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REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsLONDON, Oct 11 (Reuters) - Investors expect hedge funds to produce higher returns with the prospect of interest rates staying higher for longer, a BNP Paribas [RIC:RIC:BNPPL.UL] investor survey showed on Wednesday. Investors now expect hedge funds to return an average of 9.75% annually within an average of 19 months, up from 6.85%, according to the survey. However, hedge funds themselves think this will take longer, up to 29 months, the survey showed. BNP Paribas said historical evidence shows hedge funds tend to perform well in higher and stable interest rate environments and less so when rates are lower. BNP Capital Introduction Group surveyed 82 hedge fund managers in what it called the "summer" of 2023.
Persons: Carlo Allegri, Michael Oliver Weinberg, , , Weinberg, Nell Mackenzie, Dhara Ranasinghe, Kirsten Donovan Organizations: New York Stock, REUTERS, BNP, RIC, Investors, Group, Thomson Locations: Manhattan, New York City , New York, U.S
Additionally, the lawsuit by the Nashville member of the “Tennessee Three” contends his constitutional due process rights were infringed upon by the expulsion proceedings. Jones, Pearson and Johnson were propelled into the national spotlight. They said the new House rules promote civility, respect and accountability. On the day the House voted to silence Jones, Sexton had warned Jones about calling a Republican's bills “reprehensible,” “asinine,” and “insulting." In addition to the limits on debate, House Republicans also instituted a ban on the public holding signs during floor and committee proceedings.
Persons: Justin Jones, Jones, Cameron Sexton, , Justin Pearson, Gloria Johnson, Pearson, Johnson, Amy Wilhite, hadn't, Sexton, Bill Lee, , Jerry Martin, Eric Holder, Holder Organizations: — Tennessee Democratic, Nashville, Tennessee, Black Democrat, Republicans, Democratic Rep, Republican Gov, Covenant School, Glock, Republican, U.S Locations: Tenn, Nashville, Tennessee
Greg Lippmann of "The Big Short" fame sees a soft landing as unlikely, he told Bloomberg TV. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementGreg Lippmann, founding partner at LibreMax Capital, is focused on resilient assets as the chances of a soft landing are slim. That comes as high interest rates, weakened credit availability, and an office vacancy uptrend have all become mounting pressures on commercial real estate. But other ones are going to turn out to be medium to bad," he told Bloomberg TV, adding that, "And you just buy the bad at the horrible pricing.
Persons: Greg Lippmann, , Lippmann, Ryan Gosling, It's, Rob Arnott Organizations: Bloomberg, Service, LibreMax
UK's Mothercare says it expects to complete refinancing shortly
  + stars: | 2023-09-22 | by ( ) www.reuters.com   time to read: +1 min
Sept 22 (Reuters) - Mothercare (MTC.L) expects to complete a refinancing shortly and will remain in discussions with stakeholders and financing partners to ensure adequate financing, the British baby products retailer said on Friday. Mothercare also posted a 44% drop in its full-year adjusted core profit to 6.7 million pounds ($8.21 million), which sent the London-listed company's stock tumbling 15.6% in early trade. The company has been struggling with the unprecedented demand shock caused by the pandemic, the Russia-Ukraine conflict and high interest rates. Its total cash was 7.1 million pounds as of March 25, down from 9.2 million pounds, a year ago. ($1 = 0.8159 pounds)Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
Persons: Mothercare, Daniel Le Vesconte, Aatrayee Chatterjee, Savio D'Souza Organizations: Thomson Locations: London, Russia, Ukraine, Bengaluru
"But in the absence of that sorely-needed action, the Office of Gun Violence Prevention along with the rest of my Administration will continue to do everything it can to combat the epidemic of gun violence that is tearing our families, our communities, and our country apart,” he said. Democrats largely favor stricter gun laws as a way to reduce deaths from gun violence at schools and in cities across the country. Establishing a new office of gun violence prevention has long been on the wish list of anti-violence advocacy groups that were happy with Biden's record pushing for reforms but wanted the White House do more. White House adviser Stefanie Feldman, Biden's staff secretary, will serve as the director of the office, and gun safety advocates Greg Jackson and Rob Wilcox will join the White House as deputies. “We are so pleased that the Biden administration has officially created an Office of Gun Violence Prevention," said Kris Brown, president of Brady, an advocacy group.
Persons: Cheney Orr, Joe Biden, Kamala Harris, “ I’ll, Biden, , Harris, Stefanie Feldman, Greg Jackson, Rob Wilcox, Feldman, Kris Brown, Brady, Jeff Mason, Dan Whitcomb, Leslie Adler, Deepa Babington Organizations: Chamber, Covenant School, Tennessee State Capitol, REUTERS, Rights, Republicans, National Rifle Association, Democrats, Safer Communities, White, Gun, FEMA, Federal Emergency Management Agency, Thomson Locations: Nashville , Tennessee, U.S
NASHVILLE, Tenn. (AP) — For nearly a week, families whose lives were upended by a Nashville elementary school shooting took turns sharing dark details to Tennessee lawmakers. Meanwhile, families have waded into the legislative process, uncovering and reliving personally painful details before lawmakers — privately, publicly or both — with mixed results. The inaction this year in Tennessee was markedly different than how Florida reacted five years ago to a massive school shooting. Parents offered similar pleas in Tennessee last month during a brief special legislative session called by Republican Gov. For many parents, it signaled they would likely retell and relive these dark moments for many more months, as they pledged to seek change next legislative session and in the 2024 statehouse elections.
Persons: , , Melissa Alexander, reliving, , Melissa Brymer, Marjory Stoneman, “ I’ve, Max Schachter, Alex, I’m, Kimberly Mata, Rubio, Lexi, ” Mata, Bill Lee, Jeremy Faison, Sarah Shoop Neumann, audibly, Chris Todd, Becky Hansen, sobbed, Abby McLean, ” McLean, ” Alexander, Paul Weber Organizations: Covenant School, Republican, General Assembly, Democratic, UCLA, Duke University National Center for, Florida's Republican, Marjory Stoneman Douglas High School, Parkland, Robb Elementary School, Texas Capitol, Texas House, Republican Gov, Capitol, Covenant, House Republicans, Senate, Associated Press Locations: Tenn, Tennessee, United States, Florida, Parkland, Texas, Uvalde, Austin , Texas
A new box suddenly appears and there is Winfrey, holding Hill's novel in front of her. “I have an idea, why not choose it for Oprah's book club?” she says. Book!” Winfrey tells him, adding that the novel made her nostalgic for Chicago, where she used to film her talk show. OprahDaily.com, the online hub of Winfrey's book club, will include additional detail about Hill and his work. Her book club has been such a gift to readers, and includes some of my own literary idols.
Persons: Oprah Winfrey, Winfrey, Nathan Hill, Alfred A ., Hill, , Abraham Verghese's “, Nix ”, she’d, ” Hill Organizations: Alfred A . Knopf, The Associated Press, Knopf, “ Wellness, 102nd, , Los Angeles Times Locations: Chicago
US junk debt deals carry higher guardrails for investors
  + stars: | 2023-09-15 | by ( Matt Tracy | ) www.reuters.com   time to read: +4 min
Twelve high-yield issuers have raised $9.6 billion this week, making it the busiest week since November 2021, according to JPMorgan. This stands in stark contrast to the same period in 2022, when only 25% of a total $81 billion was secured debt, according to Informa Global Markets data. According to rating agency Fitch, junk debt defaults are expected to reach 4.5% of all outstanding U.S. junk debt by the end of 2023, up from 2.8% in July. The extra level of protection and high investment returns are ensuring strong demand for new junk debt. The loans are part of a $9.4 billion debt package - the largest since last year's buyout of Twitter by billionaire Elon Musk.
Persons: Brendan McDermid, Fitch, Anthony Canale, it's, Brian Gelfand, TCW, Goldman Sachs, Elon Musk, Jefferies, Simon, Matt Tracy, Shankar Ramakrishnan, Hugh Lawson Organizations: New York Stock Exchange, REUTERS, JPMorgan, Informa, Reuters, Covenant, ICE, Morningstar, GTCR, KKR, Jefferies, Thomson Locations: New York City, U.S
LONDON, Sept 14 (Reuters) - Global securities regulators have proposed tightening how the leveraged loan market operates to tackle "vulnerabilities" after a prolonged period of low interest rates led to deteriorating standards. Leveraged loans are loans extended to companies that already have high debt, and therefore are at a higher risk of default. Global securities watchdog IOSCO said it had identified "some vulnerabilities in the leveraged loan and collateralized loan obligation markets which may be exacerbated by the behavior of certain participants and market practices." Covenant-lite loans now make up 90% of the leveraged loan market, up from just 1% in 2000, IOSCO said in a public consultation paper on its proposed new guidance. U.S. companies have raised more money in private markets than in public markets in each year since 2009, it added.
Persons: IOSCO, Huw Jones, Mark Potter Organizations: Global, Investors, Thomson
“No Significant Action Taken on TN Gun Laws” read the headline of The Tennessean on Wednesday, the day after the Tennessee General Assembly ended a special legislative session on gun safety. To call that headline an understatement is itself an understatement. Since then, every single day she worries if it will be her last because it almost was. As a mother, I’m going to have to look at my 9-year-old in the eye and tell her nothing. During the special session, which cost Tennessee taxpayers $58,000 a day, Republicans passed no legislation that would have any significant effect on gun violence in the state.
Persons: , Mary Joyce, ” Ms, Joyce, I’m Organizations: Tennessee General Assembly, Covenant School, Covenant Families Action Locations: Tennessee
[1/4] Tennessee State Senators on the chamber floor and advocates for gun law reform in the gallery pray during a special session on public safety to discuss gun violence in the wake of the Covenant School shooting, in Nashville, Tennessee, U.S., August 29, 2023. REUTERS/Cheney Orr Acquire Licensing RightsAug 29 (Reuters) - A special legislative session in Tennessee called by the state's Republican governor in response to a deadly school shooting ended on Tuesday with no progress on gun safety laws, capped by a brief scuffle between opposing lawmakers. Jones and Pearson, both of whom are Black members of the predominantly white House, have been outspoken proponents of new gun laws to help ease violence in the urban areas they represent. That sentiment was not shared by Sarah Shoop Neuman, the parent of a Covenant student who lobbied lawmakers for new gun laws. After the session ended, she told reporters it was difficult for her to comprehend that children were murdered at school, yet lawmakers "took no meaningful action."
Persons: Cheney Orr, Bill Lee, Cameron Sexton, Justin Jones, Justin Pearson, Jones, Pearson, Lee, Sarah Shoop Neuman, Brad Brooks, Donna Bryson, Leslie Adler Organizations: Tennessee State Senators, Covenant School, REUTERS, Republican, The Covenant School, U.S, U.S . Constitution, Democratic, Covenant, Thomson Locations: Nashville , Tennessee, U.S, Tennessee, Nashville, U.S ., Longmont , Colorado
Tennessee legislature holds gun safety special session
  + stars: | 2023-08-29 | by ( ) www.reuters.com   time to read: 1 min
[10/17]Read moreDemocratic Tennessee State Representative Justin Pearson chants with protesters after he and other Democratic representatives walked out of the house chamber after Democratic State Representative Justin Jones was silenced by a procedural move during a special session on public safety to discuss gun violence in the wake of the Covenant School shooting, in Nashville, Tennessee, U.S., August 28....NASHVILLE, TN, UNITED STATES
Persons: Justin Pearson, Justin Jones Organizations: Read, Democratic Tennessee State, Democratic, Covenant School, UNITED STATES Locations: Nashville , Tennessee, U.S, NASHVILLE , TN
The city hopes to rectify its history of environmental racism with a new Climate Equity Plan. It was also the only place Black people were allowed to purchase housing in the city. For all these reasons, previously redlined neighborhoods suffer from extreme heat. After years of outcry from activists, the city council submitted a new draft of a 10-year plan, titled the Minneapolis Climate Equity Plan, soliciting public comments. Earlier this year, Portland passed its 43-Step Climate Action Plan, which has similar objectives to the Minneapolis plan.
Persons: redlining, George Floyd, Kerem Yucel, CAPA, Tee McClenty, John Vachon, Franklin D, Anthony Potter, there's, Ulla Nilsen, it's, Darlene Pfister, Nilsen, Jacob Frey, MN350, " Nilsen, Jerry Holt, McClenty Organizations: Minneapolis, Equity, Service, George Floyd Memorial, Getty, Loan Corporation, District, Roosevelt's, City Hall, Star Tribune, Minneapolis Climate Equity Locations: Minneapolis, Minnesota, Kerem, AFP, homeownership, Negro, Portland , Oregon, Portland
MILAN, Aug 24 (Reuters) - It's hard to be bullish about real estate in an environment of sharply higher interest rates. Two years of steep falls have made European property a short-seller favourite as sector valuations and investor positioning plunged to levels last seen during the 2008 global financial crisis. A gauge of European real estate shares (.SX86P) has halved in value to about $131 billion since 2021, but the mood shifted in July as earnings expectations improved. "Things aren't great for real estate companies and that's why they are trading at a huge discount. Meanwhile, BlackRock's iShares European Property ETF (IPRP.L) has seen a 10% surge in inflows from late February, according to data on its website.
Persons: Gerry Fowler, Zsolt Kohalmi, BlackRock's, Natixis, Banks, Charles de Boissezon, Kohalmi, UBS's Fowler, Danilo Masoni, Sinead Cruise, Elaine Hardcastle Organizations: MILAN, European Equity, UBS, European Central Bank, Pictet, Advisors, P Global Market Intelligence, Property, Bank of, Societe Generale, Equity, Thomson Locations: Europe, London, U.S
[1/5] Protesters gather near the Tennessee State Capitol building ahead of a special session on public safety to discuss gun violence in the wake of the Covenant School shooting in Nashville, Tennessee, U.S., August 21, 2023. REUTERS/Seth Herald Acquire Licensing RightsAug 21 (Reuters) - Tennessee lawmakers on Monday opened a special session focused on public safety that was sparked by a deadly school shooting earlier this year, as hundreds of protesters marched on capitol grounds demanding change. Hundreds of protesters demanding tougher gun laws arrived at the Tennessee capitol in Nashville. Lee called the special session in response to the murder of three children and three staff members at The Covenant School in March in Nashville. The shooting triggered intense protests at the state capitol and led to the expulsion of two Democratic lawmakers after they helped lead protests from the House floor.
Persons: Bill Lee, Lee, Nashville Mayor John Cooper, Brad Brooks, Mary Milliken, Stephen Coates Organizations: Protesters, Tennessee State Capitol, Covenant School, REUTERS, Seth, Monday, Republican, Constitutional, The Covenant School, Nashville Mayor, Thomson Locations: Nashville , Tennessee, U.S, Tennessee, Nashville, Longmont , Colorado
[16/23]A person gestures in the gallery of the House Chamber during a special session on public safety to discuss gun violence in the wake of the Covenant School shooting, at the Tennessee State Capitol, in Nashville, Tennessee, August 22. REUTERS/Cheney OrrNASHVILLE, TN, UNITED STATES
Persons: Cheney Orr Organizations: Chamber, Covenant School, Tennessee State Capitol, REUTERS, UNITED STATES Locations: Nashville , Tennessee, Cheney Orr NASHVILLE, TN
Byju’s blowup makes its investors look bad
  + stars: | 2023-08-07 | by ( Pranav Kiran | ) www.reuters.com   time to read: +4 min
REUTERS/Adnan Abidi/File Photo/File PhotoBENGALURU, Aug 7 (Reuters Breakingviews) - Byju’s says it provides learning programs to over 150 million students. The biggest lesson may be for the Indian education giant’s global investors including Prosus (PRX.AS) and Peak XV, formerly part of Sequoia, who watched founder power run amok in a country they have pinned high hopes on. But so long as the blowup at the hot startup once valued at $22 billion goes from bad to worse, its backers will struggle to create enough distance. For early supporter Peak XV Partners, the mess comes at a sensitive time, hot on the heels of announcing a separation from its U.S. parent. Representatives of the Amsterdam-listed investor and Peak XV Partners, formerly Sequoia’s India unit, both quit Byju’s board in June.
Persons: Adnan Abidi, Byju Raveendran, Davidson, Byju’s, Reuters Breakingviews, Prosus, Una Galani, Thomas Shum Organizations: REUTERS, Reuters, Bloomberg, XV Partners, HK, Thomson Locations: New Delhi, India, BENGALURU, Sequoia, U.S, Byju’s, Amsterdam, China, Delaware
Did the world need Arizona Iced Tea-branded Adidas sneakers marketed for 99 cents? Did they attract so many potential buyers that the New York Police Department had to shut the sale down at the pop-up store selling them? The “Barbie” marketing team absolutely understands this, and the absurd brand-collaboration drops have spread with the speed of the 1854 cholera outbreak in London. There’s a real-world Barbie dream house on Airbnb, Barbie Krispy Kreme doughnuts, Barbie rugs and a Barbie Xbox. Surprisingly, there is no Barbie Pepto Bismol, which seems like a natural fit in terms of existing I.P.
Persons: Robert Oppenheimer, Taylor Swift, Barbie, There’s, Oppenheimer, Barbie ”, “ Oppenheimer, launders Organizations: “ Raiders, Adidas, New York Police Department Locations: Arizona, London
The Garland spoof account tweeted on July 13: “After a thorough investigation, The DOJ has indicted the police officers who responded to Christian Covenant School in Nashville. There are no credible news reports to corroborate the claim that responding officers are facing a DOJ indictment. A search for news releases on the Metropolitan Nashville Police Department site does not show any statement on any indictment of its officers regarding the school shooting (here). Similarly, searching on the U.S. Department of Justice (DOJ) site does not show any press releases related to the Nashville school shooting (tinyurl.com/35pbmc4r). There is no evidence that responding officers in the Nashville school shooting are facing an indictment, and the claim stems from a Twitter account labeled as parody.
Persons: Aubrey Hale, “ Merrick Garland, Audrey Elizabeth Hale, General Merrick Garland, Read Organizations: Nashville, DOJ, Christian Covenant School, Facebook, Covenant School, Reuters, Covenant, Metropolitan Nashville Police Department, U.S . Department of Justice Locations: Nashville, Nashville , Tennessee
UK's Currys drops dividend on uncertain economic outlook
  + stars: | 2023-07-06 | by ( James Davey | ) www.reuters.com   time to read: +2 min
The group also reported a 38% fall in full year profit, hurt by the weak performance of its Nordics business. Accordingly, we're being prudent in our planning, and in further strengthening our balance sheet," CEO Alex Baldock said. Baldock said Currys had taken actions to maximise operating cashflow through margin improvement, delivering cost savings and reducing capital expenditure. Nevertheless, the economic outlook remains uncertain in our main markets," Currys said. The group reported a statutory loss before tax of 450 million pounds for the year, driven by a previously announced non-cash goodwill impairment of 511 million.
Persons: we're, Alex Baldock, Baldock, Currys, Mike Ashley's Frasers, Frasers, James Davey, Sarah Young, Jason Neely Organizations: Consumers, Revenue, Ireland, Thomson Locations: British, Europe, Currys
June 29 (Reuters) - The U.S. Supreme Court on Thursday struck down race-conscious admissions programs at Harvard University and the University of North Carolina, effectively prohibiting affirmative action policies long used to raise the number of Black, Hispanic and other underrepresented minority students on campuses. "Harvard and UNC admissions programs cannot be reconciled with the guarantees of the Equal Protection Clause," Roberts wrote, referring to the constitutional provision. Affirmative action had withstood Supreme Court scrutiny for decades, most recently in a 2016 ruling involving a white student, backed by Blum, who sued the University of Texas after being rejected for admission. Jackson did not participate in the Harvard case because of her past affiliation with the university. The ruling did not explicitly say it was overruling landmark precedent upholding affirmative action.
Persons: Constitution's, Edward Blum, Roe, Wade, John Roberts, Roberts, Blum, Donald Trump, Trump, Thursday's, Joe Biden's, Ketanji Brown Jackson, Jackson, Sonia Sotomayor, Elena Kagan, Sotomayor, Peter Hans, Hans, Clarence Thomas, Bollinger, Andrew Chung, Will Dunham Organizations: U.S, Supreme, Harvard University, University of North, Harvard, UNC, Fair, Universities, University of Texas, Republican, America, Liberal, Jackson, Asian, Civil, University of North Carolina, Thomson Locations: University of North Carolina, U.S, States, Black, America, New York
The Supreme Court ruled Thursday that affirmative action policies at Harvard and the University of North Carolina that consider a student's race for college admissions are unconstitutional. The court's decision is not surprising but "disappointing" nonetheless, says Julian Taylor, a rising junior and member of the Affirmative Action Coalition at UNC Chapel Hill. The CEO and founder of the sustainability brand Blueland has been vocal about the importance of maintaining affirmative action policies at top colleges. Research has shown that the removal of affirmative action has led to declines in minority admissions at universities. Overturning 40-plus years of affirmative action in colleges
Persons: Edward Blum, Blum, Julian Taylor, Brown, Taylor, John Roberts, Chancellor Kevin Guskiewicz, Sarah Paiji Yoo, wouldn't, Claudine Gay Organizations: U.S, Supreme, of Harvard College, University of North, Harvard, Fair, UNC, United States, Affirmative, Coalition, UNC Chapel Hill, UNC Affirmative, Chapel, ACT, Harvard Business School, CNBC Locations: University of North Carolina, Washington ,, Chapel Hill
China Accepts the New Indo-Pacific Reality
  + stars: | 2023-06-20 | by ( Walter Russell Mead | ) www.wsj.com   time to read: 1 min
Walter Russell Mead is the Ravenel B. Curry III Distinguished Fellow in Strategy and Statesmanship at Hudson Institute, the Global View Columnist at The Wall Street Journal and the James Clarke Chace Professor of Foreign Affairs and Humanities at Bard College in New York. He is also a member of Aspen Institute Italy and board member of Aspenia. Before joining Hudson, Mr. Mead was a fellow at the Council on Foreign Relations as the Henry A. Kissinger Senior Fellow for U.S. Foreign Policy. He has authored numerous books, including the widely-recognized Special Providence: American Foreign Policy and How It Changed the World (Alfred A. Knopf, 2004). Mr. Mead’s next book is entitled The Arc of A Covenant: The United States, Israel, and the Future of the Jewish People.
Persons: Walter Russell Mead, Curry, James Clarke Chace, Mead, Henry A, Alfred A ., Mead’s Organizations: Hudson Institute, Wall Street Journal, Foreign Affairs, Humanities, Bard College, Aspen Institute, Hudson, Council, Foreign Relations, Kissinger, U.S . Foreign, Providence, Alfred A . Knopf, Jewish People Locations: New York, Aspen Institute Italy, United States, Israel
The parents of the assailant who killed six people at a Nashville Christian school in March will transfer legal ownership of the writings their child left behind to the families of roughly 100 students, providing unexpected support to those families’ efforts to prevent the release of the documents. The surprise decision, outlined in a Tennessee courtroom on Thursday, could prove crucial in an increasingly fierce legal battle over whether the writings should be made public to shed light on the shooter’s motivations or kept private to shield the victims from further pain. The lawyer for the shooter’s parents, David Raybin, did not say in court how or why they had come to the decision. But speaking to reporters, he acknowledged that it strengthened the argument that the families should be allowed to participate in a lawsuit aimed at forcing the release of the writings as a matter of public record. The parents of students at the Covenant School, along with the school itself and the adjoining church, have said the writings should never be released, citing fears of inspiring another mass shooting and further traumatizing their children.
Persons: David Raybin Organizations: Nashville Christian, Covenant School Locations: Tennessee
When Joan Rivers died in 2014, ending one of the greatest careers in modern comedy, several groups were interested in acquiring her archives, which included a meticulously organized collection of 65,000 typewritten jokes. Her daughter, Melissa Rivers, recalled a conversation with a representative from the Smithsonian Institution who wanted the catalog of jokes but said it would not be on permanent display. Her mind instantly went to the final tracking shot of “Raiders of the Lost Ark,” in which the golden Ark of the Covenant is locked inside a crate and placed in a vast warehouse with hundreds of other crates. “I couldn’t do that because so much of who she was is in those files,” Melissa Rivers told me on a video call from Los Angeles. The fact that the jokes will be accessible is only one of the reasons for Melissa Rivers’s decision.
Persons: Joan Rivers, Melissa Rivers, Rivers, George Carlin, Carl Reiner, Melissa Rivers’s Organizations: Smithsonian Institution, “ Raiders, National Comedy Center Locations: Los Angeles, Jamestown, N.Y
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