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5 things to know about Boeing’s latest 737 Max crisis
  + stars: | 2024-01-10 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +10 min
Here is the latest on what to know as Boeing faces yet another 737 Max crisis. “We’ll make sure that we take steps to ensure that it never, never can happen.”The 737 Max 9 remains groundedOn Saturday, the Federal Aviation Administration ordered most Boeing 737 Max 9 aircraft to be temporarily grounded as regulators and Boeing investigate the cause of the incident. That has led to hundreds of cancelations, particularly from Alaska Airlines and United Airlines, which have dozens of the 737 Max 9 planes. United Airlines said it is canceling 167 Boeing 737 Max 9 flights today and expects significant cancellations on Thursday, too. Alaska Airlines also said Monday it found loose hardware on some of its 737 Max 9 planes during inspections.
Persons: Dave Calhoun, company’s ‘, , Calhoun, ” Calhoun, Patrick Shanahan, “ We’re, , “ We’ll, Max, Jennifer Homendy, CNN’s Poppy Harlow, AeroSystems, Republican Sen, J.D, Vance, Joe Biden, John Lovell, David Calhoun, ” Homendy, “ I’ve, I’ve, What’s, Eric Weiss, it’s, , Catherine Thorbecke, Chris Isidore, Greg Wallace, Pete Muntean Organizations: New, New York CNN, Alaska Airlines, Max, Boeing, CNBC, Alaska Airlines midflight, Spirit, Federal Aviation Administration, United Airlines, . United Airlines, National Transportation Safety, CNN, FAA, NTSB, Republican, Senate, National Transportation Safety Board, Alaska Airlines Flight, Reuters, Airbus, Transportation Safety Locations: New York, Portland , Oregon, , Ohio, Alaska, U.S, Indonesia, Ethiopia, Calhoun, Portland
After saying he had not met with Ohtani, Counsell was asked whether anyone in the Cubs front office had. Counsell replied: “I have not.”Japanese pitcher Yoshinobu Yamamoto, another prized free agent, could be sought by the New York Yankees and Mets, who set payroll records this year in their third season under owner Steve Cohen. The Mets' projected final 2023 payroll is about $346 million and their luxury tax roughly $102 million. Political Cartoons View All 1283 Images“I don’t know if anybody can compete with Steve Cohen,” Yankees general manager Brian Cashman said. He's had a lot of success and built an empire which has allowed him to do things like the Mets.
Persons: — Dave Roberts, Shohei, Roberts, Bob Fosse, Ross Atkins, I’m, Craig Counsell, Ohtani, Counsell, , Yoshinobu Yamamoto, Steve Cohen, , Brian Cashman, He's, ” Cashman, Juan Soto, Preller, Mike Shildt, Cashman, Alex Verdugo, Greg Weissert, Chris Devenski, Erick Fedde, he’s, Yamamoto, AP Sports Writers Teresa Walker, Jay Cohen, ___ Organizations: Los Angeles Dodgers, Toronto, ” New Chicago Cubs, Cubs, New York Yankees, Mets, ” Yankees, Padres, New Padres, Soto, Yankees, Boston Red Sox, Tampa, NC Dinos, Chicago White Sox, Associated Press, Cleveland, MLB, Dodger, Dodgers, Orix Buffaloes, Lotte Marines, AP Sports Writers Locations: Tenn, , San Diego, Miami, South Korea, Japan
Warren Buffett named Greg Abel, 61, as his successor at Berkshire Hathaway back in 2021. Abel started out as an accountant, before taking the reins as CEO of Berkshire Hathaway Energy. The Canadian businessman is currently chair of Berkshire Hathaway Energy and vice chair for non-insurance operations at Berkshire Hathaway. Abel took over the reins of MidAmerican in 2008, which was renamed Berkshire Hathaway Energy in 2014. Abel's tenure as Berkshire Hathaway Energy's CEO would last for two decades until he stepped down in 2018.
Persons: Warren Buffett, Greg Abel, Abel, Charlie Munger's, , Berkshire Hathaway, Buffett, Greg who'd, CNBC's Becky Quick, Charlie Munger, Berkshire acolyte Abel, CalEnergy, Warren Buffett Abel, Greg, Munger, He's, Warren Organizations: Berkshire Hathaway, Berkshire Hathaway Energy, Service, Berkshire, CNBC, University of Alberta, mater's, PricewaterhouseCoopers, MidAmerican Energy, doer, Directors, Business Insider Locations: Berkshire, Canadian, MidAmerican, Munger
Silicon Valley saw OpenAI with eyes wide shut
  + stars: | 2023-11-20 | by ( Anita Ramaswamy | ) www.reuters.com   time to read: +4 min
NEW YORK, Nov 19 (Reuters Breakingviews) - Silicon Valley’s weekend episode with artificial intelligence company OpenAI seems much like the technology: the input is a mishmash, so the output is flawed. The Microsoft-backed (MSFT.O) company’s board fired boss Sam Altman, and now, according to reports, may bring him back. OpenAI has been the leader in AI technology, which is bolstering valuations in the face of slowing growth in Silicon Valley. By September, OpenAI was seeking a valuation of nearly triple that, according to Reuters. Yet with or without Altman, OpenAI’s issues are clear and abundant.
Persons: Sam Altman, Altman, Greg Brockman, Satya Nadella, OpenAI, , OpenAI’s, chipmaker, chatbot, Brockman, Greg, Lauren Silva Laughlin, Thomas Shum Organizations: Reuters, Microsoft, Stanford, UC Berkley, OpenAI’s, San Francisco, Wall Street, Thomson Locations: Silicon Valley, U.S
On Thursday evening, Altman received a text message from Ilya Sutskever, another co-founder of OpenAI and its chief scientist, Brockman said. “Sam joined a Google Meet and the whole board, except Greg, was there,” Brockman said, referring to himself. Around the same time, OpenAI published a blog post.”According to Swisher, Altman did not learn about the subject of the meeting until 30 minutes before. “Greater things coming soon.”CNN has reached out to OpenAI for comment on Brockman and Swisher’s accounts of how the events transpired. An interim CEOIn announcing Altman’s firing, OpenAI said chief technology officer Mira Murati will serve as interim CEO.
Persons: Sam Altman, Greg Brockman, Altman, Kara Swisher, Ilya Sutskever, Brockman, “ Sam, Greg, ” Brockman, “ Ilya, Sam, , Ilya, OpenAI, Swisher, , what’s, Mira Murati, Murati, ” Murati Organizations: CNN, Twitter, OpenAI, Google, , Microsoft, Bing, , ” CNN, Dartmouth Locations: OpenAI
The relationship between stocks and bonds has been a tight one in recent months, with equities falling as Treasury yields climbed to 16-year highs. Higher yields offer investment competition to stocks while also raising the cost of capital for companies and households. Meanwhile, the S&P 500 has surged nearly 6% from its October lows. Draho expects the S&P 500 to trade between 4,200 and 4,600 until investors determine whether the economy will be able to avoid a recession. The S&P 500 was recently up more than 1% on the day.
Persons: Brendan McDermid, Jason Draho, Draho, Ryan Detrick, Greg Wilensky, Janus Henderson, David Randall, Ira Iosebashvili, Louise Heavens Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Treasury, UBS Global Wealth Management, National Association of Active Investment, CFRA Research, Carson Investment Research, Fed, Apple Inc, Janus, Janus Henderson Investors, Thomson Locations: New York City, U.S, Treasuries
Plenty of bond investors have been burned calling a bottom in a selloff that has taken Treasuries to the cusp of an unprecedented third straight year of losses. One potential near-term pitfall is Friday’s U.S. payrolls data, which could revive expectations of Fed hawkishness if they come in stronger than expected. The rise in Treasury yields has reached far beyond the bond market. The S&P 500 is down nearly 8% from its July high, as rising bond yields offer investment competition to equities while threatening to raise the cost of capital for companies. “The market is running with the idea that the Fed is done hiking, which they may or may not be,” he said.
Persons: Jerome Powell nodded, Bonds, , Jack McIntyre, , ” McIntyre, Stanley Druckenmiller, Duquesne, Bond, Josh Emanuel, Powell, We've, Greg Wilensky, Janus Henderson, ” Wilensky, Noah Wise, Davide Barbuscia, David Randall, Ira Iosebashvili Organizations: Treasury, Federal, Fed, U.S . Treasury, Brandywine, Janus, Janus Henderson Investors, Allspring Global Investments, Thomson Locations: U.S, Wilshire
Still, some traders interpreted his comments as an endorsement of keeping rates around current levels through most of next year. Yields on the benchmark 10-year Treasury, which move inversely to bond prices, rose briefly to 5% late on Thursday, a closely watched level not seen since 2007. “That gives people the go ahead to take rates above 5%.”Whiteley said that he sees 10-year yields moving as high as 5.5% before peaking. An extended climb in Treasury yields risks exacerbating the pressures that have dogged a broad array of assets in recent months. Still, even if the Fed cuts rates over the next few years, yields could stay above 5% if inflation and growth remain high, he said.
Persons: Jerome Powell, Brendan McDermid, Stocks, ’ ”, Greg Whiteley, ” Whiteley, , Gennadiy Goldberg, ” Goldberg, Powell, Sameer Samana, Alan Rechtschaffen, Rechtschaffen, Robert Tipp, Organizations: YORK, Treasury, Federal Reserve, Federal, Economic, of New, REUTERS, New York Economic, Fed, TD Securities, Wells, Investment Institute, UBS Global Wealth Management, Tipp Locations: of New York, New York City, U.S, DoubleLine
Still, some traders interpreted his comments as an endorsement of keeping rates around current levels through most of next year. Yields on the benchmark 10-year Treasury, which move inversely to bond prices, rose briefly to 5% late on Thursday, a closely watched level not seen since 2007. "That gives people the go ahead to take rates above 5%.”Whiteley said that he sees 10-year yields moving as high as 5.5% before peaking. An extended climb in Treasury yields risks exacerbating the pressures that have dogged a broad array of assets in recent months. Still, even if the Fed cuts rates over the next few years, yields could stay above 5% if inflation and growth remain high, he said.
Persons: Jerome Powell, Brendan McDermid, Stocks, , Greg Whiteley, ” Whiteley, Gennadiy Goldberg, Goldberg, Powell, Sameer Samana, Alan Rechtschaffen, Rechtschaffen, Robert Tipp, Davide Barbuscia, David Randall, Saqib Iqbal Ahmed, Ira Iosebashvili, Megan Davies Organizations: Economic, of New, REUTERS, Treasury, Federal Reserve, New York Economic, Fed, TD Securities, Wells, Investment Institute, UBS Global Wealth Management, Tipp, Thomson Locations: of New York, New York City, U.S, DoubleLine
In a few cases, according to NHTSA, ARC air bag inflators could be blocked by small pieces of debris, stopping the gases from escaping as they should. In May 2023, General Motors recalled 1 million GM vehicles with the air bags. NHTSA estimated the risk of one of these inflators rupturing at one in every 370,000 air bag deployments. But officials said the only way to know if an air bag has the defect is for it to actually rupture. NHTSA and various automakers are still working to get vehicle owners to replace all the air bags involved in that recall.
Persons: Jacob Tarvis, Marlene Beaudoin, Tarvis, inflators, Kia Optima, General Motors, , Donna Glassbrenner, Steve Gold, Gold, , — Ford Organizations: CNN, Traffic Safety Administration, ARC Automotive, Delphi Automotive Systems, NHTSA, ARC, Chrysler Town &, General, GM, BMW, Fiat Chrysler Automobiles —, Hyundai, Kia, Benz, Porsche, Tesla, Toyota, Volkswagen Locations: United States, Canada, Turkey, Traverse
So-called bond vigilantes - investors who punish profligate governments by selling their bonds, driving yields higher - were a feature of markets in the 1990s, when concerns over U.S. federal spending pushed Treasury yields to 8%. Strategist Ed Yardeni, who coined the bond vigilantes term in the early 1980s, has also chimed in. “The bond vigilantes have been challenging (Treasury Secretary Janet) Yellen’s policies by raising bond yields to levels that threaten to create a debt crisis,” he said in a Financial Times opinion piece on Wednesday. Famed bond investor Bill Gross, who co-founded Pacific Investment Management Co., said bond vigilantes will have a muted effect now given the Fed's larger role in markets. Bond investors "are rather powerless pawns in this interest rate chess game," he told Reuters by email.
Persons: Fitch, doesn't, Gene Tannuzzo, Jake Remley, Ed Yardeni, Janet, , Bill Gross, Greg Whiteley, Robert Tipp, David Randall, Davide Barbuscia, Ira Iosebashvili, Megan Davies, Cynthia Osterman Organizations: Bond, Columbia, Treasury, Apollo, Treasury Department, Government, Social, Research, Management, , Pacific Investment Management Co, Thomson Locations: Wall, Boston
Around two weeks later, Stone’s dog Moxie, a German Shepherd, suddenly passed away due to complications during a routine operation five days earlier. And the guilt that I felt and the grief that I had… My world just shattered.”Special bondJess Stone had been riding around the world with her husband Greg and dog Moxie. “It was so extraordinary riding with Moxie,” Stone explains. Starting overStone restarted the journey with here new White Swiss Shepherd puppy Whimsy in August. As Moxie was slightly older when they began traveling with her, riding with a puppy is a new experience for Stone.
Persons: Jess Stone, Greg, German Shepherd, ” Stone, Shephard, Greg Stone Stone, “ Greg, , Moxie, she’d, Stone, , Swiss Shepherd, Whimsy, “ We’ve, “ We’re, they’ve, “ Moxie, ” They’ve, “ It’s, they've, Greg Stone, She’s, she’s, hasn’t, it’s, I’ve Organizations: CNN, Pan, CNN Travel, Moxie, Locations: German, Central America, North, South America, Africa, Europe, Asia, Seattle, San Diego, Moxie, Swiss, Los Angeles, Guatemala, California, Nevada, Whimsy, Liberia, Airbnbs, Panama, Colombia, , Mexico, Central, Argentina, South Africa, East Africa, Instagram, ” “
"It's not going to be a matter of struggling to get the inflation rate higher. While higher interest rates are good news for savers, businesses and consumers have become used to paying nothing for money over the past 15 years. Reuters GraphicsREADING YIELDSA market-based Fed model that breaks down the 10-year Treasury yield into its components provides further insight into investors' thinking. This rise in term premium, which spent much of the last decade below zero, reflects high levels of uncertainty about economic outlook and monetary policy, investors said. While the market appears to be confident in its belief in the end of the era of zero interest rates, it is far less so about the economy's actual likely path.
Persons: Sarah Silbiger, Greg Whiteley, It's, Neel Kashkari, Kashkari, Adrian, Crump, Emanuel Moench, John Velis, Leslie Falconio, BNY's Velis, Velis, Paritosh Bansal, Anna Driver 私 Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Treasury, Federal Reserve, York Fed, Minneapolis, Moench, Frankfurt School of Finance, Management, Americas, BNY Mellon, UBS Global Wealth Management, San, San Francisco Fed Locations: Washington ,, U.S, DoubleLine, San Francisco
A U.S. Navy P-8 Poseidon aircraft takes off from Perth International Airport, April 16, 2014. REUTERS/Greg Wood/Pool/File Photo Acquire Licensing RightsSYDNEY, Sept 19 (Reuters) - Australia will spend A$1.5 billion ($966 million) to boost maritime surveillance of its northern approaches, buying more long range drone aircraft and upgrading Poseidon maritime patrol aircraft. The fleet of 14 Boeing (BA.N) P-8A Poseidon Maritime Patrol aircraft will have anti-submarine warfare, maritime strike and intelligence collection capabilities upgraded, Minister for Defence Industry Pat Conroy said in a statement on Tuesday. The Triton will provide long-range surveillance of Australia's maritime region, the statement said. Conroy said the Poseidon aircraft upgrades will strengthen the protection of Australian "maritime interests".
Persons: Greg Wood, Defence Industry Pat Conroy, , Conroy, Kirsty Needham, Lincoln Organizations: U.S . Navy, Perth International Airport, REUTERS, Rights, Boeing, Poseidon Maritime Patrol, Defence Industry, Northrop Grumman, Triton, United States Navy, Defence, U.S, Australian Poseidon, United Nations Security, Thomson Locations: Australia, Australia's Northern Territory, Asia, South Australia, United States, Pacific, China, Australian, South China, North Korea
When Greg Whiteley was 19 he ventured from his hometown, Bellevue, Wash., to spread the word of the Mormon Church on Navajo reservations in the Southwest. At first he would come in hot, as the kids say, eager to knock on doors and proselytize. “Frequently the thing I’d ask was, ‘Do you have time to hear a message about Jesus Christ today?’” he recalled during a video interview earlier this month from his Southern California home. “I was amazed at how quickly people would disclose the most vulnerable things at a doorstep within 90 seconds of meeting them,” Whiteley said. He didn’t realize it at the time, but he was preparing himself for a successful career as a documentary filmmaker.
Persons: Greg Whiteley, Jesus Christ, , , ” Whiteley Organizations: Mormon Locations: Bellevue, Wash, Southern California
Washington, DC CNN —Baggage handlers and airplane cleaners at the Phoenix Sky Harbor International Airport say they are exposed to brutally hot temperatures and are asking for an investigation into their employer, Prospect Airport Services. Nearly a dozen workers wrote to the Arizona Division of Occupational Safety and Health to say that even on the overnight shift, temperatures spike to unsafe levels while cleaners work inside airplanes without air conditioning. The Arizona Division of Occupational Safety and Health acknowledged the complaint in a brief statement to CNN. “Because it is an open file, we cannot comment further.”The letter also says break rooms are hot, and there is limited access to water. The complaint, from a state that experienced extreme hot temperatures throughout the summer, follows years of complaints from flight attendants and other workers who want more regulations around hot planes.
Persons: , , Trevor Laky, I’ve Organizations: DC CNN —, Phoenix Sky Harbor, Prospect Airport Services, Arizona Division of Occupational Safety, Health, CNN Locations: Washington
CNN —As an increasing number of passengers are acting out on crowded aircraft this summer, Transportation Secretary Pete Buttigieg has an admonition for passengers. “We expect everybody to respect flight crews and their fellow passengers.”Incidents ticked up over the summer months, from 586 last summer to 747 this year, according to FAA records. He made the comments as the Transportation Security Administration said the summer was the busiest at airports nationwide in the agency’s two-decade history. Buttigieg said airlines are doing a better job than last summer at getting passengers to their destinations. Sometimes we’ve seen an issue with ground crews.”“We have extremely high standards for close calls,” he continued.
Persons: Pete Buttigieg, , , ” Buttigieg, Buttigieg Organizations: CNN, O’Hare, FAA, Justice Department, Transportation Security Administration Locations: Chicago
CNN —American Airlines is facing the largest-ever fine for keeping passengers waiting on board airplanes during hours-long delays. The Department of Transportation is levying the $4.1 million fine, “the largest civil penalty that the Department has ever assessed” it said in a statement, for lengthy tarmac delays of 43 flights that impacted more than 5,800 passengers. In the longest of the delays, passengers sat aboard a plane in Texas in August 2020 for six hours and three minutes. Current rules also require airlines provide passengers water and a snack. American would pay $2.05 million of the fine to the government and has been credited for paying the other half in passenger compensation.
Organizations: CNN — American Airlines, Department of Transportation, Fort Worth, CNN Locations: Texas, Dallas, American
The so-called arms are the longer, feathery-like parts of the Antarctic strawberry feather star shown in the image. It belongs under the class of Crinoidea, which includes starfish, sea urchins, sand dollars, and sea cucumbers, and is a type of feather star — hence the less formal "Antarctic feather star" name. The Antarctic strawberry feather star stands out in particular due to the number of "arms" it has. "So we went from one species with 20 arms to now eight species — six with 20 arms and two with 10 arms under the name Promachocrinus," Rouse said. According to the paper, the Antarctic strawberry feather star was found somewhere between 215 feet to about 3,840 feet below the surface.
Persons: Greg Rouse, Rouse, Emily McLaughlin, Nerid Wilson, Greg W, We've, kerguelnsis, Eric A Organizations: Service, Privacy, University of California, university's Scripps, of Oceanography Locations: Wall, Silicon, San Diego, Australia
‘We’re All Water-Bottle Freaks’
  + stars: | 2023-08-11 | by ( Matt Richtel | More About Matt Richtel | ) www.nytimes.com   time to read: +1 min
A registered nurse and a mother of two from Colorado, she estimates that her family has accumulated “upward of 25 to 30” reusable flasks at home for keeping cold drinks: flasks large and small, of various designs and colors, with a straw and without. “Convenience,” she said, laughing, as she tried to piece together why, once again, she was not using one of her many beverage containers. “I guess we’re just a lazy society.”Americans are drinking a lot of water, but they are on the fence about how best to do it. More than $2 billion in reusable water bottles were sold the United States in 2022, up from around $1.5 billion in 2020, according to Greg Williamson, the president of CamelBak, which is a maker of reusable bottles. And sales of single-serving water bottles have been rising steadily, too, reaching 11.3 billion gallons in 2022, according to the most recent data from the Beverage Marketing Association, which tracks beverage sales.
Persons: Carrie Frost, Greg Williamson Organizations: Beverage Marketing Association Locations: Colorado, United States
Accounts such as here are sharing scenes of a hoax lab-grown “human meat” facility from the programme, suggesting the events are genuine. One user here wrote: "They are now making human meat … YES HUMAN MEAT … Are you awake yet?”The clip originally appeared on TikTok, where it gathered tens of thousands of “likes” here with the caption “human meat, UK are becoming cannibals”. Channel 4 confirmed The British Miracle Meat is entirely satirical. The show, which aired in Britain on July 25, follows presenter Greg Wallace visiting a hoax “engineered human meat” facility called Good Harvest. Scenes of lab-grown “human meat” are from a British satirical TV documentary.
Persons: Gregg Wallace, , Greg Wallace, Read Organizations: Reuters Locations: Britain
Elon Musk, Tesla boss, runs to a Tesla at the Tesla Gigafactory construction site. The California attorney general's office is investigating Tesla , seeking information from customers and former employees about Autopilot safety issues and false advertising complaints, CNBC has learned. Wester isn't the only Tesla customer to be contacted by analysts with the attorney general's office after voicing safety and related concerns. The person had previously voiced concerns about Autopilot and FSD safety issues at Tesla and publicly. While the company has previously identified "requests from the DOJ for documents related to Tesla's Autopilot and FSD features," Tesla has not disclosed that the California attorney general was investigating the company.
Persons: Elon, Tesla, Greg Wester, Wester, Rob Bonta's, Musk, It's Organizations: CNBC, Tesla, Federal Trade Commission, FTC, California, FSD, Consumer Sentinel Network, National, Traffic Safety Administration, National Transportation Safety Board, SEC, Department of Justice, The California Department of Motor Vehicles Locations: Grünheide, Berlin, California, U.S, Fremont, Austin , Texas, Palo Alto , California
Storms cause a growing number of flight disruptions
  + stars: | 2023-07-25 | by ( Greg Wallace | ) edition.cnn.com   time to read: 1 min
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Liberty Justice pays a "vanlord" about $450 a month to live near the Warner Bros. lot in Burbank. She told Insider she's paying about $450 a month for the van – the same amount she was paying to live with several people in a shared house. LA's abc7 reported in May that these vans don't have bathrooms, with many opting to use gyms instead. One vanlord, Greg William, told abc7 in May that he makes between $2,000 and $8,000 a month renting out 15 RVs. LA Councilwoman Traci Park told KCAL News in May she hoped to update regulations pertaining to RV rentals.
Persons: it's, TikTok, Justice's van, van, Greg William, LA, Traci Park Organizations: Liberty Justice, Warner Bros, Service, BBC, abc7, LAX, Los Angeles Homeless Services Authority Locations: LA, Burbank, Wall, Silicon, Los Angeles, Los, RVs
With the second half of the year now underway, investors may want to take another look at their fixed income portfolio. High yields have been a boon to income investors, as the Federal Reserve increased interest rates over the past year. "For more of our clients, we're looking to have the fixed income of the portfolio provide lower correlation and income," he said. Greg Wilensky, head of U.S. fixed income at Janus Henderson Investors, generally prefers securitized assets such as asset-backed and mortgage-backed securities. "You can't think of high yield bonds in the same thought as Treasurys," said Cox of eToro.
Persons: James Franke, Sonal Desai, She's, We're, It's, Desai, Franke, Rothschild, Callie Cox, Greg Wilensky, Janus Henderson, Cox Organizations: Federal Reserve, Treasury, Rothschild Investment, Franklin, Janus, Janus Henderson Investors Locations: Treasurys, U.S, eToro
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