SCROLL NEWS / DISCOVERY
Search headlines
Find the stories shaping the conversation.
Results for " serve " 5,576 found 🔀 AI-powered Shuffle
CJ ENM, JYP CHINA And Tencent Music Entertainment Establish “ONECEAD”
CJ ENM have announced their joint venture project with JYP CHINA and Tencent Music Entertainment called ONECEAD, and introduces new Chinese boy group, MODYSSEY.
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?
Third Annual Dallas Entertainment Awards Bring Together Dallas Arts Scene
Produced by singer Dezi 5, the awards went off without a hitch last night.
PS5’s ‘Horizon Hunters Gathering’ Live-Service Game Looks Questionable, At Best
PS5's Horizon Zero Dawn is getting into the live-service game with Horizon Hunters Gathering, and these initial trailers and videos do not look great.
Business Owner To Governor: Brian Kemp On Georgia’s Economic Future
Georgia Governor Brian Kemp leads the efforts to boost the business environment in his state. I recently spoke with him about his work since taking office.
He Built a Server to Protect Indigenous Health Data
Joseph Yracheta was in charge of a repository that compiled and protected tribal health data. Then its funding was cut.
He Built a Server to Protect Indigenous Health Data
Joseph Yracheta was in charge of a repository that compiled and protected tribal health data. Then its funding was cut.
New Samsung Galaxy S26 Ultra Leak Confirms Bad Battery News
A new Samsung Galaxy S26 Ultra delivery more disappointing battery news for the upcoming flagship.
Bankers are considering AI's impact on a business when making loans
They’re more reluctant to make loans to companies whose industries are likely to be disrupted by AI.
Inaugural ASU–Science prize recognizes research that serves farmers from the ground up | American Association for the Advancement of Science (AAAS)
Meha Jain uses satellite imagery and machine learning to help smallholder farmers increase their food production sustainably.
Ryan Expands UK Business Rates and Property Tax Capabilities with Acquisition of WYM Rating
PLANO, Texas & EDINBURGH, Scotland, February 05, 2026--Ryan, a leading global tax services and software provider, is pleased to announce the acquisition of Williams Young McKaig Ltd, a specialized commercial property consultancy, and its specialist rating division, WYM Rating, based in Edinburgh. The acquisition establishes Ryan’s property tax and business rates presence in Scotland and expands the Firm’s ability to serve clients with complex commercial property portfolios across the United King
Poll: Most want Supreme Court to rule against Trump on tariffs, Fed control
Large majorities of the public want the Supreme Court to rule against Trump's tariffs and against his attempt to fire Lisa Cook from the Federal Reserve.
Google suggests Gemini-powered Siri will run on Google's servers
During Alphabet’s Q4 2025 earnings call, Sundar Pichai added to the confusion regarding where the upcoming Gemini-powered Siri will run.
IBX’s commitment to getting health care right
Health care costs are weighing heavily on everyday Americans and their families. Across the country, more people are seeking health care and prices for medical care and prescriptions continue to rise. As a result, health insurers are increasing premiums to keep up. At the same time, employer provided health coverage is eating into paychecks. All of this is making it more difficult for hardworking Americans to afford the coverage and care they deserve.
MIT's new brain tool could finally explain consciousness
Scientists still don’t know how the brain turns physical activity into thoughts, feelings, and awareness—but a powerful new tool may help crack the mystery. Researchers at MIT are exploring transcranial focused ultrasound, a noninvasive technology that can precisely stimulate deep regions of the brain that were previously off-limits. In a new “roadmap” paper, they explain how this method could finally let scientists test cause-and-effect in consciousness research, not just observe correlations.
Hochul picks running mate but leaves Albany observers guessing
Who exactly the governor has chosen to replace current Lt. Gov. Antonio Delgado remained a mystery Tuesday evening.
iOS 26.2.1 Problems Reported by iPhone Users After the Update
iOS 26.2.1 update brings bug fixes and AirTag 2 support, but some iPhone users report crashes, Face ID issues, and Maps problems.
Space tourism raises ‘urgent’ fertility questions, Nasa says
As more people travel beyond Earth, scientists have warned that the risks to reproductive health from zero-gravity and radiation remain little understood
Coaching rematch highlights Villanova-Seton Hall clash
Villanova and Seton Hall rarely -- if ever -- deviate from their preferred starting lineups, but both teams' reserves can play important roles when they're on their game.
N.Y. AG l to deploy legal observers to monitor federal immigration agents
Tensions remain high nationwide over President Trump's aggressive immigration crackdown.
The Review of Politics is pleased to welcome Thom Brooks to our editorial advisory board.
Professor Brooks serves as Principal of Collingwood College and holds a personal Chair in Law, Ethics and Government at Durham University, whe...
IndyCar tabs Monumental Sports & Entertainment as marketing, hospitality agency for Freedom 250 GP
Monumental Sports & Entertainment has been signed to “serve as the official marketing, sponsorships and corporate hospitality sales agency” for the Freedom 250 Grand Prix of Washington D.C., according to the IndyCar Series. MSE owns the Washington Wizards NBA team, the Washington Mystics WNBA team, the Washington Capitals NHL team,...
Samsung Galaxy S26 Ultra Release Date: New Leaks, Disappointing News
The Samsung Galaxy S26 Ultra release date has been confirmed, but some of the new specifications reveal disappointing news.
States and medical societies are stepping up to fill the CDC’s data void
Dozens of routinely updated CDC databases have gone quiet. Here’s what states and medical societies are doing to preserve U.S. public health
CEC Entertainment names CEO amid expansion push
CFO Scott Drake will become CEO and president of the eatertainment giant beginning Feb. 13, succeeding David McKillips, who has served in the post since 2020.
How GoCab Built A Business With Purpose In Africa And Beyond
GoCab enables drivers in Africa and other emerging markets to purchase their own vehicles so they can build sustainable businesses such as taxi and courier services
PGA Innovation Showcase Immerses Audiences In Entertainment’s Future
The Producers Guild showcased five immersive experiences vying for this year's Innovation Award, led by Sphere's immersive Wizard of Oz, showing where entertainment is headed.
Legacy Lawns Begins With a Question: What Happens to a Great Business When the Founder Is Ready to Step Back?
National Lawn Care Platform Launches to Preserve Legacy Businesses Through People-First PartnershipsGAINESVILLE, Ga., Feb. 02, 2026 (GLOBE NEWSWIRE) -- For most lawn care owners, the business isn’t just a company. It’s years of early mornings, customer relationships built one yard at a time, employees who became family, and a reputation earned slowly through consistency and care. But when it’s time to retire, step back, or simply breathe again, the question becomes painfully simple: Who will pro
State Health Secretary: Measles outbreak serves as reminder about how contagious virus is
Washington state is seeing its first measles outbreak in years.And state health leaders say it's an important reminder about just how contagious the virus can
Upcoming 'Foldable iPhone' Design Leaked With iPad-Style Button Placement
Upcoming foldable iPhone design leaked, revealing new button placement, punch-hole camera, black camera bar, and Apple’s biggest battery yet.
This global health leader praises Trump's aid plan -- and gears up to beat malaria
Bill Steiger, who served in the George H.W. Bush and first Trump administrations, reflects on the past year's changes in the U.S. role — and his new job as head of Malaria No More.
County staff seek clarity on how often sports leagues use the fields they reserve
Arlington County parks officials plan to renew efforts to determine how often sports leagues actually end up using the fields that they reserve in advance. The initiative has been ongoing for nearly two years but remains "a work in progress," said Ignacio Rodriguez, manager of sports leagues and athletic-field management for the Department of Parks
5 ChatGPT Prompts To Identify Your Highest-Leverage Activities In Business
Busy but not profitable? These 5 ChatGPT prompts reveal your highest-value activities so you can stop guessing and start growing.
Samsung Galaxy S26 Ultra Release Date: New Leaks, Disappointing News
The Samsung Galaxy S26 Ultra release date has been confirmed, but some of the new specifications reveal disappointing news.
Regal Ware revives historic West Bend Co. name for cookware factory
West Bend Co., which operates a manufacturing facility in West Bend, also serves as a contract manufacturer for other cookware companies.
Vanderbilt Health acquires Tennova’s Clarksville hospital and related physician clinics from Community Health Systems
Leaders with Vanderbilt Health announced today completion of the acquisition of Tennova Healthcare-Clarksville Hospital and freestanding emergency room Tennova ER-Sango, along with the hospital’s related businesses, including physician clinics and outpatient services, from Community Health Systems Inc. (CHS). Vanderbilt Health has held a 20% minority interest in these operations since 2021. Under Vanderbilt Health’s ownership, the 270-bed hospital will be named Vanderbilt Clarksville Hospital (VCH) while the freestanding Sango ER will be named Vanderbilt Emergency Sango. Also joining the Vanderbilt Health system through the acquisition are physician practice locations in Clarksville, Dover, Pleasant View and Tiny Town offering, depending on location, orthopaedics, primary care, wound care, digestive health, urology and surgical services. Acquisition of the hospital and its related physician practices expands Vanderbilt Health’s ability to serve patients across the region, supporting its ability to provide high-quality care in more convenient, community settings that are also more cost-effective. “We are thrilled to welcome Vanderbilt Clarksville Hospital into our health system. Providing exceptional care close to home is invaluable, and we are eager to serve the citizens of Clarksville and Montgomery County by expanding the hospital’s programs and services,” said Jeff Balser, MD, PhD, President and CEO of Vanderbilt Health and Dean of Vanderbilt University School of Medicine. This acquisition marks Vanderbilt Health’s fourth regional hospital expansion, further strengthening its presence across Middle Tennessee beyond its already extensive inpatient and ambulatory services in Nashville. VCH joins Vanderbilt Health’s network of regional medical centers that now include Vanderbilt Wilson County Hospital in Lebanon, Vanderbilt Tullahoma-Harton Hospital in Coffee County, and Vanderbilt Bedford Hospital in Shelbyville. With a strong record of growth and investment in people, programs and services for its regional hospitals, residents of Clarksville, Montgomery County and the surrounding region can expect that Vanderbilt Health will bring a host of adult and pediatric services to the area. Initial plans for VCH over the upcoming year include increased staffing for the hospital’s emergency services, including the addition of pediatric emergency medicine specialists with Monroe Carell Jr. Children’s Hospital at Vanderbilt, along with increased surgical specialty offerings. Longer term, physicians and staff will be recruited to bring a broader array of adult and pediatric specialty services to the community. “I am delighted to welcome the physicians, nurses and staff of Vanderbilt Clarksville Hospital into the Vanderbilt Health family and look forward to working closely with the hospital’s medical staff and members of the local health care community to ensure we excel at meeting their needs as caregivers as we pursue the goal of improving the health and wellbeing of the patients we serve,” said Jane Freedman, MD, Deputy Chief Executive Officer and Chief Health System Officer for Vanderbilt Health. Currently, VCH employs approximately 1,100 staff and more than 30 physicians. Through this acquisition Vanderbilt Health has committed to hire substantially all current employees who are in good standing. Services already established by Vanderbilt Health at VCH include an OB-GYN hospitalist program, an array of oncology services provided by a multidisciplinary team with Vanderbilt-Ingram Cancer Center, and neonatal care in the hospital’s Level II Neonatal Intensive Care Unit provided by specialists with Monroe Carell. VCH has been designated as an Accredited Chest Pain Center and a Wound Care Center of Distinction and has earned the Gold Seal of Approval from The Joint Commission. More information about Vanderbilt Clarksville Hospital is available at: vanderbilthealth.com/hospital/vanderbilt-clarksville-hospital
Lumen Completes Sale of Consumer Fiber-to-the-Home Business to AT&T
DENVER, February 02, 2026--Lumen Technologies (NYSE: LUMN) today announced that it has completed the sale of its Mass Markets fiber-to-the-home business in eleven states, including Quantum Fiber, to AT&T (NYSE: T) for $5.75 billion in cash. The sale includes substantially all of the related consumer fiber access network and customer relationships in those states, which serves more than 1 million fiber customers and reaches more than 4 million enabled fiber locations. The completed transaction is
Rust Coreutils Continues Working Toward 100% GNU Compatibility, Proving Trolls Wrong
Sylvestre Ledru who serves as the lead developer of the uutils project for the Rust Coreutils implementation presented at FOSDEM 2026 this weekend on this initiative
Small Businesses in Minneapolis Serve a City in Crisis. ‘This Is Our New Normal.’
In Minneapolis and St. Paul, business owners work to lift up a community that has been roiled by the presence of thousands of immigration agents.
Small Businesses in Minneapolis Serve a City in Crisis. ‘This Is Our New Normal.’
In Minneapolis and St. Paul, business owners work to lift up a community that has been roiled by the presence of thousands of immigration agents.
NBA All-Star reserves winners and losers: Who got snubbed?
The 2026 NBA All-Star Game is set for Feb. 15 at the Intuit Dome in Los Angeles, home of the Clippers, who won't have a single player in the field.
Broncos' unsigned practice squad players set to become free agents
The Broncos' practice squad players who have not received reserve/future contracts are set to become free agents on Monday.
Do scientists follow the data
Personal feelings about immigration subtly influenced how 71 teams of academics analysed the same figures in a study
Scientists’ political views change how they interpret identical data
Personal feelings about immigration subtly influenced how 71 teams of academics analysed the same figures in a study
Lord Wallace of Tankerness obituary
Influential Liberal and Lib Dem politician who served as Scotland’s deputy first minister from the outset of devolution
The Science of “the Giggle”: Why Laboratory Rats Love Being Tickled
If you think laughter and comedy are reserved strictly for humans, you’d be wrong. A study in the late 1990s showed that creatures like rats emit ultrasonic vocalizations while playing with or anticipating the opportunity to play with other rats. To make matters sillier, rats emitted similar vocalizations when they were subjected to manual somatosensory
How Disney Is Investing In Sports To Bring In New Fans
While Disney’s partnership with championship games isn’t going anywhere anytime soon, the company is growing its partnerships with sports teams, events and leagues.
Wichita celebrates life of Army veteran, business owner Paul White, Sr.
He served northeast Wichita community for decades as a longtime business leader and Santa Claus.
Trump jokes about suing his Federal Reserve nominee Warsh at elite Washington dinner
President Donald Trump joked that he might sue his newly selected Federal Reserve chair nominee, Kevin Warsh, over lowering interest rates in a speech to an elite group of Washington’s power set on Saturday night, according to a person who attended the dinner.
Scientists discover hidden geometry that bends electrons like gravity
Researchers have discovered a hidden quantum geometry inside materials that subtly steers electrons, echoing how gravity warps light in space. Once thought to exist only on paper, this effect has now been observed experimentally in a popular quantum material. The finding reveals a new way to understand and control how materials conduct electricity and interact with light. It could help power future ultra-fast electronics and quantum technologies.
Lake Shore Bank awards Small Business Recovery grant to WMH
WESTFIELD – Lake Shore Bank has awarded a $5,000 grant to the Westfield Memorial Hospital Foundation through the Federal Home Loan Bank of New York Small Business Recovery Grant Program, an initiative designed to support local organizations and economic resilience. The grant will help fund vital equipment, services and resources that benefit patients, families and…
Scott Galloway urges Big Tech boycott to influence Trump ICE policies
Small businesses struggled to observe the national shutdown to protest ICE. Here's why a boycott of companies like OpenAI and Amazon could be easier and more effective.
New Samsung Galaxy S26 Ultra Leak Confirms Disappointing News
The Samsung Galaxy S26 Ultra release date has been confirmed, but some of the new specifications reveal disappointing news.
Why The Challenger Disaster Still Matters To Business Leaders Today
Forty years on, the Challenger disaster remains a case study in what happens when organizations fail to allow for dissent and systematically challenge their assumptions.
9 Broncos players have not re-signed with team
Nine players who ended the season on the Broncos' practice squad have not signed reserve/future contracts with the team.
Albino or Leucistic? The Science Behind America’s “White Raccoons”
Imagine that you’re taking an evening stroll in the woods. All of a sudden, you spot a flash of color and two glowing eyes. The furry animal looks like a raccoon, but its all-white fur says otherwise. There’s no black fur and the bandit mask is missing entirely; only snow-white hair. What you’ve just observed
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.
When “The Cost Of Doing Business” Stops Making Sense In Healthcare
The healthcare industry has normalized a decadent sales culture. It’s time to rethink these industry normas.
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%
Preserve Italian culture & entertainment: Take in Ray Monte’s show celebrating his famous dad, in Lorenzo’s at the Hilton Feb. 27
Monte will honor his dad’s legacy through live performances with hits like “Dominick the Donkey,” “Lazy Mary,” “Angelina,” and “Darktown Strutters’ Ball."
Broncos sign another player to reserve/future contract
The Broncos signed CB Jaden Robinson to a reserve/future contract on Friday.
Feedback Friday: ‘Closer Look’ listeners react to intensifying daily politics, protests
This comes as tensions continue to rise in Minnesota after the shooting deaths of Alex Pretti and Renee Nicole Good by Immigration and Customs Enforcement agents. Earlier this month, Lemon and Fort both reported on a protest at Cities Church in St. Paul. It has been alleged that an ICE official serves as a pastor of the church, which sparked the protest. Following the incident, the Trump administration promised retaliation against Lemon.
The silent breakthrough: why Apple paid $1.5 billion for a secret Israeli startup
Apple has announced the acquisition of Israeli startup Q.ai, which developed technology that deciphers speech without sound, by reading micro-movements of the face and jaw, the system translates whispers and silent speech into words and commands
Samsung Galaxy S26 Ultra Release Date: Cancelled Model Confirmed
A brand new Galaxy S26 Ultra leak confirms Samsung's cancelled model and new camera design.
Warsh's challenge: Navigating Fed independence and Trump's demands
Kevin Warsh has sought the job of Federal Reserve chair, off and on, since President Donald Trump first considered him for the position nearly a decade ago
Delivra Health Brands Announces Appointment of New Director
Vancouver, British Columbia--(Newsfile Corp. - January 30, 2026) - Delivra Health Brands Inc. (TSXV: DHB) (OTCQB: DHBUF) ("Delivra Health", "Delivra" or the "Company"), a consumer packaged goods company uniquely positioned in the health and wellness sector, is pleased to announce the appointment today of John Barrett as a director of the board of directors of the Company (the "Board"). Mr. Barrett was previously a senior executive with Frito Lay and PepsiCo, and served as Chief Commercial...
Trump nominates Kevin Warsh to succeed Jerome Powell as Federal Reserve chair
The new Federal Reserve chair will step in as the world’s most powerful central bank faces scrutiny over interest rates and rising prices affecting Americans.
Atrium Health parent boosts pay for workers in Charlotte and the Carolinas
More than 165,000 Advocate Health workers to receive a bump in pay for minimum wage, as company expands health and retirement perks.
Cramping Alcaraz beats Zverev in epic to reach final
A cramping Carlos Alcaraz draws on every physical and mental reserve to beat Alexander Zverev in a five-set epic and reach the Australian Open final.
Trump to announce Federal Reserve chair nominee today; French economy slows
Rolling coverage of the latest economic and financial news
Trump expected to nominate Kevin Warsh for Federal Reserve chair
President Donald Trump is expected to announce Friday his intent to nominate Kevin Warsh to be the next Federal Reserve chair, according to two people involved in the process.
Sports Take: Super Bowl shows why NFL teams shouldn’t give up on QBs so quickly
The NFL is witnessing a growing trend of teams dumping young quarterbacks after only a few seasons. Stories of some of these quarterbacks reviving their careers prove that teams should invest in these players to develop into pro-level passers. The trend also serves as a warning for up-and-coming college quarterbacks.
Trump reveals when he will announce the next Fed chair
President Trump says he'll announce Jerome Powell's replacement as Federal Reserve chair Friday morning, escalating his ongoing criticism of monetary policy decisions.
IDF officials shift stance, accept Gaza Health Ministry data on death toll
After two years of war, senior military officials for the first time aligned with an update from Gaza’s Hamas-run Health Ministry, saying they estimate about 70,000 Gazans have been killed, excluding the missing, while stressing that efforts to distinguish terrorists from civilians are ongoing
Northwestern Mutual Data Science Institute launches new website
The Northwestern Mutual Data Science Institute has launched a new website designed to serve as a central hub for news, events and opportunities.
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.
The Science Behind Rare Gulf Effect Snow Potential In Tampa Bay
Could parts of Tampa Bay, Florida experience Gulf effect snow this weekend? Our expert explains.
Hims & Hers Super Bowl Ad To Spotlight The Health-Wealth Gap
Narrated by Common, HIms and Hers' 2026 Super Bowl ad highlights how income disparities shape health outcomes—and position affordability as part of the solution.
Senate committee reviews Gov. Beshear’s budget proposal
The proposal dedicates $500 million of the budget reserve trust fund to affordable housing, rural hospital assistance and food assistance.
‘I touch the future. I teach.’: A science teacher’s quest to honor Christa McAuliffe
Former Goffstown High School science teacher Phil Browne recalls how he tried to preserve McAuliffe’s legacy with his students.
Pulaski County Sports and Entertainment unveils new logo for Sportsplex
Pulaski County Sports and Entertainment unveiled a new logo on Wednesday for the Pulaski County Sportsplex, a transformative new indoor sports complex that will serve as a premier destination for athletic competition.
US Federal Reserve holds interest rates steady despite political pressure
The central bank will maintain rates at 3.5 to 3.75 percent and warned of 'elevated' economic uncertainty.
Fed holds interest rates steady, pausing rate cuts amid economic uncertainty
Federal Reserve policymakers left interest rates unchanged at its January meeting after cutting rates at its three prior meetings amid uncertainty over the labor market and inflation.
Pulaski County Sports & Entertainment Unveils Official Sportsplex Logo
New Facility Designed to Serve the Community and Welcome the World Pulaski County, Virginia – Pulaski County Sports & Entertainment is proud to unveil the official logo for the Pulaski County Sportsplex, a transformative new indoor sports complex that will serve as a premier destination for athletic competition while providing a year-round recreational asset for […]
Economic Forecast 2026: Key Opportunities For Small Business
Small businesses face cost pressures and uncertainty in 2026, but untapped pricing power and greater agility than large competitors offer paths to stronger growth
iOS 26.2.1—Update Now Warning Issued To Millions Of iPhone Users
Apple has released iOS 26.2.1, an important update that all iPhone users should apply now. Here's what you need to know.
Sames Auto Arena serves as entertainment hub with 2026 event lineup
In 2026, familiar and big names are returning to the stage, and the Sames Auto Arena is preparing for even more.
As More Founders Aim To Build Billion-Dollar, One-Person Businesses, New Research Points To High-Potential Niches
A new report points to areas where it is possible for solo founders to grow to $1 billion in revenue using AI, blockchain and a global team of freelancers.
FreshBooks 2025 Ontario Small Business Snapshot: Owners More Reserved Than U.S. Peers, but Most Say Their Businesses Are Stable
Ontario survey data shows lower optimism and higher interest-rate sensitivity than U.S. counterparts, while operating conditions stay steady for most businessesTORONTO, Jan. 28, 2026 (GLOBE NEWSWIRE) -- Ontario small business owners are entering 2026 with a more reserved outlook than their U.S. counterparts, reflected in lower economic optimism, softer financial sentiment, and greater sensitivity to interest rates, according to a new Ontario snapshot from FreshBooks’ 2025 State of Small Business
Who was Ajit Pawar, the Indian politician killed in plane crash?
Pawar was a key political figure and served as second-highest elected official in Maharashtra, India's wealthiest state.
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
Tear gas causes health concerns for Twin Cities residents
Federal agents are regularly using chemical irritants like tear gas in attempts to disperse protesters and observers in the Twin Cities. Medical experts say there’s a lot of uncertainty about the health impacts of those chemicals.
When AI Agents Turn Against You: The Prompt Injection Threat Every Business Leader Must Understand
As organizations deploy AI agents to handle everything, a critical security vulnerability threatens to turn these digital workers against their employers.
Feds OK New Mexico's $382 million broadband expansion plan for homes, businesses
The funding is slated to serve more than 42,000 unserved and underserved homes and businesses across the state.
Mental Health Crisis Line For Music Industry Launches A Year After Chappell Roan’s Grammy Speech
One year ago Chappell Roan used her time on stage at the Grammys to implore the music industry to provide artists with health insurance and a livable wage. This week Backline debuts B-LINE, a mental health and crisis support line the organization says is rooted in the movement Roan sparked at the podium.
Zipps Sports Grill releases statement on federal raids
'WE ARE COOPERATING FULLY': One day after federal agents served more than a dozen search warrants at Zipps Sports Grill locations across the Valley, the company issued a response.
‘Phoenix heat melts ICE’: Zipps Sports Grill Bar raids raise questions
Although the Department of Justice said it was not an official immigration action, Raul Piña, who serves on the Community Advisory Board for the Melendres v. MCSO case about racial profiling, disagreed. Piña said this technique of detaining undocumented immigrants was pioneered by former Maricopa County Sheriff Joe Arpaio.
Tea can improve your health and longevity, but how you drink it matters
Drinking tea, particularly green tea, is linked to better heart health, improved metabolism, and lower risks of chronic diseases like diabetes and cancer. It may also help protect the brain and preserve muscle strength as people age. However, processed teas—such as bottled and bubble varieties—often contain sugars and additives that may cancel out these benefits. Moderation and choosing freshly brewed tea appear key.
Governor’s goal of getting Oregon on CNBC’s Top 10 States for Business is misguided
Not only are the CNBC rankings irrelevant, the goal could serve as a pretext for giving corporate lobbyists what they’re always after: tax cuts.