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Cloud ramp up weighs on Oracle's profit view, shares fall
  + stars: | 2021-06-15 | by ( Reuters Staff | ) sentiment -0.98   time to read: +2 min
FILE PHOTO: The Oracle logo is shown on an office building in Irvine, California, U.S. June 28, 2018. REUTERS/Mike Blake(Reuters) -Oracle Corp on Tuesday forecast current-quarter profit below Wall Street estimates, as the business software maker ramps up investments in its cloud computing business to take on rivals including Microsoft and Increased investment in cloud, however, led Oracle to forecast first-quarter earnings per share of 94 cents to 98 cents, below expectations of $1.03, sending its shares down 4.5% in extended trading. Investors and analysts though still see the 45-year-old company as a niche player when compared to giants such as Alphabet Inc’s Google, Microsoft and Amazon. The company posted adjusted profit of $1.54 per share on revenue of $11.23 billion in the fourth quarter ended May 31, compared with estimates of a profit of $1.31 and revenue of $11.04 billion.
Persons: Mike Blake, , Scott Kressler, Oracle Organizations: REUTERS, Oracle Corp, Wall, Microsoft, Oracle, Video Communications, Investors Locations: Irvine , California, U.S,
Facebook, big tech face EU blow in national data watchdogs ruling
  + stars: | 2021-06-15 | by ( Foo Yun Chee | ) + 0.00   time to read: +3 min
Consumer lobbying group BEUC welcomed Tuesday's ruling by the EU Court of Justice (CJEU), which backed the right of national agencies to act, citing enforcement bottlenecks. Several national watchdogs in the 27-member EU have long complained about their Irish counterpart, saying that it takes too long to decide on cases. "It has also opened the back door for all national data protection enforcers to start multiple proceedings against companies," CCIA Europe senior policy manager Alex Roure said. "Data protection compliance in the EU risks becoming more inconsistent, fragmented, and uncertain. We urge national authorities to be cautious about launching multiple proceedings that would weaken legal certainty and further complicate data protection compliance in the EU," he said.
Persons: Dado, BEUC, Tuesday's, CJEU, Monique Goyens, Jack Gilbert, Facebook's, CCIA, Alex Roure Organizations: EU, REUTERS, European Union, Consumer, of Justice, Google, Twitter, Apple, Facebook, Big Tech, Verizon Media, Microsoft, Tech, Thomson Locations: European, Ireland, Belgian, Belgium, Europe
Gambling-related ads, such as sports betting and casino games, will also be barred from the coveted — and pricey — ad spot. Stablecoins, which peg their price to physical assets outside the cryptocurrency space, could soon replace your credit cards and cash. It's successfully flown 15 times, but never with human passengers — and Bezos will have no pilot and possibly no spacesuit. Elon Musk said Tesla will accept Bitcoin payments once miners use 50% clean energy. We examined how much Snowflake, Databricks, UiPath and other top AI companies pay their engineers, researchers, and staff.
Persons: Let's, you've, Jeff Bezos, It's, Elon Musk, Tesla, Bitcoin, Musk, Jordan Erb Organizations: YouTube, Elon, Microsoft, Netflix, Apple, Apple Watch, Humanity, CloudKitchens Locations: Tech, Arizona, Databricks
Macrometa used this pitch deck to raise a $20 million Series A, only eight months after its seed round. Cofounder Chetan Venkatesh told Insider Macrometa is now aiming to be the "fourth cloud titan." But it needs to work with Amazon, Microsoft, and Google's clouds in order to make that happen. You can read the pitch deck Macrometa used for investors to raise its Series A round, as well as a deck sent to existing investors at the time of the raise, below. Read the pitch deck that Macrometa used to raise its $20 million Series A round, as well as the update deck it gave investors at the time of the raise, as shared with Insider:
Persons: Macrometa, Chetan Venkatesh, Venkatesh, Durga Gokina, Venktaesh, IDC's Patrick Filkins, Filkins, We've Organizations: Amazon, Microsoft, Palo, Amazon Web Services, Google, Pelion Venture Partners, DNX Ventures, Benhamou Global Ventures, Partech Partners, Fusion Fund, Sway Ventures, Shasta Ventures, Big Locations: Palo Alto
The Department of Justice is trying to convince advertisers to report ad fraud to law enforcement as it steps up its pursuit of cybercrimes. It's hard to quantify the cost of ad fraud — where advertisers pay for online ads that actually go unseen — but estimates ranging from $6.5 billion to $19 billion annually, according to eMarketer. Advertisers are often reluctant to report ad fraud. If a fraud event happens, advertisers should contact law enforcement, stop using affected systems, and record internal investigations so they can be handed off to law enforcement. The interest comes as ad fraud is likely to increase, with fraudsters finding new opportunities in mobile and connected TV.
Persons: adverstisers, Cybercrime, John Lynch ,, Lynch, Mike Zaneis, We're, Hydra, Aleksandr Zhukov, incarcerate Zhukov, it's Organizations: Justice, US Department of Justice, Department, TAG, FBI, Secret Service, DoJ, Microsoft, Google Locations: United States, Canada, Europe, Asia, Bulgaria
Cruise, a majority-owned subsidiary of General Motors , has secured a new $5 billion line of credit as it prepares for commercialization of its autonomous ride-hailing business. Ultimately, GM Finance is providing Cruise credit instead of the company attempting to raise outside capital, which it has done in the past. This past month, Cruise said GM began assembly of 100 pre-production Cruise Origin vehicles that will be built this summer for validation testing. Commercializing autonomous vehicles has been far more challenging than many predicted even a few years ago. It has been operating an employee ride-hailing service with a current fleet of autonomous vehicles in San Francisco for several years.
Persons: it's, Ammann, Cruise, Dan Ammann Organizations: GM, General Motors, GM Finance, Cruise, Honda, Vision Fund, Walmart, Microsoft, California Public Utilities Commission Locations: Detroit, San Francisco
Intel veteran Pat Gelsinger rejoined the company in February to turn around slowing growth. Based on visa data collected from Q1 2021, here's how much Intel pays tech workers. For years, the $234 billion chip giant Intel has experienced slowing revenue growth and shrinking margins. Enter Pat Gelsinger, a company veteran who left the top spot at VMware in February to step in as Intel's new CEO and try to turn the company around. To see what Intel pays its tech workers, Business Insider analyzed the US Office of Foreign Labor Certification's disclosure data for permanent and temporary foreign workers collected from the first quarter of 2021.
Persons: Pat Gelsinger Organizations: Intel, AMD, Taiwan Semiconductor, Nvidia, Apple, VMware, IBM, Microsoft, Google, Business, of Foreign Labor Locations: Arizona
Zscaler's CEO says companies are ready to embrace cloud security because COVID "shook off resistance to change." CEO Jay Chaudhry was born in a town without running water or electricity and is now worth $12 billion. The world is finally ready to dump on-premises security tools like firewalls, he told Insider: "COVID shook off resistance to change." Zscaler CEO Jay Chaudhry opens the company's conference on June 15, 2021. Ultimately, the research found 60,572 cybersecurity vulnerabilities in companies' public cloud security.
Persons: Jay Chaudhry, — Chaudhry, Chaudhry, COVID, Zscaler, George Kurtz, Todd McKinnon, cybersecurity, Nathan Howe, India Chaudhry, You've, , He's Organizations: Zenith, Edgewise, Microsoft Exchange, Colonial Pipeline, Amazon Web Services, Google, Forbes, University of Cincinnati, Secure Locations: San Jose, India, America, Ohio, Silicon Valley
TD Ameritrade's JJ Kinahan on Apple and Microsoft
  + stars: | 2021-06-15 | by ( ) + 0.77   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTD Ameritrade's JJ Kinahan on Apple and MicrosoftJJ Kinahan, TD Ameritrade’s chief market strategist, joins ‘Closing Bell’ to discuss Apple and Microsoft, saying these are the stocks that people buy when they're unsure of what to do next.
Persons: JJ Kinahan, Microsoft JJ Kinahan, TD, Bell Organizations: Apple, Microsoft
AWS, Google Cloud, IBM, and Microsoft Azure are launching bank-specific business lines and offerings. Amazon Web Services, Google Cloud, IBM, and Microsoft Azure have made in-roads with financial firms in recent years. Google Cloud, for example, recently added PayPal as a payment method for Google Ads and Google Workspace. Plus, IBM's enterprise technology business, unlike some of its competitors, precedes the public cloud, Posey added. The bank maintains a multi-cloud approach, upholding existing deals with AWS, Google Cloud and IBM, though it dubbed Microsoft its lead partner.
Persons: Melanie Posey, Posey, Coinbase, FABRICE COFFRINI, Goldman Sachs, George Lee, It's, prem, Howard Boville, Banks, Arvind Krishna, Bill Borden, Morgan Stanley Organizations: Google, IBM, Microsoft, Wall, Web Services, Google Cloud, Amazon, P Global Market Intelligence, AWS, Capital One, JPMorgan Chase, Millennium Management, Getty, HSBC, Deutsche Bank, PayPal, Bank of America, Capital, JPMorgan, Bank of, ACI Locations: New York, AFP, Bank of Montreal
But investors don't seem concerned: They're still treating Oracle like it's a red-hot social media stock instead of a boring database software company. Oracle up more than 25% this yearStill, Oracle's stock has outperformed nearly all its sexier Nasdaq rivals this year. Jefferies analyst Brent Thill points out that Oracle shares are now trading at their highest valuation, based on projected earnings forecasts, in nearly four years. He also worries that Oracle, despite its increased cloud presence, still lags Amazon, Microsoft and Alphabet in the cloud segment. Other analysts worry about Oracle losing momentum in its core database business as well.
Persons: Donald Trump, Theowner, Safra Catz, Mark Hurd, Larry Ellison, Oracle, Trevor White, Cowen, Derrick Wood, Brent Thill, Karl Keirstead, Keirstead, Mark Murphy, Ellison, Gen Z Organizations: CNN, White, Oracle, Nasdaq, Facebook, Netflix, Google, Research, Jefferies, Microsoft, UBS, IBM IBM, J.P, Morgan Securities Locations: York
The top national security official at the Department of Justice is resigning as the department grapples with the fallout over its subpoena of the phone records of members of Congress and reporters during the Trump administration, a DOJ official confirmed Monday. The resignation comes as Attorney General Merrick Garland announced an overhaul of DOJ's procedures amid revelations that the agency seized Democratic lawmakers' communication records. John Demers, who's been the head of DOJ's national security division since 2018, plans to step down at the end of next week, the DOJ official told NBC News. The departure of Demers, who likely was briefed on decisions to subpoena phone records linked to reporters and members of Congress, was planned and is not related to the controversy, the official said. The Justice Department has also drawn fire for seizing the records of journalists at The New York Times and elsewhere in an effort to identify sources for national security stories published during the Trump administration.
Persons: Trump, General Merrick Garland, John Demers, who's, Demers, John Carlin, Chuck Schumer, Adam Schiff, Eric Swalwell, Donald Trump's, Garland Organizations: Department of Justice, DOJ, Democratic, NBC News, Apple, Microsoft, California Democrats, House Intelligence, The, The New York Times Locations: California, Russia
Here is the full transcript of the NBC News interview with Russian President Vladimir Putin, which took place in Moscow on June 11, 2021. VLADIMIR PUTIN: Well, I don't know. VLADIMIR PUTIN: —it conduc— it conducts—KEIR SIMMONS: Russia is—VLADIMIR PUTIN: It conducts exercises in that battlefield. KEIR SIMMONS: I don't— I don't— I don't think I heard you answer the question, the direct question— Mr. President. I don't think that anybody in the Syrian government is interested in stealing some part of this humanitarian assistance.
Persons: Vladimir Putin, Keir Simmons, KEIR SIMMONS, it's, VLADIMIR PUTIN, Biden, autocrats, I'm, What's, , Will, We're, We've, I've, Assad, he's, Let's, — VLADIMIR PUTIN, Trump, they're, One's, — KEIR SIMMONS, Colin Powell, Cybersecurity, Mr, Putin, Presi, Keir, You've, mut, Isn't, administr, Biden —, He'll, Alexei Navalny, Navalny, United States — KEIR SIMMONS, you'll, Alexei Navalny — VLADIMIR PUTIN, Alexei Navalny's, John McCain —, we're, Th, Ann — Anna Anna Politkovskaya, Alexander Litvinenko, Sergei Magnitsky, Boris Nemtsov, Mikhail Lesin —, Lesin, — Biden, Lukashenko, hasn't, — you've, Gorbachev, You’ve, nyah, Russia — Paul Whelan, Trevor Reed, Trevor Reed —, I'd, — shitfaced, It's, Yaroshenko, he'd —, he'd, They're, It's —, Rogozin, Andrea Mitchell —, Boris Yeltsin Organizations: NBC, NBC News, Iran, NATO, U.S, Foreign Ministry, Defense — Ministry, Pentagon, State Department of, , Senate, Treasury Department, Microsoft, America, International League of Sexual, Russian Federation, United, — Hollywood, Washington , D.C, Air Force, Bolivian, European Union, of Islamic Conference, U.S . State Department, Security, Russia, NASA, People's Liberation Army, China Locations: Moscow, American, , Russia, Iran, Tehran, Iraq, Yemen, Israel, Saudi Arabia, Europe, United States, U.S, Washington, Libya, Afghanistan, Syria, Helsinki, Trump, Soviet, Octo, America, Ukraine, USSR, United, — United States, Congress, Hollywood, — U.S, North, Russian, Washington ,, Belarus, Minsk, Bolivia, Vienna, Ukrainian, Donbas, Alaska, NATO, Eastern Europe, Saint Petersburg, China, Xinjiang, Soviet Union, Republic, Crimea, Taiwan, Idlib, Syrian Arab Republic, Turkey
Software startup Sprinklr targets $5 billion valuation in U.S. IPO
  + stars: | 2021-06-14 | by ( Reuters Staff | ) sentiment -1.00   time to read: +1 min
(Reuters) - Software startup Sprinklr said on Monday it was looking to raise as much as $380 million through a U.S. initial public offering (IPO), targeting a valuation of about $5 billion. The company, whose customers include Microsoft Corp and McDonald’s Corp, said in a regulatory filing it planned to sell 19 million shares priced between $18 and $20 per share. The company’s revenue rose 19% to $111 million in the three months ended April 30, 2021. Its net loss, however, widened to $14.7 million from $11.2 million in the period. Morgan Stanley, J.P. Morgan, Citigroup, Barclays and Wells Fargo Securities are the lead underwriters for the offering.
Persons: Ragy, Morgan Stanley, J.P Organizations: Reuters, U.S, Microsoft Corp, McDonald’s, New York Stock Exchange, Citigroup, Barclays, Wells, Wells Fargo Securities, underwriters Locations: New Jersey, Morgan, Wells Fargo
The E3 gaming expo kicked off on Saturday and runs until Tuesday, when Nintendo is expected to showcase its new releases. Microsoft, Ubisoft and Square Enix were among the big publishers that presented over the weekend. Still, E3 is often used as a platform for major players to drum up hype for their new blockbusters. Microsoft teases StarfieldThe biggest reveal of the weekend was undoubtedly Starfield, an upcoming sci-fi epic from Microsoft's Bethesda. But a big surprise from the Ubisoft showcase was a game based on James Cameron's 2009 sci-fi film "Avatar."
Persons: Todd Howard, Starfield, Christian Petersen, Geoff Keighley, exclusives, Jack Sparrow, Giancarlo Esposito, James Cameron's, It's, Tom Clancy's, Mario, Ubisoft's, Rabbids Organizations: Getty, Nintendo, Microsoft, Ubisoft, Enix, Sony, Microsoft's Bethesda, ZeniMax Media, Bethesda, Sunday, AAA, PlayStation, Forza Horizon, Netflix, Pirates, Pandora, Rainbow Locations: Microsoft's, Caribbean, French, Hope
Some Microsoft employees slept in the company's data centers during the pandemic, an exec said. Another Microsoft exec previously told CNBC the company provided staff transport to data centers. Employees at Microsoft data centers sometimes slept on site during the pandemic, according to an executive at the tech giant. For some Microsoft employees in technical roles, remote working proved impossible. These included some staff at sites housing servers for Microsoft's online services, including Microsoft Teams, CNBC reported.
Persons: Kristen Roby Dimlow, Morgan Stanley, they'd, Read, Noelle Walsh, Satya Nadella Organizations: Microsoft, CNBC, Microsoft Teams, Microsoft's Cloud Operations, Innovation Locations: New York City
"I predict we'll see more and more organizations embrace asynchronous work structures to facilitate healthier communication habits and encourage focused, deep work," Collin said. Asana is also embracing asynchronous video tools through a recently announced partnership with Vimeo . But deep integrations between various tools can decrease that need and help enable asynchronous work, said Asana's chief product officer Alex Hood. "There's a massive opportunity for us to continue to create seamless collaboration experiences and integrations like this that make remote work easier and more viable," he said. Dropbox, too, has created a toolkit for managers as it allows permanent remote work.
Persons: Slack, Gurbuz, Mathilde Collin, Collin, Asana, it's, Stewart Butterfield Craig Barritt, Christina Janzer, Janzer, Alex Hood, we're, Hood, Rich Wong, That's, Shruti Gandhi, Jake Saper, Saper, Integrations, Array's Gandhi, Dropbox, Alastair Simpson, Skye Gould, VCs, Maze, Atlassian's JIRA, Dropbox's Simpson, Atlassian, Scott Farquhar, It's, Farquhar, Mathilde Collin Front, Front's Collin Organizations: Software, Microsoft, Communication, Cisco Webex, Vimeo, Ventures, Company, Front Locations: Slack, Asana, Dropbox
Here are Monday's biggest analyst calls of the day: Wendy's, Microsoft, FedEx, Peloton, Tesla & morePublished Mon, Jun 14 2021 8:29 AM EDT
Organizations: Microsoft, FedEx
U.S. stock futures were flat Monday after the S&P 500 eked out another record close Friday. The S&P 500 rose 0.4% for the week, notching a three-week winning streak. The Nasdaq 's gain Friday put the tech-heavy index within 0.5% of its record close in late April. The Dow 's slight advance Friday inched the 30-stock average less than 1% closer to last month's record close. (CNBC)AstraZeneca's (AZN) Covid vaccine has a favorable risk/reward profile for all age groups and particularly for those 60 years and older, according to the head of the European Medicines Agency's Covid-19 task force.
Persons: Dow, Bitcoin, Elon Musk, Tesla, Steve Burns, Julio Rodriguez, Lordstown, Novavax, Marco Cavaleri, Boris Johnson, Joe Biden, Biden, Donald Trump, Vladimir Putin, Naftali Bennett, Benjamin Netanyahu, Netanyahu, Jeff Bezos, Mark, Ernie ’, Bert ’ Organizations: Nasdaq, Dow, CNBC, bitcoin, Lordstown Motors, Biotech, FDA, European Medicines, NATO, Sunday, Royal, Shell, Reuters, Washington, Nintendo, Microsoft, Ubisoft, Enix, Origin, Amazon, Shepard Locations: Mexico, India, Covid, Belgium, Brussels, China, Russia, United States, Europe, Geneva, Switzerland, Texas
U.S. Supreme Court revives LinkedIn bid to shield personal data
  + stars: | 2021-06-14 | by ( Andrew Chung | ) + 0.00   time to read: +3 min
The justices threw out a lower court ruling that had barred LinkedIn from denying hiQ access to the information that LinkedIn members had made publicly available. It sued in federal court, accusing LinkedIn of anti-competitive conduct, and a federal judge in 2017 granted its request for a preliminary injunction against LinkedIn. Explaining its stance, hiQ has saidpublic data must remain public and innovation on the internet should not be stifled by anti-competitive hoarding of public data by a small group of powerful companies. LinkedIn told the Supreme Court that hiQ's software "bots" can harvest data on a massive scale, far beyond what any individual person could do when viewing public profiles. LinkedIn in April said that some of the publicly viewable data of its users had been scraped and posted for sale.
Persons: hiQ Organizations: U.S, Supreme, Monday, Microsoft, LinkedIn Corp, hiQ Labs, Computer, San, Circuit, LinkedIn, Thomson Locations: San Francisco, hiQ's
Watch CNBC's full interview with Microsoft gaming chief Phil Spencer
  + stars: | 2021-06-14 | by ( ) + 0.90   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Microsoft gaming chief Phil SpencerPhil Spencer, Microsoft gaming chief and Xbox head, joins 'Tech Check' to discuss his vision for mainstream gaming five years from now, the changing video game ecosystem and the lessons learned from E3.
Persons: Phil Spencer Phil Spencer Organizations: Microsoft
Microsoft's gaming head on video game ecosystem
  + stars: | 2021-06-14 | by ( ) + 0.84   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicrosoft's gaming head on video game ecosystemPhil Spencer, Microsoft gaming chief and Xbox head, joins 'Tech Check' to discuss his vision for mainstream gaming five years from now, the changing video game ecosystem and the lessons learned from E3.
Persons: Phil Spencer Organizations: Microsoft
5 books Bill Gates recommends for your summer reading
  + stars: | 2021-06-14 | by ( Catherine Clifford | ) + 0.00   time to read: +10 min
"Whatever the reason, most of the books on my summer reading list this year touch on what happens when people come into conflict with the world around them," Gates writes. As the standard of living rises, population growth levels off and people start devoting resources to preserving and cleaning up the environment," Gates writes. "Obama makes it clear the positives of the job—especially the opportunity to make lives better— outweigh the negatives," Gates writes. "My first big takeaway is that one of GE's greatest apparent strengths was actually one of its greatest weaknesses," Gates writes. "It turns out that culture of making the numbers at all costs gave rise to 'success theater' and "chasing earnings,'" Gates writes.
Persons: Bill Gates, everyone's, Gates, I've, There's, Elizabeth Kolbert, Kolbert, Elizabeth, Barack Obama Gates, Barack Obama's, Obama isn't, Osama bin Laden, Obama, I'd, Thomas Gryta andTed Mann, Electric's, Thomas Gryta, Ted Mann, Richard Powers, Matt Richtel, Pulitzer, Richtel, Jason Greenstein, Paul Allen, Jason Greenstein's, Linda Segre, Melinda French Gates, Bill Gates's Organizations: General, GE, Microsoft, Wall Street, Wall, Investors, Elegant Defense, New York Times, The New York Times Locations: Richtel
A not-so-subtle message was highlighted throughout: Play all of these games on Xbox Game Pass. Of the 30 games shown, 27 will be available on Microsoft's Xbox Game Pass service. During Microsoft's big annual Xbox presentation on Sunday, there was one clear message: If you don't already have a subscription to the Netflix -like game service Xbox Game Pass, you're going to want it sooner or later. Of the 30 games shown, 27 are coming to the Xbox Game Pass service, and many will arrive at launch. Microsoft has been planting the seeds leading to Game Pass' wild success since it first debuted in 2017.
Persons: Phil Spencer, Ben Gilbert Organizations: Netflix, Game, Xbox, Microsoft, PlayStation, Twitter
In El Salvador's bitcoin beach town, digital divide slows uptake
  + stars: | 2021-06-14 | by ( ) + 0.00   time to read: +5 min
The El Salvadoran beach town of El Zonte is visibly poor, with dirt roads and a faulty drainage system. President Nayib Bukele cited Bitcoin Beach as inspiration for his push to adopt the cryptocurrency nationally. She rarely uses bitcoin, she says, because like many in the town, her battered smartphone struggles with the payments app. Then there is the internet connection, notoriously patchy in rural places like El Zonte, which is 49 km (30 mi) southwest of San Salvador, the capital. Despite the barebones infrastructure, three young Salvadorans in 2019 began the Bitcoin Beach project backed by Californian Michael Peterson, after an "anonymous donation" of bitcoin.
Persons: El Zonte, Zulma Rivas, Nayib Bukele, Bitcoin, Rivas, El Salvador, Oscar Picardo, University of Francisco Gavidia, Picardo, Dania Gonzalez, Michael Peterson, Peterson, Bukele, bitcoin, Nic Carter, Jack Mallers, Mallers, Renato Salazar, Salazar, Blanca Ponce, Ponce Organizations: El, Network, Reuters, Microsoft, Interamerican Development Bank, University of Francisco, Education, Bitcoin, Salvadorans, Salvadoran, Central, Thomson Locations: El Salvadoran, El, San Salvador, Latin America, Caribbean, Honduras, El Salvador's, U.S, El Zonte, United States, El Salvador, Bitcoin Beach, Central American
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