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Results for " defense " 1,764 found 🔀 AI-powered Shuffle

North Carolina businesses fall short in defense contracts

Last Thursday, I was at RTI International in RTP to hear Peter Singer talk about “The Story of the Future: What Trends Most Challenge National Security Leaders?” Singer, who grew up in Charlotte, has a doctorate from Harvard. He is Strategist and Senior Fellow at New America. He has been named by Defense News as […]

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Feb 25 • 7:15 AM EST • Business • businessnc.com
The Transatlantic Defense Business Politics Can’t Break

The foundations of the Atlantic alliance are shifting in ways not seen since the early days of the Cold War. Washington is no longer simply urging greater

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Feb 25 • 3:15 AM EST • Business • warontherocks.com
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The Transatlantic Defense Business Politics Can’t Break

The foundations of the Atlantic alliance are shifting in ways not seen since the early days of the Cold War. Washington is no longer simply urging greater

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Feb 25 • 3:15 AM EST • Politics • warontherocks.com
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Memorial’s JJ Lowery claims Play of the Week

HENDERSON, Ky (WEHT) – After counting up the votes, Memorial’s JJ Lowery’s finesse lay-up from week seven of Home Team Friday After the Buzzer claimed the Play of the Week. Lowery’s lay in received 98.8 percent of all of the votes to win the poll. During the play, Lowery comes down in transition attacks the defense […]

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Feb 25 • 12:22 AM EST • Sports • sports.yahoo.com
Winners and Losers: Cavs vs Knicks – Defense leads the way

The Cavs defense secured them the win tonight.

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Feb 24 • 11:18 PM EST • Sports • sports.yahoo.com
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Self-defense company finds major benefits after moving manufacturing from overseas to US

Byrna Technologies CEO Bryan Ganz moved manufacturing from South Africa to Indiana before President Donald Trump's tariffs, saying the company "correctly surmised" onshoring benefits.

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Feb 24 • 10:17 AM EST • Business • foxbusiness.com
An unlikely winning streak, ACC player of the year and a coach carousal update

Rice has won 19 games in a row behind elite defense, Duke's Toby Fournier has a case for ACC awards and Joni Taylor's seat has cooled at Texas A&M.

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Feb 24 • 9:38 AM EST • Sports • usatoday.com
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Pentagon Races to Spend $153 Billion in Added Funds for Military

The Trump administration for months ignored Congress’s demand for a plan on how the Defense Department would spend the money that Republicans pushed through in their sweeping domestic policy bill.

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Feb 23 • 11:10 PM EST • Politics • nytimes.com
Victor Wembanyama blocks Pistons win streak, outplays Cade Cunningham

Victor Wembanyama pestered by swarming Detroit Pistons defense, but Devin Vassell pushed San Antonio Spurs to victory past putrid Cade Cunningham.

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Feb 23 • 10:01 PM EST • Sports • sports.yahoo.com
Pentagon Flags Risks of a Major Operation Against Iran

The warnings have been led by Gen. Dan Caine, chairman of the Joint Chiefs of Staff, within the Defense Department and during meetings of the National Security Council.

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Feb 23 • 2:09 PM EST • Politics • wsj.com
Vikings’ 2026 Draft Defense Overhaul Explored

Vikings need youth on defense. Dave & Darren discuss draft strategy, linebackers, Combine buzz & Rondale Moore tribute.

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Feb 23 • 11:09 AM EST • Sports • sports.yahoo.com
Thanks but no thanks: Trump’s hospital ship plan provokes defense of Greenland health care system

U.S. President Donald Trump said he would deploy a hospital ship to Greenland, alleging that many people there are sick and not receiving care, even though both of the U.S. Navy’s hospital ships are currently docked at a shipyard in Alabama.

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Feb 22 • 2:58 PM EST • Health • wral.com
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.

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Feb 22 • 7:53 AM EST • Politics • nytimes.com
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.

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Feb 22 • 7:53 AM EST • Health • nytimes.com
Pecans found to improve cholesterol and boost heart health

A sweeping new scientific review suggests that pecans — America’s native nut — may pack more heart power than many people realize. After analyzing over 20 years of research, scientists found consistent evidence that eating pecans can improve key markers of cardiovascular health, including total cholesterol and “bad” LDL cholesterol, while also supporting antioxidant defenses.

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Feb 22 • 7:00 AM EST • Science • sciencedaily.com
Pecans found to improve cholesterol and boost heart health

A sweeping new scientific review suggests that pecans — America’s native nut — may pack more heart power than many people realize. After analyzing over 20 years of research, scientists found consistent evidence that eating pecans can improve key markers of cardiovascular health, including total cholesterol and “bad” LDL cholesterol, while also supporting antioxidant defenses.

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Feb 22 • 7:00 AM EST • Health • sciencedaily.com
Michigan basketball players react to Duke's 'really tough' defense

Michigan basketball players Yaxel Lendeborg and Morez Johnson Jr. react to Duke's elite defense, calling it the best they've faced.

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Feb 21 • 10:06 PM EST • Sports • sports.yahoo.com
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LAFC vs. Inter Miami live updates, score: Lionel Messi and Co. kick off title defense in Los Angeles
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Feb 21 • 9:20 PM EST • Sports • sports.yahoo.com
Why do Arsenal keep giving up golazos amid trophy chase?

They've been on the end of some crazy golazos this season, from Dominik Szoboszlai's free kick Patrick Dogu's rocket shot

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Feb 21 • 3:26 PM EST • Sports • cbssports.com
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Bears' best players in 2025 season, per Pro Football Focus

Here's a look at the highest-graded players for the Chicago Bears on offense and defense from the 2025 season.

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Feb 21 • 11:42 AM EST • Sports • sports.yahoo.com
Will MAHA turn on Trump? How his executive order feels like 'betrayal'

President Donald Trump called it a matter of national defense. But Make America Healthy Again activists say he broke their trust.

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Feb 20 • 8:58 PM EST • Politics • usatoday.com
War Department Announces Realignment of Anomalous Health Incidents Cro

The War Department recently announced the realignment of the Anomalous Health Incidents Cross‑Functional Team to the Office of the Undersecretary of War for Research and Engineering.

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Feb 20 • 7:04 PM EST • Health • war.gov
A Bad Week for Clean Water and Public Health: How President Trump’s Glyphosate Executive Order and the 2026 Farm Bill Threaten Us All

On Wednesday, President Trump signed an executive order titled Promoting the National Defense by Ensuring an Adequate Supply of Elemental Phosphorus...

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Feb 20 • 4:55 PM EST • Health • waterkeeper.org
Breakout Predictions For The Notre Dame Defense In 2026
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Feb 20 • 12:03 PM EST • Sports • sports.yahoo.com
Defense Health Network Europe Civilian Employees Recognized for their Achievements

SEMBACH, Germany – The senior leaders of Medical Readiness Command, Europe and Defense Health Network Europe, U.S. Army Brig. Gen. Roger Giraud and Comm...

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Feb 20 • 11:21 AM EST • Health • army.mil
New cybersecurity rules for US defense industry create barrier for some small suppliers

New U.S. cybersecurity rules for the defense sector are leading some small suppliers to rethink military work due to high compliance costs, raising production risks at a time when the Trump administration is pressuring contractors to boost output and diversify the supply base.

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Feb 20 • 6:03 AM EST • Business • reuters.com
Analyzing the fit of six defensemen the Sharks could target before the March 6 NHL trade deadline

San Jose Hockey Now's Sheng Peng spoke to several NHL scouts about how possibly available defensemen could help the Sharks at the trade deadline.

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Feb 19 • 10:58 PM EST • Sports • nbcsportsbayarea.com
Hegseth invited pastor who calls for Christian theocracy to lead Pentagon prayer service

A controversial pastor who supports repealing women’s right to vote and believes homosexuality should be a crime led a worship service at the Pentagon this week, saying he was invited by Defense Secretary Pete Hegseth.

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Feb 19 • 1:17 PM EST • Politics • cnn.com
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David Ebrahimzadeh and Corniche Capital Announce Up to 400,000 Square Feet of Build-to-Suit Industrial Space at Los Morros Business Park in Los Lunas, New Mexico

Up to 400,000 Square Feet of Custom Build-to-Suit Space for Manufacturing, Distribution, Cold Storage, Data Center, Defense, and Advanced Industrial Tenants — Adjacent to Meta’s Multi-Billion-Dollar Data Center Campus, with Access to Significant State and Local Economic Incentives Including Tax Abatements, Grants, and Job Training Programs Corniche Capital Brand Video NEW YORK, Feb. 19, 2026 (GLOBE NEWSWIRE) -- David Ebrahimzadeh, Founder and President of Corniche Capital, today announced the av

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Feb 19 • 10:20 AM EST • Business • finance.yahoo.com
Trump’s Black supporters tout minority gains during White House ceremony

Wednesday’s Black History Month event marked a continued defense of a president who has made racial grievance a hallmark of his political ascent.

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Feb 18 • 7:52 PM EST • Politics • washingtonpost.com
Health lobbying bonanza continues

Health care companies are mounting their defenses in Washington with more than two dozen lobbying registrations filed since Friday as the industry comes under scrutiny for its role in the high cost of care.

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Feb 18 • 5:00 AM EST • Health • politico.com
49ers EDGE, WR picked as possible cap casualties in 2026

The San Francisco 49ers could use more cap space, and moving on from one player on defense and one on defense, could make a huge difference.

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Feb 18 • 12:10 AM EST • Sports • ninerswire.usatoday.com
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Tennessee emphasizing defense against upset-minded Oklahoma

Tennessee forward J.P Estrella knows the path for the team's success for the remainder of the Southeastern Conference regular season and beyond -- defense.

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Feb 17 • 7:33 PM EST • Sports • cbssports.com
Countries with the biggest defense budgets, ranked

The US has the world's largest military budget. Here's how military budgets compare around the world, and what they reveal about military priorities.

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Feb 17 • 8:37 AM EST • Business • businessinsider.com
Axios reports Defense Secretary Hegseth is ‘close’ to cutting business ties with AI company Anthropic
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Feb 16 • 10:37 PM EST • Business • cnn.com
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When AI meets physics: Unlocking complex protein structures to accelerate biomedical breakthroughs

Artificial intelligence (AI) is transforming how scientists understand proteins—these are working molecules that drive nearly every process in the human body, from cell growth and immune defense to ...

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Feb 14 • 2:30 PM EST • Technology • phys.org
PFF: 5 highest-graded Bills players on defense in 2025

Here's who the five best Bills players were on defense during the 2025 NFL season, according to Pro Football Focus.

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Feb 14 • 9:45 AM EST • Sports • billswire.usatoday.com
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Russia's air defenses learned in Ukraine, now a bigger threat to NATO

Russia still has many air defenses, and experience it gained against Ukraine actually makes them a bigger threat to NATO aircraft than before 2022.

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Feb 14 • 5:47 AM EST • Business • businessinsider.com
Anduril discusses new funding at $60 billion-plus valuation, The Information reports

U.S. defense firm Anduril is in talks to raise billions in new funding at a valuation of at least $60 billion, The Information reported on Friday, citing people familiar with the matter.

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Feb 13 • 8:19 PM EST • Business • reuters.com
Bombshell emails show Trump admin knowningly put forward faulty science to deregulate pollution

Internal communications uncovered in a lawsuit by the Environment Defense Fund show Department of Energy personnel criticized the report.

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Feb 13 • 6:31 AM EST • Science • ms.now
Fincantieri predicts strong growth despite ding to US warship business

By 2035, revenue will double, reaching €18 billion, the firm said.

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Feb 13 • 3:31 AM EST • Business • finance.yahoo.com
EU loans-for-weapons SAFE scheme gets political in Poland

The Polish president and prime minister are at each other’s throats over a plan to pump billions into Polish defense.

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Feb 12 • 11:29 AM EST • Politics • politico.eu
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Around the MHS

The latest news from around the Military Health System for the week of Feb. 9-13, 2026, includes a new leader for the Defense Health Agency, a roadmap for leveraging artificial intelligence in military medical education, and the U.S. Navy’s human performance optimization initiative.

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Feb 12 • 7:00 AM EST • Health • health.mil
SPORTS: VGK Noah Hanifin chats about Olympics & more, Lady Rebels fall to Wyoming 82-72

*WATCH FULL INTERVIEW WITH VGK NOAH HANIFIN*As the Vegas Golden Knights continue their push through the NHL season, defenseman Noah Hanifin is preparing for a m

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Feb 12 • 2:18 AM EST • Sports • news3lv.com
Who are the building blocks for Robert Saleh’s Titans defense?

Identifying the building blocks for Robert Saleh and his Tennessee Titans defense in 2026.

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Feb 11 • 7:30 AM EST • Sports • musiccitymiracles.com
Commanders' DC leaves out big two names when discussing defense

New Commanders' defensive coordinator Daronte Jones left out two key names when discussing Washington's defense.

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Feb 10 • 10:21 PM EST • Sports • commanderswire.usatoday.com
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From buyer to builder: The Gulf’s defense industry pivot
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Feb 10 • 6:53 AM EST • Business • cnn.com
Lakers player grades: L.A. can't crack Thunder's championship defense

On Monday, the Thunder proved why they're simply on a higher level than the Lakers.

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Feb 10 • 2:44 AM EST • Sports • lebronwire.usatoday.com
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Seahawks Defense Still Feels Disrespected After Dominant Super Bowl Victory

Even after one of the most dominant defensive performances in Super Bowl history, the Seahawks still have a chip on their shoulder.

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Feb 9 • 11:18 AM EST • Sports • foxsports.com
Internships Connect Students Directly to Mission-Driven Science and Te

The U.S. Naval Research Laboratory (NRL) is offering students at every stage, from high school through graduate school, the opportunity to contribute to cutting edge research that supports national

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Feb 9 • 7:00 AM EST • Science • navy.mil
Drake Maye’s Super Bowl disaster left him in tears. And now comes the hard part

Drake Maye was the MVP runner-up in his second season, but against a dominant defense in the Super Bowl, he failed to measure up.

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Feb 9 • 6:30 AM EST • Sports • nytimes.com
Seahawks ride their 'Dark Side' defense to a Super Bowl title, pounding the Patriots 29-13

SANTA CLARA, Calif. (AP) Defense won this championship.

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Feb 8 • 10:45 PM EST • Sports • cbssports.com
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Super Bowl 2026: Seahawks ride dominant defense to blowout of Patriots, second title in franchise history
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Feb 8 • 10:33 PM EST • Sports • sports.yahoo.com
Super Bowl 2026 live updates: Jaxon Smith-Njigba evaluated for concussion as Seattle defense, Kenneth Walker III lead way over Patriots, 12-0
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Feb 8 • 9:30 PM EST • Sports • sports.yahoo.com
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Super Bowl 2026 live updates: Seattle defense, Kenneth Walker III leading way as Seahawks lead Patriots 9-0 at halftime
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Feb 8 • 8:12 PM EST • Sports • sports.yahoo.com
New-look Bulls to focus on defense vs. confident Nets

Less than a month after the Chicago Bulls and Brooklyn Nets clashed in consecutive games, the teams will meet again Monday with the Bulls sporting an entirely different look.

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Feb 8 • 3:00 PM EST • Sports • cbssports.com
Looming Epstein Deposition Plunges Clintons Into Yet Another Scandal

Unlike in the past, top Democrats aren’t lining up in defense of the former president.

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Feb 6 • 2:00 PM EST • Politics • wsj.com
Jim Schwartz resigns as Browns defensive coordinator

Schwartz leaves after three seasons leading Cleveland's defense

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Feb 6 • 12:19 PM EST • Sports • cbssports.com
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No. 18 Virginia rides stingy defense into clash vs. Syracuse

No. 18 Virginia rides stingy defense into clash vs. Syracuse

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Feb 6 • 7:49 AM EST • Sports • cbssports.com
Bengals avoid being butt of jokes at NFL Honors show

One year ago, NFL Honors host Snoop Dogg roasted the Bengals' defense after shouting out quarterback Joe Burrow.

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Feb 5 • 11:15 PM EST • Sports • cincinnati.com
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New and Huge Defender Enter Vikings’ Mock Draft Orbit

The Minnesota Vikings have not featured a consistent and true nose tackle in their defense since Dalvin Tomlinson left the […]

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Feb 5 • 7:15 PM EST • Sports • sports.yahoo.com
L3Harris begins militarizing Bombardier business jets for South Korean AEW&C order

“We have already received two aircraft to begin mission system integration work, demonstrating both program momentum and the maturity of the AERIS solution,” L3Harris's Jason Whitford told Breaking Defense.

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Feb 5 • 2:10 PM EST • Business • breakingdefense.com
Beware of MHS GENESIS scam sites: Learn how you can protect your healt

If you get care at a military hospital or clinic, the MHS GENESIS Patient Portal is your main tool for managing your care online. Unfortunately, scammers can create fake websites that look like

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Feb 4 • 7:00 PM EST • Health • newsroom.tricare.mil
Chris Shula not the issue with the Rams defense

The Rams defense struggled late, but Chris Shula isn’t the problem. Here’s why Sean McVay’s philosophy matters more.

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Feb 3 • 11:24 AM EST • Sports • turfshowtimes.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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Inside the startup rush for Europe's new war chest

Europe fears it can't beat Russia's style of war — creating a golden opportunity for defense founders.

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Feb 1 • 7:08 PM EST • Business • businessinsider.com
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Browns DC Jim Schwartz updates: Reconciliation possible?

Cleveland Browns HC Todd Monken has made a lot of moves but none on defense. DC Jim Schwartz updates are interesting

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Feb 1 • 5:54 PM EST • Sports • dawgsbynature.com
Former Bills safety Jim Leonhard coming to Buffalo as DC

Leonhard hasn’t overseen an NFL defense but is considered a rising defensive mind with ample college coaching success.

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Feb 1 • 10:58 AM EST • Sports • buffalorumblings.com
UFC 325 Bonuses! Ruffy Banks $100K For Nasty TKO

Alexander Volkanovski added another UFC featherweight title defense to his record last night (Sat., Jan. 31, 2026) at UFC 325 LIVE on Paramount+ from inside Qudos Bank Arena in Sydney, Australia, outworking Diego Lopes in a rematch from their first meeting back in April 2025. In co-main event action, lightweight contender Benoit Saint Denis put […]

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Feb 1 • 9:30 AM EST • Sports • mmamania.com
Buffalo Bills name Jim Leonhard defensive coordinator

The Buffalo Bills named Jim Leonhard their new defensive coordinator as they head in a new direction on defense in 2026.

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Feb 1 • 8:45 AM EST • Sports • billswire.usatoday.com
Oklahoma State, Utah look inward for more respectable defense

Both Oklahoma State and Utah have had a full week to consider what they need to improve to save their seasons.

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Jan 30 • 9:55 PM EST • Sports • cbssports.com
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Packers Analysis: Passive vs. Active Defenses

I hope Jonathan Gannon isn’t a weiner.

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Jan 30 • 8:24 PM EST • Sports • acmepackingcompany.com
Patriots Defender Squashes ‘Crazy’ Drake Maye Playoff Narrative

Despite stringing together three dominant postseason outings, the New England Patriots defense doesn’t want to hear about carrying Drake Maye to Super Bowl LX. Maye led New England to a 14-3 season and AFC East championship by accounting for 35 touchdowns with a league-leading 72.0 completion percentage. The MVP finalist hasn’t lived up to those […]

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Jan 30 • 6:06 PM EST • Sports • sports.yahoo.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
2026 Super Bowl Odds: Back Seattle Defense to Stymie Drake Maye, Patriots

Geoff Schwartz is filling his Super Bowl betslip with a couple of prop wagers, including one on Patriots' QB Drake Maye.

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Jan 30 • 9:53 AM EST • Sports • foxsports.com
Jason Kelce lauds Patriots' underappreciated defense before Super Bowl

As Eagles great Jason Kelce sees it, the Patriots' defense deserves more credit for their work in the 2025 NFL playoffs.

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Jan 29 • 12:03 PM EST • Sports • patriotswire.usatoday.com
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War Department Boards Merge to Form New Science, Technology and Innova

Secretary of War Pete Hegseth approved a major overhaul of the War Department's legacy advisory boards, directing the merger of the Defense Innovation Board and the Defense Science Board into the new

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Jan 29 • 11:06 AM EST • Science • war.gov
Panthers season in review: The run defense

The Carolina Panthers run defense took a huge step forward, but there’s still a lot of room for improvement.

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Jan 29 • 11:00 AM EST • Sports • catscratchreader.com
Pittsburgh Steelers Coach Mike McCarthy's Ring Signifies Importance of Defense
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Jan 29 • 8:00 AM EST • Sports • roundtable.io
Prosecution requests July 1 state trial for Mangione in health care executive's killing

Defense attorneys for Luigi Mangione, charged with fatally shooting UnitedHealthcare CEO Brian Thompson in 2024, said the date is unrealistic with a federal case also pending.

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Jan 28 • 8:46 PM EST • Health • nbcnews.com
High-Signal Publisher
Opinion | A defense of business leaders’ pragmatic letter about the events in Minnesota

"Maybe public vitriol isn’t the measure by which to judge the words of business leaders in today’s world and with this president," Tom Horner writes.

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Jan 28 • 2:39 PM EST • Business • startribune.com
Tom Brady slams snub of Bill Belichick for Pro Football Hall of Fame

Tom Brady came to Bill Belichick's defense after the Pro Football Hall of Fame snubbed the iconic Patriots coach

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Jan 28 • 12:45 PM EST • Sports • cbssports.com
General Dynamics fourth-quarter revenue rises on strong defense business

General Dynamics posted a rise in fourth-quarter revenue on Wednesday, driven by growth in its combat and marine systems segments.

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Jan 28 • 7:18 AM EST • Business • reuters.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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