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Can Mike LaFleur’s Cardinals challenge Rams?
Can former Rams OC be the next McVay coach to have success?
Supreme Court, with no dissents, rejects GOP challenge to California's new election map
With newly drawn maps, California may elect five more Democrats to Congress while Texas elects five more Republicans.
Philly businesses face new city taxes and higher bills this season
An exemption to the Philadelphia business income and receipts tax, known as BIRT, was eliminated in 2025, leading to new taxes for smaller operations.
Dolphins add former second-round pick to wide receiver room
Terrace Marshall Jr. brings size and potential to the Miami Dolphins’ WR room.
HCPro Joins National Cooperative of Health Networks to Support Rural Healthcare Workforce Development
Chicago, IL, Feb. 04, 2026 (GLOBE NEWSWIRE) -- HCPro, a leading provider of healthcare education and regulatory solutions, today announced its partnership with the National Cooperative of Health Networks Association (NCHN), reinforcing HCPro’s commitment to supporting rural and community healthcare organizations through practical, role-based workforce education. As a partner of NCHN, HCPro will contribute expertise and resources to help rural health leaders address ongoing workforce challenges,
Knicks open challenging stretch of games as Nuggets visit
Knicks open challenging stretch of games as Nuggets visit
Five Outstanding Alumni to Be Inducted into UConn Business Hall of Fame
Basketball legend Emeka Okafor will be part of another acclaimed 'starting five' at the April 24 ceremony
Europe and North America Home and Small Business Security System Market Report 2026: DIY Convergence, AI Integration, and Smart Home Competition Reshape the Landscape
Significant opportunities exist in expanding home and small business security systems, particularly in Europe, where penetration is lower. Growth is driven by interactive services, smart home integration, and the rise of DIY security solutions, posing challenges and opportunities for traditional providers. Installed Base of Profesionally Monitored Home and Small Business Alarm Systems in EU27+3 and North America, 2024-2029 Installed Base of Profesionally Monitored Home and Small Business Alarm S
Zellner declares victory in special election for state's 61st Senate District
With 93.5% of the expected vote reporting, he will defeat Republican challenger Dan Gagliardo with 59.5% of the vote.
‘The law is on our side’: Sen. Kelly appears in court to challenge efforts to punish him over ‘illegal orders’ video
Local businesses face challenges after winter storms
Small businesses in Greenville are working to recover from recent winter storms that caused closures and disrupted local supply chains.
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.
Medicaid cost, DCF oversight among CT lawmakers’ 2026 priorities
Connecticut legislators have lofty ambitions to tackle major health and human services challenges during the 2026 legislative session.
American high school student stuns scientists by mapping 1.5 million previously unknown space objects - Futura-Sciences
A young mind builds an AI breakthrough Matteo Paz, a student at Pasadena High School, joined the Planet Finder Academy in the summer of 2022. The program immerses students in real world astronomy challenges. Under the mentorship of Caltech scientist Davy Kirkpatrick at the Infrared Processing and Analysis Center (IPAC),...
Roger Goodell thinks longtime Patriots coach Bill Belichick will reach Hall of Fame eventually: 'We are not involved'
5 Takeaways from Roger Goodell's Super Bowl Press Conference
Roger Goodell broke news about the NFL's international schedule, where things stand on an 18-game regular season and what he thought about Bill Belichick's Hall of Fame snub.
Energy Department Announces Members of the Office of Science Advisory Committee, Strengthening Gold Standard Science in America
The U.S. Department of Energy (DOE) today announced the chair and members of the newly established Office of Science Advisory Committee (SCAC), a unified advisory body that will provide independent advice on complex scientific and technical challenges across the Department’s Office of Science.
Marshall Health uses remote care to help employees achieve weight loss goals
By pairing medication therapy with consistent, telemedicine-enabled clinical oversight and care management support, the health system's program tackles the behavioral and lifestyle components necessary for success.
Rider’s 2025 business Hall of Fame inductees announced
Honorees’ expertise spans finance, accounting, entrepreneurship, operations
Luzerne County Arts & Entertainment Hall of Fame accepting nominations
The Luzerne County Arts & Entertainment Hall of Fame is now accepting nominations for its induction class of 2026.
Survey finds prior authorization viewed as greatest hurdle in navigating health care
A KFF survey published today found that people view prior authorization as the biggest challenge beyond costs when navigating the health care system. In terms of issues people viewed as a “major burden,” prior authorization was highest at 32%, followed by understanding their bill or what they owe at 23%.
Improve Heart Health With Start TODAY's February Challenge
February is American Heart Month so TODAY fitness contributor Stephanie Mansour stops by Studio 1A with what you should know about your heart health and shares a 28-day exercise move with heart challenge for the month of February.
Las Vegas project manager talks challenges in developing commerical real estate
Las Vegas is a high-velocity market with strong demand drivers, but it rewards disciplined execution and punishes uncertainty, said Art Zargaryan, CEO of Pegasus Development.
Poll: People View Prior Authorization as Greatest Burden in Navigating the Health System
New KFF polling explores the challenges beyond costs that people with insurance face in navigating the health care system. People cite prior authorization review as their top problem by a wide margin, with a third (32%) saying prior authorization requirements are a “major burden.
Lewis family leads Class of 2025 Kitsap Sports Hall of Fame honorees
The Lewis family accepted the first-ever Bob Fredericks lifetime achievement award.
KFF Health Tracking Poll: Prior Authorizations Rank as Public’s Biggest Burden When Getting Health Care
KFF's health tracking poll finds that beyond costs, insured adults say prior authorization is their biggest challenges when accessing care. About seven in ten (69%) insured adults say prior authorizations are burdensome, and a third (34%) choose prior authorizations as their single biggest health care burden.
U.S. Bank Business Shield™ Visa® Card Offers Intro 0% APR for up to 18 Billing Cycles
New business credit card offers rewards and access to Spend Management platform to monitor, track, and control spending U.S. Bank, a leading provider of payment services and solutions, today announced a new business credit card designed to help small business owners navigate fluctuations in finances and resources: the U.S. Bank Business Shield™ Visa® Card . The U.S. Bank Business Shield™ Visa® Card offers small business owners a new solution for navigating expected and unexpected expenses. This new business credit card offers a 0% introductory APR on purchases and balance transfers for 18 billing cycles when applying at any U.S. Bank branch and 12 billing cycles when applying in digital channels – all with no annual fee. Plus, cardholders can enjoy a suite of benefits to help navigate the foreseen - and the unforeseen - needs of their small business. “The Business Shield Visa card is designed to help business owners navigate the unpredictable financial and resource challenges that
Expected rise in uninsured Ohioans could signal new stress for providers, poorer public health
Expiration of enhanced tax credits that helped hundreds of thousands of Ohioans afford health insurance has the health care industry bracing for new stress on already-challenged resources and a long-term decline in public health.
A Cure For Sour Feelings About Politics? Get People To Love Their Hometowns
The positive feelings people have toward their community translate directly into civic engagement.
Dragon Quest VII Reimagined Review - Smooth Sailing
Even if the challenge isn’t always there, those who’ve set sail on this adventure before will find plenty to love in this latest expedition.
VASVIK's Annual Industrial Research Awards: Celebrating Indian scientists for their innovation and achievements
VIVIDHLAXI AUDYOGIK SAMSHODHAN VIKAS KENDRA (VASVIK) hosted its 51st Annual Industrial Research Awards on January 31, 2026, at B. J. Hall, Vile Parle (West), Mumbai. BK Radhika Didi, Brahma Kumari, and Lord Dr Frank Mentrup, Mayor of Karlsruhe, Germany, honoured the event as Chief Guests.
Hundreds attend South Bend mental health event urging funding for crisis platform
Hundreds from the St. Joseph County community gathered at the Islamic Society of Michiana's Community Hall in South Bend on Sunday to celebrate the community's
DiffSyn: a generative diffusion approach to materials synthesis planning
Nature Computational Science - A generative AI approach is developed for predicting materials synthesis recipes—a complex challenge in materials science. Using this approach, the authors...
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
How One Father Challenged the Measure of Care and Crafted a Global Healthcare Solution
And in that convergence, Sunstone Health finds both its purpose and its promise.”
Speaker Mike Johnson says he's 'confident' shutdown will end by Tuesday
Despite his one-vote majority in the House and weather-related challenges, the GOP speaker said the partial shutdown won't last long.
Blues superfan Laila Anderson talks ahead of St. Louis Sports Hall of Fame induction
Laila Anderson, 17, is set to be inducted into the St. Louis Sports Hall of Fame on Wednesday.
Basil Talbott Jr., Chicago Sun-Times political editor and journalist, dies at 89
Basil Talbott spent more than 30 years at the Sun-Times and was widely respected by his colleagues as a truth-seeker who bluntly challenged obfuscation.
Takeaways From Gavin Newsom’s New Memoir, ‘Young Man in a Hurry’
His introspective memoir tries to challenge the conventional wisdom about his upbringing, explores his marriages and airs a little dirty laundry — but says relatively little about politics.
Tigers Drop Close Section Battle To Rams
By: Jared Barton The North Allegheny girls’ basketball team hosted Pine-Richland for a section clash Saturday night from UPMC Court. Despite a back-and-forth battle, the Rams prevailed with a 33-30 win. The first half was a low-scoring affair, as senior Maddie Williams hit a triple for the Tigers, giving NA a brief 3-2 lead. Pine-Richland… More »
Aurora restaurant concerned new city construction project may hurt nearby businesses
Casa Vallarta Mexican Restaurant in Aurora has survived a lot of trials since it opened its doors in 1998. It is now preparing for yet another challenge as a major construction project is set to begin nearby.
Hally Leadbetter dishes on her new golf snack, mental health awareness
The brightest, cheeriest booth at the 2026 PGA Show belonged to Hally Leadbetter, who recently launched a new wellness and lifestyle brand,
Clark's 19 lead Seton Hall over Marquette 69-64
NEWARK, N.J. (AP) Adam Clark's 19 points helped Seton Hall defeat Marquette 69-64 on Saturday.
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.
Today in History - Jan. 31: Nebraska football player inducted into Omaha Sports Hall of Fame
On this day in 2013, a man who helped Nebraska football win its first national championship was welcomed into the Omaha Sports Hall of Fame.
IN PHOTOS: Adaptive winter sports for veterans
Armed services veterans spent a week conquering challenges at Mount Sunapee.
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. […]
The 6-6-6 Walking Challenge Is Going Viral for Weight Loss and Other Benefits. Does It Work?
Discover whether the latest fitness trend is safe and effective.
People leaving Massachusetts pose new challenge for Healey, Paley, and the state
Like a true venture capitalist, state economic development secretary Eric Paley sees opportunity in the latest Census data. Even though it looks kind of gloomy.
Improving Marquette aims for first road win at Seton Hall
After its best overall performance of the season, Marquette will bid for its first road win of the season when it travels to Newark, N.J., to face Seton Hall on Saturday afternoon.
Tickets on sale for Midland County Sports Hall of Fame’s 2026 induction
Buy $60 tickets now for the Midland County Sports Hall of Fame induction on April 11 at Dow Diamond; seating is limited.
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
Tech CFOs face a new challenge: Selling unprecedented capex as ‘disciplined’
Meta and Microsoft CFOs frame AI spending as disciplined, demand-driven.
LG's leaving Samsung unchallenged in a key next-gen TV category
There's only one big hitter left
Philadelphia nonprofit helps people with mental health, intellectual challenges find job opportunities
A Philadelphia nonprofit is finding job opportunities for people with mental health and intellectual challenges.
Denver Health doctor says eye care faces unique challenges in winter months
Colorado's snow drought creates economic challenges for ski resorts, local businesses
Gen X and millennial inheritance could take a hit due to health care costs and taxes
Generation X and millennials who may be receiving an inheritance from the previous generations may be receiving less than expected due to health care costs and taxes, according to experts. NBC News' Brian Cheung breaks down how this will impact the younger generation.
Medical group challenges study on diversity in military healthcare, urges deeper analysis
A group of medical professionals known as Do No Harm is challenging the Frakes Gruber study.
Health Care Provider Consolidation
I. Issue Overview Ongoing consolidation among hospitals, physician practices, and other providers poses a serious challenge to the U.S. health care system—offering potential benefits to some but also with significant worrying impact on rising health care prices. Provider consolidation remains pronounced among both hospitals and physician practices. The share of hospitals operating independently declined from … Continued
ICE Will Play a Big Factor in the Maine Senate Race
Seems like Republican senator Susan Collins is trying to take credit for the agency’s removal from the state. Governor Janet Mills, who’s challenging for her seat, had a rebuttal.
Groups Back Larson Challenger, Calling for Generational Change
Three outside political groups are backing Luke Bronin in his primary challenge to Representative John Larson, the 77-year-old Connecticut Democrat.
Genes may shape how long we live more than once thought
New research challenges the view that human life span depends mostly on lifestyle. Genes may account for half the factors that determine longevity.
World discovers it can hedge US trade risk
It will be many years before the United States' allies can contemplate dispensing with the need for its military might or challenging the tech supremacy of its Silicon Valley giants.
“Entertainment Weekly” reveals Breaking Big honorees for 2026 SCAD TVfest
Sean Kaufman ("For All Mankind"), Michelle Randolph ("Landman"), Amirah J ("High Potential"), and Taylor Dearden ("The Pitt") will speak on a panel moderated by EW's Gerrad Hall.
Pro Football Hall of Fame voter explains Bill Belichick snub
Vahe Gregorian of the Kansas City Star gave his reasoning for leaving the Patriots legend out of his top three
A new approach to challenging state abortion bans
And more health news from the Morning Rounds newsletter
Campaign over, Wu has to take on the messy work of running City Hall
Right on schedule, the adrenaline jolt of the campaign trail has been replaced by the much more challenging day-to-day grunt work of running city government.
Small businesses in Portland, Maine, navigate ICE protest challenges
Some small-business owners in Portland, Maine, are debating how best to support staff and customers amid a federal immigration crackdown.
Survey of over-50s women finds almost two in three struggle with mental health
Of those affected by midlife challenges such as menopause, nine in 10 do not seek help, therapists’ organisation says
Xavier 68-86 Seton Hall: What was that?
My first job in high school was cleaning bathrooms at a state park campground. Camping is a foul enough activity, but what people did in those bathrooms defies explanation. I say this to let you know I have stared into the dark heart of a man experiencing a bowel emergency and apparently the desire to […]
Rep. Ilhan Omar points finger at Trump's 'hateful rhetoric' after town hall attack
The man accused of carrying out the assault has social media accounts that include multiple photos in support of Trump and criticizing Democrats. The FBI is investigating.
'Let them sue us': Residents outraged over proposed mental health facility in Horry Co.
A town hall meeting turned heated as residents and mental health advocates debated the location of a proposed mental health facility.
Takeaways from CNN’s Minnesota town hall
Minneapolis Mayor Jacob Frey, in a CNN town hall Wednesday night, stood by the city’s sanctuary policies and repeated his demand that federal immigration agents leave the city.
America at a Boiling Point: From ICE Protests to an Attack on Rep. Omar
An attack at a town hall in Minneapolis, amid a surge in threats against lawmakers, was the latest sign of the fraying of the nation’s political fabric.
Bill Belichick snub: Here are the 23 Hall of Fame voters who have confirmed they voted for him — and the 1 'no' vote
Bill Belichick snub: Here are the 22 Hall of Fame voters who have confirmed they voted for him — and the 1 'no' vote
'EGREGIOUS!' Sports World Reacts To Bill Belichick’s First-Ballot Hall of Fame Snub
The sports world reacts to the news that NFL coaching legend Bill Belichick will not be a first-ballot Hall of Famer.
Oklahoma businesses face challenges as winter storm impacts sales
A winter storm in Oklahoma has significantly affected local businesses, leading to decreased customer visits and financial challenges.
Minn. companies pool funds to help small businesses amidst immigration enforcement surge
A couple dozen Minnesota companies have contributed about $4 million to a grant fund to support small businesses in the state as they navigate the challenges of meeting payroll and paying rent amidst the immigration enforcement surge.
Tom Brady, Robert Kraft respond on Bill Belichick's reported HOF snub: 'If he's not a first-ballot Hall of Famer, there's really no coach that should ever be'
Tom Brady slams snub of Bill Belichick for Pro Football Hall of Fame
Tom Brady came to Bill Belichick's defense after the Pro Football Hall of Fame snubbed the iconic Patriots coach
Trump’s immigration approach is gumming up the courts, frustrating his DOJ and judges
The Justice Department and federal courts are struggling to keep up with the exponential increase in federal court cases of immigrants in custody who are challenging their detentions, another result of the Trump administration’s aggressive immigration enforcement policies across the country.
NFL Hall of Fame snubs Bill Belichick and sports world is gagged: 'I can't be reading this right'
Sports figures from Patrick Mahomes to LeBron James expressed shock and outrage after news broke that Bill Belichick failed to gain Hall of Fame election on his first ballot.
Community invited to Terry Schools Science Fair Feb. 3
Terry Schools will host a 7th–12th grade Science Fair on Monday, Feb. 3, from 1 to 3 p.m. in the study hall at Terry High School.
Arctic scientists 'feel pretty uncomfortable' on Greenland
Science in the Arctic — and Greenland — is on the frontline of pressing challenges facing humanity, like climate change and genetics. Some researchers worry international collaboration is at risk.
OpenAI digs in on a fundamental disconnect in new research: AI is ready for primetime, many businesses aren't
The real challenge isn't building better AI—it's actually using it.
Kast’s Cabinet Set to Confront Distinctly Political Challenges
Chile’s president-elect has rolled out a pro-business cast of ministers, tasked with finding political solutions, an expert writes.
‘I don’t let bullies win’ Ilhan Omar says after attack, as Trump says he will ‘de-escalate’ in Minneapolis
President had mocked congresswoman hours before she was sprayed with unknown substance during a town hall event
Barry Keoghan Is Nearly Unrecognizable with Long Hair in London, Plus Halle Berry, King Charles, Queen Camilla and More
Barry Keoghan is nearly unrecognizable with long hair in London, plus Halle Berry, King Charles, Queen Camilla and more. From London to Los Angeles, and everywhere in between, see what your favorite stars are up to.
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
CCS Superintendent Angela Chapman is putting district on right path. We value her.
Superintendent Angela Chapman has put CCS on a path to meet that challenge and ensure opportunity reaches every student.
Spurs’ Victor Wembanyama pinpoints biggest challenge in Rockets matchup
In the midst of a lull, Victor Wembanyama and the Spurs are eyeing their rival Rockets in a rematch of a very recent game.
Illinois faces its toughest challenge yet in No. 2 UCLA
Wallace, Parchment, and the Illini look to make a splash in conference play
After town hall attack, Ilhan Omar condemns ‘terrorizing’ immigration push and criticism from GOP
Minnesota Rep. Ilhan Omar ignored staffers’ pleas to end a town hall early and get a medical check Tuesday after a man rushed the podium and sprayed a substance at the Democratic congresswoman.
Faith leaders form 'human wall' at Westbrook business to help protect workers from ICE
A local business in Westbrook says it's facing a challenge it has never seen before: workplace fear.