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New York CNN —The American dream of homeownership is looking more like a nightmare. With inflation heating up again, the Federal Reserve is in no position to consider lowering interest rates at its upcoming meetings. That’s according to a New York Fed survey gauging consumers’ expectations of the housing market, released Monday. Consumers are gearing up for even bigger increases compared to the expected rise in mortgage rates over the next year, the New York Fed survey found. The issue of rent affordability is particularly pronounced in New York City, where housing costs have always been notoriously high compared to other parts of the country, absent a brief respite during the pandemic.
Persons: That’s, Kenny Lee, Aditya Bhave, Neel Kashkari, Bhave, ” Bhave, , Perdue “, , Read, TikTok, Joe Biden, Brian Fung, Bytedance Organizations: CNN Business, Bell, New York CNN, Federal, New, Fed, Zillow, Bank of America, CNN, Minneapolis, Bloomberg, United States Department of Labor, Seaboard Triumph Foods, Perdue, Labor Department, Seaboard, Labor, Packers Sanitation Services, Appeals, District of Columbia Circuit Locations: New York, New York City, Fayette, DOL, Sioux City , Iowa, Accomac , Virginia, China
New York CNN —A janitorial company has been fined $649,000 after an investigation found it hired minors for dangerous jobs cleaning slaughterhouses, the United States Department of Labor said Monday. Fayette Janitorial Service had employed at least 24 children, including those as young as 13, according to the DOL investigation. The minors had been working overnight shifts at two separate slaughter facilities, according to the DOL. The company said in February that it had ended all of its contracts with Fayette, according to the Sioux City Journal. Instances of illegal child labor have been growing in recent years, and other contractors have been fined over employing minors.
Persons: ” Fayette, , Perdue “, , – CNN’s Melissa Alonso, Ramishah Maruf Organizations: New, New York CNN, United States Department of Labor, CNN, Seaboard Triumph Foods, Perdue, Labor Department, Seaboard, Sioux City, Packers Sanitation Services Locations: New York, Fayette, DOL, Sioux City , Iowa, Accomac , Virginia
New York CNN —It’s a moment many shoppers grapple with at some point during a grocery run: Why does a carton of brown eggs cost more than a carton of white eggs? “It costs more to make a dozen brown eggs because the chickens that produce them tend to eat more.”Egg farmers say brown and white eggs are closely matched in their nutritional value. “If there’s brown eggs next to white eggs, typically you’re going to pay anywhere between 10% to 20% more for brown eggs, regardless of free range or organic,” he said. Brown eggs generally cost more in stores than white eggs. Looking specifically at the economics of producing brown eggs versus conventional white eggs, Anderson confirmed it does indeed cost more to produce the brown variety.
Persons: New York CNN —, It’s, , Daniel Brey, Brey, ” Brey, Edmund McNamara Edmund McNamara, Rose, Joan Frank, , ” Frank, McNamara, Phil Lempert, David Anderson, ” Anderson, Brown, Edmund McNamara, they’ve, Anderson Organizations: New, New York CNN, Rhode Island Reds, United States Department of Agriculture, University of California, David Department of Nutrition, Texas, M University Locations: New York, Jeffersonville , New York, Norwich , NY, New York’s Westchester County
Droughts in 2023 killed more than 12 million pine trees in Mississippi last year. A report from the United States Department of Agriculture and the Mississippi Forestry Commission found that at least 12.5 million trees died in the state after droughts last year. Mississippi experienced heavy droughts last year starting in June that were so bad that NASA could see the Mississippi River shrinking from space in September. During the droughts, experts say that pine beetles swept across the state taking out entire patches of decades-old pine trees. "We are in a position where we are going to have to do something," Vozzo told The Clarion Ledger.
Persons: That's, Sen, Cindy Hyde, Smith, Pete Vozzo, Vozzo, McCain, Madison, De'Keither Stamps, Tate Reeves, Stamps Organizations: Service, United States Department of Agriculture, Mississippi Forestry Commission, Business, NASA, Republican, Smith, Property, Clarion, McCain Tree Service, Public Service, De'Keither, Gov Locations: Mississippi, Hyde, Madison, Jackson, Vicksburg
CNN —Hundreds of prisoners have escaped from Haiti’s National Penitentiary in the capital, Port-au-Prince, after fighting broke out on Saturday, according to a law enforcement source. On Friday, Haitian gang leader Jimmy Cherizier, also known as Barbecue, said he would continue in his effort to try and oust Prime Minister Ariel Henry. “We ask the Haitian National Police and the military to take responsibility and arrest Ariel Henry. Caribbean leaders said Wednesday that Haitian Prime Minister Ariel Henry had agreed to hold general elections no later than August 31, 2025. Warring gangs control much of Port-au-Prince, choking off vital supply lines to the rest of the country.
Persons: Prince, Jimmy Cherizier, Ariel Henry, , ” Cherizier, Ralph Tedy Erol, Henry, William Ruto Organizations: CNN, Haiti’s Police, National, Haitian National Police, United Nations, United States Department of Treasury, Protesters, Wednesday, Haitian, Kenyan, Central Directorate of, Judicial Police Locations: Haiti’s, Port, Prince, Haiti, Kenya, United
In December last year, after years of trying, the National Ignition Facility, or NIF, at Lawrence Livermore National Laboratory reported that it had finally lived up to its middle name: ignition. For the first time anywhere, a laser-induced burst of fusion produced more energy than that supplied by the incoming lasers. “We’re really excited by the NIF results,” said Kramer Akli, who manages the fusion energy sciences program at the United States Department of Energy. A decade ago, a report by the National Academy of Sciences found much to like in the energy potential of laser fusion but recommended that the United States hold off major investments until ignition was achieved. The sun generates heat and light by jamming — fusing — hydrogen atoms together into helium.
Persons: We’re, , Kramer Akli, arth, ould Organizations: National Ignition Facility, Lawrence Livermore National Laboratory, United States Department of Energy, National Academy of Sciences Locations: United States
Video showing U.S. soldiers land in Romania in June 2022 has been falsely shared online as showing U.S. Marines arriving in Israel during the Israel-Hamas war in October 2023. “HAPPENING NOW: Thousands of U.S. Marines have just landed in Israel WW3 HIGH ALERT” read posts sharing the dated video on social media platform X, formerly known as Twitter. Screenshots from the video were also shared on Facebook and TikTok as showing a scene from Israel. However, the low-resolution video contains flopped excerpts from a longer video uploaded to a media-distribution service funded by the United States Department of Defense (DOD) that shows soldiers of the 101st Airborne Division (Air Assault) arriving in Mihail Kogainiceani, Romania in June 2022. Video shows U.S. army soldiers arrive in Romania in June 2022, not U.S. marines in Israel in October 2023.
Persons: Read Organizations: Marines, U.S, HIGH, Facebook, United States Department of Defense, DOD, 101st Airborne Division, Assault, Corps, United, Reuters, Pentagon, DoD, Thomson Locations: Romania, Israel, Mihail Kogainiceani, Europe, United States, Iran, U.S
Ellie Amador picks up a United States Department of Agriculture (USDA) Farmers to Families food box as food is distributed at the nonprofit New Life Centers' food pantry in Chicago, Illinois, U.S. March 16, 2021. The USDA report, which did not provide an explanation for the rise, found that 12.8% of households - equivalent to 17 million households - struggled to get enough food in 2022, up from 10.2%, or 13.5 million households, in 2021. Nearly 7 million households faced very low food security, meaning members' normal eating patterns were disrupted or food intake dropped because of limited resources, USDA said. More than 13 million children, or 18.5% of the country's child population, lived in food insecure households in 2022. More than 27.6 million Americans reported experiencing food scarcity in the most recent survey, conducted between Sept. 20 and Oct. 2, up 9.5% from the start of the year.
Persons: Ellie Amador, Daniel Acker, Tom Vilsack, Lisa Davis, Nell Menefee, Leah Douglas, Jonathan Oatis, Helen Popper Our Organizations: United States Department of Agriculture, Farmers, Centers, REUTERS, U.S . Department of Agriculture, . Census, USDA, Census, Children, WIC, National WIC Association, Thomson Locations: Chicago , Illinois, U.S, United States
Retail beef prices in the U.S. are at record highs, pushing up prices of beef-based products from burgers to steaks and steak tartare. Retail beef prices are currently hovering around record levels of about $8 per pound, according to data from the United States Department of Agriculture (USDA). "All consumers will be paying more for all beef products for several more years," Wells Fargo's Chief Agricultural Economist Michael Swanson told CNBC via email. "As cattlemen retain cows to rebuild the herd, there is a much lower supply of cattle to provide beef," Swanson said. With elevated cow slaughter, has come tighter cattle supplies, and an expectation that domestic cattle supplies will remain tight into the future.
Persons: That's, Wells, Michael Swanson, Swanson, Brandon Bell, Brian Earnest, Adam Speck, Speck Organizations: Portland Press Herald, Getty, CNBC, United States Department of Agriculture, USDA, Gro Locations: U.S, Texas, Kansas, Quemado , Texas, Gro Intelligence's
Because the $25-trillion Treasury market is considered the bedrock of the global financial system, soaring yields on U.S. government bonds have had wide-ranging effects. Higher Treasury yields can curb investors' appetite for stocks and other risky assets by tightening financial conditions as they raise the cost of credit for companies and individuals. With some Treasury maturities offering far above 5% to investors holding the bonds to term, rising yields have also dulled the allure of equities. Reuters GraphicsWith Treasury yields surging, credit market spreads have widened as investors demand a higher yield on riskier assets, such as corporate bonds. The MOVE index (.MOVE), a measure of expected volatility in U.S. Treasuries, has surged to a 4-month high, signaling expectations for continued Treasury market ructions.
Persons: Andrew Kelly, That's, Saqib Iqbal Ahmed, Davide Barbuscia, Ira Iosebashvili, Nick Zieminski Organizations: United States Department of, Washington , D.C, REUTERS, Treasury, Federal Reserve, Bank of America Global Research, Reuters, Traders, Reuters Graphics, Silicon Valley Bank, Signature Bank, Thomson Locations: Washington ,, U.S, Silicon
[1/3] The word "justice" is seen engraved at the headquarters of the United States Department of Justice (DOJ) in Washington, D.C., U.S., May 10, 2021. "Agri Stats operates its information exchanges to promote total industry profits at the expense of competition," said the DOJ's complaint. Attorney Justin Bernick of law firm Hogan Lovells, which is representing Agri Stats in the DOJ case, said the company denies the allegations. "Agri Stats provides vital benchmarking services that help keep production costs and prices low for consumers," Bernick said in an email. Tyson did not respond to questions about whether the company uses Agri Stats reports or provide comment on the lawsuit.
Persons: Andrew Kelly, Justin Bernick, Hogan Lovells, Bernick, Tyson, Leah Douglas, Barbara Lewis, Leslie Adler Organizations: United States Department of Justice, Washington , D.C, REUTERS, U.S . Department of Justice, Agri, Smithfield Foods, Tyson Foods, DOJ, Thomson Locations: Washington ,, U.S
Russian Foreign Minister Sergey Lavrov said Saturday the US is "directly at war" with Moscow. His statement comes after the White House pledged $600 million in additional aid to Ukraine. The US has pledged more than $100 billion in aid packages to Ukraine since the invasion began. "You can call this whatever you want to call this, but they are directly at war with us. In addition to the extensive aid packages, the US has implemented sanctions against nearly 100 Russian elites, as well as the country's industrial base, financial institutions, and technology suppliers.
Persons: Sergey Lavrov, Abrams, Biden Organizations: Russian, White House, US, Service, CNN, United States Department of Defense, Ukraine's Ministry of Defense, Government of, Russian Federation Locations: Moscow, Ukraine, Wall, Silicon, Russian, United States, Russia
Olive oil is the latest commodity to see prices spike to record highs. The average price in August was 130% higher than a year earlier, surpassing levels not seen since 1996. "Consumer and cultural preferences for olive oil make it difficult to substitute despite plentiful supplies of other vegetable oils," the USDA said. According to the United States Department of Agriculture, global olive oil prices spiked to $8,900 a ton in September as extremely dry weather in the Mediterranean raised the risk of supply disruptions. "While prices have moderated consumption somewhat, consumer and cultural preferences for olive oil make it difficult to substitute despite plentiful supplies of other vegetable oils," it added.
Organizations: Service, United States Department of Agriculture, EU Locations: Olive, Wall, Silicon
Bottles of olive oil and sunflower oil at a Mercadona SA supermarket in Barcelona, Spain. Bloomberg | Bloomberg | Getty ImagesOlive oil prices spiked to fresh records as severe droughts in major producing countries crimp supplies — and drive up thefts in cooking oil. Spain, the world's largest producer and exporter of olive oil, has been battered by an intense drought for months. Olive oil thievesPrices of olive oil in Spain's Andalusia soared to €8.45 ($9.02) per kilogram in September, Mintec's benchmark showed. Shortly before that, thieves made off with 6,000 liters of extra virgin olive oil worth €50,000 from Terraverne oil mill, Spanish newspaper El Munco said.
Persons: Kyle Holland, Marin Serrano El Lagar, El Munco Organizations: Mercadona SA, Bloomberg, Getty, United States Department of Agriculture, CNBC, International Olive Council Locations: Barcelona, Spain, Italy, Greece, Spain's Andalusia, Spanish
UNCHARTED WATERS Big Farms and Flawless Fries Are Gulping Water in the Land of 10,000 Lakes When Minnesota farmers cranked up their wells in a drought, they blew through state limits. The location of the White Earth Reservation is also shown, in the upper left portion of the map. Cloud St. Paul Minneapolis Rochester Sandy Soils WHITE EARTH RESERVATION Duluth Irrigation Wells St. Cloud St. Paul Minneapolis Rochester Sandy Soils WHITE EARTH RESERVATION Duluth Irrigation Wells St. “There’s a lot of water in this area.”His farm is awaiting approval for two new state permits for irrigation wells.
Persons: Warren, Mike Tauber, they’ve, , Trevor Milbrett, Warren Warmbold, , Mr, Warmbold, Offutt, Ellen Considine, don’t, Carlos Gonzalez, It’s, farming’s, Robert Glennon, John Nieber, Paul Minneapolis, Nieber, White, Jamie Konopacky, Allan Armstrong, Armstrong, Armstrong’s, Austin Tersteeg, Erskine, Tersteeg Organizations: R.D, Offutt, Minnesota Department of Natural, New York Times, Irrigation, Farmers, state’s Department of Natural Resources, United States Department of Agriculture, Department of Agriculture, Star Tribune, Getty, Park Rapids ., University of Minnesota, Twin, Paul Minneapolis Rochester Sandy, Paul Minneapolis, White, Department of Natural Locations: Lakes, Minnesota, R.D, Warren, Minn, Backus, Eagle Bend, United States, Midwest, Park Rapids, In Minnesota, North Dakota, America, Offutt, Twin Cities, Sandy, Duluth, Wells St, Cloud, Paul, Paul Minneapolis Rochester, Austin, Red Lake County
While big cities like New York, Los Angeles, and Chicago might appeal to some, that small-town charm can be a pretty big draw for others. All Star Homes, a roofing, siding and gutter company, ranked the best hometowns in America, analyzing the cities with a population of less than 100,000. To determine the ranking, the cities were scored across four key metrics on a 100-point scale:CommunitySafetyAffordable livingEducationSources for the ranking also included Zillow Home Values, the National Center for Education Statistics, FBI Crime Data Explorer, U.S. Census Bureau, the United States Department of Agriculture and the National Park Service. Smaller cities in New York reigned supreme, taking five of the top 10 spots.
Organizations: Homes, National Center for Education Statistics, Census Bureau, United States Department of Agriculture, National Park Service Locations: New York, Los Angeles, Chicago, America
REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCompanies JPMorgan Chase & Co FollowWASHINGTON, Aug 22 (Reuters) - Two former precious metals traders at JPMorgan Chase (JPM.N) were sentenced on Tuesday for engaging in fraud, attempted price manipulation and spoofing, the U.S. Justice Department said in a statement. Gregg Smith, 59, of Scarsdale, New York, was sentenced to two years in prison and a $50,000 fine while Michael Nowak, 49, of Montclair, New Jersey, was sentenced to one year and one day in prison and a $35,000 fine, the Justice Department said. Last year, Smith and Nowak were found guilty of fraud and other charges but acquitted of racketeering and conspiracy in a trial. Nowak was convicted on over a dozen charges including fraud, spoofing and attempted market manipulation, and Smith was convicted on 11 charges. JPMorgan agreed in 2020 to pay more than $920 million and admitted to wrongdoing to settle with the Justice Department and the Commodity Futures Trading Commission over these and other traders' conduct.
Persons: Andrew Kelly, Gregg Smith, Michael Nowak, Dodd, Frank, Smith, Nowak, Kanishka Singh, Andy Sullivan Organizations: United States Department of Justice, Washington , D.C, REUTERS, JPMorgan Chase, WASHINGTON, U.S . Justice Department, Justice Department, U.S, Congress, JPMorgan, Commodity Futures Trading Commission, Thomson Locations: Washington ,, Scarsdale , New York, Montclair , New Jersey, Washington
Democratic lawmakers are demanding a Department of Labor investigation into HR startup Deel. In March, Insider reported on internal concerns at Deel over its use of independent contractors. A group of Democratic congresspeople led by California representative Adam Schiff are calling for a federal investigation into the $12 billion HR startup Deel for allegedly misclassifying employees as independent contractors. Insider's March 2023 story found the startup, which helps large organizations hire and manage workers around the world, classified at least half of its workers as independent contractors. Deel workers who are hired as independent contractors do not receive certain employment rights that they would otherwise be entitled to if they were full-time employees.
Persons: Adam Schiff, Democratic congresspeople, Julie Su, Deel, Alex Bouaziz, Bouaziz, Schiff, Bill Pascrell, Raúl, André Carson, John Garamendi of, Haley Stevens of, Red Bull, Stephen Padilla Organizations: Department of Labor, Morning, Democratic, Labor, United States Department of Labor, Bloomberg, Insider's, Haley Stevens of Michigan, Nike, state's Labor, Workforce Development Agency Locations: California, Canada, Australia, France, Germany, Spain, Greece, Brazil, Turkey, India, Pakistan, Hong Kong, Singapore, Philippines, Nigeria, New Jersey, Arizona, André Carson of Indiana, John Garamendi of California
The nation's largest retailer said Thursday that it will cut the price of Walmart+ in half for those low-income households. Walmart has not disclosed total Walmart+ subscribers, but said about a quarter of its members get government assistance. Walmart launched Walmart+ in 2020 to hook shoppers and increase the likelihood of them spending more on its website and in stores. Along with the Walmart+ discounted price, Walmart said it has made it easier for families receiving food aid to shop online. It said it now accepts SNAP online in all 50 states.
Persons: Doug McMillon, Morgan Stanley Organizations: Walmart, Nutrition, SNAP, United States Department of Agriculture, Amazon Prime, Costco, Sam's, Paramount, Consumer Intelligence Research Partners, Walmart Connect Locations: U.S, Alaska
Mines cause more wounds among troops than artillery, a Ukrainian medic told the NYT. At the same time, fiberglass rods are used instead of metal detectors to find electrically triggered mines, Insider previously reported. Wounds caused by plastic mines are particularly difficult to treat, as medics cannot locate where plastic shrapnel is embedded in the body using traditional methods like X-rays. Russian troops aren't the only ones deploying antipersonnel mines as they continue their invasion of Ukraine. Insider previously reported Human Rights Watch this month urged Ukrainian officials to investigate reports of butterfly mines being used against Russian soldiers.
Persons: Valery Zaluzhny, Maksym Prysyazhnyuk, Prysyazhnyuk, Mark Kimmitt Organizations: Service, Washington, Troops, Mines, New York Times, Times, Ukraine's Ministry of Defense, of, Russian Federation, United States Department of Defense, United Nations Commission, Rights Locations: Ukraine, Ukrainian, Wall, Silicon, Brig
Tulare Lake used to be the largest lake west of the Mississippi River. This year's rain and snowmelt have replenished the lake, flooding many of the region's farms. And here's what it looked like on April 30:This is how the area looked on April 30, after Tulare Lake flooded. As of June, the flooded parts of Tulare Lake spanned about 178 square miles, or 113,920 acres — almost the size of Lake Tahoe. Tulare Lake began to reappear this March, before the Sierra Nevada snowpack started meltin.
Persons: Lauren Dauphin, NASA EOSDIS LANCE, Brad Rippey, Rippey, Dennis Hutson, Hutson, Nicholas Pinter, University of California Davis, Organizations: Farmers, Service, NASA, U.S . Geological Survey, United States Department of Agriculture, Atmospheric Administration, TAC Farm, for Watershed Sciences, University of California, Agriculture Assembly, Southern Sierra, Southern Sierra Nevada snowpack, San, Sierra, Sierra Nevada snowpack Locations: Tulare, Mississippi, Wall, Silicon, California, U.S, San Joaquin, Tulare Lake, Lake Tahoe, Tulare County, San Joaquin Valley, Tulare Lake ., Southern Sierra Nevada, Joaquin Valley, Sierra Nevada, Central
Several hundred Wagner fighters were killed by U.S. forces during a confrontation in Syria in 2018. U.N. sanctions monitors reported in 2020 that Wagner had deployed up to 1,200 people in Libya and the U.S. military Africa Command said Russian military aircraft were supplying Wagner fighters there. As well as bringing in Syrian fighters as mercenaries, Wagner worked alongside foreign fighters from Sudan, Chad and elsewhere. Russian mercenaries including from Wagner intervened in 2018 on the side of the government to quell a civil war that has raged since 2012. Wagner fighters have been accused of involvement in an incident last year in Moura, in central Mali, where local troops and suspected Russian fighters allegedly killed hundreds of civilians.
Persons: Russia's Wagner, Wagner, UKRAINE Wagner, BELARUS Wagner, Prigozhin, Alexander Lukashenko, Vladimir Putin, Bashar al, Assad, LIBYA Wagner, Khalifa Haftar's, Haftar, U.N, Omar al, Bashir, Angus McDowall, Alison Williams Organizations: Defence Ministry, Evro Polis, United States Department of Defense, United Arab Emirates, U.S ., Africa Command, CENTRAL, Central African, Reuters, Russian, Rapid Support Forces, Reuters newsrooms, Thomson Locations: Europe, East, Africa, UKRAINE, Ukraine, Bakhmut, BELARUS, Belarus, Asipovichi, Minsk, SYRIA Russia, Syria, U.S, Syrian, Libya, Hmeimim, Russia, LIBYA, Tripoli, Egypt, UAE, Russian, Sudan, Chad, Republic, Central African Republic, States, MALI, Mali, Moura, SUDAN, Moscow, Middle East
African swine fever has for years disrupted the $250 billion global pork market. The next step will be nationwide authorisation, the first ever for an African swine fever vaccine, and possible sales overseas. "There will be a specific interest obviously," Vilsack said in an interview with Reuters in April, speaking about possible purchases of the Vietnamese vaccines. Use of unlicensed live-virus vaccines in China in past years raised concerns they caused the emergence of new strains of swine fever. Only limited data are available from China's trials on a live-virus vaccine against swine fever.
Persons: Gregorio Torres, Torres, Thomas Vilsack, Vilsack, WOAH, Francesco Guarascio, Phuong Nguyen, Khanh, Dominique Patton, Sonali Paul Organizations: Organisation for Animal Health, Reuters, Rabobank, United States Department of Agriculture, Thomson Locations: Vietnam, Hanoi, world's, HANOI, China, U.S, United States, Khanh Vu, Beijing
African swine fever has for years disrupted the $250 billion global pork market. The next step will be nationwide authorization, the first ever for an African swine fever vaccine, and possible sales overseas. Use of unlicensed live-virus vaccines in China in past years raised concerns they caused the emergence of new strains of swine fever. Only limited data are available from China’s trials on a live-virus vaccine against swine fever. NAVETCO, AVAC and Vietnam’s agriculture ministry, which is responsible for approval of veterinary vaccines, did not respond to requests for comment.
Persons: Gregorio Torres, , ” Torres, , Thomas Vilsack, ” Vilsack, WOAH Organizations: World Organization for Animal Health, Reuters, Rabobank, United States Department of Agriculture Locations: Vietnam, China, United States
Scientists have discovered thousands of new species in an area of the Pacific Ocean. They found 5,578 species in the Clarion-Clipperton Zone, a 1.7 million square mile region. Of the 5,578 new species discovered, around 88% to 92% were "new to science," the report says. An array of crustaceans found in the Clarion-Clipperton Zone. A discovery in the Clarion-Clipperton Zone.
Persons: , Adrian Glover, Muriel Rabone, Glover Organizations: Service, Privacy, United States Department of, Natural Environment Research Council, Guardian, International, Authority Locations: Hawaii, Mexico, Clarion, Zone
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