SCROLL NEWS / DISCOVERY
Search headlines
Find the stories shaping the conversation.
Results for " CITY " 9,794 found 🔀 AI-powered Shuffle
Natrona County Health Department christens new headquarters
CASPER, Wyo. — This week, the Natrona County Health Department officially opened its doors at a new Conwell Street location, marking the completion of a
Community rallies to help Fayetteville business owner after pipe burst during storm
As the city of Fayetteville works to return to normal after a weekend winter storm, many residents are still dealing with its aftermath.
We're Living in the Best Seattle Sports Year Ever
And it might just be about to get better.
Roanoke Mayor Cobb pitches entertainment district as next chapter for Berglund Center
ROANOKE, Va. (WFXR) –Roanoke Mayor Joe Cobb says an entertainment district could represent a bold step for Roanoke’s future, building on the city’s history of economic development through public-private partnerships and long-term investment. Cobb says Roanoke has often advanced by exploring new ideas, weighing multiple options and working collaboratively to strengthen the city and the […]
INDYCAR and Monumental Sports & Entertainment Announce Partnership to Fuel Freedom 250 Grand Prix of Washington, D.C.
Washington, D.C. (February 3, 2026) –INDYCAR and Monumental Sports & Entertainment have teamed up to promote this summer’s historic Freedom 250 Grand Prix of Washington, D.C. The event will be the first-ever motor race on the National Mall and city streets, taking place August 21-23 in celebration of America’s 250th birthday. Monumental Sports & Entertainment will
INDYCAR and Monumental Sports & Entertainment Announce Partnership to Fuel Freedom 250 Grand Prix of Washington, D.C.
Washington, D.C. (February 3, 2026) –INDYCAR and Monumental Sports & Entertainment have teamed up to promote this summer’s historic Freedom 250 Grand Prix of Washington, D.C. The event will be the first-ever motor race on the National Mall and city streets, taking place August 21-23 in celebration of America’s 250th birthday. Monumental Sports & Entertainment will
At science fair, UC Berkeley researchers lobby for $23B bond to offset Trump’s cuts
California scientists left their labs last week to defend their work studying disease treatments, resilience to extreme heat and more
Lewes still working toward home-based business regs
Lewes Mayor and City Council put the ingredients of a proposed reconstituted home-based business ordinance through a new blender Jan. 28. The ordinance was the main topic of the first working session, a new format designed to allow council members...
Prep talk: City of South Gate offers glimpse into neighborhood sports worship
The community in South Gate comes out for high school sports, with three schools near one another. South Gate and South East will play in a Friday Eastern League basketball game.
Does Colorado have too high of a population?
I think I first fell in love with Colorado back in 1968, when we took a family vacation from Michigan out to Salt Lake City and back. My dad had been asked to speak at a genealogy event, and rather than him just flying to SLC and back, we loaded up the station wagon (one […]
Mamdani’s New Health Commissioner Is an Unexpected Pick
Alister Martin’s appointment comes at pivotal time for the health of millions of New Yorkers, many of whom stand to lose their insurance or Medicaid under looming federal cuts.
Sports on the Air for Tuesday, February 3: TV, radio schedule in Kansas City
See the television and radio listings for live and same-day taped sporting events in the Kansas City area for Tuesday, February 3.
25,000+ Votes Fuel Dallas Entertainment Awards Week as City’s Creative Scene Takes Center Stage
Experience the excitement of the Dallas Entertainment Awards Week kickoff event. Join the celebration of North Texas' vibrant creative community.
From Park City to Boulder and Beyond, United for Business Keeps Festivals and Productions Moving With Travel Solutions
United supports the entertainment industry with specialized travel programs and high-touch service
New Orleans leaders on hand for opening of new Rouses Market in New Orleans East
Mayor Helena Moreno and other city leaders joined Rouses Markets executives on Monday to mark the formal opening of the regional grocery chain's new New Orleans East location, which includes
Linden Entertainment Taps Jenna Jackson as Brand Ventures Executive (Exclusive)
Jackson will seek out new opportunities for the firm and its clients as well as assist preexisting labels like Once Upon a Farm from Jennifer Garner and YSE Beauty from Molly Sims.
Las Vegas project manager talks challenges in developing commerical real estate
Las Vegas is a high-velocity market with strong demand drivers, but it rewards disciplined execution and punishes uncertainty, said Art Zargaryan, CEO of Pegasus Development.
Pleasant Ridge school, business closed due to water main break; Water Works reports 60+ breaks, leaks
A Pleasant Ridge school and business will be closed Monday due to a water main break as city officials move to 12-hour shifts to meet a rising workload.
Hefty taxes kick back in for small Philly businesses
Many businesses are likely unprepared and unaware they need to start paying the city's Business Income and Receipts Tax.
Indiana imaging group joins Strategic Radiology’s independent practice coalition
Evansville Radiology employs 23 physicians, all of whom live around Vanderburgh County in the vicinity of Indiana’s third largest city.
Small Businesses in Minneapolis Serve a City in Crisis. ‘This Is Our New Normal.’
In Minneapolis and St. Paul, business owners work to lift up a community that has been roiled by the presence of thousands of immigration agents.
Small Businesses in Minneapolis Serve a City in Crisis. ‘This Is Our New Normal.’
In Minneapolis and St. Paul, business owners work to lift up a community that has been roiled by the presence of thousands of immigration agents.
Thunder beat Nuggets 121-111 behind Gilgeous-Alexander's 34 points
DENVER (AP) Shai Gilgeous-Alexander scored 34 points and Cason Wallace added a career-best 27, including seven 3-pointers, as the Oklahoma City Thunder beat the Denver Nuggets 121-111 on Sunday night.
Norfolk eyes Harbor Park entertainment district
An entertainment and nightlife district could be in the cards for the area surrounding Norfolk‘s upcoming $750 million waterfront resort casino near Harbor Park. The city owns most of the property around the casino site and the ballpark, controlling almost seven acres in an area bordered by the Elizabeth River, railroad tracks and Interstate 264. […]
San Antonio Sports announces rosters for 2026 All-Star Basketball Game
More than 100 of the top high school senior basketball players in and around the Alamo City will suit up to compete on Sunday, April 12, at Northside Sports Gym.
Chicago police issue alert for string of business burglaries, armed robbery on Northwest Side
Chicago police issued an alert on Sunday about a string of business burglaries and an armed robbery on the city's Northwest Side.
Time.so Reports 300% Growth in Business Users
Time.so reports 300% growth in business users as global teams rely on its fast world clock, city times, time zones, and
Meningitis cases rise in major Midwestern city, prompting public health alert
Chicago health officials issue urgent alert after seven meningococcal disease cases, including two deaths. Know the symptoms and warning signs.
Leeds Council discusses public projects, water treatment business
Public Works projects and a potential environmental and water treatment business were the subjects of a meeting for the Leeds City Council on Wednesday night after it was rescheduled from Monday due to weather conditions.
Apple's Foldable iPhone Rumored to Feature Unrivaled Battery Life
Apple's first foldable could feature the biggest ever iPhone battery and eclipse rival devices, according to a known leaker. In a new post, the Weibo user known as "Fixed Focus Digital" says that the foldable's battery could be over 5,500 mAh in size, which would make it the largest capacity of any current or previous iPhone. The iPhone 17 Pro Max has the biggest iPhone battery to date at 5,088 mAh.
Previewing Mountain West Softball: UNLV Rebels
Time to travel to Sin City to look at the UNLV Lady Rebels. Can the Rebels rebound after a disappointing 2025?
Kansas City hires former Maryland, Texas A&M coach Mark Turgeon
The Roos hit a home run by bringing on a coach with more than 470 wins and 10 NCAA Tournament appearances
Natrona County health and food inspections (1/23/26–1/29/26)
CASPER, Wyo. — The Casper-Natrona County Health Department inspects restaurants, grocery stores, convenience stores, mobile food units, commissaries and
NYU Langone Pediatric Associates—Long Island City
At NYU Langone Pediatric Associates—Long Island City, our team delivers expert pediatric care to families. Learn more.
Dallas ramps up World Cup logistics, focusing on transit, Fair Park and local businesses
City staff outlines next steps as FIFA planning moves forward before summer matches.
iPhone Fold Battery Size Revealed In Latest Rumor, With The Capacity Expected To Be The Largest That Apple Has Even Used In Its Smartphone Lineup
A tipster has shared the alleged battery capacity belonging to the iPhone Fold, and it will be larger than the iPhone 17 Pro Max’s cell
BIZBEAT: Entertainment-themed Airbnb opens doors in Jefferson City
A new gaming and entertainment haven is now open for business in Jefferson City, and visitors even have the option to stay the night.
AND NEW! Stevenson Dominates Lopez To Become Four-Division Champion
If there was ever any doubt as to how good Shaker Stevenson really is he put it all to rest last night (Sat., Jan. 31, 2026) in New York City against Teofimo Lopez, dominating “The Takeover” for pretty much the whole fight inside Madison Square Garden. From the jump Stevenson made it clear to Lopez […]
High school basketball: Saturday's scores
CIF City Section and Southern Section high school boys' and girls' basketball scores for Saturday's games.
Stars top Mammoth 3-2 for 4th straight win
SALT LAKE CITY (AP) Thomas Harley and Wyatt Johnston each scored a power-play goal in the first period to lead the Dallas Stars over the Utah Mammoth 3-2 on Saturday night.
Columbia city, business leaders send relief supplies to help North Mississippi
About one dozen full pallets of water was loaded on a National Guard transport truck Saturday, for delivery to families displaced by the winter storm.
Famed Las Vegas music club closing after 17 years
A hit in New York City, Don’t Tell Mama ran on Fremont East and, since 2019, Neonopolis.
Scientists discover hidden geometry that bends electrons like gravity
Researchers have discovered a hidden quantum geometry inside materials that subtly steers electrons, echoing how gravity warps light in space. Once thought to exist only on paper, this effect has now been observed experimentally in a popular quantum material. The finding reveals a new way to understand and control how materials conduct electricity and interact with light. It could help power future ultra-fast electronics and quantum technologies.
Watsonville’s Guillen records five goals in trounce over King City
Watsonville senior forward Diego Guillen notched five goals in the Wildcatz's 7-2 thumping win over King City in Pacific Coast Athletic League Mission Division boys soccer action Friday evening.
Aurora restaurant concerned new city construction project may hurt nearby businesses
Casa Vallarta Mexican Restaurant in Aurora has survived a lot of trials since it opened its doors in 1998. It is now preparing for yet another challenge as a major construction project is set to begin nearby.
Trump says federal government won’t step into Democratic-led city protests ‘until they ask us for help’
President Donald Trump said Saturday that he has instructed Homeland Security Secretary Kristi Noem not to intervene in protests or unrest in Democratic-led cities unless local officials formally request assistance, while vowing an aggressive federal response to protect government property.
Mamdani names new Department of Correction commissioner
Stanley Richards will become the first formerly incarcerated person to lead the city’s jails.
Premier League picks: Tottenham vs. Manchester City betting odds, expert bets
SportsLine soccer expert Jon Eimer has locked in his best bets for Tottenham vs. Manchester City on Sunday, Feb. 1
Nottingham Forest set to sign Manchester City’s forgotten goalkeeper
Stefan Ortega is in the final months of his contract at City and is closing in on a move to midlands
Calais calls measure on law enforcement relationship mere ‘politics’
The City Council delayed a vote on a resolution urging the governor to veto the measure because several supportive councilors were absent.
High school basketball: Friday's scores
CIF City Section and Southern Section high school boys' and girls' basketball scores for Friday's games.
Atlanta's 500 Most Powerful Leaders in 2026: Arts, Sports, & Entertainment
These are Atlanta's 500 most powerful leaders. We spent months consulting experts and sorting through nominations to get a list of the city's most influential people—from artists to chefs to philanthropists to sports coaches and corporate CEOs. In this section, we focus on arts, film, music, entertainment, and sports.
"We bring that level of entertainment closer to home": Monster truck show set to take over Med City
Monster trucks are coming to the Mayo Civic Center in Rochester Saturday with demolition, freestyle tricks, races and more.
Dueling S.F. ballot measures will pit unions against business leaders
The stage has been set for an expensive battle between labor unions and San Francisco’s business community over how the city should tax big businesses. Here’s what to know about the ballot...
Michigan Matters: A new entertainment and sales tax for Detroit?
Could a new entertainment tax and a new sales tax be ahead for the Motor City?
He’s a Democratic mayor in a red state. Is he worried Trump will target his city next?
Rescheduled: ACPS Science and Engineering Fair
ALEXANDRIA, VA - The annual Alexandria City Public Schools (ACPS) Science and Engineering Fair has been rescheduled to February 5, 2026. More than 1,600
These Utah businesses will close — or donate from their sales — Friday to protest Minnesota immigration crackdown
One Salt Lake City bookstore will be closed Friday, but will reopen in the evening so people can gather to write letters or make safety kits. Another will stay open and donate a portion of its sales to a west-side school.
Former State Sen. Brett Lindstrom out of Nebraska’s 2nd District GOP race
Omaha City Councilman Brinker Harding is now the likely GOP nominee to defend the seat Bacon holds in the 2nd District.
Strand Larsen future to dominate talk again
Rob Edwards' news conference on Friday is likely to be the latest instalment of the mini Strand Larsen saga, with his move to Crystal Palace in serious doubt. Nothing was ever officially agreed for the Norwegian, even if a £50m deal was struck in principle, and there remains a chance he will stay beyond the deadline - something Wolves would still be happy and comfortable with. Wolves host Bournemouth on Saturday as Edwards tries to maintain momentum, despite last week's defeat by Manchester City, and he will be quizzed about Strand Larsen's future at Compton later.
Open Streets are Business Incubators, Yet Another Report Shows - Streetsblog New York City
Want jobs? Keep out the cars.
“It was insane to see”: Owner reacts after car crashes into Kansas City, Kansas, business
A car crashed into a Kansas City, Kansas, business Thursday morning, sending debris across the block and leaving the storefront boarded up.
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.
Council Speaker looks to savings, not taxes, for budget
Mayor Mamdani says the city faces a $12 billion budget gap.
How Trinity Rodman's deal changed the business of women’s soccer
Trinity Rodman was at the center of the biggest contract dispute in women's sports. Her NWSL peers have her back.
Face Off! Lopez Stares Down Shakur In New York!
Teofimo Lopez and Shakur Stevenson came face-to-face earlier today (Thurs., Jan 29, 2026) at the conclusion of the pre-fight press conference ahead of their light welterweight title fight this Saturday (Jan. 31) inside Madison Square Garden in New York City, streaming live on DAZN PPV. Watch the press conference video replay here. Stevenson is out […]
Driver seriously injured after crashing into KCK business
One man was taken to the hospital after crashing into a Kansas City, Kansas, building Thursday morning.
Entertainment lineup announced for 2026 Bacchus Bash
As we count down to Mardi Gras day, krewes host some of the city's biggest parties leading up to their rolls through New Orleans.
Entertainment lineup announced for 2026 Bacchus Bash
As we count down to Mardi Gras day, krewes host some of the city’s biggest parties leading up to their rolls through New Orleans.
City & State New York Recognizes Two Leaders From NYC Health + Hospitals And MetroPlusHealth On 2026 "Trailblazers in Healthcare" List - NYC Health + Hospitals
NYC Health + Hospitals announced that NYC Health + Hospitals/Elmhurst Director of Oral and maxillofacial surgery Dr. Maryam Akbari and MetroPlusHealth
City & State New York Recognizes Two Leaders From NYC Health + Hospitals And MetroPlusHealth On 2026 "Trainblazers in Healthcare" List - NYC Health + Hospitals
NYC Health + Hospitals announced that NYC Health + Hospitals/Elmhurst Director of Oral and maxillofacial surgery Dr. Maryam Akbari and MetroPlusHealth
Driver crashes into upholstery business in Kansas City, Kansas; one seriously hurt
A car crashed into Ramos Upholstery in Kansas City, Kansas, on Central Avenue and N Tremont Street in Strawberry Hill Thursday morning
AI helps expand medical response capacity for treating Bay Area's homeless
The Future Communities Institute and its partners in the San Francisco Bay plan to use artificial intelligence to act as a force multiplier for street medical teams that help to improve patient outcomes and social referrals for the region's homeless.
Pro Football Hall of Fame voter explains Bill Belichick snub
Vahe Gregorian of the Kansas City Star gave his reasoning for leaving the Patriots legend out of his top three
Hy-Vee launches a new food health tool. How does it work?
A new online tool for Hy-Vee aims to help customers simplify evaluating their food choices for better health.
Syracuse mayor to deliver her first State of the City address
Mayor Sharon Owens' speech will begin at Nottingham High School at 6 p.m.
Newport News creates a new vibe: City forms nonprofit to support entertainment events
Newport News will create a nonprofit called NNVibes to help coordinate large-scale entertainment events. This comes after Mayor Phillip Jones announced the city will host a major music festival lat…
More KC businesses train workers on ICE protocols
Kansas City business owners are prepping staff for rising ICE activity in workplaces.
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.
Small Business Promotion Week: WashSmart Laundry
You won’t find any coins at this laundromat. WashSmart Laundry in North Arlington prides themselves not only on being coinless, but they also offer the latest high-powered, energy-efficient washers and dryers that not only clean faster but leave clothes “feeling softer.”
At World’s Busiest Port, China’s Unbalanced Economy Comes Into View
The shipping traffic and factories never stop in China’s port city of Ningbo, but the local housing market has crashed and nearby restaurants sit empty.
Yuba City eyes $8.5 million state grant for new regional sports complex
A new regional youth sports complex could be coming to Yuba City. The city's public works department is planning to apply for a state grant that could award up to $8.5 million through a revitalization program.
Short-seller report accuses Carvana of overstating earnings
After the report, written by Gotham City Research but not naming an author, was released, the share value tumbled about 14%.
Takeaways from CNN’s Minnesota town hall
Minneapolis Mayor Jacob Frey, in a CNN town hall Wednesday night, stood by the city’s sanctuary policies and repeated his demand that federal immigration agents leave the city.
Decatur seeking input on Oakwood Business District
DECATUR, Ill. (WCIA) — The City of Decatur is asking its residents to fill out a survey on changes they would like to see to the Oakwood Business District before they make a plan to revamp it. Councilman David Horn said the survey is part of a step that will be taken before the city […]
Champions League results: Arsenal, Liverpool, Manchester City among teams into round of 16; Benfica score last-gasp goal for play-offs berth
Champions League live updates, scores: Arsenal, Liverpool, Manchester City cruising; Barcelona, Chelsea behind at halftime of Matchday 8
ICE presence threatens small business in Minneapolis and Minnesota, some owners say: 'I can hardly do my normal job'
Some Minneapolis small-business owners say they fear for their personal safety, their community's safety and their businesses' survival amid ICE's presence in the city.
Eau Claire County Health Department releases measles and respiratory update
The Eau Claire City-County Health Department’s communicable disease team released statements about both measles and a respiratory update.
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.
Chia Pet Film and TV Rights Acquired by Rakia Media and Crystal City Entertainment: ‘We Can’t Wait for Audiences to Check Out the World of Chia in Theaters’ (EXCLUSIVE)
A Chia Pet movie or TV show could be on the horizon, as the media rights to the classic gift brand have been sold.
The Entertainment District Focus Group examining long term future of Berglund Center complex
Its called the Entertainment District Focus Group, a mostly citizen group asked to weigh in on a possible casino at the Berglund Center - just for starters. The Entertainment District Focus Group is centered around the Berglund Center Complex, as the city looks to generate more revenue. Is there sup
Peter Murray Tapped as CEO of Professional Bowlers Association and Head of Media for Lucky Strike Entertainment (Exclusive)
Murray had been the founding CFO of the MMA promotion Professional Fighters League.
Frederick zoning amendment could change rules for home businesses
Frederick business owners who operate out of their homes could have new rules under a zoning amendment being considered by the city's Planning Commission.
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
Vacant Houston properties burn four times, threatening established business next door
Four fires in two years. 50% of customers gone. And the city-cited buildings just burned again. This Westheimer restaurant owner says enough is enough.
Max Scherzer Predicted To Surprisingly Land With New AL Team
Max Scherzer’s free agency could extend into the season, per reports, as teams weigh his veteran presence against durability concerns. Bleacher Report’s Zachary D. Rymer pointed to the Kansas City Royals as a compelling surprise option. “According to Ken Rosenthal and Will Sammon of The Athletic, the latest on Max Scherzer is that he could […]
More options for mental health services and substance abuse treatment in Visalia
Visalia Recovery Center is opening up at its new location on East Caldwell Avenue in the city.
Norfolk’s Pagoda is a “gem.” Local entrepreneurs say doing business there was a nightmare.
The crux of tensions between business owners and the foundation that runs the Pagoda is the question of what the property is, and should be, to the city of Norfolk.
Iowa puts stringent defense up against Chad Baker-Mazara, USC
Southern California will try to close out a successful road swing on Wednesday in Iowa City, when the Trojans face an Iowa team seeking its third straight win.