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Super Bowl LX pick: Seahawks will prevail over the Patriots

Sam Farmer makes his pick and prediction for Super Bowl LX, picking the Seattle Seahawks to prevail against the New England Patriots.

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Feb 8 • 6:00 AM EST • Sports • latimes.com
Inside The Inn at Little Washington’s geese parade

Three evenings a week, the farm manager at The Inn at Little Washington, known as “Farmer Andy,” leads a small procession in the alley along Patty O’s Cafe. A line of well-trained American Buff Geese march to the tune of Thewlis’ soprano saxophone.

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Feb 7 • 7:55 PM EST • Entertainment • rappnews.com
Ancient bones reveal chilling victory rituals after Europe’s earliest wars

New evidence from Neolithic mass graves in northeastern France suggests that some of Europe’s earliest violent encounters were not random acts of brutality, but carefully staged displays of power. By analyzing chemical clues locked in ancient bones and teeth, researchers found that many victims were outsiders who suffered extreme, ritualized violence after conflict. Severed arms appear to have been taken from local enemies killed in battle, while captives from farther away were executed in a grim form of public spectacle.

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Feb 7 • 7:00 PM EST • Science • sciencedaily.com
Matthew Hofer Joins State Street Ballet Board of Directors

Matthew Hofer Matthew Hofer, a shareholder in Brownstein Hyatt Farber Schreck’s Natural Resources Department, has joined the Board of Directors of State

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Feb 7 • 12:00 PM EST • Entertainment • noozhawk.com
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‘Mewgenics’ Lands The Best Metacritic Score Of 2026, So Far

Mewgenics is the best-scored game of 2026 on Metacritic, and even if it's early, that seems like it will stick for quite a while.

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Feb 7 • 9:03 AM EST • Technology • forbes.com
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.

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Feb 6 • 4:35 PM EST • Business • usatoday.com
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Business Lookahead: Near, far, wherever markets are

STORY: From Japan's snap election to key U.S. data, these are the stories to watch in business and finance in the coming week. :: Japan votesJapan's Prime Minister Sanae Takaichi is hoping for a stronger mandate as voters head to the polls on Sunday.The closely-watched lower house election is shaping up to be one of the most unpredictable in years.A strong showing by Takaichi's Liberal Democratic Party would allow her to expand stimulus.That could heighten concerns about Japan's finances and push up government bond yields further in a selloff that could ripple out overseas.:: AI winners and losersCisco Systems and Germany's Siemens Energy report earnings on Wednesday.They've benefited from the AI boom in different ways, but now Barclays says that trade is "seeing extreme dispersion."That’s been evident in sliding software and data analytics stocks, which have plunged as traders focus on the existential threat posed by increasingly powerful AI models.AI enablers, companies contributing to the global AI data center build-out, meanwhile, have fared better. :: Delayed data dumpA double dose of major U.S. economic reports should give investors a critical view of the economy, following a delay by the recently ended three-day government shutdown.The January non-farm payrolls report, now due on Wednesday, is expected to show an increase of 70,000 jobs, according to a Reuters poll. Then, on Friday, the Bureau of Labor Statistics is set to release the January consumer price index, one of the most closely watched measures of inflation.

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Feb 6 • 3:15 PM EST • Business • finance.yahoo.com
Support your heart health this February

When was the last time you thought about your heart health? It’s far more important than you may realize. Heart disease is the No. 1 overall cause of death for…

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Feb 6 • 11:34 AM EST • Health • douglas.co.us
DOJ Over-Seized Hannah Natanson's Garmin Device and Other Reporting Materials

DOJ claims it is adhering to the Privacy Protection Act, even though they didn't mention it in the affidavit to search Hannah Natanson's devices. But their search seized far more reporting materials than covered by the probable cause tied to Aurelio Perez-Lugones.

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Feb 6 • 7:50 AM EST • Technology • emptywheel.net
Mewgenics

Though we're still making our way through this massive game, Mewgenics has been worth the wait so far.

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Feb 6 • 7:00 AM EST • Technology • gameinformer.com
‘It’s for the next generation:’ How history-making Olympic hockey star Laila Edwards is embracing trailblazer status

For Laila Edwards, this year’s Winter Olympics is about far more than sport, and that’s something she’s getting comfortable with.

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Feb 6 • 4:00 AM EST • Sports • cnn.com
Leylah Fernandez issues emotional message celebrating National Girls and Women in Sports Day

Leylah Fernandez has been extremely busy in 2026 so far as she looks to add more success on the court. Fernandez is a five-time champion on the WTA Tour, and once climbed as high as 13th in the world rankings.

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Feb 5 • 6:30 PM EST • Sports • hitc.com
Analysts grade 3-team trade involving Suns

After acquiring Cole Anthony from the Bucks in a three-team trade, analysts around the NBA give their thoughts on how the Suns fared in the trade.

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Feb 5 • 4:30 PM EST • Sports • arizonasports.com
Farmington mayor resigns after City Council meeting flap, citing mental health
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Feb 5 • 3:36 PM EST • Health • cbsnews.com
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Inaugural ASU–Science Prize winners use AI to help farmers, trafficking victims

From continent-spanning satellite imagery to distributed criminal networks hiding online, some of our most intractable challenges are buried within mountains of data. Two researchers are using artificial intelligence to make sense of such complexity and turn overwhelming datasets into practical solutions.

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Feb 5 • 2:30 PM EST • Science • news.asu.edu
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The AirDrop-to-Android expansion is finally happening: Here is what to expect

Google confirms Quick Share with AirDrop support is coming to more devices.

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Feb 5 • 1:45 PM EST • Technology • androidcentral.com
Listen: What happens when mentally ill Californians refuse to be treated?

One of Gov. Newsom's signature mental health programs was meant to bring treatment to people who refused it. So far, it's helping fewer Californians than many hoped.

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Feb 5 • 8:29 AM EST • Health • calmatters.org
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Inaugural ASU–Science prize recognizes research that serves farmers from the ground up | American Association for the Advancement of Science (AAAS)

Meha Jain uses satellite imagery and machine learning to help smallholder farmers increase their food production sustainably.

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Feb 5 • 7:00 AM EST • Science • aaas.org
Classic rock band reveals ‘last farewell’ tour dates, new music

Concerts include two Upstate New York stops.

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Feb 5 • 6:29 AM EST • Entertainment • syracuse.com
Ward and Smith Attorneys to Speak at ASAP’s 2026 Business of Farming Conference | Ward and Smith, P.A.

Farmers face a wide range of legal questions as they start, grow, and transition their operations. On February 28, attendees at the ASAP Business of Farming Con

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Feb 5 • 3:30 AM EST • Business • wardandsmith.com
US man shares clever AirTag trick that Apple never explains when you buy it

US tech creator reveals a simple AirTag setup trick Apple doesn’t explain, plus a small habit that makes trackers far more useful day to day

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Feb 5 • 1:47 AM EST • Technology • supercarblondie.com
Dissecting Illinois’ complete performance in total drubbing of Northwestern

CHAMPAIGN, Ill. — Illinois dominated Northwestern at the State Farm Center in round two of what should always be a closely contested “rivalry” game. Wednesday night was a forgettable chapter in that sense, because Illinois put together its most complete performance in conference play. And it’s the largest margin of victory in conference play this […]

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Feb 5 • 12:31 AM EST • Sports • thechampaignroom.com
Love is in the air: Fly business class to Europe for Valentine's Day from $2,500 round-trip

La Compagnie has a Valentine's Day special with business-class fares to Paris, Milan and Nice, France, available from $2,500 round-trip.

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Feb 4 • 2:30 PM EST • Business • thepointsguy.com
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‘Are you still involved in your community?’: Open or closed, here’s how Portland businesses fared during the nationwide strike

Those who couldn’t close for the day found alternative ways to pitch in, from selling out taco trucks to donating sales.

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Feb 4 • 1:15 PM EST • Business • oregonlive.com
You can pre-order the Pixel 10a on February 18

Apart from leaks, that's about all we know so far.

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Feb 4 • 1:07 PM EST • Technology • engadget.com
Artemis II is returning humans to the moon with science riding shotgun

NASA’s Artemis II could be the first time human eyes set sight on the farside of the moon — and there are things human eyes can see that cameras can’t.

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Feb 4 • 9:00 AM EST • Science • sciencenews.org
Top 25 And 1: UConn's NCAA Tournament seeding could be hurt by weak Big East schedule

The Huskies are 22-1 but only have five wins vs. Quadrant 1 opponents so far this season

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Feb 4 • 5:43 AM EST • Sports • cbssports.com
Junior scientists face a quandary when starting their own labs: How far to stray from the hive

A new study argues that overlap between advisers and advisees on research topics helps rather than hinders young life scientists.

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Feb 4 • 4:30 AM EST • Science • statnews.com
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Flirty Emails and Chummy Photos Show How Far Epstein Reached Into Business World

Los Angeles scion Casey Wasserman, celebrity doctor Peter Attia and film director Brett Ratner are facing scrutiny over new Epstein files.

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Feb 3 • 9:00 PM EST • Business • wsj.com
Steelers QB Mason Rudolph sends heartfelt farewell to Mike Tomlin

Pittsburgh Steelers quarterback Mason Rudolph took to social media and thanked his former head coach, Mike Tomlin, in an emotional farewell.

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Feb 3 • 3:09 PM EST • Sports • steelerswire.usatoday.com
Apple hosts Apple TV media event, here’s everything that’s been announced

Apple is hosting a special media event today called the ‘2026 Apple TV Press Day.’ Here’s everything that’s been announced at the event so far.

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Feb 3 • 3:01 PM EST • Technology • 9to5mac.com
Former Farming Leaders Warn U.S. Agriculture Could Face ‘Widespread Collapse’

A group of past government officials and the former heads of farming associations issued a dire warning to members of Congress.

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Feb 3 • 11:16 AM EST • Politics • nytimes.com
Inside Nutrien’s Business Mandate: Commit To the Customer, Deliver Efficiency

Eight years after the merger of Agrium and Potash Corp. to form Nutrien, the company deploys an updated strategy unifying wholesale and retail operations.

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Feb 3 • 10:07 AM EST • Business • thedailyscoop.com
Pro-ag or pro-development? Conservationist Travis Thompson asks Florida leaders to support Florida Farm Bill

'Remember this, the final crop will be houses if we don’t protect agriculture.'

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Feb 3 • 9:23 AM EST • Politics • floridapolitics.com
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Sports Daily: KU picks up biggest road win of season so far

KU completes the second-half comeback for their biggest road win of the season. What does it mean big picture?

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Feb 3 • 7:50 AM EST • Sports • kwch.com
MAHA’s money man has built a political machine. Will it matter for midterms?

A sixth-generation farmer running for Iowa governor, Zach Lahn is the first MAHA-endorsed candidate of the 2026 election cycle.

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Feb 3 • 6:00 AM EST • Politics • cnn.com
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Decision over 35 Castle Donington business units pushed back

Councillors have deferred whether to approve 35 new commercial units at Hill Top Farm in Castle Donington.

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Feb 3 • 3:39 AM EST • Business • bbc.com
Orsted sells European onshore business to CIP for $1.7 billion

Danish wind farm operator Orsted said on Tuesday it has agreed to sell its European onshore business to Copenhagen Infrastructure Partners (CIP) for 1.44 billion euros ($1.70 billion).

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Feb 3 • 2:08 AM EST • Business • reuters.com
Offseason open thread: February 2

Busy day, huh? The week’s off to an exciting start so far, what with the news about the future of the Braves on TV/streaming, the Braves having their annual Truck Day and our minor league crew getting their preseason prospect rankings underway. Which one was the most exciting part for you so far? The floor […]

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Feb 2 • 7:09 PM EST • Sports • sports.yahoo.com
New catalyst turns carbon dioxide into clean fuel source

Researchers have found that manganese, an abundant and inexpensive metal, can be used to efficiently convert carbon dioxide into formate, a potential hydrogen source for fuel cells. The key was a clever redesign that made the catalyst last far longer than similar low-cost materials. Surprisingly, the improved manganese catalyst even beat many expensive precious-metal options. The discovery could help turn greenhouse gas into clean energy ingredients.

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Feb 2 • 7:00 PM EST • Science • sciencedaily.com
Packers Discussion: Keep, cut or trade Nate Hobbs in 2026?

The path to a Nate Hobbs trade isn’t as far-out as you might think.

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Feb 2 • 3:28 PM EST • Sports • acmepackingcompany.com
Meet some of the winners of this year’s South Portland business awards

Winners include local restaurants, a farm and a coffee shop.

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Feb 2 • 3:04 PM EST • Business • pressherald.com
Microsoft Stock (NASDAQ:MSFT) Falters on Hibernation Fix Flop, Unexpected Xbox Permaban

Tech giant Microsoft ($MSFT) has not been having a great Monday so far. Reports of a hibernation bug previously thought fixed have emerged to say that the fix did n...

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Feb 2 • 1:32 PM EST • Technology • tipranks.com
'We've Got Much More in Store': Legendary DOOM Developer id Software Celebrates 35th Anniversary

Far from DOOMed

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Feb 2 • 11:00 AM EST • Technology • pushsquare.com
Linden Entertainment Taps Jenna Jackson as Brand Ventures Executive (Exclusive)

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

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Feb 2 • 11:00 AM EST • Entertainment • hollywoodreporter.com
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Bowdoin Hosts Girls & Women in Sports Day on Sunday, February 1

BRUNSWICK, Maine - Continuing a beloved annual tradition, Bowdoin women's teams welcomed more than 150 local girls to Farley Field House on Sunday, February 1, for Girls and Women in Sports Day, featuring 17 hands-on sports stations. Thanks to all of the participants and athletes.

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Feb 2 • 9:46 AM EST • Sports • athletics.bowdoin.edu
Scientists are hunting for a forbidden antimatter transformation

MACE is a next-generation experiment designed to catch muonium transforming into its antimatter twin, a process that would rewrite the rules of particle physics. The last search for this effect ended more than two decades ago, and MACE plans to leap far beyond it using cutting-edge beams, targets, and detectors. A discovery would point to entirely new forces or particles operating at extreme energy scales.

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Feb 2 • 7:00 AM EST • Science • sciencedaily.com
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How Omnicom’s new business is faring post-merger

Smirnoff has launched a global creative review after working with McCann since 2022.

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Feb 2 • 5:00 AM EST • Business • adage.com
5 Free Agent Safety Options the Vikings Could Target

In Week 18, the Minnesota Vikings hosted what felt like a farewell party for Harrison Smith, who wrapped up Year […]

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Feb 1 • 7:30 PM EST • Sports • vikingsterritory.com
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Florida’s silent storm: Inside new science exposing how humidity can escalate a heat wave

A UF team has developed a measure of heat waves that considers how long the heat lasts and how far it spreads.

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Feb 1 • 8:00 AM EST • Science • theinvadingsea.com
750-year-old Indian poems reveal a landscape scientists got wrong

Old Indian poems and folk songs are revealing a surprising truth about the land. Scientists found that descriptions of thorny trees and open grasslands in texts written as far back as the 1200s closely match today’s savannas in western India. This suggests these landscapes are ancient and natural—not ruined forests. The discovery could reshape how conservation and tree-planting efforts are planned.

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Feb 1 • 7:00 AM EST • Science • sciencedaily.com
“Existential risk” – Why scientists are racing to define consciousness

Scientists warn that rapid advances in AI and neurotechnology are outpacing our understanding of consciousness, creating serious ethical risks. New research argues that developing scientific tests for awareness could transform medicine, animal welfare, law, and AI development. But identifying consciousness in machines, brain organoids, or patients could also force society to rethink responsibility, rights, and moral boundaries. The question of what it means to be conscious has never been more urgent—or more unsettling.

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Feb 1 • 7:00 AM EST • Science • sciencedaily.com
Can Pakistan Contain the Violent Politics of Blasphemy?

The government’s ban on Tehreek-e-Labbaik reduced blasphemy violence but will take work to maintain.

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Feb 1 • 4:00 AM EST • Politics • lawfaremedia.org
Rose six clear as he chases 13th PGA Tour win

England's Justin Rose is in a strong position to secure a 13th PGA Tour win after extending his lead to six shots at the Farmers Insurance Open on Saturday.

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Feb 1 • 2:48 AM EST • Sports • bbc.com
Farmers tell BBC Politics East why they are protesting again

Farmers want better support to deal with rising production costs and cheaper imports.

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Feb 1 • 1:14 AM EST • Politics • bbc.com
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Xbox Game Pass: All Games Coming Soon In February 2026

All the confirmed reveals so far

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Jan 31 • 9:30 AM EST • Technology • purexbox.com
Ancient tools in China are forcing scientists to rethink early humans

Archaeologists in central China have uncovered evidence that early humans were far more inventive than long assumed. Excavations at the Xigou site reveal advanced stone tools, including the earliest known examples of tools fitted with handles in East Asia, dating back as far as 160,000 years. These discoveries show that ancient populations in the region carefully planned, crafted, and adapted their tools to meet changing environments.

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Jan 31 • 7:00 AM EST • Science • sciencedaily.com
The top five transfer additions for the Buffs (so far)

The Buffs have remained aggressive in the portal, so here’s a top five you need to know right now. We’ll count down from No. 5 to No. 1 and hit why each addition fits, and how they raise the floor this fall. #5 Liona Lefau, Texas Lefau is a senior transfer from Texas who comes […]

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Jan 31 • 12:51 AM EST • Sports • ralphiereport.com
The video games industry is killing itself and no one seems to care

After a week of bad news for games companies, a reader worries that Western publishers are too far gone for any kind of recovery to be possible.

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Jan 30 • 8:00 PM EST • Technology • metro.co.uk
Former Steelers Wide Receiver Eyeing NFL Comeback In 2026

The Pittsburgh Steelers have had their hands full so far this offseason when it comes to sorting through their coaching mayhem. After Mike Tomlin’s stunning resignation, the team moved quickly to hire former Green Bay Packers and Dallas Cowboys head coach Mike McCarthy as his replacement. Since then, McCarthy has begun building out his coaching […]

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Jan 30 • 6:41 PM EST • Sports • sports.yahoo.com
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Central Nebraska to host Ag Health and Safety Day Feb. 3

An agricultural health and safety event will take place Feb. 3 at the Dayspring Bank Event Center in Gothenburg, offering farmers and ranchers a comprehensive look at industry safety beyond traditional approaches.

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Jan 30 • 5:40 PM EST • Health • 1011now.com
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Another government shutdown looms -- what you need to know : The NPR Politics Podcast

After immigration officials killed two people in Minneapolis this month, congressional Democrats demanded funding for immigration action be separated from other government funding. That's leading to a potential, partial, government shutdown. We unpack the latest from Capitol Hill.Then, why did the FBI raid Fulton County, Ga.'s election center this week, and what does it have to do with President Trump's continued false claims that the 2020 presidential election was stolen?And, we bid a fond farewell to one of our podcast stalwarts.This episode: senior White House correspondent Tamara Keith, congressional reporter Sam Gringlas, immigration policy correspondent Ximena Bustillo, political reporter Stephen Fowler, senior political editor & correspondent Domenico Montanaro, and political correspondent Sarah McCammon.This podcast was produced and edited by Casey Morell & Bria Suggs.Our executive producer is Muthoni Muturi.Listen to every episode of the NPR Politics Podcast sponsor-free, unlock access to bonus episodes with more from the NPR Politics team, and support public media when you sign up for The NPR Politics Podcast+ at plus.npr.org/politics.

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Jan 30 • 4:16 PM EST • Politics • npr.org
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DOD ordered to study mental health impacts among military drone pilots

Studies suggest remote warfare requires a level of intimacy with a prospective strike target that conventional air warfare may not.

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Jan 30 • 12:09 PM EST • Health • militarytimes.com
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Review | The best movies of 2026 so far, according to critics

“Arco,” “The Testament of Ann Lee” and “No Other Choice” make our evolving list of 2026’s best films.

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Jan 30 • 10:31 AM EST • Entertainment • washingtonpost.com
Barry Manilow’s Upstate NY farewell shows are on sale now: Where to buy tickets

The farewell tour kicks off Feb. 27 and includes stops in Albany and Buffalo.

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Jan 30 • 10:19 AM EST • Entertainment • syracuse.com
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Here’s how Baton Rouge’s casinos fared in December

After two strong months in October and November, Baton Rouge’s casinos continued their upward trajectory in December. Collectively, the casinos posted $25.7 million in revenue for December, u… Already an INSIDER? Sign in. Already an INSIDER? Sign in

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Jan 30 • 7:10 AM EST • Business • businessreport.com
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Flu cases are down in NYC, but health officials say flu season is far from over

More than 2,200 new flu cases were reported last week, with kids making up over half of cases.

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Jan 30 • 6:31 AM EST • Health • gothamist.com
Illinois overscomes clunky start, extends winning streak to 10

CHAMPAIGN — Illinois freshman sensation Keaton Wagler was welcomed with an especially loud cheer from the State Farm Center crowd as he was introduced on Thursday night. And for a microscopic moment, it appeared history could continue to follow him as he was the only Illini to score points through the first six-plus minutes of […]

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Jan 29 • 11:17 PM EST • Sports • thechampaignroom.com
Super Bowl LX Betting Report: 'The Public Isn’t Buying the Patriots'

It's still early, but so far, the public is throwing its support behind the Seahawks in droves. Patrick Everson has the report.

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Jan 29 • 7:46 PM EST • Sports • foxsports.com
Stephanie Grace: Washington Mardi Gras attempts to bypass politics. It only somewhat succeeds.

If there’s a key word to the annual Washington Mardi Gras, it’s camaraderie. Yet as columnist Stephanie Grace reports from the nation’s capital, politics are never far from the surface.

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Jan 29 • 7:00 PM EST • Politics • nola.com
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Minnesota farm communities say ICE surge "is going to be very damaging" for business this year
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Jan 29 • 5:56 PM EST • Business • cbsnews.com
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Live Seahawks vs. Patriots Q&A with SB Nation’s Doug Farrar

SB Nation’s Doug Farrar is doing a live Super Bowl LX Q&A with Field Gulls readers this Friday. Add your questions in the comments!

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Jan 29 • 1:00 PM EST • Sports • fieldgulls.com
Here's Everything Apple Released This Week

Following a quiet start to 2026, the final week of January has been a busy one for Apple so far. There are new versions of the AirTag and the Black Unity band for the Apple Watch, and the Apple Creator Studio bundle is now available. Apple also released iOS 26.2.1 and watchOS 26.2.1 updates, and iOS 26.3 beta testing continues.

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Jan 29 • 11:40 AM EST • Technology • macrumors.com
Department Launches Outreach Campaign to Promote Stream Protection, Herd Health

Department Launches Outreach Campaign to Promote Stream Protection, Herd Health Up to 87.5% Cost-Share Available for Most Practices ANNAPOLIS, MD (January 29, 2025) – The Maryland Department of Agriculture has launched a new public awareness campaign to educate farmers about the environmental and animal health benefits of fencing livestock out of streams and providing them with Read the Rest…

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Jan 29 • 9:18 AM EST • Health • news.maryland.gov
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Commentary: Farewell to Peter Duesberg, a godfather of scientific disinformation

Peter Duesberg squandered his scientific reputation by advancing a debunked theory about AIDS, but his influence on anti-vaccine activists lives on.

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Jan 29 • 6:00 AM EST • Science • latimes.com
Throwback Thursday: Notre Dame Fighting Irish Football VS Michigan, 1992

This week’s Throwback Thursday takes us back to one of the most emotionally charged games ever played inside Notre Dame Stadium — the 1992 showdown between Notre Dame and Michigan. I chose this game in honor of Reggie Brooks, whose birthday we just celebrated on January 19th. Reggie’s legacy at Notre Dame extends far beyond […]

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Jan 29 • 1:51 AM EST • Sports • onefootdown.com
Madina Ismail joins Essentia Health-Fargo to provide hospitalist care

Essentia Health-Fargo is proud to welcome Madina Ismail, an advanced practice registered nurse and certified nurse practitioner who will provide hospitalist care.

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Jan 28 • 4:01 PM EST • Health • essentiahealth.org
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These two viruses may become the next public health threats, scientists say

Two emerging pathogens with animal origins—influenza D virus and canine coronavirus—have so far been quietly flying under the radar, but researchers warn conditions are ripe for the viruses to spread ...

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Jan 28 • 4:00 PM EST • Health • medicalxpress.com
Investment and Statecraft: The International Politics of Sovereign Wealth Funds - Georgetown Journal of International Affairs

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

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