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Headwinds in GoodRx’s (GDRX) Drug Prescription Business Draw Cautious View from Jefferies
GoodRx Holdings Inc. (NASDAQ:GDRX) is one of the best stocks under $3 to invest in, although one firm had recently become neutral on the stock. On January 22, analysts at Jefferies lowered their rating on GoodRx Holdings Inc. (NASDAQ:GDRX) to Hold from Buy and cut the price target to $2.75 from $5.25. According to Jefferies, […]
How bitcoin's crash battered Michael Saylor's Strategy, in 3 charts
Strategy, Michael Saylor's iconic bitcoin treasury, has seen its stock plunge and its cost basis for its bitcoin trove soar amid the token's bear market.
A Reprieve for the Markets, but For How Long?
Technology stocks and Bitcoin are showing signs of a rebound after a disastrous week. But investors remain on edge about whether more pain is in store.
Commentary: Your stocks are slumping, but you probably can't blame Trump
Stocks, bonds and cryptocurrencies have all taken a hit in recent trading. Is it politics or economics driving the downdraft?
New Business Licenses: 2.6.26
Chesterfield reports two law firms, a wellness business, an outdoor adventure group and more. (BizSense Pro required)
Best Entertainment Stocks to Buy in 2026
From streaming, gaming, and movies to live shows, amusement parks, hospitality, and sport franchises, learn what to look for in a good entertainment stock.
CBER Report: Nevada Led the Nation in Post-Pandemic Small Business Growth
New analysis by UNLV's Center for Business and Economic Research shows that 40 percent of Nevada’s employer firms were created after COVID-19 as new entrepreneurs reshaped the state’s recovery.
Amazon's Cloud Business Is Accelerating. Time to Buy the Stock?
Does the stock really deserve the beating it is taking following its earnings report?
Anthropic releases AI upgrade as market punishes software stocks
Technology startup Anthropic on Thursday launched what it called an improved artificial intelligence model, days after its product advances helped kick-start a selloff of traditional software stocks.
SBA to bar green card holders from applying for small business loans
The Small Business Administration said in a policy note that green card holders won't be allowed to apply for SBA loans, effective March 1.
Second House panel warms to Chase Tramont bill on heated tobacco regulatory change
The measure would establish a different taxing structure for heated tobacco products, which are considered a less harmful alternative to cigarettes.
Qualcomm: Memory shortage may impact phone business for '6-8 quarters'
After eking out an earnings and revenue beat for its fiscal first quarter, Qualcomm stock (QCOM) is sinking on Thursday over its disappointing revenue outlook. CFRA Research senior vice president and equity analyst Angelo Zino — who has a Buy rating on the stock — examines the long-term impacts that the memory chip shortage may have on Qualcomm's PC and smartphone hardware businesses. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts.
Inside Disney CEO Josh D’Amaro’s US$45m Pay Package
Josh D’Amaro’s compensation includes US$2.5m base, US$9.7m promotion bonus and US$26m long-term stock awards, structured for a smooth CEO transition
Honoring Black Leaders This Black History Month
As we mark the beginning of Black History Month, join us at Fenway Health in honoring and amplifying the words of Black leaders who inspire us, exemplify our
KKR to Buy Arctos in $1.4 Billion Deal That Stretches Beyond Sports
KKR has agreed to buy Arctos Partners in a deal worth $1.4 billion in cash and stock. Arctos will stand up a new KKR Strategies unit with sports, more
Assessing Kraft Heinz (KHC) Valuation As Earnings, Options Activity And Planned Business Split Attract Fresh Attention
Kraft Heinz stock in focus as earnings, options activity and corporate split converge Kraft Heinz (KHC) is drawing fresh attention as its February 11 earnings date approaches. Analysts expect declines in earnings per share and revenue, there is heavier call option activity, and the company has announced a planned sauces and grocery split later this year. See our latest analysis for Kraft Heinz. At a share price of US$24.48, Kraft Heinz has seen short term momentum pick up, with a 7 day share...
Google goes from laggard to leader as it pulls ahead of OpenAI with stellar AI growth
Alphabet is taking on OpenAI with a gusto that underscores Wall Street's perception that the Google parent is the leader in AI, a turn of events from a year ago when investors thought it was badly lagging behind rivals and punished its stock.
Ethics Opinion 1291: Participation in an Alternative Business Structure (ABS) - New York State Bar Association
Opinion 1291 (01/30/2026) Topic: Participation in an Alternative Business Structure (ABS) Digest: A New York lawyer may hold a financial interest in an ABS which renders legal services in a jurisdiction where such provision of legal services is permitted. A New York lawyer may have a contractual relationship with such an entity pursuant to which
Jim Cramer on Sphere Entertainment: “It’s Really Pretty Amazing”
Sphere Entertainment Co. (NYSE:SPHR) is one of the stocks Jim Cramer shared his opinion on. During the lightning round, a caller asked about the stock, and Cramer replied: I think Sphere’s great. We did, you know, Ben and I did, we did a piece on Sphere, and we felt really, really good about it. We’re […]
Can AI ‘vibe research’ replace social science?
AI tool improvement is compounding fast enough for researchers to start using tools like Claude Code for real social science tasks.
2026 NFL Draft's biggest stock-risers after Senior Bowl
Even if the "bar was low," like in the case of LSU's Garrett Nussmeier, the beginning of the 2026 NFL Draft's audition period was proof there's still a long way to go.
Dad’s Early Bond May Affect a Child’s Health Years Later, Study Finds
By I. Edwards HealthDay ReporterWEDNESDAY, Feb. 4, 2026 (HealthDay News) — For decades, researchers mostly blamed moms when children developed long-term mental or physical health problems. Now, a new study suggests someone else may play a bigger role than once thought: Dad. By age 7, children whose fathers were less attentive to ...
Microsoft actually does something useful, adds Sysmon to Windows
: After years of bolting AI onto everything, Redmond remembers admins exist
Fort Lauderdale tightens alcohol restrictions within entertainment district
How diabetes in pregnancy may be linked to epilepsy in babies
And more health news from the Morning Rounds newsletter
Software stock selloff goes global amid fears over AI-led disruption
Rolling coverage of the latest economic and financial news
Actors' Equity, IATSE, Other Entertainment Unions Condemn Kennedy Center Closure
Trump recently announced that the Center would be closed for two years for renovations.
BILL, American Express Global Business Travel, and DigitalOcean Shares Are Falling, What You Need To Know
A number of stocks fell in the afternoon session after fears of disruption from artificial intelligence spooked investors, leading to a broad-based sell-off.
M5 Pro and M5 Max MacBook Pro Launch Imminent as Reseller Stock Dwindles
New M5 Pro and M5 Max MacBook Pro models are slated to launch in the near future, according to information shared with MacRumors by an Apple Premium Reseller. The third-party Apple retailer said that MacBook Pro stock is very low currently because there is an imminent new product introduction. Apple typically coordinates supply with retail stores ahead of a new model launch to avoid leaving resellers with too many outdated machines.
Laura Smith | College of Business Advising
Laura Smith is an advisor in the College of Business at the University of Nevada, Reno.
Jim Cramer on Sysco: “The Business Is Clearly Doing Better Than People Thought”
Sysco Corporation (NYSE:SYY) is one of the stocks Jim Cramer shed light on recently. Cramer called the stock “cheap,” as he said: Next, how about this rally in Sysco, and that’s the SYY kind, the food distributor, not the networking giant. Sysco shot up almost 11% on Tuesday in response to the company’s earnings report […]
AI doctors are coming. Should FDA make sure they're safe?
In this edition of STAT Health Tech: A closer look at Doctronic's 'AI doctor' experiment in Utah, HHS' AI use cases, and more.
Pro-ag or pro-development? Conservationist Travis Thompson asks Florida leaders to support Florida Farm Bill
'Remember this, the final crop will be houses if we don’t protect agriculture.'
Plain language abstracts can help reduce misuse of science
Plain language abstracts will be a significant step toward helping those who want to understand research.
Dramatic reductions proposed for US science agencies by Trump ...
Final 2026 budget figures, passed by Congress and signed into law, reject significant cuts that the White House had proposed
Normalizing surveillance under the banner of helping lost pets
Now, surveillance doesn’t arrive announcing itself as surveillance. It shows up wagging its tail, asking for help, and hoping you won’t notice that the cameras never stop looking.
What is the US strategic minerals stockpile?
President Trump said the stockpile would 'ensure that American businesses and workers are never harmed by any shortage'.
Jocelyn Benson leads governor's race in fundraising in new reports
The new reports showed an evolving race for Michigan's top political office with some candidates building financial stockpiles, a sign of strength.
SBA bars green card holders from business loan ownership starting March 1
A new Small Business Administration policy taking effect March 1 will bar businesses with any legal permanent resident ownership from receiving SBA-backed loans, reversing longstanding eligibility rules and moving in a direction that lenders say
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.
Lindsey Hendrickson | College of Business Advising
Lindsey Hendrickson is an academic advisor in the College of Business at the University of Nevada, Reno.
Microsoft Stock (NASDAQ:MSFT) Falters on Hibernation Fix Flop, Unexpected Xbox Permaban
Tech giant Microsoft ($MSFT) has not been having a great Monday so far. Reports of a hibernation bug previously thought fixed have emerged to say that the fix did n...
When Can I Trust What Scientists Say?
Claims are based on evidence, and different kinds and quantities of evidence provide different levels of confidence.
We’re All Being Played By Metrics
A new book explores what we lose when we’re always keeping score—at work, in life, even within ourselves. Can games help set us free?
AI-supported mammography more effective than standard screening, new large-scale study contends
The findings come from Sweden's Mammography Screening with Artificial Intelligence, or MASAI, a randomized clinical trial incorporating over 105,000 women.
Report advises on how investors can make public health a safe bet
The “Investor Action on Health” report examines how investors can move the dial on health areas to make them ripe for investment.
Daiwa Profit Beats Estimates on Equity Trading, Wealth Business
Daiwa Securities Group Inc.’s profit beat estimates last quarter, as Japan’s stock market boom bolstered its equity trading and wealth management businesses.
State Department announces no citizen initiatives made 2026 ballot; pot campaign says that's premature
Smart & Safe Florida says enough signatures were submitted and verified in county offices before a Sunday deadline.
Chicago police issue alert for string of business burglaries, armed robbery on Northwest Side
Chicago police issued an alert on Sunday about a string of business burglaries and an armed robbery on the city's Northwest Side.
Meet the Class of 2025 Arizona Sports Hall of Fame
Seven standout athletes and leaders are being honored for shaping Arizona’s sports legacy across generations. Meet the Class of 2025 Arizona Sports Hall of Fame
The EV Business Is Slowing in China. What That Means for Tesla Stock.
Combined, NIO, Li, and XPeng sold 74,861 in January, up 1% from a year ago but the slowest growth since January 2023.
Health care costs are cannibalizing the economy — consumers can fight back
American health care costs are cannibalizing the economy, with 2024 national health expenditures reaching $5.3 trillion, double the developed-world average, and hidden prices being the main reason …
National Retailer To Close 2 CT Locations: Here's Where, When: CT Business News
Restaurant Ranks Among Top 100 In U.S./ Most Romantic Restaurants/ Popular Eatery Closes/ Colony Grill Updates/ Pizza Chain Opens New Spot
New Guide Aims to Improve UTI Care as Telehealth Use Grows
By I. Edwards HealthDay ReporterSUNDAY, Feb. 1, 2026 (HealthDay News) — Urinary tract infections, or UTIs, send millions of Americans to urgent care every year. But today, many people no longer see a doctor in person. Instead, they message their clinic, use video visits or fill out online forms to get antibiotics, sometimes ...
High school basketball: Saturday's scores
CIF City Section and Southern Section high school boys' and girls' basketball scores for Saturday's games.
Samsung Galaxy Z TriFold Phone quickly sells out online despite near $3,000 pricetag
The TriFold went on sale this morning in the U.S. It was out of stock within minutes.
Jim Cramer Discuses Halliburton’s (HAL) Infrastructure Business
We recently published 11 Stocks on Jim Cramer’s Radar. Halliburton Company (NYSE:HAL) is one of the stocks on Jim Cramer’s radar. Oil and gas exploration equipment provider Halliburton Company (NYSE:HAL)’s shares, like those of its peer SLB, have also performed well recently. They are up by 28.8% over the past year and by 13% year-to-date. […]
Vermont high school sports scores, results, stats for Saturday, Jan. 31
Vermont high school sports scores and results as reported to the Burlington Free Press sports department.
Gaming Stocks Plunge As Google AI Clones 60 Seconds Of ‘Fortnite’
Google Genie 3 has caused market fears that big video games are going to start being easily generated by AI. That is not even close to the case.
Netflix may be turning into an ‘entertainment giant,’ but its stock looks like ‘dead money’ to investors
"They had this really great profitability story," S&P's Melissa Otto says. But when that feels priced in, "that's probably going to spoil the market."
Netflix may be turning into an 'entertainment giant,' but its stock looks like 'dead money' to investors
"They had this really great profitability story," S&P's Melissa Otto says. But when that feels priced in, "that's probably going to spoil the market."
NVIDIA only gave minutes to buy the GeForce RTX 5090/5080 Founders Edition at MSRP, in the first drop since early December
NVIDIA GeForce RTX 5090 Founders Edition restock hits Europe, sells out in minutes NVIDIA’s Marketplace saw its first Founders Edition restock in over a
TikTok Superstar Khaby Lame’s Big Deal—Which Saw Him Valued At $6.6 Billion—Raises Red Flags, Experts Say
The all-stock transaction revolved around a small Chinese firm with less than $6 million in revenues, which went public just six months ago and saw its stock skyrocket over 650%
Google’s Project Genie Experiment Causes Video Game Stocks to Suddenly Crash as Investors Believe Games Will Be Made Solely with AI
The public release of Google's Project Genie experiment, capable of creating virtual worlds from a prompt, caused video game stocks to crash.
PENN Entertainment, Inc. (NASDAQ:PENN) Receives Consensus Recommendation of "Hold" from Brokerages
PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) has received an average rating of "Hold" from the eighteen analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to
2026 heart health faculty experts list
February is American Heart Month. The University of South Carolina is home to many faculty members who are available to offer their expertise in cardio care and research.
Video game company stock prices dip after Google introduces an AI world-generation tool
Prediction markets.
Unity, Video Game Stocks Fall as Google’s AI Tool Sparks Fears
Unity Software Inc. and video game stocks plunge Friday on fears of possible artificial intelligence disruption after Google began to roll out Project Genie.
Samsung Galaxy Z TriFold launches in the US, sells out in minutes
Again, extremely low stock is likely to blame. As promised Samsung brought its latest and greatest to the US today with its Galaxy Z TriFold. The handset...
County Health Endorses American Academy Of Pediatrics 2026 Child And Adolescent Immunization Schedule
Santa Barbara County Health Department endorses American Academy of Pediatrics’ 2026 Recommended Child and Adolescent Immunization Schedule
Video game stocks nosedive as Google's 'Project Genie' allows virtual world creation
Video game stocks plunge after Google’s Project Genie reveal.
Videogame stocks slide on Google's AI model that turns prompts into playable worlds
Shares of videogame companies fell sharply in afternoon trading on Friday after Alphabet's Google rolled out its artificial intelligence model capable of creating interactive digital worlds with simple prompts.
Senior Bowl Day 3 Risers
The Senior Bowl practices have concluded and the final day ended with a triumphant and chaotic finale. Who rose their stock in their last chance to perform in front of scouts before the Saturday game and the Combine?
Here is What to Know Beyond Why AMC Entertainment Holdings, Inc. (AMC) is a Trending Stock
Zacks.com users have recently been watching AMC Entertainment (AMC) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
The Next Crisis Won’t Wait: Why Pandemic Preparedness Is a Business Imperative
Global health security —the ability to protect against the negative impacts of disease outbreaks — is too important to be left solely to the public sector. Industry has a vital interest in helping countries better prepare for future epidemics and pandemics.
Prison Stocks Tumble With ICE Backlash Stoking Business Angst
Wall Street investors who drove a massive surge in the shares of the two biggest private prison operators when President Donald Trump won the US election are seeing the trade fizzle out barely a year into his second term.
New radon story map explains how it enters the indoors, health risks and how to fix it
The latest story map published by EGLE provides a detailed look at radon.
Joint Commission partners with STS, ACC on new cardiac care certification
The new certification is intended to focus on the importance of high-quality care and real-world patient outcomes. It will be based on the same data care teams already submit if they participate in the STS Adult Cardiac Surgery Database, ACC CathPCI Registry or STS/ACC TVT Registry.
Honeywell's business and stock are looking good — Cramer has this advice for investors
Honeywell shares jumped on Thursday after the industrial conglomerate capped off 2025 with a strong fourth quarter and moved up its aerospace spinoff.
Meta Stock Jumps After AI 'Book of Business' Hits $12.5B
META Shares Climb on Strong Advertising and AI Growth
Department Launches Outreach Campaign to Promote Stream Protection, Herd Health
Department Launches Outreach Campaign to Promote Stream Protection, Herd Health Up to 87.5% Cost-Share Available for Most Practices ANNAPOLIS, MD (January 29, 2025) – The Maryland Department of Agriculture has launched a new public awareness campaign to educate farmers about the environmental and animal health benefits of fencing livestock out of streams and providing them with Read the Rest…
The Joy Rematch: How can sports win over non-fans?
How can sports leagues attract non-fans? Download The Joy Rematch to see how leagues can secure this untapped market.
How much B6 is safe? What to know about the supplement found in energy drinks
Poisoning caused by too much of the popular nutrient is rare, but cases are ticking up. Experts warn that people may not be aware they’re getting too much.
Why I decided to share all my health information with ChatGPT Health
“I don’t think people should have to go through 18 years of brain cancer to understand their own health records,” writes Liz Salmi.
Online Gambling Corrupts Sports—And Americans, Too
The legalization of sports betting, especially at the college level, is a corruption not only of athletics and of education but of American society in general.
Tampa Bay Business and Wealth under new ownership, and the transaction is made-for-TV drama
Bridgette Bello’s departure from the magazine turns out to be more than what it seemed.
Darden Restaurants: Wonderful Business At A Below Average Price
Darden Restaurants (DRI) shows resilient sales amid inflation, trades below its 10-year P/E, and targets 9% sales growth. Read the latest analysis on the stock here.
Starbucks Says Turnaround ‘Ahead of Schedule’ as Sales Rebound
The coffee chain’s stock jumped after a better-than-expected earnings report.
Twenty One Capital: Wen Business, Ser?
Twenty One Capital came public via SPAC merger but has since plummeted by nearly 30% since deal closure. Click here to find out why XXI stock is a Hold.
Night Owls Have Worse Heart Health, Study Finds
By Dennis Thompson HealthDay ReporterWEDNESDAY, Jan. 28, 2026 (HealthDay News) — Do you prefer to stay up late, living it up through the night while everyone else is snoozing away? You might be doing your heart health a disservice, a new study says. Middle-aged and older night owls appear to have ...
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
Tesla bet big on Elon Musk. His politics continue to haunt it.
Tesla struggles to regain its footing in the electric vehicle market, hindered by Elon Musk’s political activity, impacting its stock price and performance.
People who naturally stay up late may have worse heart health than early risers
Adults who described themselves as night owls, especially women, can minimize risks with healthy lifestyle behaviors.
Why some hospitals are making their own ChatGPTs for patient records
Some large health systems are building their own AI-powered chatbots to make it easier for their clinicians to query patients' health records.
Is Teladoc Health (TDOC) A Potential Opportunity After Prolonged Share Price Weakness
If you are wondering whether Teladoc Health at around US$5.91 is a bargain or a value trap, this breakdown is designed to give you a clear, structured view of where the stock stands today. The share price has retreated recently, with a 2.6% decline over the last 7 days, a 17.0% decline over 30 days, a 16.2% decline year to date, and a 43.8% decline over the past year, on top of a much larger 79.9% decline over 3 years and 97.8% over 5 years. Recent coverage around Teladoc Health has focused...
House Health Panel Member Kevin Hern Sold UnitedHealth Amid Stock-Trading Ban Push
Disclosures show the Oklahoma Republican sold up to $500,000 in UnitedHealth stock while serving on a committee that oversees payments for health care.
Paranoid WhatsApp users rejoice: Encrypted app gets one-click privacy toggle
: Meta also replaces a legacy C++ media-handling security library with Rust