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Clemson Data Science Students Help Ohio Energy Company Tackle Environmental Risk and Workforce Gaps
The need aligned with the applied learning mission of Clemson’s M.S. DSA program. The program, housed in the Department of Management within the Wilbur O. and Ann Powers College of Business, is an online degree developed cooperatively by Clemson’s School of Mathematical and Statistical Sciences and Department of Management.
Central Minnesota man accused of running fake business, committing SNAP, medical assistance fraud
Bungie says 'no second chances' if you're caught cheating in Marathon
Anyone caught cheating in Marathon will receive a permanent ban from Bungie, which announced a one-and-done stance.
Trump Considers Targeted Strike Against Iran, Followed by Larger Attack
The top negotiators plan to meet in Geneva on Thursday for last-ditch talks, debating a new proposal that could create an off-ramp as two carrier groups massed within striking distance of Iran.
Trump Considers Targeted Strike Against Iran, Followed by Larger Attack
The top negotiators plan to meet in Geneva on Thursday for last-ditch talks, debating a new proposal that could create an off-ramp as two carrier groups massed within striking distance of Iran.
Prisoners in Scotland 'face mental health and substance use crisis' after release
People released from prison in Scotland are facing a mental health and substance use crisis, according to new research. The study tracked more than 8,000 former prisoners over four years to assess their ...
Science journalism on the ropes worldwide as U.S. aid cuts bite
Federal freezes to foreign assistance are affecting grants for investigative reporters everywhere—but especially in poorer countries
Denmark Rejects Trump’s Plan to Send Hospital Boat to Greenland
Denmark’s defense minister said Greenland did not need health care assistance, a day after President Trump said he planned to send a “great hospital boat” to the island.
Denmark Rejects Trump’s Plan to Send Hospital Boat to Greenland
Denmark’s defense minister said Greenland did not need health care assistance, a day after President Trump said he planned to send a “great hospital boat” to the island.
WORC offering small business assistance
State lawmakers and members of the Shapiro administration recently announced the launch of the Women’s Opportunities Resource Center PA Small Business
Scientists may have found the holy grail of quantum computing
Scientists may have spotted a long-sought triplet superconductor — a material that can transmit both electricity and electron spin with zero resistance. That ability could dramatically stabilize quantum computers while slashing their energy use. Early experiments suggest the alloy NbRe behaves unlike any conventional superconductor. If verified, it could become a cornerstone of next-generation quantum and spintronic technology.
In Berlin, there are movies, there's politics and there's talk about it all
Buzz around whether the city's film festival would take a stance on the war in Gaza has dominated conversation in recent days.
Coach V’s Corner: Sports tidbits
A few days back, I came across an old Sports Illustrated article from 1988 about a mountain runner from the village of Jemez Pueblo, New Mexico, named Al Waquie. Anything written about distance runners has...
Square Enix explains why Final Fantasy 7 Remake wouldn't be possible on Nintendo Switch 2 without game-key cards
Square Enix’s Naoki Hamaguchi has again commented on game-key cards, and now directly spoke about why we wouldn’t be seeing Final Fantasy 7 Remake on Nintendo Switch 2 if they didn’t exist. Despite some backlash, many publishers have been bringing out their titles as game-key cards. Final Fantasy 7 Remake was one instance of this, and it’ll be happening again...
Rethinking the Wine Business: How Kirk Drake Infuses AI and Personality Into Resistance Wine Company’s Growth Strategy
Producing a good quality wine represents only one dimension of building a sustainable winery.
United States and Madagascar to Implement $175 Million Five-Year Health MOU - U.S. Embassy in Madagascar
United States and Madagascar to Implement $175 Million Five-Year Health MOU U.S. and Malagasy health officials are convening in Antananarivo for a two-day joint review process, marking the first major step in implementing the strategic health cooperation framework established in the Memorandum of Understanding (MoU) signed between the two countries in December 2025. The MoU outlines the structure and terms of U.S. support to Madagascar’s health sector from 2026 through 2030, with a total commitment of $134,305,000 from the U.S. Government and $41,216,252 from the Government of Madagascar working jointly to address malaria, maternal and child health, polio and global health security issues. This approach reflects the America First Global Health Strategy by prioritizing effective, results-driven cooperation that advances mutual health security and supports Madagascar’s progress toward self-reliance and independence from foreign assistance. The events bring together U.S. Government health experts and Madagascar’s Ministry of Public Health leadership to conduct a comprehensive review of seven major health programs currently supported by United States funding, discussing current activities, and developing recommendations for programs to align with the signed Memorandum of Understanding, which advances both the America First Global Health Strategy and the Government of Madagascar’s goals. “This memorandum sets the course for U.S. strategic cooperation and support to Madagascar’s health sector over the next five years,” said Chargé d’Affaires Stephanie Arnold at the workshop’s opening. This review will help determine how to maximize the effectiveness and impact of these programs, ensuring resources provided by U.S. taxpayer dollars are used wisely,” she added. “By working together to address global health challenges, we demonstrate America’s leadership and commitment to a safer, healthier world, making both the United States and Madagascar healthier and stronger.” Under President Trump’s leadership, the United States is implementing a Global Health Strategy for foreign assistance that emphasizes increased host country ownership, resilient health systems and human resource capacity to reduce dependency, maintaining frontline support to reduce infectious disease threats, and strong performance monitoring systems for accountability and service delivery. “Diseases do not respect borders, and when we support Madagascar’s capacity to detect, prevent, and respond to infectious disease threats, we are contributing to global health security that benefits communities both here and in the United States,” Arnold emphasized, noting that “The MoU represents a commitment to transparency, accountability, and results.” The United States recognizes the commitment of Malagasy leadership in prioritizing investment of time and significant resources on the healthcare of their own citizens. With recent changes in leadership, Madagascar has an opportunity to strengthen governance, improve performance, and move forward toward greater self-reliance, particularly in the healthcare sector. Through strategic focus and thoughtful collaboration under this MoU, U.S. health programs in Madagascar will deliver meaningful results that advance both countries’ interests while supporting Madagascar’s journey toward greater self-reliance and a healthy future.
Breakthrough CRISPR system could reverse antibiotic resistance crisis
Antibiotic resistance is racing toward a global crisis, with “superbugs” projected to cause over 10 million deaths annually by 2050. Now, scientists at UC San Diego have unveiled a powerful new CRISPR-based tool that doesn’t just fight resistant bacteria—it can actively strip away their drug resistance. Inspired by gene drives used in insects, the technology spreads a genetic “fix” through bacterial populations, even inside stubborn biofilms that shield microbes from antibiotics.
Kevin James accused of being MAGA after punting political questions, says he focuses on fun
Social media users debated Kevin James' political stance after he refused to discuss politics recently, with some praising his approach while others suspect he has conservative views.
Report: Tuition Assistance Program not keeping up with inflation, tuition costs
The state comptroller also said that undergraduate TAP recipients dropped by 21%, or 77,000 students.
Giants' Patrick Bailey makes a notable adjustment to improve from the right side of the plate
San Francisco Giants catcher Patrick Bailey made an adjustment to his batting stance from the right side of the plate.
Banijay Entertainment to Hit London TV Screenings With ‘A Woman of Substance’ and ‘Falling,’ Plus an Expansive Format Slate Lead by ‘Football Island’ (EXCLUSIVE)
Banijay’s slate is led by big U.K. dramas and ‘Wallander,’ plus an amped up format portfolio.
Beeghly Fellows Program connects WCBA students with real-world business impact
Through a unique fellowship that blends applied learning with direct service to regional businesses, five Williamson College of Business Administration students have been selected as the Spring 2026 John D. Beeghly Fellows at Youngstown State University.Aaron Lesner, Jan Harter, James Slessor, Tanishka Agnihotri and Moritz Bayer will serve as paid fellows supporting the Ohio Small Business Development Center (SBDC), the Ohio SBDC Export Assistance Network (EAN), and the Ohio APEX Accelerator at YSU.
The race to succeed McConnell showcases how the GOP has soured on him
Three GOP candidates, all former McConnell interns, are keeping their distance as they seek to align with Trump.
Rashid takes unusual 700th wicket as Afghanistan beat UAE
Rashid Khan claims his 700th T20 wicket in unusual circumstances as Afghanistan keep their faint World Cup hopes alive with a five-wicket win over United Arab Emirates.
Loveland to eye business-assistance pact for new Costco
Big-box membership retailer Costco could soon be coming to the Centerra development in east Loveland if the City Council approves a business-assistance agreement at its regular meeting Tuesday.
Snakes keep evolving into cannibals — here's what scientists think is going on
A review of over 500 reports of cannibalistic behavior in snakes finds it's appeared multiple times in different evolutionary lineages, leading researchers to hypothesize it's beneficial for snakes under certain circumstances.
Politics chat: Government shuts down over DHS funding, Trump gets pushback from GOP
President Trump seems to lose some of his grip on his base as the Department Of Homeland Security shuts down amidst resistance to changes to immigration enforcement.
Real-Time 3D Room Mapping With ESP32, VL53L5CX Sensor And IMU
ST’s VL53L5CX is a very small 8×8 grid ranging sensor that can perform distance measurements at a distance of up to 4 meters. In a recent video,[Henrique Ferrolho] demonstrated that this…
Rural Minnesotans of color skipping medical care out of fear of ICE
Medical providers are increasingly concerned that some of their rural patients who need to drive long distances to see specialists are missing appointments because they fear being picked up by federal immigration agents. They're especially worried about children who need treatment for chronic illnesses or conditions that could turn critical if they skip vital treatments.
Marco Rubio’s speech to European allies takes softer tone but sticks to Donald Trump’s firm stance
'I’m here today to make it clear that America is charting the path for a new century of prosperity.'
WEST SEATTLE CRIME WATCH: Business break-in attempt
The report is from Jen, who says two people tried to break into The Void and Little Shop of Hairdos just south of The Junction early today, and sent images: 5:10 this morning, these two tried to break into The Void and the back door to Little Shop, met with too much resistance and interrupted by a neighbor. Appears to be the same MO and two ...
Spring sports physicals for grades 7-12
All student-athletes interested in trying out for a spring sport must have an up-to-date physical submitted to FinalForms in advance of the March 9 start to the season for high school sports and in advance of the March 23 start to the season for modified sports. Families are encouraged to schedule a visit with their child's provider to secure a completed physical form. If this is not possible, the district physician will offer sports physicals at Albany High School, William S. Hackett Middle School, North Albany Middle School and Stephen and Harriet Myers Middle School. The schedule is outlined below. No appointment is necessary. If you have any questions or need additional assistance, please contact the Athletics Office at (518) 475-6310. Let's go Falcons! Sports physicals schedule: Albany High March 4 10:30 a.m. Room 1130 Albany High March 5 10:30 a.m. Room 1130 Myers March 17 10:30 a.m. Health Office Hackett March 18 10:30 a.m. Health Office North Albany March 19 10:30 a.m. Health Office
Analysis: How the anti-Trump resistance is slowly stirring
Donald Trump, who once claimed, “I have the right to do whatever I want as president,” isn’t always getting it all his own way anymore.
Takeaways: Enforcement surge ending in Minneapolis as state and DHS officials face tough questions in Senate
While White House border czar Tom Homan announced Thursday morning the federal immigration surge in Minnesota would be ending, state officials were facing tough questions about the circumstances that led to that crackdown in the first place.
Gabbard Whistleblower Complaint Based on Intercepted Conversation About Jared Kushner
The substance of the conversation, which covered in part issues related to Iran, isn’t known.
Cannabis Rescheduling to Schedule III – Key Implications for Your Business
A recent presidential executive order directs the rescheduling of cannabis from Schedule I to Schedule III under the Controlled Substances Act. While the
Walz readies aid package for Minnesota businesses affected by ICE surge
Minnesota Gov. Tim Walz is expected propose a federal surge response package to support Minnesota businesses impacted by the federal presence later Thursday morning.
Older Americans are driving a gray-shaped economy
Nearly all of the job growth in January came from the health care and social assistance sectors.
6 years after political comeback, Biden faces cold shoulder from fellow Democrats
Biden's political influence wanes as Democratic candidates distance themselves from the former president ahead of 2024 races, marking a stark shift.
Netanyahu to push Trump to take tough Iran stance during White House visit
Israeli PM is expected to press the president to take a harder line over Iran’s nuclear program
FDA declines to review Moderna's mRNA flu shot
Under Health Secretary Robert F. Kennedy Jr., the Food and Drug Administration has taken an aggressive stance against mRNA technology.
Kaiser reaches $30 million settlement with US Labor Dept over mental health care practices
The U.S. Department of Labor on Tuesday said it has settled with Kaiser Foundation Health Plan to resolve multiple investigations into the company's practices on mental health and substance use disorder services.
A simple discovery is shaking the foundations of spintronics
A long-standing mystery in spintronics has just been shaken up. A strange electrical effect called unusual magnetoresistance shows up almost everywhere scientists look—even in systems where the leading explanation, spin Hall magnetoresistance, shouldn’t work at all. Now, new experiments reveal a far simpler origin: the way electrons scatter at material interfaces under the combined influence of magnetization and an electric field.
Planning ahead: the political leadership campaigns that launched too soon
As ‘Rayner for leader’ site goes live, here are previous instances of politicians jumping the gun
How do scientists hunt for dark matter? A physicist explains why the mysterious substance is so hard to find
Dark matter doesn’t seem to interact with the matter we can see and touch, so scientists look for it in unusual places, like faraway galaxies and underground detectors.
Opinion | Music Softens the Hard Reality of Politics
Budapest Festival Orchestra conductor Iván Fischer wants his work to bridge the distance between the U.S. and Europe.
‘It does not make any sense to me,’ Gov. Moore on Democratic resistance to redrawing Maryland’s Congressional maps
Voters are worried about the cost of housing. But Donald Trump wants home prices to keep climbing
Many Republicans worry Trump's housing stance will alienate younger voters who helpe him return to the White House.
Super Bowl 2026 Performers List for National Anthem, Halftime Show Entertainment
The Super Bowl is the biggest football game of the year for the NFL but while the Seattle Seahawks and New England Patriots will battle it out for the right to hoist the Lombardi Trophy, the pomp and circumstance surrounding the game is often as noteworthy as the play on the field.
Louisiana is trying to avoid a nearly $100 million penalty by fixing errors in food stamp program
With $95 million on the line, Louisiana health officials are rolling out cash bonuses, tighter reviews and new wage checks to reduce errors in SNAP, the food assistance program serving one in five households statewide.
Record-Breaking One-Off Bugatti Brouillard Could Become the Most Expensive Bugatti Ever
A one-off aimed at a historic record Bugatti’s latest one-off, the Brouillard, steps onto the hypercar stage with the quiet confidence of a record-breaker. The brand’s tradition of bespoke excellence meets a bold new aesthetic, positioning this unique commission to potentially become the marque’s most expensive creation. Built on the proven underpinnings of the Chiron/Mistral architecture, yet transformed by distinctive craft, the Brouillard is both homage and innovation. A name born from equestrian legend More than a century ago, a striking white horse captivated Ettore Bugatti in Molsheim. That equine myth now informs the car’s name and its sensory identity. The result is an automotive portrait of athletic grace—surfaces that read like muscle, curves that suggest motion, and details that quietly speak of discipline and heritage. Embroidered horse motifs on door panels and seat backs echo the story, while a miniature glass sculpture of the steed crowns the shifter. Sculptural design with purpose The Brouillard’s silhouette favors sinuous surfaces over hard creases, allowing light to glide over its form like a tendon under skin. Aerodynamics inform elegance: an integrated ducktail replaces a deployable wing, cleansing the airflow and boosting stability at speed. Its stance is athletic, its volumes taut, and its visual language unmistakably Bugatti. “Sculptural, organic forms—like a tendon beneath the skin—hide immense power behind noble simplicity,” said design chief Frank Heyl, capturing the car’s philosophy in a single stroke. Craft elevated to an art The cabin embraces craftsmanship at an uncommon level. Custom-woven textiles from Paris introduce a discreet tartan pattern, while green-tinted carbon fiber nods to the exterior’s hue. A glazed roof creates a cathedral atmosphere, bathing the cockpit in natural light. A central spine appears to flow from exterior to interior, emphasizing continuity and structure. Highlights include: Custom textiles with subtle tartan motifs Green-tinted carbon fiber matched to the exterior finish A “cathedral” glass roof that elevates cabin ambience A sculptural centerline linking outside to inside Bespoke embroidery and glass equine detail W16 power at its absolute apex Under the sculpted skin, the final evolution of Bugatti’s 8.0‑liter, quad‑turbo W16 delivers a thunderous 1,600 hp at 7,050 rpm and 1,600 Nm of torque. This represents the pinnacle of nearly two decades of Bugatti engineering, honed to an ultimate state. The lightweight monocoque blends carbon fiber with aluminum, holding mass to around 1,900 kg for poise and control. Experts suggest the Brouillard could surpass the 282 mph (454 km/h) achieved by the Mistral, aided by more aerodynamic bodywork and the fixed ducktail. Whether or not it sets a new benchmark, its intent is clear: relentless speed paired with refinement. Exclusivity with an exacting timeline The commissioning process is intensive, with roughly 18 months of development leading to a 2027 delivery. Bugatti’s program limits itself to no more than two creations per year, ensuring focus and rarity. Each example leaves the atelier as a singular vision, shaped to the client’s collection and the brand’s ethos. An unveiling is planned for Monterey Car Week 2025, placing the Brouillard amid the world’s most discerning enthusiasts. Its patron is a European collector deeply invested in the Bugatti universe, from historic and modern cars to Carlo Bugatti furniture and Rembrandt Bugatti bronzes. A valuation poised to make history While Bugatti has not disclosed an official price, informed estimates place the Brouillard between €10 million and €30 million. Context matters: a series Mistral begins near €5 million, while the Brouillard adds profound personalization, sculptural changes, and a pace of production that keeps scarcity front and center. In an arena where uniqueness drives value, the path to a brand record is unmistakably open. What it signals for the marque The Brouillard crystallizes Bugatti’s dual identity: traditional savoir‑faire intertwined with boundary-pushing performance. It exhibits a narrative soul—the white horse of Molsheim—woven into modern materials and world-class aerodynamics. As a rolling statement, it reaffirms that the Bugatti idea is larger than speed alone; it is about story, craft, and the courage to pursue an ideal to its logical limit.
Lawmakers approve $10M for western Wisconsin mental health and treatment facility
Wisconsin lawmakers have released $10 million to help construct a new mental health and substance abuse treatment center in western Wisconsin.
Potential Impacts of Trump Administration H-1B Visa Policies on the Health Care and Social Assistance Industries
This issue brief provides an overview of the H-1B visa program, analyzes trends in H-1B visa approvals for the health care and social assistance industries using data from the U.S. Citizenship and Immigration Services, and discusses potential implications of recent policies impacting the H-1B program on the U.S. health care workforce.
SAMHSA Distributes Nearly $800 Million in Block Grants Nationwide for Community-Based Mental Health and Substance Abuse Programs
SAMHSA, recently distributed $794 million in block grant funding across the United States and territories for community mental health services and substance abuse treatment and prevention.
Extra SNAP benefits, small business loans available in N. Louisiana after winter storm
Food stamp recipients and small business owners in parts of North Louisiana are eligible for federal disaster assistance to cover their losses from the recent severe winter weather.
Football, politics, and protest: This year’s Super Bowl comes at a tinderbox moment in the US
The NFL faces pressure to take a stance against the Trump administration's immigration policies ahead of the Super Bowl.
Football, politics and protest: This year's Super Bowl comes at a tinderbox moment in the US
The NFL faces pressure to take a stance against the Trump administration’s immigration policies ahead of the Super Bowl
Football, politics and protest: This year's Super Bowl comes at a tinderbox moment in the US
The NFL faces pressure to take a stance against the Trump administration's immigration policies ahead of the Super Bowl
WATCH: RFK Jr. and others launch new addiction and homelessness initiative
Health Secretary Robert F. Kennedy Jr. on Monday announced that his department will devote $100 million toward a pilot program addressing homelessness and substance abuse in eight cities, building on an executive order President Donald Trump signed last week related to addiction.
How Olympic athletes use science to win, according to an expert
Ahead of the Winter Olympics, a Virginia Tech aerodynamics expert breaks down how air resistance can determine who medals — and how some athletes try to bend the rules.
International companies cut off business in the U.S. because of ICE
French multinational Capgemini moved to distance itself “immediately” from ICE after criticism from French officials; a Canadian company has also canceled a sale to the agency.
Minneapolis is showing a new kind of anti-Trump resistance
Is this what democracy looks like?
Companies are ditching business with ICE
The backlash against ICE has grown beyond US borders, with companies taking action to distance themselves from the federal agency.
Companies are ditching business with ICE
The backlash against ICE has grown beyond US borders, with companies taking action to distance themselves from the federal agency.
Open for Business: Orange County Launches New Business Resource Office
Small business owners and entrepreneurs now have access to a new Orange County resource hub connecting them with programs, tools, financial assistance and training to help them grow and succeed.
Toy Association Advocates for Science-Based Approach to California Microplastics Review
On January 30, The Toy Association™ submitted comments to the California Department of Toxic Substances Control (DTSC) in response to the agency’s request for information regarding consumer products that contain or generate microplastics, including c
Newsom leads resistance to RFK Jr.’s public health upheaval
California Gov. Gavin Newsom (D) is making California the frontline in the resistance to the Trump administration’s revamped healthcare policies under Health Secretary Robert F. Kennedy Jr, in what…
UF Health patients left confused, frustrated after gender-affirming care ban
The SHCC encouraged students utilizing gender-affirming care to seek alternative health care providers. It offered assistance in finding alternative providers and transferring medical records.
Texas Republicans shift messaging around ICE tactics amid election-year risks
With midterm elections approaching, Texas Republicans are publicly questioning ICE's tactics following deadly and controversial enforcement actions. Analysts say the rhetoric reflects growing political vulnerability rather than a true break from the party's tough stance on immigration.
Zoning change sought to turn southeast Rochester hotel into behavioral health facility
A zoning change will be considered Monday for a 25-year-old southeast Rochester hotel eyed for conversion into a 94-bed substance-abuse treatment facility.
Trump says federal government won’t step into protests in Democratic-led cities ‘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, amid criticism over heavy-handed immigration enforcement tactics used by the feds.
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.
Paul Joyce: Liverpool Won’t Allow Jones Departure
Liverpool stance firm as Curtis Jones interest surfacesLiverpool’s January posture has been defined by restraint, and the reporting from Paul Joyce of The Times sharpens that picture. With days left...
Florida healthcare advocates protest cuts to state's AIDS Drug Assistance Program
Outside the Department of Health in St. Pete and Orlando Friday, healthcare advocates and the AIDS Healthcare Foundation (AHF) protested the proposed cuts to Florida’s AIDS Drug Assistance Program (ADAP).
New triple-drug treatment stops pancreatic cancer in its tracks, a mouse study finds
By targeting three key growth pathways at once, researchers eliminated pancreatic tumors in multiple mouse models and prevented the cancer from returning, a promising step toward overcoming treatment resistance.
Dallas County grapples with mixed signals on federal mental health funding
The White House administration notified mental health and substance abuse and addiction provider organizations nationwide that by executive order, $2 billion in already awarded federal funding would be taken back.
Why the UK’s toughest immigration voices are often politicians of colour
As parties harden their stance on borders, minority politicians have become political cover against racism accusations.
IDF officials shift stance, accept Gaza Health Ministry data on death toll
After two years of war, senior military officials for the first time aligned with an update from Gaza’s Hamas-run Health Ministry, saying they estimate about 70,000 Gazans have been killed, excluding the missing, while stressing that efforts to distinguish terrorists from civilians are ongoing
AARP Examines the Importance of State Health Insurance Assistance Programs
Last month, the AARP Public Policy Institute released a report on the State Health Insurance Assistance Programs (SHIPs), outlining the critical role these Medicare counselors have in improving beneficiary health and well-being. SHIPs provide objective, free, one-on-one assistance to Medicare beneficiaries, their families, and caregivers. With locations in every state, over 2,000 offices in communities […]
Health Care Provider Consolidation
I. Issue Overview Ongoing consolidation among hospitals, physician practices, and other providers poses a serious challenge to the U.S. health care system—offering potential benefits to some but also with significant worrying impact on rising health care prices. Provider consolidation remains pronounced among both hospitals and physician practices. The share of hospitals operating independently declined from … Continued
John Leguizamo under fire for demanding fans choose between him and ICE
John Leguizamo sparks controversy telling ICE supporters not to follow him or watch his movies. Fans remain divided over the actor's bold stance.
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.
Senate committee reviews Gov. Beshear’s budget proposal
The proposal dedicates $500 million of the budget reserve trust fund to affordable housing, rural hospital assistance and food assistance.
Trump has 'dementia', is 'obsessed,' Ilhan Omar says following attack
The Minnesota Democrat’s comments come in the wake of an attack on her Jan. 27 where a man sprayed her with an unknown substance.
Ray J Says He’s in His ‘Last Days’ Due to Deteriorating Heart Health: ‘I F-cked Up’
Ray J said he has months to live due to a heart condition stemming from substance abuse and claimed his sister Brandy is covering his medical bills.
‘I don’t let bullies win’ Ilhan Omar says after attack, as Trump says he will ‘de-escalate’ in Minneapolis
President had mocked congresswoman hours before she was sprayed with unknown substance during a town hall event
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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