SCROLL NEWS / DISCOVERY
Search headlines
Find the stories shaping the conversation.
Results for " Viola " 629 found 🔀 AI-powered Shuffle
Arizona files landmark criminal charges against prediction market Kalshi
Arizona’s attorney general has filed the first-ever criminal charges in the US against a major prediction market company, accusing Kalshi of running an illegal gambling operation in violation of state law.
Jasmine Crockett confirms member of her security team killed by Dallas police
She said the man, Diamon Robinson, had gone by a different name during his employment. Police said he had "multiple felony warrants" and a parole violation warrant.
University of Florida Penalizes GOP Group Over Antisemitism Accusations
After the University of Florida restricted the Republican organization from operating on campus, the group sued the university arguing its First Amendment rights were violated.
Judge blocks US government from cutting vaccine recommendations for children
The judge said Health Secretary Robert F. Kennedy Jr. likely violated federal procedures in revamping a key vaccine advisory committee.
Judge blocks RFK Jr. from scaling back childhood vaccine recommendations
A federal judge on Monday temporarily blocked federal health officials from cutting the number of vaccines recommended for every child, and said U.S. Health Secretary Robert F. Kennedy Jr. likely violated federal procedures in revamping a key vaccine advisory committee.
Nonprofits suing Worcester over police response to mental health calls
Federal lawsuit says the city is violating the Americans with Disabilities Act, and other laws.
Nonprofits suing Worcester over police response to mental health calls
Federal lawsuit says the city is violating the Americans with Disabilities Act, and other laws.
Caddo Parish restaurants cited for critical health violations
The Louisiana Department of Health revealed Caddo Parish restaurants with at least four critical health violations the week of Feb. 15-21.
Middletown health inspectors cite 10 spots for serious violations
Out of 47 inspections in January, Middletown health inspectors cited 10 eateries for priority item violations, the most serious type.
Jeffco Public Schools found in violation of Title IX
Civil rights office: Male students occupy 61 roster positions on girls’ sports teams The U.S. Department of Education announced Friday that the Jeffco Public Schools district violated Title IX by permitting male students to access female bathrooms and compete in girls sports. After a nearly nine-month investigation, the U.S. Department of Education’s Office for Civil […]
Inspectors find food buildup, too-warm sushi in Reno, Sparks restaurants
Eight restaurants were cited for violations during the period of Feb. 7-13. Here are the details.
El Paso health inspectors find dozens of violations at 2 businesses
El Paso health inspectors found 39 violations at Valley Supermarket and Phoenix Palace Restaurant in February inspections.
Trump Hotel restaurant flunked December health inspection because it was ‘affected by pests’
A city health inspector cited the restaurant at Trump's Chicago tower for a handful of violations in December.
Political Theater at the U.N. on Iran
Antidemocratic leaders hold center stage, and the Human Rights Council is controlled by nations with records of violations.
Greater Binghamton Health Center employee to pay more than $6k after falsifying timesheets
An employee with the Greater Binghamton Health Center was ordered to pay a fine after committing ethical violations on his timesheets.
Trump’s Hotel Restaurants Busted for Truly Gross Health Violations
It is not the first time a Trump-owned business has run into trouble with health inspectors.
Ed Martin, outspoken Justice Department lawyer, is formally accused of ethical violations
Ed Martin, an outspoken Trump administration official, is facing attorney discipline proceedings in Washington, DC, for a letter he sent to Georgetown Law about its diversity programs, the district’s professional conduct investigator announced on Tuesday.
Live Nation: Bipartisan Group of State AGs Vows to Fight on Despite DOJ’s Proposed Settlement with Entertainment Giant
Democratic and Republican state attorneys general said the proposed settlement between DOJ and Live Nation Entertainment (LYV) to resolve the company’s alleged antitrust violations is insufficient and they’ll continue the monopoly suit.
Trump said he ended a war in Africa. U.S. sanctions say otherwise.
The administration says Rwandan-backed militants violated a Trump-brokered peace accord within days.
Fargo pharmacist files federal lawsuit against Sanford Health, alleges she was fired to avoid paying millions in medical bills
A federal complaint alleges Sanford violated ERISA, FMLA, the ADA, and Title VII.
Police: Man arrested after trespassing at Wilton Manors business, loitering at private residence
A 53-year-old man was arrested Wednesday after he violated a no trespass order at a bar in Wilton Manors, authorities said.
Pueblo board violates Open Meetings Law
By Dennis Maes I recently witnessed two serious violations of the Colorado Open Meetings Law by the Pueblo Urban Renewal Authority (PURA) board. Both were brought to the attention of the board in an open meeting and entered on the record. What is astonishing is the intentional violations were initiated by Heather Graham, the mayor […]
Michigan attorney general sues Kalshi over alleged Lawful Sports Betting Act violation
Brookline bar ordered closed because of health code violations during recent inspection
Moreno Valley Mall could reopen soon after closure over health and safety code violations
Following a prolonged closure due to numerous health and safety code violations, the Moreno Valley Mall is gearing up for a reopening soon. The mall has been temporarily closed since Feb. 19 after …
Phillies' Johan Rojas facing suspension for violating drug program
Johan Rojas is facing an 80-game suspension after violating Major League Baseball’s Joint Drug Prevention and Treatment Program.
Inside the Actor Awards: Roars as 'Sinners' wins big, stars mingling and other off-camera moments
“Sinners” steals the show at the SAG Awards, and the biggest moments happen in the room, not just on TV. On Sunday, Viola Davis announced Michael B. Jordan as best male actor and the hall erupted....
Summit Co restaurant inspections show where February violations occurred
Here's a look at which Summit County restaurants had the most health code violations in February 2026.
Viola Davis stunned on Actor Awards stage as Michael B. Jordan pulls off shocking upset
Viola Davis shouted with stunned excitement as 'Sinners' star Michael B. Jordan pulled off a shocking upset over Timothée Chalamet at the 2026 Actor Awards.
Viola Davis receives prestigious Chairman\'s prize at NAACP Image Awards
Viola Davis has used her NAACP Image Awards moment to urge people to face hard truths and heal together. She accepted the NAACP Chairman’s Award on Saturday night and spoke
Sewage, roaches, unwashed hands: Jefferson County’s worst February 2026 restaurant health scores
These 17 food establishments scored 84 or below, with violations including roaches, sewage, expired food and unwashed hands.
How a family fought Title IX inequity in wrestling, and created change
The Gillers' story highlights cases – in their state and elsewhere in the USA – where parents see schools violating protections. Here's their advice.
30 more people indicted over anti-ICE protest at Minnesota church, Bondi says
Attorney General Pam Bondi announced federal charges Friday against 30 more people who are accused of civil rights violations in a January protest inside a Minnesota church where a pastor works for Immigration and Customs Enforcement.
Conference League | Fiorentina vs Jagiellonia Bialystok
Fiorentina welcome Polish side Jagiellonia Bialystok to the Stadio Artemio Franchi this evening, as the Viola look to book their place in the last 16 of the UEFA Conference League.The Viola won the fi...
Jontay Porter, amid lifetime ban from NBA for gambling, signs with USBL's Seattle SuperHawks
Porter has not played professional basketball since the NBA determined he violated league gambling rules
Company accused Virginia health inspector of 'bias' as nursing homes received serious violations
Internal communications obtained by CBS 6 revealed allegations that a Virginia healthcare facility inspector was biased against a particular group of nursing homes.
Sources: NCAA football committee considering 7-figure fines, head coach suspensions for transfer violations
The NCAA Football Oversight Committee coalesced around several concepts related to the calendar and transfers, including a proposal to impose stiff penalties on schools that accept transfers outside of the portal window.
New York sues video game developer Valve, says its 'loot boxes' are gambling
New York's attorney general sued Valve, a video game developer whose franchises include Counter-Strike, Team Fortress and Dota, accusing it of violating state gambling laws and threatening to addict children through its use of "loot boxes."
Stop taking free flights while out sick, union tells airline workers
The AFA chapter for Endeavor Air, a Delta subsidiary, told members it had seen more investigatory meetings for pass travel violations.
Meta's Addiction Trial Could Predict Problems for Sports Gambling
If social media is found to be addictive in a way that violates the law, will the same finding be made with sports betting? Sportico investigates.
7 Central Florida eateries shut down over health violations
Last week, seven more restaurants across Central Florida were forced to close after a visit from a health inspector, according to state records.
Lawmakers consider hiking fines for insurers who flaunt Georgia’s mental health parity law
Following recent fines for violations of mental health parity, Georgia advocates and lawmakers are pushing for stricter insurance compliance.
Supreme Court rules that Trump’s sweeping emergency tariffs are illegal
The Supreme Court on Friday ruled that President Donald Trump violated federal law when he unilaterally imposed sweeping tariffs across the globe, a striking loss for the White House on an issue that has been central to the president’s foreign policy and economic agenda.
How Mamdani's warning to city health clubs could help Long Island members
An executive order requires New York City heath clubs "to monitor, investigate, and enforce violations related to subscription tricks and traps."
Lucky’s Steakhouse in Davison closed by Health Department
A restaurant in Davison has been closed by the Genesee County Health Department due to food code violations and repeat violations.
Judge orders takeover of Arizona prison health care operations after years of violations
The decision on Thursday by U.S. District Judge Roslyn Silver came after her 2022 verdict that concluded Arizona had violated prisoners’ rights by providing inadequate care that led to suffering and preventable deaths.
Bay Area refinery to pay $10 million penalty for multiple health, safety violations
What is the 'equal time' rule that Colbert says led CBS to pull his Talarico interview?
Stephen Colbert's comments that network executives pulled his interview with Democratic Texas Senate candidate James Talarico over fears it would violate regulatory guidance from the Trump administration has prompted a conversation about the rules governing how media outlets treat political coverage.
Business Restructuring Review
In This Issue: The Year in Bankruptcy: 2025 A brief chronicle of the year's notable developments in corporate bankruptcy and restructuring, including business bankruptcy filings, significant court rulings, and legislative developments. [read more …] U.S. Bankruptcy Court Denies Chapter 15 Recognition of Maltese Liquidation Absent Evidence of Meaningful Activities Supporting Finding of COMI or Establishment in Malta In In re Geden Holdings, Ltd., No. 25-90138, 2025 WL 2484883 (Bankr. S.D. Tex. Aug. 28, 2025), stay pending appeal denied, No. 25-90138, 2026 WL 97993 (Bankr. S.D. Tex. Jan. 13, 2026), the U.S. Bankruptcy Court for the Southern District of Texas ruled that, for purposes of recognition under chapter 15 of the Bankruptcy Code, although a foreign debtor may have had its center of main interests ("COMI") or an establishment in Malta when a liquidation proceeding was commenced for it in a Maltese court in 2017, the absence of any meaningful activity by the debtor's liquidator from that time until the liquidator filed a chapter 15 petition in the United States more than five years later meant that the debtor had neither a COMI nor an establishment in Malta on the chapter 15 petition date. The court accordingly denied the petition for recognition. [read more …] The Ninth Circuit's Expansive Reading of "Financial Accommodations" that Cannot Be Assumed or Assigned in Bankruptcy It is generally well understood that agreements to extend credit or provide financing to a debtor cannot be assumed or assigned in bankruptcy. Even so, the provision of the Bankruptcy Code that precludes assumption or assignment—section 365(c)(2)—also extends to "financial accommodations," a term that is not defined in the Bankruptcy Code and has been the subject of relatively few bankruptcy and appellate court rulings. The U.S. Court of Appeals for the Ninth Circuit examined the meaning of the term in In re Svenhard's Swedish Bakery, 154 F.4th 1100 (9th Cir. 2025). The court of appeals ruled that a deeply discounted settlement of pension plan withdrawal liability is a "financial accommodation" that cannot be assumed or assigned, thereby extending the reach of section 365(c)(2) well beyond conventional lending arrangements. [read more …] Pennsylvania District Court Applies "Hypothetical Test" in Determining that Patent License Agreement Is Assignable in Bankruptcy In Crivella Holdings Ltd. v. Mesearch Media Technologies Ltd., No. 2:25-cv-333, 2025 WL 2443400 (W.D. Pa. Aug. 25, 2025), the U.S. District Court for the Western District of Pennsylvania affirmed a bankruptcy court ruling denying a software licensor's motion for relief from the automatic stay to terminate the license agreement. The court found the license was assumable in bankruptcy under the Third Circuit's hypothetical test as a result of language in the agreement stating that it could be assigned to a "successor in interest" of the debtor without the licensor's further consent, thereby overriding federal patent law's general prohibition against the assignment of patents. [read more …] New York Bankruptcy Court Denies Motion to Terminate Chapter 15 Recognition and Dismiss Chapter 15 Case In In re Oi S.A., No. 23-10193 (LGB), 2025 WL 2806591 (Bankr. S.D.N.Y. Oct. 1, 2025), the U.S. Bankruptcy Court for the Southern District of New York considered whether chapter 15 recognition of a debtor's Brazilian restructuring proceeding should be terminated and the case dismissed due to the debtors' financial deterioration and inability to satisfy its restructuring plan obligations after entry of the recognition order. The court denied the motion, concluding that recognition of the Brazilian proceeding and a court-approved restructuring plan for the debtors should not be terminated under section 1519(d) of the Bankruptcy Code—according to the court, the sole authority for revocation of chapter 15 recognition—because, among other things, the restructuring proceeding was still pending, the debtors might still need relief authorized under chapter 15, and the debtors' prospects for reorganizing under a hypothetical chapter 11 case were uncertain at best. It also found that no provision of the Bankruptcy Code authorizes the dismissal of a chapter 15 case. [read more …] Newsworthy Effective January 1, 2026, Jones Day welcomed Isel M. Perez (Miami), Andrew M. Butler (New York), Sid Pepels (Amsterdam), and Anna C. Bretting (Munich) to the partnership in the Business Restructuring & Reorganization Practice. Sid Pepels (Amsterdam) has been nominated for the Future Leader Award by the Global Restructuring Review, an organization that acknowledges and honors excellence within the global restructuring and insolvency sector. This award is designed to recognize exceptional contributions made by both individuals and firms in the field. The 2026 edition of Chambers UK recognized Ben Larkin (London) in the practice area Restructuring/Insolvency and Adam R. Brown (London) in the practice area Restructuring/Insolvency: Litigation. The 2026 edition of Chambers Asia-Pacific ranked Roger Dobson (Sydney) in the practice area Restructuring/Insolvency. An article written by Corinne Ball (New York) titled "Backstop Fees for Lenders in Chapter 11 Plans: Absent Market Test, Equality of Treatment Now Required in Fifth Circuit After 'ConvergeOne'" was published on November 12, 2025, in the New York Law Journal. An article written by Oliver S. Zeltner (Houston) titled "Delaware Bankruptcy Court: No Legal Authority for Chapter 11 Plan Gatekeeping Provision" was published on November 20, 2025, by Lexis Practical Guidance. An article written by Daniel J. Merrett (Atlanta) titled "First Impressions: Eleventh Circuit Rules that Annulment of Automatic Stay Does Not Violate U.S. Supreme Court's Prohibition of Nunc Pro Tunc Orders" was published on November 21, 2025, by Lexis Practical Guidance. An article written by Genna Ghaul (New York) titled "Iowa District Court: Avoidance Claims Cannot Be Encumbered by Pre-Bankruptcy Liens" was published on November 20, 2025, by Lexis Practical Guidance. An article written by Dan T. Moss (Washington/New York), Corinne Ball (New York), David S. Torborg (Washington), and Ben Rosenblum (New York) titled "New York Bankruptcy Court Rejects Challenge to Barnet Rule Permitting Foreign Debtors to Obtain Chapter 15 Recognition With Only Minimal U.S. Assets" was published on November 21, 2025, by Lexis Practical Guidance. The M&A Advisor has recognized the Silvergate Capital Corporation Bankruptcy case as the Chapter 11 Reorganization of the Year (over $5 billion) during its 20th Annual Turnaround Awards. Jones Day is listed among the professionals for the representation of Exploration Capital, which was led by Joshua M. Mester (Los Angeles). Lawyer Spotlight: Sid Pepels Sid Pepels, a partner in Jones Day's Amsterdam Office, litigates and advises clients on commercial and international insolvency matters, with a focus on complex restructurings and insolvencies. He has advised and litigated high-profile cases, including: the cross-border WHOA (Wet Homologatie Onderhands Akkoord) proceedings concerning Vroon Group and Diebold Nixdorf; proceedings on behalf of expropriated SNS Reaal bond holders against the Dutch State; the bankruptcy of Intertoys, the leading Dutch toys retailer; the restructuring of Oi, the Dutch finance vehicle of the Brazilian telecom giant; and Blokker, the leading Dutch home appliances retailer. Sid holds a Ph.D. in European insolvency law and regularly publishes in academic journals on topics of cross-border insolvency. He has been recognized in The Legal 500 Netherlands and was noted by his peers for being client-minded and a creative thinker with a "strong grasp of the law and strong interpersonal skills." Sid was also nominated for the "Future Leader" award at the Global Restructuring Review Awards 2025. He is a board member for the Netherlands Association for Comparative and International Insolvency Law and a NextGen member of the International Insolvency Institute.
Parents demand transparency as Benton Elementary health violations raise funding questions
Concerns continue about conditions inside an elementary school in Polk County after a state health inspection uncovered multiple violations, including sewage od
Stephen Colbert says CBS pulled candidate interview ahead of early voting in Texas
Late-night host Stephen Colbert said his interview with Democratic Texas Senate candidate James Talarico was pulled from Monday night's broadcast over network fears it would violate regulatory guidance from the Trump administration on giving equal time to political candidates.
Facing challenges again, Ken Welch launches third political committee
His previous PAC suffered an alleged theft, and the one before that was shut down due to violations.
Montana governor launches sanctuary crackdown, probes capital city over ICE limits
Montana governor launches investigation into Helena for allegedly violating statewide sanctuary city ban, promising penalties for violations of state law.
Curling drama grows as Britain hit with violation
The curling controversy at the Winter Olympics has widened as increased surveillance of matches resulted in the removal of a stone thrown by the British men's team for the same alleged violation that burned the Canadians two days in a row.
Health code violations issued at Pittsburgh Subway location
A Subway location in Pittsburgh has been issued several health code violations, according to a release from county officials.
Bulk beads, politics and advertising not allowed on the parade route: What krewes should know
New Orleans City Council President JP Morrell is calling out ordinance violations by krewes. We’re breaking down the rules.
Judge temporarily blocks Pentagon from punishing Sen. Kelly for call to resist unlawful orders
U.S. District Judge Richard Leon ruled that Pentagon officials violated Kelly's First Amendment free speech rights and “threatened the constitutional liberties of millions of military retirees.”
27 Rochester restaurants cited for critical health violations. See the list
Here's a look at the results of restaurant inspections last month. How did your favorite Rochester place do?
Trump FTC sends letter to Apple over alleged political bias in its news app
In a letter sent to Apple CEO Tim Cook, Federal Trade Commission (FTC) Chair Andrew Ferguson warns that the tech giant may be in violation of the FTC Act over alleged Apple News bias.
ICE chief defends officers' actions before Congress following protesters' deaths
Critics argue ICE and CBP officers use excessive force and violate rights
Congressional Researchers Analyze Whether Denying Marijuana Business Tax Deductions Under 280E Is Unconstitutional
As a federal marijuana rescheduling decision remains pending, congressional researchers have released an analysis of tax implications for cannabis businesses under current law—including a review of the idea that depriving the industry of the ability to take federal tax deductions amounts to a constitutional violation. In a report published on Friday, the Congressional Research Service […]
Six Palm Beach County restaurants temporarily shuttered for mold, roach infestations
From roaches in ovens to moldy ice machines, health inspectors shuttered six Palm Beach County eateries last week for food safety violations.
Failure to Alert Judge to Press Law for Reporter Search Draws Ethical Scrutiny
The Justice Department may have violated a candor rule by not disclosing a 1980 law when seeking a warrant for a Washington Post reporter’s home.
Popular Cincinnati brewery fails health inspection
Health inspectors listed several violations they found during their inspection.
‘Health crime’: Aoun slams Israel over spraying chemicals in south Lebanon
Lebanese president says latest 'aggression' represents an environmental crime and a violation of country's sovereignty.
Napoli vs Fiorentina: Preview
The Partenopei are struggling right now but still more than capable of squashing the Viola like a bug.
Health inspections lead to 4 Central Florida restaurant shutdowns last week
The Department of Business and Professional Regulation shut down four Central Florida dining venues for health code violations during the week from Jan. 18-24.
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
6 more Central Florida restaurants close over health violations
Last week, half a dozen eateries across Central Florida were forced to close after a visit from a health inspector, according to state records.
Apple and Google reportedly still offer dozens of AI ‘nudify’ apps
A recent investigation found over 100 apps on iOS and Android that use AI to create nonconsensual and sexualized images. This is a clear violation of both companies' policies.
Minnesota judge orders acting ICE director to appear in court
Acting Immigration and Customs Enforcement Director Todd Lyons has been ordered to appear in federal court this Friday to explain why he should not be held in contempt for violating a judge’s order in the case of a man who is challenging his detention.
China Announces Probe Into Vice Military Chair Zhang Youxia
China opened a probe into Zhang Youxia, a Politburo member and vice chairman of the Communist Party’s Central Military Commission over suspected “serious discipline and law violations,” Xinhua News Agency reported.
Health system size impacts AI privacy and security concerns
Administrators at larger health systems are more concerned about data and privacy violations, according to a new survey on shadow AI in healthcare.
8 more Central Florida restaurants shut down over health violations
Last week, eight Central Florida eateries were forced to close after a visit from a state health inspector, according to state records.
US set to quit World Health Organization
The U.S. is due to officially exit the World Health Organization on Thursday, in the face of warnings it will hit both U.S. health and global health and also in violation of a U.S. law that requires Washington to pay the UN health agency $260 million in fees that it owes.
US Set to Quit World Health Organization
By Jennifer Rigby and Emma Farge LONDON, Jan 22 (Reuters) - The U.S. is due to officially exit the World Health Organization on Thursday, in the face of warnings it will hit both U.S. health and global health and also in violation of a U.S. law that requires Washington to pay the UN health ...
GoLocalProv | News | CVS Health May Have Violated Antitrust Laws, Finds House Judiciary Committee Report
The House Judiciary Committee released an interim staff report titled
My friends in Italy are using AI therapists. But is that so bad, when a stigma surrounds mental health?
State provision for psychological health services is lamentable. Until things improve, let’s not judge those who turn to an app for help, says Italian author Viola Di Grado
Georgia issues $25 million in fines against health insurance companies
Thousands of violations were found by the Insurance Commissioner's Office.
Today’s Papers – Farewell to Commisso, Inter run away, Juventus’ blow
La Gazzetta dello SportFarewell to Rocco CommissoViola heartFiorentina lose their president: ‘We’ll play for him.’ From Calabria to the USA, from TV to football.Antognoni: ‘He gave us a lot, i...
Analysis: The GOP’s non-interventionist phase is over
We’re still waiting to find out whether President Donald Trump follows through and strikes Iran after the country violated his red line by killing lots of protesters. While Trump said he’s received assurances that “the killing has stopped,” he’s kept the possibility of military action on the table – which would mark a significant escalation even for the increasingly militaristic Trump.
NYC public school hosts Mamdani’s political pick, flouting policy
The city’s public school system appeared to violate its own policy when it invited Mamdani’s preferred socialist candidate into a classroom.
Trump set to pardon ex-Puerto Rico governor after ‘political prosecution’
Wanda Vázquez Garced, who accepted plea deal over campaign finance violation, endorsed Trump in 2020
Marijuana business sues Michigan township after voters ban pot shops
A Michigan marijuana business claims Niles Township violated due process after voters reversed course on allowing unlimited pot shops, leaving the company out $600,000.
Health inspectors find 13 violations at Lakeshore restaurant over holidays
A popular Lakeshore bar and restaurant suffered the worst health inspection it ever had last month, but the owner says everything has been “100% corrected.”
House Democrats introduce articles of impeachment for Kristi Noem
The articles include charges of obstruction of Congress, violation of public trust and self-dealing
Edgewater Neighbors, Business Owners Sue The City Over Broadway Rezoning
The plaintiffs are asking for the rezoning of Broadway to be overturned, saying the city violated property owners' rights.
ROACH PARTY: Health violations shut down over a dozen Central Florida eateries
Over a week into the new year, over a dozen more Central Florida restaurants have been forced to close up shop after a visit from a health inspector.
WA fines another insurer for violating mental health rules
A string of big insurance companies have been fined in Washington for not following laws around providing mental health coverage.
Board finds 'reasonable cause' Ferguson violated ethics law
An ethics investigation found "reasonable cause" to believe Gov. Bob Ferguson violated ethics rules in bringing former aide Mike Webb on a state plane.
Longtime Oregon lawmaker admits to ethics violation, but fails to disclose business client
The Heppner Republican agreed to a letter of education from the Oregon Government Ethics Commission over the violation.
12 Orange County restaurants have flawless health inspections; seven marked with critical violations in December
Here's a look at the results of restaurant inspections conducted in Orange County last month.
Lazio 2-2 Fiorentina: Match report
The Viola scrape a point off the Aquile with a big assist from the referee.
Health inspectors shut down 4 Central Florida restaurants last week
The Department of Business and Professional Regulation shut down four Central Florida restaurants for health code violations during the week from Dec. 28-Jan. 3.
Rep. Greg Smith admits ethics violation, fails to disclose business client
AROUND OREGON: A state legislator facing multiple ethics investigations in the past year agreed to a state sanction in a second case. State Rep. Greg Smith, R-Heppner, still has two other ethics cases pending at the Oregon Government Ethics Commission.
UN Security Council held an emergency meeting Monday after Venezuela raid
The top United Nations official warns America may have violated international law with its unilateral action
Duolingo Used iPhone's Dynamic Island to Display Ads, Violating Apple Design Guidelines
Language learning app Duolingo has apparently been using the iPhone's Live Activity feature to display ads on the Lock Screen and the Dynamic Island, which violates Apple's design guidelines. According to multiple reports on Reddit, the Duolingo app has been displaying an ad for a "Super offer," which is Duolingo's paid subscription option. Apple's guidelines for Live Activity state that the feature cannot be used to display ads or promotions.
Reckless breaches of contract will not make America great
The Trump administration has violated the fundamental business principle of honoring legally binding contracts, which will cost both the Treasury and the people dearly and create obstacles to futur…