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Opinion: Jose Aldo is still the featherweight GOAT. For now.
In this week’s mailbag, I got a question that has been a hot topic since Alexander Volkanovski defeated Diego Lopes on Saturday at UFC 325 to defend his featherweight title: Who is the featherweight GOAT? I started to answer it for the mailbag, but then it spiraled, so I figured I’d address this on its […]
Dundalk family says grandmother was wrongly declared dead, cutting off health coverage
A Dundalk family said a startling error in Maryland’s Medicaid system left their elderly loved one without health coverage for weeks after the state mistakenly
SBA bars green card holders from business loan ownership starting March 1
A new Small Business Administration policy taking effect March 1 will bar businesses with any legal permanent resident ownership from receiving SBA-backed loans, reversing longstanding eligibility rules and moving in a direction that lenders say
Illinois Gov. JB Pritzker spends $5 million to boost his pick for Senate in his state
As early voting starts in the Democratic primary, the billionaire governor is spending big to help his lieutenant governor, Juliana Stratton, overcome a massive fundraising deficit.
Donaldson makes $820M deal to buy another filtration business
Bloomington-based Donaldson agrees to acquire Filtration Group’s Facet Filtration business.
Improve Heart Health With Start TODAY's February Challenge
February is American Heart Month so TODAY fitness contributor Stephanie Mansour stops by Studio 1A with what you should know about your heart health and shares a 28-day exercise move with heart challenge for the month of February.
5 ChatGPT Prompts To Identify Your Highest-Leverage Activities In Business
Busy but not profitable? These 5 ChatGPT prompts reveal your highest-value activities so you can stop guessing and start growing.
I tried a Claude Code alternative that's local, open source, and completely free
I was curious if Block's Goose agent, paired with Ollama and the Qwen3-coder model, could really replace Claude Code. Here's how I got started.
An incredible sports week arrives with Olympics, Super Bowl. Plus: NFL coaching carousel wraps up
The Pulse Newsletter 📣 | This is The Athletic’s daily sports newsletter. Sign up here to receive The Pulse directly in your inbox. Good morning! It’s the start of a brilliant sports week. Coming up: 🏅 Olympic stars to know 🏈 Super Bowl week, baby ✍️ Coaching carousel problem We often talk about the unmatched glory of a great sports weekend, whether that’s the first two rounds of the NCAA Tournament, MLB’s Opening Day blitz, Thanksgiving weekend in the football world, whatever. We have arrived at one of those junctures — and it’s a full week. Let’s start...
Hefty taxes kick back in for small Philly businesses
Many businesses are likely unprepared and unaware they need to start paying the city's Business Income and Receipts Tax.
How a Replit engineer balanced pregnancy, startup hours
Replit product engineer Rachael Fuller said she signed her contract one week before learning she was pregnant. Here's how she managed her time.
Sunburn — The morning read of what’s hot in Florida politics
Start your day with coffee and Sunburn, your daily dose of Florida politics.
Bridging the STEM Gap: Women, Science, and Why Prevention Starts with Equity
Women’s inclusion in STEM is critical for ethical AI, equitable health systems and social justice – data shows closing the gap transforms society.
Celtics’ Joe Mazzulla Reveals Plan For NBA Trade Deadline
The NBA Trade Deadline is coming up on Feb. 5, and players are already starting to change teams. The Boston Celtics are in an interesting position this year. While they were expected to be deadline sellers coming into the season, they’ve wildly surpassed expectations, going 31-18 and ranking second in net rating. Accordingly, the Celtics […]
A look at who could round out the Astros rotation
Joe Espada has been upfront about wanting to start the season with a six-man rotation. Hunter Brown, Cristian Javier, Mike Burrows and Tatsuya Imai appear to have four of those spots locked up, but what about the other two? Here’s a list of contenders to watch with the start of spring training just a week […]
Goalie Fight! Bruins’ Jeremy Swayman Drops Gloves In Stadium Series
Boston Bruins goaltender Jeremy Swayman has been looking for a fight… for years. If you thought he was going to pass up an opportunity to finally drop the gloves on a national stage during the Stadium Series against the Tampa Bay Lightning, you’re even crazier than he is. Swayman, who kickstarted the tension by leaping […]
Bengals QB Joe Burrow added to AFC Pro Bowl roster
Cincinnati Bengals starting quarterback Joe Burrow has been added to the AFC roster for this year's Pro Bowl games.
Kennedy Center will halt entertainment operations for two years, Trump says
DC arts venue, which has seen wave of canceled events after Trump’s takeover, will start renovations in July
Inside the startup rush for Europe's new war chest
Europe fears it can't beat Russia's style of war — creating a golden opportunity for defense founders.
Kennedy Center to cease entertainment operations for two years, Trump says
The John F. Kennedy Memorial Center for Performing Arts should not host any events for two years, starting on July 4, President Donald Trump posted on Sunday.
Kennedy Center to cease entertainment operations for two years, Trump says
Feb 1 (Reuters) - The John F. Kennedy Memorial Center for Performing Arts should not host any events for two years, starting on July 4, President Donald Trump posted on Sunday. "Based on these findings, and totally subject to Board approval, I have ...
Kennedy Center to Cease Entertainment Operations for Two Years, Trump Says
Feb 1 (Reuters) - The John F. Kennedy Memorial Center for Performing Arts should not host any events for two years, starting on July 4, President Donald Trump posted on Sunday. "Based on these findings, and totally subject to Board approval, I have determined that the fastest way to ...
MLB rumors: Red Sox trade one of baseball's hardest-throwing pitchers to Chicago
Jordan Hicks, who has experience as a starter and reliever, is changing his Sox
Georgia Handles Business with In-State Emory at Home with Senior Day Sweep
Georgia controlled the meet from start to finish, piling up 32 victories while sweeping both the men’s and women’s duals in Athens.
INTERVIEW: Winter at Science Museum of Minnesota
There's a whole lot happening at the Science Museum of Minnesota, with multiple programs for visitors of all ages starting this month.
Patriots’ Offensive Line Has Already Made Super Bowl History
When New England Patriots rookies Will Campbell and Jared Wilson take the field for the Pats’ first offensive series in Super Bowl LX, they’ll have made history. That’s because the Patriots are about to become the first team to start two rookies in the offensive line in a Super Bowl. Both guys have been awesome […]
How to watch the Grammy Awards and what to know before the show starts
Before music's biggest night commences with performances from Justin Bieber and Lady Gaga, most of the Grammy Awards will be given out on Sunday afternoon in L.A. Follow along for our live updates throughout the day.
Liverpool 4-1 Newcastle — Match Report: Mid-Table Nightmare
Newcastle United’s return to Premier League action ended in frustration as Liverpool stormed back to earn a 4–1 comeback win at Anfield. The Magpies have now dropped 16 points from winning positions in the league, keeping just two clean sheets in their last 17 games. Eddie Howe’s boys made a promising start but left Merseyside […]
Lake Street business owner joins with Latino nonprofit to raise $1M for families
Effort by Colonial Market one of many Minnesota fundraisers popping up to help people impacted by the immigration crackdown.
Amy Klobuchar navigates thorny politics of immigration as first test in run for governor
The moment will test Klobuchar’s record of bipartisan work in Washington and relationships with Minnesota progressives, who want a fighter against the Trump administration.
If We Care About Learning, We Must Care About Kids’ Oral Health
Izvernari: We must start treating children’s oral health as what it really is: a foundation for academic success, not an afterthought.
Robert F. Kennedy Jr. is holding Trump's agenda back
The goodwill that voters afforded Robert F. Kennedy Jr. during the election has started to erode in the wake of chaos.
Ashes of Creation's Steven Sharif Resigned 'In Protest' As Intrepids Board Starts Mass Layoffs At MMO Studio
The future of Ashes of Creation seems to be in limbo following the news earlier tonight that its creative director and studio co-founder, Steven Sharif, resigned in protest over the Board of Directors' decision-making.
Facing Immigration Backlash, Trump Called Schumer to Cut a Deal
The president and the top Senate Democrat, who are often at each other’s throats, agreed to try to keep the government open and to start talks on new limits on federal immigration agents.
Ayaneo's Pocket S Mini has the perfect aspect ratio for revisiting classic console games
The Pocket S Mini is already available on Ayaneo's website and currently starts at $319.
Cardiologist: think of heart health as investing, start early
Lifestyle changes can make a big impact on your heart health. A cardiologist says we should start early.
Apple buys Israeli startup in its second-largest deal
Q.ai’s technology uses “facial skin micro movements” to enable communication without talking.
A history of Dodgers brothers playing together
The Dodgers have River Ryan returning from 2024 Tommy John surgery, and is expected to be part of the team’s starting rotation puzzle in the 2026 season. There’s also at least a chance that he might be teammates with his brother Ryder Ryan, who was signed by the Dodgers to a minor league deal that […]
Reusse: Latest generation of Pohlads has made it clear Twins are a business
An organization that was thick with camaraderie for decades appears to be a different entity with Derek Falvey’s departure.
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.
Apple's New Lip-Reading Tech Is a Weird Signal of Where We're Heading
Commentary: The purchase of a startup called Q.ai isn't a blip on the radar. The way we use our wearables could be changing in very weird new ways.
12+ powerful Alexa commands you should start using at home (no subscriptions required)
Alexa works well out of the box, but these lesser-known features make it even more useful.
Amazon’s layoffs are staggering. We’ve seen this before
Big Tech continues to wrestle with mass layoffs, most recently with Amazon’s announcement of 16,000 job cuts. It’s a trend that started long before the AI race: organizational change brought by the arrival of new technology.
Michigan State falls to Michigan, failing to overcome horrific start
Michigan State could not overcome a horrific first half, falling to Michigan in East Lansing.
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.
Pacers actively seeking starting-caliber center on trade market
Pacers actively seeking starting-caliber center on trade market
M Health Fairview brand to end with newly approved agreement
Patients are expected to continue to have access to the same doctors as the health system changes branding under new agreement between U, Fairview.
Upstart San Jose Mayor Matt Mahan joins California governor's race
San Jose Mayor Matt Mahan, a political upstart, and sometimes Newsom critic, enters his name into an already crowded fielid for California governor.
The silent breakthrough: why Apple paid $1.5 billion for a secret Israeli startup
Apple has announced the acquisition of Israeli startup Q.ai, which developed technology that deciphers speech without sound, by reading micro-movements of the face and jaw, the system translates whispers and silent speech into words and commands
Tampa Bay Business & Wealth Magazine Announces Leadership Transition and Next Phase of Growth
Tampa Bay Business & Wealth (TBBW) today announced a leadership transition and the start of a new chapter for the publication, marking a significant milestone in its continued evolution as a leading voice for the region's business community.
The ICE surge has disrupted business. Minnesota’s top economic official is ‘very concerned.’
In an interview, DEED Commissioner Matt Varilek spoke at length about how ICE is affecting businesses and making the job of growing the state’s economy more difficult.
Saks Off 5th closing stores, Saks off fifth liquidation sale in Shrewsbury
Saks Off 5th will start going-out-of-business sales on Jan. 31, including its Shrewsbury, Elizabeth and Bridgewater stores.
Unified sports programs bring together athletes for more than wins and losses
At Minnesota schools, special needs students and those in general education bond in the arena of competition
Geauga County seeks applicants for Board of Health vacancy
Geauga County seeks applicants for a Board of Health vacancy; applications due by Feb. 25 for a five-year term starting March 2026.
Gut Health Docs Always Start Their Day With This 1 Drink
In TODAY.com's Expert Tip of the Day, gastroenterologists share how they start their mornings.
In one South Carolina county, measles starts to feel like next pandemic
Health experts fear a future where measles outbreaks keep taking over towns with low vaccination rates.
Grading the Dolphins quarterbacks – The Splash Zone 1/30/26
Welcome to the Splash Zone, the quickest way to get your day started off right. We bring you a rundown of Miami Dolphins news from the last 24 hours.
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 […]
Leaked Intel Core Ultra 7 356H Benchmark Scores Reveal Middling Gains
Intel's Core Ultra 356H is an upcoming 16-core (4 P-cores, 12 E-cores) mobile Panther Lake CPU. Although official review embargoes for the rest of Intel's Panther Lake CPUs are said to be right around the corner, supposed performance benchmarks for Intel's latest have already started to leak, with C...
Ford names a new head to its energy business startup
Executive Lisa Drake has been tapped to run Ford Energy, a new division that will make battery storage systems.
Judge to weigh political motives in ICE surge
A federal judge has asked the Trump administration to respond to allegations from the state’s leaders that Operation Metro Surge is motivated by animosity toward Minnesota.
6 Tactics Black Businesses Can Apply To Spur Revenue Growth In A Post-DEI World
Starting roughly a year ago, DEI rollbacks have meant $217 million in lost federal contracts to small businesses, including Black-owned ones.
Apple buys Israeli startup Q.AI as the AI race heats up
Apple announced its acquisition of Q.AI for a reported nearly $2 billion, making it the company's second-largest acquisition to date.
Apple buys Israeli start-up Q.AI as it races Meta and Google on AI devices
Deal worth close to $2bn for secretive group that creates technology that analyses facial expressions
I built marshmallow castles in Google’s new AI world generator
Starting Thursday, Google AI Ultra subscribers in the U.S. can play around with Project Genie, which is powered by a combination of Google’s latest world model Genie 3, its image generation model Nano Banana Pro, and Gemini.
Apple acquires audio AI startup Q.ai
Apple on Thursday said it has acquired Q.ai, an Israeli startup working on artificial intelligence technology for audio.
How to watch the 2026 Grammy Awards: TV channel, start time, where to stream, nominations list and more
What to know about tuning into the 2026 Grammy Awards this weekend.
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.
Spring Health to buy Alma as AI rapidly reshapes mental healthcare market
Spring Health, a company that offers digital mental health care and navigation services, plans to acquire Alma to expand its offerings and tap into the startup's deep roster of health plan partners | Spring Health, a company that offers digital mental health care and navigation services, plans to acquire Alma to expand its offerings and tap into the startup's connections to health plans.
AI Real Estate Business Taps $100 Million Private Credit Loan
Propy, a real estate technology company, tapped the private credit market for the first time, securing $100 million to support the startup’s acquisition strategy.
Escape from Washington? Senators look to start new chapters as governors
U.S. senators are increasingly looking to leave Washington for leadership roles in their home states
Escape from Washington? Senators look to start new chapters as governors
U.S. senators are increasingly looking to leave Washington for leadership roles in their home states.
Minnesota women business leaders respond to big company CEOs
In today's North Star Insider: The small business response to big company CEOs; First Ave.'s plea to music industry, and Travis Kelce invests in Sleep Number.
Exclusive | Spring Health to Buy Alma in Merger of Mental-Health Startups
Venture-backed digital-health startups are using mergers and acquisitions to expand offerings as AI competition intensifies.
Driving Habits Provide Window Into Seniors' Brain Health
By Dennis Thompson HealthDay ReporterTHURSDAY, Jan. 29, 2026 (HealthDay News) — Larry Duncan valued driving as part of his independence. But Duncan — a retired business owner from Pinehurst, North Carolina — started to become more nervous behind the wheel prior to his diagnosis with Alzheimer’s ...
Hungary Business Confidence Drops as Orban’s Stimulus Falls Flat
Hungarian business confidence dropped sharply at the start of the year, reversing recent gains in another blow to Prime Minister Viktor Orban before parliamentary elections.
Popular streaming service is shutting down. Here’s when it will start going offline
Nintendo might have accidentally revealed when the shutdown will be begin.
Braves News: Starting pitching rumors, Sean Murphy injury, more
Atlanta Braves news and notes from Wednesday
NWSL players dig into grass vs. turf debate and more at media day
At NWSL media day, players gave their thoughts on the general state of affairs, from fresh starts with new teams to the growth of the league.
’Canes Science Bowl brings STEM education to more students
University of Miami student Sabrina Cuba and graduate Alberti Regalado started the ’Canes Science Bowl to build an interest in STEM education in current ’Canes and pre-college education students. Adriana Gonzalez and Aaliyah Davis, the new ’Cane Science Bowl presidents, are keeping the dream alive. They will host the annual spring ’Canes Science Bowl with
DeWine defends hemp beverage ban: Businesses knew the risks
A veto by Gov. Mike DeWine eliminated a provision that would have allowed popular THC drinks to remain on sale through the end of 2026. The governor said Wednesday businesses knew the risks when they got started.
Opinion | A defense of business leaders’ pragmatic letter about the events in Minnesota
"Maybe public vitriol isn’t the measure by which to judge the words of business leaders in today’s world and with this president," Tom Horner writes.
Amazon layoffs: Leaked memos explain job cuts amid startup shift
Amazon announced 16,000 corporate layoffs on Wednesday. Executives say it aims to transform into the 'world's largest startup' with a cultural reset.
Wheeling police to host crime watch meetings for businesses
For the first time, the Wheeling Police Department will host crime watch meetings specifically for local businesses, starting Feb. 4.Business owners from downt
Google brings its Nano Banana image generator to Chrome
Following its recent AI makeover of Gmail, Google is bringing more Gemini-powered tools to Chrome. Starting today, a host of new features are rolling for the browser, with more to come over the next few months.
Record-breaking South Carolina measles outbreak nearing 800 cases
The record-breaking measles outbreak in South Carolina has reached nearly 800 cases, making it the largest spread of the disease in the U.S. since it was first declared eliminated at the start of t…
The Entertainment District Focus Group examining long term future of Berglund Center complex
Its called the Entertainment District Focus Group, a mostly citizen group asked to weigh in on a possible casino at the Berglund Center - just for starters. The Entertainment District Focus Group is centered around the Berglund Center Complex, as the city looks to generate more revenue. Is there sup
On Data Privacy Day (and every day): Protect your small business
Cybercriminals target companies big and small. Today is Data Privacy Day — a great opportunity to take a look at how you keep your business and customer data protected. Get started with the FTC’s updated resources at ftc.gov/cybersecurity.
A Go-Kart Track Is Just the Start at This Arizona Home Built Like a Sports-and-Entertainment Complex
Over-the-top amenities at the $20 million listing include a batting cage, a basketball court, a shooting range, a day spa, a dance studio and a gaming lounge
New WhatsApp lockdown feature protects high-risk users from hackers
Meta has started rolling out a new WhatsApp lockdown-style security feature designed to protect journalists, public figures, and other high-risk individuals from sophisticated threats, including spyware attacks.
Analysis: Trump’s team almost never backs down from its false claims. This past week has been different
From the start, this has been a say-anything presidential administration.
Exclusive: Climatic inhales $10M for respiratory wellness
Lerer Hippeau led the consumer health startup's seed round.
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
The best and worst states to start a business in 2026
'It’s crucial to establish your business in a state that will maximize your chances of success,' one analyst said.
Clawdbot AI assistant: What it is, how to try it
You can start using the personal AI assistant right away, but you should understand the security risks first.
Sword Buys Kaia Health, Plans Fresh $500 Million Funding Round
Sword Health agreed to acquire rival Kaia Health for $285 million in its biggest deal to date, expanding the AI health startup’s footprint in the US and marking its entry into Germany.
Bernard Arnault started LVMH's earnings call with some dark humor
The LVMH CEO started an earnings call with, "I think we'll make it through the winter."
The Wolfpack Peels the Orange 88-68
Game Summary: NC State started the game well for the first time lately. By the first official timeout the lead was 13-5 Wolfpack. Despite a decided height advantage, the rebounds were tied at 16 at the half. Stats were generally even; the Pack won the first half with quality shooting 50%/40%/82%. Williams had a great […]
'Ready to get out of the house': Businesses reopen after ice storm forces closures
As the ice over Central Texas continued to melt on Tuesday, Austin's small businesses slowly started to open back up.At Sour Duck Market in East Austin, the fre