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Results for " could " 11,302 found 🔀 AI-powered Shuffle

Yankees news: What prospects could make waves in 2026?

Look at potential future top prospects; could Grisham be a bargain?; Red Sox make trade involving former Baby Bomber.

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Feb 2 • 12:00 AM EST • Sports • pinstripealley.com
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. […]

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Feb 1 • 11:49 PM EST • Entertainment • virginiabusiness.com
Clippers’ Kawhi Leonard weaves through Suns defense for massive dunk

Clippers star Kawhi Leonard could not be stopped during one incredible play against the Suns on Sunday night.

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Feb 1 • 9:44 PM EST • Sports • clutchpoints.com
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5 Free Agent Safety Options the Vikings Could Target

In Week 18, the Minnesota Vikings hosted what felt like a farewell party for Harrison Smith, who wrapped up Year […]

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Feb 1 • 7:30 PM EST • Sports • vikingsterritory.com
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A tiny light trap could unlock million qubit quantum computers

A new light-based breakthrough could help quantum computers finally scale up. Stanford researchers created miniature optical cavities that efficiently collect light from individual atoms, allowing many qubits to be read at once. The team has already demonstrated working arrays with dozens and even hundreds of cavities. The approach could eventually support massive quantum networks with millions of qubits.

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Feb 1 • 7:00 PM EST • Science • sciencedaily.com
Super Bowl 2026: Records that could fall when Patriots battle Seahawks

Jerry Rice's record is one of several long-standing marks that could fall this year.

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Feb 1 • 3:49 PM EST • Sports • cbssports.com
Costco issues recall notice for bakery item due to undeclared allergen

Costco has recalled mislabeled "Mini Beignets filled with Caramel" that could cause allergic reactions due to undeclared tree nuts in 22 states.

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Feb 1 • 1:56 PM EST • Business • foxbusiness.com
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.

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Feb 1 • 12:27 PM EST • Technology • macrumors.com
Could Chargers trade for Tyreek Hill?

Tyreek Hill could be traded by this offseason. That could open the door for him to join the Los Angeles Chargers.

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Feb 1 • 12:00 PM EST • Sports • boltsfromtheblue.com
New PlayStation Patent Could Let You Put Controller Buttons Where You Want

All positioned on a touch screen

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Feb 1 • 9:30 AM EST • Technology • pushsquare.com
Price of consumer goods could surge as shipping costs soar, industry body says

CIPS warns of ‘cracks’ in global supply chain affecting computers, electrical machinery and transport equipment

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Feb 1 • 8:00 AM EST • Business • theguardian.com
750-year-old Indian poems reveal a landscape scientists got wrong

Old Indian poems and folk songs are revealing a surprising truth about the land. Scientists found that descriptions of thorny trees and open grasslands in texts written as far back as the 1200s closely match today’s savannas in western India. This suggests these landscapes are ancient and natural—not ruined forests. The discovery could reshape how conservation and tree-planting efforts are planned.

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Feb 1 • 7:00 AM EST • Science • sciencedaily.com
“Existential risk” – Why scientists are racing to define consciousness

Scientists warn that rapid advances in AI and neurotechnology are outpacing our understanding of consciousness, creating serious ethical risks. New research argues that developing scientific tests for awareness could transform medicine, animal welfare, law, and AI development. But identifying consciousness in machines, brain organoids, or patients could also force society to rethink responsibility, rights, and moral boundaries. The question of what it means to be conscious has never been more urgent—or more unsettling.

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Feb 1 • 7:00 AM EST • Science • sciencedaily.com
Could Giannis Antetokounmpo avoid a trade to the Warriors?

Would Giannis Antetokounmpo welcome a trade to the Golden State Warriors or prefer to be sent elsewhere?

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Jan 31 • 8:30 PM EST • Sports • warriorswire.usatoday.com
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Sixers linked to sneaky deadline target with Nick Nurse ties

A Sixers insider suggests one of Nick Nurse's former players could be a bargain target.

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Jan 31 • 7:38 PM EST • Sports • sportingnews.com
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.

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Jan 31 • 7:00 PM EST • Science • sciencedaily.com
Venezuela's acting president proposes legislation that could lead to release of hundreds of political prisoners
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Jan 31 • 5:38 PM EST • Politics • cbsnews.com
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Galaxy S26 Ultra Could Be 6% More Expensive Than Galaxy S25 Ultra Due To DRAM, NAND Price Increases; Samsung Betting On AI, SoC Upgrade & New Camera To Generate Sales

Due to rising mobile DRAM and NAND flash prices, the Galaxy S26 Ultra could end up becoming an estimated 6 percent more expensive than the Galaxy S25 Ultra

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Jan 31 • 4:49 PM EST • Technology • wccftech.com
Scott Galloway urges Big Tech boycott to influence Trump ICE policies

Small businesses struggled to observe the national shutdown to protest ICE. Here's why a boycott of companies like OpenAI and Amazon could be easier and more effective.

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Jan 31 • 4:45 PM EST • Business • businessinsider.com
3 Detroit Lions Who Could Become Cap Casualties

The Detroit Lions could make difficult cap decisions this offseason. Graham Glasgow, Taylor Decker, and David Montgomery are names to watch.

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Jan 31 • 4:06 PM EST • Sports • detroitsportsnation.com
This could legitimately have a significant impact on …

This could legitimately have a significant impact on …

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Jan 31 • 2:59 PM EST • Sports • hoopshype.com
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Ben Johnson Could Poach Dan Campbell’s Right-Hand Man

Ben Johnson could look to Detroit for coaching help as the Bears search for offensive staff. Could Lions assistant Scottie Montgomery be next?

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Jan 31 • 12:40 PM EST • Sports • detroitsportsnation.com
February stargazing: A planet parade comes to town

And why 2026 could be a big year for spotting auroras.

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Jan 31 • 9:00 AM EST • Science • popsci.com
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Gov. DeSantis to talk future Tampa Bay Rays ballpark? Speculation mounts

The stadium issue could be resolved finally

floridapolitics.com logo
Jan 31 • 8:55 AM EST • Politics • floridapolitics.com
Apple's New Lip-Reading Tech Is a Weird Signal of Where We're Heading

Commentary: The purchase of a startup called Q.ai isn't a blip on the radar. The way we use our wearables could be changing in very weird new ways.

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Jan 31 • 8:01 AM EST • Technology • cnet.com
Hundreds of political prisoners in Venezuela could be released under new amnesty bill

Venezuela's acting president announces amnesty bill that could free hundreds of political prisoners, including opposition leaders and journalists.

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Jan 31 • 7:22 AM EST • Politics • foxnews.com
Scientists finally explain statin muscle pain

Statins are a cornerstone of heart health, but muscle pain and weakness cause many patients to quit taking them. Scientists have now identified the precise molecular trigger behind these side effects. They found that statins jam open a critical muscle protein, causing a toxic calcium leak. The discovery could lead to safer statins that keep their life-saving benefits without the muscle damage.

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Jan 31 • 7:00 AM EST • Science • sciencedaily.com
Bengals take top defensive tackle in latest NFL Mock Draft

This could be a really good first round pick for the Bengals.

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Jan 31 • 6:15 AM EST • Sports • cincyjungle.com
A Predictor of a Good Social Life? Your Parents.

A decades-long study suggested that close relationships with family members during teenage years could lead to a rich network of friendships in adulthood.

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Jan 31 • 5:02 AM EST • Health • nytimes.com
Venezuela announces amnesty bill that could lead to release of political prisoners

Venezuela's acting President Delcy Rodríguez on Friday announced an amnesty bill that could lead to the release of hundreds of prisoners detained for political reasons.

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Jan 31 • 1:55 AM EST • Politics • npr.org
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Galaxy S26 could save you from spam calls with Google’s help

Are you getting tired of spam calls? Well, the Galaxy S26 could help you stop them, thanks to Samsung's partnership with Google.

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Jan 30 • 11:38 PM EST • Technology • sammobile.com
Planned Parenthood, reproductive healthcare could receive $90 million in new state funding

California will bolster funding for Planned Parenthood and other providers of reproductive health with a one-time infusion of $90 million, leaders of the state Legislature announced Friday.

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Jan 30 • 11:00 PM EST • Health • latimes.com
Michigan State falls to Michigan, failing to overcome horrific start

Michigan State could not overcome a horrific first half, falling to Michigan in East Lansing.

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Jan 30 • 10:49 PM EST • Sports • spartanswire.usatoday.com
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Mother sues Novant Health after death of daughter left her with haunting questions

LaChunda Hunter didn't think she could have kids. When she learned she was pregnant, she called it a miracle. That miracle quickly became a nightmare after birth.

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Jan 30 • 8:47 PM EST • Health • wral.com
Venezuela plans amnesty law for political prisoners and closure of notorious prison

Venezuela’s acting president has announced a proposed amnesty law that could lead to the release of hundreds of political prisoners, as well as the closure of a notorious detention center, in her latest concessions since the US capture of President Nicolas Maduro.

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Jan 30 • 8:01 PM EST • Politics • cnn.com
Let ABC15 Know helps local business stuck in 'Google jail' after 40 days.

A Surprise small business owner says his company was shut out of Google's platform for over a month, and he couldn't get a clear explanation why.

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Jan 30 • 7:52 PM EST • Business • abc15.com
Venezuela announces amnesty bill that could lead to mass release of political prisoners

CARACAS, Venezuela (AP) — Venezuela’s acting President Delcy Rodríguez on Friday announced an amnesty bill that could lead to the release of hundreds of prisoners, including opposition leaders, jou…

thehill.com logo
Jan 30 • 7:40 PM EST • Politics • thehill.com
Venezuela announces bill that could lead to mass release of prisoners detained for political reasons

CARACAS, Venezuela (AP) — Venezuela’s acting President Delcy Rodríguez on Friday announced a bill that could lead to the release of hundreds of prisoners, including opposition leaders, journalists and human rights activists detained for political reasons.

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Jan 30 • 7:18 PM EST • Politics • wral.com
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Why doing household chores may be better for your health than you think

Those tedious household chores might be doing more than just keeping your home clean; they could be improving your health, according to medical experts.

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Jan 30 • 7:06 PM EST • Health • clickondetroit.com
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Local health officials warn of winter storm dangers beyond icy roads

Health official say frostbite, hypothermia and even just falling on the ground from ice on your porch or your driveway could have long-term effects on your health.

wect.com logo
Jan 30 • 6:11 PM EST • Health • wect.com
Venezuela’s Rodriguez Announces Amnesty For Political Prisoners

Venezuela’s interim government announced broad amnesty for political prisoners on Friday, a move that could benefit hundreds of people still held in the country’s jails, EFE reported, citing comments from acting President Delcy Rodríguez.

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Jan 30 • 6:01 PM EST • Politics • bloomberg.com
Scientists Identified a New Blood Group After 50-Year Mystery

A medical breakthrough that could save lives.

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Jan 30 • 5:43 PM EST • Science • sciencealert.com
Patriots’ Christian Gonzalez Praises ‘Amazing’ Seahawks Star Before Super Bowl

New England Patriots cornerback Christian Gonzalez will have his hands full during a marquee matchup that could sway Super Bowl LX against the Seattle Seahawks. New England’s red-hot defense must find ways to slow down Jaxon Smith-Njigba at Levi’s Stadium. The 23-year-old has blossomed into arguably the NFL’s best wide receiver during his third season, […]

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Jan 30 • 5:21 PM EST • Sports • sports.yahoo.com
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?

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Jan 30 • 3:08 PM EST • Entertainment • cbsnews.com
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Measles cases in South Carolina rise by 58 to 847, state health department says

South Carolina reported 847 measles cases on Friday, state health data showed, including 58 additional infections since Tuesday, as officials warned the widening outbreak could last weeks or months amid lagging vaccine uptake.

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Jan 30 • 12:56 PM EST • Health • reuters.com
150-acre sports complex delayed after outcry from Wisconsin residents

After listening for hours of residents' opposition to the plan, the Big Bend Plan Commission tabled action on The Breck. It could still return.

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Jan 30 • 11:52 AM EST • Sports • jsonline.com
Nvidia won’t give up on Shield TV updates ‘any time soon,’ new hardware could happen

Over a decade in, Nvidia says it isn’t giving up on the Shield TV any time soon, with updates still...

9to5google.com logo
Jan 30 • 11:30 AM EST • Technology • 9to5google.com
Study: Being a night owl could be bad for your health
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Jan 30 • 11:05 AM EST • Health • cbsnews.com
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Gavin Newsom says he's 'burdened by the facts' as he criticizes California billionaire wealth tax proposal

California Gov. Gavin Newsom doubled down on his criticism of the proposed billionaire wealth tax, warning it could cut school and safety funding rather than solve budget issues.

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Jan 30 • 10:34 AM EST • Business • foxbusiness.com
Here is What to Know Beyond Why AMC Entertainment Holdings, Inc. (AMC) is a Trending Stock

Zacks.com users have recently been watching AMC Entertainment (AMC) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

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Jan 30 • 9:00 AM EST • Entertainment • finance.yahoo.com
High school sports top performers on Thursday delivered in the clutch

Whether on the mat, mountain or court, these four high school athletes couldn't be stopped Thursday. See which top performers made the cut.

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Jan 30 • 7:58 AM EST • Sports • metrowestdailynews.com
A breakthrough that could make ships nearly unsinkable

Researchers have found a way to make ordinary aluminum tubes float indefinitely, even when submerged for long periods or punched full of holes. By engineering the metal’s surface to repel water, the tubes trap air inside and refuse to sink, even in rough conditions. The technology could eventually be scaled up into floating platforms, ships, or even wave-powered energy systems.

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Jan 30 • 7:00 AM EST • Science • sciencedaily.com
Sources: Main Street Sports facing real possibility of liquidation

Unless 11th-hour financing can coerce its nine MLB teams to stay put, Main Street Sports Group could have little choice but to file for Chapter 7 and immediately liquidate its business next week

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Jan 30 • 6:19 AM EST • Sports • sportsbusinessjournal.com
Santa Monica's Downtown Drinking Zone Could Triple in Size

Santa Monica's downtown Entertainment Zone could expand from its current 3-block area to include Fourth Street to Ocean Avenue and from Wilshire to Colorado, following DTSM approval.

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Jan 30 • 6:00 AM EST • Entertainment • smdp.com
How direct-to-consumer health tests could impact insurance, mortgages, and employment

As more consumers order up lab tests and genetic screenings, experts say it could impact insurance, loans, and employment decisions.

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Jan 30 • 4:30 AM EST • Health • statnews.com
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South Florida Republicans cheer Donald Trump's tariff order on nations doing business with Cuba

Mario Díaz-Balart, María Elvira Salazar and Carlos Giménez said the move could pressure the end of communist rule on the island.

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Jan 30 • 4:15 AM EST • Business • floridapolitics.com
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3 potential assistant coaches for Commanders' defensive staff

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

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Jan 30 • 3:01 AM EST • Sports • commanderswire.usatoday.com
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Illinois overscomes clunky start, extends winning streak to 10

CHAMPAIGN — Illinois freshman sensation Keaton Wagler was welcomed with an especially loud cheer from the State Farm Center crowd as he was introduced on Thursday night. And for a microscopic moment, it appeared history could continue to follow him as he was the only Illini to score points through the first six-plus minutes of […]

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Jan 29 • 11:17 PM EST • Sports • thechampaignroom.com
NC State downs Boston College, 106-84

Normally you might have to worry a little bit if you give up 16 made threes, but not so on Thursday night, as not even a ridiculously above-average shooting performance from Boston College could keep the Eagles close. NC State’s offense was relentless thanks to standout performances from Zoe Brooks, Tilda Trygger, Khamil Pierre, and […]

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Jan 29 • 10:21 PM EST • Sports • backingthepack.com
Gen X and millennial inheritance could take a hit due to health care costs and taxes

Generation X and millennials who may be receiving an inheritance from the previous generations may be receiving less than expected due to health care costs and taxes, according to experts. NBC News' Brian Cheung breaks down how this will impact the younger generation.

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Jan 29 • 8:31 PM EST • Health • nbcnews.com
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Gambling could become a mental health crisis for teen boys

A new report from Common Sense Media found that more than a third of boys ages 11 to 17 have gambled in the past year. NBC News Now Daily anchor Kate Snow joins the "Here's the Scoop" to discuss the rise in gambling among teenage boys and why some experts worry it could cause a mental health crisis.

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Jan 29 • 8:03 PM EST • Health • nbcnews.com
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Senate Democrats and White House strike deal to avert shutdown, continue ICE debate

The deal could be approved by the Senate as early as Thursday night, but would still need House approval before midnight Friday to avert another government shutdown.

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Jan 29 • 7:02 PM EST • Politics • latimes.com
The Observatory and WHO Ukraine reflect on productive partnership and continued collaboration

Why have some health systems coped better than others during the COVID-19 pandemic? Some answers might become clear if we could assess how resilient health systems are in response to crises or shocks, such as the current pandemic and other emergencies, including financial ones, or how well health systems were prepared for such events in the first place. The European Observatory on Health Systems and Policies has just published a new policy brief, “Strengthening health systems resilience”, which includes a framework to help policy-makers understand health system resilience and how to strengthen it. This policy brief highlights the key features of resilience and provides examples of strategies which have been applied in different countries.

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Jan 29 • 7:00 PM EST • Health • eurohealthobservatory.who.int
Josh Allen Disrespects Patriots In New Sore Loser Comments

It’s always unlikable when a pro athlete plays the “shoulda, woulda, coulda” game during interviews, and that’s what Buffalo Bills QB Josh Allen just did. In a new presser, Allen insinuated that if he’d made one more play against the Denver Broncos in the Divisional round, the Bills would be headed to the Super Bowl […]

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Jan 29 • 6:45 PM EST • Sports • sports.yahoo.com
Jon Gosselin 'could have died' shortly before his wedding from common health emergency

“Jon & Kate Plus 8” star Jon Gosselin had a scary medical emergency shortly before his recent wedding to Stephanie Lebo last year.

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Jan 29 • 3:00 PM EST • Health • thenationaldesk.com
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The secret to long life? It could be in the genes after all, say scientists

New study into ‘heritability’ shows that 50% of the variation in human lifespan could be down to genetics

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Jan 29 • 2:00 PM EST • Science • theguardian.com
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Medicare Advantage insurers face new curbs on overcharges in Trump plan

Federal officials have a plan that could curb billions of dollars in overpayments to Medicare Advantage plans. But will they follow through on it?

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Jan 29 • 1:58 PM EST • Health • npr.org
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Former reality TV father of 8 reveals major health scare: ‘I could have died’

It happened just weeks before his marriage to his second wife.

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Jan 29 • 1:49 PM EST • Health • mlive.com
The Science Behind Rare Gulf Effect Snow Potential In Tampa Bay

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

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Jan 29 • 10:24 AM EST • Science • forbes.com
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Health care and academic workers share concerns over halt to H-1B visas in Texas

Since Houston is home to the world's largest medical center, ABC13 wanted to know how Gov. Greg Abbott's directive could affect operations.

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Jan 29 • 9:58 AM EST • Health • abc13.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
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
Speedskater Jordan Stolz conquered World Cups. Olympic history is next

Speedskater Jordan Stolz has an almost unbreakable hold on the men's side of the sport. He could leave the 2026 Winter Olympics with four gold medals.

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Jan 29 • 6:07 AM EST • Sports • usatoday.com
Samsung's leaked Galaxy Buds 4 and Buds 4 Pro prices could be a great sign for the Galaxy S26 series

Samsung's next earbuds will not increase the prices of their predecessors, which means the same could be true for the Galaxy S26 trio.

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Jan 29 • 3:22 AM EST • Technology • phonearena.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
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.

sports.yahoo.com logo
Jan 28 • 9:34 PM EST • Sports • sports.yahoo.com
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.

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Jan 28 • 9:23 PM EST • Sports • cbsnews.com
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'Miracle on Ice' players discuss political climate heading into Winter Olympics

Mike Eruzione says the country needs a unifying moment: "We could use an '80 now."

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Jan 28 • 4:09 PM EST • Politics • nbcnews.com
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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.

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Jan 28 • 12:00 PM EST • Entertainment • variety.com
Google DeepMind launches AI tool to help identify genetic drivers of disease

AlphaGenome can analyse up to 1m letters of DNA code at once and could pave way for new treatments

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Jan 28 • 11:15 AM EST • Technology • theguardian.com
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Google DeepMind launches AI tool to help identify genetic drivers of disease

AlphaGenome can analyse up to 1m letters of DNA code at once and could pave way for new treatments

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Jan 28 • 11:15 AM EST • Science • theguardian.com
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California mental health hospitals warn over cuts after state hands down staffing rules

Psychiatric hospitals could close beds under proposed state rules if regulators don’t allow implementation time, facilities warn.

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Jan 28 • 8:30 AM EST • Health • calmatters.org
iPhone 18 Pro Could Feature Teleconverter Alongside Variable Aperture

Apple's rumored new variable aperture camera system for this year's iPhone 18 Pro models has reached the sampling stage, according to a new claim from a Chinese leaker. Posting on Weibo today, the account known as "Smart Pikachu" said the feature had entered late-stage engineering samples, while a teleconverter is also "under evaluation" for the device. The iPhone 18 Pro and iPhone 18 Pro Max are expected to launch in September 2026.

macrumors.com logo
Jan 28 • 6:01 AM EST • Technology • macrumors.com
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.

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Jan 28 • 6:00 AM EST • Business • fredericknewspost.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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