mo. (AP) Jadis Jones scored 22 points as Lindenwood beat UT Martin 75-74 on Thursday.

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Feb 12 • 10:59 PM EST • Sports • cbssports.com
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Friedman, Schiff seek commitments to protect Hollywood jobs amid WBD acquisition

Media giants Netflix and Paramount are making their sales pitches to take over Warner Brothers Discovery, and it's caught the attention of Capitol Hill.

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Feb 12 • 6:51 PM EST • Politics • spectrumlocalnews.com
Florida Man visits The Woods for a mix-up in entertainment

In Florida Man Adventures, TV20’s Adam Pittman hits the rink in Lake City.

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Feb 12 • 6:02 PM EST • Entertainment • wcjb.com
NFL Picks Tiger Woods’ TMRW Sports to Lead Flag Football Ops

The NFL has tapped TMRW Sports to be the operating partner in a league-supported pro flag football circuit, the latest in the NFL's flag push.

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Feb 12 • 3:26 PM EST • Sports • sportico.com
Apploff Entertainment CEO on His 'Weird Road' From Restaurateur to Hollywood Game Show Producer

Office With a View: Jeff Apploff also reveals how he sold Netflix on his new interactive mobile game show "Best Guess Live"

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Feb 12 • 1:00 PM EST • Entertainment • thewrap.com
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Woods upsets Kingsbury for gold in men's moguls

Unheralded Australian freestyle skier Cooper Woods snatched the men's moguls gold medal away from the sport's most decorated skier, Mikael Kingsbury of Canada, after both scored 83.71 points in Thursday's final.

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Feb 12 • 8:39 AM EST • Sports • espn.com
Easy Out is the antidote to Cleveland's sports bar insufficiencies

👋 Sam here. The best thing I ate this week were the loaded fries from Easy Out (11822 Detroit Ave.), the new sports bar at the Cleveland-Lakewood border.

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Feb 12 • 6:27 AM EST • Sports • axios.com
High-Signal Publisher
Noise restriction near health care facilities in Grand Rapids takes effect

An amendment to Grand Rapids’ noise ordinance takes effect Thursday, prohibiting amplified sound within 100 feet of hospitals and clinics.

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Feb 12 • 6:23 AM EST • Health • woodtv.com
Berlinale Immediately Gets Heated at Jury Presser as President Wim Wenders Asserts “We Have to Stay Out of Politics”

"We are the counterweight of politics, the opposite of politics, we have to do the work of people — not the work of politicians," said the legendary filmmaker at the first Berlin Film Fest press conference.

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Feb 12 • 4:53 AM EST • Politics • hollywoodreporter.com
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Clearwater business incubator aims to spark revival in once thriving North Greenwood neighborhood

A once economically-thriving North Clearwater community could be on the brink of a comeback, as local leaders launch a business incubator designed to create opportunity and support entrepreneurs.

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Feb 11 • 10:24 PM EST • Business • fox13news.com
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Spring Training open thread: February 11

Well, nobody went on the 60-Day IL today so I’d consider that a success! The night is still young so I’m definitely knocking on wood here but hopefully we’re past the bad injury luck for the time being. That clubhouse needs it and the fanbase needs it as well. Phew. Anyways, here’s a random clip. […]

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Feb 11 • 7:00 PM EST • Sports • batterypower.com
Owner of CT plumbing business buys Fairfield commercial building for $1.2M

The owner of a Westport-based plumbing business has purchased a two-story commercial building in Fairfield for $1.2 million, according to the town’s land records. 158 Kenwood LLC, controlled by Frank […]

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Feb 11 • 12:21 PM EST • Business • hartfordbusiness.com
ATG Entertainment Names Melanie Smith As CEO

Smith will lead the company, which owns more than 70 theaters across the U.S. and Europe.

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Feb 11 • 9:07 AM EST • Entertainment • hollywoodreporter.com
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Donna Langley, Chair of NBCU Entertainment, to Receive BAFTA Fellowship

The British Academy will award "the first British woman to run a major Hollywood studio" its highest honor during the 2026 BAFTA Film Awards ceremony in London.

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Feb 11 • 9:00 AM EST • Entertainment • hollywoodreporter.com
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Plan your weekend with Brevard's best entertainment events for Feb. 13-19

Looking for something fun to do? Blues Brothers, Bee Gees and a cinematic sci-fi concert top our list of Brevard's best weekend events.

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Feb 11 • 5:01 AM EST • Entertainment • floridatoday.com
Red Seat Ventures Expands Podcasting Business With Acquisition

The Fox-owned podcasting company bought monetization company Supercast.

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Feb 10 • 1:37 PM EST • Business • hollywoodreporter.com
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Deadline Hollywood

Fremantle's Andrew Llinares is exiting his global entertainment role having worked on 'America's Got Talent' and 'Dancing with the Stars'. Read more below.

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Feb 10 • 12:00 PM EST • Entertainment • facebook.com
What we know about the business behind a mysterious sign in Shorewood

For months, a mysterious sign in the window of a vacant Shorewood storefront has intrigued passersby. Now we know more about the new business.

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Feb 10 • 6:04 AM EST • Business • jsonline.com
State bills could reimburse businesses for lengthy, sudden road work

Two bills in Lansing could give businesses impacted by unexpected or extended roadwork a helping hand to cover the costs.

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Feb 9 • 10:55 PM EST • Business • woodtv.com
RWJBarnabas Health Opens New Food Farmacy at RWJUH Hamilton

RWJBarnabas Health celebrated the grand opening and ribbon cutting of a new Food Farmacy at Robert Wood Johnson University Hospital Hamilton, marking another milestone in the health system’s ongoing efforts to address food insecurity and improve community health outcomes across New Jersey.

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Feb 9 • 5:33 PM EST • Health • rwjbh.org
YouTube TV Launches Sports Tier Priced $18 Less Monthly Than Main Plan

Now that all those pesky retransmission and carriage disputes are out of the way.

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Feb 9 • 11:32 AM EST • Sports • hollywoodreporter.com
'Once Upon a Time in Hollywood' sequel drops surprise Super Bowl 2026 trailer

'Once Upon a Time in Hollywood' sequel gets surprise Super Bowl 2026 trailer with Brad Pitt returning as Cliff Booth opposite Elizabeth Debicki.

ew.com logo
Feb 8 • 7:39 PM EST • Entertainment • ew.com
‘Melania’ falls steeply and ‘Send Help’ holds steady at No. 1 on a quiet weekend in theaters

NEW YORK (AP) — Hollywood largely ceded attention to football over a slow box-office weekend, with the survival thriller “Send Help” repeating as No. 1 in ticket sales and the Melania Trump documen…

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Feb 8 • 1:52 PM EST • Entertainment • newsnationnow.com
'Melania' falls steeply and 'Send Help' holds steady at No. 1 on a quiet weekend in theaters

Hollywood is largely ceding attention to football this weekend. The survival thriller “Send Help” repeated as the weekend's No. 1 film at the box office and the Melania Trump documentary...

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Feb 8 • 1:00 PM EST • Entertainment • sfgate.com
Raising Cane's Planning New Restaurant At Major Mall: CT Business News

Popular Ice Cream Shop Closes/ Fitness Center Chain Closing Location/ Popular Seafood Spot Returning/ Shopping Plaza, Grocery Store Proposed

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Feb 8 • 8:02 AM EST • Business • patch.com
Hollywood makes room for creators

Studios, agencies and awards shows are reorganizing for the creator era.

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Feb 7 • 11:55 AM EST • Entertainment • axios.com
High-Signal Publisher
A massive new game-and-bar hub just opened at the former Oasis Wynwood

Five bars, games and live music take over Wynwood.

timeout.com logo
Feb 6 • 5:25 PM EST • Entertainment • timeout.com
Oasis Wynwood closed. This new nightlife spot is ready to party in its place

Throw Social Miami, a nightlife and dining spot from Delray Beach, opens in the former space of Oasis Wynwood in Miami.

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Feb 6 • 7:41 AM EST • Entertainment • miamiherald.com
Lindenwood wins 79-74 over Little Rock

LITTLE ROCK, Ark. (AP) Anias Futrell had 24 points in Lindenwood's 79-74 victory against Little Rock on Thursday night.

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Feb 5 • 11:31 PM EST • Sports • cbssports.com
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California Black Business Brunch will be in Sacramento, Luke Wood named keynote speaker

The California Black Chamber of Commerce and the California Legislative Black Caucus are having a celebratory brunch event in Sacramento.

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Feb 5 • 5:26 PM EST • Business • kcra.com
Leesville police: Body found in woods behind business on South 5th Street

An investigation is underway after a body was found behind a business in Leesville.

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Feb 5 • 5:10 PM EST • Business • kplctv.com
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How Award Show Speeches Are Slowly Going Activist Again

The Ted Cruz-Ted Sarandos Capitol Hill dustup illustrated how they've moved from fluff to freighted. But many screen stars are still scared.

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Feb 5 • 9:15 AM EST • Politics • hollywoodreporter.com
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Pixelworks Appoints Sevan Brown to Lead Business Development for TrueCut Motion

Pixelworks, Inc. (NASDAQ: PXLW) ("Pixelworks" or the "Company"), a provider of innovative cinematic and enhanced visualization solutions, today announced the appointment of Sevan Brown as Executive Vice President of Business Development. In the newly created role, Brown will lead the Company's enhanced focus on securing and growing global business partnerships for its TrueCut Motion platform with major Hollywood studios, international exhibitors and streaming service providers.

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Feb 5 • 8:00 AM EST • Business • finance.yahoo.com
Hollywood and Washington converge as celebrities, lawmakers speak out on grievances

This last week has demonstrated, once again, that politics and pop culture are deeply intertwined.

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Feb 4 • 7:08 PM EST • Politics • foxbaltimore.com
Cassidy Wood talks Super Bowl and Mike McCarthy
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Feb 4 • 4:31 PM EST • Sports • cbsnews.com
High-Signal Publisher
'Becoming' media moguls? Michelle Obama, Melania Trump pursue Hollywood

"Melania," the first lady's documentary offers a differing approach to the Obamas' turn in Hollywood after they exited the White House.

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Feb 4 • 3:05 PM EST • Politics • usatoday.com
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Elisabeth Hasselbeck returning to 'The View' after slamming Joy Behar, 'sinking' show

Elisabeth Hasselbeck will return to 'The View' after publicly slamming current cohost Joy Behar's coverage of Donald Trump's inauguration performer, Carrie Underwood.

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Feb 4 • 2:12 PM EST • Entertainment • ew.com
Super Bowl 2026: Ranking all of the previous 59 games

Every Super Bowl has its unique traits, but only one could be No. 1.

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Feb 4 • 8:11 AM EST • Sports • cbssports.com
Ricky Gervais Advises Celebrities to Leave Politics Out of Speeches After Bad Bunny Slams ICE at Grammys

Billie Eilish also spoke out against ICE during her time on stage Sunday night, adding in her speech, "No one is illegal on stolen land."

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Feb 3 • 11:29 PM EST • Politics • hollywoodreporter.com
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It May Be Safe to Nuke an Earthbound Asteroid After All, Simulation Suggests

Hollywood was right all along.

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Feb 3 • 9:25 PM EST • Science • sciencealert.com
Woman shot, killed in UI Health parking garage in Little Italy

A woman on her way to a medical appointment Tuesday was shot to death on the third floor of a parking garage in the 1100 block of South Wood Street, authorities say. Police say the attack may be domestic related.

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Feb 3 • 6:03 PM EST • Health • chicago.suntimes.com
Person found shot to death at UI Health parking garage in Illinois Medical District
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Feb 3 • 3:43 PM EST • Health • cbsnews.com
High-Signal Publisher
Figure skater Amber Glenn balances mental and physical health for Olympics

U.S. figure skater Amber Glenn says the integration of her mental and physical health has placed her in the “prime” of her career as she prepares for her first Olympic competition in Mi…

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Feb 3 • 1:38 PM EST • Health • nxsmediawire.com
The Review of Politics is pleased to welcome Thom Brooks to our editorial advisory board.

Professor Brooks serves as Principal of Collingwood College and holds a personal Chair in Law, Ethics and Government at Durham University, whe...

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Feb 3 • 1:20 PM EST • Politics • politicalscience.nd.edu
🙂 Positive (42%)
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Passenger traffic falls at Fort Lauderdale airport as airlines fight for business

Annual passenger traffic fell by 8.5% at Fort Lauderdale-Hollywood International Airport in 2025 as airlines struggled financially and some travelers chose other locations for vacations.

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Feb 3 • 6:30 AM EST • Business • sun-sentinel.com
Peter Woods goes to Bengals in PFF mock draft

The Bengals need help stopping the run.

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Feb 3 • 6:30 AM EST • Sports • cincyjungle.com
CHCF Board of Directors Welcomes Health Policy Leader Jim Wood - California Health Care Foundation

The health policy leader has deep expertise in rural health. He chaired the California Assembly Health Committee for eight years.

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Feb 3 • 3:01 AM EST • Health • chcf.org
Republicans say they don’t care about anti-ICE ‘Hollywood jackasses’
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Feb 2 • 10:54 PM EST • Politics • cnn.com
😐 Neutral (0%)
Business Buzz: Banking shake-ups and Lakewood’s zoning showdown
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Feb 2 • 2:11 PM EST • Business • 9news.com
A Charming Curiosity Comes to Secret Lair's Chaos Vault

Four Magic artists have brought a woodblock-inspired take on Lorwyn-Shadowmoor's ever-shifting world, and it's available now!

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Feb 2 • 12:00 PM EST • Technology • magic.wizards.com
Linden Entertainment Taps Jenna Jackson as Brand Ventures Executive (Exclusive)

Jackson will seek out new opportunities for the firm and its clients as well as assist preexisting labels like Once Upon a Farm from Jennifer Garner and YSE Beauty from Molly Sims.

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Feb 2 • 11:00 AM EST • Entertainment • hollywoodreporter.com
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From Y’all Street to Y’allywood: Texas is becoming an entertainment power center

An entertainment industry is burgeoning in Texas.

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Feb 2 • 2:30 AM EST • Entertainment • dallasnews.com
😐 Neutral (0%)
E is for Entertainment

Want to hear from the biggest stars in Hollywood? You're in the right place! This week, Paul Milliken catches up with Emmy-winning actress Claire Foy, director Philippa Lowthorpe, and author Helen Macdonald for a first look at the soaring drama "H is for Hawk." Next up, we celebrate recent Oscar nominee Elle Fanning with a look back at last year's critical and commercial hit "Predator: Badlands." And finally, we're backstage at Lawrenceville's Aurora Theatre, where "The Play That Goes Wrong" is sending audiences into hysterics.

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Feb 1 • 1:52 PM EST • Entertainment • fox5atlanta.com
Meet Eric Vetro, the celebrity vocal coach for Ariana Grande and more A-listers

Eric Vetro is Hollywood's favorite vocal coach, working closely with stars like Timothée Chalamet, Ariana Grande, Sabrina Carpenter, and Addison Rae.

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Feb 1 • 8:51 AM EST • Business • businessinsider.com
'Hollywood welcome' - Inside a Wrexham transfer window

With the potential for deadline day deals, BBC Sport looks at how Wrexham's recruitment works under the ownership of Ryan Reynolds and Rob Mac

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Feb 1 • 3:50 AM EST • Sports • bbc.com
Albino or Leucistic? The Science Behind America’s “White Raccoons”

Imagine that you’re taking an evening stroll in the woods. All of a sudden, you spot a flash of color and two glowing eyes. The furry animal looks like a raccoon, but its all-white fur says otherwise. There’s no black fur and the bandit mask is missing entirely; only snow-white hair. What you’ve just observed

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Jan 31 • 11:00 AM EST • Science • a-z-animals.com
Vermont high school sports scores, results, stats for Saturday, Jan. 31

Vermont high school sports scores and results as reported to the Burlington Free Press sports department.

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Jan 31 • 10:00 AM EST • Sports • burlingtonfreepress.com
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Tigers take care of business at Woodland Hills

North Allegheny traveled to Woodland Hills High School on Friday night to take on the Wolverines in a Section 1-6A battle. The Tigers took care of business defeating Woodland Hills, 44-11. NA jumped all over the Wolverines defensively only allowing one field goal in the opening frame to lead 15-3 after a quarter of play…. More »

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Jan 31 • 12:10 AM EST • Sports • athletics.northallegheny.org
Tigers take care of business at Woodland Hills

North Allegheny traveled to Woodland Hills High School on Friday night to take on the Wolverines in a Section 1-6A battle. The Tigers took care of business defeating Woodland Hills, 44-11. NA jumped all over the Wolverines defensively only allowing one field goal in the opening frame to lead 15-3 after a quarter of play…. More »

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Jan 31 • 12:10 AM EST • Business • athletics.northallegheny.org
Sydney Sweeney on “MAGA Barbie” Nickname: “I’ve Never Been Here to Talk About Politics”

"I’ve always been here to make art, so this is just not a conversation I want to be at the forefront of," the 'Christy' star said in conversation with Cosmopolitan.

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Jan 30 • 8:07 PM EST • Politics • hollywoodreporter.com
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Sydney Sweeney rejects speaking about politics

'Outnumbered' co-hosts discuss how Hollywood actors are responding to I.C.E. operations under the Trump administration.

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Jan 30 • 2:59 PM EST • Politics • foxnews.com
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Bill Maher Says Hollywood Hurting Democratic Party: “Just Shut the F*** Up”

The HBO host and comic is blaming the "woke" entertainment industry for election losses and chiming in on the local state of play in California and L.A.

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Jan 30 • 2:59 PM EST • Politics • hollywoodreporter.com
Deadline Hollywood

'The Entertainment System Is Down' is a social satire set on a long-haul flight where the entertainment systems fail. Read more below.

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Jan 30 • 2:04 PM EST • Entertainment • facebook.com
☹️ Negative (-16%)
Williams has 21, Lindenwood knocks off Southern Indiana 73-60

EVANSVILLE, Ind. (AP) Dontrez Williams' 21 points helped Lindenwood defeat Southern Indiana 73-60 on Thursday night.

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Jan 29 • 11:39 PM EST • Sports • cbssports.com
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BHS 25th Anniversary; Dave DeBaker

Airdate: January 29th, 2026 BHS 25th Anniversary; Karen HawleyJanuary 29, 2026BHS 25th Anniversary; Dave DeBaker – Entertainment CorrespondentJanuary 29, 2026BHS 25th Anniversary; House Drummer Owen WoodJanuary 29, 2026BHS 25th Anniversary; Clay & Leslie McAndrews – Bright WallsJanuary 29, 2026BHS 25th Anniversary; Ryan Tarrant – Jackson Co. Chamber of Commerce & Experience JacksonJanuary 29, 2026BHS 25th…

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Jan 29 • 4:43 PM EST • Entertainment • jtv.tv
Chappell Roan, Charli xcx, Teyana Taylor Among 2026 Grammy Presenters

An additional surprise presenter will be revealed onstage during Sunday night’s ceremony.

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Jan 29 • 3:28 PM EST • Entertainment • yahoo.com
Maine businesses to close Friday, make donations to support immigrant community

More than 50 shops and restaurants are participating in a nationwide strike, which will include a protest in Portland's Monument Square.

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Jan 29 • 1:10 PM EST • Business • pressherald.com
Captain 'essential' Fernandes - FPL team of the week

With a juicy run of fixtures coming up and his team in top attacking form, Bruno Fernandes is an easy captain choice this week, writes Thomas Woods.

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Jan 29 • 4:47 AM EST • Sports • bbc.com
AMC Entertainment Holdings, Inc. Announces Agreement With Its Lenders to Provide Additional Debt Refinancing Flexibility and Previews Fourth Quarter and Full Year 2025 Preliminary Results

LEAWOOD, Kan.--(BUSINESS WIRE)-- AMC Entertainment Holdings, Inc. (NYSE: AMC) (the “Company,” or “AMC”), today announced that it has…...

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Jan 29 • 1:59 AM EST • Entertainment • investor.amctheatres.com
Decatur seeking input on Oakwood Business District

DECATUR, Ill. (WCIA) — The City of Decatur is asking its residents to fill out a survey on changes they would like to see to the Oakwood Business District before they make a plan to revamp it. Councilman David Horn said the survey is part of a step that will be taken before the city […]

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Jan 28 • 6:59 PM EST • Business • wcia.com
Geauga County’s largest behavioral health provider to merge with Ashtabula agency

Ravenwood Health will merge with Ashtabula County’s Community Counseling Center as longtime CEO Vicki Clark retires, expanding behavioral health services.

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Jan 28 • 1:46 PM EST • Health • cleveland.com
Peter Murray Tapped as CEO of Professional Bowlers Association and Head of Media for Lucky Strike Entertainment (Exclusive)

Murray had been the founding CFO of the MMA promotion Professional Fighters League.

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Jan 28 • 7:30 AM EST • Entertainment • hollywoodreporter.com
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Investment and Statecraft: The International Politics of Sovereign Wealth Funds - Georgetown Journal of International Affairs

In 1953, Kuwait established the world’s first sovereign wealth fund to invest the country’s oil revenues and generate returns that would reduce its reliance on a single resource. Since then, over 100 separate funds have been created to preserve national wealth and ensure long-term fiscal sustainability. Today, they manage over $10 trillion in global assets. In this discussion with GJIA, political economist Kathryn Lavelle explains the increasingly novel dynamics that surround fund behavior and what the world can come to expect from their growing presence in international financial markets. GJIA: When it comes to the roles sovereign wealth funds (SWFs) play in global markets and politics, what would you say makes them unique? Kathryn Lavelle: Sovereign wealth funds (SWFs) operate on behalf of governments as investors. That in itself is a strange relationship. Within them, a core contest takes place between the state’s interests (or sovereign) part of the dynamic, and the money interests (or wealth) part of it, and these two aspects are frequently in contradiction, serving fundamentally different goals. SWFs are also quite fascinating because when you talk to the people who manage these funds, they have an interest in convincing you that the decisions are made almost exclusively on a financial basis—they really will go to great lengths to differentiate their government owners and those who make the management decisions. At the same time, these people ultimately answer to someone in power. Therefore, for most SWFs, it remains deeply unclear who is actually making the investment decisions and for what purposes. Of course, it is not always clear how other vehicles, such as hedge funds and private equity make the decisions they do, but I think what a lot of people find particularly disconcerting about SWFs is that they seem to act on behalf of people who have a different identity from their own. People who could be trying to manipulate politics and markets in a way that would have a long-term effect on their own populations. Regular investors come and go at will, and they only share an interest in profit as far as most of us understand. However, SWFs have that extra “sovereign” part right behind them that obscures their true interest. GJIA: These funds can be found in countries all across the globe, in both authoritarian states and democracies. Would you say SWFs differ in their goals and structures between regime-type? KL: It is not necessarily regime type that makes the goals and structures of SWFs different. It has to do with their economies. Let’s look at a country like China. There’s going to be a debate about exactly how to characterize the regime, but it is a country with many different kinds of sovereign wealth funds, and a particularly opaque state connection to each. At one time, some of the state-owned Chinese oil companies created specialized investment vehicles listed outside Chinese markets that excluded parts of the firms that were more associated with human rights violations. At the same time, the China Investment Corporation (CIC)­—China’s largest SWF—draws a lot of concern, not necessarily because of its investment activities, but because of the dynamics of global politics. So, I wouldn’t really tie differences to regime types themselves in a wholesale way, but rather to how such funds are perceived and how they are structured. Saudi Arabia’s SWF is getting all kinds of attention for its involvement in Hollywood, and this takes me right back to when I was a student in the 1980s, when people were concerned about Japanese investment entities buying assets in Hollywood. They aren’t quite the same in financial terms, but it’s the same kind of concern about foreign investment that drives people to be suspicious, and the whole idea that “foreigners are influencing Hollywood.” This holds true across industries, and it reflects where politics are in places like the United States right now. One metric we can try to look at is transparency, where all the funds will tell you, “we are transparent.” The problem you’ll keep running into with this approach is how you value things. When trying to do comparative studies of equity markets, you’ll find that every country doesn’t use Generally Accepted Accounting Principles like we do in the United States. A fund may appear opaque politically and not want people to show what they’re invested in or what their intent with that investment is, but they could also just not be able to report it because of the way it was purchased, or the kinds of shares they purchased. There are some assets out there that really are difficult to put a monetary value on. GJIA: To what extent do domestic politics shape SWF behavior in both the investing “home” country and the recipient “host” country? KL: This depends on the type of fund present and also on the extent to which voters’ political views are able to influence the fund. For example, in a democratic home state like Norway, the SWF doesn’t invest in nuclear weapons or tobacco because of social concerns, but there is a continuing debate over whether it should invest in oil, even though that’s where most of the money comes from. The degree to which Norway will continue to make those investments, and whether they contradict the government’s overall climate goals, is an open question in Norwegian politics. Because of the way the fund’s governance is structured, it may not be easy to resolve. On the other hand, some people consider pension funds, like the State Teachers Retirement System (STRS) in Ohio, to be quasi-SWF. They have a very strict separation between the people who make up the management division and the fund owners. No teacher or professor would want to invest in things that may harm the future of their students. At the same time, a fund manager might see an opportunity in a diversified multinational corporation that offers a good return, despite it deriving part of its revenue from e-cigarettes. These contests are very apparent. Domestic politics can work in host countries too. A good example is Singapore’s SWF, Temasek, investing in Thailand’s telecommunications sector. If you study political economy, you already know that countries everywhere are uncomfortable with foreign ownership of their telecom sectors because a foreign entity could monitor or manipulate our communications with each other. In the case of Temasek, there was significant pushback from Thai citizens surrounding the deal, which went on to influence national political sentiment toward Singapore as a whole, underscoring the risks some SWFs may face with their investment choices. In this case, fund behavior led to the dissolution of the entire Thai government in 2006 and a subsequent coup d’état. GJIA: To address some of this unease, the Santiago Principles were established in 2009 to ostensibly promote trust and transparency. From your perspective, have these mechanisms actually changed fund behavior? KL: In international relations theory, we always like to have a clear set of norms and best practices­—the orientation we want the proverbial ship to be going in. In that regard, the Santiago Principles at least got the discussion going about which direction SWFs should take at a time when people were very skittish about the growing size of these funds. Nobody wanted them to be out there and potentially destabilizing economies, so talks about disclosure, conditions for withdrawal, and the independence of managers were helpful when initiated. The biggest stumbling block was that there wasn’t exactly a good way to measure compliance with the Principles, let alone how to hold funds to them. If you read the Principles, they’re overall quite vague. In general, a fund doesn’t want to reveal how and why they make certain investment decisions because that information is proprietary—a fund makes money off of how and why it makes decisions—so how do you reconcile that with loosely-defined ideas of openness? Some decisions might have a political purpose. The bottom line is that trying to figure out and assign a score to compliance is not easy, and it is therefore the reason why the Santiago Principles never really got off the ground to the point where they could truly direct fund behavior. GJIA: Many emerging markets are looking to build their own SWFs from mineral and oil revenues. Historically, have funds shaped development trajectories in these countries? KL: I think the big story in international emerging markets investment is that the investment is increasingly no longer unidirectional. In the past multinational corporations of primarily Western background were the main form of foreign direct investment in a country. That has changed dramatically, to the point where you have companies from so-called “developing countries” taking over companies in the United States. Therefore, the landscape of international investment has changed, and I think SWFs are certainly a possibility to be the next step in the game. Historically, you didn’t need an entire financial vehicle to reinvest commodity revenues in your country, but as emerging markets get more financially sophisticated, their capacity to operate such funds has increased. SWFs would allow treasuries to move from relying on holding foreign exchange assets like cash or government bonds to having broader financial markets and targeted growth areas, while easing pressure on welfare expenditures. GJIA: With their increasing financial weight, do you see the presence of SWFs being a factor in the political choices leaders will have to make with regard to domestic and foreign policy? KL: It will depend on just how big the funds get. One of the reasons people are already apprehensive is because of their scale, and if certain SWFs in certain countries achieve a large-enough size, the presence will absolutely be cause for concern. The other factor political leaders will have to consider are their objectives. It’s not always clear how to define a SWF, or even where its activity is concentrated, but it is certainly a worry from the perspective of national security of opaque external investment. More than that, I think one of the most interesting questions going forward is whether the United States, the home to the world’s largest financial markets, will develop its own fund, for which the Trump administration announced a plan. There have also been several proposals in Congress. Were it to come into being, it would have tremendous weight. At the same time, one of the hallmarks of U.S. capitalism is a lack of government ownership of shares, so it would not be clear how such a fund would be received in domestic politics, or which direction it would take. Given how politically fragmented the country is, a Democratic administration would likely be concerned about different sectors of the economy, such as healthcare, and want investment there, rather than a Republican administration, which might prefer defense industries. No investment vehicle could thrive under conditions of such instability. Moreover, it remains unclear where the money to fund a theoretical U.S. SWF would come from. It would be a fundamentally different entity depending on whether it is financed with debt, economic surplus, commodities, or the sale of state companies, as in the case of Singapore. If it is debt, or government borrowing of some form, then the fund would have to outperform whatever the cost of that debt is, which is not an easy thing to do. I think our political leaders have enough on their plate. Our system has worked well keeping political and investment functions generally separate. We have seen different forms of business rise and fall, and even the perception of different countries, all of which funds are tied to. Unless a major SWF either starts—like in the case of the United States—or collapses—an issue that concerns the Saudis, I don’t see any political tsunamis on the horizon. . . . Kathryn Lavelle is the Ellen and Dixon Long Professor of World Affairs at Case Western Reserve University in Cleveland, Ohio. Her research explores the exchange between domestic and international and political institutions with a particular emphasis on political economy and multilateralism. Dr. Lavelle’s first book, The Politics of Equity Finance in Emerging Markets, explored the political circumstances that surround large issues of stock in the developing world. After being granted tenure at Case Western, she was awarded an American Political Science Association Congressional Fellowship and named the William A. Steiger fellow, a designation given to the most promising political scientist in her class of fellows. While in Washington during 2006-2007, she worked on the staff of the House Committee on Financial Services on issues related to domestic and international monetary policy. Dr. Lavelle holds a PhD in political science from Northwestern University; an M.A. in government and foreign affairs from the University of Virginia; and a bachelor’s degree in international economics from Georgetown University. She is a permanent member of the New York Council on Foreign Relations. This transcript has been lightly edited for clarity and length. Interview conducted by Sid Mehrotra. Image Credit: Jason Leung, Unsplash Content Licenses, via Unsplash

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Jan 28 • 6:00 AM EST • Politics • gjia.georgetown.edu
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