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A combination of technologies — from various forms of batteries to other energy storage methods — will likely be necessary to increase capacity. As shown in this render, energy storage company Energy Vault, along with Skidmore, Owens & Merrill, the architecture and engineering firm behind some of the world's tallest buildings, is integrating gravity energy storage technology into building designs. A view of the world's tallest building, the Burj Khalifa, in Dubai, in December 2022. Two energy storage experts contacted by CNN questioned if the economics of a skyscraper battery could work, given the space that would need to be used for energy storage and the structural changes that would be needed to support the extra weight. Energy Vault has already completed a project in China which it says is the world’s first commercial-scale, non-pumped hydro gravitational energy storage system.
Persons: Chicago’s Willis, Bill Baker, Abdelhadi Ramahi, Robert Piconi, Stefano Boeri, Daniel Safarik, Organizations: CNN, Skidmore, Owings, Merrill, Energy, Owens & Merrill, Trade Center, Sears, Burj, International Energy Association ., SOM, Reuters Locations: Burj Khalifa, Dubai, China, Milan, Italian
Fifty years ago on Wednesday, the French high-wire artist Philippe Petit carried his life a quarter of a mile through the New York City sky on a tightrope. When asked why, he said it was simply because the World Trade Center towers were there. “If I see two towers, I have to walk,” he told The New York Times. We are living in high-wire times, with anxiety and fracture all around us, and it is the job of the artist to show that we can, in fact, get from one side to the other. He didn’t defy gravity; he aligned himself with it, and in so doing he allowed us to defy our own possible falling down.
Persons: Philippe Petit, , Petit, Frenchman Organizations: New, World Trade, New York Times Locations: New York
One day after federal prosecutors announced that they had struck a plea deal with three men accused of plotting the Sept. 11, 2001, attacks, New Yorkers and family members of victims had mixed reactions to the sudden news. Under the agreement, the three men — including Khalid Shaikh Mohammed, the accused mastermind — will serve life in prison but avoid a death-penalty trial. “If Khalid Shaikh Mohammed doesn’t deserve the death penalty, who does?” said Don Arias, a retired Air Force lieutenant colonel, whose brother Adam was killed in the World Trade Center. From his home in Florida, Mr. Arias, 67, remembered days of searching for his brother before his remains were identified. Mr. Arias was upset about the plea deal, and especially about the sense that people seemed to have lost interest in an act of terrorism that claimed nearly 3,000 lives and shattered Americans’ sense of security.
Persons: Khalid Shaikh Mohammed, , Khalid Shaikh Mohammed doesn’t, , Don Arias, Adam, Arias, Organizations: Air Force, World Trade Locations: Yorkers, Florida
Ms. Cheatle joined the Secret Service in 1995 and spent more than two decades there before leaving in 2021 to lead the North American security operations for PepsiCo. Ms. Cheatle, 53, is the second woman to lead the Secret Service. By the time she had graduated from college four years later, Ms. Cheatle had applied for a job at the Secret Service, the newspaper said. At the Republican National Convention on Wednesday, two Republican senators chastised Ms. Cheatle in a confrontation that was captured on video. An internal Secret Service investigation of the shooting is underway, as are several inquiries in Congress.
Persons: Kimberly, Donald J, Trump, Kimberly A, Bill Clinton, Dick Cheney, Cheatle, Biden, Cheney, Barack Obama’s, Jill Biden, Charles Marino, , , Ms, Marsha Blackburn of, John Barrasso of, Anthony Guglielmi, Cheatle “, Mr, Guglielmi Organizations: Capitol, Secret Service, North, PepsiCo, Service, Security Magazine, Eastern Illinois University, The News, Gazette, World Trade Center, Pentagon, Mr, ABC, Republican National Convention, Secret Locations: Illinois, Danville , Ill, Chicago, Detroit, Atlanta, Laurel , Md, Butler, Pa, Marsha Blackburn of Tennessee, John Barrasso of Wyoming
Vance was swift to name China the “biggest threat to our country,” in an interview with Fox News Monday as the RNC got underway. He’s made countering what Washington says is a security threat from China a cornerstone of his foreign policy, even as he’s worked to stabilize communications with Beijing. And Beijing – which is grappling with its own economic woes – may be preparing for more friction if Trump takes office. The substance of Biden’s China policy – in terms of sanctions, tariffs and competition – has not been that different from Trump’s, she noted, and Biden has been keener on strengthening alliances and coalitions to counter China together. “But the style of Biden’s China policy is more predictable and stabilizing.
Persons: Donald Trump, JD Vance, Vance, Joe Biden, , , ” Vance, Trump, China –, That’s, ’ Vance, Sergey Lavrov, Vance doesn’t, Marco Rubio, Xi Jinping, He’s, he’s, ” Brian Wong, Qilai Shen, Biden, They’ve, Cho Jung, ” Cho, Yun Sun, , keener Organizations: Hong Kong CNN, Republican, Republican National Convention, Chinese Communist Party, Foreign, Trump, NATO, Ukraine, Fox News, RNC, University of Hong Kong’s, Contemporary, of, People, Bloomberg, Getty, Communist Party, Bloomberg Businessweek, US, China’s Foreign Ministry, Stimson Center, World Trade Locations: Hong Kong, Ohio, Washington, China, Asia, Beijing, Europe, Ukraine, Russia, Russian, America, Florida, Contemporary China, Taiwan, Taipei, Taiwan Strait, Japan, South Korea, US
LONDON — The International Monetary Fund on Tuesday lifted its 2024 growth outlook for the U.K. to 0.7% from 0.5%, providing a further boost to the country's new government. Looking ahead, the Washington, D.C.-based IMF reiterated its forecast for 1.5% U.K. growth in 2025 in the July update of its World Economic Outlook. Investment bank Goldman Sachs earlier this month nudged its 2025 forecast for the U.K. economy 0.1 percentage point higher, to 1.6%. Other economies given a 2024 growth upgrade by the IMF on Tuesday included the euro zone, which it lifted by 0.1 percentage point to 0.9%, Spain, up 0.5 percentage point to 2.4%, and China, up 0.4 percentage point to 5%. It lowered its forecast for the U.S. economy by 0.1 percentage point to 2.6%.
Persons: Taylor, Goldman Sachs, Keir Starmer, Goldman, — CNBC's Sophie Kiderlin, Vicky McKeever Organizations: Nine, Monetary Fund, D.C, Investment, Labour, European Union . Deutsche Bank, Friday, Deutsche Bank, Jefferies, Bank of England, Reuters, IMF Locations: Ruskin Park, London, England, Washington, brightening, Spain, China, U.S, Asia
When Liberty Tower went up for sale in Manhattan’s financial district in 1978, there was only one bidder for the 33-story skyscraper. The building was dated and dilapidated, and even though rent had plunged to $5 a square foot, it was two-thirds vacant. New York City itself had tumbled into a downward spiral after a severe fiscal crisis and a deep recession. “The financial district was failing. Liberty Tower was the first major residential conversion of an office building in New York’s financial district.
Persons: Joseph Pell Lombardi, ” Mr, Lombardi, Nobody Organizations: Liberty, New, Sinclair Oil, New York Stock Exchange, World Trade Center Locations: New York City, New York, Liberty, New
GUANGZHOU, CHINA - NOVEMBER 17: A GAC Aion Hyper SSR electric sports car is on display during the Auto Guangzhou 2023 at China Import & Export Fair Pazhou Complex on November 17, 2023 in Guangzhou, Guangdong Province of China. The ideal outcome China wants is for the European Commission to revoke its tariff decision by July 4 and adhere to World Trade Organization rules, Global Times reported, quoting observers. China has firmly opposed the tariffs, saying the move was "blatant protectionism" and could violate WTO rules, its commerce ministry said on June 14. A Chinese official told CNBC last week that the EU's probe into Chinese EVs was overly selective and that the results were not credible. Read the full report on Global Times.
Persons: Chen Yihang, Wang Wentao, Valdis Dombrovskis, EVs Organizations: Auto Guangzhou, China Import, Export, Getty Images, Union, Global Times, European Commission, World Trade Organization, EV, CNBC Locations: GUANGZHOU, CHINA, Guangzhou, Guangdong Province of China, China, Beijing
Along the walls of the B/D train station on 167th Street, Rico Gatson created “Beacons,” eight portraits of Black and Latino leaders with connections to the Bronx. He modeled each mosaic on black-and-white photographs, adding bright rays “coming out of a Pan-African sensibility of black, red and green,” Gatson has said, “but expanding with yellow and orange and sometimes evolving into silver and gold.”Ann Hamilton’s “CHORUS” (2018) is a white marble mosaic of words taken from the preamble of the Declaration of Independence and the United Nations Declaration of Human Rights, “a song stitched step by step” along a wall of the No. 1 train platform at the World Trade Center Cortlandt station.
Persons: Rico Gatson, Black, Gatson, ” Ann Hamilton’s, Organizations: United, World Trade Center Locations: , Independence, World Trade Center Cortlandt
London CNN —Leading shipping groups have urged governments “with influence” to put a stop to Houthi attacks on vessels in the Red Sea after a second freighter sank this week. The latest sinking is likely to have led to another death, according to a statement Wednesday from more than a dozen shipping associations, including the International Chamber of Shipping and the World Shipping Council. The longer diversion around the southern tip of Africa has sent shipping costs soaring and is causing congestion at ports in Asia and Europe, threatening to scramble global supply chains. We call for states with influence in the region to safeguard our innocent seafarers and for the swift de-escalation of the situation in the Red Sea,” they added. “Houthi attacks continue to make the Red Sea unsafe, and increases in charter activity and rates indicate carriers expect congestion to remain a factor for some time,” he added.
Persons: , , Hapag Lloyd, Judah Levine Organizations: London CNN, International Chamber of Shipping, World Shipping Council, Maritime Trade, Royal Navy, Shipping, Maersk, Drewry, Carriers Locations: Red, Africa, Asia, Europe, ., Yemen, Gaza, Suez, London, Red Sea, Singapore, Malaysia, Shanghai, China, Barcelona, Spain
Was Global Trade a Mistake?
  + stars: | 2024-06-19 | by ( Matthew Zeitlin | ) www.nytimes.com   time to read: +1 min
ONE WEEK TO CHANGE THE WORLD: An Oral History of the 1999 WTO Protests, by DW GibsonHOW THE WORLD RAN OUT OF EVERYTHING: Inside the Global Supply Chain, by Peter S. GoodmanOn a cold November morning in 1999, Harold Linde, a member of the Rainforest Action Network, was trying to hang an enormous sign from a construction crane hundreds of feet in the air over downtown Seattle. Loosely attached to a rope, he rappelled off the crane, lost control and began to plummet. Linde might have died, but thanks to the Ruckus Society, a nonprofit that trains activist groups, he knew to rip off his frictionless fleece gloves, grab onto the rope with his bare hands and wait for his colleagues to help him back up. After some spiritual assistance from “a circle of pagan witches on the ground” who were “sending prayers up,” Linde and his friends succeeded in unfurling a 100-pound banner. It showed two arrows pointing in opposite directions, one labeled “DEMOCRACY” and the other “W.T.O.”This stunt, which kicked off the Battle of Seattle, a protest of the third ministerial meeting of the World Trade Organization, captures the combination of high idealism, drama, detailed organization, radicalism and public relations savvy that defined a movement against the rising tide of globalization in the decades after the Cold War.
Persons: DW Gibson, Peter S, Goodman, Harold Linde, ” Linde, Organizations: Rainforest Action, Linde, Ruckus Society, World Trade Organization Locations: Seattle, , unfurling
London CNN —Beijing has launched an investigation into prices of pork from the European Union, targeting a major EU food export just days after Brussels hiked tariffs on electric vehicles from China. A hike in import tariffs could be very costly for European pork producers if it ends up hurting demand in China, the world’s largest pork market and the main destination for EU pork exports. The EU is the second-biggest pork producer after China. According to EU customs data, the bloc exported more than €2.5 billion ($2.7 billion) worth of pork, including offal, to China last year. Beijing had been widely expected to use targeted measures to try to dissuade EU officials from permanently adopting higher tariffs on electric cars imported from China, a decision the EU must make by November.
Persons: Olof Gill, Gill, , Xu, Maisie Linford Organizations: London CNN —, European Union, China’s Ministry of Commerce, EU, European Commission, World Trade Organization, WTO Locations: London CNN — Beijing, Brussels, China, Beijing, Spain, Netherlands, Denmark, France, Europe
Employees work on the assembly line of new energy vehicles at a factory of Chinese EV startup Leapmotor on April 1, 2024 in Jinhua, Zhejiang Province of China. The additional tariffs are the result of an EU probe that began in October. Main Chinese BEV producer BYD was struck with a 17.4% tariff, with Geely slapped with a 20% duty. "We strongly oppose the use of increased tariffs as a strategy to obstruct the normal global trade of electric vehicles. watch nowGlobal EV trade tensions
Persons: Shi Kuanbing, Valdis Dombrovskis, Dombrovskis, BEV, BYD, Geely, Elon Musk's Tesla, Tesla, Nio Organizations: Visual China, Getty, Union, EV, European Commission, EU, CNBC, China's Ministry of Commerce, Google, World Trade Organization, SAIC, Global Locations: Jinhua, Zhejiang Province, China, Europe, Shanghai
Tokyo (AP) — Japanese architect Fumihiko Maki, who won the prestigious Pritzker Prize for designs praised as smartly and artfully fusing the East with the West, has died. Maki, who taught architecture and urban design at Harvard, died June 6, his office, Maki & Associates, said Wednesday. A devoted educator, Maki, in addition to teaching at Washington University, Harvard and the University of Tokyo, lectured around the world. Maki, along with fellow Tange students Arata Isozaki and Kisho Kurokawa, were the pillars of Japanese modernism. The Pritzker, in selecting Maki, praised him as part of a new wave of architects rebuilding postwar Japan.
Persons: Fumihiko Maki, Pritzker, Maki, Mark Lennihan, Zaha Hadid, Kengo Kuma, Skidmore Owings, St . Louis, oku, ” Maki, , Kenzo Tange, Arata Isozaki, Kisho Kurokawa, Bill Lacy, Arnold Brunner Organizations: Tokyo, Harvard, Associates, National Museum of Modern Art, Yerba Buena Center, Arts, Trade, Trade Center, Pritzker, University of Tokyo, Cranbrook Academy of Art, Harvard University Graduate School of Design, Skidmore, Jackson & Associates, Washington University, Washington University , Harvard, MIT Press, American Academy of Arts, American Institute of Architects, AIA Locations: Kyoto, U.S, San Francisco, New York, Chiba, Japan, Hillside, Tokyo, Manhattan, British, Iraqi, Michigan, Merrill, Chicago, Sert, Cambridge, St ., Israel
India and Pakistan will take on each other in the Men’s T20 World Cup. But I soon realized that one of the unexpected pleasures of cricket in America was seeing the sport bloom between the cracks. Through their eyes, the New York cricket world continued to bloom in front of me. I discovered weekend leagues, a high school league and peculiarly, the NYPD Youth Cricket League — the subject of my upcoming feature documentary. This year there’s a second competition, the National Cricket League, headquartered in Dallas, home to a large South Asian community.
Persons: Ashish Ravinran, , Read, Ashish Ravinran Richa Dayal, who’d, ” Tanvir Ahmed, who’ve, Alex Davidson, We’re, we’ve, I’ve, Ramchandra, Fawwaz Baksh, They’ve, Bolt, Sean Paul, America ’, they’d Organizations: NYPD, CNN, South, Oxford, Cricket, New, NYPD Youth Cricket League —, Citi Field, American, Major League Cricket, National Cricket League, American College Cricket, West Indies, ICC, Bangladesh, Nassau County International Cricket, ” Sports, Local, World Trade Center, Times, Twitter, Facebook, America, Angeles Locations: Singaporean, New York City, Long, , New York, India, Pakistan, America, Caribbean, New York, Singapore, Bangladeshi, Brooklyn, Corona Park, Queens, Prairie, Texas, Morrisville, North Carolina, Dallas, Lauderhill, Florida, Jamaican, West, Canada, Eisenhower, Manhattan, Fort Lauderdale, Bangladesh, Texas , Florida
— artificial intelligence — is spurring curiosity and fear. paper, Acemoglu contended that artificial intelligence has the potential to improve employment prospects rather than undermine them:It is quite possible to leverage generative A.I. as an informational tool that enables various different types of workers to get better at their jobs and perform more complex tasks. Think of a generative A.I. To turn generative A.I.
Persons: Will A.I, Daron Acemoglu, David Autor, Simon Johnson, Johnson, Acemoglu, ” Acemoglu, — Tyna Eloundou, Pamela Mishkin, Sam Manning, Daniel Rock Organizations: Machines, of, World Trade Association, A.I, OpenAI, Centre, University of Pennsylvania, Labor Locations: M.I.T, United States, Autor, China, A.I
Mike Blake | ReutersSince 2019, immigration has added 2 million workers to the U.S. labor supply, according to an April analysis by Tedeschi. Without immigrants, Tedeschi estimated that the size of the U.S. labor supply would have shrunk by 1.2 million during that period. The short answer is that this executive order will probably not increase inflation. Some experts say the executive order could bring down costs by smoothing out the U.S.-Mexico supply chain. Biden's executive order could help clear some of these supply chain bottlenecks.
Persons: Joe Biden, Leah Millis, Joe Biden's, Biden, Andrés Manuel López Obrador, Jose Luis Gonzalez, Ernie Tedeschi, Tedeschi, Trucks, Daniel Becerril, Donald Trump, I'd, Mike Blake, Tara Watson, Guillermo Arias, Jerry Pacheco, It's, Pacheco, Watson, Trump, Saul Loeb Organizations: White, . Border Patrol, Department of Homeland Security, NBC, Texas National Guard, Reuters, United, Yale University's, White House Council, Economic Advisers, Customs, Brookings, Immigrants, AFP, Getty Images Shipping, Border Industrial Association, Getty Locations: U.S, Mexico, Washington , U.S, United States, Texas, Ciudad Juarez, Nuevo Laredo, Biden's, San Diego , California, Mesa Port, Tijuana , Mexico, New Mexico, Calexico , California
Read previewWestern countries are lining up to call out China for its barrage of cheap exports that are flooding the world's markets. "We will continue to monitor the potential negative impacts of overcapacity and will consider taking steps to ensure a level playing field, in line with World Trade Organization (WTO) principles." China pushes back on criticism, industrial profits rose in AprilBeijing has consistently resisted the West's criticism that it is dumping cheap goods on the world market. Chinese authorities say the West's accusations are protectionist and aimed at containing China's economic growth. In April, profits at China's industrial companies rose 4% from a year ago, reversing a drop in March, according to official statistics released on Monday.
Persons: , Janet Yellen, Olaf Scholz, Bruno Le Maire, Yu Weining, Joe Biden, Biden, Josh Lipsky, Lipsky Organizations: Service, Business, EU, Bloomberg, World Trade Organization, China's Commerce Ministry, European Commission, International Monetary Fund Locations: China, France, Stresa, Italy, Beijing, United States
At 2:45 p.m. on a sunny Wednesday in a plaza near the Flatiron Building, a crowd of a few dozen was watching, and appearing in, New York City’s most infamous new reality show. On a round video screen, encased in a porthole-like structure behind a railing, they could see a livestream of onlookers across the Atlantic, in the center of Dublin. “They can see you just like you see them!” a staff member minding the exhibit told the crowd. From the Irish side, people displayed images of swastikas and of the 2001 World Trade Center attack. The transgressions went viral, not the sort of global connection and sharing that the organizers were hoping for.
Persons: minding Organizations: Trade Locations: New York, Dublin,
Practically no one is phasing out the dollar for trade or foreign reserves, he said. No one is dumping dollars," Christian said of de-dollarization in a recent presentation. Its closest competitor, the euro, accounted for just 19% of all central bank reserves in 2022, down from around 29% several decades ago. Advertisement"There has been a diversification of central bank foreign exchange holdings, but it's not at the expense of the dollar, and it's not away from the dollar," Christian said. "Clearly people are buying dollars in a much greater volume than they are selling dollars," Christian said.
Persons: Jeffrey Christian, , Christian, it's, Chris Wallace, Wallace Organizations: CPM, Service, Bank of International Settlements, Monetary Fund, Federal Locations: Russia, China
Read previewThis as-told-to essay is based on a conversation with Kyle Rice, a 38-year-old EMS provider based in Willmington, Delaware. I came across a job on a job board as a protocol architect for a project manager at an EMS software company. I live in Wilmington, Delaware, with my wife and two kids — 125 miles from the office. AdvertisementI earn more and save more by working a NYC jobI'd never consider relocating to NYC because it wouldn't be smart financially. Whenever the commute frustrates me, I remember how grateful I feel that I can pass through a handful of states on my way to work.
Persons: , Kyle Rice, Rice, I'd, I've Organizations: Service, Business, Amtrak, Newark Penn Station, World Trade Center Locations: Willmington , Delaware, New York City, Wilmington , Delaware, New York, New Jersey, Long, Wilmington, Newark, Delaware, NYC, Manhattan
The Portal is back. In less than a week since its unveiling on May 8, the Portal had “attracted tens of thousands of visitors,” the installation’s organizers said in a statement. Then, on Sunday, at 2 p.m. local time in Dublin, the Portal returned, without much fanfare. Located just off O’Connell Street, next to a statue of the Irish writer James Joyce, the big round screen sits close to a busy thoroughfare in the center of Dublin. What the crowd saw seemed to be equal parts exciting and underwhelming: an empty street in the Flatiron district with the occasional commuter or dog walker.
Persons: Irish, James Joyce, , Bruce Springsteen Organizations: World Trade Locations: Dublin, Dublin’s, Flatiron, Manhattan, New York
TradeBiden has left some of Trump's tariffs in place, illustrating the protectionist bent that continues to take hold in Washington. Biden has left some of Trump's tariffs in place, illustrating the protectionist bent that continues to take hold in Washington. As president, Trump fixated on the US trade deficit even as some economists argued against reading too much into such figures. He didn't see the fruits of his biggest trade deal, which went into effect in July 2020: the USMCA, a revamped North American trade deal known Experts at Brookings Institution have praised the treaty for growing regional trade. Trump has pledged to kill the Biden administration's new Asian trade talks, which the former president has dubbed "TPP two."
Persons: Biden, Niels Wenstedt, Trump, Katherine Tai, Sen, Elizabeth Warren, Barack Obama Organizations: BSR Agency, Getty, Republican Party, American Free Trade, World Trade Organization, Big Tech, Trump, Bloomberg News, Brookings Institution, TransPacific, US, Biden, Politico Locations: Washington, China, American, Mexico, Beijing
Washington CNN —President Joe Biden is increasing tariffs on $18 billion in Chinese imports across a handful of sectors deemed strategic to national security – an attempt to cripple Beijing’s development of critical technologies and instead prioritize US production. The increases will apply to imported steel and aluminum, legacy semiconductors, electric vehicles, battery components, critical minerals, solar cells, cranes and medical products. That same trade law also requires the effectiveness of such tariff programs to be evaluated every four years, and the Biden administration decision is the result of that study. “China can’t be the only country that produces clean technology for the world we need,” a senior administration official said. The Chinese government, Biden argued, is providing state money to Chinese steel companies to make more steel than the economy demands, pushing down the price and making it impossible for other companies to compete.
Persons: Joe Biden, , , Lael Brainard, “ China’s, Donald Trump, Biden, Wang Wenbin, Trump, Janet Yellen, Antony Blinken, “ They’re, ” Biden, Sam Fossum Organizations: Washington CNN, White, National Economic Council, CNN, Biden, Trade Organization, Brookings Institute, United Steelworkers, Trump, China’s Ministry, Commerce Locations: China, Beijing, Europe, Brazil, Turkey, Pittsburgh, Midwest
Taipei/London CNN —Beijing says it will take “all necessary actions” to protect its rights as US President Joe Biden announced huge tariffs on imports of electric vehicles and other goods from China. “China opposes the unilateral imposition of tariffs which violate (World Trade Organization) rules, and will take all necessary actions to protect its legitimate rights,” Chinese foreign ministry spokesperson Wang Wenbin told reporters Tuesday in a regular press briefing shortly before the widely anticipated White House announcement. In addition to Chinese EVs, the increase in US tariffs will apply to imports of steel and aluminum, legacy semiconductors, battery components, critical minerals, solar cells, cranes and medical products. The new tariff for solar components will be 50%, while the remainder of the targeted imports will attract tariffs of 25%. Leaders from the Group of Seven developed economies will discuss how to protect their industries at a summit next month.
Persons: London CNN —, Joe Biden, Wang Wenbin, Biden, Wang, , ” Wang Organizations: London CNN, Trade Organization, European Locations: Taipei, London, London CNN — Beijing, China, United States, Europe, Beijing
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