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Stock futures were little changed on Monday after a bounce back in tech shares ahead of Nvidia's inaugural artificial intelligence conference. Heading into Tuesday, Nvidia shares showed signs of cooling as investors shift their focus to the Federal Reserve's two-day policy meeting. Futures tied to the S&P 500 slipped 0.12%, while Dow Jones Industrial Average futures slid 8 points, or 0.02%. AI leader Nvidia pulled back roughly 1% in extended trading, as investors evaluate the news from its first-ever GTC Conference. Wall Street is awaiting guidance on the path forward for monetary policy as the Federal Reserve begins its two-day policy meeting on Tuesday.
Persons: Jensen Huang, Blackwell, iPhones, Sam Millete Organizations: Nvidia, Federal, Dow Jones Industrial, Nasdaq, Conference, Tech, Google, Apple, Bloomberg, stoke, Federal Reserve, Commonwealth Financial Network
Eight economists, investment chiefs, and strategists that Business Insider recently spoke to credited healthier-than-anticipated consumer balance sheets and spending for the continued expansion. "Either that, or they're going to be maxed out — they can't get any more money. They're not going to have any liquidity to be able to continue to do the things they're going to do." He's also sticking with defensive stocks as consumer spending softens, including those in the consumer staples sector like Clorox (CLX) and Procter & Gamble (PG). Real estate is a "hated asset class" that's negatively correlated with interest rates, Sekera said.
Persons: shouldn't, Kevin Gordon, Charles Schwab, they're, Sue Crotty, Ed Clissold, Ned Davis, Clark Bellin, Bellin, David Rosenberg, They're, Rob Swanke, Swanke, Preston Caldwell, Morningstar's, Dave Sekera, Sekera, Christopher Barto, Gordon, Clissold, He's, Morningstar's Sekera, Crotty, Segal Marco Advisors, She's, Barto, that's Organizations: Business, Consumers, Segal Marco, Ned, Ned Davis Research, Commonwealth Financial Network, Nasdaq, Morningstar, Fort Pitt Capital Group, Procter, Gamble, Federal Reserve, Exxon, APA Corp, Duke Energy, Segal, Energy, Healthcare Locations: Devon, Real, NiSource
Dollar advances as U.S. inflation data weighs on rates outlook
  + stars: | 2024-03-15 | by ( ) www.cnbc.com   time to read: +3 min
The dollar was firm on Friday and set to snap a three-week losing streak as hotter-than-expected U.S. inflation data stoked worries about when and by how much the Federal Reserve would start cutting interest rates this year. The dollar was firm on Friday and set to snap a three-week losing streak as hotter-than-expected U.S. inflation data stoked worries about when and by how much the Federal Reserve would start cutting interest rates this year. Data on Thursday showed the U.S. producer price index for final demand rose 0.6% in February above the 0.3% rise economists had forecast. The dollar index , which measures the U.S. currency against six rivals, was 0.058% higher at 103.44, after rising 0.55% on Thursday. In other currencies, the Australian dollar fell 0.18% to $0.657, while the New Zealand dollar fell 0.39% to $0.611.
Persons: Jerome Powell, Ryan Brandham, Carol Kong, bitcoin Organizations: Federal Reserve, Risk, Traders, Bank of, Commonwealth Bank of Australia, New Zealand Locations: U.S, North America
The murder conviction of the dancehall artist Vybz Kartel and three co-defendants was overturned on Thursday by the highest court of appeal for Jamaica and other Commonwealth countries. Vybz Kartel, born Adidja Palmer, had previously been convicted and given a life sentence for the 2011 murder of Clive Williams, known as Lizard. On Thursday, the Judicial Committee of the Privy Council in London overturned the conviction because of allegations of jury misconduct in the 2014 trial. A juror, described in court documents as “Juror X,” was allowed to remain seated after a claim that the person had attempted to bribe other members of the jury. “Allowing Juror X to remain on the jury is fatal to the safety of the convictions which followed,” the court ruled.
Persons: Vybz Kartel, Adidja Palmer, Clive Williams, , Palmer, Shawn Campbell, Kahira Jones, John of Locations: Jamaica, London, André, Jamaican
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewKensington Palace is floundering — but there are two key ways its reputation can be mended, according to royal commentators and PR experts. Kate Middleton has been absent from the public eye since January, when the palace said she underwent abdominal surgery. In a rare personal message posted to Kensington Palace's X account on Monday, Kate said: "Like many amateur photographers, I do occasionally experiment with editing." Kensington Palace's reputation matters more than ever, especially as the monarchy's value has come into question after Queen Elizabeth II's death.
Persons: , Kate Middleton, Kate, Prince William, Karwai Tang, Wales, Evan Nierman, Banyan, Queen Elizabeth II's, Sovereign Grant, William's, William, Queen Camilla, Jack Royston, Samir Hussein, Chris, Tenile Clarke, Clarke Organizations: Service, Business, Kensington Palace, Sovereign, Brand Finance, Commonwealth, ITV, Ship, Chambers Media Solutions Locations: Kensington, Republic, Wales
CNN —In a line-up of India’s sporting heroes, most of whom have gained celebrity status through cricket, Neeraj Chopra is an anomaly. Matthias Hangst/Getty ImagesPrior to Chopra, India had practically no history in track and field, winning most of its Olympic medals in field hockey and wrestling. But still, Neeraj Chopra is the best sportsperson. “My main focus is to stay healthy,” says Chopra, “but I’m not taking the pressure of winning a gold medal again. He is a moving billboard, one can say now.”And if he wins a second gold medal at the Olympics?
Persons: Neeraj Chopra, ” Chopra, – Chopra, , Chopra, It’s, Matthias Hangst, Norris Pritam, He’s, Fabrice Coffrini, , Pritam, Kirill Kudryavtsev, he’s, I’m, I’ll, , , Michael Steele, ’ ” Organizations: CNN, CNN Sport, Ormax Media, Diamond League, Tokyo, , , volleyball, Zurich Diamond League, Getty, Commonwealth Games, Paris Olympics, India Locations: India, Tokyo, Budapest, Khandra, Haryana, Panipat, AFP, Panchkula, Hungary
The photograph was released by Kensington Palace early Sunday on the couple’s official social media accounts, to mark Mother’s Day in the United Kingdom. I hope everyone celebrating had a very happy Mother’s Day,” she wrote before ending her post with a “C” for Catherine. This year’s Mother’s Day photograph was also the first proper sighting of the princess since Christmas Day. Questions about the Mother’s Day image first emerged on social media. In the past, the family’s amateur photographs have been well received when posted on social media.
Persons: Catherine, Princess of Wales, Kate, Prince George , Princess Charlotte, Prince Louis, , Prince William, , Princess of, Prince George, Princess Charlotte, Princess, Wales, Catherine , Princess of Wales, They’ve, they’ve, William Organizations: London CNN, Kensington Palace, CNN, Associated Press, Daily Telegraph, Daily Mail, CNN’s Royal, Westminster Abbey Locations: Kensington, United Kingdom, Princess of Wales, Windsor, Adelaide
By a vote of 13 to 2, the team voted to join the service employees union SEIU Local 560 — making them the first college athletes in US history to vote to join a labor union. Then, last month, the NLRB ruled that the Dartmouth players were employees of the school, clearing the way for the unionization vote. The Dartmouth vote also comes as the share of union members in the US reached a record low of just 10% in 2023. AdvertisementIn the short term, however, the impact of the Dartmouth vote could be limited. AdvertisementIf the NLRB's decision to recognize the Dartmouth players stands, it could establish a precedent that enables other teams to follow suit.
Persons: , Dartmouth, Kaiser, There's, Victor Chen, Chen, Jake Rosenfeld, Louis, Trump, Rosenfeld, VCU's Chen, Matthew Johnson, Johnson, Barry Eidlin Organizations: Service, Dartmouth men's, Harvard, SEIU Local, National Labor Relations Board, Dartmouth, NLRB, Business, US, UAW, Hollywood, Kaiser Permanente, Virginia Commonwealth University, Washington University, NCAA, Northwestern football, Northwestern, Big, Associated Press, University of Southern, , USA, Duke University, McGill University Locations: Dartmouth, St, University of Southern California, Angeles, Montreal
Against the yen , the dollar bottomed at a roughly one-month trough of 148.94 in early Asian trade on Thursday. The euro and sterling held near one-month highs struck in the previous session and last bought $1.0902 and $1.2738 respectively. Market bets for imminent cuts also kept U.S. Treasury yields under pressure, with the two-year yield which typically reflects near-term rate expectations — last at 4.5640%. All of that left the greenback pinned near a one-month low against a basket of currencies. The New Zealand dollar rose 0.05% to $0.6133, while the Australian dollar edged 0.11% higher to $0.6572.
Persons: bitcoin, Jerome Powell, Carol Kong, Powell, Simon Harvey Organizations: U.S, Federal, Treasury, Commonwealth Bank of Australia, Fed, Canadian, Bank of Canada, BoC, Wednesday, New Zealand
Dollar steady ahead of Powell testimony, bitcoin takes breather
  + stars: | 2024-03-06 | by ( ) www.cnbc.com   time to read: +3 min
The U.S. dollar was largely steady on Wednesday, as traders avoided making large bets ahead of congressional testimony from Federal Reserve Chair Jerome Powell, as well as the European Central Bank's, or ECB, rate decision and U.S. jobs data later this week. In cryptocurrencies, bitcoin was slightly up but stayed below a record high reached in a volatile overnight session. Powell is expected to reinforce that the Fed will wait for more data before making any rate cuts. Elsewhere, the ECB is widely expected to leave interest rates at a record 4% at its policy meeting on Thursday. Markets are also keeping a close eye on the world's largest cryptocurrency, bitcoin , after it surged to a record high overnight before retreating sharply.
Persons: Jerome Powell, bitcoin, Powell's, Powell, Carol Kong, Sterling Organizations: U.S, Federal, European Central Bank, Institute for Supply Management, Traders, Commonwealth Bank of Australia, ECB Locations: U.S
RICHMOND, Va. (AP) — A top Democratic Virginia lawmaker vowed Wednesday to keep language enabling a proposed relocation by the NBA’s Washington Wizards and NHL’s Washington Capitals to Alexandria out of the state budget lawmakers will take up later this week. Glenn Youngkin's plan to lure the teams across the Potomac River with a $2 billion development district featuring a new arena. Moving forward, if the arena is excluded from the budget, Youngkin has a few options. Virginia governors have the ability to seek amendments to legislation, so he could attempt to put the arena language back in the budget. Democrats, who control both General Assembly chambers, could lose Youngkin’s support for some of their own priorities if they kill the arena deal.
Persons: Sen, Louise Lucas, Glenn Youngkin's, Lucas, Macaulay Porter, Youngkin, Democratic Del, Luke Torian, Lucas ’, Ted Leonsis, , doesn't, Del, Mark Sickles, Torian, we’re, Youngkin’s Organizations: Democratic, Washington Wizards, NHL’s Washington Capitals, Finance, Commonwealth, Republican Gov, Delegates, Monumental Sports & Entertainment, Monumental, Capitals, Wizards, Capital One, , House, Senate, Republicans Locations: RICHMOND, Va, Alexandria, Washington, Virginia, Hampton Roads
Queen Camilla will step back from royal duties until March 11 after filling in for King Charles. The king was diagnosed with cancer earlier this year and has withdrawn from public engagements. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementQueen Camilla will take a break from royal duties after stepping up official visits since King Charles' cancer diagnosis. Since Charles' cancer diagnosis was revealed on February 5, the King has withdrawn from public duties while he undergoes treatment, though he is continuing other state duties in private.
Persons: Camilla, King Charles ., , King Charles, Charles Organizations: Service, Commonwealth, Westminster Abbey, Business
The dollar was steady on Friday after data showed U.S. inflation remained sticky but easing gradually, keeping alive the chance of the Federal Reserve cutting rates in June, while the yen slid back to the key 150 per dollar level. The data showed U.S. prices picked up in January in line with expectations, while annual inflation slipped to the lowest in three years. Takata's comments stoked expectations that the central bank could end negative rates in March rather than the widely held view of a move in April. The contrasting comments are likely to keep investors guessing about the next move from the central bank. The Australian dollar rose 0.08% to $0.65025, while the New Zealand dollar was little changed at $0.6088.
Persons: Raphael Bostic, Hajime Takata, Kazuo Ueda Organizations: Federal Reserve, Commonwealth Bank of Australia, Traders, Atlanta Federal Reserve Bank, Bank of Japan, New Zealand Locations: United States, U.S, Atlanta
Dollar waits on U.S. inflation reading, bitcoin tops $60,000
  + stars: | 2024-02-29 | by ( ) www.cnbc.com   time to read: +3 min
The U.S. dollar was firm and the yen was headed for a monthly loss in the lead up to U.S. inflation data that could ruffle the interest rate outlook, while bitcoin surged above $60,000. The U.S. dollar was firm and the yen was headed for a monthly loss in the lead up to U.S. inflation data that could ruffle the interest rate outlook, while bitcoin surged above $60,000. Bitcoin is on a tear and topped $63,000 overnight as it rides a wave of cash rushing to new U.S. bitcoin exchange-traded funds. It is up more than 45% this month, its largest gain since December 2020 and a record high above $69,000 is within sight. The New Zealand dollar nursed losses on bets that rate hikes there are finished.
Persons: bitcoin, Masato Kanda, Sue Ann Lee, Kristina Clifton, Sterling Organizations: U.S, New Zealand, Reserve Bank of New, Federal, Commonwealth Bank of Australia Locations: Japan, U.S, Asia, Sao Paulo, Reserve Bank of New Zealand, Europe
Reliable and affordable food and commodity imports are more important to a net food importer like Kenya than to some other countries. Perhaps more importantly, a critical part of the world's food supply system remains disrupted, undermining food security and raising the underlying costs of cross-border trade. The governments of Kenya and Ukraine are also working together on food security. Meanwhile, Russia's own efforts to play a part in rebuilding food security have been more a public relations exercise than real action. Although Russian sources have claimed that such shipments have begun, there is still little evidence of Russian food aid arriving in Africa.
Persons: Timothy Njagi Njeru, Kalya Kiptiony, Dr Abraham Korir SingOei, William Ruto, Volodymyr Zelenskyy, Russia's, Dr Njeru, Lensa Omune Organizations: Tegemeo Institute, Kenyan, Initiative, Kenya's Ministry of Foreign, Diaspora Affairs, International Food Policy Research Institute, Insider Studios, Foreign, Commonwealth & Development Office Locations: East Africa, Ukraine, Kenya, Russian, Nairobi, Russia, Africa, Horn, Port, Mombasa
Dollar firms ahead of busy data week with U.S. inflation in focus
  + stars: | 2024-02-26 | by ( ) www.cnbc.com   time to read: +4 min
The dollar was on the front foot on Monday ahead of a packed week filled with key economic releases that will provide further clues on the global interest rate outlook, with a U.S. inflation reading taking center stage. The dollar was on the front foot on Monday ahead of a packed week filled with key economic releases that will provide further clues on the global interest rate outlook, with a U.S. inflation reading taking center stage. The kiwi had risen 1.2% last week, helped by broad dollar weakness and the risk of a rate hike from the RBNZ on Wednesday. "If anything, the (data) may be stronger than markets currently expect, and that will likely give a modest boost to the dollar," said CBA's Kong. "But at the same time, any gains in the dollar will likely be pretty modest.
Persons: Carol Kong, Sterling, Jane Foley, CBA's Organizations: Reserve Bank of New, New Zealand, Commonwealth Bank of Australia, of Japan's, U.S, Rabobank, U.S . Commodity Futures, Fed Locations: Japan, Australia, Reserve Bank of New Zealand, China, Asia, U.S
CNN —A Tennessee judge has temporarily blocked the NCAA from enforcing parts of its interim policy that would have restricted how student athletes negotiate compensation for their names, images and likeness. The so-called NIL policy included NCAA bylaws that would have prohibited student athletes from negotiating with any third-party entity, including schools or boosters. To be sure, it is pure speculation to assume that student-athletes would receive more lucrative NIL deals in an open market. Fair market value may be equal to or less than the NIL deals student-athletes can currently receive after selecting a school. But without the give and take of a free market, student-athletes simply have no knowledge of their true NIL value.
Persons: CNN —, , Jason Miyares, Chancellor Donde Plowman, Nico Iamaleava, Clifton L, Corker, ’ ”, , CNN’s Jacob Lev Organizations: CNN, Virginia, University of Tennessee, UT, Spyre Sports, NCAA, ” CNN Locations: Tennessee, Virginia, Commonwealth of Virginia
A high school committee in Massachusetts has asked the National Guard for help as it struggles to rein in student violence and drug abuse in its halls. "The National Guard does bring positivity, we use them to deploy COVID vaccinations." Rodrigues suggested that National Guard service members or staff be deployed as hall monitors and substitute teachers. "I know that the first thought that comes to mind when you hear 'National Guard' is uniform and arms," said Gomes. National Guard soldiers are not the answer," he said in a statement on Monday, per local station Boston 25 News.
Persons: Brockton, Maura Healey, Robert Sullivan, Healey, We're, Ana Oliver, Tony Rodrigues, Rodrigues, Claudio Gomes, Gomes, They're, Winthrop Farwell, Sullivan, Brockton's, Ana Reyes Organizations: National Guard, Business, ABC, Guard, Facebook, Boston, Brockton, PBS Locations: Massachusetts, Brockton, Boston, truancy, Commonwealth
It was clear that the war could significantly damage the Kenyan economy, as the country is almost entirely dependent on imports for its conventional fuel supply. But the extent of the damage caused by Russia's invasion of Ukraine to Kenya's economy is now clearer than ever. Kalya Kiptiony, investment analystFuel is Kenya's economic lifebloodAfter the start of the war, the price of fuel in Kenya rose, on average, 7.6% every month. Although Kenya gets most of its oil from the Gulf, Russia's invasion of Ukraine led to a spike in fuel prices worldwide. In a report late last year, the UN described just how factors like drought, inflation, and fuel and food price rises are combining to undermine livelihoods in Kenya.
Persons: Lensa Omune, Kalya, Kalya Kiptiony Organizations: International Food Policy Research Institute, Central Bank, IMF, UN, Insider Studios, Foreign, Commonwealth & Development Office Locations: Russia, Ukraine, Kenya, Nairobi, East Africa, Africa, Europe
Read previewThis as-told-to essay is based on a conversation with Symoné Berry, a 31-year-old government contractor living in Atlanta. I figured out that I needed to get a CompTIA Security Plus authorization to work in many of the overseas positions. AdvertisementWhen I started, I only had two days off every 10 days and I worked about 92 hours a week. This is money that compensates for the long hours so that staff can travel during their time off. Overseas government contract work requires at least 50 hours a week.
Persons: , Symoné Berry, it's, I've Organizations: Service, BI, Business, Christopher Newport University, Virginia Commonwealth University, Raytheon, Osan Air Force Base, Overseas, GovTech Locations: Atlanta, Iraq, Afghanistan, Fort, snowiest, Japan, Aomori Prefecture, North Korea, Shibuya, Tokyo, Aomori, Symoné, Symoné Berry Aomori, Taiwan, California, Bali, Symoné Berry South Korea, South Korea, Seoul,
As Prabowo Subianto looks set to succeed Joko Widodo as President, economic growth remains resilient and inflation has stayed low over the past year. But external risks, including Russia's war on Ukraine, continue to cloud the horizon. The World Bank warned in January that global growth will slow for the third consecutive year, to 2.4% in 2024, when the global economy may record the slowest half-decade of GDP growth in 30 years. The government remains hopeful of hitting its 5.2% target in 2024, said Coordinating Minister for Economic Affairs Airlangga Hartarto in early February, acknowledging the risks posed by global economic turmoil, such as the Ukraine-Russia conflict. Regional leadershipTo reach developed country status, a nation typically requires sustained annual economic growth of 7% for 15 consecutive years.
Persons: Prabowo, Joko Widodo, Krisna Gupta, Widodo, Economic Affairs Airlangga Hartarto, Sri Mulyani, Radityo Dharmaputra, Indonesia's Organizations: World Bank, State of, Global, Center, Indonesian, Center for Indonesian, Studies, Bank, Economic Affairs, for Economic Co, OECD, Universitas Airlangga, Ukraine, Insider Studios, Foreign, Commonwealth & Development Office Locations: Indonesia, Ukraine, State, Russia, Jakarta, Southeast Asia, Crimea, Subianto
ARLINGTON, Va. (AP) — Real estate data firm CoStar Group is moving its headquarters from Washington, D.C., to northern Virginia, a move that will bring roughly 650 jobs to the state. The relocation is expected to result in 500 jobs moving from D.C., plus the creation of 150 new jobs. The move comes as the Legislature is considering a $2 billion deal to relocate the NBA's Washington Wizards and NHL's Washington Capitals from their home in downtown to Washington to northern Virginia. Arlington County has successfully recruited numerous corporate headquarters in recent years, most famously landing the second Amazon headquarters in 2018. JBG Smith, the real estate company selling the office tower to CoStar, declined comment Wednesday.
Persons: Glenn Youngkin, JBG Smith Organizations: , Washington , D.C, D.C, Washington Wizards, NHL's Washington Capitals, Virginia Gov, Arlington, Arlington County, Boeing, Nestle Locations: ARLINGTON, Va, Washington ,, Virginia, Rosslyn, Arlington County, Potomac, Washington, Richmond, Arlington, U.S
RICHMOND, Va. (AP) — A GOP legislative effort to prevent Virginia children from using the popular video-sharing app TikTok — an idea backed by Republican Gov. Jay Leftwich of Chesapeake, was left in a House of Delegates committee after concerns were raised about how the ban would be enforced. Leftwich also said he brought the bill out of mental health and data privacy concerns for young people. “But I will not be supporting this bill because I think it’s unfair to single out TikTok,” she said. “We’ve long said bans, like the one proposed in this legislation, are not only the wrong approach, but also raise significant First Amendment concerns," Brown said.
Persons: Glenn Youngkin —, Republican Del, Jay Leftwich, Lawmakers, Youngkin, Leftwich, , , Holly Seibold, Jamal Brown, We’ve, Brown, Macaulay Porter, Organizations: , Republican Gov, Democratic, Republican, Inc, Commonwealth, TikTok Locations: RICHMOND, Va, Virginia, Chesapeake, Fairfax County, Commonwealth
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewRussian President Vladimir Putin delivered a strange performance fueled by Russian propaganda and imperialist posturing in his interview with right-wing media host Tucker Carlson last week. The two-hour interview revealed little new information about the war in Ukraine — beyond that it is likely to continue — but did manage to highlight Putin's increasing delusion, according to two Russia historians. AdvertisementThe Russian president parroted in great, slogging detail many of the erroneous talking points he's used over the years to bolster his belief that Ukraine ought to be under Russian control. "Instead, he showed that it wasn't Russian insecurity, but Putin's personal imperialism, that motivated the war," English said.
Persons: , Vladimir Putin, Tucker Carlson, Robert English, Putin, parroted, he's, Rurik, Simon Miles, Carlson, combusted, Putin didn't, Miles, Masha Gessen, Hitler, Gessen, Donald Trump Organizations: Service, Business, University of Southern, Duke University's Sanford School of Public, Soviet Union, GOP, NATO Locations: Ukraine, Russia, University of Southern California, Soviet Union, Eastern Europe, Russian, Polish, Lithuanian Commonwealth, Soviet, West, Kyiv, United States, Israel
There's broad agreement that some kind of public comment time management is necessary in Virginia's sessions, which generally run no longer than 60 days. When the opponents' six minutes ran out after only three speakers, Watts attempted to cut the group off. Gilbert also suggested the limited public comment could have been by design in this instance. By the end of the public comment, then-sponsor Sen. Chap Petersen, a Democrat, threw up his hands and said: “Do what you want with the bill. She also questioned why the Senate is not taking online public comment in subcommittees or allowing the submission of written public comments.
Persons: , , , Sally Hudson, Del, Vivian Watts, Watts, Michael Grey, Melinda Wallin, Ryan Mehaffey, I'd, Wallin, We've, ” Watts, ” Wallin, legislates, capitols, can’t, Todd Gilbert, Gilbert, Sen, Chap Petersen, Megan Rhyne, Joan Porte, she’s, Creigh Deeds, Deeds, “ there's Organizations: Capitol, University of Virginia, GOP, Democrat, Delegates, Virginia Coalition, Open Government, League of Women Voters, Democratic Locations: RICHMOND, Va, Spotsylvania County, Richmond, Virginia
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