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North Houston restaurant customer opens fire outside business; bystander shot
A bystander was sent to a hospital Saturday night after being shot by an angry customer outside a north Houston restaurant.
93-year-old woman dead after wandering from health care facility in Windsor Locks
A 93-year-old woman has died after being found on the ground outside a health care facility in Windsor Locks early Sunday morning. Staff at the Bickford Health Care Center noticed the woman wasn’t in her bed around 4:45 a.m. and began to search for her, according to police. She was equipped with a device that is supposed to activate if…
Social media companies are being sued for harming their users’ mental health – but are the platforms addictive?
Experts say the term ‘addiction’ is be overused and, for social media use, could be difficult to prove
Americans are being charged sneaky fees for routine health care. Here's why it's happening and what you can do about it
A visit to your family doctor may come with a surprising surcharge.
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.
Office buzz: UK employers turn to beehives to boost workplace wellbeing
Providers report rise in demand as companies seek mental health benefits and increased sense of community
On Harvey Elliott, the Business of Sport, and Loyalty
Liverpool are a club that, for the big spending that took place over the summer, look a bit light given a string of injuries across different departments of the first team. While the biggest concerns are on the defensive end, with right-back and center-back being particularly light with injuries to Conor Bradley, Jeremie Frimpong, and […]
Savannah Black Heritage Festival brings health and well-being
SAVANNAH, Ga. (WSAV) — The Savannah Black Heritage Festival brought health and well-being to the city on Saturday. The 100 Black Men of Savannah and the Savannah Black Heritage Festival teamed up t…
6 Healthiest Citrus Fruits for a Natural Immunity Boost
Citrus fruits are known for being high in immune-supporting vitamin C, but they also contain other antioxidants and nutrients that support overall health.
WHO says fatal case of Nipah virus confirmed in Bangladesh
Authorities say that steps are being taken to contain the virus and that a risk of global spread remains low.
Scientists Are Building Detectors to Reveal the Invisible Universe
Most of the universe is made of dark matter and dark energy, yet scientists still don’t know what either one is. New ultra-sensitive detectors are being built to spot incredibly rare particle interactions that could finally reveal their nature. Scientists have made remarkable progress in understa
Experts Warn: The Dangerous Blur Between Science and Wellness in Mental Health Bestsellers
A marketplace where labels blur In many bookstores, titles rooted in clinical science sit inches from glossy self-help guides promising instant serenity. That proximity can make rigorous research look interchangeable with lifestyle advice, especially when everything shares the same bright displays. Readers encounter a single aisle labeled “psychology,” even when the content ranges from peer-reviewed evidence to spiritual rituals. The result is a subtle but pervasive blur, turning a complex health landscape into a grab-bag of mixed claims. Why the shelves can mislead Retail categories are built for convenience, not for methodological clarity or clinical accuracy. When “development personal” or “wellness” becomes the default bin, evidence-based psychology competes with coaching manifestos and mystical manuals. The visual language of covers—calming color palettes, confident subtitles, glowing endorsements—flattens the distinction between randomized trials and anecdotal wisdom. In that aesthetic harmony, a guide on cognitive behavioral therapy may appear no more “serious” than a book on moon manifestation. The stakes for readers and patients Confusion carries real risks, including delayed care when people self-treat serious symptoms with untested routines. Vulnerable readers—facing depression, trauma, or anxiety—may be swayed by charismatic voices over careful data. Some messages frame recovery as pure willpower, which can amplify shame when symptoms persist despite effort. Others overpromise universal solutions, ignoring cultural context, diagnostic nuance, and comorbidity. “Shelving is not neutral; it shapes beliefs, expectations, and choices.” What professionals and retailers are asking Clinicians and public-health experts argue for clear, readable signage that separates science-based mental health from broader wellness. Books by licensed psychiatrists or psychologists that cite peer-reviewed studies could be grouped under “Evidence-Based Mental Health.” Adjacent space might host reflective memoirs, coaching workbooks, or contemplative philosophy—valuable in their way, but clearly labeled as non-clinical guidance. Booksellers emphasize their dual role as cultural curators and commercial actors, noting they respond to demand while striving for quality standards. How clarity could look and feel The goal is not to police ideas, but to help readers navigate with confidence. Transparent categorization respects reader autonomy while lifting the signal of credible practice. Clear tags—such as “scientific references,” “clinical overview,” or “personal narrative”—can work like map legends, turning a maze into a route. And when a book blends modes, hybrid labels can acknowledge both insight and limitation. A practical checklist for choosing wisely Check the author’s credentials: clinical license, academic affiliation, or relevant training. Scan the references: citations to peer-reviewed journals or reputable guidelines. Look for scope limits: clear statements about who the book is and isn’t for, and when to seek care. Seek methods, not miracles: approaches tested across diverse groups, with measurable outcomes. Watch the language: be wary of absolute claims, stigmatizing tones, or one-size-fits-all promises. Cross-verify with trusted bodies: national psychology associations or public-health agencies. The publisher’s responsibility Publishers can raise the bar by standardizing disclosure on methods, sample sizes, and limitations. Editorial policies could require conflict-of-interest statements, transparent citations, and plain-language summaries of evidence. Marketing should avoid medicalized framing for books that lack clinical validation, even when sales incentives press for bold claims. When a manuscript mixes reflection with research, honest jacket copy can prevent false equivalence. Coexisting without confusion Wellness writing can offer genuine comfort, perspective, and daily habits that support well-being. Scientific texts can provide structured tools, validated therapies, and realistic expectations for progress. The aim is to let these strands coexist, while giving readers the navigational cues to tell them apart. With clearer shelves, informed labels, and modest design tweaks, we can protect reader trust—and keep the aisle both inviting and intelligent.
Wyalusing man sentenced after stealing money from business
WYALUSING, Pa. (WETM) – A Wyalusing man was sentenced after being convicted of entering a business without permission and stealing money from inside. Hunter B. Oslin, 28, was sentenced to a minimum of...
Mike Conley Jr. reportedly rejoining Timberwolves after being waived by Hornets
After being traded twice and waived this week, the longtime NBA veteran is planning to return to the Timberwolves as a free agent, according to ESPN.
Public Health Workers Are Quitting Over Assignments to Guantánamo
Doctors, nurses, and other officers are increasingly being deployed to ICE detention centers. Some have resigned in protest, while others offer a rare look into bleak conditions.
A sports district mega-development opposed by the Phillies, Eagles, and Comcast Spectacor appears to be dead
Developer Hines left the project last year, and now the zoning that enabled the project is being repealed.
App issue triggers voluntary recall of some Siemens Healthineers CT systems
Siemens self-reported a problem with software being inadvertently delivered to U.S. systems when the applications have not yet been cleared for use by the FDA.
Guernsey charity aims to raise a pint and men's health awareness
Islanders are asked to buy a reusable plastic pint glass to raise awareness of male cancers and general wellbeing.
Bengals avoid being butt of jokes at NFL Honors show
One year ago, NFL Honors host Snoop Dogg roasted the Bengals' defense after shouting out quarterback Joe Burrow.
Bill could affect history and social science lessons for students across Virginia
A bill being discussed in Richmond could impact what students across Virginia learn in history and social science classrooms.
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.
Mike Tirico, set to call his first Super Bowl, is still in awe of Rams-Bears playoff game, miracle TD
“The whole moment just felt really, really vibrant to me,” Tirico said. “That was an all-time great moment. That was a play I will forever cherish being a part of.”
How well can AI and humans work together? Scientists are turning to Dungeons & Dragons to find out
D&D is being used as a benchmark to see how well models can make long-term plans, adhere to rules and strategize with a team.
Student Health Center at University of Nevada, Reno
The Student Health Center provides convenient, high-quality care — medical, mental health, nutrition, and sports medicine — for student well-being.
In forcing the Clintons to testify on Epstein, Comer sets a new precedent
The Republican chairman’s successful targeting of a former president who faces no charge of wrongdoing was the sort of tactic typical in an autocracy where leaders fear being jailed when they are out of power.
Car washes see increase in business as drivers clean off winter road salt
As snow and ice continue to melt and road conditions improve across eastern North Carolina, drivers are being encouraged to check on their vehicles — especially
Connecticut business owner admits to defrauding 2 companies of more than $2.5 million
BRIDGEPORT, Conn. (WTNH) — A former business owner who was arrested almost five years after being indicted for wire fraud admitted to defrauding two companies he was doing business with of mo…
Plans Being Developed for a New Live Music Venue In Downtown Binghamton
A city native hopes to build a new entertainment complex in downtown Binghamton.
Mobile showers traveling around DC area to help homeless with health, hygiene
A mobile trailer is hitting the DC region to offer frequent showers to the local unhoused population.The three-unit shower, one being handicap accessible is a
Whistleblower complaint centers on sharing of classified intelligence and reporting of a potential crime, watchdog says
A complaint filed last year by a US intelligence community whistleblower that is now being scrutinized by lawmakers includes claims that the distribution of a highly classified intelligence report had been “restricted for political purposes” and that an intelligence agency lawyer had failed to report a potential crime to the Justice Department, a government watchdog told lawmakers earlier this week.
Microsoft Introduces System Monitor (Sysmon) Support In Windows 11
Microsoft has begun rolling out native System Monitor (Sysmon) capabilities directly within Windows 11, marking a notable shift in how advanced system telemetry and threat detection can be deployed across Windows environments. The feature is currently being tested on select systems enrolled in the W
Louisville officially names Ivey and Ellis co-defensive coordinators
From U of L: University of Louisville football assistant coaches Mark Ivey and Steve Ellis have been named Co-Defensive Coordinators, head coach Jeff Brohm announced. Ivey and Ellis will share defensive coordinator responsibilities, with Ivey leading the defensive line and Ellis overseeing the secondary. Ivey has coached the Cardinals’ linebackers since being retained when Brohm was hired prior to the 2023 […]
Richard Keys and Andy Gray set to leave beIN Sports after current season
While there has been no fall-out between the parties, the pair's deal is not expected to be extended beyond the end of the season.
136 schools nationwide awarded grants to improve student, faculty health
DALLAS, Feb. 4, 2026 — Physical activity is vital to American students’ physical health and emotional well-being, helping them learn, concentrate and manage stress throughout the school day, yet most youth are not getting enough movement. According to...
How Universities and States Are Increasing Surveillance of Professors
Scrutiny of university classrooms is being formalized, with new laws requiring professors to post syllabuses and tip lines for students to complain.
Selected UK students invited to take 2026 Health and Wellness Kentucky Survey
Select University of Kentucky students will soon see an email inviting them to take part in the 2026 Health and Wellness Kentucky (HAWK) Student Assessment — a short, anonymous statewide survey designed to better understand student health and well-being.
Kentucky Sen. Rand Paul to question DHS leaders next week
Next week, Sen. Rand Paul, R-Ky., will question federal officials overseeing the aggressive tactics being used by immigration enforcement agents.
Measles outbreak at Texas detention center raises health concerns
DILLEY, Texas - Serious concerns have emerged about public health at the South Texas Residential Center in Dilley, where families are still being transferred de
Bryce Young and Rico Dowdle believe in the Carolina Panthers
RJ Ochoa sat down with Bryce Young and Rico Dowdle to talk about the growth of the Carolina Panthers and being wingmen for each other.
Colts star Jonathan Taylor lauds Titans ‘electric’ rookie Pro Bowler
Jonathan Taylor isolated Chimere Dike’s years-long work ethic as what’s stood out in Dike’s road to being named a Pro Bowler in 2026 as a rookie.
Fitbit founders launch AI platform to help families monitor their health
Luffu uses AI in the background to gather and organize family information, learn day-to-day patterns, and flag notable changes so families can stay aligned and address potential wellbeing issues.
The Switch 2's Virtual Boy is a tribute to Nintendo's wackiest console
For 2026, the Virtual Boy is being reborn as an add-on for the Switch 2 and it's still as weird and eccentric as ever. And I wouldn't have it any other way.
The essential first-hire checklist for small businesses
Hiring your first employee is a major milestone, and being prepared makes all the difference. In this episode of Small Business Smarts, go through the essential steps every business owner should complete before making that first hire. For more, visit ADP.com/SPARK
Victim of 'Celtic Curse' spent years blaming herself for poor health
Anne Campbell says being diagnosed with a genetic disease in her 80s came as a relief.
French office of Elon Musk's X raided by Paris prosecutors
The search is being carried out by a cybercrime unit in relation to an investigation opened in January 2025, the Paris prosecutor's office said.
Patriots Veteran Made Predictable Choice At Super Bowl Opening Night
New England Patriots wide receiver Mack Hollins didn’t wear shoes to Super Bowl Opening Night on Monday. Surprised? No, of course you aren’t! Hollins, who says that he only wears shoes when necessary and likes being barefoot because it strengthens his feet, ankles, and knees, once again let those things breathe during his media availability […]
Barbecue restaurant hoping to bounce back after winter storm
Lexington restaurant trying to move forward after being sandwiched by winter storms.
The summer I became a science journalist
Mason Wakley on being a science writer intern at the Royal Society of Chemistry
AHCCCS Director steps down citing personal health concerns
The Arizona Health Care Cost Containment System (AHCCCS) Director, Virginia “Ginny" Rountree, has resigned after just months of being appointed to her position by Gov. Katie Hobbs.
Nicki Minaj stands up for Trump against ‘bullying,’ says she ‘couldn’t handle’ how he was being treated
Nicki Minaj revealed Trump "bullying" inspired her political awakening. The rapper says witnessing attacks on the president reminded her of her own experiences.
Galaxy S27 Ultra Could Feature Samsung’s Polar ID, A More Advanced Version Of Face ID That’s As Fast As Current Solutions While Being 50% Smaller
A proper Face ID competitor is said to be developed by Samsung called Polar ID, and best on the latest information, it could debut with the Galaxy S27 Ultra
Vanderbilt Health acquires Tennova’s Clarksville hospital and related physician clinics from Community Health Systems
Leaders with Vanderbilt Health announced today completion of the acquisition of Tennova Healthcare-Clarksville Hospital and freestanding emergency room Tennova ER-Sango, along with the hospital’s related businesses, including physician clinics and outpatient services, from Community Health Systems Inc. (CHS). Vanderbilt Health has held a 20% minority interest in these operations since 2021. Under Vanderbilt Health’s ownership, the 270-bed hospital will be named Vanderbilt Clarksville Hospital (VCH) while the freestanding Sango ER will be named Vanderbilt Emergency Sango. Also joining the Vanderbilt Health system through the acquisition are physician practice locations in Clarksville, Dover, Pleasant View and Tiny Town offering, depending on location, orthopaedics, primary care, wound care, digestive health, urology and surgical services. Acquisition of the hospital and its related physician practices expands Vanderbilt Health’s ability to serve patients across the region, supporting its ability to provide high-quality care in more convenient, community settings that are also more cost-effective. “We are thrilled to welcome Vanderbilt Clarksville Hospital into our health system. Providing exceptional care close to home is invaluable, and we are eager to serve the citizens of Clarksville and Montgomery County by expanding the hospital’s programs and services,” said Jeff Balser, MD, PhD, President and CEO of Vanderbilt Health and Dean of Vanderbilt University School of Medicine. This acquisition marks Vanderbilt Health’s fourth regional hospital expansion, further strengthening its presence across Middle Tennessee beyond its already extensive inpatient and ambulatory services in Nashville. VCH joins Vanderbilt Health’s network of regional medical centers that now include Vanderbilt Wilson County Hospital in Lebanon, Vanderbilt Tullahoma-Harton Hospital in Coffee County, and Vanderbilt Bedford Hospital in Shelbyville. With a strong record of growth and investment in people, programs and services for its regional hospitals, residents of Clarksville, Montgomery County and the surrounding region can expect that Vanderbilt Health will bring a host of adult and pediatric services to the area. Initial plans for VCH over the upcoming year include increased staffing for the hospital’s emergency services, including the addition of pediatric emergency medicine specialists with Monroe Carell Jr. Children’s Hospital at Vanderbilt, along with increased surgical specialty offerings. Longer term, physicians and staff will be recruited to bring a broader array of adult and pediatric specialty services to the community. “I am delighted to welcome the physicians, nurses and staff of Vanderbilt Clarksville Hospital into the Vanderbilt Health family and look forward to working closely with the hospital’s medical staff and members of the local health care community to ensure we excel at meeting their needs as caregivers as we pursue the goal of improving the health and wellbeing of the patients we serve,” said Jane Freedman, MD, Deputy Chief Executive Officer and Chief Health System Officer for Vanderbilt Health. Currently, VCH employs approximately 1,100 staff and more than 30 physicians. Through this acquisition Vanderbilt Health has committed to hire substantially all current employees who are in good standing. Services already established by Vanderbilt Health at VCH include an OB-GYN hospitalist program, an array of oncology services provided by a multidisciplinary team with Vanderbilt-Ingram Cancer Center, and neonatal care in the hospital’s Level II Neonatal Intensive Care Unit provided by specialists with Monroe Carell. VCH has been designated as an Accredited Chest Pain Center and a Wound Care Center of Distinction and has earned the Gold Seal of Approval from The Joint Commission. More information about Vanderbilt Clarksville Hospital is available at: vanderbilthealth.com/hospital/vanderbilt-clarksville-hospital
One of Earth’s most abundant lifeforms has a fatal flaw
SAR11 bacteria dominate the world’s oceans by being incredibly efficient, shedding genes to survive in nutrient-poor waters. But that extreme streamlining appears to backfire when conditions change. Under stress, many cells keep copying their DNA without dividing, creating abnormal cells that grow large and die. This vulnerability may explain why SAR11 populations drop during phytoplankton blooms and could become more important as oceans grow less stable.
We’re All Being Played By Metrics
A new book explores what we lose when we’re always keeping score—at work, in life, even within ourselves. Can games help set us free?
See photos of music's biggest stars at the Grammy Awards
LOS ANGELES (AP) — Music royalty has gathered for the 68th annual Grammy Awards, which are being presented Sunday in Los Angeles.
See photos of music's biggest stars arriving for the Grammy Awards
LOS ANGELES (AP) — Stars are arriving for the 68th annual Grammy Awards, which are being presented Sunday in Los Angeles. Kendrick Lamar is the night's leading nominee. Justin Bieber,
See photos of music's biggest stars arriving for the Grammy Awards
LOS ANGELES (AP) — Stars are arriving for the 68th annual Grammy Awards, which are being presented Sunday in Los Angeles. Kendrick Lamar is the night's leading nominee. Justin Bieber,
Meet the Class of 2025 Arizona Sports Hall of Fame
Seven standout athletes and leaders are being honored for shaping Arizona’s sports legacy across generations. Meet the Class of 2025 Arizona Sports Hall of Fame
Several Upstate VA Health Care System Operations to close due to travel conditions
According to officials, facility operations are being adjusted to ensure the wellbeing and safety of patients and staff.
Health care costs are cannibalizing the economy — consumers can fight back
American health care costs are cannibalizing the economy, with 2024 national health expenditures reaching $5.3 trillion, double the developed-world average, and hidden prices being the main reason …
The Science of “the Giggle”: Why Laboratory Rats Love Being Tickled
If you think laughter and comedy are reserved strictly for humans, you’d be wrong. A study in the late 1990s showed that creatures like rats emit ultrasonic vocalizations while playing with or anticipating the opportunity to play with other rats. To make matters sillier, rats emitted similar vocalizations when they were subjected to manual somatosensory
Video Weekend health news roundup
Is the brutal cold making flu numbers worse? Plus, life expectancy at an all-time high and what doctors say about being a “night owl.”
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.
A mystery vending machine appeared at Pentagon. Then it vanished.
A mystery vending machine at the Pentagon appeared selling collectibles before being removed for review.
'We have weaknesses': How covering sports is like raising kid athletes
Top athletes, like our kids, are more human being than prodigy. Sometimes parents, and their kids who play sports, just need to calm down.
Night owl or early bird: Chronotype can influence your health and muscle strength
Being more active in the morning or afternoon is not just a matter of personal preference. Chronotype, which is each person's biological tendency to function better at certain times of the day, can play ...
Study: Being a night owl could be bad for your health
The World’s Largest Biological Battle Is Being Fought in Space
But this evolutionary “arms race” looks a little different when playing out in microgravity.
All of the Feelings: Emotional Diversity Linked to Health
A growing body of research demonstrates that feeling a wide range of positive emotions in a single day is linked to health and well-being.
Dispatch censored on Switch and Switch 2
AdHoc Studio says despite censorship being toggled on by default, "the core narrative and gameplay remains identical to the original release"
Medium says employees can join Friday's strike against ICE
The company's CEO wrote to employees that "sometimes it feels awkward to navigate being both on-mission and on-money."
More than 80 Maine businesses will be closed Friday as part of ICE protest
Dozens of Portland area businesses have signed on to close for the day as part of what's being called a service industry strike, which is happening nationwide.
M12's Cheng: Health Care One of The Fastest AI Adopters
Cheryl Cheng, managing partner at M12, Microsoft’s venture fund, says health care has shifted from being slow to adopt technology to becoming one of the fastest adopters of AI. She speaks with Romaine Bostick and Katie Greifeld on “The Close.” (Source: Bloomberg)
AARP Examines the Importance of State Health Insurance Assistance Programs
Last month, the AARP Public Policy Institute released a report on the State Health Insurance Assistance Programs (SHIPs), outlining the critical role these Medicare counselors have in improving beneficiary health and well-being. SHIPs provide objective, free, one-on-one assistance to Medicare beneficiaries, their families, and caregivers. With locations in every state, over 2,000 offices in communities […]
Mavericks put their hope in health as the 1-year anniversary of the Luka Doncic trade approaches
Anthony Davis and Kyrie Irving didn't play in that 118-105 loss to Minnesota — and might not be in a Mavericks uniform on the same night again — while it was a temporary injury absence for four-time NBA champion Klay Thompson and Cooper Flagg, the rookie No. 1 pick who landed in Dallas by crazy luck and is seen as the next face of the franchise after Doncic. Days shy of a year since the Mavs shipped their global superstar to the Los Angeles Lakers for Davis and rocked the core of a team that was just nine months removed from playing in the NBA Finals, Washington's hope for a return to contention rests with those four teammates being healthy alongside him.
Sen. Cruz against college athletes as 'employees'
Sen. Ted Cruz told ESPN it's critical that any federal law related to college sports includes a provision that prevents athletes from being deemed school employees.
Nearly 2,000 Products Recalled in 3 States After Being Exposed to Rodent Waste—FDA Issues Risk Warning
Diet Coke, Hershey's, and Tylenol are among the many popular products under recall. They were held in a facility with rodent and bird waste.
Small Business Promotion Week: WashSmart Laundry
You won’t find any coins at this laundromat. WashSmart Laundry in North Arlington prides themselves not only on being coinless, but they also offer the latest high-powered, energy-efficient washers and dryers that not only clean faster but leave clothes “feeling softer.”
Opinion: Colorado’s plan to cut sexual health education funding would erase real gains for rural students
The statewide program is a key element in Colorado’s commitment to support the mental health and well-being of our young people.
Are men being misled over testosterone?
In part one of a miniseries exploring the popularity of testosterone, Madeleine Finlay hears from Professor Channa Jayasena of Imperial College London, who is chair of the Society for Endocrinology, about how this craze is manifesting in NHS clinics, and from ‘Sam’ who tells Madeleine about his own journey with the hormone
Android Gets Enhanced Set of Theft Protection Feature Updates
Android is getting a host of new theft protection updates from Google, designed for users on Android 16+. The updates are being built onto existing features, “designed to give you... #Android #Google
Martens are focus of Yampatika community science program
Pacific martens are the focus of a community science program being offered by the local nonprofit Yampatika. “Caught on Camera: Using Trail Cams for Science” will teach attendees about the elusive Pacific marten, a small,...
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
Browns defensive coordinator Jim Schwartz reportedly wants 'out' after being passed over for head coaching job
Dispatch is censored on Nintendo Switch 2 and Switch
Although there was initially speculation about Dispatch being censored on Nintendo Switch 2 and Switch, it’s now confirmed that this is indeed the case. In the PC and PS5 versions, the game featured a “Visual Censorship” setting. This is gone on Nintendo Switch 2 and Switch, so you’re always getting the censored experience. All scenes are in tact, but there...
Why being a night owl may be worse for your heart
Bad news, night owls: Staying up late can be bad for your heart. But there's good news, too.
National Institutes of Health Need Agencywide Strategy to Prioritize and Fund Pediatric Research, Says New Report
Childhood health is foundational to lifelong well-being. A new National Academies report makes recommendations on how NIH and Congress can best support pediatric health research and improve health outcomes through childhood and beyond.
Frederick zoning amendment could change rules for home businesses
Frederick business owners who operate out of their homes could have new rules under a zoning amendment being considered by the city's Planning Commission.
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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