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BIZBEAT: Entertainment-themed Airbnb opens doors in Jefferson City

A new gaming and entertainment haven is now open for business in Jefferson City, and visitors even have the option to stay the night.

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Feb 1 • 5:00 AM EST • Entertainment • newstribune.com
Can Pakistan Contain the Violent Politics of Blasphemy?

The government’s ban on Tehreek-e-Labbaik reduced blasphemy violence but will take work to maintain.

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Feb 1 • 4:00 AM EST • Politics • lawfaremedia.org
Democrat Taylor Rehmet flips a Texas state Senate seat Trump won by 17 points, CNN projects

Democrats notched another victory Saturday in special elections during President Donald Trump’s second term, flipping a seat in the Texas Senate that Trump won by 17 points in 2024.

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Feb 1 • 12:09 AM EST • Politics • cnn.com
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Woad eight shots off lead after play suspended in Orlando

Lottie Woad falls eight shots behind the lead at the Tournament of Champions after blustery conditions in Orlando lead okay to be suspended.

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Jan 31 • 7:35 PM EST • Sports • bbc.com
Gov. shutdown, ICE warehouses and 3 millon Epstein files

Carmella gives the top headlines of the day, including a judge ordering the release of a 5-year-old detained by ICE.

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Jan 31 • 7:00 PM EST • Politics • washingtonpost.com
Digging Deeper Into Liverpool’s 4-1 Victory Over Newcastle

Liverpool notch 4 impressive goals and, for the moment, are in a good spot of form after a comprehensive win.

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Jan 31 • 6:06 PM EST • Sports • liverpooloffside.sbnation.com
Whitlock leads Lehigh to 77-76 OT victory against Colgate

BETHLEHEM, Pa. (AP) Nasir Whitlock scored 32 points to lead Lehigh, including the game-winning jump shot with about a second remaining in overtime, and the Mountain Hawks knocked off Colgate 77-76 on Saturday.

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Jan 31 • 5:02 PM EST • Sports • cbssports.com
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Bengals free agent’s news fuels speculation about return

Fans noticed some interesting news about a Bengals free agent.

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Jan 31 • 4:14 PM EST • Sports • bengalswire.usatoday.com
Hackett has 22, Stonehill defeats Le Moyne 65-54

SYRACUSE, N.Y. (AP) Davante Hackett's 22 points helped Stonehill defeat Le Moyne 65-54 on Saturday.

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Jan 31 • 3:31 PM EST • Sports • cbssports.com
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Two motorcycles stolen after vehicle driven into Palmer Park Boulevard business

Police say the break-in happened around 9:15 p.m. at a business on Palmer Park Boulevard

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Jan 31 • 1:28 PM EST • Business • kktv.com
ENTERTAINMENT: Singer pays tribute to ‘Divas’; conductor comes ‘home’

Singer CeCe Teneal takes audiences on a musical journey through 50 years of chart-topping hits, “from the powerhouse anthems of Aretha Franklin and Tina Turner to the disco grooves of Donna Summer and the pop perfection of Whitney Houston,” in “Divas of Soul,” 7:30 p.m. Tuesday at the Center for Humanities and Arts Theatre, University of Arkansas-Pulaski Technical College.

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Jan 31 • 1:00 PM EST • Entertainment • arkansasonline.com
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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
The people’s choice against West Ham: Almost unchanged

Chelsea vs. West Ham, Premier League: Preferred lineup

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Jan 31 • 9:14 AM EST • Sports • weaintgotnohistory.sbnation.com
Trump’s polls are tanking. What does his base think?

A MAGA diehard on ICE in Minneapolis, the Epstein files, and what Trump must do before the midterms.

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Jan 31 • 8:00 AM EST • Politics • vox.com
One game idea per day: the true story behind Highguard's 'wild' four-year development

Wildlight Entertainment reveals how it built its debut, one pitch at a time

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Jan 31 • 7:00 AM EST • Entertainment • polygon.com
Scientists finally explain statin muscle pain

Statins are a cornerstone of heart health, but muscle pain and weakness cause many patients to quit taking them. Scientists have now identified the precise molecular trigger behind these side effects. They found that statins jam open a critical muscle protein, causing a toxic calcium leak. The discovery could lead to safer statins that keep their life-saving benefits without the muscle damage.

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Jan 31 • 7:00 AM EST • Science • sciencedaily.com
Electric fields flip the rules of water chemistry

nside electrochemical devices, strong electric fields dramatically alter how water molecules behave. New research shows that these fields speed up water dissociation not by lowering energy costs, but by increasing molecular disorder once ions form. The reaction becomes entropy-driven—exactly the opposite of what happens in ordinary water. The findings also reveal that intense fields can push water from neutral to highly acidic, with major implications for hydrogen production.

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Jan 31 • 7:00 AM EST • Science • sciencedaily.com
'We have weaknesses': How covering sports is like raising kid athletes

Top athletes, like our kids, are more human being than prodigy. Sometimes parents, and their kids who play sports, just need to calm down.

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Jan 31 • 6:32 AM EST • Sports • usatoday.com
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30% More Efficient? The Math Behind Aero vs. Steel

The data is clear: Aerodynamics provided a massive efficiency gain, allowing me to match a significantly stronger rider on the flats. Here is the math, plus the latest on the Vingegaard fan crash.

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Jan 31 • 5:30 AM EST • Technology • velo.outsideonline.com
Magic use big 4th quarter to flip script vs. Raptors

ORLANDO, Fla. — When the Magic lost to the Raptors by one point on the road on Dec. 29, Orlando squandered a 21-point first-half lead at Toronto. On Friday night inside Kia Center, it was Toronto that gave up a 14-point lead on the road playing in front of a national TV audience on ESPN. During a contest that featured 12 lead changes, coach Jamahl Mosley‘s squad fought back-and-forth with the ...

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Jan 30 • 10:39 PM EST • Sports • orlandosentinel.com
The Science Behind a Great Guacamole

Guacamole is a game-day favorite, but what does it take to perfect it? Researchers at UC Riverside are peeling back the science of what makes a great avocado and how to turn it into a winning bowl of guacamole.

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Jan 30 • 9:35 PM EST • Science • news.ucr.edu
Anchorage School District proposes major cuts to positions, programs, sports and more

In a letter to families, Anchorage Superintendent Jharrett Bryantt said maintaining the status quo is no longer sustainable given current state and local funding levels.

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Jan 30 • 9:21 PM EST • Sports • adn.com
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Lots of business expected for Snowfest over the weekend

This year, there has been plenty of snow and cold for Zehnder’s Snowfest sculptors and fans.

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Jan 30 • 8:12 PM EST • Business • wnem.com
Venezuela announces amnesty bill that could lead to mass release of political prisoners

CARACAS, Venezuela (AP) — Venezuela’s acting President Delcy Rodríguez on Friday announced an amnesty bill that could lead to the release of hundreds of prisoners, including opposition leaders, jou…

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Jan 30 • 7:40 PM EST • Politics • thehill.com
Why doing household chores may be better for your health than you think

Those tedious household chores might be doing more than just keeping your home clean; they could be improving your health, according to medical experts.

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Jan 30 • 7:06 PM EST • Health • clickondetroit.com
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Health care costs top concern in new poll

Americans are more worried about affording health care than any other household necessity, according to a Kaiser Family Foundation poll published Thursday. The poll, conducted with 1,426 adul…

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Jan 30 • 6:00 PM EST • Health • thehill.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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Body found behind northwest suburban business, police say

A death investigation was underway in northwest suburban Bartlett after a person was found dead outside a business on Friday, authorities said.

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Jan 30 • 5:32 PM EST • Business • nbcchicago.com
New guidance aims to guide UTI treatment in age of virtual health care

The guidelines will help clinicians determine whether patients seeking care via telehealth and virtual visits need urine tests or empiric antibiotics.

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Jan 30 • 4:11 PM EST • Health • cidrap.umn.edu
Body found behind business in Bartlett, Illinois
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Jan 30 • 3:00 PM EST • Business • cbsnews.com
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Amendment 42: Several Changes to F.10 PRISM

F.10 Payloads and Research Investigations on the Surface of the Moon (PRISM) solicits development and flight of a science-driven suite of instruments and

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Jan 30 • 2:33 PM EST • Science • science.nasa.gov
Black History Month at Hofstra Showcases Art, Politics, Culture, and Business

Black History Month, and every month, is an opportunity to educate, listen, and lift one another. Hofstra University offers a comprehensive selection of events, covering the arts, politics, history, and culture. Our Unfinished Revolution(s)Hofstra University Museum of ArtOpening reception, Th

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Jan 30 • 12:51 PM EST • Politics • news.hofstra.edu
'View' star Sara Haines breaks down in tears over covering grim news: 'Why get out of bed?'

'The View' cohost Sara Haines broke down in tears over covering grim news on the talk show, admitting she doesn't 'really have a safe space' amid headlines: 'Why get out of bed?'

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Jan 30 • 12:38 PM EST • Entertainment • ew.com
Dozens of Businesses Close, Show Support for National ICE General Strike

Other restaurants and retailers remained open but shared messages of solidarity and plan to donate proceeds.

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Jan 30 • 12:05 PM EST • Business • clevelandmagazine.com
Watch live: Whole Hog Politics with Chris Stirewalt and Bill Sammon

The Hill’s senior vice president of editorial content, Bill Sammon, joins NewsNation’s Chris Stirewalt to discuss the latest political hot topics and national news in “Whole Hog…

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Jan 30 • 8:45 AM EST • Politics • thehill.com
Google releases Project Genie AI tool for creating "playable worlds" that can feature copyrighted IP

But legal expert Pete Lewin from Wiggin argues that the companies behind this kind of tech can expect to face "greater scrutiny and pushback from IP owners"

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Jan 30 • 8:15 AM EST • Technology • gamesindustry.biz
Don Lemon taken into custody

Journalist Don Lemon was taken into custody on Thursday night, according to his attorney.

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Jan 30 • 8:09 AM EST • Politics • cnn.com
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The latest Lehigh Valley business openings and closings

Here are January’s business openings and closures in the Lehigh Valley.

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Jan 30 • 8:00 AM EST • Business • mcall.com
Groundhog Day: Light on science, heavy on fun

If ever central Pennsylvania desired an early spring, it might be this year. Learn about the history and science behind Groundhog Day.

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Jan 30 • 8:00 AM EST • Science • susqu.edu
Whole Hog Politics: Georgia always on Trump’s mind

[Watch Whole Hog Politics live: Join us today at 9 a.m. ET at TheHill.com as Chris Stirewalt and host Bill Sammon break down this week’s political news and answer questions from a live online audie…

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Jan 30 • 8:00 AM EST • Politics • thehill.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
Gray wolves are hunting sea otters and no one knows how

On a remote Alaskan island, gray wolves are rewriting the rulebook by hunting sea otters — a behavior few scientists ever expected to see. Researchers are now uncovering how these coastal wolves adapted to marine hunting, what it means for land–sea ecosystems, and whether this ancient predator–prey relationship is re-emerging as sea otters recover.

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Jan 30 • 7:00 AM EST • Science • sciencedaily.com
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
Super Bowl LX Betting Report: 'The Public Isn’t Buying the Patriots'

It's still early, but so far, the public is throwing its support behind the Seahawks in droves. Patrick Everson has the report.

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Jan 29 • 7:46 PM EST • Sports • foxsports.com
Communities unite to address stigma and discrimination affecting people with neglected tropical diseases

Marking World Neglected Tropical Diseases (NTDs) Day, the World Health Organization (WHO) warns that millions of people living with NTDs continue to face profound and often unseen suffering due to discrimination, social stigma and untreated mental health conditions. Under the rallying theme "Unite. Act. Eliminate.", WHO and partners urge governments to integrate mental health care into NTD elimination efforts, ensuring that no one is left behind in pain or isolation.

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Jan 29 • 7:00 PM EST • Health • who.int
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
Robert Saleh wants to 'bring a championship home' to Nashville

New Titans coach Robert Saleh thanks Titans brass, players and his family in his introductory press conference on Jan. 29.

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Jan 29 • 5:27 PM EST • Sports • tennessean.com
Several Bellingham businesses will close Jan. 30 for nationwide ICE protest

“It’s time to speak up in the best way to make our government listen: the money in their pockets.”

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Jan 29 • 5:13 PM EST • Business • bellinghamherald.com
Takeaways from Titans head coach Robert Saleh press conference

The Titans new coach met the Nashville media for the first time today.

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Jan 29 • 3:44 PM EST • Sports • musiccitymiracles.com
Monkey Business: Using Genetics to Understanding Decision-Making in Monkeys

Abigail Morris first visited the Peruvian Amazon when she was 6 years old. Now, as a Ph.D. candidate in the Animal Behavior Graduate Group, she has returned to study how seasonal flooding affects the behavior, diet and population genetics of two species of monkey: monk sakis (Pithecia monachus) and large-headed capuchins (Sapajus apella macrocephalus).

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Jan 29 • 12:00 PM EST • Business • biology.ucdavis.edu
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
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.

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Jan 29 • 10:24 AM EST • Science • forbes.com
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AHA Committee on Behavioral Health names 2026 officers, new members

The AHA’s Committee on Behavioral Health today announced its officers and new members for 2026.

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Jan 29 • 10:23 AM EST • Health • aha.org
Lehigh Sports Central: Men's Basketball

On the latest edition of Lehigh Sports Central, hear from men's basketball head coach Brett Reed and sophomore Hank Alvey as they preview this Saturday's mat...

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Jan 29 • 10:00 AM EST • Sports • lehighsports.com
Will Republicans break their losing streak on health care reform?

Republicans have repeatedly failed to successfully field an alternative to ObamaCare, but their new “Great Healthcare Plan” released in January offers some promising ideas, such as pric…

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Jan 29 • 10:00 AM EST • Health • thehill.com
AppLovin's ad tech business could steal Amazon's lunch

Wall Street remains wary of the black box behind AppLovin's AI, but early data suggest its e-commerce pivot is already eating into Amazon's territory.

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Jan 29 • 8:00 AM EST • Business • finance.yahoo.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
Marsh's fourth-quarter profit rises on strength in insurance business

Insurance broker Marsh reported a rise in fourth-quarter profit on Thursday, helped by robust performance in its risk and insurance services business.

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Jan 29 • 7:16 AM EST • Business • reuters.com
Comcast sheds more broadband customers as wireless competition mounts

Comcast lost more broadband customers than expected in the fourth quarter, as rivals lured away consumers with aggressive offers, piling pressure on the company's mainstay business.

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Jan 29 • 7:07 AM EST • Business • reuters.com
Scientists use AI to crack the code of nature’s most complex patterns 1,000x faster

Order doesn’t always form perfectly—and those imperfections can be surprisingly powerful. In materials like liquid crystals, tiny “defects” emerge when symmetry breaks, shaping everything from cosmic structures to everyday technologies. Now, researchers have developed an AI-powered method that can predict how these defects will form and evolve in milliseconds instead of hours. By learning directly from data, the system accurately maps molecular alignments and complex defect behavior, even in situations where defects merge or split.

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Jan 29 • 7:00 AM EST • Science • sciencedaily.com
UNC Health Pardee Open House Hiring Event on Wednesday, Feb. 4

UNC Health Pardee Open House Hiring Event on Wednesday, Feb. 4

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Jan 29 • 7:00 AM EST • Health • pardeehospital.org
The Joy Rematch: How can sports win over non-fans?

How can sports leagues attract non-fans? Download The Joy Rematch to see how leagues can secure this untapped market.

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Jan 29 • 7:00 AM EST • Sports • theharrispoll.com
Driving Habits Provide Window Into Seniors' Brain Health

By Dennis Thompson HealthDay ReporterTHURSDAY, Jan. 29, 2026 (HealthDay News) — Larry Duncan valued driving as part of his independence. But Duncan — a retired business owner from Pinehurst, North Carolina — started to become more nervous behind the wheel prior to his diagnosis with Alzheimer’s ...

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Jan 29 • 6:15 AM EST • Health • usnews.com
Trump directs team to beef up his public schedule to combat questions about his stamina

Vague descriptions of presidential signing ceremonies, policy meetings and industry executive sit downs — mostly behind closed doors — began peppering President Donald Trump’s public schedule at the end of last year.

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Jan 29 • 6:00 AM EST • Politics • cnn.com
The Memo: Minneapolis trauma shifts the politics of immigration

Public outrage over the killings of Alex Pretti and Renee Good in Minneapolis is scrambling the politics of immigration. The Trump administration’s initial reaction to the Pretti killing, in partic…

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Jan 29 • 6:00 AM EST • Politics • thehill.com
Google Chrome Gets Gemini Side Panel and Agentic Browsing Features

AI-powered browsing features have become a battleground among browser makers in recent months. OpenAI launched its Atlas browser in October, while Microsoft Edge and Opera have also introduced AI assistants and automated browsing capabilities. And now Google is upping the ante. The company has announced a slew of new AI features fro Chrome, including a persistent sidebar for the Gemini chatbot and "auto browse" capabilities that can perform web tasks on your behalf.

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Jan 29 • 5:44 AM EST • Technology • macrumors.com
What to know about the Melania Trump documentary

As Melania Trump prepares to walk the red carpet at the newly rebranded Kennedy Center Thursday evening, she is proving that a peek behind the curtain of her life isn’t just a historical record, but a multi-million-dollar commodity.

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Jan 29 • 5:00 AM EST • Politics • cnn.com
Health Care Costs Tops the Public’s Economic Worries as the Runup to the Midterms Begins; Independent Voters Are More Likely to Trust Democrats than Republicans on the Issue

Heading into this midterm election year, the cost of health care tops the public’s economic anxieties and more than 4 in 10 voters say the issue will have a major impact on their vote, this KFF Health Tracking poll finds.

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Jan 29 • 5:00 AM EST • Health • kff.org
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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Behavioral Health as Economic Infrastructure

As behavioral health shapes productivity and inclusion, Catalight is building sustainable care models fit for the global economy

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Jan 29 • 12:00 AM EST • Health • cbsnews.com
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Texas blows early lead in 88-82 loss to Auburn

More of the same from these Longhorns.

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Jan 28 • 9:44 PM EST • Sports • burntorangenation.com
Army wins 67-64 over Lehigh

WEST POINT, N.Y. (AP) Tate Laczkowski scored 17 points as Army beat Lehigh 67-64 on Wednesday.

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Jan 28 • 9:05 PM EST • Sports • cbssports.com
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Attack on Ilhan Omar Follows Years of Trump’s Targeting Her

President Trump has spent years demonizing and dehumanizing the Somali-born Democrat from Minnesota, fueling escalating threats against her.

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Jan 28 • 5:33 PM EST • Politics • nytimes.com
Champions League live updates, scores: Arsenal, Liverpool, Manchester City cruising; Barcelona, Chelsea behind at halftime of Matchday 8
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Jan 28 • 3:58 PM EST • Sports • sports.yahoo.com
Hialeah man accused of stalking, planting tracker on ex-business partner’s car in Doral

A 44-year-old man from Hialeah was arrested Tuesday after police said he repeatedly stalked a former business associate and installed a tracking device on the victim’s vehicle.

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Jan 28 • 2:29 PM EST • Business • local10.com
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Sacramento Bee adds political reporting firepower at California Capitol

Ben Paviour will join The Bee next month as California Political Power Reporter, delivering exclusive storytelling on Statehouse politics.

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Jan 28 • 1:53 PM EST • Politics • sacbee.com
Geauga County’s largest behavioral health provider to merge with Ashtabula agency

Ravenwood Health will merge with Ashtabula County’s Community Counseling Center as longtime CEO Vicki Clark retires, expanding behavioral health services.

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Jan 28 • 1:46 PM EST • Health • cleveland.com
Google’s New Chrome ‘Auto Browse’ Agent Attempts to Roam the Web Without You

Google’s latest addition to its Chrome browser puts generative AI behind the wheel and you in the passenger seat.

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Jan 28 • 1:00 PM EST • Technology • wired.com
Fake Moltbot AI Coding Assistant on VS Code Marketplace Drops Malware

A fake VS Code extension posing as a Moltbot AI assistant installed ScreenConnect malware, giving attackers persistent remote access to developer syst

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Jan 28 • 12:46 PM EST • Technology • thehackernews.com
Florida Sheriffs swing behind Byron Donalds in Governor’s race

Law enforcement support builds as Donalds consolidates Republican primary momentum statewide

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Jan 28 • 11:32 AM EST • Politics • floridapolitics.com
Record-breaking South Carolina measles outbreak nearing 800 cases

The record-breaking measles outbreak in South Carolina has reached nearly 800 cases, making it the largest spread of the disease in the U.S. since it was first declared eliminated at the start of t…

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Jan 28 • 11:13 AM EST • Health • thehill.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
Beyond testosterone: The real crisis in men’s health

Increasing testosterone in men ignores deeply rooted cultural and social factors at the center of this health emergency.

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Jan 28 • 10:30 AM EST • Health • thehill.com
Walmart CEO Doug McMillon retiring as retailer gains more wealthy shoppers amid inflation

Walmart CEO Doug McMillon retires after 40 years, leaving behind a transformed retail giant that attracts higher-income shoppers through convenience.

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Jan 28 • 10:20 AM EST • Business • foxbusiness.com
China’s latest war game uses hospital and science ships for espionage

It is self-evident that Beijing is not promoting peace, health or scientific research.

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Jan 28 • 8:30 AM EST • Science • thehill.com
Hidden struggles: Cambridge scientists share the truth behind their success

In a career defined by constant questioning, self-doubt can become an occupational hazard. Now, for the first time, a group of Cambridge scientists reveal the personal struggles they’ve faced – and continue to face – as they strive for success.

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Jan 28 • 7:00 AM EST • Science • eurekalert.org
The surprising science behind how certain foods can make you smell more attractive

Beneath fancy perfumes and deodorants, our food choices may be quietly shaping our natural scent in unexpected ways

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Jan 28 • 6:00 AM EST • Science • scientificamerican.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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