SCROLL NEWS / DISCOVERY
Search headlines
Find the stories shaping the conversation.
Results for " KS " 34,995 found 🔀 AI-powered Shuffle
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.
Google Chrome unveils Gemini-powered auto-browsing feature
Gemini can complete your in-browser tasks now.
Record $1.76B expected to be bet on Super Bowl
Approximately $1.76 billion is expected to be bet on Super Bowl LX with U.S. sportsbooks, a nearly 27% year-over-year increase, according to the AGA.
Three months after Hurricane Melissa: PAHO continues supporting health system recovery across the Caribbean
Washington, DC, 28 January 2026 (PAHO)- Ninety days after Hurricane Melissa swept across parts of the Caribbean, countries are transitioning from emergency response toward recovery—while continuing to confront public health risks linked to damaged infrastructure, disrupted services, and heightened vulnerability to disease. The Category 5 storm made landfall first in Jamaica on 28 October 2025, causing widespread damage in several Caribbean nations, mainly across Jamaica, Cuba and Haiti, and placing sustained pressure on national health systems.
Ivanti warns of two EPMM flaws exploited in zero-day attacks
Ivanti has disclosed two critical vulnerabilities in Ivanti Endpoint Manager Mobile (EPMM), tracked as CVE-2026-1281 and CVE-2026-1340, that were exploited in zero-day attacks.
Senate blocks federal funding bills as deadline to avert shutdown looms
The funding package failed 55 to 45, with a handful of Republicans joining Democrats to block the bills
BHS 25th Anniversary; Dave DeBaker
Airdate: January 29th, 2026 BHS 25th Anniversary; Karen HawleyJanuary 29, 2026BHS 25th Anniversary; Dave DeBaker – Entertainment CorrespondentJanuary 29, 2026BHS 25th Anniversary; House Drummer Owen WoodJanuary 29, 2026BHS 25th Anniversary; Clay & Leslie McAndrews – Bright WallsJanuary 29, 2026BHS 25th Anniversary; Ryan Tarrant – Jackson Co. Chamber of Commerce & Experience JacksonJanuary 29, 2026BHS 25th…
6 Tactics Black Businesses Can Apply To Spur Revenue Growth In A Post-DEI World
Starting roughly a year ago, DEI rollbacks have meant $217 million in lost federal contracts to small businesses, including Black-owned ones.
Pollution control equipment breakdown reported at Clairton Coke Works, health officials say
The elevated readings did not exceed any 1-hour or 24-hour air quality standards, ACHD says.
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.
Mavericks put their hope in health as the 1-year anniversary of the Luka Doncic trade approaches
Anthony Davis and Kyrie Irving didn't play in that 118-105 loss to Minnesota — and might not be in a Mavericks uniform on the same night again — while it was a temporary injury absence for four-time NBA champion Klay Thompson and Cooper Flagg, the rookie No. 1 pick who landed in Dallas by crazy luck and is seen as the next face of the franchise after Doncic. Days shy of a year since the Mavs shipped their global superstar to the Los Angeles Lakers for Davis and rocked the core of a team that was just nine months removed from playing in the NBA Finals, Washington's hope for a return to contention rests with those four teammates being healthy alongside him.
Mavericks put their hope in health as the 1-year anniversary of the Luka Doncic trade approaches
Google Extends Pixel Tablet OS Updates for Another 2 Years
Pixel Tablet updates now last another 2 years, thanks to new promise from Google. While Google has done some weird things with updates on some of its older devices (the Pixel... #Google #PixelTablet
Google disrupts IPIDEA residential proxy networks fueled by malware
IPIDEA, one of the largest residential proxy networks used by threat actors, was disrupted earlier this week by Google Threat Intelligence Group (GTIG) in collaboration with industry partners.
Shaw’s ‘diamond in the rough’ goes from basketball-only to committing to LSU for football
Jackson Williams’ future appeared to be on the basketball court, but a transfer from Newman to Shaw put him on a new path to LSU football. Here’s his story.
theScore Bet Customers Flocking to Seahawks in Player Prop Markets
Seattle’s offense has averaged 36 points in the playoffs, so it's no surprise players like Jaxon Smith-Njigba and Kenneth Walker III are popular.
Former reality TV father of 8 reveals major health scare: ‘I could have died’
It happened just weeks before his marriage to his second wife.
John Leguizamo under fire for demanding fans choose between him and ICE
John Leguizamo sparks controversy telling ICE supporters not to follow him or watch his movies. Fans remain divided over the actor's bold stance.
A Business Owner Is Getting Divorced, Asks Dave Ramsey If He'll Lose The Business. 'She's Actually 98% Owner Of The Business And I'm 2% Owner'
A Texas business owner is facing a painful split, not just from his wife, but potentially from the company he helped build. He says he’s done almost all the work since 2021, but legally owns just 2% of the business. His wife holds the other 98%, a structure their accountant recommended for tax reasons. Divorce And Ownership Don't Match Up Manny, who shared his story on the “EntreLeadership” podcast recently with personal finance expert Dave Ramsey, said, “She’s actually 98% owner of the business
Make an Honest Living in Three New GTA Online Odd Jobs
Join the ranks of the Los Santos Fire Department as a Firefighter, load up delivery vans for Alpha Mail as a Forklift Operator, or deliver the old-fashioned printed version of the Los Santos Meteor with a Paper Route in three new Odd Jobs now available...
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.
Jackson Health CEO to step down. Who will be the new leader?
Carlos Migoya has led Jackson for nearly 15-years and is credited with saving the hospital system from financial ruin.
Live Seahawks vs. Patriots Q&A with SB Nation’s Doug Farrar
SB Nation’s Doug Farrar is doing a live Super Bowl LX Q&A with Field Gulls readers this Friday. Add your questions in the comments!
cbdMD Strengthens Regulatory Science Platform to Support Emerging Regulatory Cannabinoid Evaluation Pathways
cbdMD, Inc. (NYSE American: YCBD), a leading innovator in hemp-derived wellness products, today announced a strategic initiative to integrate and expand its regulatory science, safety, and intellectual property assets to establish a differentiated cannabinoid compliance and evidence platform aligned with evolving federal healthcare evaluation frameworks, including emerging CMS and CMMI innovation initiatives.
Democrats Block Spending Package as D.H.S. Talks Continue
With about 36 hours to go before a shutdown deadline, the funding legislation stalled while Democrats sought a deal with President Trump to rein in his immigration crackdown.
Senate blocks massive funding bill, with critical talks underway to avoid government shutdown
Bipartisan senators blocked a massive spending bill Thursday, as eleventh-hour talks continue to avoid a costly partial government shutdown that looms at the week’s end.
APSU’s College of STEM announces spring Science on Tap slate
The Austin Peay State University (APSU) College of Science, Technology, Engineering and Mathematics (STEM) has announced a four-date Science on Tap slate for Spring 2026.
How stroopwafels and saffron tiramisu fit into Starbucks' plan to get to 40,000 stores around the world
The CEO of its international business doesn't see anti-U.S. feeling hurting business.
Hear possible options for watching Tigers after FanDuel Sports Network
On "Days of Roar," The Athletic senior writer Evan Drellich details the struggles of regional sports networks and the impact on Detroit Tigers fans.
John Hancock CEO: We all have a role in driving better health outcomes for Americans
I recently testified before the U.S. Congress Joint Economic Committee on improving long-term health outcomes and reducing healthcare costs.
Exclusive: UK’s Schroders discussed private capital tie-ups in growth push, sources say
Schroders has held high-level talks about potential tie-ups to speed up the growth of its private capital business, three people familiar with the matter told Reuters, as the 222-year-old British asset manager seeks to gain scale.
Stop killing your SSD: 6 must-do Windows 11 tweaks
Follow these tips for a long-lasting SSD!
Pre-Snap Reads 1/29: The Seahawks are for real
In the words of Linda Ronstadt: for a long, long time.
Amtrak coach vs. business class comparison: seats, perks, experience
Here's how traveling on Amtrak's Northeast Regional train in coach compares to an Acela business-class trip.
Brandon Miller, Hornets aim to stay 'hungry' vs. Mavericks
These are heady times for the Charlotte Hornets, who have won four straight games for the first time in nearly two years.
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.
Spring Health Joins Forces with Alma, Expanding Access to Precision Mental Health Care
/PRNewswire/ -- Spring Health, a leading global mental health platform for employers and health plans, today announced it has entered into an agreement to...
Several propane tanks catch fire outside of business in Philadelphia's Roxborough neighborhood
Several propane tanks caught fire outside of a business in Philadelphia's Roxborough neighborhood on Thursday morning.
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.
Game Preview: Chicago Blackhawks @ Pittsburgh Penguins 1/29/2026
Who: Chicago Blackhawks (21-23-9, 51 points, 6th place Central Division) @ Pittsburgh Penguins (26-14-11, 63 points, 2nd place Metropolitan Division) When: 7:00 p.m. eastern How to Watch: Locally broadcast on Sportsnet Pittsburgh and CHSN in the local markets, streaming on ESPN+ Pens’ Path Ahead: It’s a week-long sprint to the Olympic break finish line for the Pens. […]
MLB offseason grades: Dodgers get top marks, plenty of Fs to go around
USA TODAY Sports issues grades for all 30 MLB teams this winter.
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.
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.
Super Bowl LX sets up Patriots Seahawks rematch
Super Bowl LX reignites New England Patriots and Seattle Seahawks rivalry, while Bad Bunny brings international star power to halftime show.
How much B6 is safe? What to know about the supplement found in energy drinks
Poisoning caused by too much of the popular nutrient is rare, but cases are ticking up. Experts warn that people may not be aware they’re getting too much.
Exclusive: Honda signs Fabio Quartararo for 2027 MotoGP season
Quartararo’s switch from Yamaha to Honda marks the first major move of the 2027 MotoGP rider market
UToledo Provided Path for Senior to Discover His Passion for Environmental Science
Brett Polak’s work experience in the GUTS program and on campus led him to jobs with Toledo Metroparks and the Ohio Department of Natural Resources.
Reign dominate Canucks in 6th straight home victory
The Ontario Reign (28-12-1-1; 58 points) take a commanding 5-2 victory over the Abbotsford Canucks (15-23-3-3; 36 points) Wednesday night at Toyota Arena. Five different skaters scored for the Reign, coming together for a full team-effort. Ontario remains in first place in the AHL Pacific Division.
Throwback Thursday: Notre Dame Fighting Irish Football VS Michigan, 1992
This week’s Throwback Thursday takes us back to one of the most emotionally charged games ever played inside Notre Dame Stadium — the 1992 showdown between Notre Dame and Michigan. I chose this game in honor of Reggie Brooks, whose birthday we just celebrated on January 19th. Reggie’s legacy at Notre Dame extends far beyond […]
Pakistan becomes latest Asian country to introduce checks for deadly Nipah virus
Authorities in Pakistan have ordered enhanced screening of people entering the country for signs of infections of the deadly Nipah virus after India confirmed two cases, adding to the number of Asian countries stepping up controls.
ACU Sports Podcast: Wildcat Annual Fund Director Anthony Egbo
Anthony Egbo, former ACU football player and current director of the Wildcat Annual Fund, talks about ACU Athletics' unique approach to philanthropy, what to expect for ACU Gives, and shares stories of how ACU has impacted student-athletes' lives even if they are only a Wildcat for a year or two.
Xi-Starmer meeting: Chinese leader tells PM he hopes both countries can ‘rise above differences’
At Beijing talks, British prime minister Keir Starmer tells Xi he wants a ‘more sophisticated’ relationship with China
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.
Talks intensify to avert shutdown as White House and Senate leaders eye last-ditch deal
The White House and Senate leaders are moving closer to a deal to avert a government shutdown but are seeking to resolve final sticking points in eleventh-hour negotiations ahead of Friday’s deadline, according to several sources familiar with the talks.
Business owner speaks out after Ypsilanti parents detained by ICE
Defining Lung Health Through the Lifespan
The National Heart, Lung, and Blood Institute is hosting the virtual workshop "Defining Lung Health Through the Lifespan" on March 4–5, 2026.
Highway 21 Dairy Queen closure sparks conversation amongst local business owners
some local business owners say despite the roadwork, they say the project is good for the community.
Yuba City eyes $8.5 million state grant for new regional sports complex
A new regional youth sports complex could be coming to Yuba City. The city's public works department is planning to apply for a state grant that could award up to $8.5 million through a revitalization program.
Super Bowl 2026 odds: Seahawks vs. Patriots predictions and picks
Who's favored to win the Super Bowl? Find the latest odds, picks and predictions for Seahawks vs. Patriots.
'Halide' Co-Founder Sebastiaan de With Joins Apple's Design Team
Sebastiaan de With, co-founder of the popular iPhone camera app Halide, today announced that he has joined the Human Interface Design team at Apple. "So excited to work with the very best team in the world on my favorite products," he said. This marks a return to Apple for de With, who previously worked on things such as iCloud, MobileMe, and the Find My app. He has also completed design work for other companies, such as Sony, Mozilla, Oracle, HP, and EA, in the past.
Kings, Sabres each carrying strong momentum into clash
The Buffalo Sabres and visiting Los Angeles Kings each bring winning streaks into their Thursday night contest.
Blackstone's biggest hedge fund business returned 12% in 2025, sources say
Blackstone's biggest hedge fund platform, Absolute Return Composite (AR), returned nearly 12% last year, beating the benchmark HFRX Global Hedge Fund Index's 7.1% gain, two people familiar with the numbers said on Wednesday.
DeWine defends hemp beverage ban: Businesses knew the risks
A veto by Gov. Mike DeWine eliminated a provision that would have allowed popular THC drinks to remain on sale through the end of 2026. The governor said Wednesday businesses knew the risks when they got started.
The Alliance for Primary Health Care in the Americas marks two years and formally welcomes Bolivia and Uruguay as members
PAHO, the World Bank, and the IDB initiative has driven health system transformation and aligned more than one billion dollars in investments across five countries. Brazil expressed its support, signing a letter of intent.Rio de Janeiro, 28 January 2026 — The Alliance for Primary Health Care (PHC) in the Americas, a joint initiative of the Pan American Health Organization (PAHO), the World Bank (WB), and the Inter-American Development Bank (IDB), is celebrating its second anniversary with achievements in transforming health systems across the region.
Trump's response to Pretti killing upends Second Amendment politics : Here & Now Anytime
Alex Pretti was legally carrying a gun when a federal agent shot and killed him in Minneapolis last weekend. President Trump and other federal officials blamed his death on the fact that he had a gun, but Minnesota Gun Owners Caucus chair Bryan Strawser explains why he disagrees.And, after leading immigration operations in Minneapolis, Border Patrol Commander Gregory Bovino has returned to his previous job in California. CalMatters investigative reporter Sergio Olmos talks about Bovino’s record in California.
Give Your Problems (and Passwords) to Moltbot, Then Watch It Go
A viral new virtual assistant formerly known as Clawdbot is complex and brings security risks—but some early adopters say it feels like the future.
How to watch NASCAR races on FOX, FS1, FS2, FOX Sports App
Check out the best ways to watch NASCAR action on the FOX Sports family of networks in 2026 for the Cup Series and Craftsman Truck Series.
Jets hire Brian Duker as defensive coordinator
The Jets’ search for a new defensive coordinator is over. The team is hiring Brian Duker per Tom Pelissero. The 36 year old Duker worked under Glenn with the Lions for three years. He went from defensive assistant in 2021 to safeties coach in 2022 to defensive backs coach in 2023. The last two years […]
Giannis Antetokounmpo trade rumors: Bucks listening on deals for star
Giannis Antetokounmpo has indicated he's ready to move on from the Bucks, and Milwaukee is reportedly willing to listen to offers. Here's the latest.
Patrick Reed leaving LIV Golf, will return to PGA Tour this year
The 2018 Masters champion follows Brooks Koepka back to the PGA Tour.
With Apple’s new Creator Studio Pro, AI is a tool to aid creation, not replace it
Apple’s Creator Studio Pro leverages AI to help creators with tedious tasks—like finding clips or building slides—without trying to do the work for them
As the Trump administration targets NCAR, scientists rally to defend the ‘mothership’ of atmospheric research
A letter published by the National Science Foundation asks for ideas to dismantle the research hub. Scientists are responding en masse.
Owners of Twin Peaks restaurant file for bankruptcy
Officials with TWNP said in a news release that they will use the filings to strengthen their capital structure through reducing their debt to keep the corporation successful for years to come.
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.
Women's College Hoops Spotlight: Georgetown Coach Praises 'Best' UConn Team
FOX Sports' Laken Litman breaks down Georgetown coach Darnell Haney's eyebrow-raising comments after UConn throttled his team.
New Sony WF-1000XM6 leak reveals new updated colour options
The WF-1000XM6 is set to debut with more launch colour options than Sony's WF-1000XM5 earbuds, according to a new leak. Tipped to debut next month for $329.99 in the US and €299.99 in the Eurozone, the change would be a first for the WF-1000X series.
Ranking 2026 Big Ten football schedules from easiest to toughest
Big Ten heavyweights must overcome grueling schedules in 2026 to reach their ultimate destination
Is Wyoming hoops stuck in purgatory within modern college basketball?
Every season for a reasonably successful mid-major university begins in a similar fashion. They schedule a few in-state cupcakes as the season and home openers before, if they are lucky enough, participating in an ever-declining MTE tournament during the week of Thanksgiving. Throw in a dash of high-major money labeled as “buy games” to help […]
AMD Ryzen 7 9850X3D Review - The Best Just Got Better
The AMD Ryzen 9850X3D builds on the already excellent 9800X3D without trying to shake up the market. Instead, it focuses on refining what already works. AMD delivers modest improvements with smarter tuning, and the same cache magic that gamers love. Thanks to a reasonable price increase, this processor will be a no-brainer pick for future high-end gaming rigs.
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
Apple's 'Creator Studio' App Bundle Now Available for $12.99 Per Month
Apple today launched the new Creator Studio that was initially unveiled two weeks ago, providing content creators with access to six Apple apps for $12.99 per month or $129 per year. Creator Studio includes Final Cut Pro, Logic Pro, and Pixelmator Pro on Mac and iPad, along with Motion, Compressor, and MainStage on the Mac. Final Cut Pro is Apple's video editing software, Logic Pro is for audio editing and creation, and Pixelmator Pro is an image editing app that Apple purchased in 2024.
Apple Creator Studio launches today, and it's an incredible value
Two weeks ago, Apple announced its brand new Apple Creator Studio bundle, offering its suite of creative apps for a...
Davis Webb rumors reveal Raiders' competition for Broncos assistant coach
Denver Broncos passing-game coordinator and quarterbacks coach Davis Webb has drawn a lot of interest this offseason and the Las Vegas Raiders have some competition for his services.
Moto G77 launches with a 108MP camera with 3x lossless zoom, 120Hz AMOLED display, and an IP64 rating
Motorola has grown its Moto G series line of smartphones with the launch of a new model. The new Moto G77 has a new camera, a bigger battery, and a brighter display than its predecessor, the Moto G75.
Starbucks Says Turnaround ‘Ahead of Schedule’ as Sales Rebound
The coffee chain’s stock jumped after a better-than-expected earnings report.
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.
4 Incredible Techniques Combine to Advance Dark Energy Science
Big, recent investments are paying off as the world's dark energy observatories continue to produce results.
After D.C. clears homeless encampments, health workers warn of growing risks
While Trump administration officials say that sweeps of homeless encampments make public spaces safer, health workers say they are disrupting care for people with serious medical needs and increasing the risk of illness and death.
Blackhawks’ Connor Bedard nightmare continues with embarrassing moment
Things just aren't going well right now.
Viral AI assistant Moltbot rapidly gains popularity but poses security risks
The open source "Jarvis" chats via WhatsApp but requires access to your files and accounts.
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
New WhatsApp lockdown feature protects high-risk users from hackers
Meta has started rolling out a new WhatsApp lockdown-style security feature designed to protect journalists, public figures, and other high-risk individuals from sophisticated threats, including spyware attacks.
Inside the minds of two US Olympians — and how they achieve greatness
U.S. Olympians Erin Jackson and Alysa Liu demonstrate how different personality traits and cognitive styles can lead to elite athletic success.
Who will win next year's Super Bowl? 2026 NFL power rankings using Super Bowl 2027 odds
The 2026 Super Bowl is just over one week away, but who are the early favorites to win a title next season? Here are the latest odds.
New Jacksonville health center to bring expanded services, welcome patients regardless of insurance
A Jacksonville health center is expanding its reach to treat more people, especially those who do not have insurance.
Analysis: Trump’s team almost never backs down from its false claims. This past week has been different
From the start, this has been a say-anything presidential administration.
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
Leaked Starbucks org chart shows who's who behind its turnaround
Org charts reveal a company's power structure. A copy of Starbucks' chart shows who's helping CEO Brian Niccol drive the chain's turnaround.
Amazon announces new layoffs as restructuring continues
Amazon announces another mass layoff as CEO Andy Jassy takes aim at bureaucracy and seeks a cultural reset.
