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Eagles' OC candidate is now on the Giants coaching radar

ESPN's Peter Schrager reports that the New York Giants will discuss their offensive coordinator vacancy with Colts OC Jim Bob Cooter

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Jan 29 • 2:02 PM EST • Sports • theeagleswire.usatoday.com
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2026 Grammy Awards performers: Justin Bieber, Lady Gaga, Addison Rae and Olivia Dean among star-studded lineup

Music's biggest night is fast approaching — and the roster of scheduled Grammy performances continues to grow.

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Jan 29 • 1:46 PM EST • Entertainment • yahoo.com
Browns Myles Garrett takes home yet another award

Garrett is the first player in NFL history to be The Sporting News’ DPOY for 3 consecutive years.

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Jan 29 • 1:45 PM EST • Sports • dawgsbynature.com
Live Seahawks vs. Patriots Q&A with SB Nation’s Doug Farrar

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

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Jan 29 • 1:00 PM EST • Sports • fieldgulls.com
Maingear's latest retro gaming desktop takes you back to the Quake era

The Retro98 should handle today's AAA games with ease.

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Jan 29 • 12:49 PM EST • Technology • engadget.com
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.

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Jan 29 • 12:05 PM EST • Entertainment • yahoo.com
Jason Kelce lauds Patriots' underappreciated defense before Super Bowl

As Eagles great Jason Kelce sees it, the Patriots' defense deserves more credit for their work in the 2025 NFL playoffs.

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Jan 29 • 12:03 PM EST • Sports • patriotswire.usatoday.com
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Oilers Expect Different Challenge Against Sharks Than Ducks
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Jan 29 • 12:00 PM EST • Sports • thehockeynews.com
Meta Stock Jumps After AI 'Book of Business' Hits $12.5B

META Shares Climb on Strong Advertising and AI Growth

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Jan 29 • 11:13 AM EST • Business • finance.yahoo.com
Panthers season in review: The run defense

The Carolina Panthers run defense took a huge step forward, but there’s still a lot of room for improvement.

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Jan 29 • 11:00 AM EST • Sports • catscratchreader.com
“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
Pre-Snap Reads 1/29: The Seahawks are for real

In the words of Linda Ronstadt: for a long, long time.

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Jan 29 • 9:00 AM EST • Sports • fieldgulls.com
The Nex Playground is everything Xbox Kinect wanted to be

The Nex Playground brings motion-tracked games to the entire family. Consider it the best of the Xbox Kinect in a tiny box.

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Jan 29 • 8:30 AM EST • Technology • engadget.com
Why Music Catalogues Are Becoming The Hottest Asset In Entertainment

Music catalogs are emerging as stable, long-term assets, attracting investors with consistent returns and cultural value.

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Jan 29 • 8:15 AM EST • Entertainment • finance.yahoo.com
AppLovin's ad tech business could steal Amazon's lunch

Wall Street remains wary of the black box behind AppLovin's AI, but early data suggest its e-commerce pivot is already eating into Amazon's territory.

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Jan 29 • 8:00 AM EST • Business • finance.yahoo.com
Pittsburgh Steelers Coach Mike McCarthy's Ring Signifies Importance of Defense
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Jan 29 • 8:00 AM EST • Sports • roundtable.io
Jake Bird’s adjustments could give him a second chance

The right-hander was awful for the Yankees, both in MLB and Triple-A, but has tons of room to improve.

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Jan 29 • 8:00 AM EST • Sports • pinstripealley.com
Spring Health Set to Acquire Alma to Enhance Existing Care Infrastructure

Global mental health benefits platform Spring Health has entered into an agreement to acquire Alma, a digital platform that helps providers streamline

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Jan 29 • 8:00 AM EST • Health • bhbusiness.com
Guardians News and Notes

The equipment truck departs from Progressive Field today.

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Jan 29 • 8:00 AM EST • Sports • coveringthecorner.com
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.

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Jan 29 • 8:00 AM EST • Business • bloomberg.com
Several propane tanks catch fire outside of business in Philadelphia's Roxborough neighborhood

Several propane tanks caught fire outside of a business in Philadelphia's Roxborough neighborhood on Thursday morning.

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Jan 29 • 7:42 AM EST • Business • 6abc.com
Campaign over, Wu has to take on the messy work of running City Hall

Right on schedule, the adrenaline jolt of the campaign trail has been replaced by the much more challenging day-to-day grunt work of running city government.

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Jan 29 • 7:15 AM EST • Politics • bostonglobe.com
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Game Preview: Chicago Blackhawks @ Pittsburgh Penguins 1/29/2026

Who: Chicago Blackhawks (21-23-9, 51 points, 6th place Central Division) @ Pittsburgh Penguins (26-14-11, 63 points, 2nd place Metropolitan Division) When: 7:00 p.m. eastern How to Watch: Locally broadcast on Sportsnet Pittsburgh and CHSN in the local markets, streaming on ESPN+ Pens’ Path Ahead: It’s a week-long sprint to the Olympic break finish line for the Pens. […]

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Jan 29 • 7:00 AM EST • Sports • pensburgh.com
N-able Ushers in New Era of Business Resilience Fueled by AI

BURLINGTON, Mass., January 29, 2026--N-able, Inc. (NYSE: NABL), a global software company delivering an end-to-end cyber resilience platform, today announced enhanced AI capabilities across its platform to help organizations operate securely, efficiently, and resiliently as AI reshapes both cyberthreats and IT complexity.

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Jan 29 • 6:00 AM EST • Business • finance.yahoo.com
Lions may have Georgia Tech QB on NFL draft radar

The Detroit Lions reportedly talked with Georgia Tech quarterback Haynes King at the Shrine Bowl.

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Jan 29 • 5:47 AM EST • Sports • lionswire.usatoday.com
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.

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Jan 29 • 5:13 AM EST • Business • bloomberg.com
Mike McCarthy makes bold statement about Steelers’ playcalling

Pittsburgh Steelers head coach Mike McCarthy didn’t mince words regarding the possibility of him calling plays on offense.

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Jan 29 • 5:09 AM EST • Sports • steelerswire.usatoday.com
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Bank of America supporting weVENTURE Women’s Business Center

As a Neighborhood Builder, the Florida Tech-based weVENTURE Women’s Business Center is awarded a $50,000 grant over two years.

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Jan 29 • 5:01 AM EST • Business • floridatoday.com
Americans Are More Worried About Health Care Costs Than Gas or Groceries

The price of health care tops the US public’s long list of economic worries ahead of the midterm elections, according to new polling data, as “affordability” has become a buzzword championed by politicians on both sides of the aisle.

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Jan 29 • 5:00 AM EST • Health • bloomberg.com
Full UFC 325 press conference faceoffs
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Jan 29 • 3:18 AM EST • Sports • mmajunkie.usatoday.com
How an inspiring home video launched a main event fighter

How Francesca Hennessy - who headlines on BBC Two on Saturday - went from weight and dyslexia struggles to viral fame and in sight of a world-title shot.

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Jan 29 • 2:29 AM EST • Sports • bbc.com
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Throwback Thursday: Notre Dame Fighting Irish Football VS Michigan, 1992

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

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Jan 29 • 1:51 AM EST • Sports • onefootdown.com
Müller Lifts Boston Past New York In Shootout

Alina Müller’s pair of shootout goals helped the Fleet edge the Sirens and extend its lead atop the standings.

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Jan 29 • 1:14 AM EST • Sports • thehockeynews.com
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Xavier 68-86 Seton Hall: What was that?

My first job in high school was cleaning bathrooms at a state park campground. Camping is a foul enough activity, but what people did in those bathrooms defies explanation. I say this to let you know I have stared into the dark heart of a man experiencing a bowel emergency and apparently the desire to […]

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Jan 29 • 12:55 AM EST • Sports • bannersontheparkway.com
Nice dish from De'Aaron Fox
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Jan 29 • 12:07 AM EST • Sports • sports.yahoo.com
Braves News: Starting pitching rumors, Sean Murphy injury, more

Atlanta Braves news and notes from Wednesday

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Jan 29 • 12:01 AM EST • Sports • batterypower.com
Betts, No. 2 UCLA too much down low for Illinois

Illinois couldn’t mount a big comeback.

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Jan 28 • 11:55 PM EST • Sports • thechampaignroom.com
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
Palat scores, assists in Islanders' 5-2 win over Rangers

Ondrej Palat scored the opening goal and added an assist in his debut with the New York Islanders, who defeated their cross-town rival New York Rangers 5-2 on Wednesday night. Simon Holmstrom had a goal and two assists, David Rittich made 14 saves, and the Islanders won their second straight game. Mathew Barzal, Jean-Gabriel Pageau and Emil Heineman also scored.

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Jan 28 • 10:44 PM EST • Sports • sports.yahoo.com
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What Did Houston Texans RB’s Social Media Post Mean?
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Jan 28 • 10:30 PM EST • Sports • roundtable.io
Titans reportedly to hire Greg Lewis as wide receivers coach

The Tennessee Titans have reportedly found their new wide receivers coach.

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Jan 28 • 10:22 PM EST • Sports • titanswire.usatoday.com
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Ottawa Senators vs. Colorado Avalanche
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Jan 28 • 10:18 PM EST • Sports • sports.yahoo.com
Islanders 5, Rangers 2: Total domination in Palat, Soucy’s debut

Palat gets the first star in his debut, and Holmstrom, Barzal, Pageau, and Heineman round out the scoring in a big win.

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Jan 28 • 10:06 PM EST • Sports • lighthousehockey.com
Texas blows early lead in 88-82 loss to Auburn

More of the same from these Longhorns.

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Jan 28 • 9:44 PM EST • Sports • burntorangenation.com
Valeri Nichushkin with a Goal vs. Ottawa Senators
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Jan 28 • 9:44 PM EST • Sports • sports.yahoo.com
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LeBron James scores only 11 points in what could be his final game in Cleveland, as Cavs throttle Lakers

It wasn't LeBron's night, although Bronny James scored eight points down the stretch of the blowout.

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Jan 28 • 9:34 PM EST • Sports • sports.yahoo.com
Boxer Gervonta Davis in police custody after arrest
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Jan 28 • 8:32 PM EST • Sports • usatoday.com
The Most Underrated and Disrespected Player on the Chicago Cubs
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Jan 28 • 8:30 PM EST • Sports • roundtable.io
Chicago Bears’ Offensive Player of the Year is Caleb Williams

The Bears name Caleb Williams their Offensive Player of the Year. More here from @thechicagosares.

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Jan 28 • 8:00 PM EST • Sports • windycitygridiron.com
US ski resorts devastated as worsening crisis impacts business: 'It's been really slow'

"You lose people, employees."

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Jan 28 • 7:45 PM EST • Business • yahoo.com
Ohio State football adds experienced offensive lineman from portal

Ohio State football is not done with the transfer portal. The Buckeyes added a veteran offensive lineman on Wednesday.

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Jan 28 • 7:35 PM EST • Sports • buckeyeswire.usatoday.com
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Bill Belichick snub: Here are the 23 Hall of Fame voters who have confirmed they voted for him — and the 1 'no' vote
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Jan 28 • 6:45 PM EST • Sports • sports.yahoo.com
Bill Belichick snub: Here are the 22 Hall of Fame voters who have confirmed they voted for him — and the 1 'no' vote
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Jan 28 • 6:45 PM EST • Sports • sports.yahoo.com
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Where The Cubs Stand On A Pete Crow-Armstrong Extension
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Jan 28 • 6:33 PM EST • Sports • roundtable.io
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Carmen Bricillo, Shea Tierney joining Brian Daboll with Tennessee Titans

Shea Tierney, Carmen Bricillo reportedly heading to Tennessee.

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Jan 28 • 6:31 PM EST • Sports • bigblueview.com
How to watch: Tennessee at Georgia

Another road test for Tennessee.

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Jan 28 • 6:10 PM EST • Sports • rockytoptalk.com
Alexander Volkanovski shuts down Jean Silva title talk

Not yet, “Lord.” Ultimate Fighting Championship (UFC) Brazilian fan-favorite Jean Silva scored the biggest win of his career at UFC 324 last weekend (Sat., Jan. 24, 2026), outworking the ultra-durable Arnold Allen to a unanimous decision victory inside T-Mobile Arena in Las Vegas, Nevada. The win immediately launched Silva into the division’s elite and title […]

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Jan 28 • 5:49 PM EST • Sports • mmamania.com
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
Music notes: Taylor Swift, Ellie Goulding and more

The video for Taylor Swift's "Wildest Dreams" — the fifth single from her album 1989 — has become her latest to rack up 1 billion views on YouTube. It's her sixth video to hit that milestone, following “Blank Space,” “Shake It Off,” “You Belong With Me,” “Bad Blood” and “Look What You Made Me Do.”

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Jan 28 • 5:30 PM EST • Entertainment • yahoo.com
Champions League results: Arsenal, Liverpool, Manchester City among teams into round of 16; Benfica score last-gasp goal for play-offs berth
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Jan 28 • 5:07 PM EST • Sports • sports.yahoo.com
Tyler Austin on transitioning back to MLB
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Jan 28 • 5:00 PM EST • Sports • sports.yahoo.com
Browns hire George Warhop as OL coach
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Jan 28 • 4:42 PM EST • Sports • nbcsports.com
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Meta Says Revenue to Beat Estimates, Supporting AI Spending

Meta Platforms Inc.’s better-than-expected sales outlook helped ease Wall Street concerns about plans for unprecedented spending on artificial intelligence this year.

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Jan 28 • 4:07 PM EST • Business • bloomberg.com
Champions League live updates, scores: Arsenal, Liverpool, Manchester City cruising; Barcelona, Chelsea behind at halftime of Matchday 8
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Jan 28 • 3:58 PM EST • Sports • sports.yahoo.com
Tom Brady, Robert Kraft respond on Bill Belichick's reported HOF snub: 'If he's not a first-ballot Hall of Famer, there's really no coach that should ever be'
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Jan 28 • 3:26 PM EST • Sports • sports.yahoo.com
2026 Fantasy Football Dynasty Rookie QB Outlook
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Jan 28 • 2:32 PM EST • Sports • sports.yahoo.com
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
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.

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Jan 28 • 1:00 PM EST • Technology • engadget.com
Giannis Antetokounmpo trade rumors: Bucks listening on deals for star

Giannis Antetokounmpo has indicated he's ready to move on from the Bucks, and Milwaukee is reportedly willing to listen to offers. Here's the latest.

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Jan 28 • 12:29 PM EST • Sports • usatoday.com
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Browns defensive coordinator Jim Schwartz reportedly wants 'out' after being passed over for head coaching job
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Jan 28 • 12:28 PM EST • Sports • sports.yahoo.com
Report: Steelers to hire Adam Henry as receivers coach
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Jan 28 • 12:20 PM EST • Sports • nbcsports.com
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Patrick Reed leaving LIV Golf, will return to PGA Tour this year

The 2018 Masters champion follows Brooks Koepka back to the PGA Tour.

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Jan 28 • 12:09 PM EST • Sports • sports.yahoo.com
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PE-backed CT masonry business acquires New England manufacturer

US Masonry and Building Products said it purchased York Flashings LLC, which manufactures products designed to seal joints and channel moisture out of building walls to help prevent water damage.

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Jan 28 • 11:41 AM EST • Business • hartfordbusiness.com
Super Bowl 2026 TV deals: The best sales ahead of kickoff

From sub-$500 sets to high-end OLEDs, you can save on a new TV ahead of this year's big game.

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Jan 28 • 11:00 AM EST • Technology • engadget.com
This 'perfect' Amazon Fire TV is on sale for under $200 right now — plus 5 more can't-miss TV deals

You don't need to spend a fortune to upgrade your TV.

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Jan 28 • 10:51 AM EST • Technology • ca.style.yahoo.com
Business groups back freight brokers in Supreme Court trucking liability fight

U.S. Chamber of Commerce, National Retail Federation among those supporting C.H. Robinson in the brief. The post Business groups back freight brokers in Supreme Court trucking liability fight appeared first on FreightWaves.

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Jan 28 • 10:51 AM EST • Business • finance.yahoo.com
Browns reportedly hire former Ravens OC Todd Monken as head coach
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Jan 28 • 10:49 AM EST • Sports • sports.yahoo.com
Is Wyoming hoops stuck in purgatory within modern college basketball?

Every season for a reasonably successful mid-major university begins in a similar fashion. They schedule a few in-state cupcakes as the season and home openers before, if they are lucky enough, participating in an ever-declining MTE tournament during the week of Thanksgiving. Throw in a dash of high-major money labeled as “buy games” to help […]

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Jan 28 • 10:00 AM EST • Sports • mwcconnection.com
Patriots LT Will Campbell trending up ahead of Super Bowl

The Patriots’ left tackle had his best game of the postseason in the AFC Championship Game.

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Jan 28 • 9:10 AM EST • Sports • patspulpit.com
Snap is spinning off its AR glasses into a separate business

Snap’s augmented reality glasses business will now be its own entity, with the company establishing Specs Inc. as a wholly-owned subsidiary.

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Jan 28 • 9:00 AM EST • Business • engadget.com
REPORT: New York Yankees Discussing Move for Former MVP
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Jan 28 • 8:52 AM EST • Sports • roundtable.io
Our first look at Google's Android for PC interface leaks in a bug report

We may have our first look at Android for desktop.

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Jan 28 • 8:30 AM EST • Technology • engadget.com
Apple Creator Studio is now available for $13 per month: What's included and what it means for creators

Pay monthly or $129 annually for the new subscription bundle that includes a number of Apple's creative apps.

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Jan 28 • 8:00 AM EST • Technology • engadget.com
18 free agents with connections to Lions coach Mike Kafka

Taking a look at the 2026 NFL free agents who have connections to Detroit Lions coach Mike Kafka.

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Jan 28 • 8:00 AM EST • Sports • prideofdetroit.com
FreshBooks 2025 Ontario Small Business Snapshot: Owners More Reserved Than U.S. Peers, but Most Say Their Businesses Are Stable

Ontario survey data shows lower optimism and higher interest-rate sensitivity than U.S. counterparts, while operating conditions stay steady for most businessesTORONTO, Jan. 28, 2026 (GLOBE NEWSWIRE) -- Ontario small business owners are entering 2026 with a more reserved outlook than their U.S. counterparts, reflected in lower economic optimism, softer financial sentiment, and greater sensitivity to interest rates, according to a new Ontario snapshot from FreshBooks’ 2025 State of Small Business

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Jan 28 • 7:29 AM EST • Business • finance.yahoo.com
Vikings, other NFL teams not surprised Commanders hired Daronte Jones

Other NFL executives raved about new Commanders DC Daronte Jones.

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Jan 28 • 6:15 AM EST • Sports • commanderswire.usatoday.com
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Large Businesses Driving Crypto Payments Adoption, PayPal Survey Finds

About 4 in 10 U.S. merchants (40%) now accept crypto at checkout, PayPal and the National Cryptocurrency Association said, citing a Harris Poll survey. 50% ...

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Jan 28 • 6:02 AM EST • Business • ccn.com
Investment and Statecraft: The International Politics of Sovereign Wealth Funds - Georgetown Journal of International Affairs

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

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