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Three new FSU pitchers to know

The 2026 FSU pitching staff will look completely different.

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Jan 31 • 2:13 PM EST • Sports • tomahawknation.com
Winter dessert series begins this weekend

After two weeks of dealing with Old Man Winter, Stokes folks looking to get out of the house will have three entertainment opportunities this coming weekend, as Stokes Arts Community

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Jan 31 • 1:49 PM EST • Entertainment • thestokesnews.com
😐 Neutral (0%)
TCU looking to extend Colorado's six-game slide

The Big 12 Conference is loaded with talented teams, as Colorado and TCU both experienced earlier this week.

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Jan 31 • 1:00 PM EST • Sports • cbssports.com
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Ben Johnson Could Poach Dan Campbell’s Right-Hand Man

Ben Johnson could look to Detroit for coaching help as the Bears search for offensive staff. Could Lions assistant Scottie Montgomery be next?

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Jan 31 • 12:40 PM EST • Sports • detroitsportsnation.com
The P&Q Interview: Africa's Rabat Business School Looks To Seize The Moment Amid International Talent Shifts

Rabat Business School Dean Nicolas Arnaud on Africa’s rise, global rankings, and why the continent is drawing business schools’ attention.

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Jan 31 • 11:34 AM EST • Business • poetsandquantsforundergrads.com
Transfer Portal: Most portal departures by school

With the transfer portal window officially closed, it’s time to look back and see which programs were hit with attrition. In most cases, coaching turnover led to a mass exodus, but there were other reasons, too. Oklahoma State surpassed Colorado’s record 56 departures from 2023 with 64 players leaving the program. Iowa (eight) had the fewest transfer portal […]

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Jan 31 • 11:07 AM EST • Sports • sports.yahoo.com
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

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Jan 31 • 11:00 AM EST • Science • a-z-animals.com
5 players to watch at the 2026 Panini Senior Bowl

A look at who the Chiefs should have an eye on during this year’s Seniow Bowl.

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Jan 31 • 10:30 AM EST • Sports • arrowheadpride.com
We’ve got rhythm — but why? What science can explain about dance

Dancing uses overlooked senses and may tie to our deep evolutionary past. Knowing that can only make it more magical.

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Jan 31 • 9:30 AM EST • Science • mercurynews.com
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."

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Jan 31 • 8:30 AM EST • Entertainment • finance.yahoo.com
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."

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Jan 31 • 8:30 AM EST • Entertainment • fortune.com
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How Inforum's new leader sees future of women's business organization

CEO Donna Murray-Brown looks to build on work the statewide women's business organization has done since its beginning in 1961.

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Jan 31 • 7:02 AM EST • Business • freep.com
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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.

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Jan 31 • 6:00 AM EST • Business • bostonglobe.com
CT Culture Corner: This 'Wicked' Bible forgot an important word

Yale will be holding an exhibition that looks at printing errors in history in the spring.

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Jan 31 • 5:00 AM EST • Entertainment • ctinsider.com
How the right won the internet

In the second part of our series on digital politics, we look at how online provocateurs have advanced extreme political ideas – and watched them seep into the mainstream, says digital media academic Robert Topinka

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Jan 31 • 3:00 AM EST • Politics • theguardian.com
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Oklahoma State, Utah look inward for more respectable defense

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

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Jan 30 • 9:55 PM EST • Sports • cbssports.com
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Broncos interview top Commanders' assistant for offensive coordinator

The Denver Broncos are looking for a new offensive coordinator and recently interviewed a top Commanders' assistant.

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Jan 30 • 8:38 PM EST • Sports • commanderswire.usatoday.com
CSC opens investigation into LSU for possible unreported NIL deals, per report

The CSC will look into whether LSU failed to properly report NIL deals

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Jan 30 • 7:21 PM EST • Sports • cbssports.com
News | Mixed-use tower proposed as 'catalyst' to revive Vancouver's Granville entertainment district

Bonnis Properties looks to build 35-story hotel and apartment project

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Jan 30 • 7:00 PM EST • Entertainment • costar.com
Central Nebraska to host Ag Health and Safety Day Feb. 3

An agricultural health and safety event will take place Feb. 3 at the Dayspring Bank Event Center in Gothenburg, offering farmers and ranchers a comprehensive look at industry safety beyond traditional approaches.

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Jan 30 • 5:40 PM EST • Health • 1011now.com
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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.

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Jan 30 • 3:50 PM EST • Politics • wabe.org
Official Samsung Galaxy S26 series renders leak, putting to rest all the rumors

This is your best look yet at the upcoming Samsung Galaxy S26 phones.

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Jan 30 • 1:14 PM EST • Technology • phonearena.com
Galaxy S26 series specs, official-looking images leak ahead of February 25 launch [Gallery]

Samsung’s Galaxy S26 series is looking all but confirmed for a February 25 launch event, while new leaks reveal official-looking...

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Jan 30 • 11:10 AM EST • Technology • 9to5google.com
Sneak peek: First look at The HUB, new restaurant concept in Brooklyn

The HUB is a unique dining concept in Jacksonville's Brooklyn neighborhoo featuring three restaurants. Here's a sneak peek inside.

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Jan 30 • 10:56 AM EST • Entertainment • jacksonville.com
Pokémon GO February 2026 Events

The Pokémon GO February 2026 events schedule is here! In February, featured Pokémon are Solgaleo, Lunala and Growlithe. A variety of different Pokémon will be featured throughout the month, and there is a whole host of in-game events to look forward to! Here are all the major events happening in February 2026 in Pokémon GO, as […]

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Jan 30 • 10:19 AM EST • Technology • pokemongohub.net
Louisiana has lengthy list of Grammy nominees. Here's who to look out for this year.

And the Grammys go to ...

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Jan 30 • 10:01 AM EST • Entertainment • theadvocate.com
The World’s Largest Biological Battle Is Being Fought in Space

But this evolutionary “arms race” looks a little different when playing out in microgravity.

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Jan 30 • 9:30 AM EST • Science • popularmechanics.com
Scientists take first look inside one of world’s most extreme engines

Scientists used optical diagnostic techniques to 'see inside' solid-fuel ramjets, one of the most extreme engines in the world.

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Jan 30 • 8:27 AM EST • Technology • interestingengineering.com
The best new science fiction books of February 2026

We pick the sci-fi novels we’re most looking forward to reading this month, from a new Brandon Sanderson to the latest from Makana Yamamoto

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Jan 30 • 8:00 AM EST • Science • newscientist.com
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I'm a Pro Photographer and Xiaomi's 17 Ultra Leica Phone Looks Amazing

Commentary: This phone packs some key camera upgrades that make it a contender for one of 2026's best camera phones.

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Jan 30 • 8:00 AM EST • Technology • cnet.com
Champions League's best playoff matches: Mourinho returns to Madrid

The UEFA Champions League playoff draw took place on Friday, here's what to look forward to

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Jan 30 • 7:36 AM EST • Sports • cbssports.com
NASA is funded. Now what?

With the upheaval of 2025 behind us, here's what we're looking for in space policy this year.

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Jan 30 • 7:00 AM EST • Science • planetary.org
Katharine Burr Blodgett’s legacy comes to light

The Lost Women of Science team uncovers Katharine Burr Blodgett’s overlooked brilliance

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Jan 30 • 6:00 AM EST • Science • scientificamerican.com
Leading scorer Jaylen Brown may miss Celtics' matchup vs. Kings

The Boston Celtics will be looking to avoid back-to-back home losses and may be without leading scorer Jaylen Brown when they face the Sacramento Kings on Friday night.

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Jan 30 • 5:13 AM EST • Sports • cbssports.com
Leon Goretzka move collapses: Atletico Madrid move onto other options

Atletico Madrid have been forced to look at other alternatives to Leon Goreztka with just four days left in the transfer window, after the Bayern Munich midfielder turned down a move to the Metropolit...

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Jan 30 • 4:35 AM EST • Sports • football-espana.net
3 potential assistant coaches for Commanders' defensive staff

The Commanders have a new defensive coordinator, which could mean several coaching changes on that side of the ball. We look at three names to watch.

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Jan 30 • 3:01 AM EST • Sports • commanderswire.usatoday.com
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How liberals lost the internet

In the first part of our series on digital politics, we look at how centrists have lost ground fighting disinformation – when the real battle is over emotion and attention, says digital media academic Robert Topinka

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Jan 30 • 3:00 AM EST • Politics • theguardian.com
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Starmer arrives in Shanghai as he looks to boost UK business opportunities

BEIJING (AP) — British Prime Minister Keir Starmer arrived in the Chinese financial center of Shanghai on Friday in his bid to boost business opportunities for U.K. firms in the world's second-largest economy, just hours after U.S. President Donald Trump signaled a possible opposition to any deal...

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Jan 30 • 2:58 AM EST • Business • wral.com
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Starmer arrives in Shanghai as he looks to boost UK business opportunities

BEIJING (AP) — British Prime Minister Keir Starmer arrived in the Chinese financial center of Shanghai on Friday in his bid to boost business opportunities for U.K. firms in the world’s secon…

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Jan 30 • 2:55 AM EST • Business • thehill.com
Starmer arrives in Shanghai as he looks to boost UK business opportunities

British Prime Minister Keir Starmer has arrived in the Chinese financial center of Shanghai in his bid to boost business opportunities for U.K. firms in the world’s second-largest economy, just hours after President Donald Trump signaled a possible opp...

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Jan 30 • 2:54 AM EST • Business • abcnews.go.com
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Cooper Flagg posts 49 points, unprecedented for a teenager, in reunion with Kon Knueppel

The Mavericks rookie keeps looking more and more special, but it was the Hornets who took the win.

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Jan 29 • 11:31 PM EST • Sports • sports.yahoo.com
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Trump reportedly says 'very dangerous' for UK to do business with China as Starmer looks to mend ties

Starmer is on a 4-day visit to China this week, the first trip by a British leader in eight years, signaling an attempt at resetting the bilateral ties.

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Jan 29 • 8:58 PM EST • Business • cnbc.com
Council Speaker looks to savings, not taxes, for budget

Mayor Mamdani says the city faces a $12 billion budget gap.

ny1.com logo
Jan 29 • 8:10 PM EST • Politics • ny1.com
UK business confidence weakens as doubts grow over wider economy

British business confidence has weakened this month after executives' view of the global economic outlook declined to its darkest in a year, a survey by Lloyds showed on Friday.

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Jan 29 • 7:02 PM EST • Business • reuters.com
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.

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Jan 29 • 7:00 PM EST • Health • michigan.gov
DC Wrap: Tentative deal struck to avoid shutdown; Trump touts past year

A look at the day's biggest stories in national politics

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Jan 29 • 6:25 PM EST • Politics • spectrumlocalnews.com
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Arts and Entertainment Agenda: Jan. 30-Feb. 5

DanceAspen’s ‘Re:imagine — A Sneak Peek with Emilie Leriche,’ Jan. 30 A free, exclusive preview and behind-the-scenes look at DanceAspen’s upcoming production, “Re:imagine — A Sneak Peek with Emilie Leriche,” will be presented from 5:30-6:30...

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Jan 29 • 6:00 PM EST • Entertainment • aspentimes.com
Sam Raimi shares 'Doctor Strange 2' scene that made him want to work with Rachel McAdams again

Without 'Doctor Strange in the Multiverse of Madness,' 'Send Help' would've looked a lot different. Director Sam Raimi and star Rachel McAdams explained how Marvel was their stepping stone to the survival horror movie.

ew.com logo
Jan 29 • 5:53 PM EST • Entertainment • ew.com
Talarico says Crockett told him she was “looking at running in 2030” before entering 2026 Senate race

James Talarico said Congresswoman Jasmine Crockett had told him she was “focused on her work in the Congress and was looking at running in 2030” when asked if she had planned to run in the upcoming Senate primary.

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Jan 29 • 5:28 PM EST • Politics • houstonpublicmedia.org
Apple Drops $2 Billion on Israeli AI Facial Tracking Company

Tim Cook is having a week.

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Jan 29 • 4:20 PM EST • Technology • gizmodo.com
First images from Sam Mendes’ Beatles films revealed at Liverpool school

It looks like some folks in Liverpool have gotten their first look at images from Sam Mendes’ upcoming films abut The Beatles.

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Jan 29 • 3:30 PM EST • Entertainment • yahoo.com
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.

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Jan 29 • 1:13 PM EST • Business • cnbc.com
Best of gameday entertainment from 2025

Take a look back at the best shots of gameday entertainment from the 2025 season at Allegiant Stadium.

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Jan 29 • 1:03 PM EST • Entertainment • raiders.com
Politics and Film: ‘Look Who's Back,’ Feb. 4

Politics and Film will present a screening of the German dark comedy "Look Who's Back" (2015), on Wednesday, Feb. 4, at 5 p.m. in Wehr Life Sciences 100.

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Jan 29 • 11:54 AM EST • Politics • today.marquette.edu
More naming opportunities planned for Altru Sports Complex; first part of Phase 2 expected to bid in April

The Grand Forks Park District is looking at options for other naming rights in the facility to help fundraise for the project.

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Jan 29 • 8:01 AM EST • Sports • grandforksherald.com
Escape from Washington? Senators look to start new chapters as governors

U.S. senators are increasingly looking to leave Washington for leadership roles in their home states

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Jan 29 • 7:41 AM EST • Politics • washingtonpost.com
Escape from Washington? Senators look to start new chapters as governors

U.S. senators are increasingly looking to leave Washington for leadership roles in their home states.

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Jan 29 • 7:40 AM EST • Politics • click2houston.com
I have 5 major concerns about Google's Android desktop OS

A leaked screen recording showed off what Google's Android desktop OS (Aluminium OS) will look like, and it's very concerning for any Chrome OS user.

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Jan 29 • 7:31 AM EST • Technology • androidauthority.com
Memphis People in Business for Jan. 29, 2026

A look at promotions, hirings, movers and newsmakers in the Memphis area business scene.

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Jan 29 • 7:00 AM EST • Business • commercialappeal.com
Where Eagles' pending free agents rank on NFL-wide lists

The Eagles have some big-name free agents this year. Here’s a look at where they rank among the entire NFL.

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Jan 29 • 7:00 AM EST • Sports • nbcsportsphiladelphia.com
The Jeff Boals Show Returns Tonight at The Gem Sports Bar

ATHENS, Ohio — The Jeff Boals Show returns this Thursday, January 29, on the Ohio Sports Network from Learfield, presented by Holzer Health System. This week, the live broadcast will take place from 6pm-7pm at The Gem Sports Bar. The event is open to the public and free to attend. Join the "Voice of Bobcat Basketball," Jason Toy, and the seventh year head coach of the Ohio Bobcats, Jeff Boals, for a weekly recap and a look ahead at upcoming matchups. This week's special guests include sophomore forward Ayden Evans (Radcliff, Ky.) and freshman forward Jordan Fisher (Pickerington, Ohio)

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Jan 29 • 6:28 AM EST • Sports • ohiobobcats.com
Are These Unprecedented Times for Science, Really?

A science historian looks to the past to understand our current moment, and how ghostwriting in scientific papers is harming public trust.

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Jan 29 • 6:00 AM EST • Science • sciencefriday.com
KFF Health Tracking Poll: Health Care Costs, Expiring ACA Tax Credits, and the 2026 Midterms

Looking ahead to the midterm elections, health care costs are the public’s top economic concern, and many voters say the issue will have a major impact on their vote. On health care issues, including the cost of health care, voters currently trust Democrats more than Republicans, though neither party has an advantage on addressing the overall cost of living. Following the expiration of the ACA enhanced tax credits, two-thirds of the public say Congress did the “wrong thing” by not extending them.

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Jan 29 • 5:00 AM EST • Health • kff.org
NJ's employment, economic numbers look bad. Can Sherrill fix that?

Mikie Sherrill has taken office as governor as New Jersey faces economic hurdles. The state’s gross domestic product lags behind much of the nation.

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Jan 29 • 4:31 AM EST • Business • northjersey.com
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China, U.K. vow to build long-term strategic partnership in bid to reset strained ties

U.K. Prime Minister Sir Keir Starmer said he hopes to build "more sophisticated" ties with China as the two nations look to revive the bilateral relationships.

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Jan 29 • 1:05 AM EST • Business • cnbc.com
The Herald's weekly entertainment picks

Looking to be entertained from Thursday, Jan. 29, through Wednesday, Feb. 4? Check out the Skagit Valley Herald’s weekly recommendations.

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Jan 28 • 11:30 PM EST • Entertainment • goskagit.com
Galaxy S26 phones look sleek in new official-looking photos

A case listing reveals the official design of the Galaxy S26, S26+, and S26 Ultra.

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Jan 28 • 8:23 PM EST • Technology • phonearena.com
Rise to the Occasion with Mega Evolution—Ascended Heroes in Pokémon TCG Live

Look forward to newly discovered Mega Evolution Pokémon, beautiful new artwork for fan-favorite cards, and more.

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Jan 28 • 7:00 PM EST • Technology • pokemon.com
Tiny mammals are sending warning signs scientists can finally read

Small mammals are early warning systems for environmental damage, but many species look almost identical, making them hard to track. Scientists have developed a new footprint-based method that can tell apart nearly indistinguishable species with remarkable accuracy. Tested on two types of sengi, the system correctly identified them up to 96% of the time. It offers a simple, ethical way to monitor ecosystems before they quietly unravel.

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Jan 28 • 7:00 PM EST • Science • sciencedaily.com
Music notes: Taylor Swift, Ellie Goulding and more

The video for Taylor Swift's "Wildest Dreams" — the fifth single from her album 1989 — has become her latest to rack up 1 billion views on YouTube. It's her sixth video to hit that milestone, following “Blank Space,” “Shake It Off,” “You Belong With Me,” “Bad Blood” and “Look What You Made Me Do.”

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Jan 28 • 5:30 PM EST • Entertainment • yahoo.com
Virginia Tech visits coveted in-state LB Noah Glover

It’s a new era for Virginia Tech football and new head coach James Franklin is looking to make an impact on the recruiting trail for the Hokies. Virginia itself has been on the rise when it comes to producing blue-chip talent at the high school level. The 2026 cycle had multiple top-100 prospects in the […]

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Jan 28 • 4:58 PM EST • Sports • on3.com
Meta Says Revenue to Beat Estimates, Supporting AI Spending

Meta Platforms Inc.’s better-than-expected sales outlook helped ease Wall Street concerns about plans for unprecedented spending on artificial intelligence this year.

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Jan 28 • 4:07 PM EST • Business • bloomberg.com
2026 Fantasy Football Dynasty Rookie QB Outlook
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Jan 28 • 2:32 PM EST • Sports • sports.yahoo.com
Henry Cavill suits up for eternal battle in first look at long-gestating 'Highlander' reboot

After a long wait, Henry Cavill shares the first look at his turn as Connor MacLeod in Chad Stahelski's upcoming 'Highlander' reboot: 'This has been quite the journey for me.'

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Jan 28 • 2:10 PM EST • Entertainment • ew.com
Some of ‘Star Search’s’ biggest losers became megastars. Can the revival live up to its past?

Aaliyah, Britney and Beyoncé famously lost when they appeared on “Star Search” back in the day. Those who bested them look back as a new reboot takes off.

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Jan 28 • 1:24 PM EST • Entertainment • cnn.com
Why buying a phone in 2026 is actually a no-brainer

It's time to look to the past

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Jan 28 • 12:15 PM EST • Technology • androidpolice.com
Laredo Chamber sets 2026 vision to strengthen business

With a vision of strengthening the Laredo business community at all levels as the nation's largest port, Monica Y. Martinez of the Laredo Chamber of Commerce is looking ahead to 2026.

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Jan 28 • 12:13 PM EST • Business • lmtonline.com
Footy Fix: Catch Champions League action only on Paramount+

All eyes will be on Napoli where Chelsea chase top 8 and the hosts look to sneak into the top 24

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Jan 28 • 12:02 PM EST • Sports • cbssports.com
Sergi López on 'Sirāt': A journey that makes you look inward

The movie “Sirāt” follows Luis as he treks through the North African desert with his son and dog to find his missing daughter.

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Jan 28 • 10:38 AM EST • Entertainment • click2houston.com
Meet The Imperial Business School MBA Class Of 2026

An in-depth look into the personal and professional lives of 12 students from this year’s Imperial College Business School Class of 2026.

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Jan 28 • 10:02 AM EST • Business • poetsandquants.com
Samsung teases new privacy feature to hide your Galaxy phone screen from onlookers

Samsung said that the upcoming feature will let you protect selected parts of the screen like notification popup area.

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Jan 28 • 9:44 AM EST • Technology • techcrunch.com
The Entertainment District Focus Group examining long term future of Berglund Center complex

Its called the Entertainment District Focus Group, a mostly citizen group asked to weigh in on a possible casino at the Berglund Center - just for starters. The Entertainment District Focus Group is centered around the Berglund Center Complex, as the city looks to generate more revenue. Is there sup

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Jan 28 • 9:34 AM EST • Entertainment • wfirnews.com
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As college sports look more professional, sponsors turn to high school

High school sports, some marketers are finding, can provide brands with national reach and inroads with potential future star athletes.

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Jan 28 • 9:27 AM EST • Sports • marketingbrew.com
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Our first look at Google's Android for PC interface leaks in a bug report

We may have our first look at Android for desktop.

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Jan 28 • 8:30 AM EST • Technology • engadget.com
18 free agents with connections to Lions coach Mike Kafka

Taking a look at the 2026 NFL free agents who have connections to Detroit Lions coach Mike Kafka.

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Jan 28 • 8:00 AM EST • Sports • prideofdetroit.com
On Data Privacy Day (and every day): Protect your small business

Cybercriminals target companies big and small. Today is Data Privacy Day — a great opportunity to take a look at how you keep your business and customer data protected. Get started with the FTC’s updated resources at ftc.gov/cybersecurity.

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Jan 28 • 7:51 AM EST • Business • consumer.ftc.gov
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

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Jan 28 • 7:29 AM EST • Business • finance.yahoo.com
This week in Santa Cruz County business: Scotts Valley solar cell company goes dark; passing the torch at Alta Organic Coffee

In her weekly look at Santa Cruz County business, Jessica M. Pasko reports on the demise of Ambient Photonics, notes a generational shift at a local coffee roaster and delivers names, numbers and events to know.

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Jan 28 • 7:00 AM EST • Business • lookout.co
Leaker makes unlikely claim about improved iPhone 18 telephoto lens

A leaker better known for posting about Android smartphones has made a claim potentially pointing to improved telephoto performance in...

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Jan 28 • 6:56 AM EST • Technology • 9to5mac.com
Exclusive: First look at Samsung’s 25W wireless charger, possibly for Galaxy S26

The Galaxy S26 Ultra supports up to 25W fast wireless charging, and we have the first images of its 25W wireless charger.

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Jan 28 • 6:12 AM EST • Technology • sammobile.com
Investment and Statecraft: The International Politics of Sovereign Wealth Funds - Georgetown Journal of International Affairs

In 1953, Kuwait established the world’s first sovereign wealth fund to invest the country’s oil revenues and generate returns that would reduce its reliance on a single resource. Since then, over 100 separate funds have been created to preserve national wealth and ensure long-term fiscal sustainability. Today, they manage over $10 trillion in global assets. In this discussion with GJIA, political economist Kathryn Lavelle explains the increasingly novel dynamics that surround fund behavior and what the world can come to expect from their growing presence in international financial markets. GJIA: When it comes to the roles sovereign wealth funds (SWFs) play in global markets and politics, what would you say makes them unique? Kathryn Lavelle: Sovereign wealth funds (SWFs) operate on behalf of governments as investors. That in itself is a strange relationship. Within them, a core contest takes place between the state’s interests (or sovereign) part of the dynamic, and the money interests (or wealth) part of it, and these two aspects are frequently in contradiction, serving fundamentally different goals. SWFs are also quite fascinating because when you talk to the people who manage these funds, they have an interest in convincing you that the decisions are made almost exclusively on a financial basis—they really will go to great lengths to differentiate their government owners and those who make the management decisions. At the same time, these people ultimately answer to someone in power. Therefore, for most SWFs, it remains deeply unclear who is actually making the investment decisions and for what purposes. Of course, it is not always clear how other vehicles, such as hedge funds and private equity make the decisions they do, but I think what a lot of people find particularly disconcerting about SWFs is that they seem to act on behalf of people who have a different identity from their own. People who could be trying to manipulate politics and markets in a way that would have a long-term effect on their own populations. Regular investors come and go at will, and they only share an interest in profit as far as most of us understand. However, SWFs have that extra “sovereign” part right behind them that obscures their true interest. GJIA: These funds can be found in countries all across the globe, in both authoritarian states and democracies. Would you say SWFs differ in their goals and structures between regime-type? KL: It is not necessarily regime type that makes the goals and structures of SWFs different. It has to do with their economies. Let’s look at a country like China. There’s going to be a debate about exactly how to characterize the regime, but it is a country with many different kinds of sovereign wealth funds, and a particularly opaque state connection to each. At one time, some of the state-owned Chinese oil companies created specialized investment vehicles listed outside Chinese markets that excluded parts of the firms that were more associated with human rights violations. At the same time, the China Investment Corporation (CIC)­—China’s largest SWF—draws a lot of concern, not necessarily because of its investment activities, but because of the dynamics of global politics. So, I wouldn’t really tie differences to regime types themselves in a wholesale way, but rather to how such funds are perceived and how they are structured. Saudi Arabia’s SWF is getting all kinds of attention for its involvement in Hollywood, and this takes me right back to when I was a student in the 1980s, when people were concerned about Japanese investment entities buying assets in Hollywood. They aren’t quite the same in financial terms, but it’s the same kind of concern about foreign investment that drives people to be suspicious, and the whole idea that “foreigners are influencing Hollywood.” This holds true across industries, and it reflects where politics are in places like the United States right now. One metric we can try to look at is transparency, where all the funds will tell you, “we are transparent.” The problem you’ll keep running into with this approach is how you value things. When trying to do comparative studies of equity markets, you’ll find that every country doesn’t use Generally Accepted Accounting Principles like we do in the United States. A fund may appear opaque politically and not want people to show what they’re invested in or what their intent with that investment is, but they could also just not be able to report it because of the way it was purchased, or the kinds of shares they purchased. There are some assets out there that really are difficult to put a monetary value on. GJIA: To what extent do domestic politics shape SWF behavior in both the investing “home” country and the recipient “host” country? KL: This depends on the type of fund present and also on the extent to which voters’ political views are able to influence the fund. For example, in a democratic home state like Norway, the SWF doesn’t invest in nuclear weapons or tobacco because of social concerns, but there is a continuing debate over whether it should invest in oil, even though that’s where most of the money comes from. The degree to which Norway will continue to make those investments, and whether they contradict the government’s overall climate goals, is an open question in Norwegian politics. Because of the way the fund’s governance is structured, it may not be easy to resolve. On the other hand, some people consider pension funds, like the State Teachers Retirement System (STRS) in Ohio, to be quasi-SWF. They have a very strict separation between the people who make up the management division and the fund owners. No teacher or professor would want to invest in things that may harm the future of their students. At the same time, a fund manager might see an opportunity in a diversified multinational corporation that offers a good return, despite it deriving part of its revenue from e-cigarettes. These contests are very apparent. Domestic politics can work in host countries too. A good example is Singapore’s SWF, Temasek, investing in Thailand’s telecommunications sector. If you study political economy, you already know that countries everywhere are uncomfortable with foreign ownership of their telecom sectors because a foreign entity could monitor or manipulate our communications with each other. In the case of Temasek, there was significant pushback from Thai citizens surrounding the deal, which went on to influence national political sentiment toward Singapore as a whole, underscoring the risks some SWFs may face with their investment choices. In this case, fund behavior led to the dissolution of the entire Thai government in 2006 and a subsequent coup d’état. GJIA: To address some of this unease, the Santiago Principles were established in 2009 to ostensibly promote trust and transparency. From your perspective, have these mechanisms actually changed fund behavior? KL: In international relations theory, we always like to have a clear set of norms and best practices­—the orientation we want the proverbial ship to be going in. In that regard, the Santiago Principles at least got the discussion going about which direction SWFs should take at a time when people were very skittish about the growing size of these funds. Nobody wanted them to be out there and potentially destabilizing economies, so talks about disclosure, conditions for withdrawal, and the independence of managers were helpful when initiated. The biggest stumbling block was that there wasn’t exactly a good way to measure compliance with the Principles, let alone how to hold funds to them. If you read the Principles, they’re overall quite vague. In general, a fund doesn’t want to reveal how and why they make certain investment decisions because that information is proprietary—a fund makes money off of how and why it makes decisions—so how do you reconcile that with loosely-defined ideas of openness? Some decisions might have a political purpose. The bottom line is that trying to figure out and assign a score to compliance is not easy, and it is therefore the reason why the Santiago Principles never really got off the ground to the point where they could truly direct fund behavior. GJIA: Many emerging markets are looking to build their own SWFs from mineral and oil revenues. Historically, have funds shaped development trajectories in these countries? KL: I think the big story in international emerging markets investment is that the investment is increasingly no longer unidirectional. In the past multinational corporations of primarily Western background were the main form of foreign direct investment in a country. That has changed dramatically, to the point where you have companies from so-called “developing countries” taking over companies in the United States. Therefore, the landscape of international investment has changed, and I think SWFs are certainly a possibility to be the next step in the game. Historically, you didn’t need an entire financial vehicle to reinvest commodity revenues in your country, but as emerging markets get more financially sophisticated, their capacity to operate such funds has increased. SWFs would allow treasuries to move from relying on holding foreign exchange assets like cash or government bonds to having broader financial markets and targeted growth areas, while easing pressure on welfare expenditures. GJIA: With their increasing financial weight, do you see the presence of SWFs being a factor in the political choices leaders will have to make with regard to domestic and foreign policy? KL: It will depend on just how big the funds get. One of the reasons people are already apprehensive is because of their scale, and if certain SWFs in certain countries achieve a large-enough size, the presence will absolutely be cause for concern. The other factor political leaders will have to consider are their objectives. It’s not always clear how to define a SWF, or even where its activity is concentrated, but it is certainly a worry from the perspective of national security of opaque external investment. More than that, I think one of the most interesting questions going forward is whether the United States, the home to the world’s largest financial markets, will develop its own fund, for which the Trump administration announced a plan. There have also been several proposals in Congress. Were it to come into being, it would have tremendous weight. At the same time, one of the hallmarks of U.S. capitalism is a lack of government ownership of shares, so it would not be clear how such a fund would be received in domestic politics, or which direction it would take. Given how politically fragmented the country is, a Democratic administration would likely be concerned about different sectors of the economy, such as healthcare, and want investment there, rather than a Republican administration, which might prefer defense industries. No investment vehicle could thrive under conditions of such instability. Moreover, it remains unclear where the money to fund a theoretical U.S. SWF would come from. It would be a fundamentally different entity depending on whether it is financed with debt, economic surplus, commodities, or the sale of state companies, as in the case of Singapore. If it is debt, or government borrowing of some form, then the fund would have to outperform whatever the cost of that debt is, which is not an easy thing to do. I think our political leaders have enough on their plate. Our system has worked well keeping political and investment functions generally separate. We have seen different forms of business rise and fall, and even the perception of different countries, all of which funds are tied to. Unless a major SWF either starts—like in the case of the United States—or collapses—an issue that concerns the Saudis, I don’t see any political tsunamis on the horizon. . . . Kathryn Lavelle is the Ellen and Dixon Long Professor of World Affairs at Case Western Reserve University in Cleveland, Ohio. Her research explores the exchange between domestic and international and political institutions with a particular emphasis on political economy and multilateralism. Dr. Lavelle’s first book, The Politics of Equity Finance in Emerging Markets, explored the political circumstances that surround large issues of stock in the developing world. After being granted tenure at Case Western, she was awarded an American Political Science Association Congressional Fellowship and named the William A. Steiger fellow, a designation given to the most promising political scientist in her class of fellows. While in Washington during 2006-2007, she worked on the staff of the House Committee on Financial Services on issues related to domestic and international monetary policy. Dr. Lavelle holds a PhD in political science from Northwestern University; an M.A. in government and foreign affairs from the University of Virginia; and a bachelor’s degree in international economics from Georgetown University. She is a permanent member of the New York Council on Foreign Relations. This transcript has been lightly edited for clarity and length. Interview conducted by Sid Mehrotra. Image Credit: Jason Leung, Unsplash Content Licenses, via Unsplash

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Jan 28 • 6:00 AM EST • Politics • gjia.georgetown.edu
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