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Progressives float ‘Green New Deal’ for health, schools
The bills would help the medical and education sectors prepare for the impacts of climate change.
Progressives float ‘Green New Deal’ for health, schools
The bills would help the medical and education sectors prepare for the impacts of climate change.
AFSCME Leader Lee Saunders to Retire as Unions Face New Opposition
Lee Saunders has led the country’s top union for local public workers at a time of growing public support and official opposition.
Germany's sick-note crackdown may be treating the symptoms, not the disease
Germany's plans to tighten sick-note rules may be mistaking the symptoms of rising absenteeism for the underlying illness, researchers say, pointing to mental health strains and deteriorating working conditions in sectors such as healthcare and education.
AI layoffs mount amid software sector bloodbath
The development of AI in recent years has led to situations where human work is replaced by AI, or AI can do the same job faster or at a lower cost
PILOT applications not necessarily reserved for primary sector businesses
Grand Forks city and county attorneys say state Century Code doesn't limit who can apply for PILOTs, while the state tax commissioner's office says PILOT applications are a local decision.
Kuwait Oil Company Signs US$ 16.0 Billion Infrastructure Partnership Involving Its Crude Oil Pipeline Network With a Consortium Comprising Blackstone, Brookfield and KKR
Kuwait Petroleum Corporation ("KPC"), the state-owned corporation overseeing Kuwait's oil and gas sector, today announced that its wholly owned subsidiary, K...
US business activity perks up in July, helped by World Cup, but trend may not last, S&P Global says
Activity in the vast U.S. services sector accelerated in July, aided in part by spending around the FIFA World Cup and the Independence Day holiday, while the pace of growth in the manufacturing sector eased to the slowest since March amid a slowdown in precautionary stock building prompted by the U.S.-Israeli-led war with Iran.
New warnings that Russian operatives are targeting the emails of US nuclear scientists and defense contractors
A group of Russian hackers has spent the last year targeting nuclear scientists, defense contractors, and government employees in a cyber-espionage campaign, according to private-sector researchers and warnings from spy agencies released Thursday.
Are Consumer Discretionary Stocks Lagging AMC Entertainment (AMC) This Year?
Here is how AMC Entertainment (AMC) and Bassett Furniture (BSET) have performed compared to their sector so far this year.
Andy Burnham to make announcement on support for hospitality sector
It is likely pubs and music venues will be helped with a reduction in business rates.
Health Ministry announces restaurant sector reform, eases requirements
The reform dramatically reduces minimum space requirements, allowing existing restaurants to add more tables by repurposing operational space previously required under the regulations.
Opinion | Politicians, Pensions and Public Unions
Collective bargaining in the public sector presents an obvious potential conflict of interest.
Health Care Roundup: Market Talk
Find insight on CSL, Sandoz Group and more in the latest Market Talks covering the Health Care sector.
Is Accel Entertainment (ACEL) Stock Outpacing Its Consumer Discretionary Peers This Year?
Here is how Accel Entertainment (ACEL) and Colruyt SA Unsponsored ADR (CUYTY) have performed compared to their sector so far this year.
Biz Talk Today TV's Franchise Value Spotlights the Business Behind Sports with Investment Strategist Shana Orczyk Sissel
CrossCheck Media announced today that Franchise Value, its newest original series on Biz Talk Today TV, officially premiered this month and returns today with another in-depth examination of one of the fastest-growing sectors in the global economy—the business of sports.
Dynasty Financial Partners's Latest Innovations
Houston-based registered investment advisor Americana Partners has stepped into a new avenue, having established a division catering to wealthy clients in the sports and entertainment industries. The new unit will serve athletes, entertainers, creators, agents, and coaches with support from former athletes, entertainment executives, and financial professionals. The division will offer wealth management services and other offerings, including income diversification, brand protection, intellectual property strategies, tax planning, and investment management. For clients in the entertainment sector, ...
Federal civil rights agency moves to stop requiring demographic data collection after 60 years
The Trump administration is moving to toss aside a 60-year-old requirement for tens of thousands of private sector employers to submit workforce demographic reports each year to the Equal Employment Opportunity Commission, the agency responsible for enforcing anti-discrimination laws in the workplace.
It’s time for consensus on science’s place in government
The latest shake-up of UK science policy oversight brings uncertainty to a sector that needs stability to succeed
3 newsy must-reads on AI in healthcare (plus 3 bonus picks)
1.) Some clinical AI has a fuzzy ROI. That doesn’t mean it shouldn’t be reimbursed. 2.) What makes biomedical research different from other sectors where AI has been quickly adopted? 3.) Unmoved by enthusiasm, health execs are making AI decisions around organizational priorities.
Axing UK science department risks slower policymaking, say tech leaders
Industry figures welcome Kanishka Narayan’s promotion as AI minister but warn shake-up could push sector down agenda
Local food policy panel seeks two new members with healthcare backgrounds
The commission is designed to integrate the public and private sectors into an effort to improve food availability.
Bill Gates heads to Africa's cleanest country to learn about its health success story and discuss its $50 million plan
One of the world’s richest men, Bill Gates, is heading to Rwanda to get a glimpse of the progress the Eastern African country has made regarding its health sector
Perspective: Abandoning business
For businesses in our industry and similar sectors, the recent primary results were an alarming wake-up call that many read as “get out of Dodge, now.” To say that the results in both the Democratic and Republican primaries were surprising and disturbing to many in the business community would be an understatement. On the Republican […]
Perspective: Abandoning business
For businesses in our industry and similar sectors, the recent primary results were an alarming wake-up call that many read as “get out of Dodge, now.” To say that the results in both the Democratic and Republican primaries were surprising and disturbing to many in the business community would be an understatement. On the Republican […]
Ranking Member Markey, Senator Hirono Reject Trump’s SBA Policy Proposal that Harms Underserved Small Business Owners and Entrepreneurs
Letter (PDF) (Washington, July 17) – Ranking Member Edward J. Markey (D-Mass.) and Senator Mazie Hirono (D-Hawaii) submitted a comment letter to the Small Business Administration (SBA) opposing a proposed rule change by Trump’s SBA to the 8(a) Business Development Program that would harm underserved small business owners and entrepreneurs. The 8(a) Business Development Program was created by Congress more than 50 years ago to level the playing field for small business owners and entrepreneurs who have faced discrimination in starting and operating their businesses. The SBA’s proposed change ignores the existence of historic discrimination that minority and underserved small businesses have faced and continue to face. In the letter, the lawmakers wrote, “SBA’s proposed rule ignores present-day barriers that entrepreneurs from minority and underserved communities face. Discrimination is not dead; minority entrepreneurs continue to face reduced access to contracting opportunities and capital, as well as racial threats and targeting, including unequal treatment, refusal by others to work with minority-owned firms, being called racial slurs, and bias in the workplace. These barriers lead to wide underutilization of, and less revenue for, minority-owned businesses compared to majority-owned businesses, as supported by decades of disparity studies. The proposed rule diminishes the history of systemic racial and ethnic discrimination in the United States by claiming that remedies for discrimination create discrimination in and of themselves.” The lawmakers continued, “The program has always been open to anyone who can prove they have experienced prejudice or cultural bias in education, employment, entrepreneurship, and other facets of our society. Nonetheless SBA has moved forward with the proposed rule. It lacks a reasoned basis, purporting that the federal government has discriminated against White Americans, but offering no substantive qualitative or quantitative data or research in support. If the examples provided in the proposed rule are the only basis for what constitutes discrimination to the agency, they are woefully insufficient. The final rule must provide strong evidence that there is discrimination against White individuals and show how the rule is narrowly tailored to address it. The record remains devoid of evidence of discrimination against White individuals on the basis of race.” Ranking Member Markey is fighting to protect federal programs that address historic discrimination against small business owners from minority and underserved communities, and for a small business agenda that ensures economic opportunity for all. In June, Ranking Member Markey released a statement condemning the SBA’s proposed changes to the 8(a) Business Development Program. Also in June, Ranking Markey released a new report highlighting Trump’s drastic reduction in federal contracting dollars awarded to American small businesses, including minority-owned small businesses. In February, Ranking Member Markey, alongside Senators Hirono and Cory Booker (D-NJ), and Representative Ayanna Pressley (MA-7), introduced the Strengthening Place-based Access, Resources, and Knowledge (SPARK) Act to spur entrepreneurship and increase access to capital and resources for underserved entrepreneurs nationwide. Ranking Member Markey previously held a field hearing in Roxbury, Massachusetts, to discuss how government and the private sector can come together to make entrepreneurship more accessible for underserved communities. Earlier in February, Ranking Member Markey secured funding with the Appropriations Committee for Small Business Development Centers, Women’s Business Centers, SCORE Chapters, and Veterans Business Outreach Centers and provisions to rein in the Administration’s attempts to eliminate programs that support women, veterans, and underserved entrepreneurs. In January, Ranking Member Markey sent a letter to the Consumer Financial Protection Bureau to oppose rule changes that would gut protections against discriminatory lending practices that harm small businesses. In December 2025, Ranking Member Markey sent a letter to SBA Administrator Kelly Loeffler expressing significant concerns with the SBA’s overly burdensome request and unclear guidance for extensive financial documentation over the holidays, as a part of their sweeping attempts to dismantle the 8(a) Business Development Program. In July and December 2025, Ranking Member Markey sent letters to the SBA Administrator demanding answers about the Trump administration’s efforts to limit economic opportunity for American entrepreneurs, including immigrants. In May 2025, Ranking Member Markey sent a letter to the SBA Administrator rejecting President Trump’s FY 2026 budget proposal and calling on SBA to immediately release funding for the entrepreneurial development programs, which include programs like the Women’s Business Centers and the Veteran’s Business Development Centers that support underserved small business owners. In April 2025, Ranking Member Markey introduced the New Start Act of 2025 to establish a five-year pilot program providing grants to support entrepreneurial development training for currently or formerly incarcerated individuals. In February 2025, Ranking Member Markey sent letters to the SBA Administrator and Government Accountability Office (GAO) condemning President Trump’s war on diversity, equity, inclusion, and accessibility (DEIA) policies and asking how the SBA intends to implement Trump’s anti-DEIA executive orders. ###
US Firm ABD Group Ramps Up Investment in Ivorian Health Infrastructure
ABD Group, the Africa-focused infrastructure development company, is expanding its investment in Ivory Coast’s health sector as the West African nation rolls out a new development plan.
Are Consumer Discretionary Stocks Lagging PENN Entertainment, Inc. (PENN) This Year?
Here is how PENN Entertainment (PENN) and American Outdoor Brands, Inc. (AOUT) have performed compared to their sector so far this year.
What is democratic socialism and how does it differ from forms practiced elsewhere?
Democratic socialism overlaps with social democracy on many policy goals but often advocates for a larger role for public ownership or worker ownership in certain industries, particularly sectors viewed as essential public services.…
The opioid offensive: Fighting fentanyl | Investors Lab
As the clinical-stage biotech sector tackles this multibillion dollar public health imperative, a mix of established players and venture-backed innovators are making strides:
The States Try to Topple WarnerMount…Thus Begins the Local Antitrust Era
(Welcome to the “Most Important Story of the Week”, my bi-weekly strategy column analyzing the most important (but often not buzziest) news story of the last two weeks. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. Please subscribe.) Well, it looks like it’s time for another strategy column. Can I finally avoid writing about M&A? No, it seems I cannot. Admittedly, I’m a week early with this column, since I usually put it out every other week. But this news couldn’t wait. This will make three “Most Important Stories” in a row with a merger or acquisition as its centerpiece. First, Roku-Fox (an acquisition), then Comcast-NBCUniversal (a divestment!), and now the State AGs and the WGA’s lawsuits against Paramount’s pursuit of Warner Bros. Discovery (antitrust). M&A is usually the “most important” topic any given week, simply because a giant company merging or breaking up (or preventing those outcomes) can have the biggest impact on the streaming board. If you think about these companies as players in a game, changing the number of players is one of the biggest changes you can make. I shouldn’t really complain, either, since this lawsuit is very good news for customers and suppliers (econ speak for talent, workers and indie studios in Hollywood). So let me answer some questions about this potential trial, along with (shudder) making some heavily caveated predictions. I’ll also look at whether Hollywood must consolidate, whether or not the states can win, trouble at X-Box, Netflix’s YouTube binge, and more. Plus, I have five images that visualize this merger and the harm, including three brand new data looks you’ve never seen before. Subscribe Most Important Story of the Week - Can The States and the WGA Stop Hollywood’s Consolidation (Crisis)? If every other newsletter and news outlet is writing about the same story, I try to avoid writing about it as well, but I can’t ignore a story this consequential. The story of the last year was the fate of Warner Bros. Discovery, and this development potentially extends that saga into 2027. As I tried to figure out my angle, I realized, like my last column, I’m again faced with a series of questions. These questions, though, are much more forward-looking. Will the states win? Will the WGA win? If so, what happens to Warner Bros. Discovery? Either way, will this chill the market for future mergers? So you know what that means: predictions. About the future, no less, the hardest thing to predict.1 Just remember: nothing here comes with a guarantee. And the more confident someone is in their predictions, the less you should trust them. This situation is incredibly fluid, nuanced, uncertain and tenuous. So let’s try to explain what may happen. Question: Why File this Lawsuit? I’ll admit, a few months back, I was fairly pessimistic about the fate of this lawsuit. Rumors had started bubbling up that the state Attorneys General (in particular California) wanted to settle with either some minor divestments (usually CNN) or behavioral remedies. And that tracked for me: the states usually settle lawsuits, like the recent John Deere right-to-repair suit. Yet, they plan to fight this. (As they did the LiveNation-Ticketmaster monopolization trial and the Nexstar-Tegna merger.) Honestly, that also makes a ton of sense. Frankly, this move is just good politics for these State AGs. Most are still running for higher and higher office in blue states—some folks have emphasized that only Democratic AGs joined this suit, but given the Ellison/Trump ties, and fears of retribution, that tracks—and a high profile case like this will help them move up the electoral ladder, especially since Paramount and its leadership (the Ellisons, father and heir) have sided with the other side of the political aisle. That makes them unsympathetic to Democratic voters and Hollywood workers in particular. Why did this lawsuit happen? In addition to the very real concerns about industry consolidation, this is why. That said, I don’t think we would have seen this lawsuit for Netflix and Warner Bros., simply because they’re more sympathetic and aligned with Democrats. But those consolidation concerns are real. The “town”—meaning Hollywood and such—really is seeing the damage of mergers on this industry. That’s why the WGA also filed its own lawsuit in defense of workers as well. (Wildcard: What about Europe? Will they try to stop the deal, too? There have been some rumors out of the UK they may try to fight the deal, and UK enforcers just stopped a Getty Images-Shutterstock tie up, so there is precedence. This argument could go either way, though. On one hand, the EU doesn’t need to step in, cause they states are handling it. On the other hand, this could make the EU’s case easier. Just imagine if both sides coordinated. I’ll simply say, “We’ll see!”) Question: Will The State AGs or the WGA Win? Can the state AGs play David to Paramount-Skydance’s Goliath here? That’s really the whole thing, isn’t it? If you know this result, you could make a lot of money. When things are uncertain, it’s tempting to shrug and say, “Eh” meaning it’s a 50/50 proposition. I wouldn’t, though. When in doubt, you should expect that the merging parties succeed. AT&T did successfully buy Warner Bros., after all, and Disney bought Fox without any challenges. Many judges are extremely sympathetic to mergers, and I’d bet the state AGs get a judge who will allow the merger. (Even Obama-appointed judges often allow mergers.) As I understand it, we’ll see two main attacks. First, theatrical films. The AGs are arguing that, when it comes to share of box office and the number of both “wide releases” and blockbuster (or “tentpole”) films, the merging parties will have over 27% market share. Now, the Supreme Court once ruled from on high that any merger that exceeds 30% is presumptively illegal, but that’s guidance, not an ironclad bar. Still, the states will have to argue that this is close to having too much power, and with that power, this will likely further worsen the theater/studio splits in particular. Indeed, as Matthew Stoller pointed out, “just five studios are responsible for 95% of all blockbusters; if this merger goes through, then Paramount and Disney will control 60% of that.” So yes, movie studios will be very concentrated after this merger. Want me to visualize some of that? Well, here’s the share of films that grossed over $200 million at the domestic box office since 2022. (Note: this isn’t all films released in over 3,000 screens, but it is a good look at market power.) First, here are the 43 films by studio: Notice all the blue (Disney), orange (Universal), and purple (Warner Bros)? Yeah, those studios are powerful, and this combines Paramount with one of them. Here’s the look by studio and share of the films that grossed over $200 million: Now, if you look at that and also think, “Huh, should we break up Disney?” I’m with you. I’ve seen some folks poo-poo this idea that this is a real category, but it is! For an upcoming article, I’ve been pulling data on the share of top 100 films at the box office as a share of total box office, and it’s massive. Here’s the chart: (This analysis looks at The-Number’s top 100 films and total domestic box office each year.) To be clear, tentpoles make up 80.7% of the box office each year, so I do think it’s a genuine market. (To be clear, films grossing over $50 million make up 80% of the domestic box office, and films grossing over $100 million make up 64.1%.) I mean, the top 100 films at the box office make up 95% of each year’s grosses. Worse, the combined studios will likely cut output to flex that market power. Everyone can just look at what happened to Disney and Fox to see the precedent. (With fewer films, the remaining theaters have to give more for those few films that remain.) Here’s an image I’ve used a lot, the share of wide-release films from Disney and Fox over time: The AGs will also argue that this consolidation will also impact the cable industry. In this case, the consolidation is actually worse, but that environment is…complicated. Paramount will argue that the cable industry is shrinking. That said, predictions that cable will “go to zero” also don’t look very well supported by the data, as the declines are shrinking, meaning “cable” or “vMVPDs” will likely stabilize at some point. Can the state Attorneys General win on those two main arguments? I honestly don’t know. Again, I’d bet no, since history in general supports that, but it depends on the judge/jury and how they interpret the arguments. Notably, Paramount won’t face accusations about monopoly power in other areas, like streaming, news, sports rights, or vertical integration. I tend to disagree with leaving out sports rights, but I also see the appeal for a simpler case. The states also aren’t really pushing novel theories about labor harm either, which should help. (By the way, Sean McNulty at The Ankler wrote a great run through of potential options, and Capitol Forum also wrote a great paper on theatrical consolidation. Both these pieces predated the lawsuit. Matthew Stoller is also out with his analysis of the pros and cons of the case too.) In some ways, the WGA’s case is even stronger. Quoting Sean McNulty’s summary: “The WGA is citing WARNAMOUNT as crossing a 30% market share in multiple sectors, a number that the Supreme Court has precedent for deeming “presumptively anticompetitive” in a market. According to the WGA numbers, WARNAMOUNT would have represented: - 35% of film writing jobs between 2021 and 2024 - 36% of TV writing projects between 2022 and 2025 - 38% of overall deals between 2021 and 2024” Notably, antitrust enforcers did win recently in the Penguin-Simon & Schuster merger by focusing on labor impact, so don’t count this thinking out. (Wildcard: Will the states try to get a jury trial? Most likely no, they’ll let a judge handle it. If I’m them, though, I’d try to put this in front of a jury. Juries tend to understand monopoly power in a more realistic way than judges faced with legions of economists.) Question: What if They Win? What if They Lose?
PayPal stock surges on reports of Stripe and Advent acquisition bid
PayPal shares soar as Stripe and Advent International reportedly propose a $53 billion acquisition, marking a major M&A offer in the payments sector.
Cartier Owner Richemont Posts Sales Beat on Strong Jewelry Performance
Sales at the luxury group rose 20%, bolstered by its jewelry business and despite a volatile market for the sector.
FTO designation exposes compliance gaps in Brazil’s entertainment sector
Following a domestic money-laundering probe that linked funk artists to Brazilian criminal groups and the subsequent US designation of two cartels as terrorist organisations, Brazilian legal practitioners tell Latin Lawyer they are updating sanctions-screening systems for entertainment-industry clients, reassessing their own onboarding processes for artists and producers and reaching out to Mexican peers for guidance on managing the fallout.
Ohio cut red tape. Now its business sector is thriving.
Permitting reform and deregulation aren't sexy policy ideas, but they are effective in driving job creation and making people better off.
U.S. National Science Foundation Announces Transformational Award to Connecticut's Quantum Tech Sector
'NSF Engines investments in critical technologies and future industries will transform America’s innovation infrastructure for decades to come'
The One Healthcare Goal That Could Change Everything
A cross-sector goal—making sure every American always knows the date of their next primary care appointment—could be transformative in its impact.
Handover of Health Commodities
Joint Handover of Health Commodities Speech of Chargé d’Affaires Steve Bremner (…) Thank you for joining us. I am here today to demonstrate how U.S. foreign assistance under President Trump’s America First Global Health Strategy and our bilateral health MOU makes America safer and stronger while helping Madagascar build a more self-reliant health system. Through our bilateral Global Health Memorandum of Understanding (MOU) signed in December 2025 with the Ministry of Public Health, our two governments outlined shared priorities and responsibilities, including a strong focus on infectious disease threats and Madagascar’s increasing ownership and co-investment in its own health system. The MOU outlines the structure and terms of U.S. support to Madagascar’s health sector from 2026 through 2030, with a total commitment of $134,305,000 from the U.S. government and $41,216,252 from the Government of Madagascar to work jointly to address malaria, maternal and child health, polio and global health security issues. Stronger health systems help prevent instability and reduce the risk that infectious diseases reach the United States, making both our countries safer. America First foreign assistance is clear and disciplined: It is a tool of strategic engagement, not global charity. Every U.S. taxpayer dollar must show measurable results, reduce long-term dependence on U.S. taxpayer resources, and support greater self-reliance in recipient countries. Support must be efficient and targeted, with zero tolerance for fraud, waste, or abuse. This year, through the U.S.-funded Global Health Supply Chain Program – Procurement and Supply Management project, we are distributing: 989,250 long-lasting insecticide-treated nets, worth $2,000,000 to 63 districts and 1,661 Community Health Centers across Madagascar, with the third and final delivery of these nets having arrived in late June. Through the U.S.-funded Momentum Country and Global Leadership (MCGL) project, we are funding: The full cost of Starlink internet connectivity equipment procurement, installation, and one-year subscription for 31 priority District and Regional Health Offices. Through the U.S.-funded Strengthening Infectious Disease Detection Systems project, we are supplying: 908,523 pieces of critical medical equipment and a modernized digital surveillance system to the Ministry of Public Health. These materials will strengthen health systems, improve response capabilities, and help those most in need of protection from mosquito-borne diseases — particularly malaria, which continues to claim the lives of children and women at an unacceptable rate. Deployed effectively, they will contribute to reducing maternal and newborn mortality in rural and hard-to-reach communities where the need is greatest. In these same underserved areas, Starlink connectivity will play a critical role in enabling the rapid transmission of health data and information to central levels, ensuring that decision-makers receive timely, actionable intelligence and can mount swift, coordinated responses to protect populations. For Americans, this support delivers concrete benefits. Stronger health systems in Madagascar help detect and contain infectious diseases before they spread across borders, protecting American and Malagasy families. More stable, healthier countries can expand trade and economic cooperation with the United States. Our goal is not permanent support; it is temporary, targeted assistance that helps Madagascar save lives while achieving greater self-reliance and independence from foreign assistance. To the health workers and community health agents here that will use the products we’re delivering today: your dedication and skills save lives. Your work exemplifies the kind of local ownership that will enable Madagascar to reduce dependence on foreign assistance and manage the country’s health challenges. This targeted support delivers results today while helping Madagascar build toward a future where it can sustain and expand those health gains independently, ensuring that today’s U.S. support leads to Madagascar’s self-sufficiency. Thank you, Misaotra.
Metaverse Market Surge: Entertainment Industry Set to Quadruple by 2032
The global metaverse in entertainment market is experiencing rapid growth, with its market size expected to soar from over USD 30.6 billion in 2026 to more than USD 121.9 billion by 2032. This expansion is driven by increasing demand for interactive digital experiences and technological investments from gaming, media, and tech sectors. Mixed Reality (MR) devices are predicted to grow the fastest, enhancing digital interactions in gaming, concerts, and sports. North America is a key player, leadi
India's TCS rejigs leadership team, creates new business units
Tata Consultancy Services announced a top-level leadership reshuffle and formed five new business units focused on growth in the U.S. West Coast market and its ServiceNow practice as AI threatens to disrupt the $315 billion Indian IT sector.
Leading UK research facility Diamond Light Source faces cost cuts
Particle accelerator used by both public and private sector scientists is part of 15% research centre savings
Hungary moves to overhaul university models banned from Horizon Europe
Hungary’s new government is aiming to overhaul the governance model of the institutions and universities that lost access to Horizon Europe and Erasmus+ funds “in a short timeframe,” according to Péter Horváth, the new state secretary for science policy and innovation. “As of today, the two non-university foundation-controlled institutions under my remit have been transformed,” he told Science|Business. “We hope the universities will follow and that this will be enough to satisfy the EU’s demands.”Under the previous government, led by Viktor Orbán and his Fidesz party, many academic and scientific institutions were restructured and made into special public trust foundations, with members strongly linked to the government given lifelong mandates and significant decision-making powers with little oversight. The European Commission deemed that this undermined academic freedom and transparency in the country, leading to a ban on 34 institutions in 2022, including 21 universities, which saw academics in Hungary lose access to Horizon Europe grants. The new Hungarian government, elected in May and led by Péter Magyar and his Tisza Party, has promised to dismantle this governance model and restore the institutions to EU programmes. As a result, the European Commission has promised to return access to the Erasmus+ education mobility programme, but so far no concrete agreement has been made on the Horizon Europe programme for research and innovation. Hungary has already made legislative changes in June to allow the institutions to be reformed and set a timeline for the implementation.The non-university foundations, which are mainly cultural centres such as the Foundation for Hungarian Culture or the Makovecz Campus Foundation, will all be dissolved by August 31 this year, a date tied to EU-set milestones that Hungary must meet to unlock frozen funds, with control transferred to relevant ministries. Meanwhile, the universities will have until 31 August 2027. For each university foundation, the government will set the dissolution date and the body to take over operations. There is no final decision on a permanent new model for the universities, according to Hungarian MEP Eszter Lakos, who is shadow rapporteur for the Horizon Europe specific programme, a separate piece of legislation detailing implementation rules for the EU’s next research programme, due to start in 2028. “The aim of the transition year is to settle this with [the universities], not to impose a model, and not to put them under state control,” she told Science|Business. “The goal is to give academic independence back to universities.”There are three models that are most likely to be implemented. One would be a return to a traditional, state-run model. Another could be a newer, more self-standing public institution. A third option would be a reformed version of the foundation models that meet EU standards. According to Lakos, the dismantling of the system put in place by the Orbán government is well underway and if all goes according to plan, Hungary could regain access to EU research money by the start of the next academic year in 2027. “I believe that the Hungarian government is doing the necessary changes so the universities could return as beneficiaries to Horizon from the next school year,” she said. In the meantime, “the universities, institutes and cultural assets carry on under proper public stewardship rather than a handful of unaccountable trustees,” said Lakos. The laws passed in June impose new safeguards: board terms are capped at four years and renewable only once, appointments are made through open competitions and sitting politicians cannot join joining these boards.It remains unclear whether a domestic science funding programme set up as a back-up scheme by the former government following the EU funding ban, called HU-rizon, could be continued. “This programme should never have had to have been established in the first place, but it has proven to be quite popular,” he said. “I am considering continuing this programme with a refined focus on helping international collaborations.”Re-organising the research network One of the first priorities for Horváth and his cabinet is to resolve questions over the future of the Hungarian Research Network, Hun-Ren. The network of academic institutes was taken away from the Hungarian Academy of Sciences in 2019 and turned into a quasi-private organisation, with similarities in its governance to the public trust foundations.Horváth and his team have consulted over 5,000 representatives from the network and the conclusion is broad unhappiness with the directors of all the institutes involved. “We have presented the results to the president and the chief executive of the network and this is currently being discussed,” Horváth said. The plan is to re-integrate the network back into the Academy of Sciences but in an improved way, “learning from mistakes of the past,” he added. The government also wants to reintegrate four humanities and social science research centres into the network that the previous government had transferred to Eötvös Loránd University. The transfer brought sharp criticism from the academic community, with a group of Hungarian research heads, including European Research Council grant recipients, sending an open letter to Orbán warning that the transfer would “cause historically significant harm to the entirety of Hungarian scientific life.” The transfer was “one of the biggest shames in Hungarian research in the past 20 years,” Horváth said. “We want to immediately re-integrate them back into the research network and to regain the trust of these institutions, because the way they were treated was really unfair.”Another pressing issue is the Élvonal Excellence Research and Talent Development Foundation, led by Nobel laureate Ferenc Krausz. The foundation signed a financing agreement with the former government earlier this year for a budget of over €730 million over the next five years. The goal is to create a world-class centre to attract top talent from abroad and to develop local researchers. But there was little transparency about this foundation, and news of its huge budget, which is nearly as much as Hungary’s entire research budget, caused a stir in the media following the recent elections. Another issue is that, as with the foundation boards of the institutes banned from Horizon Europe, there was little-to-no oversight of decisions led by Krausz. “It was an excellent idea but an unacceptable execution,” Horváth said of the foundation. “The fact that this is out of the Hungarian funding scheme, mostly concentrating on one person who decides on the budget is unacceptable for us.”The government plans to merge the centre with the National Research, Development and Innovation Office, the country’s R&D funding agency, with a reduced budget. Horváth is hopeful that Krausz will still be involved. The new government’s R&D goalsA phrase that crops up regularly during the discussion with Horváth is “democratic process.” The new state secretary is determined to involve Hungary’s research community in shaping future policies. This marks a departure from the previous government’s approach, and several people in Hungary’s research community have commented on the openness of the new government. In terms of concrete goals, Horváth and his team already have plans. He wants to create a new science fund in Hungary, based on the best practices of other European countries. The fund would not be tied to annual government budgets and would provide long-term, stable financing. “If we were to succeed in creating this fund, then I think it would be one of the biggest achievements for me in this period of government,” Horváth said. On the innovation side, he is looking into how best to bring in the private sector. “We want to make sure that we are working with the private sector to support innovation,” Horváth said. One of his big aims is to introduce entrepreneurship teaching into high schools. Hungary already has a reputable national academy offering research and innovation training in the field of natural sciences, and Horváth wants to expand this to all disciplines and across the whole country. “One of the main ways to elevate our innovative businesses is to teach our children to be innovative,” he said. “This will probably need ten years to pay off, but this is what we should do. Our aim is to make Hungary strong in our region, and this is what is needed.” Related articlesHungary’s Horizon Europe performance in numbersCommission unlocks Erasmus+ cash for Hungary, Horizon could be next‘Academic Huxit.’ Hungarian researchers speak out on impact of EU ban A more difficult task will be funding. The new government is aiming to increase research spending to 2% of the GDP by 2030, and then increase it to 3% in line with EU objectives. Currently, spending sits around 1.3%. But according to Horváth, the current budget, inherited from the previous government, is “heavily in the negative,” so any plans to increase research spending will have to start next year. Achieving 2% by 2030 already needs a big push, almost doubling the research budget. “This is something we’d definitely like to reach, and something I can see us achieving,” he said. “From the 2030s, I’d like to see an innovative generation growing up that can help us reach the 3% target.” Positivity in the new governmentDespite the many challenges facing Horváth and his team, the mood is positive. “It feels a bit like a start-up right now. Everyone is working 24/7, day and night, trying to do as much as they can. There is a lot of energy,” he said. It is a big change for the state secretary who, like many in his cabinet, is coming from a background in research or business, and not in politics. “Six weeks ago, I was sitting with my microscope and my research PhDs, so it’s been a big change for me,” said the computer scientist, who was previously the director of the Institute of Biochemistry at the Hun-Ren Biological Research Centre in Hungary and worked at the Institute for AI for Health at Helmholtz Munich. But he is relishing the task to transform the country’s R&D landscape. “We feel enormous support from the Hungarian people, but also from Europe,” he said. “We’ve received a lot of letters of support from around Europe. There is big trust there, and huge responsibility on our side. We want to get everything back on track, and there’s a lot to do.”
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