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AdvertisementBusiness Insider spoke with seven Fisker Ocean owners who shared their anxieties about what will happen to their cars if Fisker is no more. AdvertisementSome Fisker owners said they are already struggling to get service and parts. Three Fisker ocean owners described instances where the vehicle was bricked for days after their 12-volt battery died. What Fisker's failure would mean for its competitorsIf Fisker files for bankruptcy, there are likely to be ripple effects for other EV startups, Fiorani said. "If Fiskers start falling off the side of the road in the next few months because there's no one to update them, that's going to put fear into a lot of electric vehicle owners — not just Fisker owners," Fiorani said.
Persons: , Henrik Fisker teeters, Sam Fiorani, Kurt Mechling, Mechling, Fisker, Chris Salvo, Salvo, Henrik Fisker, Mario Anzuoni, Fiorani, Patrick Burrell, Tesla Organizations: Service, Business, AutoForecast Solutions, BI, Reuters, EV Locations: California
Trump Media CEO Devin Nunes wrote a letter to lawmakers asking them to look into "unlawful manipulation" of the firm's stock. Citadel Securities last week called Nunes a "loser" for blaming shorts for the stock's decline. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTrump Media stock has been on a roller coaster ride since its IPO at the end of last month, hitting $35.05 a share Wednesday, up almost 8% after a 54% drop from its peak.
Persons: Devin Nunes, Nunes, there's, , Donald Trump Organizations: Trump Media, Citadel Securities, Service, Social, , Securities, VIRTU, Jane, Capital, Nasdaq, Trump Locations: VIRTU Americas
Rep. Devin Nunes, R-Calif., ranking member of the House Intelligence Committee, speaks during an impeachment inquiry hearing in Washington, Nov. 13, 2019. Trump Media CEO Devin Nunes on Tuesday urged House Republican committee leaders to investigate possible "unlawful manipulation" of the company's stock. Trump Media, which began trading on the Nasdaq on March 26 after completing a lengthy public merger, was far and away the most expensive U.S. stock to short as of early April. The letter comes as the stock price of Trump Media, which created the social media app Truth Social and is majority-owned by former President Donald Trump, continues to trend down in volatile trading sessions. The stock dropped nearly 5% early Wednesday but turned positive before noon, trading around $33 per share.
Persons: Devin Nunes, Nunes, Patrick McHenry, Jim Jordan, Jason Smith, James Comer, Donald Trump, DJT Organizations: House Intelligence, Trump Media, Republican, GOP, Nasdaq, Financial Locations: Washington, R, Ohio, Spokespeople
European Union regulators on Monday threatened to fine TikTok over potentially addictive features on a version of its app called TikTok Lite, which was released to work more smoothly on slower wireless networks. investigation adds to TikTok’s regulatory challenges as the U.S. Senate prepares to vote on a bill that would order the app’s owner, the Chinese internet company ByteDance, to sell TikTok or be banned. The company is under growing pressure for its links to China, data collection practices and potentially harmful effects on children. They said the features created a financial incentive to spend more time on the app, creating risks for addiction and mental health issues, particularly for children. investigation against TikTok, along with another inquiry focused on a lack of effective age-verification protections and addictive design features.
Persons: TikTok Organizations: U.S, Senate, TikTok Locations: China, Europe
Andrew Aitchison | In Pictures | Getty ImagesIn case you haven't noticed, heat pumps are hot. But there are other reasons why heat pumps are fast becoming popular with homeowners. All of this is transforming Carrier Global , the nearly 100-year-old manufacturer whose founder, Willis Carrier, invented air conditioning. Heat pumps have a history dating back to 1850s The thermodynamic science behind heat pumps was developed in the 1850s, when the first ones were invented, and they've been used in homes since the 1960s. Heat pumps use electricity to transfer heat from a cool space to a warm space, making the cool space cooler and the warm space warmer.
Persons: CARR, Andrew Aitchison, Willis Carrier, David Gitlin, Carrier, Hakan Yilmaz, Yilmaz, they've, Michael Kretschmer, Sebastian Kowalski, Kretschmer, Tobie Stanger, Dave Lis, Viessmann, Milena Oliveira, Oliveira, Mark Prodan, Prodan, There's Organizations: Carrier Global, United Technologies, Solutions, East Trade Policy, Getty, International Energy Agency ., U.S . Climate Alliance, Consumer, Energy Efficiency, Carrier, M, Energy Star Locations: Gardens , Florida, Saxony, Leipzig, America, U.S, Maine, Michigan, Indian, Connecticut, New York State
In the best U.S. city for remote work, the median household income is $71,000; rent is about $1,400 a month; homes are valued at about $412,000; and 58% of residents are college grads. The waterfront town is the highest-ranked U.S. city for remote workers according to a new analysis from Remote.com, a global HR platform for distributed teams. While most top cities are spread across Europe and Asia, Portland is the only U.S. city to crack the top 10. Here are the 10 highest-ranked U.S. cities for remote work, according to Remote.com:Portland, Maine (No. 20 overall) New York, New York (No.
Persons: van der Locations: Portland , Maine, Europe, Asia, Portland, Remote.com, Honolulu, Hawaii, Des Moines , Iowa, New York , New York, Concord , New Hampshire, Minneapolis , Minnesota, Hamilton , Ohio, Topeka , Kansas, Louisville , Kentucky, Montpelier , Vermont, U.S, Maine
Special Education, Inc.
  + stars: | 2024-04-21 | by ( Meghan Morris | ) www.businessinsider.com   time to read: +34 min
AdvertisementNate Smallwood for BITo some, private equity's business model appears antithetical to special education. (The average public school district in Pennsylvania, where New Story operates the most schools, spends about $23,000 per child across all types of public education. "Private equity has no place in education — especially special education," Sen. Sherrod Brown of Ohio told BI. For instance, two Pennsylvania education directors left in spring 2023, according to records obtained by BI — one after just months in the role. AdvertisementNickie Coomer, a Colorado College education professor who has written about the privatization of special education, told BI that this data gap is a major regulatory hole, one that private-equity companies are happy to exploit.
Persons: Emily, Sarah, Nate Smallwood, Sarah didn't, , Mergermarket, Shanon Taylor, Taylor, Sen, Sherrod Brown, Bob Casey of Pennsylvania, Casey, Paul Volosov, Volosov, Jim Grinnen, Rachel Wisniewski, Christina Spielbauer, Spielbauer, Nathaniel Garnick, Garnick, sully, Craig Richards, He's, Richards, they're, " Richards, Judith McKinney, Grinnen, Donnell McLean, McLean, Natalie Stoup, Blackstone, haven't, Biden, of Education spokespeople, Nickie, , that's, didn't, Hill, Amy Hall Kostoff, Kostoff, Green, she'd Organizations: Business, State College ,, New, BI, Audax Group, Kentucky, Pennsylvania State Employees, Schools, Audax, Rock Academy, University of Nevada, Ohio, Pennsylvania Department of Education, Rock, Reading School District, River Rock Academy, Virginia's Department of Education, Green Tree, Pay, Tree, Autism, Forbes, NBC News, Federal Trade Commission, of Education, Colorado College, Tree School, Pennsylvania's Department of Education, Pennsylvania, In State College Locations: State College , Pennsylvania, Boston, Pennsylvania, Reno, , Ohio, New Story's, Rock, Virginia, , Ohio, New Jersey , Pennsylvania, New Story's New Cumberland , Pennsylvania, CARD's Virginia, Philadelphia, Rochelle Park , New Jersey
Read previewRussia is recruiting female convicts to bolster its war effort in Ukraine, the Kyiv Post reported, citing a Ukrainian intelligence spokesperson. The role of women in the war has expanded rapidly since Russia's full-scale invasion of Ukraine in 2022. The practice of offering convicts freedom in exchange for military service in Ukraine began under Yevgeny Prigozhin, the late founder of the mercenary Wagner Group. Business Insider contacted the Russian Ministry of Defense for comment. Elena Tita/Global Images Ukraine via Getty ImagesUkrainian women have been joining the military in significant numbers since Russia's full-scale invasion in 2022.
Persons: , Andriy Yusov, Yusov, Yevgeny Prigozhin, Wagner, Vladimir Osechkin, Dmitry Peskov, Vladimir Putin, Elena Tita Organizations: Service, Kyiv Post, Kyiv, Business, Newsweek, UK Ministry of Defence, Russian Ministry of Defense, Getty Images, Ukraine's Ministry of Defense, BBC, CNBC Locations: Russia, Ukraine, Kyiv, Ukrainian, Russian, Zaporizhzhia Oblast
watch nowHELL'S GATE, Kenya — Two-and-a-half hours northwest of Nairobi by car, a small group of bitcoin miners set up shop at the site of an extinct volcano near Hell's Gate National Park. "That doesn't happen without the bitcoin miners and us being globally distributed." MacKenzie SigalosWherever the operation, bitcoin mining is a volatile business, because so much of the economics depends on the price of the cryptocurrency. Before getting into bitcoin mining, he and his two co-founders, Philip Walton and Janet Maingi, spent years building internet connectivity infrastructure in rural and urban Africa. Demand from bitcoin miners on these semi-stranded assets is making renewables in Africa economically viable.
Persons: Jack Dorsey's, MacKenzie Sigalos, Erik Hersman, Bitcoin, Gridless, Lake Naivasha, bitcoin, Adam Sullivan, Philip Walton, Janet Maingi, Michael Gottschalk, Nic Carter, Carter, Hersman, It's, it's Organizations: CNBC, Kenyan, Core, Deutsche Bank, Marathon, United Arab, Getty, Island Ventures, Miners, International Energy Agency Locations: Kenya, Nairobi, Lake Naivasha, Malawi, Zambia, Venezuela, Lebanon, Gate, Lake, U.S, Texas, Russia, China, America, Africa, Toronto, Argentina, Florida, United Arab Emirates, Paraguay, Hersman, Sudan, Iceland, El Salvador, Bhutan
Trump Media CEO Devin Nunes on Friday said he would "do whatever it takes" to defend the company's retail investors from possible illegal short selling of its shares. Delivering remarks in Scranton, Pennsylvania, on Tuesday, Biden took a dig at Donald Trump, his November Republican election opponent, as shares of Trump Media tanked from its more than $70 debut price. Trump Media's stock, trading under the ticker DJT , rallied toward the end of this week, but has plummeted starkly from its peak. It involves a trader selling shares that have not been borrowed or arranged to be borrowed. Nunes said that Trump Media has appeared on the Nasdaq's "Reg SHO threshold list," which could indicate illegal trading behavior.
Persons: Devin Nunes, Nunes, Joe Biden, Biden, Donald Trump, Trump, DJT, SHO, Ken Griffin Organizations: Truth, Conservative Political, Trump Media, Trump, Republican, Trump Media tanked, Nasdaq, Securities and Exchange, CNBC, SEC, Citadel Securities, GOP Locations: National Harbor , Maryland, Scranton , Pennsylvania, California
Al Drago | Bloomberg | Getty ImagesCitadel Securities ripped Trump Media CEO Devin Nunes on Friday for a letter he sent the Nasdaq Stock Market which mentioned Citadel Securities and other major market companies after warning of possible illegal short sale trading in DJT shares. "Devin Nunes is the proverbial loser who tries to blame 'naked short selling' for his falling stock price," said a spokesperson for Citadel Securities. Citadel Securities' founder and non-executive chairman Ken Griffin is a major donor to Republican candidates — among them the former GOP congressman Nunes. "If he [Nunes] worked for Citadel Securities, we would fire him, as ability and integrity are at the center of everything we do," the spokesperson added. "Data made available to us indicate that just four market participants have been responsible for over 60% of the extraordinary volume of DJT shares traded: Citadel Securities, VIRTU Americas, G1 Execution Services, and Jane Street Capital," Nunes wrote.
Persons: Devin Nunes, Al Drago, Ken Griffin, Nunes, Donald Trump, Pavlo Gonchar, Adena Friedman, Friedman Organizations: Truth, Conservative Political, Bloomberg, Getty, Citadel Securities, Trump Media, Nasdaq, Securities, GOP, Republican, CNBC, Lightrocket, Trump, Trump Media & Technology Group Corp, VIRTU, Jane Street Locations: National Harbor , Maryland, VIRTU Americas
Trump Media has warned the Nasdaq market of 'potential market manipulation' of the company's stock by "naked" short selling of shares. The warning came as Trump Media has offered shareholders detailed instructions on how to avoid someone loaning out their DJT shares to short sellers, who then execute trades betting that the price of the stock will fall. Trump Media CEO Devin Nunes, in his letter Thursday to Nasdaq CEO Adrena Friedman, did not directly accuse anyone in particular of naked short selling, which is the sale of stocks without first having borrowed such sales for that purpose. But Nunes, whose company owns the Truth Social app, pointed to circumstantial evidence, which included DJT being in early April the most expensive stock to short in the United States, which he said would give brokers "significant financial incentive to lend non-existent shares." Please check back for updates.
Persons: Devin Nunes, Adrena Friedman, Nunes, DJT Organizations: Trump Media, Nasdaq Locations: United States
New Delhi/London CNN —In just a few days, India will commence the world’s largest democratic election. So, is the hype around Modi’s India, which remains a largely impoverished country, justified? The world’s largest biometric database has also helped the government save millions by reducing corruption in welfare initiatives. Domestic investors, both retail and institutional, have been driving India’s stock market to unprecedented peaks. Still, India’s economy, much like its democracy, is far from perfect.
Persons: Narendra Modi, Indranil Mukherjee, Modi, Himanshu Sharma, Guido Cozzi, Arun Sankar, Billionaire Elon Musk Organizations: London CNN —, Getty, CNN, World, University of St, Unified, Bank, , National Stock Exchange of India, bourse, Bombay Stock Exchange, NSE, Shenzhen Stock Exchange, Hong Kong Exchange, World Federation of Exchanges, Macquarie Capital, Apple, Foxconn, Billionaire, International Labour Organization Locations: New Delhi, London, India, China, Beijing, Ajmer, Rajasthan, University of St Gallen, Switzerland, Asia’s, Washington, Sriperumbudur, Chennai, Mumbai's Churchgate, AFP
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA TikToker says she was "roasting like a freakin' chicken" after she got stuck in her Tesla on a hot day while the car completed its software update. I can't open up the doors or the windows otherwise, I could potentially damage my car," Janel continued in her viral video. AdvertisementIn a later video, Janel said she had owned her Tesla for about 6 years, but this was the first time she'd decided to update the car while she was inside. I'm literally dripping sweat; you can see it on my face," she said in a video update regarding her ordeal.
Persons: , Tesla, Brianna Janel, Chick, Janel, she'd, I've Organizations: Service, Business Locations: Orange County
CNN —World Athletics (WA) will become the first international sports governing body to award prize money to Olympic gold medalists starting at the Paris 2024 Games, the federation said in a statement on Monday. Athletes who win gold in each of the 48 track and field events in Paris will receive $50,000. Traditionally, Olympic medal winners don’t receive prize money as the event originated as an amateur competition. WA says it is committed to extending the bonus initiative to Olympic silver and bronze medalists at the Los Angeles 2028 Olympic Games. “It reflects World Athletics’ view that the athletes – our athletes make up 20% in numbers at an Olympic Games – should be recognized,” he said.
Persons: Sebastian Coe, ” Coe, Coe, , Organizations: CNN, Athletics, WA, Olympic, ” WA, Olympic Games, Los, Games, National Olympic Committee Locations: Paris
Some of those annoying fees on your credit card may soon be getting smaller. Banks and credit-card companies are almost certainly trying to figure out where else they squeeze money out of you. The response to the interchange-fee settlement has been a bit more muted: The Electronic Payments Coalition, which represents Visa, Mastercard, and other credit-card companies, said it was OK with the swipe-fees cap. Taken together, it's clear that many companies in the credit-card business would rather not be dealing with this situation. According to the Merchants Payments Coalition, Mastercard is now planning to increase different credit card fees soon, it's "network assessment" fee.
Persons: Banks, Matt Schulz, JPMorgan Chase, Mark Elliot, Doug Kantor, Mark Mason, Rich Fairbank, We've, it's, Ira Rheingold, Amanda Jackson, Emily Stewart Organizations: Consumer Financial, Mastercard, Visa, Bank Policy Institute, Electronic Payments Coalition, UBS, JPMorgan, American Express, National Association of Convenience Stores, Merchants Payments Coalition, Capital, JPMorgan Chase, National Association of Consumer, Companies, Financial Reform, Business
78% of home-owning baby boomers plan to age in their current homes, a Redfin survey found. Financial incentives are keeping boomers put, with current mortgage rates and home prices too high. That's not good news for housing supply, which is already dwindling at historic lows. Politicians should focus on expanding housing stock that meets the needs of older Americans, which could help with housing affordability and availability for all," Fairweather added. Prospective homebuyers could see some inventory relief as mortgage rates continue to gradually fall through this year, bringing back sellers.
Persons: boomers, , Redfin, It's, millennials, Daryl Fairweather, aren't, Fairweather Organizations: Service
For Chipotle, it's the first stock split in the company's 30-year history, and its announcement echoed Walmart's. Both are hoping, through the availability of an employee stock purchase plan and financial education, they'll get more workers to invest. Chipotle, even further out on the market chart, has shares nearing $3,000 — its stock split is to be effective June 26. ESPP versus fractional sharesEven without a stock split, employees could have already purchased shares of their company, or at least fractional shares, through a brokerage account. Company stock and financial educationSplitting a stock and having a generous ESPP can only go so far when it comes to encouraging employees to buy the company stock.
Persons: they'll, Michael Kestenbaum, Chipotle, Dan Kapinos, Clemens Kownatzki, Aalap Shah, Pearl Meyer, SoFi, Kownatzki, Larry Fink, Kestenbaum Organizations: Walmart, Companies, West Coast, Google, Pepperdine Graziadio Business, Khan Academy, Lyra Health Partners, Bank of America, Employees Locations: Aon
Read previewThe influencer had a directive for the 75,000 members of her Facebook Group. Some creators' Facebook pages look vibrant, with thousands of followers and every photo and post they share accruing numerous comments, affirmations, and reactions. PLEASE refrain from using the normal words," wrote an administrator for "Maniifesting 55k (META}🤑" , a Facebook Group with 6,500 members. AdvertisementBuying and selling Facebook accounts is prohibited, but a bustling trade in Performance Bonus accounts is thriving in some of the Groups. The 22,000-member "$30k Performance Bonus" Group hosts a mix of posts begging for engagement and people openly selling Facebook accounts.
Persons: , affirmations, Meta, That's, Baltimore influencer, tim e Organizations: Service, Facebook, Business, Baltimore, Facebook Groups, Facebook's, GE Locations: Baltimore
Puerto Rico is becoming an increasingly popular destination for mainland Americans looking to relocate for tax purposes without giving up their US citizenship. Maridav/Getty ImagesBetween 2021 and 2022, about 27,000 individuals moved from the US mainland to Puerto Rico, according to data collected by the US Census Bureau . Related storiesIn 2021, the cost of living in Puerto Rico rose by 7%, the largest jump seen in 40 years. According to data from Realtor.com, the median home price in San Juan, Puerto Rico, in February was $950,000, up 37% in the past year. AdvertisementAccording to the Associated Press, there are now 25,000 short-term rentals in Puerto Rico, up from 1,000 in 2014.
Persons: , Anna, Brock Pierce, Anna aren't, Adrián González Costa, Hurricane Maria, Puerto Ricans Organizations: Service, Puerto Ricans, Business, US Census Bureau, Federal Housing Finance Agency, San Juan, Puerto Rican Independence Party, San Juan Daily Star, Associated Press, AP Locations: Puerto Rico . Puerto Rico, Europe, Puerto Rico, Maridav, Puerto, Realtor.com, San Juan , Puerto Rico, Aguas Buenas, San Juan, San Juan ., AFP
The Securities and Exchange Commission's chair, Gary Gensler, recently warned about "AI washing," or companies giving off a false impression that they're using AI so they can amp up investors. And while some companies are simply exaggerating the tech they do legitimately use, others have taken it a step further. Most companies aren't being accused of breaking the law with their AI chatter, but they're definitely posturing around it. An analysis from Goldman Sachs found that 36% of S&P 500 companies mentioned AI in their fourth-quarter earnings calls, a record high. Even the Big Tech companies that are really moving and shaking in AI are on shifty ground at times.
Persons: Gary Gensler, Delphia, Goldman Sachs, Scott Kessler, Elon Musk, Adolf Hitler, it's, ChatGPT, Daron Acemoglu, Sam Altman, Ed Zitron, he's, It's, overselling, Angelo Zino, Microsoft's, Zino, Acemoglu, Emily Stewart Organizations: Securities, Exchange, SEC, Woodstock, Third, MIT, Prosperity, Nvidia, AMD, Broadcom, CFRA Research, Big Tech, Tech, Microsoft, Business Locations: San Jose , California
Inside the AI talent-hiring frenzy
  + stars: | 2024-03-27 | by ( Aaron Mok | ) www.businessinsider.com   time to read: +6 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe fight to hire the best AI talent is heating up as companies large and small compete in the race to create the best products in the booming sector. Last week, Mustafa Suleyman, the cofounder of Google's DeepMind, left his startup Inflection AI to lead tech giant Microsoft's consumer AI division as CEO. "AI talents are some of the most highly compensated in today's job market," Alex Libre, the cofounder and principal recruiter of Einstellen Talent, a service that matches job candidates with generative AI startups, told BI. Related stories"There is undoubtedly a shortage in AI talent," Libre says.
Persons: , Mustafa Suleyman, Google's DeepMind, Aravind Srinivas, pricey, Sam Altman's, OpenAI, Salesforce, J.T, O'Donnell, Alex Libre, He's, They're, Ray, Flavien, Coronini Organizations: Service, Meta, Business, Big Tech, Companies, Tech, Libre, Big, . Workers, Microsoft
The Securities and Exchange Commission's chair, Gary Gensler, recently warned about "AI washing," or companies giving off a false impression that they're using AI so they can amp up investors. And while some companies are simply exaggerating the tech they do legitimately use, others have taken it a step further. Most companies aren't being accused of breaking the law with their AI chatter, but they're definitely posturing around it. An analysis from Goldman Sachs found that 36% of S&P 500 companies mentioned AI in their fourth-quarter earnings calls, a record high. Even the Big Tech companies that are really moving and shaking in AI are on shifty ground at times.
Persons: Gary Gensler, Delphia, Goldman Sachs, Scott Kessler, Elon Musk, Adolf Hitler, it's, ChatGPT, Daron Acemoglu, Sam Altman, Ed Zitron, he's, It's, overselling, Angelo Zino, Microsoft's, Zino, Acemoglu, Emily Stewart Organizations: Securities, Exchange, SEC, Woodstock, Third, MIT, Prosperity, Nvidia, AMD, Broadcom, CFRA Research, Big Tech, Tech, Microsoft, Business Locations: San Jose , California
Tesla is offering a free monthlong trial of its Full Self-Driving software. FSD adoption could significantly increase Tesla's profit margins and improve the software. Tesla CEO Elon Musk announced on Monday that the electric carmaker would offer its US customers a free trial of the driver-assist software starting this week. "All US cars that are capable of FSD will be enabled for a one month trial this week," Musk wrote on X. Advertisement"Almost no one actually realizes how well (supervised) FSD actually works," Musk wrote in the email.
Persons: Tesla, , Elon Musk, Musk, FSD, Brett Winton, Cathie Wood, I'm, I've Organizations: Service, Business, ARK Invest, Tesla, National, Traffic, Administration
The ChatGPT maker announced this week it had struck partnerships with two major European media organizations: France's Le Monde and Spain's Prisa Media. This story is available exclusively to Business Insider subscribers. This is a "threat" to GooglePublishers who've signed agreements with OpenAI say they hope the partnerships will bring new life to their business. By wooing users with a better interface, OpenAI could threaten Google's dominance over online search, Zaman said. OpenAI did not immediately respond to a request for comment from Business Insider.
Persons: , OpenAI, Brad Lightcap, Axel Springer, Roger Lynch, Condé Nast, Google Publishers who've, Le Monde, Tauhid Zaman, Zaman, Hugh Martin Organizations: Service, Prisa, Business, Politico, CNN, Fox Corp, Bloomberg, ChatGPT, Yorker, Wired, The New York Times, Microsoft, Google Publishers, Google, Facebook, Media, Yale School of Management, Publishers, Scripps School of Journalism, Ohio University Locations: OpenAI
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