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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.
Should Rams target enemy free agent from Super Bowl?
Would Riq Woolen fix Rams secondary issues as a free agent?
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.
Best potential buyout candidates for Celtics after trade deadline
Which players could the Celtics pursue on the NBA's buyout market? Here are five interesting options.
Bessent defends tariffs on Capitol Hill as SCOTUS decision looms
It’s unclear when the Supreme Court may issue its decision, but the nine justices don't return to the bench until Feb. 20 from winter recess
WATCH: Bessent tells Senate panel it would be president's choice of whether to sue fed chair over interest rates
New recall includes nearly 23K bottles of triglycerides drug used to treat heart disease
New Jersey-based Zydus Pharmaceuticals has recalled nearly 23,000 bottles of its icosapent ethyl capsules due to leakage issues that may have weakened their effectiveness.
Measles outbreak in Mexico prompts health alert in World Cup host Jalisco
ZAPOPAN, Mexico (AP) — The Mexican state of Jalisco on Thursday issued a health alert and mandated the use of face masks in schools as a measles outbreak hit the state capital, a key host city for the…
Measles outbreak in Mexico prompts health alert in World Cup host Jalisco
The Mexican state of Jalisco has issued a health alert and mandated face masks in schools due to a measles outbreak in the state capital
Potential Impacts of Trump Administration H-1B Visa Policies on the Health Care and Social Assistance Industries
This issue brief provides an overview of the H-1B visa program, analyzes trends in H-1B visa approvals for the health care and social assistance industries using data from the U.S. Citizenship and Immigration Services, and discusses potential implications of recent policies impacting the H-1B program on the U.S. health care workforce.
Google Home struggles with buttons as IKEA confirms Matter connectivity issues
IKEA’s smart home tech gets a lot of the basics – including price – right, but Matter connectivity issues are...
Democrats issue 10 demands for DHS reform
The list includes a use-of-force policy for immigration agents and a standardization of uniforms
International science cooperation must go on, say research leaders
Science leaders in Europe and Canada say international cooperation must go on amid geopolitical turmoil. At the same time, Europe and like-minded countries should continue to enhance and diversify international partnerships, a Science|Business conference hears. Hugh Brady, president of Imperial College London, told delegates that Europe’s response to the current geopolitical climate should be to “diversify in terms of research partnerships and build resilience and scale into our own system.”A first priority should be for the EU to sort out the scope of the upcoming European Competitiveness Fund and ensure that, together with the next iteration of Horizon Europe, it can drive the development and scale up of new technologies. The EU and the countries associated to the Horizon Europe programme represent “the world's most successful research innovation ecosystem,” Brady said. In order to mitigate the negative effects of shifting geopolitics, the EU together with the UK, Switzerland, Canada, South Korea and others should talk about “building resilience” and address their own “regional needs,” he added. Responding to TrumpUnder Donald Trump’s leadership, the US government has slashed science budgets and shut down international research programmes. Nearly 8,000 grants at the National Institutes of Health and the National Science Foundation have been frozen or terminated. Courts have overturned most of these cancellations, but the disruption caused remains significant. While Europe may persuade a few thousand disgruntled scientists to move across the ocean to work on topics that have been de-funded in the US, it’s unclear what should happen next with transatlantic scientific cooperation more broadly.“Now is the time for us to show [US researchers] our support as much as we can,” Brady said.The European Research Council (ERC), the EU’s basic science funder, has seen a surge in applicants from the US. According its latest data, US-based researchers submitted 347 proposals to the last three big funding rounds, up from 158 in the previous set of calls. The European Commission has also launched a €22.5 million pilot call in 2025 for the Marie Skłodowska Curie Actions, the EU’s researcher training scheme. It plans to extend this support with a €51.25 million call in 2027 as part of the Choose Europe initiative, which is intended to make the continent a more attractive place to pursue a career in research. Related articlesData corner: US researchers are choosing EuropeEU-India deal highlights growing alignment on technology policyMeanwhile, in the private non-profit sector, the Volkswagen Foundation is experimenting with a new type of grant that would allow US researchers to split their time between the US and Germany. While these schemes are useful, Europe should not bet on an exodus of scientists from the US. “The idea that we might all see them flocking over to Europe is naïve and counterproductive,” said Maria Leptin, president of the ERC, also speaking at the Science|Business conference on February 5. “We need research in the US to be as healthy as possible. I really admire those who are staying there with a will to fight and an optimism that the world will turn into a better place again,” Leptin said. Preserving dataDespite political disruption, academics have found ways to continue cooperating and sharing research data. Leslie Weir, president of the International Federation of Library Associations and Institutions and Canada’s national librarian, said the US cuts have raised concerns about research data security, after ideologically sensitive databases were limited or deleted by the Trump administration. But international organisations teamed up to ensure that the data is not lost. “It's interesting to see that researchers and libraries across North America are collaborating to make sure that data at risk is duplicated elsewhere outside [the US],” Weir said.
Health body issues warning over 'increased harm' from new drugs
The two alerts concern sedative drug medetomidine and new variants of another sedative, benzodiazepines.
The Southern Group makes a key addition in the Keys
'Her knowledge of Monroe County, its people, its issues, and its politics is unmatched.'
Local business stopped receiving mail with no explanation. NBC10 investigated why
One South Jersey businesses felt the strain as mail delays cause payment and document issues. NBC10 looked into the issue.
Floyd Mayweather sues Showtime Sports for $340 million amid explosive claims of misappropriation
Mayweather is seeking $340 million in misappropriated funds and punitive damages in a stunning lawsuit against Showtime Sports and former Showtime Sports president Stephen Espinoza.
'Becoming' media moguls? Michelle Obama, Melania Trump pursue Hollywood
"Melania," the first lady's documentary offers a differing approach to the Obamas' turn in Hollywood after they exited the White House.
McNeese Transitioning to Online Classes and Remote Business at Noon
Due to ongoing electrical issues in several academic buildings, McNeese will transition to online course delivery and remote business operations beginning at 12 noon today, Wednesday, Feb. 4, 2026.
Baltimore City Health Department issues Cold Blue extreme cold alert Wednesday night
The Baltimore City Health Deparmtnet activated a Cold Blue Extreme Cold Alert begining Wednesday night through Monday, Feburary 9 due to dangerous cold weather
Clintons, in Chess Match With Congress, Agree to Testify, Avoid Contempt Vote
Plus, partial shutdown’s end sets up debate over curbs on immigration officers’ operations, and MAGA has issues with Bad Bunny.
AMD Confirms Steam Machine in Early 2026, Xbox SoC Powered by RDNA 5 in 2027
AMD posted its record fourth quarter revenue of $10.3 billion in 2025, and during the earnings call, the company issued some guidance on the upcoming product portfolio. During the call, AMD confirmed that Valve's Steam Machine is on track and shipping early this year, while its custom SoC division t...
Texas issues new rules cracking down on student walkouts tied to political activism
Ricky Martin issues public statement to Bad Bunny after Grammys: 'I know how heavy it is'
Ricky Martin has all the feels about Bad Bunny's historic night at the Grammy Awards on Sunday — and he's letting the world know in an open letter to his fellow Puerto Rican singer.
iOS 26.2.1 Problems Reported by iPhone Users After the Update
iOS 26.2.1 update brings bug fixes and AirTag 2 support, but some iPhone users report crashes, Face ID issues, and Maps problems.
Bonta: California will 'remain resolute' in pushing back on Trump administration
Over the last year, California has sued the Trump administration 55 times – an average of more than one case a week.
Longevity doctor Peter Attia faces backlash over comments in Epstein files
Attia, a well-known author and influencer in the longevity space, issued an apology Monday.
FDA warns that Johnson & Johnson heart pump sensors may malfunction—22 injuries reported
There is a risk of users making adjustments during treatment that are unnecessary. The FDA is still evaluating the issue at this time.
SAVE THE DATE: NC Small Business Day Scheduled for May 12
Join us and learn more about the issues affecting your business.
Harrisburg bar, entertainment venue announces temporary closure
“Thank you for your patience and understanding as we tackle these issues. We’ll be back soon Harrisburg.”
TransLogic™ Launches Secure Tube System Monitoring for Healthcare Operations
BROOMFIELD, Colo., February 03, 2026--TransLogic, a Swisslog Healthcare company and a leading supplier in transport automation, has launched MYtranslogic, a breakthrough cloud-based repository, for North America healthcare facilities. The platform, developed in partnership with DevIQ, provides enhanced access to TransLogic tube system monitoring, helping prevent minor issues from escalating into system service interruptions that prove costly to patient care and staff efficiency.
Chris Shula not the issue with the Rams defense
The Rams defense struggled late, but Chris Shula isn’t the problem. Here’s why Sean McVay’s philosophy matters more.
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.
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.
Fitbit’s founders launch a new platform for monitoring your entire family’s health
Luffu tracks health data like medications, diets, and sleep and provides AI-powered alerts for potential health issues.
Josh Shapiro to unveil plan for managing the data center boom in Pennsylvania
The Democratic governor and potential presidential candidate is among those wading into new AI-adjacent political issues confronting both parties.
University Of Science And Technology, Korea Offers Fully Funded Scholarships
Study In South Korea: Students planning to pursue higher education in South Korea can apply for the UST Scholarship 2026.
Have the politics of ICE flipped?
Immigration enforcement was supposed to be President Trump's winning issue. Instead, it's become the rare fight where Democrats are on offense.
Galaxy Buds 4 may not have Galaxy Buds 3 like quality and reliability issues
Samsung has reportedly prioritized quality and reliability in the Galaxy Buds 4 and Galaxy Buds 4 Pro over simply offering more features.
San Francisco Small Businesses to Sue PG&E Over Losses From December Power Outages
Business owners and residents say the financial credits offered by the utility don’t reflect true financial damages.
Another Whataburger: See the business licenses issued in Hamilton County last week | Chattanooga Times Free Press
Business licenses issued Jan. 26-30, as provided by the Hamilton County Clerk's Office:
Survey finds prior authorization viewed as greatest hurdle in navigating health care
A KFF survey published today found that people view prior authorization as the biggest challenge beyond costs when navigating the health care system. In terms of issues people viewed as a “major burden,” prior authorization was highest at 32%, followed by understanding their bill or what they owe at 23%.
Politics Unplugged Podcast: Wayne Schutsky on guns & protests
KJZZ politics reporter Wayne Schutsky joins Politics Unplugged to dig deeper into the hot-button issue of guns at protests and Arizona's unique gun culture.
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
Trump threatens to sue Trevor Noah over Epstein joke at Grammys
President calls host a ‘pathetic, talentless, dope of an M.C’ after jibe about his connections to late sex offender at ceremony
Newly-Released MMO Ashes of Creation Left in Tatters as Senior Team Quits and Management Issues Layoff Warning — and Now Steam Is Reportedly Investigating
The future of the newly released Ashes of Creation is in doubt after its leadership team quit following a dispute with the management board — and now Steam is reportedly investigating.
Too old to compete? This 87-year-old triathlete has tips for staying in the game
Despite issues with her heart, this octogenarian still competes in triathlons. She's proof that preventive medicine paired with smart lifestyle choices help seniors stay active longer.
Japan's top business lobby invites activist fund Elliott for governance talks
Japan's biggest business lobby, Keidanren, has invited activist investor Elliott Investment Management to a private meeting on March 5 to discuss issues of corporate governance, it told member firms in a notice seen by Reuters.
Chicago police issue alert for string of business burglaries, armed robbery on Northwest Side
Chicago police issued an alert on Sunday about a string of business burglaries and an armed robbery on the city's Northwest Side.
Costco issues recall notice for bakery item due to undeclared allergen
Costco has recalled mislabeled "Mini Beignets filled with Caramel" that could cause allergic reactions due to undeclared tree nuts in 22 states.
Meningitis cases rise in major Midwestern city, prompting public health alert
Chicago health officials issue urgent alert after seven meningococcal disease cases, including two deaths. Know the symptoms and warning signs.
Middle Tennessee businesses struggle with supply chain, power issues from winter storm
Middle Tennessee businesses face ongoing supply chain issues and power outages more than a week after winter storms, impacting operations and revenue.
Former VP Mike Pence addresses immigration enforcement, tariffs, and more
The former vice president sat down with KCRA 3's Edie Lambert to talk about issues specific to California.
Free Reading health project helped man turn life around
Wassim Chokri says he was drinking too much and battling mental health issues before having a free check-up.
Politics: Bill restricting eminent domain undergoes changes in Iowa Senate
After similar legislation passed through the Iowa House of Representatives with relative ease last week, the Senate is considering a bill to distinctly limit the government’s authority to issue eminent
Trump jokes about suing his Federal Reserve nominee Warsh at elite Washington dinner
President Donald Trump joked that he might sue his newly selected Federal Reserve chair nominee, Kevin Warsh, over lowering interest rates in a speech to an elite group of Washington’s power set on Saturday night, according to a person who attended the dinner.
Paul George admits to taking 'improper medication' for mental health issue after NBA suspends him for 25 games
George is averaging 16 points per game for Philadelphia, which is currently sixth in the Eastern Conference standings.
CVS Health Faces Antitrust Scrutiny As Valuation Flags Undervaluation Risk
U.S. House Judiciary Committee alleges CVS Health restricted independent pharmacies from using competing digital pharmacy hubs. The investigation cites cease and desist letters and network rule changes as potential antitrust issues. CVS Health disputes the findings and says some policies have been revised. For investors watching CVS Health (NYSE:CVS), the focus is shifting to regulatory risk around how its pharmacy network operates. The company’s shares closed at $74.52, with a return of...
Gov. DeSantis to talk future Tampa Bay Rays ballpark? Speculation mounts
The stadium issue could be resolved finally
After Affirmative Action Win, Conservatives Sue to Push Change Everywhere
Lawyers have filed lawsuits against corporations, law firms, health care companies, art groups and nonprofits. And they are mostly winning.
California Attorney General Rob Bonta sues Rady Children's Health for dropping gender-affirming care
California Attorney General Rob Bonta filed a lawsuit against Rady Children's Health on Friday for shuttering its gender-affirming care program for patients under the age of 19.
TV tonight: Phil Collins reveals his health issues and 24-hour live-in nurse
A candid chat between the ‘hardest working man’ in rock and Zoe Ball. Plus, how will it end for DS Lucey in Blackshore? Here’s what to watch this evening
2 deaths, high cases reported in meningitis outbreak, Chicago Department of Public Health warns
The Chicago Department of Public Health has issued a new alert after two people recently died from a form of meningitis, and more cases than usual have also been reported in recent months.
Veteran goalie James Reimer to lead Senators vs. Devils
The Ottawa Senators were in dire straits when it came to their goaltending situation. Starter Linus Ullmark recently stepped away to deal with some mental issues, and young backup Leevi Merilainen wasn't ready to replace him.
Mother sues Novant Health after death of daughter left her with haunting questions
LaChunda Hunter didn't think she could have kids. When she learned she was pregnant, she called it a miracle. That miracle quickly became a nightmare after birth.
Liquid Meta and STREAMSIX Enter into Business Combination Agreement
Toronto, Ontario--(Newsfile Corp. - January 30, 2026) - Liquid Meta Capital Holdings Ltd. (Cboe CA: LIQD) (FSE: N5F) (OTC Pink: LIQQF) ("Liquid Meta") and STREAMSIX Inc., a private entertainment technology company, based in Toronto, Canada, are pleased to announce that, further to the press release issued on June 24, 2025, they have entered into a business combination agreement dated January 12, 2026, with an effective date of January 1, 2026 (the "Definitive Agreement") which outlines the terms
Scanlon’s campaign, Bronin endorsement: CT Politics news
Plus: Updates on the Connecticut Education Issues Summit, the Council of Small Towns, and the Planning and Development Committee.
Trump’s Immigration Push Fractures Republican Party
The party was mostly unified on the issue not long ago, but splinters are everywhere now.
Some Republicans Lament the Spending Deal Trump Has Blessed
Hard-right Republicans have criticized an agreement they see as capitulating to Democrats on their party’s strongest issue: immigration.
Gavin Newsom says he's 'burdened by the facts' as he criticizes California billionaire wealth tax proposal
California Gov. Gavin Newsom doubled down on his criticism of the proposed billionaire wealth tax, warning it could cut school and safety funding rather than solve budget issues.
Designing the future of metabolic health through tissue-selective drug delivery
Founded by MIT alumni, the biotech firm Gensaic develops protein carriers that can deliver therapeutic molecules to specific tissues and cells.
#PostPulpit Mailbag: What’s been wrong with the playoff offense?
The latest edition of our Patriots mailbag answers questions about the Super Bowl, offensive issues, and more.
F.B.I. Search in Georgia Shows Trump’s Willingness to Pursue 2020 Grievances
The search might also be a harbinger of things to come, signaling the president’s disposition to use the powers of law enforcement to intervene in election matters as the 2026 midterms approach.
Fate of Colorado River hangs in balance as political battle brews
The fight over the dwindling Colorado River has long been nonpartisan. Now an unprecedented meeting of governors over the issue raises the political stakes.
Live and dead pests found in kitchen of restaurant ordered to shut down by Metro Health
Metro Health inspectors issued demerits to two different restaurants in January after finding multiple live and dead pests, including roaches, in the kitchens.
Yakuza Kiwami 3 & Dark Ties Dev Acknowledges Demo's "Graphical Issues", Launch Update Planned
It "does not represent the final experience"
Health Care Provider Consolidation
I. Issue Overview Ongoing consolidation among hospitals, physician practices, and other providers poses a serious challenge to the U.S. health care system—offering potential benefits to some but also with significant worrying impact on rising health care prices. Provider consolidation remains pronounced among both hospitals and physician practices. The share of hospitals operating independently declined from … Continued
Hill Country floods are worsening mental health issues in Kerr County, report finds
In Kerr County, the July 4 flood is expected to quadruple serious emotional disturbances in children and more than triple adult PTSD cases this year.
‘Where Science Meets Patient Care’: URI College of Pharmacy to host 41st annual Seminar By the Sea
KINGSTON, R.I. — Jan. 29, 2026 — Pharmacists from around the region will earn valuable continuing education credits while discussing some of the most pressing current pharmacy and healthcare issues during the 41st annual Seminar By the Sea Northeast Regional Conference presented by the University of Rhode Island College of Pharmacy’s Office of Healthcare Workforce […]
DOH-Lee Issues Blue Green Algae Health Alert for Caloosahatchee River-Sebastian Canal - Florida Department of Health in Lee County
Contact:
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.
MLB offseason grades: Dodgers get top marks, plenty of Fs to go around
USA TODAY Sports issues grades for all 30 MLB teams this winter.
Health Care Costs Tops the Public’s Economic Worries as the Runup to the Midterms Begins; Independent Voters Are More Likely to Trust Democrats than Republicans on the Issue
Heading into this midterm election year, the cost of health care tops the public’s economic anxieties and more than 4 in 10 voters say the issue will have a major impact on their vote, this KFF Health Tracking poll finds.
KFF Health Tracking Poll: Health Care Costs, Expiring ACA Tax Credits, and the 2026 Midterms
Looking ahead to the midterm elections, health care costs are the public’s top economic concern, and many voters say the issue will have a major impact on their vote. On health care issues, including the cost of health care, voters currently trust Democrats more than Republicans, though neither party has an advantage on addressing the overall cost of living. Following the expiration of the ACA enhanced tax credits, two-thirds of the public say Congress did the “wrong thing” by not extending them.
Should We Treat Political Violence as a Public Health Crisis?
Thinking of political violence solely as a safety issue is not enough to address the harm that follows. “The patient is the community.”
'Let them sue us': Residents outraged over proposed mental health facility in Horry Co.
A town hall meeting turned heated as residents and mental health advocates debated the location of a proposed mental health facility.
Fact check: Trump says Democrats don’t talk about affordability anymore (they do) because inflation is over (it isn’t)
President Donald Trump tried Tuesday to concoct an alternative reality on the subject of “affordability” – piling lie on top of lie to try to convince Americans that the issue has vanished.
Norma Izzo Continues Earning Business Leader Recognition from AZ Big Media
For the third consecutive year, Spencer Fane attorney Norma Izzo has been recognized in AZ Big Media’s annual AZ Business Leaders issue for her
iOS 26.2.1—Update Now Warning Issued To Millions Of iPhone Users
Apple has released iOS 26.2.1, an important update that all iPhone users should apply now. Here's what you need to know.
Trump’s Favorite Wedge Issue Has Finally Met Its Match
Riley Gaines definitely doesn’t want you reading this.
Live updates: Trump issues warning to Iran as Rubio testifies before Senate on Venezuela
Kemi Badenoch apologises for Suella Braverman mental health claim
But she branded defectors from the Conservative party "drama queens", saying people who did not agree with the direction she was taking the party "need to get out the way".
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
How scientists predict big winter storms : Short Wave
This past weekend, Winter Storm Fern struck the States. Sleet, snow and ice battered Americans all the way from New Mexico to New York. Scientists predicted its arrival in mid-January, and in anticipation of the storm, more than 20 state governors issued emergency declarations. But how did scientists know so much, so early, about the approaching storm? NPR climate reporter Rebecca Hersher says it has to do with our weather models… and the data we put into them. Which begs the question: Will we continue to invest in them?Interested in more science behind the weather? Check out our episodes on better storm prediction in the tropics and how the Santa Ana winds impact the fire season this time of year. Have a question we haven’t covered? Email us at shortwave@npr.org. We’d love to consider it for a future episode! Listen to every episode of Short Wave sponsor-free and support our work at NPR by signing up for Short Wave+ at plus.npr.org/shortwave.This episode was produced by Hannah Chinn. It was edited by our showrunner Rebecca Ramirez. Tyler Jones and Rebecca Hersher checked the facts. The audio engineer was Robert Rodriguez. News clips were from CBS Boston, Fox Weather, Fox 4 Dallas-Fort Worth, and PBS Newshour.
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