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Results for " tia " 10,796 found 🔀 AI-powered Shuffle

Michigan Matters talks potential for new entertainment and sales tax for Detroit
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Jan 30 • 3:02 PM EST • Entertainment • cbsnews.com
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Nevada's first-in-the-nation primary bid gets boost from political group Latino Victory

Nevada, New Hampshire and South Carolina are vying to be the first state to vote in the 2028 Democratic presidential primaries.

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Jan 30 • 2:00 PM EST • Politics • cbsnews.com
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What time would a government shutdown begin? Deadline looms over Congress

A potential government shutdown comes as DHS funding grows contentious.

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Jan 30 • 1:00 PM EST • Politics • usatoday.com
Missouri sees net loss in first month of sports betting

Missouri’s first month of legalized sports betting shows massive participation but results in a net loss from substantial deductions.

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Jan 30 • 12:49 PM EST • Sports • fox4kc.com
US Senate scrambles to reach funding deal as partial shutdown deadline looms

Killings of Alex Pretti and Renee Good prompted Democrats to block passage of a measure funding DHS

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Jan 30 • 12:35 PM EST • Politics • theguardian.com
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Local Small Business Owner Opens Pak Mail Inside of His Existing Accounting Business in Springville, Alabama--Offering Shipping and Office Services

Annex Brands, Inc., one of the leading franchisors in the packing, shipping and office services industries, is excited to announce the opening of its newest Pak Mail location inside of Chapman Accounting Solutions in Springville, AL to new owner, Edward Chapman. This new Pak Mail is set to offer a wide range of essential shipping and office services to the local community, making it easier to provide more service to more people in more places.

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Jan 30 • 8:32 AM EST • Business • finance.yahoo.com
Yankees Potential Free Agent Target: José Quintana

The Yankees need another arm to insure against an early-season disaster, and Quintana offers a solid floor for the money.

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Jan 30 • 8:00 AM EST • Sports • pinstripealley.com
Bouncy balls and beyond: Collaborative project connects science with community

Through “Mission: Materials Science,” a long-running outreach initiative supported by Penn State’s U.S. National Science Foundation–funded Materials Research Science and Engineering Center, graduate students from across disciplines have partnered with museum educators and media professionals to transform materials science research into free, hands-on learning activities.

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Jan 30 • 7:00 AM EST • Science • psu.edu
Midwestern University Appoints One Health Initiative Coordinators

Dr. Karen Gruszynski and Dr. Tiffany Hughes chosen to educate the MWU community on the benefits of One Health

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Jan 30 • 7:00 AM EST • Health • midwestern.edu
Science Fields and Methodology Came from a Christian Worldview

Is Christianity incompatible with real science? The development and history of science answer a resounding “no.”

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Jan 30 • 7:00 AM EST • Science • answersingenesis.org
3 potential assistant coaches for Commanders' defensive staff

The Commanders have a new defensive coordinator, which could mean several coaching changes on that side of the ball. We look at three names to watch.

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Jan 30 • 3:01 AM EST • Sports • commanderswire.usatoday.com
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Science Fair spotlights student talent in STEM

The Tulsa Regional STEM Alliance Science Fair, returning Feb. 12, is an annual event that not only inspires young minds in Green Country but also showcases the potential of Oklahoma’s

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Jan 30 • 1:15 AM EST • Science • tulsapeople.com
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Rovers game 'will not define our season', says Fuchs

Newport County boss Christian Fuchs has played down suggestions that Saturday's trip to relegation rivals Bristol Rovers is season defining.

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Jan 30 • 1:05 AM EST • Sports • bbc.com
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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.

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Jan 30 • 12:15 AM EST • Business • vogue.com
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Possible measles exposure at UNC Nash County Health Department after child tests positive

Nash County health leaders are sending out a warning about a potential measles exposure after a child who visited the UNC Health Nash Emergency Department on Tuesday tested positive for the disease. Anyone who was at the health department between 9 a.m. and 11 p.m. Tuesday may have been exposed.

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Jan 29 • 10:47 PM EST • Health • wral.com
Basil Talbott Jr., legendary Chicago Sun-Times political editor, has died

Talbott, 89, was known for his dogged pursuit of the story, chronicling in depth the political fortunes of Jane Byrne, the city’s first female mayor, Harold Washington, Chicago’s first Black mayor and the run-ups to the Rev. Jesse Jackson’s presidential campaigns.

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Jan 29 • 9:20 PM EST • Politics • chicago.suntimes.com
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Nash County leaders warn of potential measles exposure at UNC Health Nash

The Nash County Health Department is alerting the public after an unvaccinated child who recently traveled internationally tested positive for measles following a visit to the UNC Health Nash Emergency Department.

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Jan 29 • 7:50 PM EST • Health • wral.com
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UN criticizes Haiti for lack of progress on a political transition

UNITED NATIONS (AP) — The U.N. Security Council criticized Haitian authorities Thursday for the lack of progress in achieving a political transition and called for urgent security sector reforms to tackle increasing violence by gangs and criminal groups.

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Jan 29 • 7:38 PM EST • Politics • wral.com
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The Pokémon TCG: Mega Evolution—Ascended Heroes Expansion Is Available Now

Celebrate the stars of Scarlet & Violet, and marvel at the potential of returning and newly discovered Mega Evolution Pokémon ex.

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Jan 29 • 7:00 PM EST • Technology • pokemon.com
Scaling innovations in public health systems: guidance and toolkit

This guidance is a strategic instrument to position governments as drivers of health systems transformation. By embracing the roles, processes and strategies outlined herein, public sector leaders can move beyond short-term initiatives and isolated successes toward lasting, large-scale improvements in health outcomes.

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Jan 29 • 7:00 PM EST • Health • who.int
U.S. Department of State and National Football League Sports Diplomacy Partnership - United States Department of State

Today, the U.S. Department of State and the National Football League (NFL) announced a partnership to support and enhance the Department’s sports diplomacy initiatives and to collaborate on major sporting events, including international NFL games, the Super Bowl, and the debut of flag football at the 2028 Summer Games in Los Angeles (LA28). As American […]

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Jan 29 • 4:39 PM EST • Sports • state.gov
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

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Jan 29 • 4:21 PM EST • Health • bipartisanpolicy.org
Minority Leader Hakeem Jeffries provides an update on the latest government funding negotiations
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Jan 29 • 4:16 PM EST • Politics • cnn.com
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Science Politics communicates science, tech and policy to a broad audience | School of Foreign Service

Science Politics, a new STIA publication, blends academic rigor with journalistic storytelling to reach scholars, policymakers and the general public.

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Jan 29 • 3:36 PM EST • Politics • sfs.georgetown.edu
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Science Politics communicates science, tech and policy to a broad audience | School of Foreign Service

Science Politics, a new STIA publication, blends academic rigor with journalistic storytelling to reach scholars, policymakers and the general public.

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Jan 29 • 3:36 PM EST • Science • sfs.georgetown.edu
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Google disrupts IPIDEA residential proxy networks fueled by malware

IPIDEA, one of the largest residential proxy networks used by threat actors, was disrupted earlier this week by Google Threat Intelligence Group (GTIG) in collaboration with industry partners.

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Jan 29 • 2:29 PM EST • Technology • bleepingcomputer.com
A Business Owner Is Getting Divorced, Asks Dave Ramsey If He'll Lose The Business. 'She's Actually 98% Owner Of The Business And I'm 2% Owner'

A Texas business owner is facing a painful split, not just from his wife, but potentially from the company he helped build. He says he’s done almost all the work since 2021, but legally owns just 2% of the business. His wife holds the other 98%, a structure their accountant recommended for tax reasons. Divorce And Ownership Don't Match Up Manny, who shared his story on the “EntreLeadership” podcast recently with personal finance expert Dave Ramsey, said, “She’s actually 98% owner of the business

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Jan 29 • 1:31 PM EST • Business • finance.yahoo.com
cbdMD Strengthens Regulatory Science Platform to Support Emerging Regulatory Cannabinoid Evaluation Pathways

cbdMD, Inc. (NYSE American: YCBD), a leading innovator in hemp-derived wellness products, today announced a strategic initiative to integrate and expand its regulatory science, safety, and intellectual property assets to establish a differentiated cannabinoid compliance and evidence platform aligned with evolving federal healthcare evaluation frameworks, including emerging CMS and CMMI innovation initiatives.

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Jan 29 • 12:53 PM EST • Science • finance.yahoo.com
Senate blocks massive funding bill, with critical talks underway to avoid government shutdown

Bipartisan senators blocked a massive spending bill Thursday, as eleventh-hour talks continue to avoid a costly partial government shutdown that looms at the week’s end.

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Jan 29 • 12:22 PM EST • Politics • cnn.com
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On Her 72nd Birthday, Oprah Shares Why She Loves This 1 Workout

This type of movement is essential for healthy aging, she says.

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Jan 29 • 11:33 AM EST • Health • today.com
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The Next Era of Sports and Entertainment Technology: Info-Tech Research Group Partners With SEAT to Advance Innovation and Digital Excellence Across Industry

Info-Tech Research Group, a global leader in IT research and advisory, has announced a new partnership with SEAT, the Sports & Entertainment Alliance in Technology, to empower technology, marketing, and operations executives across the global sports and entertainment industry. The collaboration will bring Info-Tech's expertise to SEAT's influential community of North American entertainment venues, sports teams, and league leaders who are driving innovation in fan engagement, digital experience,

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Jan 29 • 11:06 AM EST • Entertainment • finance.yahoo.com
Will the government shut down this weekend? Latest updates

The country is facing a partial shutdown this weekend if lawmakers can't find a deal over a DHS funding measure.

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Jan 29 • 10:41 AM EST • Politics • usatoday.com
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The Science Behind Rare Gulf Effect Snow Potential In Tampa Bay

Could parts of Tampa Bay, Florida experience Gulf effect snow this weekend? Our expert explains.

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Jan 29 • 10:24 AM EST • Science • forbes.com
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“Entertainment Weekly” reveals Breaking Big honorees for 2026 SCAD TVfest

Sean Kaufman ("For All Mankind"), Michelle Randolph ("Landman"), Amirah J ("High Potential"), and Taylor Dearden ("The Pitt") will speak on a panel moderated by EW's Gerrad Hall.

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Jan 29 • 10:00 AM EST • Entertainment • yahoo.com
Exclusive: UK’s Schroders discussed private capital tie-ups in growth push, sources say

Schroders has held ​high-level talks about potential tie-ups to speed up the growth of its private capital business, three people ‌familiar with the matter told Reuters, as the 222-year-old British asset manager seeks to gain scale.

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Jan 29 • 9:04 AM EST • Business • reuters.com
DOH-Lee Issues Blue Green Algae Health Alert for Caloosahatchee River-Sebastian Canal - Florida Department of Health in Lee County

Contact:

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Jan 29 • 8:41 AM EST • Health • lee.floridahealth.gov
Top 100 transfer portal players for 2026: Destinations and impact projections

There's a ton of talent on the move, and it has the potential to shift the balance of power across the college football landscape

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Jan 29 • 8:37 AM EST • Sports • cbssports.com
Abortion Pill Safety Decisions by FDA Were Science-Based, New JAMA Study Finds — The Monitor

A new study found the FDA’s abortion pill decisions followed scientific evidence, as misleading claims about the drug’s safety continue to shape public understanding. And Google removed some health AI summaries after a Guardian investigation reported that AI-generated summaries contained false and potentially dangerous health information.

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Jan 29 • 8:00 AM EST • Science • kff.org
Rice Business launches new graduate healthcare certificate program to advance leadership in dynamic industry

Rice’s Jesse H. Jones Graduate School of Business today announced the launch of its Graduate Certificate in Healthcare Management program, a 10-month, credit-bearing professional credential designed for current and aspiring leaders seeking deep expertise in the business of healthcare. Situated at the crossroads of Houston’s renowned Texas Medical Center and global healthcare innovation, the program blends rigorous business fundamentals with healthcare-specific strategy, operations and management.

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Jan 29 • 7:00 AM EST • Business • news.rice.edu
Civic Science Media: Reimagining How We Communicate Science

A 2022 award winner of the National Academies’ Eric and Wendy Schmidt Awards for Excellence in Science Communications, J.D. Allen discusses his civic science media framework, his nuclear energy broadcast initiative, and how incorporating community engagement and solutions-focused journalism improves science storytelling.

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Jan 29 • 7:00 AM EST • Science • nationalacademies.org
Trump directs team to beef up his public schedule to combat questions about his stamina

Vague descriptions of presidential signing ceremonies, policy meetings and industry executive sit downs — mostly behind closed doors — began peppering President Donald Trump’s public schedule at the end of last year.

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Jan 29 • 6:00 AM EST • Politics • cnn.com
The Memo: Minneapolis trauma shifts the politics of immigration

Public outrage over the killings of Alex Pretti and Renee Good in Minneapolis is scrambling the politics of immigration. The Trump administration’s initial reaction to the Pretti killing, in partic…

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Jan 29 • 6:00 AM EST • Politics • thehill.com
TPS Expiration Under Trump Hits Haitian Workers in Critical Health Care Roles

Haitians are a vital source of employees for health care providers in many communities. The Trump administration is removing legal status next month for 330,000 of them.

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Jan 29 • 5:00 AM EST • Health • nytimes.com
Captain 'essential' Fernandes - FPL team of the week

With a juicy run of fixtures coming up and his team in top attacking form, Bruno Fernandes is an easy captain choice this week, writes Thomas Woods.

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Jan 29 • 4:47 AM EST • Sports • bbc.com
Galaxy Buds 4 and Buds 4 Pro leak brings good news for potential buyers

Samsung may not increase the price of the Galaxy Buds 4 and the Galaxy Buds 4 Pro compared to their predecessors, at least in Europe.

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Jan 29 • 12:51 AM EST • Technology • sammobile.com
A potentially habitable new planet has been discovered 146 light-years away – but it may be -70C

The Earth-size planet HD 137010 b has a ‘50% chance of residing in the habitable zone’ of its sun-like star, scientists say

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Jan 29 • 12:00 AM EST • Science • theguardian.com
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Talks intensify to avert shutdown as White House and Senate leaders eye last-ditch deal

The White House and Senate leaders are moving closer to a deal to avert a government shutdown but are seeking to resolve final sticking points in eleventh-hour negotiations ahead of Friday’s deadline, according to several sources familiar with the talks.

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Jan 28 • 11:21 PM EST • Politics • cnn.com
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Avalanche Offense Goes Cold in 5-2 Loss to Senators

It wasn't a very pretty night for the Colorado Avalanche, as their offense completely dried up against the Ottawa Senators and end up losing 5-2

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Jan 28 • 11:08 PM EST • Sports • thehockeynews.com
Trump has 'dementia', is 'obsessed,' Ilhan Omar says following attack

The Minnesota Democrat’s comments come in the wake of an attack on her Jan. 27 where a man sprayed her with an unknown substance.

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Jan 28 • 8:49 PM EST • Politics • usatoday.com
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.

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Jan 28 • 8:08 PM EST • Politics • nbcnews.com
High-Signal Publisher
Halide co-founder Sebastiaan de With is joining Apple’s design team

A new role for de With.

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Jan 28 • 6:59 PM EST • Technology • theverge.com
Floods push crocodiles into Mozambican towns as health concerns rise

Floods in Mozambique have led to a new threat. Crocodiles are appearing in submerged towns and have killed at least three people. Torrential rains and severe flooding over the past month have killed more than 100 people in Mozambique, South Africa, and Zimbabwe. Thousands of homes have been destr...

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Jan 28 • 6:28 PM EST • Health • wral.com
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Las Vegas Raiders 2026 release & trade candidates

Las Vegas Raiders Potential Cut or Trade Candidates in 2026

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Jan 28 • 5:39 PM EST • Sports • silverandblackpride.com
'Halide' Co-Founder Sebastiaan de With Joins Apple's Design Team

Sebastiaan de With, co-founder of the popular iPhone camera app Halide, today announced that he has joined the Human Interface Design team at Apple. "So excited to work with the very best team in the world on my favorite products," he said. This marks a return to Apple for de With, who previously worked on things such as iCloud, MobileMe, and the Find My app. He has also completed design work for other companies, such as Sony, Mozilla, Oracle, HP, and EA, in the past.

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Jan 28 • 5:37 PM EST • Technology • macrumors.com
The Alliance for Primary Health Care in the Americas marks two years and formally welcomes Bolivia and Uruguay as members

PAHO, the World Bank, and the IDB initiative has driven health system transformation and aligned more than one billion dollars in investments across five countries. Brazil expressed its support, signing a letter of intent.Rio de Janeiro, 28 January 2026 — The Alliance for Primary Health Care (PHC) in the Americas, a joint initiative of the Pan American Health Organization (PAHO), the World Bank (WB), and the Inter-American Development Bank (IDB), is celebrating its second anniversary with achievements in transforming health systems across the region.

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Jan 28 • 4:30 PM EST • Health • paho.org
Madina Ismail joins Essentia Health-Fargo to provide hospitalist care

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

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Jan 28 • 4:01 PM EST • Health • essentiahealth.org
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Internal review contradicts Trump administration on Alex Pretti shooting : The NPR Politics Podcast

An initial internal review into federal immigration officers’ fatal shooting of Alex Pretti in Minneapolis last weekend contradicts the description of the incident by Homeland Security Secretary Kristi Noem. We discuss President Trump’s shifting messages on immigration policy and how his administration’s efforts to restrict legal immigration pathways are changing the political environment. This episode: senior White House correspondent Tamara Keith, immigration policy correspondent Ximena Bustillo, and senior political editor and correspondent Domenico Montanaro.This podcast was produced by Bria Suggs and Lexie Schapitl, and edited by Rachel Baye.Our executive producer is Muthoni Muturi.Listen to every episode of the NPR Politics Podcast sponsor-free, unlock access to bonus episodes with more from the NPR Politics team, and support public media when you sign up for The NPR Politics Podcast+ at plus.npr.org/politics.

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Jan 28 • 3:34 PM EST • Politics • npr.org
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What we're learning about the man arrested in the attack on Rep. Ilhan Omar

Anthony Kazmierczak hadn't been formally charged or scheduled for an initial court appearance as of Wednesday morning.

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Jan 28 • 3:32 PM EST • Politics • pbs.org
Viral Moltbot AI assistant raises concerns over data security

Security researchers are warning of insecure deployments in enterprise environments of the Moltbot (formerly Clawdbot) AI assistant, which can lead to leaking API keys, OAuth tokens, conversation history, and credentials.

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Jan 28 • 3:26 PM EST • Technology • bleepingcomputer.com
Accelerating Science: A Blueprint for a Renewed National Quantum Initiative

Sustained U.S. leadership in quantum information science is critical to ensuring that breakthroughs in computing, sensing, networking and materials translate into secure technologies and industries, a skilled domestic workforce and long-term strategic advantage. To secure this future, Congress must act and reauthorize the National Quantum Initiative (NQI).

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Jan 28 • 1:17 PM EST • Science • blogs.nvidia.com
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Disney Entertainment Television Unveils 2026 Directing & Writing Program Participants

EXCLUSIVE: Disney Entertainment Television has chosen its participants for the 2025-26 Directing and Writing Programs, talent development initiatives which connect emerging writers and directors with opportunities across DET’s scripted and unscripted television slate. “This year’s cohorts reflect the bold, original voices that will help shape the next era of television,” said Tim McNeal, senior vice …

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Jan 28 • 1:00 PM EST • Entertainment • yahoo.com
Trump’s immigration approach is gumming up the courts, frustrating his DOJ and judges

The Justice Department and federal courts are struggling to keep up with the exponential increase in federal court cases of immigrants in custody who are challenging their detentions, another result of the Trump administration’s aggressive immigration enforcement policies across the country.

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Jan 28 • 12:40 PM EST • Politics • cnn.com
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Dispatch is censored on Nintendo Switch 2 and Switch

Although there was initially speculation about Dispatch being censored on Nintendo Switch 2 and Switch, it’s now confirmed that this is indeed the case. In the PC and PS5 versions, the game featured a “Visual Censorship” setting. This is gone on Nintendo Switch 2 and Switch, so you’re always getting the censored experience. All scenes are in tact, but there...

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Jan 28 • 12:14 PM EST • Technology • nintendoeverything.com
Healthy Returns: Botox, Trulicity among 15 drugs added to Medicare price negotiations

The Trump administration kicked off another round of Medicare drug price negotiations, while Kaiser Permanente agrees to pay a historic settlement.

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Jan 28 • 12:07 PM EST • Health • cnbc.com
Manu Ginobili among backers of new planned sports performance project in South Florida

Manu Ginobili is investing in South Florida’s potential with a new venture. The former San Antonio Spurs star is part of a group building the Sports Performance Hub in Homestead, Florida. It’ll be a next-generation sports, education and community development project. It will feature a 10,000-seat stadium for Miami FC, sports training facilities, a basketball facility, a boarding school and more. Groundbreaking is set for March, with plans to open in 2028. Ginobili, along with partners like Riccardo Silva and Juan Sebastian Veron, aims to connect sports training with academics. They believe Miami’s multicultural environment makes it an ideal location.

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Jan 28 • 11:36 AM EST • Sports • nbcmiami.com
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PlayStation Plus Monthly Games lineup for February 2026 announced

Sony Interactive Entertainment has announced the February 2026 Monthly Games lineup for PlayStation Plus Essential subscribers. All titles will be available from February 3, 2026 until March 2, 202…

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Jan 28 • 11:33 AM EST • Technology • gematsu.com
Here's what to know about the $50 billion states are getting for rural health

To satisfy Republicans opposed to last summer's cuts to health care, the Trump administration launched an ambitious 5-year initiative known as the Rural Health Transformation Program.

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Jan 28 • 10:47 AM EST • Health • npr.org
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The Unsettling Experience of Reporting on Trump’s Health

Chatting with Intelligencer’s Ben Terris about presidential hand bruises and White House sycophancy.

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Jan 28 • 9:31 AM EST • Health • nymag.com
Apple's 'Creator Studio' App Bundle Now Available for $12.99 Per Month

Apple today launched the new Creator Studio that was initially unveiled two weeks ago, providing content creators with access to six Apple apps for $12.99 per month or $129 per year. Creator Studio includes Final Cut Pro, Logic Pro, and Pixelmator Pro on Mac and iPad, along with Motion, Compressor, and MainStage on the Mac. Final Cut Pro is Apple's video editing software, Logic Pro is for audio editing and creation, and Pixelmator Pro is an image editing app that Apple purchased in 2024.

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Jan 28 • 9:30 AM EST • Technology • macrumors.com
As college sports look more professional, sponsors turn to high school

High school sports, some marketers are finding, can provide brands with national reach and inroads with potential future star athletes.

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Jan 28 • 9:27 AM EST • Sports • marketingbrew.com
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As More Founders Aim To Build Billion-Dollar, One-Person Businesses, New Research Points To High-Potential Niches

A new report points to areas where it is possible for solo founders to grow to $1 billion in revenue using AI, blockchain and a global team of freelancers.

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Jan 28 • 9:17 AM EST • Business • forbes.com
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How to Communicate About Quantum Technology — Science-Backed Tips For Talking Quantum

Research shows that most people know little about quantum technology, making clear, balanced communication essential.

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Jan 28 • 7:39 AM EST • Science • thequantuminsider.com
Leaker makes unlikely claim about improved iPhone 18 telephoto lens

A leaker better known for posting about Android smartphones has made a claim potentially pointing to improved telephoto performance in...

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Jan 28 • 6:56 AM EST • Technology • 9to5mac.com
UCA to launch Innovation Campus - Talk Business & Politics

The University of Central Arkansas Board of Trustees voted Tuesday (Jan. 27) to move forward with the development of a new “Innovation Campus,” an interdisciplinary initiative designed to strengthen workforce...

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Jan 28 • 6:29 AM EST • Business • talkbusiness.net
UCA to launch Innovation Campus - Talk Business & Politics

The University of Central Arkansas Board of Trustees voted Tuesday (Jan. 27) to move forward with the development of a new “Innovation Campus,” an interdisciplinary initiative designed to strengthen workforce...

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Jan 28 • 6:29 AM EST • Politics • talkbusiness.net
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.

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Jan 28 • 6:00 AM EST • Politics • cnn.com
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Investment and Statecraft: The International Politics of Sovereign Wealth Funds - Georgetown Journal of International Affairs

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

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Jan 28 • 6:00 AM EST • Politics • gjia.georgetown.edu
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Japan Business Lobby Warns of Tariff Impact as Wage Talks Start

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