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Recent openings, closings and other updates to Pierce County's business scene
Explore recent openings and other updates to Tacoma-area businesses.
A $40 Billion Idea to Keep One Glacier From Flooding the Earth
Scientists have long opposed polar geoengineering. Some now believe it will be necessary.
12+ powerful Alexa commands you should start using at home (no subscriptions required)
Alexa works well out of the box, but these lesser-known features make it even more useful.
Carbon Dioxide 'Pulses' Clears Toxins From Parkinson's Brains in Recent Study
A tantalizing possibility.
NVIDIA only gave minutes to buy the GeForce RTX 5090/5080 Founders Edition at MSRP, in the first drop since early December
NVIDIA GeForce RTX 5090 Founders Edition restock hits Europe, sells out in minutes NVIDIA’s Marketplace saw its first Founders Edition restock in over a
At Washington Mardi Gras, Gov. Jeff Landry and Howard Lutnick see bright future for Louisiana
U.S. Commerce Secretary Howard Lutnick said the pieces are in place for Louisiana to become the next generation’s economic powerhouse.
Flatland Fencing, January business updates make Lubbock headlines
Business Reporter Alana Edgin reviews recent Lubbock area business news and hints at upcoming articles in the weekly Around the Hub column.
Amazon’s layoffs are staggering. We’ve seen this before
Big Tech continues to wrestle with mass layoffs, most recently with Amazon’s announcement of 16,000 job cuts. It’s a trend that started long before the AI race: organizational change brought by the arrival of new technology.
PENN Entertainment, Inc. (NASDAQ:PENN) Receives Consensus Recommendation of "Hold" from Brokerages
PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) has received an average rating of "Hold" from the eighteen analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to
2 deaths, high cases reported in meningitis outbreak, Chicago Department of Public Health warns
The Chicago Department of Public Health has issued a new alert after two people recently died from a form of meningitis, and more cases than usual have also been reported in recent months.
USC puts height, rebounding up against smaller Rutgers
Southern California returns home to Los Angeles on Saturday for a Big Ten Conference tilt against a recently sputtering Rutgers squad.
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.
Veteran goalie James Reimer to lead Senators vs. Devils
The Ottawa Senators were in dire straits when it came to their goaltending situation. Starter Linus Ullmark recently stepped away to deal with some mental issues, and young backup Leevi Merilainen wasn't ready to replace him.
WMG’s Paul Robinson Accepts Entertainment Law Initiative Award: ‘Absolutely Thrilled’
WMG general counsel Paul Robinson received the Recording Academy’s 2026 Entertainment Law Initiative (ELI) Service Award. Here's a recap of the event.
Broncos interview top Commanders' assistant for offensive coordinator
The Denver Broncos are looking for a new offensive coordinator and recently interviewed a top Commanders' assistant.
UCLA aims to continue recent run against Indiana
Two Big Ten teams trending in the right direction meet when UCLA faces Indiana on Saturday at Los Angeles.
Former Steelers Wide Receiver Eyeing NFL Comeback In 2026
The Pittsburgh Steelers have had their hands full so far this offseason when it comes to sorting through their coaching mayhem. After Mike Tomlin’s stunning resignation, the team moved quickly to hire former Green Bay Packers and Dallas Cowboys head coach Mike McCarthy as his replacement. Since then, McCarthy has begun building out his coaching […]
Bill Gates denies allegations in Epstein email about 'trysts' and STD
A recently released email suggests that Bill Gates had asked for antibiotics to "surreptitiously" give to his now ex-wife, Melinda.
Health care costs top concern in new poll
Americans are more worried about affording health care than any other household necessity, according to a Kaiser Family Foundation poll published Thursday. The poll, conducted with 1,426 adul…
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, […]
Many Richmond businesses close as part of nationwide general strike against recent ICE actions
After many businesses throughout Central Virginia were forced to shutter their doors or alter their hours due to impacts from the winter storm, many have decided to close again on Friday, but for a…
Missouri sports betting tops $540 million in first month
Bettors in Missouri wagered more than half a billion dollars in December during the state’s first month of legalized sports betting, according to a new state report.
Missouri sports betting tops $543M in first month but deductions leave state with only $521K
Missourians placed more than half-a-billion dollars in bets on sporting events in December but promotional offers offset the taxable profits.
Catherine O’Hara, ‘Schitt’s Creek’ and ‘Home Alone’ actress, dies at 71
The beloved actress received a nomination for Best Supporting Actress on Television at this year's Golden Globes.
Black History Month at Hofstra Showcases Art, Politics, Culture, and Business
Black History Month, and every month, is an opportunity to educate, listen, and lift one another. Hofstra University offers a comprehensive selection of events, covering the arts, politics, history, and culture. Our Unfinished Revolution(s)Hofstra University Museum of ArtOpening reception, Th
Which free agents should the Denver Broncos re-sign?
Heading into the 2025 season, the Denver Broncos had several key players in the final year of their deals who would become free agents at the end of the year. However, the team did a lot of the heavy lifting throughout the year and signed defensive linemen Zach Allen and Malcolm Roach, wide receiver Courtland […]
Tech CFOs face a new challenge: Selling unprecedented capex as ‘disciplined’
Meta and Microsoft CFOs frame AI spending as disciplined, demand-driven.
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.
Can Apple's New AirTag Track How Many Fans Tim Cook Just Lost?
Apple releases the 2nd-gen AirTag and Creator Studio subscription in the middle of a tricky public relations week for CEO Tim Cook.
Radiologists continue to dominate in No Surprises Act payment disputes
The federal government recently released new data pertaining to the landmark legislation, meant to protect patients from receiving unexpected medical bills.
Businesses in Maine, across New England closed today for national ICE protest
Dozens of businesses in Maine and across New England will be closed on Friday as part of a national protest against recent U.S. Immigration and Customs Enforcement actions in Minneapolis and elsewhere. ICE was in Maine as recently as last week, and many Portland businesses have shut down for the day as a way of showing their solidarity with immigrant…
Activists call for a nationwide ‘blackout’ to protest against Trump’s violent immigration crackdown
Organizers say the demonstration is part of a growing non-violent movement
Fintech lender SoFi profit jumps on strong growth in fee‑based businesses
Consumers are shifting high-cost credit-card balances to fintech lenders to take advantage of low-interest personal loans. SoFi's financial services business, which includes credit card and investing products, saw revenue surge 78% in the quarter ended December 31 to $456.7 million. Fee-based businesses help insulate fintechs from interest-rate swings.
Here’s how Baton Rouge’s casinos fared in December
After two strong months in October and November, Baton Rouge’s casinos continued their upward trajectory in December. Collectively, the casinos posted $25.7 million in revenue for December, u… Already an INSIDER? Sign in. Already an INSIDER? Sign in
A man died covered in feces in the jail's mental health unit. Nothing changed.
There is a desperate need to invest in mental health care in San Antonio, but officials aren’t on the same page.
Event Recap: Fourth Annual Health Solutions Summit | Committee for a Responsible Federal Budget
2026-01-30-Despite a recent ice storm, over 200 people turned out for hot chocolate and health policy on January 28, 2026‘s for the Committee for a Responsible Federal Budget's Fourth Annual Health Solutions
Opinion | The Wyoming Business Council debate is missing one big piece
Wyomingites stand to lose much more than just a line item in the budget, writes the Wyoming Women’s Business Center Board of Directors.
Indy business owners say winter storm is freezing profits
Beloved Central Indiana shops and restaurants say the recent snowfall has made a difficult month of business even harder.
Atrium Health parent boosts pay for workers in Charlotte and the Carolinas
More than 165,000 Advocate Health workers to receive a bump in pay for minimum wage, as company expands health and retirement perks.
Fate of Colorado River hangs in balance as political battle brews
The fight over the dwindling Colorado River has long been nonpartisan. Now an unprecedented meeting of governors over the issue raises the political stakes.
Livingston v Motherwell: Pick of the stats
Tawanda Maswanhise has scored in his past three league appearances, while a goal here would make him the youngest player (23 years 72 days) to net in four successive Scottish Premiership outings since Malik Tillman for Rangers in April 2023 (20y 308d), and youngest for Motherwell in the top flight since Nick Blackman in November 2010 (21y 9d). Motherwell have only lost one of their past 15 league games (W9 D5), a 1-0 defeat at Rangers in December.
Apple buys secretive Israeli AI company Q.ai for $1.6 billion in biggest acquisition of its history
With the move, Apple aims to improve its access to AI technology, which has suffered recent setbacks, especially after several delays in deploying Apple Intelligence's full announced capabilities.
Newcastle United pushing hard to sign Barcelona youth team gem
According to a recent report from SPORT, a new name from Barcelona’s youth setup has begun attracting serious attention from across Europe. As such, Premier League side Newcastle United are making ...
Back to Future in the Eastern Mediterranean: Polarization Once Again?
Without doubt, by this alignment Israel, Greece and Greek Cypriots attempt to provoke Ankara in the Eastern Mediterranean.
Cooper Flagg posts 49 points, unprecedented for a teenager, in reunion with Kon Knueppel
The Mavericks rookie keeps looking more and more special, but it was the Hornets who took the win.
Phoenix businesses join nationwide 'ICE Out' to protest immigration raids
Several local businesses across the Valley will close their doors Friday, Jan. 30, as part of a nationwide "ICE Out" shutdown to protest recent federal immigration operations.
Northeast, Central Florida businesses say Google review bombers blackmailed them
Since opening his HVAC company in Jacksonville’s Pine Forest neighborhood less than two years ago, Aldi Gjeka has received 277 reviews on Google, 262 of which are five stars. The other 15 are one-star reviews, all of which were written within the same hour earlier this week.
Rep. Morelle calls for lawmakers to extend ACA tax credits
The House of Representatives recently approved a bill that would extend those tax credits for three years. It has yet to be voted on in the Senate.
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.
Nash County leaders warn of potential measles exposure at UNC Health Nash
The Nash County Health Department is alerting the public after an unvaccinated child who recently traveled internationally tested positive for measles following a visit to the UNC Health Nash Emergency Department.
'Very unfortunate': Fort Pierce Downtown business owners upgrade security after recent burglaries
Two Downtown Fort Pierce businesses were burglarized early Tuesday morning, prompting police to search for suspects and business owners to upgrade security.
Which Portland businesses are participating in the Jan. 30 general strike?
Some Portland restaurants, bookstores and cafes are shuttering for the day as part of a nationwide protest against Immigration and Customs Enforcement following recent shooting deaths by federal agents.
Santa Fe businesses to close Friday as part of nationwide anti-ICE protest
The Santa Fe closures are part of a national effort to convey dissatisfaction with recent actions of ICE officers in Minneapolis.
Fans Blast Ray J’s ‘Diabolical’ Health Update As A ‘Sympathy Ploy’ After Recent Legal Woes
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.
Philadelphia Phillies Get New Health Update on Zack Wheeler
The Philadelphia Phillies have built their recent success around a rotation that’s typically one of the best in baseball, but entering the 2026 season, particularly when it comes to ace Zack Wheeler, there are ways Philadelphia will have to navigate without him.
Contractor data breach nay have exposed the protected health info of thousands of Central Oregonians
BEND, Ore. (KTVZ) -- Thousands of Central Oregonians soon will receive letters in the mail to inform them of a data breach at TriZetto Provider Solutions last fall that may have exposed the personal health information of more than 700,000 people around the country. TPS is a third-party contractor that provides insurance-eligibility verification services to
A Business Owner Is Getting Divorced, Asks Dave Ramsey If He'll Lose The Business. 'She's Actually 98% Owner Of The Business And I'm 2% Owner'
A Texas business owner is facing a painful split, not just from his wife, but potentially from the company he helped build. He says he’s done almost all the work since 2021, but legally owns just 2% of the business. His wife holds the other 98%, a structure their accountant recommended for tax reasons. Divorce And Ownership Don't Match Up Manny, who shared his story on the “EntreLeadership” podcast recently with personal finance expert Dave Ramsey, said, “She’s actually 98% owner of the business
Multiple Upstate NY businesses to close Friday for national anti-ICE shutdown
Multiple cafes, restaurants and shops across Upstate New York will close their doors Friday in protest of recent federal immigration enforcement.
SkyLake Adventures teams with Butler Institute for Sports and Entertainment
Under the partnership, Butler University students will receive real-life experience in hospitality and entertainment, and real-life experiences and practical skills in marketing, social media and communications.
Polar bears getting "fatter and healthier" amid ice loss
Scientists think that Svalbard bears have adapted to recent ice loss by eating more land-based prey.
FOX Sports Unveils Historic FIFA World Cup 2026™ Broadcast Schedule - Fox Sports Press Pass
Monumental Slate Features 340 Hours of Live First-Run Programming Across FOX Sports Platforms for This Summer’s Global Event All-New Record 70 Matches on Network Television and Unprecedented 40 Matches in Primetime Every Match will Stream Live and On-Demand in 4K on FOX […]
SF: Zoo Penguins Receive Annual Health Check-Up
Dozens of penguins at the San Francisco Zoo and Gardens received their annual physical exam Thursday, getting their health checked from head to toe.
John Hancock CEO: We all have a role in driving better health outcomes for Americans
I recently testified before the U.S. Congress Joint Economic Committee on improving long-term health outcomes and reducing healthcare costs.
Exclusive: UK’s Schroders discussed private capital tie-ups in growth push, sources say
Schroders has held high-level talks about potential tie-ups to speed up the growth of its private capital business, three people familiar with the matter told Reuters, as the 222-year-old British asset manager seeks to gain scale.
Mastercard to Cut 4% of Full-Time Employees After Business Review
The company is the latest of several to announce plans for sweeping job cuts in recent days.
FAU Honors Craig Zinn as Business Leader of the Year
Florida Atlantic University’s College of Business recently hosted a ceremony to honor Craig Zinn, an American automotive entrepreneur and philanthropist, as its 31st “Business Leader of the Year” event.
Are These Unprecedented Times for Science, Really?
A science historian looks to the past to understand our current moment, and how ghostwriting in scientific papers is harming public trust.
Google Chrome Gets Gemini Side Panel and Agentic Browsing Features
AI-powered browsing features have become a battleground among browser makers in recent months. OpenAI launched its Atlas browser in October, while Microsoft Edge and Opera have also introduced AI assistants and automated browsing capabilities. And now Google is upping the ante. The company has announced a slew of new AI features fro Chrome, including a persistent sidebar for the Gemini chatbot and "auto browse" capabilities that can perform web tasks on your behalf.
Hungary Business Confidence Drops as Orban’s Stimulus Falls Flat
Hungarian business confidence dropped sharply at the start of the year, reversing recent gains in another blow to Prime Minister Viktor Orban before parliamentary elections.
How Stephen Miller micromanages Trump’s immigration policies
Stephen Miller has sought this week to distance himself from the recent fatal shootings in Minneapolis and the administration’s miscalculated response. But more than anyone, Miller has been the overall architect of Trump’s aggressive deportation push, encouraging heavy-handed operations in blue cities, and urging agencies to cast a wide net to meet hefty arrest quotas.
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.
Trump’s National Guard deployments have cost taxpayers nearly $500 million dollars
President Donald Trump’s sweeping deployment of National Guard troops to several major cities across the United States cost taxpayers approximately $496 million from June through December last year, according to an estimate from the Congressional Budget Office.
Alibaba to merge with China's Zelos on $2 billion robovan business, WSJ reports
Alibaba's logistics arm plans to merge its autonomous-driving unit Cainiao with China's Zelos Technology, forming a new entity valued at approximately $2 billion, the Wall Street Journal reported on Thursday, citing sources familiar with the matter.
Galaxy Buds 4 and Buds 4 Pro leak brings good news for potential buyers
Samsung may not increase the price of the Galaxy Buds 4 and the Galaxy Buds 4 Pro compared to their predecessors, at least in Europe.
Samsung fast paces One UI 8.5 Beta 4 update release work
After a brief pause, One UI 8.5 Beta has returned on track as Samsung speeds up work on the Beta 4 update. The latest development signals that users of the Galaxy S25 series will soon receive a new Beta software update. As spotted by TarunVats, Samsung is now working on a new One UI 8.5 Beta […]
Justice Department bracing for more resignations in Minnesota
The Justice Department is bracing for a new wave of resignations in the Minnesota federal prosecutors’ office over recent immigration enforcement efforts in the state, sources familiar with the matter said.
Titans reportedly to hire Greg Lewis as wide receivers coach
The Tennessee Titans have reportedly found their new wide receivers coach.
8 Santa Monica Businesses Win Green Certification Awards
8 Santa Monica businesses received Green Business Certification on January 16th at the YMCA, recognizing their sustainable practices and environmental leadership.
Calif. politicians introduce Minneapolis-inspired bill
The bill is the most recent from California lawmakers responding to ICE raids.
Teen Mental Health and School-Based Services in California
About 3 in 10 California teens report serious psychological distress, yet significant gaps exist between the need for mental health care and receipt of services. This report examines teen mental health and access to care across demographic groups and describes how state and district funding have expanded school-based solutions.
Policy Brief: Teen Mental Health and School-Based Services in California
Rates of chronic sadness and suicidal thoughts in teens have been rising in California—and nationwide—since about 2009. Significant gaps exist between the reported need for mental health care and receipt of services. The state has recently invested $8 billion for child and teen mental health, including school-based services.
Meta Says Revenue to Beat Estimates, Supporting AI Spending
Meta Platforms Inc.’s better-than-expected sales outlook helped ease Wall Street concerns about plans for unprecedented spending on artificial intelligence this year.
Ray J says he has only a short time left to live after hospitalization: 'Heart is only beating, like, 25 percent'
Ray J says he was notified by doctors that he only has a short time left to live after his recent hospitalization: 'My heart is only beating, like, 25 percent.'
Google brings its Nano Banana image generator to Chrome
Following its recent AI makeover of Gmail, Google is bringing more Gemini-powered tools to Chrome. Starting today, a host of new features are rolling for the browser, with more to come over the next few months.
Footy Fix: Catch Champions League action only on Paramount+
All eyes will be on Napoli where Chelsea chase top 8 and the hosts look to sneak into the top 24
Read the email Amazon is sending to laid-off employees
The notifications state that employees will receive full pay and benefits for 90 days.
Moto G77 launches with a 108MP camera with 3x lossless zoom, 120Hz AMOLED display, and an IP64 rating
Motorola has grown its Moto G series line of smartphones with the launch of a new model. The new Moto G77 has a new camera, a bigger battery, and a brighter display than its predecessor, the Moto G75.
4 Incredible Techniques Combine to Advance Dark Energy Science
Big, recent investments are paying off as the world's dark energy observatories continue to produce results.
‘Rodent droppings, live roach’: Jefferson County’s worst January 2026 restaurant health ratings
In January, 11 restaurants, convenience stores and other food establishments received scores of 84 or below.
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
Investing in high performance sports
Germany’s athletes have received increasing funding and support since the Olympic Games Munich 1972, support that has translated into greater success at the highest level.
MLB teams that spent the most money this offseason
The hot stove has officially cooled into a pile of ash and receipts. While some front offices spent the winter guarding their wallets, others treated the luxury tax threshold like a mere suggestion, handing out nine-figure contracts to reshape the…
AI boom will produce winners and ‘carnage,’ says tech boss; dollar sinks to four-year lows after Trump comments
Cisco chief executive says technology ‘will be bigger than the internet’ but current market is probably a bubble; dollar selling intensifies, gold climbs through $5,200 an ounce to new record high
India reports two Nipah virus infections as Thai, Malaysia step up screening
India is monitoring Nipah virus infections, with two reported from its eastern state of West Bengal since December, the health ministry said, as some Southeast Asia nations step up scrutiny of air travellers.
Spurs’ Victor Wembanyama pinpoints biggest challenge in Rockets matchup
In the midst of a lull, Victor Wembanyama and the Spurs are eyeing their rival Rockets in a rematch of a very recent game.
Is Teladoc Health (TDOC) A Potential Opportunity After Prolonged Share Price Weakness
If you are wondering whether Teladoc Health at around US$5.91 is a bargain or a value trap, this breakdown is designed to give you a clear, structured view of where the stock stands today. The share price has retreated recently, with a 2.6% decline over the last 7 days, a 17.0% decline over 30 days, a 16.2% decline year to date, and a 43.8% decline over the past year, on top of a much larger 79.9% decline over 3 years and 97.8% over 5 years. Recent coverage around Teladoc Health has focused...
Galaxy S26 confirmed to feature satellite communication
The Galaxy S26, Galaxy S26+, and the Galaxy S26 Ultra have received FCC certifications, confirming they feature satellite communication.
Do trees prevent landslides? What science says about roots, rainfall and stability
After the fatal landslides at Mount Maunganui, attention has focused on recent tree removal from Mauao. But landslides rarely have simple causes.