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Colorado Politics’ 8th CD primary debate canceled after Democrat Shannon Bird withdraws
Organizers on Tuesday canceled next week’s Democratic primary debate in Colorado’s toss-up 8th Congressional District after former state Rep. Shannon Bird withdrew, leaving just one candidate planning to take the stage. Three Democrats are seeking the nomination in the state’s June 30 primary for the chance to face first-term Republican U.S. Rep. Gabe Evans in […]
The Hantavirus Outbreak Is a Test Case for the U.S. Public Health Response
The outbreak is also a kind of test case for how well the U.S. is positioned to respond to global disease threats under the Trump administration. Since early last year, the administration has pulled back U.S. engagement on global health, which has included completing a withdrawal from membership in the World Health Organization (WHO)...
Treating newborns with opioid withdrawal
Giving opioid withdrawal medications based on an infant’s symptoms rather than a set schedule can shorten hospital stays.
Hantavirus misinformation runs rampant as the US is unequipped to respond to infectious disease health scare
But the US’s withdrawal from the WHO – and cuts to the country’s health system – stymie officials’ response
UN health agency chief says hantavirus outbreak shows why US should rejoin
The World Health Organization and U.S. health officials are working together despite Donald Trump’s withdrawal.
Phil Mickelson pulls out of PGA Championship weeks after missing The Masters, cites 'personal health issue'
Phil Mickelson has withdrawn from next week's PGA Championship because of a personal health matter with his family, organisers have confirmed.
Irwin considered withdrawing from North West 200
Glenn Irwin says he considered withdrawing from this week's North West 200 because of the teething difficulties he was having with his new V4 Ducati at the British Superbike round at Oulton Park.
Armenia hosts European Political Community summit
Armenia is hosting leaders from across Europe and beyond in the capital, Yerevan, for a summit of the European Political Community. It is the first such meeting of Western allies since the US announced plans to withdraw troops from Germany.
Germany’s Merz downplays rift with Washington despite US troop drawdown
German chancellor says criticism of Donald Trump's strategy in Iran unrelated to troop withdrawal announcement.
Troop withdrawal announcement adds to friction between Europe and Trump
The German defense minister has responded to the U.S. plan to withdraw 5,000 troops from Germany, emphasizing the mutual benefits of the U.S. military presence in Europe.
Grand Forks Public Health advises against using kratom products without medical oversight
Kratom is a plant, native to Southeast Asia, that is used in products that people ingest to self-treat pain, anxiety, depression and opioid withdrawal. The products are not FDA approved.
US to pull 5,000 troops from Germany as Europe rift deepens
The U.S. will withdraw 5,000 troops from Germany as tensions with European allies grow.
Pentagon orders withdrawal of 5,000 U.S. troops from Germany as Trump escalates feud with Merz
The Pentagon confirmed the withdrawal of approximately 5,000 U.S. troops from Germany as tensions between Trump and Chancellor Merz intensify.
US withdrawing 5,000 troops from Germany after chancellor criticized war with Iran
The Pentagon said on Friday the US will be withdrawing roughly 5,000 troops from Germany over the next year.
US to withdraw 5,000 troops from Germany in next 6-12 months
The Pentagon says the United States will withdraw about 5,000 troops from Germany in the next 6-12 months
Carlos Alcaraz shows up in Madrid after tournament withdrawal
Carlos Alcaraz pulled out of the Madrid Open because of a wrist injury, but that didn’t keep him away from the event entirely. The Spaniard was spotted in the stands on quarter-final day.
LIV Golf: Is Saudi Arabia's sports revolution unravelling?
Saudi Arabia will withdraw its multi-billion dollar backing of LIV Golf, but what does this mean for the country's other sporting investments? Dan Roan takes a closer look.
The Trump Administration Casts Out the ‘Soul’ of MAHA
The withdrawal of Casey Means’s nomination for surgeon general is the latest blow to the movement.
Trump withdraws Casey Means for surgeon general after nomination stalls
Trump also named his third pick for the role. doctor and Fox News contributor Nicole Saphier.
Janet Mills, Governor of Maine, Suspends Senate Campaign
Her withdrawal paves the way for Graham Platner to challenge Senator Susan Collins, and reflects the energy of the Democratic Party’s left as well as voters’ unease with older candidates.
Barclay brothers avoid bankruptcy after deal with HSBC over £143m debt
Bank says it has withdrawn proceedings against former Telegraph owners Aidan and Howard Barclay at high court
Rock Island alderman’s family business withdraws bid for city catering contract amid conflict concerns
🚨 Official: another star pulls out of the World Cup!
Another withdrawal for the World Cup!After Hugo Ekitiké, Serge Gnabry and Rodrygo, another star has officially withdrawn from the 2026 World Cup!Injured this Saturday on the Wolverhampton pitch with ...
Sean Plankey, Trump’s Pick to Lead Cybersecurity Agency, Withdraws His Nomination
Confirmation for the nominee, Sean Plankey, had been pending in the Senate for over a year.
Beyond the Promises: Africa, Power, and the Politics of Climate Action
Renewed uncertainty around US engagement, including signals of potential funding reductions, institutional disengagement, and a second withdrawal from the Paris Agreement, has reintroduced questions about the durability of global climate commitments.
Biggest party in Romanian coalition set to demand PM's resignation, political crisis looms
Romania's Social Democrats are widely expected to withdraw their support for Liberal Prime Minister Ilie Bolojan on Monday, likely ushering in months of political instability that will pressure debt, credit ratings and the receipt of EU funds.
Emma Raducanu withdraws from Madrid Open as tennis absence continues
Raducanu has not played since losing 6-1 6-1 to Amanda Anisimova at Indian Wells
House rejects effort to withdraw U.S. forces from Iran war as GOP lawmakers stick with Trump
The House rejected a resolution Thursday requiring President Donald Trump to withdraw U.S. forces from the war with Iran unless Congress authorizes military action. It was the latest such vote that fell short of passage as Republicans largely continue to support Trump's operation.
Chagos Islands treaty is now ‘impossible to agree at political level’, UK minister says
Stephen Doughty says US withdrawal of support means bill cannot complete passage through parliament
Eric Swalwell drops bid for California governor after sexual misconduct allegations
The Democratic candidate faced immediate calls to end his campaign, with many supporters withdrawing their endorsements.
Eric Swalwell ends campaign for California governor after sexual misconduct allegations
Rep. Eric Swalwell said Sunday he would withdraw from the California governor’s race in the wake of allegations of sexual misconduct that led to a nearly immediate campaign collapse, as staffers quit and prominent Democratic supporters urged him to drop out.
Eric Swalwell ends campaign for California governor after sexual misconduct allegations
Rep. Eric Swalwell said Sunday he would withdraw from the California governor’s race in the wake of allegations of sexual misconduct that led to a nearly immediate campaign collapse, as staffers quit and prominent Democratic supporters urged him to drop out.
As Swalwell’s campaign unravels, his rivals in California governor’s race scramble for an opening
The sexual misconduct allegations against Rep. Eric Swalwell are damaging his hopes of winning the governor’s race, with former allies revoking their endorsements and a growing list of prominent Democrats telling him to withdraw.
Democrats withdraw endorsements of Eric Swalwell and demand he end bid for California governor
Rep. Eric Swalwell’s bid for the California governor’s office was reeling Friday as staffers resigned and top Democratic supporters withdrew their endorsements in the wake of allegations of sexual misconduct.
Democrats push to pass Iran war powers resolution despite House recess, accusing Trump of ‘unhinged behavior’
Hakeem Jeffries, the House Democrat leader, will use pro forma session to try to pass measure requiring president to withdraw US forces from Middle East
The Boundless Deep: Young Tennyson, Science, and the Crisis of Belief by Richard Holmes
Pantheon Review by Walter Cummins The image of Alfred Tennyson I’ve carried for decades goes back to the childhood card game of Authors that depicts him with a stately continence sharpened by a jutting black beard. He’s formidable, his aura superior. Holmes opens his biography of the youthful Tennyson by describing the similar formality of the imposing Tennyson statue at Trinty College Cambridge, sharing the honor with other Trinity greats, including Isaac Newton, Francis Bacon, and Thomas Babington Macaulay. Holmes doesn’t want to chip away at that statue but rather reveal its inner youthful core of the man—tall, handsome, and talented but unformed, emerging from a disturbed family of addicted or insane male siblings and four unusual sisters struggling under a violent alcoholic clergyman father. Alfred was certainly statuesque, but would he end up a block of unformed stone like his equally promising brothers? He was youngest of three equally regarded Tennyson brothers at Cambridge, all bright, handsome, and talented, in fact Alfred regarded by some as less promising than his elders who also wrote poetry. Yet Alfred wrote one of his major poems, “The Kraken,” at twenty, revealing both his talent, his interest in geological forces, and the haunting creature that embodied his anxieties. While Holmes focuses on Tennyson of the 1830s and 1840s, he can’t tell his story without exploring his involvement with the Victorian intellectual upheaval. Tennyson was fascinated by new scientific perspectives, following the latest findings as soon as books and articles were published. He was especially taken with Charles Lyell’s deep studies of geology and the discovery of fossils and a timeline of the planet’s development that did much to question fundamental religious assumptions. The impact of these discoveries is reflected in Tennyson’s poetry and led to the crisis in belief he shared with so many contemporaries. He was especially taken by the cycles of destruction and renewal that informed the struggles he confronted in In Memoriam, Maud, and Idylls of the King. Tennyson was only one of the eventual major figures at Cambridge at the same time, young men just beginning to realize their potential. Charles Darwin was at Christ College, although there is no evidence that he and Tennyson even met as students or later in life. Yet evolution became significant in Tennyson’s thinking and the issues of his poetry. One of Tennyson’s best and most important Cambridge friends was Edward FitzGerald, who became the translator of The Rubáiyát of Omar Khayyám and in their on and off relationship served as Tennyson’s harshest critic. FitzGerald was also a friend of the novelist William Makepeace Thackeray, the two of them partying in Paris as undergraduates. That connection led to a friendship between Thackeray and Tennyson. Others who came to play significant roles in Tennyson’s life were Thomas Carlyle, the Brownings, and the Pre-Raphaelites. Tennyson’s deepest friend at college was Arthur Hallam, who at twenty wrote a glowing review of Tennyson’s first poetry collection, travelled on European adventures with him, and fell in love with his sister Emily. Hallam was also regarded as one more very promising Cambridge student. His sudden death at twenty-two in Vienna from a stroke while travelling with his father devastated many friends, but perhaps Tennyson most of all. He did not write immediate poems of grief but took years to compile those collected in In Memoriam A.H.H., published in 1850, almost twenty years after Hallam’s death For all of Tennyson’s early poetic successes and successes, Holmes reveals him as an often troubled young man suffering periods of depression, fearing planetary upheaval, concerned about supporting himself, disappointed in romances, and worried that he would inherit the family’s mental illness tendencies. Yet despite his seeming withdrawals, he was always writing poetry that he kept private and would not let go, constantly revising. 1850 became a transformative year for Tennyson. He finally consented to publishing In Memoriam with a last-minute prologue that acknowledged God and perhaps convinced the religious Emily Sellwood to marry him after years of pursuit.. He opened up to Emily, revealing his struggles with fears of depression and “weird seizures.” The devastating event of that time was the stillborn death of his unnamed first son. It shook him, but Emily’s faith brought them closer and convinced him to believe in an afterlife. Two later sons survived. With the death of William Wordworth in April of 1950, Tennyson was named poet laureate at age forty-one, reluctantly accepting. It’s as if Tennyson’s life split in half in that year. He lived another forty years, now a recognized success, with the prestige of being an official poet writing patriotic verse, wealthy and revered, no longer the insecure young man seeking an outlet for his immense talent. He earned a place in the Authors deck, now dignified and in 1884 elevated to the peerage as Arthur, Lord Tennyson. Richard Holmes is the author of twenty previous books on the Romantics and Victorians, several of which received awards. The Boundless Deep was shortlisted for the 2025 Baillie Gifford Prize for Non-Fiction. He captures the complex vicissitudes of Tennyson’s youth, illustrated by frequent excerpts from the poetry, placing that life in the full context of the shattering discoveries that led to an upheaval of thought in the Victorian age.
Kanye West was booked as a festival headliner. Brands are now pulling their sponsorship
Pepsi and brewery company Diageo have withdrawn their sponsorship of the UK’s 2026 Wireless Festival after it was announced that Kanye West would headline the three-day event.
Phil Mickelson withdraws from the Masters, joins Tiger Woods in sitting out signature major
Phil Mickelson said he will miss the Masters this year to navigate a personal family health matter, becoming another golf icon to miss the major alongside Tiger Woods.
Pension Case Offers Entertainment Work Exception Insights
A recent Ninth Circuit decision clarified that any amount of entertainment work can satisfy the entertainment industry exception under the Multiemployer Pension Plan Amendments Act, reinforcing that statutory language, rather than evolving business models, dictates withdrawal liability outcomes, say attorneys at Seyfarth.
Can Donald Trump singlehandedly withdraw the US from NATO?
For years President Donald Trump has been deeply critical of NATO, including a slew of statements since the beginning of the Iran war. In two recent interviews he has said he would consider taking the significant step of withdrawing the US from the alliance altogether.
BMA dismisses Starmer’s 48-hour warning over resident doctors’ strike plan
Prime minister threatens to withdraw NHS training posts for residents doctors if they don’t call off strike
Are Arsenal facing an injury crisis? International break withdrawals reaches 10 ahead of home stretch
The Gunners are favorites to take home silverware this season, but could the long list of injuries derail their Champions League and Premier League hopes?
🚨 BREAKING: Arsenal midfielder withdraws from international duty
Arsenal midfielder Martín Zubimendi has withdrawn from Spain international duty.Zubimendi was due to feature in La Roja's squad for the upcoming friendly against Egypt. However, the Spanish National...
Dumped by insurance plans, millions of seniors scramble for health coverage
Elderly people are forced to hunt for options when Medicare Advantage plans withdraw from unprofitable markets.
Health Policy Watch: US withdrawal of global health funding is ‘public health emergency of international concern’
The rapid withdrawal of international health aid by the US constitutes a public health emergency of international concern, according to an analysis in the BMJ.
Scottie Scheffler withdraws from Houston Open, likely won't play again until 2026 Masters
The World No. 1 withdrew from his Masters tune up event on Tuesday
March fixture list for Arsenal’s 14 internationals
Following five withdrawals, 14 Arsenal players will be involved in the March internationals, so let’s take a look at when they’ll all be in action.Photo by Michael Campanella/Getty ImagesThe vario...
Jeffrey Epstein's personal lawyer explains large cash withdrawals
Darren Indyke says Jeffrey Epstein needed a lot of cash for his lavish lifestyle, including a jet, a private island, and homes around the world.
Argentina officially withdraws from World Health Organization, following US
Argentinian President Javier Milei has criticised the global health body for its response to the COVID-19 pandemic.
Syngenta to build $120mn agricultural science centre in UK
Investment by Swiss-based group contrasts with pharma companies withdrawing funding from British research facilities
Democrat Julie Stauch exits race for Iowa governor after petition issues
Julie Stauch announced her withdrawal from the Iowa governor race after her petitions failed to meet the required signature count.
US Commerce Department withdraws planned rule on AI chip exports, government website shows
The U.S. Department of Commerce on Friday withdrew its planned rule on AI chip exports, according to a government website.
What to expect in Georgia's special election to fill Marjorie Taylor Greene's former seat
A crowded field of 22 candidates initially filed to run for the vacant U.S. House seat, but that number fell to 17 active contenders after a handful of withdrawals from the race.
Newsom Picks a Dogfight With Trump and RFK Jr. on Public Health
Scientists are cheering California Gov. Gavin Newsom as he builds a public health bulwark against health secretary Robert F. Kennedy Jr.’s anti-vaccine stance and President Donald Trump’s withdrawal from the World Health Organization. Still, federal cuts have sapped morale and left local health departments less prepared for outbreaks.
BlackRock limits withdrawals at private credit fund as redemptions mount
BlackRock said on Friday it has put limits on withdrawals from a flagship private credit fund after a surge in redemption requests, making it the latest company responding to rising investor caution in the asset class.
Texas GOP Rep. Tony Gonzales withdraws re-election bid after admitting to affair with staffer
Gonzales is withdrawing from his re-election race after having admitted to an affair with a former staff member who later died by suicide.
Texas GOP Rep. Tony Gonzales withdraws re-election bid after admitting to affair with staffer
Gonzales is withdrawing from his re-election race after having admitted to an affair with a former staff member who later died by suicide.
GOP Sen. Steve Daines’ last-minute withdrawal from Senate race was meant to block Democrats from fielding a top-tier recruit
GOP Sen. Steve Daines made the last-minute decision to abruptly pull out of his Senate race to prevent Democrats from fielding a top recruit for the open Montana seat, according to two sources familiar with the matter.
Regulators Banning AI From Providing Mental Health Advice Could Spur Society Into A Massive Cognitive Withdrawal
Some regulators believe that there should be an outright ban on AI giving out mental health advice. A gotcha is that people already rely on AI. An AI Insider analysis.
Britain's John Lewis Partnership to withdraw from build to rent business
British retailer the John Lewis Partnership said on Wednesday it is withdrawing from its Build to Rent property business, blaming a "fundamental shift" in the economic conditions that underpinned the venture when it launched in 2020.
Trump withdraws endorsement of Colorado Rep. Jeff Hurd, cites 'lack of support' on tariffs
The president pulled his support from the Republican congressman after Hurd voted against Trump's tariffs on Canada.
Business Restructuring Review
In This Issue: The Year in Bankruptcy: 2025 A brief chronicle of the year's notable developments in corporate bankruptcy and restructuring, including business bankruptcy filings, significant court rulings, and legislative developments. [read more …] U.S. Bankruptcy Court Denies Chapter 15 Recognition of Maltese Liquidation Absent Evidence of Meaningful Activities Supporting Finding of COMI or Establishment in Malta In In re Geden Holdings, Ltd., No. 25-90138, 2025 WL 2484883 (Bankr. S.D. Tex. Aug. 28, 2025), stay pending appeal denied, No. 25-90138, 2026 WL 97993 (Bankr. S.D. Tex. Jan. 13, 2026), the U.S. Bankruptcy Court for the Southern District of Texas ruled that, for purposes of recognition under chapter 15 of the Bankruptcy Code, although a foreign debtor may have had its center of main interests ("COMI") or an establishment in Malta when a liquidation proceeding was commenced for it in a Maltese court in 2017, the absence of any meaningful activity by the debtor's liquidator from that time until the liquidator filed a chapter 15 petition in the United States more than five years later meant that the debtor had neither a COMI nor an establishment in Malta on the chapter 15 petition date. The court accordingly denied the petition for recognition. [read more …] The Ninth Circuit's Expansive Reading of "Financial Accommodations" that Cannot Be Assumed or Assigned in Bankruptcy It is generally well understood that agreements to extend credit or provide financing to a debtor cannot be assumed or assigned in bankruptcy. Even so, the provision of the Bankruptcy Code that precludes assumption or assignment—section 365(c)(2)—also extends to "financial accommodations," a term that is not defined in the Bankruptcy Code and has been the subject of relatively few bankruptcy and appellate court rulings. The U.S. Court of Appeals for the Ninth Circuit examined the meaning of the term in In re Svenhard's Swedish Bakery, 154 F.4th 1100 (9th Cir. 2025). The court of appeals ruled that a deeply discounted settlement of pension plan withdrawal liability is a "financial accommodation" that cannot be assumed or assigned, thereby extending the reach of section 365(c)(2) well beyond conventional lending arrangements. [read more …] Pennsylvania District Court Applies "Hypothetical Test" in Determining that Patent License Agreement Is Assignable in Bankruptcy In Crivella Holdings Ltd. v. Mesearch Media Technologies Ltd., No. 2:25-cv-333, 2025 WL 2443400 (W.D. Pa. Aug. 25, 2025), the U.S. District Court for the Western District of Pennsylvania affirmed a bankruptcy court ruling denying a software licensor's motion for relief from the automatic stay to terminate the license agreement. The court found the license was assumable in bankruptcy under the Third Circuit's hypothetical test as a result of language in the agreement stating that it could be assigned to a "successor in interest" of the debtor without the licensor's further consent, thereby overriding federal patent law's general prohibition against the assignment of patents. [read more …] New York Bankruptcy Court Denies Motion to Terminate Chapter 15 Recognition and Dismiss Chapter 15 Case In In re Oi S.A., No. 23-10193 (LGB), 2025 WL 2806591 (Bankr. S.D.N.Y. Oct. 1, 2025), the U.S. Bankruptcy Court for the Southern District of New York considered whether chapter 15 recognition of a debtor's Brazilian restructuring proceeding should be terminated and the case dismissed due to the debtors' financial deterioration and inability to satisfy its restructuring plan obligations after entry of the recognition order. The court denied the motion, concluding that recognition of the Brazilian proceeding and a court-approved restructuring plan for the debtors should not be terminated under section 1519(d) of the Bankruptcy Code—according to the court, the sole authority for revocation of chapter 15 recognition—because, among other things, the restructuring proceeding was still pending, the debtors might still need relief authorized under chapter 15, and the debtors' prospects for reorganizing under a hypothetical chapter 11 case were uncertain at best. It also found that no provision of the Bankruptcy Code authorizes the dismissal of a chapter 15 case. [read more …] Newsworthy Effective January 1, 2026, Jones Day welcomed Isel M. Perez (Miami), Andrew M. Butler (New York), Sid Pepels (Amsterdam), and Anna C. Bretting (Munich) to the partnership in the Business Restructuring & Reorganization Practice. Sid Pepels (Amsterdam) has been nominated for the Future Leader Award by the Global Restructuring Review, an organization that acknowledges and honors excellence within the global restructuring and insolvency sector. This award is designed to recognize exceptional contributions made by both individuals and firms in the field. The 2026 edition of Chambers UK recognized Ben Larkin (London) in the practice area Restructuring/Insolvency and Adam R. Brown (London) in the practice area Restructuring/Insolvency: Litigation. The 2026 edition of Chambers Asia-Pacific ranked Roger Dobson (Sydney) in the practice area Restructuring/Insolvency. An article written by Corinne Ball (New York) titled "Backstop Fees for Lenders in Chapter 11 Plans: Absent Market Test, Equality of Treatment Now Required in Fifth Circuit After 'ConvergeOne'" was published on November 12, 2025, in the New York Law Journal. An article written by Oliver S. Zeltner (Houston) titled "Delaware Bankruptcy Court: No Legal Authority for Chapter 11 Plan Gatekeeping Provision" was published on November 20, 2025, by Lexis Practical Guidance. An article written by Daniel J. Merrett (Atlanta) titled "First Impressions: Eleventh Circuit Rules that Annulment of Automatic Stay Does Not Violate U.S. Supreme Court's Prohibition of Nunc Pro Tunc Orders" was published on November 21, 2025, by Lexis Practical Guidance. An article written by Genna Ghaul (New York) titled "Iowa District Court: Avoidance Claims Cannot Be Encumbered by Pre-Bankruptcy Liens" was published on November 20, 2025, by Lexis Practical Guidance. An article written by Dan T. Moss (Washington/New York), Corinne Ball (New York), David S. Torborg (Washington), and Ben Rosenblum (New York) titled "New York Bankruptcy Court Rejects Challenge to Barnet Rule Permitting Foreign Debtors to Obtain Chapter 15 Recognition With Only Minimal U.S. Assets" was published on November 21, 2025, by Lexis Practical Guidance. The M&A Advisor has recognized the Silvergate Capital Corporation Bankruptcy case as the Chapter 11 Reorganization of the Year (over $5 billion) during its 20th Annual Turnaround Awards. Jones Day is listed among the professionals for the representation of Exploration Capital, which was led by Joshua M. Mester (Los Angeles). Lawyer Spotlight: Sid Pepels Sid Pepels, a partner in Jones Day's Amsterdam Office, litigates and advises clients on commercial and international insolvency matters, with a focus on complex restructurings and insolvencies. He has advised and litigated high-profile cases, including: the cross-border WHOA (Wet Homologatie Onderhands Akkoord) proceedings concerning Vroon Group and Diebold Nixdorf; proceedings on behalf of expropriated SNS Reaal bond holders against the Dutch State; the bankruptcy of Intertoys, the leading Dutch toys retailer; the restructuring of Oi, the Dutch finance vehicle of the Brazilian telecom giant; and Blokker, the leading Dutch home appliances retailer. Sid holds a Ph.D. in European insolvency law and regularly publishes in academic journals on topics of cross-border insolvency. He has been recognized in The Legal 500 Netherlands and was noted by his peers for being client-minded and a creative thinker with a "strong grasp of the law and strong interpersonal skills." Sid was also nominated for the "Future Leader" award at the Global Restructuring Review Awards 2025. He is a board member for the Netherlands Association for Comparative and International Insolvency Law and a NextGen member of the International Insolvency Institute.
Knoxville attorney withdraws from Appeals Court quest amid partisan politics
Knoxville lawyer Rachel Hurt dropped a bid for the Court of Appeals after Republican senators questioned her past support for Democrats.
Ukrainian skeleton slider withdrawn from Olympics after ‘refusing to adhere’ to IOC rules on helmet honoring dead compatriots
Ukrainian skeleton slider Vladylsav Heraskevych has been withdrawn from competing at the Winter Olympics for “refusing to adhere” to the International Olympic Committee’s (IOC) athlete expression guidelines regarding his insistence on wearing a helmet featuring images of athletes killed during the war in Ukraine during competition.
China criticizes U.S. for WHO pullout, accusing it of sidestepping international law
China criticized the United States for withdrawing from the WHO, saying countries should not place domestic politics ahead of international law.
New York City joins UN health network after Trump’s withdrawal from WHO
New York City has joined a United Nations health network in the wake of the United States leaving the World Health Organization (WHO). In a press release Thursday, the New York City Department of H…
New York City joins UN health network after Trump withdrew US from WHO
The New York City Health Department on Wednesday said it has joined the World Health Organization's global outbreak response network following President Donald Trump's withdrawal of the U.S. from the U.N. health agency.
New York City Joins UN Health Network After Trump Withdrew US From WHO
By Kanishka Singh WASHINGTON, Feb 4 (Reuters) - The New York City Health Department on Wednesday said it has joined the World Health Organization's global outbreak response network following President Donald Trump's withdrawal of the U.S. from the U.N. health agency. WHY'S IMPORTANT Following ...
New York City Partners with W.H.O. as U.S. Withdraws From Global Effort
City health authorities are joining a network that counters new pathogens and emerging outbreaks.
States Join WHO Network After U.S. Withdrawal
Illinois on Tuesday followed in California’s footsteps to become the second state to join the World Health Organization’s pandemic response network after President Donald Trump withdrew the U.S. from the organization. The U.S. departure from WHO became official in late January, with the Department ...
Live updates: The latest on the Trump administration
The Department of Homeland Security will withdraw 700 personnel from Minneapolis, according to border czar Tom Homan. Follow for live news updates.
Illinois joins World Health Organization after Trump withdraws U.S.
Illinois joins World Health Organization network, after Trump administration withdraws from group
Joining the World Health Organization’s Global Outbreak Alert and Response Network is the state’s latest move into an area that was previously the domain of the federal government, before the…
Why Puerto Rico is considering withdrawing from 2026 World Baseball Classic
Francisco Lindor and other notable Puerto Rican players have not been approved for insurance for the WBC
Lindsey Vonn withdraws from super-G race a day after crash, no update on Winter Olympics status: 'Doing my best right now'
Davis Webb withdraws from Las Vegas Raiders head coach job
Las Vegas loses another head coach candidate
As the U.S. bids adieu to the World Health Organization, California says hello
In the wake of the U.S. withdrawal from WHO, California is the first state to participate in the agency's disease monitoring network. Are others following?
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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