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Tokyo CNN —Kudos to you if you can speak perfect Japanese and order food at a neighborhood sushi bar in Tokyo. But overtourism – fueled by a combination of pent-up post-Covid demands (aka “revenge travel”) and the weak local currency – has recently prompted restaurants in the country to consider the merits of differential pricing. This year, spurred by a weak yen that has fallen to its lowest level against the dollar in decades, the tourists are back - in big numbers. “Some people say, ‘We don’t do this in our country.’ But think about how bad Japanese people’s English skills are. As the less-expensive resident prices are often written in the local language, foreign tourists may not even know they paid more.
Persons: , , Shogo Yonemitsu, ” Yonemitsu, Elisa Chan, Tamatebako, Rinka Tonsho, CNN Yonemitsu, isn’t, That’s, CNN Shuji Miyake, Phoebe Lee Organizations: Tokyo CNN, Mount Fuji, UNESCO, Chinese University of Hong, CNN Locations: Tokyo, Japan, Shibuya, Mount, Hokkaido, Himeji, In Venice, Tokyo’s Tsukiji
Revolut cards is seen in this illustration photo taken in Krakow, Poland on March 29, 2024. British fintech startup Revolut said on Thursday that it had received a banking license with restrictions from the U.K.'s Prudential Regulation Authority, bringing to an end a three-year wait. The London-headquartered firm now has time to build up its U.K. banking infrastructure and operations ahead of officially launching. Revolut first applied for its banking license in 2021, but it has faced lengthy delays. A U.K. banking license will allow Revolut to take customer deposits and also issue products like loans and credit cards.
Persons: Francesca Carlesi, Revolut, Revolut's financials, — CNBC's Ryan Browne Organizations: Prudential, Authority, Barclays, CNBC Locations: Krakow, Poland, British, London, U.K
Grace, a 29-year-old publicist in New York, has regularly used a slew of dating apps for more than four years, with little luck. Among millions, a consensus is forming: Dating apps suck so bad that they might even be deliberately keeping us from finding love. In Tokyo, the city government is even releasing its own dating app, part of a campaign called Tokyo Futari Story ("futari" means couple). Bouke de Vries, an associate professor of philosophy at Ghent University in Belgium who's studied dating apps, argues that state-run dating apps are at least in theory better positioned to help people find partners without spending too much money or time in the process. Last year, Japan's most popular dating app, the Match Group-owned Pairs, began collaborating with several prefectures and cities.
Persons: Grace, She's, it's, who'd, Tinder, Damona Hoffman, Bianca Stelian, Ryan Clarkson, , They've, Ali Jackson, Bouke de, cupid, Bouke de Vries, Belgium who's, de Vries, Omar Minami, Cheryl Drury, They're, Francesca Katayama, Junko Yamada, Yamada, Elon Musk, I'm, Justin Garcia, Garcia, what's, there's, Eric Adams, Adams, Eve Organizations: Raya, Forbes, League, Match, Children, Families Agency, Ghent University, Government, National, Insurance, Rissho University, Department of Health, Human Services, Conservatives, Trump, PAC, Indiana University, Kinsey Institute, Match Group, Republican, Kinsey, New, New York City — Locations: New York, New York City, Japan, Australia, America, Saitama, Tokyo, Bouke de Vries, Belgium, Singapore
Cryptocurrencies fell one day after a reversal in technology stocks pushed the S&P 500 and Nasdaq Composite to their worst day since 2022. Disappointing quarterly earnings from from Alphabet and Tesla late Tuesday weighed on the rest of the tech sector as investors rotated out of high-risk assets, including cryptocurrencies. Gox repayment schedule that has resulted in a persistent round of bitcoin selling pressure this month, he added. Meanwhile, ether fell 6% to $3,172.59 as newly-launched ether exchange-trade funds traded for a third day. "What is happening is the same as when spot bitcoin ETFs were launched back in January," said Yuya Hasegawa, crypto market analyst at Japanese bitcoin exchange Bitbank.
Persons: Cryptocurrencies, Bitcoin, Joel Kruger, Yuya Hasegawa, bitcoin Organizations: Nasdaq, Metrics, LMAX, ETH Locations: outflows
Two Chinese and two Russian long-range bombers were tracked flying over international waters near Alaska and U.S. and Canadian fighter jets were sent up in response, their joint aerospace command said. The Chinese and Russian military activity Wednesday was not seen as a threat, the North American Aerospace Defense Command, known as NORAD, said. China and Russia confirmed Thursday that they had conducted a joint air patrol over the Bering Sea, which divides Russia and Alaska. Russian fighter jets and strategic bombers were joined by Chinese strategic bombers in the exercises, which lasted more than five hours, the ministry said. A photo released by the Russian Defense Ministry showed a Russian Su-30 fighter jet escorting a Chinese bomber.
Persons: Vladimir Putin, Xi Jinping, Zhang Xiaogang, Zhang Organizations: Sputnik, of, North American Aerospace Defense Command, NORAD, Russian Defense Ministry, China's Defense Ministry, North American U.S . Air Defense, Japan's Defense Ministry, Coast Guard Locations: Russian, Tiananmen, Beijing, Alaska, U.S, Canadian, China, Russia, Bering, North America, Pacific, Chukchi, Bering Strait, Japan, Korea
Yen rises as carry trades unwind, risk sentiment takes a hit
  + stars: | 2024-07-25 | by ( ) www.cnbc.com   time to read: +2 min
The yen drew support from unwinding carry trades on Thursday ahead of next week's Bank of Japan (BOJ) policy meeting and as a rotation out of megacap growth stocks dampened risk appetite broadly and provided some safe haven bids. "It's also the fact that risk sentiment is deteriorating, and that's helped (the yen) as well... You've got unwind in the tech trade, you've got unwind in the carry yen trade...you've got the Nikkei, as well, unwinding." Japanese Finance Minister Shunichi Suzuki and top currency diplomat Masato Kanda both refrained from commenting on the yen's recent sharp rise. The New Zealand dollar similarly fell 0.24% to $0.5915.
Persons: Tony Sycamore, It's, that's, You've, you've, Shunichi Suzuki, Masato Kanda, Sterling Organizations: week's Bank of Japan, New, Reuters, IG, Nikkei, Japanese Finance, PMI, Traders, Federal, Australian, New Zealand Locations: New Zealand, U.S, Down
Asia-Pacific markets fell on Wednesday as traders assessed July business activity data from Australia, tech earnings from the U.S. and awaited Japan PMI readings. Late Tuesday, automaker Toyota said it will buyback 806.85 billion yen ($5.17 billion) of its shares from major Japanese banks and insurers, including Tokio Marine , Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group . Heavyweight Samsung Electronics plunged 1.8%, even as Reuters reported that chip giant Nvidia had cleared its chips for use in a processor for the China market. The South Korean electronics company is still grappling with a strike from its largest workers union, with talks on Tuesday yielding no results, according to the National Samsung Electronics Union, which has about 30,000 members. Hong Kong Hang Seng index futures were at 17,474, just marginally higher than the HSI's last close of 17,469.36.
Persons: Topix, Australia's Organizations: Sydney Opera House, Japan PMI, Nikkei, PMI, Toyota, Tokio Marine, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Samsung Electronics, Reuters, Nvidia, National Samsung Electronics Union, Juno Bank . Hong Locations: Asia, Pacific, Australia, U.S, Japan, China, Korean, Juno Bank . Hong Kong
Paris boasts many luxurious five-star accommodations. For a break from the city, consider Chateau de Villette, a late 17th-century estate 40 minutes from Paris by car. France, the birthplace of the Michelin Guide, offers no shortage of luxurious dining, with 630 starred restaurants nationwide, including nine in Paris with three Michelin stars. Le Cinq, in Paris' Four Seasons Hotel George V, serves dishes by award-winning chef Christian Le Squer and wine from a cellar that can hold 50,000 bottles. Other notable options include Restaurant Kei, which fuses Japanese and Western cuisines, and Epicure in Le Bristol Paris, which serves elevated classic French fare.
Persons: Hôtel de Crillon, Karl Lagerfeld, Le, V, Christian Le Organizations: Paris, Ritz, Michelin, Le Bristol Paris, LVMH Locations: Villette, Paris, Versailles, France, Le Bristol
Traditional Chinese is a written form of Chinese used in Taiwan and Hong Kong. Both locations are key business hubs for technology and finance — a factor that attracted DeepL to launch its latest language in those markets. DeepL, one of Europe's high-profile AI companies valued at $2 billion , sells translation software aimed at businesses rather than everyday consumers. German artificial intelligence translation startup DeepL on Wednesday launched traditional Chinese as a language option as it looks to expand its presence in Asia. With the launch of traditional Chinese, the firm is looking to help some of its international customers more effectively communicate with clients or employees in Taiwan or Hong Kong.
Persons: DeepL, Kutylowski, Mark Zuckerberg's Organizations: Wednesday, CNBC, Google, Microsoft, Ventures Locations: Taiwan, Hong Kong, Asia, The Cologne, Germany, Japan, Korea
Read previewChina's once-mighty consumers are holding back on buying as much as they used to at home. But luxury giant LVMH is still spending big on them. LVMH does not break out its sales for China separately. AdvertisementChina's luxury consumers are spending in JapanRich Chinese consumers are not spending as much at home because, post-pandemic, they can travel and spend their money elsewhere, with Japan a top destination. The fluctuations in the yen make it challenging for LVMH to price its products in Japan.
Persons: , Jean, Jacques Guiony, LVMH, Guiony, It's Organizations: Service, Business, Japan Locations: Japan, China, Asia, Japan Rich, Mainland China, Fukuoka
CNN —Rudy Giuliani’s trip to Milwaukee for last week’s Republican National Convention was bankrolled by the media platform started by “My Pillow Guy” Mike Lindell, Giuliani’s lawyer told a bankruptcy court that is scrutinizing the former New York City mayor’s finances. Lindell told CNN on Tuesday that Giuliani is an employee of the media company, but declined to say how much he was being paid for the job, which he said started July 1. Judge Sean Lane of the federal bankruptcy court in White Plains, New York, is expected to issue a ruling any day on how to move forward. Lindell told CNN on Tuesday that he paid for Giuliani’s travel because the former New York mayor was hired on July 1 as a host for Lindell’s right-wing broadcast platform, FrankSpeech TV. Giuliani said he had “no regrets at all” about how he treated Moss and Freeman during the 2020 election.
Persons: Rudy Giuliani’s, , Guy, Mike Lindell, Giuliani’s, Giuliani, Donald Trump, Lindell, Ruby Freeman, Shaye Moss, Sean Lane, ” Lindell, “ It’s, “ We’ve, ” Giuliani, Frank Speech, Gary C, Fischoff, CNN’s Kaitlan Collins, Moss, Biden ”, Hunter Biden, ” “ They’re, Collins, Freeman, Organizations: CNN, Republican National Convention, New, Lindell, RNC, Trump Locations: Milwaukee, New York City, Georgia, Palm Beach , Florida, White Plains , New York, New York
Foreign and defense ministers from Japan and the United States will hold security talks on July 28 that for the first time will cover "extended deterrence", a term used to describe the U.S. commitment to use its nuclear forces to deter attacks on allies. Foreign and defense ministers from Japan and the United States will hold security talks on July 28 that for the first time will cover "extended deterrence," a term used to describe the U.S. commitment to use its nuclear forces to deter attacks on allies. U.S. Defense Secretary Lloyd Austin will also hold three-way talks with his counterparts from Japan and South Korea. The security talks with Japan will also include efforts to deepen cooperation between defense industries and upgrade command structures to improve coordination between their militaries . "These historic 2+2 talks will cement our shift from a focus on Alliance protection to one of Alliance projection," U.S. ambassador to Japan Rahm Emanuel said.
Persons: Pacific Affairs Daniel Kritenbrink, we're, Antony Blinken, Lloyd Austin, Rahm Emanuel Organizations: U.S ., U.S, State, East, Pacific Affairs, U.S . Defense, Japan, United States, Alliance, East Asia, Self Defense Forces Locations: Japan, United States, Washington, Tokyo, U.S, China, Russia, North Korea, East Asia, South Korea, Pacific, Asia
Japan’s Olympic gymnastics team will head into the Paris Games this week without its captain, Shoko Miyata, after she withdrew from the team following an investigation that found she had violated the squad’s code of conduct by smoking and drinking alcohol. In a news conference last week, officials with the Japan Gymnastics Association, which conducted the investigation, announced Ms. Miyata’s withdrawal from the Olympics, saying that “both parties discussed the matter” and that Ms. Miyata had decided not to compete. The Japan Gymnastics Association’s code of conduct forbids drinking or smoking while in official team programs, regardless of age. The legal age for drinking and smoking in Japan is 20; Ms. Miyata is 19. Ms. Miyata allegedly violated the code of conduct on two occasions; once in a private residence in Tokyo, and again in a classroom of the Athlete’s Village of Japan’s National Training Center, according to gymnastics officials.
Persons: Shoko Miyata, , Miyata Organizations: Paris Games, Japan Gymnastics Association, Japan, National Training Center Locations: Japan, Tokyo, Athlete’s
Donald Trump wants a weaker dollar in order to boost exports for US manufacturers. Other ways Trump could weaken the dollar would also risk raising US debt or inflation, Barclays said. AdvertisementDonald Trump's proposed policies run counter to one another, with his plan to increase trade tariffs complicating his intent to weaken the dollar, Ajay Rajadhyaksha of Barclays wrote in the Financial Times. Other options for weakening the dollar exist, but none come without consequences, the strategist noted. He cited alternative plans: raising US debt could help, at the cost of Treasury market volatility and more inflation pressure.
Persons: Donald Trump, Trump, , Donald Trump's, Ajay Rajadhyaksha, Rajadhyaksha Organizations: Barclays, Service, Financial Times, Bloomberg, Republican, America, Trump, Federal Reserve, Treasury Locations: stagflation, Japan
Meta on Tuesday announced the latest version of its Llama artificial intelligence model. Nvidia is a key Meta partner and provides the social networking giant with the computing chips called GPUs to help train its AI models, including the latest version of Llama. For example, Meta said that Llama model announced on Tuesday was trained on 16,000 of Nvidia's H100 graphics processors. But open-source models can cost hundreds of millions or billions of dollars to create. There aren't many companies that are financially able to develop and release open-source models with similar amounts of investment.
Persons: Mark Zuckerberg, Meta, Zuckerberg, Jensen Huang, Ash Jhaveri, We're, Jhaveri, WhatsApp Organizations: Meta, Google, Nvidia, Amazon Web Services, Microsoft, CNBC Locations: Tokyo, Dell, U.S
CNN —Shoko Miyata, the captain of Japan’s women’s gymnastics team, has withdrawn from Paris 2024 after allegedly breaking the team’s code of conduct by smoking and drinking alcohol, according to the Japanese Gymnastics Association (JGA). The legal smoking and drinking age in Japan is 20 and the JGA’s code of conduct prohibits gymnasts from doing either during team activities, regardless of age. Nishimura said that one incident of smoking took place “in a private place at a certain location in Tokyo” and a separate incident of drinking took place “in a room in the Athlete Village of the National Training Center.”“She engaged in smoking and drinking due to numerous pressures from the competitive targets that had been set,” Nishimura added. Miyata, who won bronze on the balance beam at the 2022 World Artistic Gymnastics Championships, was due to captain Japan’s women’s team of debut Olympians. The country’s women’s team is trying to win its first team medal since the 1964 Tokyo Games.
Persons: Shoko Miyata, Japan’s, Miyata, , Kenji Nishimura, Nishimura, ” Nishimura, Japan’s women’s, Tadashi Fujita, It’s Organizations: CNN, Japanese Gymnastics Association, National Training Center, Gymnastics Association Locations: Japan, Tokyo
CNN —Veteran environmentalist Paul Watson was arrested in Greenland on Sunday and faces possible extradition to Japan allegedly over anti-whaling activities in the Antarctic years ago, his organization said in a statement. The ship John Paul DeJoria and a 25-member crew were en route from Dublin, Ireland to the North Pacific to intercept Japan’s newly launched $48 million factory whaling ship the Kangei Maru, CPWF said. In a statement, Greenland police said they arrested Watson upon his arrival in Nuuk due to a Japanese arrest warrant. His foundation believes the arrest “is connected to a previous Red Notice issued for Watson’s anti-whaling activities in the Antarctic.”“This development comes as a surprise since the Foundation’s lawyers had reported that the Red Notice had been withdrawn. “Japan has never given up on its whaling ambitions,” Watson told CNN at the time.
Persons: Paul Watson, Captain Paul Watson, John Paul DeJoria, CPWF, , cuffing Paul Watson, Locky MacLean, Watson, Captain Watson, Kaisha, Shepherd, Kyodo Senpaku, , ” Watson, Takaaki Sakamoto, Hideki Tokoro, ” Tokoro Organizations: CNN —, Captain Paul Watson Foundation, Greenland police, ” Ship, Police, Japan Coast Guard, CNN, Interpol, Greenpeace, Shepherd Conservation Society, Japan’s Institute of Cetacean Research, Kyodo, Whaling Affairs, Japan’s Fisheries Agency, Kangei, Commission, IWC Locations: Greenland, Japan, Nuuk, Dublin, Ireland, Pacific, Shepherd, Germany, Costa Rica, Guatemala, United States, Australia, Norway, Iceland, Kangei
In recent months, Mr. Son has been laying out plans for a new big bet: self-driving cars. Befitting his maverick approach, Mr. Son’s pitch does not resemble other efforts to develop autonomous vehicles. That way, the thinking goes, they will be able to overcome the challenges that have led some to abandon self-driving car efforts. In recent months, Mr.
Persons: Son Organizations: Honda Motor, Nissan, Uber Locations: Tokyo, United States, Japan, Europe
By early afternoon I was walking under the turning foliage of Rikugien, one of my favorite gardens, where I paused by a wooden sign at the edge of a stream. But with this magic at our fingertips, is the study of foreign languages now pointless? In fact, foreign languages are more rewarding than ever, in part because technology has made them easier than ever to learn. Growing up in rural Western Massachusetts, foreign languages were inseparable from the wonder I associated with globes and maps, and with the graceful airliners I dreamed of someday flying to distant places. The language I really fell for, though, is Japanese, which I first studied during a summer homestay in Kanazawa.
Persons: Organizations: Airport, Boeing, Haneda Locations: Tokyo, Western Massachusetts, Belgian, Kanazawa
The study excluded nations that already faced a risk of direct conflict with China, the US and their respective allies. On the other hand, America's top allies don't share American fears that a massive Chinese military buildup and Chinese leader Xi Jinping's avowed determination to "reunify" Taiwan with China are steps toward war, but rather may be nationalistic posturing. AdvertisementYet if Japan, Australia, Britain and Canada are reluctant to confront China, there are actions they can take to help Taiwan. In addition, the four middle powers could play a role in mediators to prevent a Taiwan war from happening. "To build credibility with both great powers, the four middle powers need to rebuild and bolster their strategic autonomy, material power, and commitment to the Asia-Pacific region."
Persons: Rafiq Dossani, isn't, Xi Jinping's, China's, Dossani, Michael Peck Organizations: Service, America's, RAND Corp, RAND, Business, Taiwan's Ministry of Foreign Affairs, Canada, Chinese Communist Party, NATO, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Taiwan, China, Japan, Australia, Canada, American, South Korea, India, Beijing, Asia, South China, Pacific, Okinawa, East China, Britain, Europe, Forbes
Here I am at an event about longevity at my local library, practicing Chado, the traditional Japanese tea ceremony for preparing matcha. Here are the eight foods I always keep in my kitchen and eat every day to live a longer and happier life. Since I was in high school, I have practiced Chado, the traditional Japanese tea ceremony for preparing green tea. For example, I'll throw kombu seaweed into miso soup with some dried mushrooms, or make a salad with seaweeds like wakame and hijiki. I use dried shiitake for overnight dashi (soup stock) with kombu seaweed, miso soup, dressings, vinegar, curry — basically everything.
Persons: Chado, Michiko, Michiko Tomioka, I'm, It's, Ginger Locations: Nara, Japan, New York, hummus
Virginia Oliver, 104Virginia Oliver, 104, has been catching lobsters since she was eight years old, and she really enjoys it. Oliver's secret to living beyond age 100 boils down to: "You've gotta keep living, you gotta keep working. Deborah Szekely, 102Deborah Szekely, a 102-year-old, started her fitness resort and spa alongside her then-husband in 1940. Source: Rancho La PuertaMadeline Paldo, 100Madeline Paldo was a recent retiree at age 100 when she spoke to Make It in September of 2023. "And I was the only one in the office that did all of the office work for our business, so it was enjoyable.
Persons: Madeline Paldo, Virginia Oliver, It's, TODAY.com, Oliver, I'm, Deborah Szekely, Szekely, Deborah, Puerta Madeline Paldo, Paldo, Jayne Burns Organizations: CNBC, Puerta Locations: North America, Chicago
Financial transactions around the world were affected by a tech outage on Friday, hampering operations as workers at several firms struggled to log into their corporate systems. Employees at companies including JPMorgan Chase and Instinet, a brokerage firm owned by the Japanese bank Nomura, have had trouble gaining access to their work stations, according to people with knowledge of the matter who spoke on condition of anonymity. That has led to delays in some trades, though the companies have been working on workarounds, the people said. The London Stock Exchange said that its RNS corporate news service was unable to publish, citing a “third-party global technical issue” that it was investigating. The exchange operator added that the matter was not affecting securities trading and other services.
Organizations: Employees, JPMorgan Chase, Nomura, London Stock Exchange
However, Russia and Belarus are exceptions due to the invasion of Ukraine,” a Hiroshima city government spokesperson told CNN. Envoys from Russia and Belarus haven’t attended since Hiroshima excluded them in 2022 following Moscow’s invasion of Ukraine in February that year. Russia used Belarus as one of the launch pads for its assault and later moved some of its tactical nuclear weapons there. “As a city of international peace, Hiroshima city needs to invite all nations, regardless of whether they are at war or not,” said Kunihiko Sakuma, president of Hiroshima Hidankyo, an atomic bomb survivors’ advocacy group. Hiroshima authorities said they only send invitations to countries with embassies in Japan and have never invited Palestinian representatives to the ceremony.
Persons: haven’t, Israel, , Hiroshima’s, Belarus haven’t, Tetsuji Kumada, Khan Younis, Mohammed Salem, Fumio Kishida, Volodymyr Zelensky, Naoya Azuma, Kunihiko Sakuma, Yoko Kamikawa, Junko Ogura Organizations: Tokyo CNN —, CNN, , , European Union, Hiroshima’s, Russia, Hamas, Reuters, AP Japan, Kyodo, ” Kyodo, Mission of Locations: Tokyo CNN — Hiroshima, Gaza, Hiroshima, Israel, Russia, Belarus, Ukraine, , “ Russia, Nagasaki, Palestine, Japan, Israeli, Al, Khan, Reuters Japanese, Hiroshima Peace, Kyiv, Tokyo, Mission of Palestine
So begins the 1981 Oscar-winning film “Chariots of Fire,” introducing a group of British athletes as they train for the Olympic Games. Based on the lives and gold-medal-winning performances of sprinters Eric Liddell and Harold Abrahams ahead of the 1924 Paris Olympics, “Chariots of Fire” won four Oscars – including Best Picture. Athletes and officials process during the Opening Ceremony of the 1924 Paris Olympics. “The film has got a way of really, really speaking to people … something much more than we envisaged or probably had been put into it. He went on to become an influential journalist, broadcaster and athletics administrator, and he remains one of only three British men to win the Olympic 100m title.
Persons: St Andrews, ” David Puttnam, , Eric Liddell, Harold Abrahams, Ronald Reagan, Joe Biden, , It’s, Liddell, Abrahams –, , Ian Charleson, Allan Wells, ” Eric Liddell, Firmin, Wells, Abrahams, Liddell’s, , , I’ve, they’ll, ” Sue Caton, He’d, ” John MacMillan, MacMillan, “ He’s, Robin Hood, ” Abrahams, ” Harold Abrahams, Ben Cross, Sam Mussabini, “ Harold Abrahams, Mark Ryan, ” Liddell’s, Ryan, Puttnam, Oscar, Tom McNab, Nigel Havers –, Andrew Lindsey –, we’d, … I’ve, ” Courage Organizations: CNN, Olympic Games, CNN Sport, Keystone, Hulton, Scottish, international, University of Edinburgh, Olympics, Topical Press Agency, Getty, Eric Liddell Community, Cambridge, AAA, Central Press, BBC, , Paris, ABC, Disney, Entertainment Locations: Scottish, St, Paris, Scotland, China, Asia, Moscow, Edinburgh, , St Andrews, England
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