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Sparking controversy is language within the USMCA that covers how a product gains the "Made in Mexico" designation from U.S. Customs. There is bipartisan concern about Mexico serving as a trade "back door" for Chinese exports to evade tariffs. Trump threats not slowing trade boom Trump has said he wants to renegotiate the USMCA deal he struck with the North America partners in 2020. Chinese manufacturing in Mexico will be a likely part of the trade renegotiation. Threats of additional tariffs are not slowing down trade with Mexico.
Persons: Donald Trump, Zekelman, San Luis Potisi, Jordan Dewart, Biden, Trump, Mary Lovely, Anthony Solomon, Dewart Organizations: U.S . Customs, Zekelman Industries, Bloomberg, Getty, Peterson Institute for International Economics, Trump, North America, Companies, DHL, Uber, Moody's Analytics Locations: United States, Mexico, Canada, U.S, North America, Republic of Mexico, Beach, Calif, Chicago, San Luis, Luis Potisi, Redwood Mexico, China, Mexican, El Paso, Laredo , Texas, East Asia
CNN —Former Abercrombie & Fitch CEO Michael Jeffries pleaded not guilty to a 16-count indictment at his arraignment in a New York federal court on Friday. Jacobson was employed by Jeffries and Smith to recruit, interview and hire men to perform commercial sex acts for Jeffries and Smith, according to the indictment. His attorneys did not comment as they left the courtroom, and Jeffries is due back in court on December 12. Jefferies stepped down as CEO of Abercrombie & Fitch in December 2014, having run the company since 1992. “As we shared when the accusations were first made public in October 2023, we are appalled and disgusted by the alleged behavior of Mr. Jeffries, whose employment with Abercrombie & Fitch Co. ended nearly ten years ago,” Abercrombie & Fitch said in a statement Wednesday.
Persons: Michael Jeffries, Jeffries, He’s, Matthew Smith, , Smith, James Jacobson, Jacobson, Jefferies, ” Abercrombie, Fitch, Gingras, Kara Scannell, Laura Dolan, John Towfighi Organizations: CNN, Abercrombie, Fitch, , Eastern, of, Abercrombie & Fitch, Abercrombie & Fitch Co Locations: New York, New York City, Long, Florida, Peace, of New York, West Palm Beach , Florida, Rice Lake , Wisconsin
“It kept these players alive that couldn’t survive in normal situations.”Competition from juggernauts like Amazon, Walmart, Costco, Home Depot and other big-box retailers has also squeezed smaller chains. In 2017 and 2018, retailers closed a combined 13,400 stores, according to Coresight. Retailers closed a record 9,800 stores in 2019. Around 9,700 stores closed in 2020, according to Coresight. Drug store chains are also shrinking.
Persons: , , Michael Brown, Kearney, ” Brown, Barbara Kahn, Charlotte Russe, Shopko, Ted Decker, Joann Fabric, Denny’s, Kelli Valade, Justin Sullivan, Amazon’s, It’s, ” Kahn, TJ Maxx, TJX Organizations: New, New York CNN, Walgreens, Research, Companies, Consumers, , Walmart, Costco, Home, ” Retailers, United, University of Pennsylvania’s Wharton School, Coresight, Retailers, Sears, P Global Market Intelligence, CVS, Aid, Marshalls, Aldi Locations: New York, , Amazon, United States, Gymboree, JCPenney, Tijuana, HomeGoods
If you’re in a similar situation, you can peruse my list of the best gifts for someone you don’t know. SKIP AHEAD The best gifts for someone you don’t know in 2024 | Why trust NBC Select? Stationery sets and notebooks are some of our go-to items when it comes to buying gifts for someone you don’t know. One of the best gifts I’ve ever received is this reusable water bottle from Hydro Flask. I’m an associate reporter covering skin care and hair care and frequently write about new products for NBC Select.
Persons: I’ve, , Rebecca Rodriguez, “ I’ve, I’m, Zoe Malin, Lindsay Schneider, Malin, , that’s, terry, Frank Stella, Schneider, Goetz, They’re, Le Creuset, Le, Cory Fernandez, Mili Godio, wicks, Fernandez, TikTok Organizations: NBC, Le, Stationery, Nordstrom, Facebook, Twitter
After months of that mounting pressure — plus an investor lawsuit — Stellantis confirmed that Tavares would retire after his contract expires in early 2026. A Stellantis spokesperson said the investor lawsuit is without merit, and the company plans to "vigorously defend itself." "If a customer has an older Stellantis product, the odds of buying a new one are very, very diminished, especially compared to the rest of the industry," Drury said. Stellantis, in return, has filed a lawsuit accusing the union of violating the contract with its strike authorization votes. AdvertisementAfter a historic strike at all three Detroit car companies last fall, the UAW won the right to strike over product commitments.
Persons: Carlos Tavares, Tavares, , Stellantis, — Stellantis, Kevin Farrish, Dave Kelleher, Kelleher, Jeep, Dodge, Ivan Drury, Edmunds, Drury, Carlos, Shawn Fain Organizations: Investors, Service, Fiat Chrysler Automobiles, France's PSA Groupe, United Auto Workers, UAW, Chrysler, Dodge, Stellantis, Renegade, Cherokees, Hyundai, Cox Automotive, Detroit, Cherokee Locations: North America, Portuguese, Pennsylvania, Illinois
(Photo by: Lindsey Nicholson/UCG/Universal Images Group via Getty Images)United Parcel Service surpassed Wall Street estimates for quarterly profit and raised its full-year adjusted operating margin forecast on Thursday after it hived off its volatile truckload brokerage business, Coyote Logistics. The company had slashed its full-year adjusted operating margin target to 9.4% in July, despite an uptick in U.S. volumes because of the shift. It now expects a full-year operating margin of 9.6%. UPS saw a 6.5% growth in average daily volumes in its domestic segment in the third quarter. Its adjusted operating margin of 8.9% was above last year's 7.7%, on cost cuts.
Persons: Lindsey Nicholson Organizations: UPS, Getty Images, United Parcel Service, Wall, Coyote Logistics, U.S . Postal Service, Consolidated, United States Postal Service, FedEx Locations: Queens , New York, U.S, China
In the battle of the tech giants, Wall Street firm Bernstein favors Meta Platforms over Alphabet . The analysts raised their Meta price target to $675 per share from $600 and kept their outperform buy rating on the stock. Bernstein acknowledged the valuation of Meta stock versus Alphabet "feels stretched" at the moment. Big picture Bernstein's bullish assessment of Meta's future growth prospects comes as the stock has significantly outperformed both the overall market and Alphabet. META YTD mountain Meta Platforms YTD Before Wednesday's 3% drop in an ugly market, Meta closed Tuesday just 2% off its record close of $595.94 on Oct. 4.
Persons: Bernstein, Meta, Shein, we're, Jim Cramer's, Kamala Harris, Jim, Jim Cramer Organizations: Wall, Google, Meta, Adobe, Facebook, CNBC Locations: Wednesday's, U.S
Fast-moving fashion micro-trends on social media can drive impulsive spending. A novel aesthetic or "-core" circulates on social media every few weeks, prompting consumers to buy in. 'The perfect profitability storm'Fast fashion, social media, and retailers like Shein have together created "the perfect profitability storm for the businesses and influencers using them," said Anthony Miyazaki, a marketing professor at Florida International University. Along with social media algorithms, micro-trends are being fueled by the cycle of doom spending: buying unnecessary stuff to feel better. "While it's easy to get caught up in what others are doing, it's important to remember that not everything is as it seems on social media," she said.
Persons: , it's, Anthony Miyazaki, Miyazaki, Instagram, Tubefilter, Shein, Elysia Berman, Berman, TransUnion, Dan Pallesen, Pallesen, Bill Ryze, Ryze, Julie Guntrip, influencers, Guntrip, Baeckström Organizations: Service, King's Business School, Florida International University, Federal Reserve, Jenius Bank Locations: London
Amazon Prime wants to help you save on gas
  + stars: | 2024-10-24 | by ( Erika Tulfo | ) edition.cnn.com   time to read: +3 min
CNN —Prime members can now add “fuel discounts” to their ever-growing list of benefits. Members can avail themselves of the discount by linking their Amazon account to Earnify, a loyalty program app by BP. Amazon’s newest savings benefit could alleviate some of that potential grief for its over 184 million Prime subscribers. How Amazon is retaining its leadFuel and energy probably isn’t the first sector to come to mind when you think of Amazon, but analysts say that the recent inclusion of gas savings doesn’t come as too much of a surprise. “Other retailers are still playing catch up to Amazon, and Amazon wants to retain its lead,” Saunders said.
Persons: , Neil Saunders, Saunders, Wayfair’s, ” Saunders Organizations: CNN, Amoco, BP, GlobalData, Walmart, that’s, Target
In this article KSSNKE Follow your favorite stocks CREATE FREE ACCOUNTAn exterior view of the Kohl's store at the Paxton Town Centre near Harrisburg. 1 active footwear retailer among all four generational cohorts polled for the survey: Gen Z, millennials, Gen X and boomers. 1 department store choice among Gen Z and boomers, while millennials chose Nordstrom and Gen X chose Macy's . "We would see in the data what's important to the Nike consumer. The majority of consumers surveyed, or 66% of respondents, said they'll shop at a different retailer if the product they're looking for isn't in stock.
Persons: Paul Weaver, Emily Elconin, AlixPartners, Z, Gen X, Gen Z, Kohl's, millennials, Nordstrom, Elliott Hill, Sonia Lapinsky, it's Organizations: Nike, Bloomberg, Getty, Adidas, CNBC Locations: Paxton, Harrisburg, Kohl's
New York CNN —Goldfish crackers are synonymous with hungry kids, but the company is betting that a sophisticated name change could expand that audience. The Pepperidge Farm snack brand is tweaking its name for a limited time to “Chilean Sea Bass,” a more grown-up title, the Campbell’s Company announced Wednesday. So, as a playful reminder, we went ahead and gave our iconic cheddar cracker a new, fun, grown-up name,” Danielle Brown, vice president of Goldfish, told CNN. But the Chilean Sea Bass snacks won’t appear on shelves: Bags featuring the branding are only being sold online beginning Wednesday and just for one week. Pepperidge Farm launched Goldfish in the United States in 1962 initially aimed at adults as a bar snack.
Persons: Gen Z, , they’re, ” Danielle Brown, Nate Rosen, Campbell, snacking, ” Rosen Organizations: New, New York CNN, Campbell’s Company, CNN, Express Locations: New York, snacking, Chilean, United States, upstarts, Utah
CNN —An E. coli outbreak linked to McDonald’s Quarter Pounders has led to at least 49 illnesses across 10 states, including one death. Diced onions and other types of beef patties used at McDonald’s have not been implicated in this outbreak, the FDA said. E. coli infections can be seriousEscherichia coli, or E. coli, is a common bacteria, but certain types can make you sick. People with E. coli infections may have symptoms including severe stomach cramps, diarrhea, fever and vomiting. A few illnesses, including E. coli infections, are well above federal targets for reducing foodborne illness.
Persons: Sysco, Taylor, , Burger, Joe Erlinger, Erlinger, ” McDonald’s, Dr, Sanjay Gupta, Listeria, Boar’s, BrucePac, Nadia Kounang, Carma Hassan, Brenda Goodman, Meg Tirrell Organizations: CNN, US Centers for Disease Control, Food and Drug Administration, CDC, FDA, Taylor Farms, Foods, Taco Bell, KFC, Brands, Burger King, Taylor, McDonald’s, USA, CNN Health Locations: – Colorado , Kansas , Utah, Wyoming, Idaho , Iowa , Missouri, Montana , Nebraska , Nevada , New Mexico, Oklahoma, Taylor Farms Colorado, Burger, ’ Colorado, Colorado and Nebraska, Iowa , Kansas , Missouri, Montana , Oregon , Utah , Wisconsin, McDonald’s
“We are a positive, inclusive brand, with a nice sensibility, very different from what they encountered in the past,” Fran Horowitz, now Abercrombie’s CEO, said in 2016. Today, Abercrombie’s stores are lighter than they once were and its clothes are looser. Abercrombie’s sales have grown and its stock has increased more than 400% since Jeffries stepped down as CEO. But retail analysts say that Abercrombie’s brand won’t be hurt by the indictment because of how much separation Abercrombie has been able to create from its former CEO. Older Abercrombie customers who remember the brand’s sexualized marketing have accepted Abercrombie’s rebrand, while a new generation of customers are too young to remember the old era.
Persons: Fitch, Mike Jeffries, Jeffries, Abercrombie, , ” Fran Horowitz, Jeffries ’, , ” Jeffries, Fran, Marni Shapiro, Neil Saunders, Shapiro, Papa John’s, Shaq, John Schnatter, Chip Wilson, Wilson, Lululemon, CNN’s Brynn Gingras, Kara Scannell, John Towfighi Organizations: New, New York CNN, Abercrombie, Attorney, Eastern, of, XXL, Netflix, Fitch, Penske Media, GlobalData, CNN Locations: New York, Peace, U.S, of New York
Amazon is shutting down a service that offers same-day delivery from mall and brick-and-mortar retailers, CNBC has learned. Select retail partners will be able to continue fulfilling orders with Amazon Today through Jan. 24, 2025, Amazon told CNBC. The closure of Amazon Today is the latest example of the company’s broader cost-cutting efforts. Launched in 2022, Amazon Today allows retailers who sell on Amazon to offer speedy delivery from their brick-and-mortar stores and shopping malls in select cities. Amazon Today was part of the company’s push to get online purchases to shoppers’ doorsteps at faster speeds.
Persons: Andy Jassy, Jassy, Jeff Bezos, Amazon’s, , Kate Hudson, Organizations: CNBC, Amazon, Amazon Today, Employees, Flex, , Staples Locations: Jan
New York CNN —Target is slashing prices on more than 2,000 items, marking the second time this year that the retailer cut customer costs as it attempts to attract inflation-weary shoppers ahead of the holiday shopping season. Some prices have dropped effective immediately on a number of items, including home goods, beauty products, food, beverages and toys. In a press release, Target said it “routinely adjusts its prices to remain competitive in markets across the country” and the discounting will continue through December. In May, Target announced it was going to slash prices on 5,000 items but ended up surpassing that number, cutting prices on 8,000 products. However, there’s some good news for stores: Spending at US retailers climbed 0.4% in September from the prior month, according to government data released last week.
Persons: Organizations: New, New York CNN, Target, Walmart, Ikea, Aldi, Consumer Locations: New York
Here are some of the ways Bank of America analysts think the upcoming election results could affect the stock market. Harris presidency, split government A victory for Democratic candidate Kamala Harris in the White House, plus a Republican-controlled Congress, could be "the best outcome" for online media companies, according to Bank of America analyst Justin Post. He noted that Harris is likely to enforce a potential ban on TikTok — which could boost Meta Platforms and Snapchat . Trump president, split government A win for Republican candidate Donald Trump and a split government would be the best-case scenario for bank stocks, per analyst Ebrahim Poonawala. On the other hand, a Trump presidency would be viewed positively by gig-economy companies, including Uber and Lyft, according to analyst Post.
Persons: , Harris, Kamala Harris, Justin Post, Lorraine Hutchinson, Donald Trump's, , Athletica, Joanna Gajuk, Gajuk, Jessica Reif Ehrlich, Ehrlich, Jason Kupferberg, Kupferberg, Dick Durbin's, Donald Trump, Ebrahim Poonawala, Poonawala, Republicans —, Dimple, Trump, Uber, Craig Siegenthaler, Siegenthaler, Rafe Jadrosich, Trump's, — CNBC's Michael Bloom Organizations: White, Bank of America, of America, Democratic, Republican, Democrat, Department of Justice, Eagle Outfitters, Urban Outfitters ., Health, Tenet Healthcare, Universal Health Services, Democrats, Agilon, Humana, Big Tech, House, Trump, Republicans, Oscar Health, Centene, GOP, Securities, Exchange, Entertainment, Packaging Corporation of America, American Eagle Outfitters Locations: Hutchinson, U.S, China, Washington
Zomato's Blinkit, Zepto, and Swiggy, which runs the Instamart delivery service and is backed by SoftBank , did not respond to Reuters queries. India's biggest group of retail distributors has asked the antitrust authority to investigate three quick commerce companies — Zomato's Blinkit, Swiggy and Zepto — for alleged predatory pricing, a letter showed on Sunday. "Implement protective measures for traditional distributors and small retailers to safeguard their interests," it urged the Competition Commission of India. Annual sales on Indian quick commerce platforms are set to exceed $6 billion this year, with Blinkit having a nearly 40% market share, while Swiggy and Zepto around 30% each, research firm Datum Intelligence said. Reflecting the strength of the quick commerce sector, Zomato's shares have doubled this year and Swiggy will in the coming weeks will launch its over $1 billion IPO.
Persons: Zomato's, SoftBank, , Swiggy Organizations: India Consumer Products Distributors Federation, Nestle, Hindustan Unilever, Reuters, Competition Commission of India, Blinkit, Intelligence, Sunday Locations: India
At least four large YouTube channels devoted to firearms have announced they’re quitting the platform and moving to rival services with looser rules. YouTube, which is owned by Google, has for years imposed rules on gun videos. YouTube says gun videos are only one part of its enormous app. Responsible firearms content is just one part of this vibrant mix of communities,” the company said in a statement. A successful YouTube gun channel can make hundreds of thousands of dollars a year in ad revenue and sponsorships, Bloomberg News reported this year.
Persons: they’re, they’ve, ” Jon Patton, ” Patton, it’s, Attorney Alvin Bragg, Donald Trump, Matt Carriker, Carriker, YouTube’s, , , hasn’t, Alexander Reville, podcasters, “ You’ve, we’re, Guns.com, Joel Persinger, Chris Mijic, Persinger, “ GunTubers, ” Justin Wagner, Nick Fuentes, John Kinman, Greg, Greg Kinman, YouTube ”, we’ve Organizations: YouTube, Google, Bloomberg News, Gun Safety, Attorney, Trump, Firearms, NBC News, Safety Locations: Manhattan, California, Pennsylvania
Employers might not ask if you have a degree, but many still care, a labor market expert told BI. AdvertisementDeming said many employers look upon a worker with a four-year degree as an investment — one that can be molded into what the firm wants. "What people are looking for, because it's the easiest and laziest filter, is a four-year degree from a 'good school,'" he said. "He's been the finalist for five different positions where they said, 'You're actually the best candidate we interviewed, but we require a four-year degree,'" Hyams said. Often, that might mean a four-year degree.
Persons: , Ranji McMillan, that's, McMillan, She's, what's, McMillan David Deming, Deming, Mona Mourshed, Mourshed, Chris Hyams, Hyams, He's, Forsa, Gartner, Jon Lester, Lester, they've Organizations: Service, Ranji, McMillan, Harvard's Kennedy School, Glass, Harvard Business School, Census, McKinsey & Company, Boston Consulting Group, Employers, Workers, US Department of, Georgetown University Center, Education, Savvas Learning Company, IBM, BI, Research, McKinsey Locations: Northridge, Los Angeles, America
The author paid a company, Renewable Recycling, to pick up and recycle his queen-size mattress in New York City. Greg IacurciI paid $95 to recycle a mattress. Why mattress recycling can be expensiveShredded old mattress materials. Guillaume Souvant | Afp | Getty ImagesThe $95 fee I ultimately paid to Renewable Recycling is "pretty standard" among mattress recyclers, Conway said. For example, cotton remnants must be picked off steel mattress springs before it can be shredded or baled for sale to scrap markets, according to the Mattress Recycling Council.
Persons: Greg Iacurci, Alicia Marseille, Robert Brook, , Meg Romero, Charles, Mark Rightmire, Romero, Peter Conway, Conway, Guillaume Souvant, Charles County, " Romero, Staples, Reid Lifset, Amanda Wall, Wall Organizations: Renewable, U.S, Mattress, Arizona State University, MRC, Salvation Army, Goodwill, Freecycle, Recycling Inc, MediaNews, Orange, Getty, Spring, Afp, Yale School of, Colorado, Environmental Resources, Arizona State University Individuals, International Sleep Products Association Locations: New York City, Brooklyn, Charles County , Maryland, East Rockaway , New York, San Juan Capistrano , California, Spring Back Colorado, Commerce City, Colorado, Oceanside , New York, Charles, California, Mexico, Canada, India, Egypt, Texas, Marseille, — California, Connecticut, Rhode, Oregon, Rhode Island, New York , Massachusetts, Maryland, Virginia
The demise of a former trendsetterThe Bridgehampton store opened in 1999, taking the place of a former regional discount store, Caldor. When the retailer emerged from bankruptcy it still had 231 Sears and 191 Kmart stores, but those were also almost all doomed. A worker pushes a cart through the empty section in the Bridgehampton Kmart the size of a football field. Laura Oliverio/CNNSeth and Victoria Black say they will miss the Bridgehampton KMart when it closes for good this weekend. The demise of the chain, and the Bridgehampton store, brought back memories for the shoppers this week.
Persons: Shahlise Cherry, Deborah Arnone, It’s, she’d, Cherry, , what’s, Laura Oliverio, CNN Shahlise Cherry, , “ We’d, Sebastian Spering Kresge, Eddie Lampert, Lampert, CNN Jessica Cohan, CNN Bridgehampton, Sarah Bullock, Bullock, CNN Seth, Victoria Black, Victoria, CNN “, Jessica Cohan, Lucas, Smoky Joe, Seth Black Organizations: NY CNN, Kmart, RadioShack, Sears, Shoppers, CNN, Walmart, Sports Authority, Borders, Long, Target, Hamptons, KMart, Victoria Black Locations: NY, America, United States, Bridgehampton , New York, retailing’s, Miami, Virgin Islands, Guam, Detroit, Long, Riverhead, , Smoky
It found that standing for more than two hours a day may increase the risk of circulation issues. AdvertisementA few months into the pandemic, my husband bought us a convertible standing desk. We made small talk about how our new standing desks helped with our posture and prevented us from sitting all day. While some of my colleagues felt more energized standing at their desks for three hours, I did not. Ultimately, it suggests that if you're using a standing desk to feel more active and boost your health, the trick is to actually use it to move more, frequently standing and sitting.
Persons: , who've Organizations: Service, University of Sydney Locations:
Several hard-to-predict factors will influence consumers' spending, as they deck the halls and look for the perfect gifts. That's a more modest increase than the 3.9% year-over-year jump from the 2022 to 2023 holiday season, when spending totaled $955.6 billion. Shoppers expect to spend an average of $1,778 on the holidays this year, 8% more than last holiday season, according to consulting firm Deloitte's survey. SharkNinja CEO Mark Barrocas described the election as the "biggest unknown" that will shape the holiday season. A shorter holiday season
Persons: Michael M, Stephen Rogers, Mario Tama, Rogers, Matt Shay, it's, Lance Allen, Kamala Harris, Donald Trump, Scott Olson, Mark Barrocas, It's, Jen Acerra, Ed Bastian, Evan Gold, Gold, Jack Kleinhenz, Allen, they're Organizations: Herald, Santiago, Getty, Deloitte, National Retail Federation, Shoppers, Deloitte's Consumer Industry Center, Walmart, Catering, Home Depot, Democratic, Republican, Amazon, Delta Air Lines, CNBC, Hurricane Milton, Anadolu, Planalytics, Depot Locations: New York City, Burbank , California, Traverse City , Michigan, Florida, Clearwater, Philadelphia, San Francisco, North Carolina
Fall has become its own shopping season
  + stars: | 2024-10-19 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +4 min
Fall has become its own sales season for major retailers. AdvertisementFall has arrived in the US — and it's not just a season, but a shopping event. Products include Glazed Pumpkin Spice donut holes and sandwich cookies shaped like jack-o-lanterns, both sold under Target's Favorite Day brand. "We know consumers are eager for their apple and pumpkin spice favorites," Gomez said. However, sales of pumpkin spice products alone totaled about $802 million in the 12 months to July 2023, according to NielsenIQ.
Persons: , it's, Ronald Hill, Hill, Rick Gomez, Gomez, Joe's, It's, Bill Boltz, Skelly, University's Hill Organizations: Service, National Retail Federation, Retailers, Kogod School of Business, Business, Products, Aldi Locations: Aldi
I tried on similar sweaters at Banana Republic, Old Navy, and Gap. I liked the fit of the Old Navy sweater but was disappointed in the fabric quality. I loved both the fit and feel of the cashmere sweater from Banana Republic. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . That's why I turned to three Gap Inc.-owned retailers — Banana Republic, Old Navy, and Gap — to find a simple but versatile black sweater.
Persons: , It's, I've Organizations: Old Navy, Service, Locations: Republic, Old
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