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TIVER HONORED BY NJ BUSINESS & INDUSTRY ASSOCIATION FOR SUPPORT OF SMALL BUSINESSES
TIVER HONORED BY NJ BUSINESS & INDUSTRY ASSOCIATION FOR SUPPORT OF SMALL BUSINESSES February 2, 2026 Senator Latham Tiver (R-Burlington, Atlantic) was honored by the New Jersey Business & Industry Association (NJBIA) with the Paul L. Troast Award, recognizing his outstanding public service to the business community and strong commitment to improving New Jersey’s[...]
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
Brand-New Hit PS5 Exclusive Game Already on Sale on PS Store
A brand-new, acclaimed PS5 console exclusive adventure game is on sale on the PS Store, offering players a limited-time launch discount.
Toy Association Advocates for Science-Based Approach to California Microplastics Review
On January 30, The Toy Association™ submitted comments to the California Department of Toxic Substances Control (DTSC) in response to the agency’s request for information regarding consumer products that contain or generate microplastics, including c
EU reaffirms commitment to science-based multilateralism
Countries are meeting in Geneva for the first Intergovernmental Science-Policy Panel on Chemicals, Waste and Pollution plenary.
How generative AI can help scientists synthesize complex materials
DiffSyn, a computer model developed by MIT researchers, suggests promising ways to synthesize new materials for faster experimentation.
Geneva campus moves ahead with major science center buildout
A major new science complex is taking shape in Geneva as Hobart and William Smith Colleges finalize plans for the Fish Center for the Sciences, a four-story facility designed to bring multiple STEM disciplines under one roof. With design work nearly complete, the $25 million project marks one of the largest academic investments in the… MoreGeneva campus moves ahead with major science center buildout
K2 International Expands Financial Lines Capabilities with Acquisition of Rising Edge’s Management Liability Business
LONDON, February 02, 2026--K2 Insurance Services announces today the acquisition of Rising Edge’s Management Liability Underwriting business. This team will form a new division, rebranded K2 Executive Risk Limited, as part of K2 Group Holdings Limited (K2 International).
Synspective CEO on Business Outlook
Motoyuki Arai, Founder and CEO of Tokyo-based space technology firm Synspective, discusses his company's business and growth outlook, and addresses the global demand for satellite technology. He speaks exclusively with Avril Hong on the sidelines of the Singapore Space Summit on "Bloomberg: The Asia Trade". (Source: Bloomberg)
At the 2026 Grammys, Politics Get Personal, From Bad Bunny’s “ICE Out” to Olivia Dean's “Bravery”
For Hailey Bieber, there was a personal tinge to her ICE OUT button: her father, Stephen Baldwin, is an avowed Trump supporter.
State Department announces no citizen initiatives made 2026 ballot; pot campaign says that's premature
Smart & Safe Florida says enough signatures were submitted and verified in county offices before a Sunday deadline.
Arctic Vision Announces Deal to Integrate MDCO Technology’s Ophthalmic Device Business to Form a Global Drug–Device Innovation Platform
SHANGHAI, Feb. 02, 2026 (GLOBE NEWSWIRE) -- Headquartered in Shanghai, Arctic Vision (Cayman) Limited (“Arctic Vision”), a global ophthalmic company, announced that it has entered into an agreement to acquire the innovative ophthalmic device business of MDCO Technology, a Hangzhou-based ophthalmic medical-device company. The proposed transaction will bring MDCO’s premium intraocular lens (IOL), implantable contact lens (Phakic Lens), and refractive-device platforms into Arctic Vision’s global op
Media Recap: Rural Health Transformation Project Fund Distribution
The Detroit News published a story Jan. 29 on two recent House Appropriations Committee hearings on the distribution of Rural Health Transformation Program (RHTP) funds.
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 […]
Integration of health check-ups into school and healthcare systems can improve adolescent health in LMICs
Nature Medicine - In low- and middle-income countries (LMICs), adolescents have limited access to healthcare. A study in urban Zimbabwe demonstrated that routine check-up visits integrated within...
Are western New Yorkers spending more on digital entertainment as winter sets in?
As winter settles across Genesee County, colder evenings and shorter days are reshaping how households in Batavia and nearby communities spend their discretionary dollars. With outdoor options limited and heating
Fundraising hauls show RNC vastly outpacing Democrats ahead of midterm elections
The Republican National Committee vastly outpaced Democrats in 2025, according to year-end filings to the Federal Election Commission
MLB ALL-STARS AND ENTERTAINMENT ICONS TO PLAY IN 2026 ANNEXUS PRO-AM
Tournament Chairman Jason Eisenberg announced today that Major League Baseball standouts Cal Raleigh, Alex Bregman and Mookie Betts, along with entertainers Colin Jost and Brian Baumgartner, have committed to compete in the 2026 WM Phoenix Open Annexus Pro-Am, set to take place Wednesday, Feb. 4, on the Stadium Course at TPC Scottsdale.
Entrepreneurship summit connects business owners with essential resources
An entrepreneurship summit hosted by Ald. Milele Coggs featured workshops, vendors and speakers to help local entrepreneurs thrive.
Game companies see share prices plummet following the launch of Google's very limited virtual world generator, Project Genie
Gaming companies saw share prices plummet this week after Google rolled out Project Genie 3, an AI tool that lets users…
The Science of “the Giggle”: Why Laboratory Rats Love Being Tickled
If you think laughter and comedy are reserved strictly for humans, you’d be wrong. A study in the late 1990s showed that creatures like rats emit ultrasonic vocalizations while playing with or anticipating the opportunity to play with other rats. To make matters sillier, rats emitted similar vocalizations when they were subjected to manual somatosensory
Building Hope Summit County launches behavioral health survey
The nonprofit Building Hope Summit County, in partnership with the Katz Amsterdam Foundation and Professional Research Consultants, is launching its behavioral health survey, inviting Summit County adults to share their experiences and perspectives on mental...
Readers respond: Bipartisanship not holding Legislature back on health care
Letters to the Editor can be submitted to letters@oregonian.com with full name and place of residence.
Wes Moore confronts the limits of his own power in a fight with Maryland Democrats
Wes Moore can barely describe how he’d feel if he falls short in his push to gerrymander another Democratic seat in his state and the US House of Representatives ends up staying Republican.
US committee is reconsidering all vaccine recommendations
Move is dramatic departure for advisory group under Kirk Milhoan, who says he doesn’t like the term ‘established science’
What We Expect Athletes to Say Now
Not long ago, taking political stands almost seemed to become part of the job. These days, in another moment of social crisis, expectations have shifted.
World Laureates Summit: Can science give a blueprint for our future?
In a landmark convergence of intellect and governance, the World Laureates Summit (WLS) opens on Sunday in Dubai, gathering over 150 of the world's most eminent scientists, policymakers, and institutional leaders.Convened alongside the 2026 World Governments
Food and football from the campaign trail (Politics+) : The NPR Politics Podcast
In today's bonus episode, Don Gonyea (national political correspondent) and Deepa Shivaram (White House correspondent) each share the "most" fun politics story they've worked on. Deepa talks about working on her "dream" assignment during the 2024 presidential race. Don recalls a reporting trip during the 2012 presidential campaign where he ended up at a high school football game. He says it was "one of the best nights of his life." Listen to find out how you can submit a most-type question for us to answer in a future bonus episode! To unlock this and other bonus content, and get sponsor-free listening, sign up for NPR Politics Podcast+ via Apple Podcasts or at plus.npr.org. Regular episodes haven't changed and remain available every weekday!
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
Trent Seaborn Is Exactly What Alabama Football Needs Right Now
Trent Seaborn embodies the loyalty, commitment, and grit Alabama football demands. He's the leader building the next championship foundation.
Republican National Committee Enters 2026 With Nearly $100 Million Edge on D.N.C.
Democrats have struggled to raise money, as is often the case for the party out of power, but the depth of their financial hole against the Republican National Committee is noteworthy.
Dallas Cowboys land former Cardinals cornerbacks coach Ryan Smith
Former cornerbacks coach Ryan Smith now will coach the secondary for the Dallas Cowboys.
Alabama adds former Tennessee running back through transfer portal
Alabama has landed a commitment via the NCAA transfer portal from a former Tennessee and Appalachian State running back.
Rudovskii scores 23 as Bryant beats New Hampshire 92-84
SMITHFIELD, R.I. (AP) Timofei Rudovskii's 23 points helped Bryant defeat New Hampshire 92-84 on Saturday.
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.
Why Haven't The Guardians Added Anymore Bats This Offseason?
The Cleveland Guardians have tried to add external bats, but remain committed to their young core.
Book Review: “Do Aliens Speak Physics?” asks whether science is truly universal or shaped by the limits of human experience
Andy Warner and Daniel Whiteson have created a witty, illustrated inquiry into what the search …
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.
The DTH Sports staff predicts the outcome of the UNC-Duke game
The Tobacco Road rivalry will play at the Dean E. Smith Center on Feb. 7 at 6:30 p.m.
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...
Geno Smith was a garbage time king in 2025
Las Vegas Raiders’ quarterback padded stats late in games
How gene loss and monogamy built termite mega societies
Termites did not evolve complex societies by adding new genetic features. Instead, scientists found that they became more social by shedding genes tied to competition and independence. A shift to monogamy removed the need for sperm competition, while food sharing shaped who became workers or future kings and queens. Together, these changes helped termites build colonies that can number in the millions.
Senate Passes Deal to Fund Government and Negotiate ICE Limits
Democrats agreed to fund the Department of Homeland Security for two weeks while they negotiate with President Trump on restricting his immigration crackdown.
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.
LG joins the rest of the world, accepts that people don’t want 8K TVs
With virtually no content and limited benefits, 8K TVs were doomed.
Patriots’ Christian Gonzalez Praises ‘Amazing’ Seahawks Star Before Super Bowl
New England Patriots cornerback Christian Gonzalez will have his hands full during a marquee matchup that could sway Super Bowl LX against the Seattle Seahawks. New England’s red-hot defense must find ways to slow down Jaxon Smith-Njigba at Levi’s Stadium. The 23-year-old has blossomed into arguably the NFL’s best wide receiver during his third season, […]
New OU athletics director committed to pursuing entertainment district in Norman
Incoming University of Oklahoma Athletic Director Roger Denny reaffirmed the university’s commitment to building an entertainment district in University North Park during an introductory press conference Wednesday.
Theo Rossi, Mario Van Peebles & Derek Wilson Sink Teeth Into WeBros’ Vampire Island Thriller ‘Young Blood’
EXCLUSIVE: Theo Rossi, Mario Van Peebles and Derek Wilson are headlining the Ari Schlossberg directed and written vampire island feature Young Blood currently shooting in Key Largo, Florida. The trio join previously announced Myles Truitt, Madison Wolfe, Marley Aliah, Genneya Walton, Alex Aiono and Mitchell Hoog in the WeBros Entertainment production. Young Blood follows three college best friends who …
I Let Google's ‘Auto Browse’ AI Agent Take Over Chrome. It Didn't Quite Click
Auto Browse can shop for clothes, plan a trip, and buy tickets for you. Or at least, that's the idea.
Colorado House launches ethics review of Republican Rep. Ron Weinberg
The Colorado House will convene an ethics committee to review a complaint filed by Rep. Brandi Bradley, R-Roxborough Park, against fellow Republican Rep. Ron Weinberg, R-Loveland. It will be the first time since 2012 that the House has formed an ethics committee. The contents of Bradley’s complaint are confidential under House rules. Bradley has filed […]
Tickets on sale for Midland County Sports Hall of Fame’s 2026 induction
Buy $60 tickets now for the Midland County Sports Hall of Fame induction on April 11 at Dow Diamond; seating is limited.
'View' star Sara Haines breaks down in tears over covering grim news: 'Why get out of bed?'
'The View' cohost Sara Haines broke down in tears over covering grim news on the talk show, admitting she doesn't 'really have a safe space' amid headlines: 'Why get out of bed?'
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.
WVU Committee of Retired Faculty, OLLI host ‘Quantifying Health: Data, Discovery and the Path to Longevity’
OLLI at WVU and the WVU Committee of Retired Faculty will host Chancellor and Executive Dean for Health Sciences Dr. Clay Marsh as he presents “Quantifying Health: Data, Discovery and the Path to Longevity” at 2:30 p.m. Wednesday (Feb. 4).
901Women and Tiger Women’s Athletics to Celebrate National Girls and Women in Sports Day - University of Memphis Athletics
MEMPHIS, Tenn. – The Memphis Athletic Department and 901Women will celebrate National Girls and Women in Sports Day with its women's programs and staff membe...
Event Recap: Fourth Annual Health Solutions Summit | Committee for a Responsible Federal Budget
2026-01-30-Despite a recent ice storm, over 200 people turned out for hot chocolate and health policy on January 28, 2026‘s for the Committee for a Responsible Federal Budget's Fourth Annual Health Solutions
Over $2.6M in work permitted for Lafayette Walmart. See more Acadiana construction.
Here's what's under construction around Acadiana.
How Red Light Therapy Became Big Business for Beauty Brands
Glowing masks make for social-media friendly selfies, but red light therapy has potential beyond content fodder. Brands and specialists weigh in.
Vikings GM defends decision to move on from Sam Darnold, but admits results 'maybe didn’t play out the way we wanted'
Testing the system: regional simulation exercises advance global health security
These exercises – South-East Asia Regional Practice of All-Hazard IHR Event Communications (SAPHIRE), Joint Assessment and Detection of Events (JADE) in the European Region, and IHR Exercise Crystal in the Western Pacific Region – bring together National Focal points (NFPs), who play a critical role under the IHR in safeguarding global health security. These annual exercises stress-test IHR event communication procedures and contingency plans, demonstrating a sustained commitment by countries to strengthening preparedness and learning.
A ‘top priority in this building’: Senate health committee seeks to broaden access to primary care
An expansive bill seeks to change the way patients access primary care by changing the ways the state pays for it.
Little Liam Conejo Ramos' health deteriorating in Texas ICE facility, mom says
The preschooler 'has stomach pain, he’s vomiting, he has a fever and he no longer wants to eat,' the boy's mother says.
‘We’ll stay in the fight’: New OU athletic director committed to Rock Creek Entertainment District
The hiring of Roger Denny as OU’s next athletic director may signal the university’s plans to prioritize the advancement of the Rock Creek entertainment district.
Minnesota shooting blurs political lines around guns : The NPR Politics Podcast
Alex Pretti was carrying a permitted gun when he had a confrontation with federal agents who ultimately shot and killed him. While the Trump administration pointed to his gun as a reason for agents to fear for their safety, pro-gun groups argued Pretti had a right to carry. We discuss the rhetoric around guns and how marginalized communities in Minneapolis have been increasingly turning toward gun ownership.This episode: senior White House correspondent Tamara Keith, domestic extremism correspondent Odette Yousef, and senior political editor and correspondent Mara Liasson.This podcast was produced and edited by Lexie Schapitl and 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.
Joint Commission partners with STS, ACC on new cardiac care certification
The new certification is intended to focus on the importance of high-quality care and real-world patient outcomes. It will be based on the same data care teams already submit if they participate in the STS Adult Cardiac Surgery Database, ACC CathPCI Registry or STS/ACC TVT Registry.
Shaw’s ‘diamond in the rough’ goes from basketball-only to committing to LSU for football
Jackson Williams’ future appeared to be on the basketball court, but a transfer from Newman to Shaw put him on a new path to LSU football. Here’s his story.
theScore Bet Customers Flocking to Seahawks in Player Prop Markets
Seattle’s offense has averaged 36 points in the playoffs, so it's no surprise players like Jaxon Smith-Njigba and Kenneth Walker III are popular.
Out West Midland launches as new live entertainment promoter in West Texas
A new chapter in West Texas live entertainment is underway as Out West Midland, led by partners Sean Elphick, Ariel Herrera, Aidan Acosta, and Logan Acosta, launches with a commitment to continue the growth of live events in the Permian Basin. The 2026 Out West Midland concert season will feature a limited run of live [...]
Thom Browne Is the King of the Sports-Fashion Crossover
From dressing LeBron and Serena to hosting an annual football game, few designers are as tapped in to the world of athletics as the shrunken-suit OG.
College basketball grades: Revisiting preseason All-American predictions
Some of the All-American projections were poignant, but there were a few notable whiffs
Ruben Östlund Admits He Bought a Plane to Make ‘The Entertainment System Is Down,’ Cast Keanu Reeves as an Electrician and Says It’s About Today’s Society: ‘We’re Harming Ourselves and We Know It’
Ruben Östlund teases upcoming 'The Entertainment System Is Down' and the experiment that inspired it, says he bought a plane to shoot it.
An AI Toy Exposed 50,000 Logs of Its Chats With Kids to Anyone With a Gmail Account
AI chat toy company Bondu left its web console almost entirely unprotected. Researchers who accessed it found nearly all the conversations children had had with the company's stuffed animals.
Santa Rosa council endorses downtown zone that would permit to-go alcohol consumption
Consuming a beer or wine bought from a nearby establishment would be allowed in two public areas Friday through Sunday, with details still to be worked out.
AHA Committee on Behavioral Health names 2026 officers, new members
The AHA’s Committee on Behavioral Health today announced its officers and new members for 2026.
John Hancock CEO: We all have a role in driving better health outcomes for Americans
I recently testified before the U.S. Congress Joint Economic Committee on improving long-term health outcomes and reducing healthcare costs.
Joan Esmie MS ’26 Named PAEA Student Health Policy Fellow
Reflecting Ithaca College’s Commitment to Community-Minded Leadership
Opinion: Colorado’s plan to cut sexual health education funding would erase real gains for rural students
The statewide program is a key element in Colorado’s commitment to support the mental health and well-being of our young people.
Lakers routed in LeBron's possible last game in Cleveland
Donovan Mitchell scored 25 points and the Cleveland Cavaliers routed the Los Angeles Lakers 129-99 on Wednesday, spoiling what might be the final Cleveland game for superstar LeBron James.Jaylon Tyson added 20 points for the Cavs and De'Andre Hunter scored 19 off the Cleveland bench while Luka Doncic had a game-high 29 points for the Lakers (28-18), who also had eight points from Bronny James, LeBron's son.
Senate committee reviews Gov. Beshear’s budget proposal
The proposal dedicates $500 million of the budget reserve trust fund to affordable housing, rural hospital assistance and food assistance.
Josh Shapiro accuses JD Vance of giving 'comfort' to right-wing antisemitism
The Democratic governor of Pennsylvania, a potential 2028 presidential candidate, is on a book tour promoting his memoir, which highlights his Jewish faith.
Brit Hume: Minnesota immigration operations have hit ‘political limits’
Fox News chief political analyst Brit Hume assesses new polling that suggests Americans believe I.C.E. operations are aggressive on ‘Special Report.’
How Do Menopause and a Treatment to Manage Its Symptoms Affect the Brain and Mental Health?
New research suggests an association between menopause and anxiety, depression and shrinkage in certain brain regions—which hormone replacement therapy might not mitigate
$10 million gift to fuel transdisciplinary data science
Tom and Cathie Woteki, an alumni couple who made profound contributions to the fields of public health and applications of enterprise computing in their careers, have made a $10 million estate gift commitment to endow multiple faculty positions or fellowships, as well as create graduate fellowships, in the College of Science and College of Agriculture and Life Sciences.
Republicans Gave ICE a Slush Fund. Democrats Want to Limit It.
The sweeping domestic policy law that Republicans muscled through Congress last year made ICE the highest-funded federal law enforcement agency in the country, with no strings attached.
Hearing on Veterans Affairs Health Care System
The Senate Veterans' Affairs Committee will hear testimony from Secretary Doug Collins on proposed changes to the department's health care system.
‘Trust, love, commitment’: Esteemed business leaders and former Notre Dame football student-athletes reflect on how to be champions of hope at Walk the Walk Week event
On Monday (Jan. 26), two distinguished business leaders and former Notre Dame football student-athletes — Tracy Graham ’95 and Byron Spruell...
Singer "Kid Rock" & Entertainment Policy Advocates Testify on Concert Ticket Fees
Singer "Kid Rock," Live Nation Entertainment VP Dan Wall & entertainment policy advocates testify to a Senate Commerce subcommittee on ticket prices and fees.
Give Your Problems (and Passwords) to Moltbot, Then Watch It Go
A viral new virtual assistant formerly known as Clawdbot is complex and brings security risks—but some early adopters say it feels like the future.
Google begins rolling out Chrome's "Auto Browse" AI agent today
The Auto Browse agent is available to AI Pro and AI Ultra subscribers, but there are some limits.
Google’s New Chrome ‘Auto Browse’ Agent Attempts to Roam the Web Without You
Google’s latest addition to its Chrome browser puts generative AI behind the wheel and you in the passenger seat.
Marco Rubio admits Trump confused Iceland with Greenland
Secretary of State Marco Rubio admitted during a Senate hearing on Jan. 28 that his boss confused Iceland with Greenland during a speech last week.
Gemini details AI Plus limits, rolls out NotebookLM integration on iOS
Google brought the AI Plus subscription to the US yesterday, and here’s how it upgrades usage limits in the Gemini app.
Nervous Allies and Fox News: How Trump Realized He Had a Big Problem in Minneapolis
President Trump often blusters his way through a crisis, refusing to back down. Minneapolis tested the limits of that strategy.
Top Five Moments: Budget Committee Hearing on Skyrocketing Health Care Costs
The Official U.S. Congressional website of The Republican Budget Committee
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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