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Olympics news, live updates: Chloe Kim going for three-peat, and will Kristen Santos-Griswold get redemption
SailGP anchors in Pensacola. Its state-of-the-art training base could transform the sport
With a six-year deal in place with SailGP, this high-tech center in Pensacola, Fla. is going to be very busy indeed.
Yankees float encouraging Gerrit Cole possibility as team enters...
Gerrit Cole threw “a number” of bullpen sessions back home before arriving at camp, about 11 months after undergoing Tommy John surgery.
Twin Cities health care workers describe 'fear,' 'intimidation' due to ICE in hospitals
Health care workers experience fear and anxiety about going to work with ICE agents present in hospitals and clinics.
Sunderland v Liverpool: Key stats and talking points
Sunderland will aim to continue their unbeaten home record this season against a Liverpool side who lost late on at home to Manchester City on Sunday. BBC Sport examines some of the key themes going into their meeting at the Stadium of Light. Sunderland will attempt to bounce back from a competitive, if ultimately comprehensive defeat, at Arsenal on Saturday back in the secure surroundings of the Stadium of Light.
Samsung to hold its Galaxy S26 event on February 25
Samsung is going to launch S26 lineup just before Mobile World Congress (MWC).
Utah police investigate whether assault on Maxwell Frost should be prosecuted as a hate crime
Multiple accounts show Christopher Young called Frost and a woman with him 'the kind we are going to deport.'
House panel subpoenas 8 health insurers
House Republicans on Tuesday subpoenaed eight health insurance companies for information as part of an ongoing probe into allegations of fraud within Affordable Care Act (ACA) subsidies. The subpoe…
Mewgenics Guide: 10 Tips To Know Before Playing
Here are some top tips to have in mind before you get going in the roguelite battler
Underwear optional? The health pros and cons of going commando
There are times when it is better to wear underwear than not. Here’s what the experts say
'It's going to be an intense one': U.S-Canada in women's hockey is one of the best rivalries in sports
How is each team playing? Who are the key players in Tuesday's preliminary-round game? We break down the first meeting between the rivals at the 2026 Winter Olympics.
Last Call for 2.9.26 – A prime-time read of what’s going down in Florida
A digest of the day's politics and policy while the bartender refreshes your drink.
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.
PNW-dedicated furniture chain closing all locations, going-out-of-business sale underway
A small furniture chain in the Pacific Northwest is closing its doors after nearly 40 years.
PNW-dedicated furniture chain closing all locations, going-out-of-business sale underway
A small furniture chain in the Pacific Northwest is closing its doors after nearly 40 years.
PNW-dedicated furniture chain closing all locations, going-out-of-business sale underway
Kasala Modern Home Furnishings, a small furniture chain in the Pacific Northwest, is closing its doors after nearly 40 years.
As Helldivers 2 sends players in to destroy the Cyborg menace, Arrowhead details its plans for the future of the game
Helldivers 2 is sending us to the Cyborg world of Cyberstan, and game director Mikael Eriksson has discussed how Arrowhead approaches the ongoing narrative.
‘Overwatch’ Actor Supports A Redesign Of Her Own Character, Anran
The voice actress of Anran, Overwatch's new hero, is going on the record supporting fans' idea that she should be redesigned.
Herefordshire farmer to walk 142 miles for mental health support
Sam Stables says he wants to make people aware of what farmers are going through.
Authorities search Annie Guthrie's home in the case of missing mom Nancy
Law enforcement agents were seen searching the home of Annie Guthrie, 'Today' anchor Savannah Guthrie's older sister, amid the ongoing investigation into their mother's disappearance.
Best 2026 Super Bowl LX ads
The Seahawks and Patriots are not the only ones competing in Super Bowl LX. Advertisers are also going head-to-head.
U.S. Olympic athletes in Italy are speaking out about the political situation at home
American skiers Mikaela Shiffrin and Hunter Hess and other Milan-Cortina Olympic athletes aren't shying away from talking about what's going on in the United States.
Trump lashes out at American Olympian who expressed dim view of US politics
"Just 'cause I'm wearing the flag doesn't mean I represent everything that's going on in the U.S.," skier Hunter Hess said at a news conference ahead of the games.
Patriots’ 2025 season already a success even before Super Bowl
The Patriots will be playing for a championship one year after going 4-13.
I'm a CEO who grew a 'boring' air filter business into a $260 million company, and AI is going to help blue-collar, everyday people just like me
We’re entering a phase where AI stops being a topic and starts being infrastructure. It will show up in how work actually gets done.
Apple Prepares to Kick Off 2026 With the iPhone 17e, New iPads and Macs
Apple is going to begin a 2026 product blitz with the iPhone 17e, updated iPads and fresh Macs. Also: Here’s exactly what CEO Tim Cook told employees about immigration, artificial intelligence and the company’s 50th anniversary during an all-hands meeting. Lastly, the iPhone maker scales back plans for a major new health service.
Ex-Celtics Superstar Rooting For Patriots In Super Bowl LX
The New England Patriots have seen plenty of notable people voice their support ahead of Super Bowl LX. Mark Wahlberg and Kenny Chesney made special appearances in the club’s hype video. Kendall Jenner let everyone know who she thought was going to win last week. Tom Brady finally succumbed to the pressure and put out […]
Highlights! Figueroa Knocks Out Ball In Final Round!
Nick Ball and Brandon Figueroa went to war earlier today (Sat., Feb. 8, 2026) in Liverpool, England for Ball’s WBA Featherweight title in what was an absolute back-and-forth affair. Going into the twelfth and final round, the scores were very tight and it was anyone’s fight to win at that point. But just five seconds […]
Multiple ex-Sixers cut loose by Memphis Grizzlies
A couple of former Sixers are going to be free agents.
Saying 'Yes': Bridgmon staying active with music career, additional entertainment ventures
The year 2025 was an eventful one for Steve Bridgmon — and it’s looking like that momentum is still going strong.
Jennifer Garner reacts to Once Upon a Farm's eye-popping IPO
Co-founders Jennifer Garner and Cassandra Curtis talk about their children's food company Once Upon a Farm going public on the NYSE.
Windows 11 is finally killing off legacy printer drivers in 2026 — and it’s going to shake up a lot of older hardware
The next system update for Windows 11 could break your printer. Here's what you need to know.
For Broncos fans, the price of fandom keeps climbing
Going to games is getting pricier, fast.
Apple's AI Health Coach Project May Need a Wellness Check
The company's ambitious plans to introduce a virtual health coach may be going back to the drawing board, according to a report.
Pokemon Gen 10 beta screenshots leak
New Pokemon Gen 10 beta screenshots have leaked online. The new games, currently going by Pokemon Wind and Wave, will be announced soon.
Rocky’s Great Outdoors closing Burton store after 50-plus years in business
Rocky’s Great Outdoors, a staple in Burton’s business community since 1971, is going out of business.
Nintendo working to "secure stable supplies of memory components" to avoid hardware price rises
Platform holder says it does not expect its Q4 results to be affected by ongoing memory shortage
Canadian travel to the US is still low, new data shows
Statistics Canada data show fewer Canadians traveling and returning from the US, amid ongoing border fears, tariffs, and the "Buy Canadian" movement.
Dallas businesses fear I-30 project disruptions
Could I-30 construction spell disaster for Dallas businesses? See how ongoing detours are taking a toll.
Would raising Pennsylvania's minimum wage be good for business?
Pennsylvania’s minimum wage may be going up for the first time since 2009.A bill raising it to fifteen dollars an hour has passed in the state House of Represen
FDA announces recall of Johnson & Johnson devices after multiple injuries, 1 death
The devices are being recalled due to a higher-than-expected failure to detach rate. Customers should not use them going forward.
Windows 11 now locks Storage settings behind admin rights — and it’s going to confuse a lot of people
If opening the Storage settings feels off, you're right. Microsoft made changes to require elevation to open these settings on Windows 11.
Ripple effects of Giannis staying with Bucks: How trade market changes this summer
Giannis Antetokounmpo isn't going anywhere, and neither will the trade chatter
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.
Pieter Mulier to Design Versace, Prada Group Confirms
The outgoing Alaïa designer and long-time lieutenant of Prada co-creative director Raf Simons will be tasked with revitalising Prada Group’s new acquisition, following the ouster of Dario Vitale in December.
Storied Staten Island fur coat business closing after 55 years
As a family legacy comes to a close, a going out of business sale is going on now.
Uncertainty looms large for Minnesota businesses
While it’s too early to draw firm, data-driven conclusions, no one is going out on a limb by saying the combination of turbulence and uncertainty seen in Minnesota right now will exact an economic price on the state.
New Politics Project – European Council on Foreign Relations
European politics is undergoing a long-term process of transformation. The mostly stable, big-tent party systems of past decades have given way to more fragment
USG taps next CEO with current chief set to retire
Chicago-based USG will have a new chief executive come spring as outgoing CEO Christopher Griffin is set to retire from leading the buildings material manufacturer at the end of June.
Overwatch's New Season 1 Is What the Game Was Always Meant to Be
A commitment to an ongoing story and more frequent new heroes, including five right now, move the game in the direction it always seemed to promise.
McNeese Transitioning to Online Classes and Remote Business at Noon
Due to ongoing electrical issues in several academic buildings, McNeese will transition to online course delivery and remote business operations beginning at 12 noon today, Wednesday, Feb. 4, 2026.
'Let a thousand flowers bloom': Jensen Huang says demanding ROI from AI is like forcing a child to make a business plan for a hobby
You don't ask your kids to prove to you how they're going to make money for you, Huang said. "We never do that at home. But we do it at work."
HCPro Joins National Cooperative of Health Networks to Support Rural Healthcare Workforce Development
Chicago, IL, Feb. 04, 2026 (GLOBE NEWSWIRE) -- HCPro, a leading provider of healthcare education and regulatory solutions, today announced its partnership with the National Cooperative of Health Networks Association (NCHN), reinforcing HCPro’s commitment to supporting rural and community healthcare organizations through practical, role-based workforce education. As a partner of NCHN, HCPro will contribute expertise and resources to help rural health leaders address ongoing workforce challenges,
AMD Says Valve Is 'On Track' to Ship Steam Machine Early This Year, but We Still Don't Know the Price
What’s going on with Steam Machine? Valve has been relatively quiet on the upcoming hardware since announcing it last year, and it remains without a release date or a price. But AMD, which powers Steam Machine itself so you’d like to think it’s in the know, has said Valve is “on track” to begin shipping early this year.
Here's what we know about the Milwaukee County health benefits lapse
What we know and don't know about the Milwaukee County health benefits lapse that's going to a County Board vote on Feb. 5.
A Grip on Sports: I'm no visionary but it is easy to see the path to the Seahawks' second Super Bowl win
A GRIP ON SPORTS • Where were we? Oh, yes. Making sure our insides are not outside a safe zone. Turns out, they are doing just fine. Now we can get back to doing what we do best. Getting you ready for the Super Bowl. The one the Seahawks are going to win.
NFL coaching carousel: College assistants drawing growing interest
The wave of coaches going from college to the NFL ranks has begun.
I Bought the Galaxy Z TriFold for Over $3,000. Follow Along as I Test It (Live Updates)
Samsung's buzzed-about new phone was tricky to get my hands on, but I'm excited to use it. Here are my ongoing observations.
Real Madrid captain posts strong message after Rayo Vallecano omission
Dani Carvajal is going through one of the most testing phases of his long and successful career at Real Madrid. The club captain was once again left without a single minute on the pitch during the re...
'We're going to handle it together': Some Winston-Salem businesses stayed open through winter storm
Businesses WXII spoke to say they wanted to give folks a place to go during the storm, knowing that many other businesses would be closed.
Health leaders launch ‘Minnesota Revalidate’ to combat Medicaid fraud
State health leaders announced Monday they’re launching “Minnesota Revalidate" in an effort to combat ongoing Medicaid fraud involving thousands of providers that’s impacting patient care.
Jelly Roll Says He’s ‘Disconnected’ From Politics, But Will Be Ready to Speak Out ‘Soon’
Jelly Roll said he was largely 'disconnected' from what's going on in America, but planned to speak out 'soon,' after winning a Grammy last night.
Bob Iger Acknowledges Rivalry Between Entertainment & Parks To Drive Disney Profits, Says Both Have “Ability To Grow Nicely”
The CEO noted "a healthy competition ... in terms of which of those two businesses is going to essentially prevail as the number one driver of profitability."
County staff seek clarity on how often sports leagues use the fields they reserve
Arlington County parks officials plan to renew efforts to determine how often sports leagues actually end up using the fields that they reserve in advance. The initiative has been ongoing for nearly two years but remains "a work in progress," said Ignacio Rodriguez, manager of sports leagues and athletic-field management for the Department of Parks
Apple's Button-Less, All-Glass iPhone 20: The Huge Redesign Coming in 2027
2027 is going to be a big year for iPhones and here's what you can expect.
Of course the Grammys were going to be political. But that’s not all that happened
Bad Bunny and Kendrick Lamar swept a Grammys marked by political moments, emotional tributes, a fair bit of nudity and one confusing appearance from Cher.
Celtics’ Joe Mazzulla Reveals Plan For NBA Trade Deadline
The NBA Trade Deadline is coming up on Feb. 5, and players are already starting to change teams. The Boston Celtics are in an interesting position this year. While they were expected to be deadline sellers coming into the season, they’ve wildly surpassed expectations, going 31-18 and ranking second in net rating. Accordingly, the Celtics […]
Jelly Roll Is Changing His Tune About Talking Current Events: ‘Everybody’s Going to Hear Exactly What I Have to Say in the Most Loud and Clear Way’
Jelly Roll is about to speak out on politics, he vows at the Grammy Awards.
Goalie Fight! Bruins’ Jeremy Swayman Drops Gloves In Stadium Series
Boston Bruins goaltender Jeremy Swayman has been looking for a fight… for years. If you thought he was going to pass up an opportunity to finally drop the gloves on a national stage during the Stadium Series against the Tampa Bay Lightning, you’re even crazier than he is. Swayman, who kickstarted the tension by leaping […]
The Drip Bar celebrates February Wellness & Heart Health Month
Looking for a way to boost your health this February? The DRIPBaR has unveiled its Heart Health Month specials, featuring deals on popular drips and shots and a special event called "Stay on the Beat." Check out a list of ongoing specials, as well as drip packages themed for the big game and Valentine's Day!
Middle Tennessee businesses struggle with supply chain, power issues from winter storm
Middle Tennessee businesses face ongoing supply chain issues and power outages more than a week after winter storms, impacting operations and revenue.
How Disney Is Investing In Sports To Bring In New Fans
While Disney’s partnership with championship games isn’t going anywhere anytime soon, the company is growing its partnerships with sports teams, events and leagues.
Can Google's Project Genie really 'make Mario and Zelda games' from text prompts?
Nintendo isn't going to be happy.
Security Bite: X going open-source is bad news for anonymous alt accounts
9to5Mac Security Bite is exclusively brought to you by Mosyle, the only Apple Unified Platform. Making Apple devices work-ready and enterprise-safe is...
Gaming Stocks Plunge As Google AI Clones 60 Seconds Of ‘Fortnite’
Google Genie 3 has caused market fears that big video games are going to start being easily generated by AI. That is not even close to the case.
Netflix may be turning into an ‘entertainment giant,’ but its stock looks like ‘dead money’ to investors
"They had this really great profitability story," S&P's Melissa Otto says. But when that feels priced in, "that's probably going to spoil the market."
Netflix may be turning into an 'entertainment giant,' but its stock looks like 'dead money' to investors
"They had this really great profitability story," S&P's Melissa Otto says. But when that feels priced in, "that's probably going to spoil the market."
The 6-6-6 Walking Challenge Is Going Viral for Weight Loss and Other Benefits. Does It Work?
Discover whether the latest fitness trend is safe and effective.
What's the point of going back to the moon?
Artemis II is set to blast off to the moon in early February with four astronauts, including the Canadian Space Agency's Jeremy Hansen. But we've already been to the moon, so why are we going back? Do we get any benefits here on Earth?
Penguins are hot, Rangers are not ahead of meeting
The Pittsburgh Penguins and New York Rangers are heading in opposite directions going into their game on Saturday afternoon in Pittsburgh.
Saks Off 5th closing stores, Saks off fifth liquidation sale in Shrewsbury
Saks Off 5th will start going-out-of-business sales on Jan. 31, including its Shrewsbury, Elizabeth and Bridgewater stores.
Falcons hire Ian Cunningham; NBA, MLB Power Rankings; Top 25 NFL stories of 2025
Plus Buffalo's Josh Allen has his recovery timeline after undergoing foot surgery
Why some Greater Cincinnati businesses are taking part in national ‘ICE out’ strike
Multiple small businesses in Greater Cincinnati are participating in a national strike in response to the ongoing conflict involving Immigrations and Customs Enforcement operations.
'Can't operate business as usual when this is going on': CO businesses participate in nationwide shutdown
Several Colorado businesses are participating in a nationwide shutdown Friday in protest of ICE operations in Minnesota.
Mid-Michigan entertainment for the weekend of Jan. 30 to Feb. 1 and beyond
Check out what’s going on around the region.
Should the Rams really go ‘all in’ again?
The Rams going “all in” for one final year with Matthew Stafford makes more sense on the surface than after a deep dive
Trump reveals when he will announce the next Fed chair
President Trump says he'll announce Jerome Powell's replacement as Federal Reserve chair Friday morning, escalating his ongoing criticism of monetary policy decisions.
IDF officials shift stance, accept Gaza Health Ministry data on death toll
After two years of war, senior military officials for the first time aligned with an update from Gaza’s Hamas-run Health Ministry, saying they estimate about 70,000 Gazans have been killed, excluding the missing, while stressing that efforts to distinguish terrorists from civilians are ongoing
Minnesota farm communities say ICE surge "is going to be very damaging" for business this year
Health Care Provider Consolidation
I. Issue Overview Ongoing consolidation among hospitals, physician practices, and other providers poses a serious challenge to the U.S. health care system—offering potential benefits to some but also with significant worrying impact on rising health care prices. Provider consolidation remains pronounced among both hospitals and physician practices. The share of hospitals operating independently declined from … Continued
Popular streaming service is shutting down. Here’s when it will start going offline
Nintendo might have accidentally revealed when the shutdown will be begin.
The President Sees Iran as a Gas Station with a Flag
Get ready—Trump is going to be talking about the country for a while to cover for the fact that he’s backed down on Greenland and Minneapolis.
Plain Talk: 'Politics is noise'
On this Plain Talk, we were joined by outgoing North Dakota House Majority Leader Mike Lefor and Democratic-NPL U.S. House candidate Trygve Hammer.
How your health is being commodified by social media
From heath tech developers to influencers, our health is being monetised – and we need to be aware of what's going on, says Deborah Cohen
Blackhawks’ Connor Bedard nightmare continues with embarrassing moment
Things just aren't going well right now.
Firefighters respond to business fire in West Jordan
In and out of the buildling.Fans and a hose going into the building.Several firefighters and engines responded to the scene.Rocky Mountain Power responded
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
Business owners moving forward as probe ongoing in Millcreek fire
As the investigation continues into a large fire that leveled a multi-tenant business building in Millcreek, firms seek new homes.
Harley's late goal lifts Stars past Blues, 4-3
Thomas Harley’s goal with just over a minute left short-circuited a late rally by the St. Louis Blues and lifted the Dallas Stars to a 4-3 win on Tuesday night. Matt Duchene scored a pair of goals for his first multigoal game since Feb. 8. Roope Hintz also scored and Jake Oettinger made 23 saves, as the Stars won for the third time in their last four games and improved to 10-2-1 against St. Louis going back to Nov. 28, 2022.