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A view of the turbines at Orsted's offshore wind farm near Nysted, Denmark, September 4, 2023. The world's largest offshore wind farm developer has made a final investment decision on Revolution Wind, Orsted said in a statement, adding that it is expected to be completed by 2025. Development of the wind projects had been adversely affected by supply chain issues, increased interest rates and a lack of an OREC (offshore renewable energy certificate) adjustment on it's Sunrise Wind project, the company said. "Significant adverse developments from supply chain challenges, leading to delays in the project schedule, and rising interest rates have led us to this decision," Orsted chief executive officer Mads Nipper said. In August, Orsted said it may see U.S. impariments of $2.3 billion due to supply chain problems, soaring interest rates and a lack of new tax credits.
Persons: Tom Little, Orsted, Mads Nipper, Joe Biden, Gursimran Kaur, Christian Schmollinger, Michael Perry Organizations: REUTERS, U.S, Thomson Locations: Nysted, Denmark, Bengaluru
A view of the turbines at Orsted's offshore wind farm near Nysted, Denmark, September 4, 2023. Orsted, the world's largest offshore wind developer, said in August it may see impairments of 16 billion Danish crowns ($2.3 billion) on its U.S. offshore developments due to supply chain problems, soaring interest rates and a lack of new tax credits. Norway's Equinor (EQNR.OL), BP's partner on those New York offshore wind developments, booked a $300 million impairment on the projects on Friday. In Massachusetts, two offshore wind developers, SouthCoast Wind and Commonwealth Wind, agreed to pay local utilities to terminate deals that would have delivered around 2,400 MW of energy. Avangrid also canceled a contract to sell power in Connecticut from its proposed 804-MW Park City offshore wind farm.
Persons: Tom Little, Denmark's, Joe Biden, Orsted, Jacob Pedersen, Portugal, France's, Avangrid, Scott DiSavino, Louise Breusch Rasmussen, Ron Bousso, Jonathan Oatis, Josie Kao Organizations: REUTERS, BP, U.S, Analysts, Reuters, Commonwealth, Shell, Energias, Thomson Locations: Nysted, Denmark, U.S, Danish, New York, Massachusetts, Connecticut, Rhode Island and Massachusetts, In Massachusetts, Commonwealth, Spanish, Copenhagen, London, Bengaluru
Six of the 11 major S&P 500 sectors were trading lower, with information technology (.SPLRCT) leading losses. Pfizer's shares (PFE.N) fell 1.5% after the drugmaker reported its first quarterly loss since 2019. U.S. equities are tracking their third straight month in the red, with the S&P 500 (.SPX) and the Nasdaq (.IXIC) on course for their worst October since 2018. The Fed kicks off a two-day monetary policy meeting on Tuesday. The Fed's commentary on Wednesday would be crucial in assessing how long monetary policy could stay restrictive amid recent signs of economic strength.
Persons: Brendan McDermid, Andrew Hunter, Amruta Khandekar, Shashwat Chauhan, Saumyadeb Chakrabarty, Shounak Dasgupta, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Corp, Dow, Nasdaq, Federal, Nvidia, Microsoft, Caterpillar, Chicago PMI, Capital Economics, Dow Jones, PDD Holdings, VF Corp, Vans, Arista Networks, Sarepta Therapeutics, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru
VIRGINIA BEACH, Va. (AP) — A power company's plans for an enormous offshore wind farm off Virginia's coast gained key federal approval Tuesday after the Biden Administration evaluated the project's potential impact on the environment. The utility will still need federal approval of its construction and operation plans before more pilings rise above the Atlantic Ocean. Dominion said its project will be the largest offshore wind farm under development in the United States. The administration said it wants to build 30 gigawatts of offshore wind energy by 2030 — enough to power more than 10 million homes. The Southern Environmental Law Center cited the importance of offshore wind for cutting carbon pollution, which fuels climate change.
Persons: what's, , Deb Haaland, Joe Biden's, Glenn Youngkin, Will Cleveland, Michael Town, Organizations: Biden Administration, Dominion Energy, of Ocean Energy Management, Dominion, Interior Department, Republican Gov, Southern Environmental, Virginia League of Conservation Voters Locations: VIRGINIA BEACH, Va, Virginia's, Atlantic, Virginia Beach, United States, Virginia
Murphy said Orsted was facing the same supply chain, inflation and other challenges that competitors in the offshore wind industry face. The decision was the latest in a series of setbacks for the offshore wind industry in the northeast. A handful of other offshore wind projects have been canceled. And New Jersey still has several other offshore wind projects in various stages of development, with four new proposals submitted in August alone. The White House in statement Tuesday night noted that in just the past week several investments in offshore wind had been made.
Persons: Orsted, Biden, Mads Nipper, ” Nipper, Phil Murphy, Murphy, , , Republicans —, Jeff Tittel, ” Michael Kikukawa, White, Wayne Parry Organizations: CITY, New, New Jersey Gov, Democratic, Republicans, Sierra Club, Dominion Energy, Dominion, Shell, EDF Renewables Locations: N.J, Danish, New Jersey, United States, Connecticut, Rhode Island, East, New York, Massachusetts, Spanish, Virginia, Virginia Beach, U.S, Atlantic Shores, EDF Renewables North America, www.twitter.com
The Interior Department on Tuesday approved a plan to install up to 176 giant wind turbines off the coast of Virginia, clearing the way for what would be the nation’s largest offshore wind farm yet. The Coastal Virginia Offshore Wind project, to be built by Dominion Energy, is the fifth commercial-scale offshore wind project approved by the Biden administration. The decision comes at a perilous time for the offshore wind industry. To fight climate change, the Biden administration wants to install 30 gigawatts of offshore wind power in the United States by 2030. In New York, the developers of four proposed offshore wind farms recently asked the state for more money before moving forward.
Persons: Biden Organizations: Interior Department, Dominion Energy, Commonwealth, York Locations: Virginia, United States, Pacific, Massachusetts, New York
The Apple-Picking Apocalypse of Upstate New York
  + stars: | 2023-10-31 | by ( Elizabeth G. Dunn | ) www.nytimes.com   time to read: +1 min
It was a beautiful Friday afternoon in the Hudson Valley, 70 degrees in October and not a cloud in the sky: perfect weather for apple picking. A small crowd awaited a pig race, some of them clutching little checkered flags they had purchased for a dollar. “That’ll be eight weekends in a row,” Mr. Barton said. “It’s absolutely, absolutely unheard-of.”According to Mr. Barton, this has been, without question, the most miserable fall tourism season since he converted the family apple orchard to a pick-your-own outfit in the 1990s. In recent years, he said, the property has drawn more than 10,000 visitors on peak weekends.
Persons: Peter Barton, “ That’ll, Mr, Barton, Organizations: Barton Orchards Locations: Hudson, Barton, Poughquag, Beacon
“If we put our hands up, we will have a food crisis in Israel.”The Israel-Hamas war has plunged Israel’s agricultural heartlands, located around the Gaza Strip and in the north near the Lebanese and Syrian borders, into crisis. Meanwhile, farms in the north produce 40% of the country's sub-tropical fruit and 70% of its eggs, the Agriculture Ministry said. It also plans to build greenhouses to make up for potential shortages, construct hundreds of bomb shelters near farms and support volunteer efforts to fill labor gaps. Before the war, roughly half of Israel's agricultural workforce was composed of foreign and Palestinian labor. As Israel calls 360,000 reservists up for military service, posts from pickers to truck drivers have been left abandoned, the Agriculture Ministry says.
Persons: Avi, , , Chivivian, Uri Dorman, Dorman, Yated, , I’m, Ben Assayag, it’s, Liad Vaknin, ” Vaknin, Marcelo, Wasser, “ I’m, ” ___ Frankel Organizations: Agriculture Ministry, Israel Farmers, West Bank, Israel’s Dairy, ” Volunteers Locations: ASHKELON, Israel, Gaza, Yated, Lebanese, Turkey, Haifa, Jerusalem, overdraft, Thailand, Rwanda, Ashkelon, Nirim, Argentina
NFL trade roundup: Commanders sell; Vikings add QB Josh Dobbs
  + stars: | 2023-10-31 | by ( ) www.reuters.com   time to read: +10 min
ET deadline:--The Minnesota Vikings acquired quarterback Josh Dobbs and a 2024 seventh-round pick from the Arizona Cardinals for a 2024 sixth-round draft choice. --The Vikings also dealt left guard Ezra Cleveland to the AFC South-leading Jacksonville Jaguars in exchange for a sixth-round draft pick, per multiple reports. Cleveland was a second-round draft pick by the Vikings in 2020, and he started all 17 games in both 2021 and 2022. Cleveland was a second-round draft pick by the Vikings in 2020, and he started all 17 games in both 2021 and 2022. --The Buffalo Bills acquired veteran cornerback Rasul Douglas and a fifth-round draft pick from the Green Bay Packers in exchange for a third-rounder on Tuesday, NFL Network and The Athletic reported.
Persons: Joshua Dobbs, Matt Kartozian, Montez Sweat, Chase Young, Josh Harris, Young, Nick Bosa, Bosa, Washington, Jonathan Allen, Daron Payne, Josh Dobbs, Kirk Cousins, Dobbs, Kyler Murray, Ezra Cleveland, Dalton Risner, Donovan Peoples, Jones, Dan Campbell, Rasul Douglas, Douglas, Tre'Davious White, Jordan Love's, Aaron Rodgers Organizations: Arizona Cardinals, Baltimore Ravens, Washington Commanders, NFL, Chicago Bears, San Francisco 49ers, Young, NBA's Philadelphia 76ers, Washington, 49ers, Ohio State, Minnesota Vikings, Vikings, The Cleveland Browns, Cardinals, Arizona, Pittsburgh Steelers, Tennessee Titans, AFC, Jacksonville Jaguars, Denver Broncos, Detroit Lions, Browns, Peoples, Michigan, Lions, Cleveland, Buffalo Bills, Green Bay Packers, NFL Network, The Athletic, Packers, AFC East, Thomson Locations: Glendale , Arizona, USA, Young's, Ohio, Arizona, Minnesota, Cleveland, Detroit, Green, Buffalo
Rodriguez and her four siblings grew up working on the farm and selling its products at farmers markets back in the city. Farm to operating tableThough she's close with her family, it was difficult breaking the news to her parents that she didn't want to continue working on the farm beyond high school, Rodriguez says. Her parents helped some, and she applied for scholarships, allowing Rodriguez to earn her bachelor's without taking on student debt. In fact, working with patients is one of the highlights of her work. How she spends her moneyEven after paying off her debt, Rodriguez has continued to save around 50% of her income.
Persons: Rodriguez, Chabely Rodriguez, Liam Mays, hasn't, CAAs, Andrea Desky, they're, undergrad, hustled, Donald Trump, I've, Gene Kim, HBO Max, she's Organizations: CNBC, CAA, Brooklyn College, District of Columbia, Nova Southeastern University, Housing, HBO, Toyota Corolla, YouTube Locations: Tampa , Florida, New York, Mexico, Brooklyn, Florida, Fort Lauderdale , Florida, anesthesiology, Costa Rica
A new generation of mathematical modelers might be able to help defuse a looming insurance crisis. Floods, electrical storms and wildfires, together with raw-material inflation, are pushing up premiums for so-called catastrophe insurance. Some Americans are moving away from riskier places such as Florida, while others are foregoing cover. Insurers such as Allstate , State Farm and Farmers Insurance, owned by Zurich Insurance Group , are withdrawing from disaster-prone areas.
Organizations: Allstate, State Farm, Farmers Insurance, Zurich Insurance Group Locations: Florida
A spokesman for the Maryland Insurance Administration declined to comment. The dispute reveals how a long-used insurance industry technique, ostensibly aimed at managing risk, can open the door to bias. As they evaluate a customer, agents are expected to decide whether a potential customer seems honest or reliable, or judge how tidy or well maintained their home is. “There are all kinds of conscious and unconscious biases involved.”Insurers have also been accused of discriminating against Black and Hispanic customers in other ways. But the accusation against Erie is that its policies kept Black and Hispanic homeowners out of its customer rolls in the first place.
Persons: Matthew Cummings, , Daniel Schwarcz Organizations: Maryland Insurance, University of Minnesota Law School, State Farm, Erie Locations: Erie, Chicago
As of Monday morning, 118 aid trucks with food, water and medical supplies have entered Gaza through the Rafah crossing. The Israel military says there are fuel supplies in Gaza being held by Hamas which are not being distributed for humanitarian purposes, CNN reported. Gaza cannot produce food or clean water without electricity or fuel. The power plant ran out of fuel two weeks ago, and the country has had to rely on generators for electricity. The 140-square-mile enclave, blockaded by Israel since 2007, relies heavily on imported fuel and electricity to run all its services.
Persons: Israel, Khan Younis, Deir Organizations: CNN, United Nations Relief, Works Agency, UN, Hamas, World, World Health Organization Locations: Gaza, Rafah, Israel, Khan, Gaza’s, Deir al, Qatar
Gavin Newsom plowed into a student while playing basketball in China. On Friday, Newsom and his wife, Jennifer Siebel Newsom, visited the Beijing Yuying School. As part of his official duties, he toured the school's farm-to-school and agricultural science programs, a representative for Newsom told Insider. California Governor Gavin Newsom accidentally topples little kid during pickup game of basketball in Beijing. We are interdependent," Newsom told Amanpour.
Persons: Gavin Newsom, Newsom, , Gavin Newsom's, Jennifer Siebel Newsom, Mike Sington, Xi Jinping, Xi, CNN's Christiane Amanpour, Amanpour Organizations: Service, Beijing Yuying School, Economic Cooperation, Politico Locations: California, China, Beijing, Hong Kong, Shanghai, Guangdong, Jiangsu, Asia, San Francisco
Australia, EU trade deal likely years away after talks fail
  + stars: | 2023-10-30 | by ( ) edition.cnn.com   time to read: +2 min
Canberra — Australia has rejected European Union proposals for a free trade agreement, and a deal is now unlikely to be reached for several years, Australian government ministers said Monday. “I came to Osaka with the intention to finalize a free trade agreement,” Farrell said in a statement. “We just weren’t able to see the EU increase its offer for things like beef, sheep, dairy, sugar enough for us to think that this deal was in Australia’s national interest,” he told ABC Radio. The EU signed a trade deal with New Zealand last year that lowered tariffs for EU exports including clothing, chemicals and cars, and allowed more New Zealand beef, lamb, butter and cheese into the EU. “It’s disappointing the Europeans weren’t willing to put something commercially meaningful on the table,” National Farmers’ Federation President David Jochinke said in a statement.
Persons: Don Farrell, , ” Farrell, , Murray Watt, , Valdis Dombrovskis, Australia’s Watt, “ It’s, David Jochinke Organizations: Canberra, EU, Australian Trade, Australia, ABC Radio, New Zealand, National Farmers ’ Federation Locations: Australia, Europe, Osaka, New Zealand, Canada, South America, Zealand
The two sides have been negotiating since 2018, with Australia eager to boost agricultural exports by removing EU tariffs and expanding quotas, and Europe likely to gain greater access to Australia's critical minerals industry. "I came to Osaka with the intention to finalise a free trade agreement," Farrell said in a statement. "Negotiations will continue, and I am hopeful that one day we will sign a deal that benefits both Australia and our European friends." Watt said it would be some time before the Australian government and EU leadership would be able to negotiate a deal because of upcoming elections in EU. The EU signed a trade deal with New Zealand last year that lowered tariffs for EU exports including clothing, chemicals and cars, and allowed more New Zealand beef lamb, butter and cheese into the EU.
Persons: Don Farrell, Valdis Dombrovskis, Farrell, Murray Watt, Watt, David Jochinke, Peter Hobson, Gerry Doyle Organizations: CANBERRA, EU, Australian Trade, Australia, ABC Radio, New Zealand, Farmers ' Federation, Thomson Locations: Australia, Europe, Osaka, EU, Australian, New Zealand, Canada, South America, Zealand
In remote locations, 5G-powered tech is helping farmers produce crops with the support of experts. Smart farming was introduced into Japanese agriculture in 2020 by NTT AgriTechnology in Chōfu City, Tokyo, for a three-year project. This helps farmers monitor crops for disease and create a harvesting timeline while navigating conditions that can change daily. The next steps for 5G farming involve broadening the scale of these projects so that farmers can monitor more fields at a time, Ahmed and Masakuza said. To do that, companies and local governments will need to continue investing in private, local 5G networks, they added.
Persons: , Abe Masakuza, Masakuza, Shahid Ahmed, Ahmed, NTT Ahmed Organizations: Private 5G, Service, Agriculture, Forestry, Smart, NTT AgriTechnology, Nippon Telegraph, Telephone, NTT, Hokkaido University, 5G, Farmers, Chōfu, Private Locations: Japan, Chōfu City, Tokyo, Tachikawa , Tokyo, Iwamizawa, Northern Japan
A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The Bank of England and the Bank of Japan would also be announcing their verdict on rates later in the week. Of the 245 companies in the S&P 500 that have reported earnings so far, 77.6% have beaten earnings estimates, as per LSEG data. ET, Dow e-minis were up 188 points, or 0.58%, S&P 500 e-minis were up 25 points, or 0.6%, and Nasdaq 100 e-minis were up 101 points, or 0.71%. Reporting by Amruta Khandekar and Shashwat Chauhan in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Susannah Streeter, Hargreaves Lansdown, Eli Lilly, Amruta Khandekar, Shashwat Chauhan, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Nvidia, Hargreaves, U.S . Treasury, Bank of England, Bank of Japan, Apple, Pfizer, Dow e, Thomson Locations: New York City, U.S, Gaza, United States, Bengaluru
After the violent struggle with his attacker, Kunwong was left for dead, heavily bleeding from the wound in his throat. He was eventually found and cared for by other migrant workers. ‘Business as usual’ for Thai workers, aid groups sayThe Thai government has called for the release of all remaining citizens being held in Gaza. So far at least 33 Thai nationals have been killed, according to figures shared by Thai authorities with CNN – with 18 Thai nationals still being held hostage as of October 26. Families told CNN that, despite the conflict in Israel, Thai migrant workers were under pressure to honor contracts specifying minimum five years of labor – a heavy price to pay to support their families back home.
Persons: Kunwong, , , has, Thais, Yahel Kurlander, Kurlander, ” Kurlander, Lillian Suwanrumpha, Benjamin Netanyahu, Parnpree Bahiddha, Nukara, Zohar Shvartzberg, AAW, Manee Jirachart, CNN Kunwong, Manee, Chumporn Organizations: Thailand CNN, CNN, Israeli Government Press Office, Hamas, Hai, Getty, UN, Thai, Jobs, Families, Agricultural Workers Locations: Udon Thani, Thailand, Israel, Gaza, Palestinian, Nepal, Philippines, Israel’s, Thai, Tel, Bangkok, AFP, Tel Aviv
Plan to Hike Electric Bills 29% Sparks Fury in Wyoming
  + stars: | 2023-10-29 | by ( Dan Frosch | ) www.wsj.com   time to read: 1 min
The green-energy transition ready for take off in the U.S. is facing a serious obstacle: the permitting process. WSJ takes you inside the country’s soon-to-be largest wind farm to understand the regulatory gauntlet delaying clean energy for millions. Photo illustration: Getty Images/Amber BragdonFor years, people in Wyoming have been accustomed to paying some of the lowest electricity prices in the U.S., despite harsh winters and a rugged landscape. Now a 29% hike proposed by the state’s largest utility has residents and local leaders up in arms. Many in Wyoming, which leads the nation in coal production, are aiming their fury at renewable power.
Persons: Amber Bragdon Locations: U.S, Wyoming
They had met as boys in the scouts group called Plast, in the western city of Lviv, and forged bonds over mountain hikes, sunburns, scratched knees and bug bites. Friends called him “Kurka,” Ukrainian for chicken, because of the mop of curly hair he styled into a mohawk as a youth. But he was also deeply invested in seeing his small home village near the city thrive, and hoped to start a small farm there. Roman Lozynskyi studied political science in Lviv and got into local politics before spending time as an intern in the Canadian Parliament. He was elected to the Ukrainian Parliament in 2019, and had started to split his time between Kyiv, the capital, and Lviv.
Persons: Artem, Dmytro, Artem Dymyd, Kurka, Dmytro Paschuk, Roman Lozynskyi Organizations: Roman, French Legion, Canadian Locations: Lviv, Ukrainian, Kyiv
Three years apart in age, the brother and sister grew up in a tiny village in eastern Poland, helping out on the family farm and going to church each Sunday under pressure from their parents. Today, the siblings, Monika Zochowska, 38, and her brother, Szymon, 41, are separated by a wide gulf opened by politics and outlook — examples of the many chasms cleaving Poland as it wrestles with the results of a recent general election that handed a narrow majority in Parliament to opponents of the nationalist governing party. Monika and Szymon stand on opposite sides of perhaps the deepest of those divides: the gap between villages and small towns, which voted heavily for nationalist forces, and urban centers, which gave overwhelming support to their more centrist and liberal opponents, notably Civic Coalition, the main opposition party.
Persons: Monika Zochowska, Szymon, Monika Organizations: Civic Coalition Locations: Poland
But for companies like Soergel Orchards in western Pennsylvania, a slowdown is nowhere in sight. “People love to pick — people will pick anything.”Sales are up even though a string of rainy weekends have held back attendance at the farm’s annual fall festival. And the owners are bracing for a strong season in their store selling Christmas decorations. Consumer demand has unexpectedly boomed in 2023, defying widespread expectations for a slowdown and helping to fuel strong overall growth. The economy expanded at an eye-popping 4.9 percent annual rate in the third quarter, far faster than the roughly 2 percent pace officials at the Fed think of as its standard growth pace.
Persons: , Amy Soergel Organizations: Federal Reserve, Consumer Locations: Pennsylvania
(AP) — After being in office for over a decade, Mississippi state Sen. Dean Kirby got challenged in the Republican primary. More than four-fifths of Mississippi's legislative candidates will have no major-party opposition in the Nov. 7 general election. And more than half of this year's winners will have faced no other Republicans or Democrats in either the primary or the general election. Though Mississippi represents an extreme example, it highlights a national decline in competition for state legislative seats. The DLCC is spending a few thousand dollars this year on several legislative races in the largely uncompetitive Republican-leaning states of Mississippi and Louisiana.
Persons: JACKSON, Sen, Dean Kirby, Kirby, Jackson, , ” Kirby, , Steven Rogers, ” Rogers, Rogers, Joe Biden, Abhi Rahman, ” Rahman, Barbara Blackmon, Ed Blackmon, Bradford Blackmon, Lawrence Blackmon, . Sen, Robert Jackson’s, Reginald Jackson, Andy Berry, Berry, he's, ” Berry, ___ Lieb Organizations: Republican, Democratic, Saint Louis University, The Associated Press, Ballotpedia, State Legislatures, Republicans, Democratic Legislative, , Three Democratic, Senate, Bradford, Mississippi Cattlemen’s Association, Mississippi Beef Council Locations: Miss, Mississippi, Though Mississippi, In Mississippi, State, Louisiana, New Jersey, Virginia, Jackson, Jefferson City , Missouri
Energy Secretary Jennifer Granholm will be in Arizona to talk about power grid and clean energy investment in the rural Southwest. Veterans Affairs Secretary Denis McDonough plans to visit Iowa to discuss improving access to medical care for veterans in rural areas. Health and Human Services Secretary Xavier Becerra will be in North Carolina talking about health care access in rural areas. Acting Labor Secretary Julie Su will be in Pennsylvania to discuss boosting employment opportunities in rural areas. U.S. Trade Representative Katherine Tai will head to Indiana to discuss how international trade can benefit rural farmers and producers.
Persons: Joe Biden, Dean Phillips of, Biden, Phillips, Tom Vilsack, White, Vilsack, Deb Haaland, Jennifer Granholm, Denis McDonough, Isabel Guzman, Miguel Cardona, Xavier Becerra, Julie Su, Katherine Tai Organizations: WASHINGTON, Democratic Rep, Dean Phillips of Minnesota, Administration, White, Smart Commodities, Agriculture Department, Farmers of, Energy, Southwest . Veterans, Small Business Administration, Education, Human Services, Labor, U.S . Trade Locations: Minnesota, America, Indiana, Farmers of America, Wyoming, Colorado, New Mexico, Arizona, Southwest, Iowa, Georgia, New Hampshire, North Carolina, Pennsylvania, U.S
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