Trump Demands Powell's Resignation Amid Economic Policy Disagreements
President Trump has intensified his criticism of Federal Reserve Chair Jerome Powell, demanding his resignation and labeling him unfit for the role. Trump’s discontent stems from Powell's reluctance to lower interest rates, which he believes is crucial for stimulating economic growth and supporting his proposed tax-cut initiatives. Despite Trump's aggressive stance, Powell maintains that the labor market is strong and does not necessitate immediate rate cuts. Speculation about Powell's potential..
Meta's Aggressive Hiring from OpenAI Signals AI Talent War
The competitive landscape of AI talent acquisition is intensifying, with major tech companies vying for top researchers. Meta, in particular, is making significant moves by recruiting prominent figures from OpenAI, highlighting its ambition to bolster its Superintelligence Lab...
Will Trade Talks Fuel Further Gains for the S&P 500?
The recent surge in the S&P 500 index has captured the attention of investors, driven by optimism surrounding a potential trade agreement between the United States and China. This milestone comes despite ongoing economic challenges, including fluctuating inflation rates and glo..
US and China Reach Key Trade Deal on Rare Earth Minerals
Recent developments in international trade negotiations highlight the evolving dynamics between the United States and major global economies. A significant agreement has been reached between the US and China, focusing on the expedited shipment of rare earth minerals. This deal aims to mitigate the ongoing tariff conflicts between the two nations, which are the largest economies in the world. In parallel, President Trump has expressed optimism regarding trade negotiations with India, which he a..
Can EU Leaders Strike a Trade Deal with the US Before July?
The recent EU summit in Brussels focused heavily on resolving the ongoing trade dispute with the United States, which has been exacerbated by President Donald Trump's tariff policies. European leaders, led by Commission President Ursula von der Leyen, are striving to negotiate a..
China and US Reach Trade Agreement on Rare Earth Exports
Recent developments have seen China and the United States achieve a significant trade agreement aimed at easing tensions between the two economic giants. Both nations have agreed on enhancing the shipment of rare earth materials, which are critical for various technologies. This..
Germany's Minimum Wage to Increase to €14.60 by 2027
The independent Minimum Wage Commission has unanimously decided to raise the minimum wage to 14.60 euros per hour through a phased approach. Initially, the minimum wage will increase to 13.90 euros in January 2026, followed by a further rise to 14.60 euros in January 2027. This adjustment comes as the current minimum wage stands at 12.82 euros. Although the Social Democratic Party (SPD) aimed for a minimum wage of 15 euros by 2026, this target was not incorporated into the coalition agreement...
Can Europe Find Common Ground on US Tariff Dispute Before Deadline?
As the deadline for the EU-US trade negotiations approaches, European leaders are intensifying their efforts to reach a swift resolution to the ongoing tariff dispute with the United States. President Donald Trump's tariffs have placed significant pressure on key sectors like the..
Deutsche Bahn Plans Seat Increase Amid Confusion Over Seat Reduction Claims
Deutsche Bahn has firmly refuted a report by the magazine 'Spiegel' that claimed the company intended to eliminate 21,000 seats in long-distance transport. The railway operator clarified that the number of available seats for passengers is projected to increase by 2036, contrad..
Senate Advances Bipartisan Cryptocurrency Regulation Amid Diverging House Approaches
The U.S. Senate is pushing to finalize cryptocurrency regulations with the recently passed GENIUS Act, which received bipartisan support. This legislation aims to establish strict guidelines for stablecoin issuance, ensuring consumer protections and transparency. While the Senate's approach contrasts with the House's more flexible Clarity Act, the differing philosophies on regulation highlight a significant divide. The impending regulatory framework is viewed as a critical step towards positio..
Germany's Tax Cut Controversy: Who Benefits from Lower Electricity Rates?
The recent decision by the German government to lower electricity taxes only for industries and agriculture, while leaving other sectors and private households with unchanged rates, has sparked widespread debate and criticism. This move has not only drawn the ire of opposition..
Bitcoin ETFs Attract $1 Billion Amid Dollar Decline and Fed Speculation
Wall Street is witnessing a notable shift as over $1 billion flows into spot Bitcoin ETFs, coinciding with a weakening US dollar. This investment surge comes amidst speculation about potential changes in the Federal Reserve's leadership, heightening expectations of rate cuts and..
Germany's Bundestag Approves Investment Booster to Revitalize Business Growth
The Bundestag has moved to enhance Germany's economic landscape by approving a comprehensive 'Investment Booster' package aimed at alleviating corporate tax burdens and stimulating investment. This significant legislative initiative, pending confirmation from the Bundesrat, promises substantial tax relief for businesses, which is expected to encourage growth and improve overall economic conditions. Key elements include accelerated depreciation for companies, a gradual reduction in corporate tax..
Intel Closes Automotive Division Amid Major Restructuring and Layoffs
Intel has decided to shut down its automotive business and lay off a significant portion of its workforce, reflecting a strategic shift towards its core client and data center markets. This decision is part of a broader restructuring effort amid declining sales and competitive..
Northvolt's Bankruptcy Raises Questions on Government Subsidy Oversight
The controversy surrounding the battery manufacturer Northvolt centers on its financial struggles and the allocation of substantial government subsidies. Despite auditors assessing a mere one percent risk of total subsidy loss, Northvolt declared bankruptcy in Sweden, raising q..
How Israel-Iran Ceasefire Reshapes Global Markets and Investor Confidence
Recent developments in the Middle East, particularly the announced ceasefire between Israel and Iran, have significantly impacted global financial markets. This news has generally been met with optimism from investors, leading to a rise in US stock index futures. Major indices such as the Dow Jones, S&P 500, and Nasdaq have all seen notable gains, reflecting increased investor confidence.
The ceasefire has particularly influenced oil prices, which have dropped sharply. This decrease is attrib..
Mayor Adams Proposes Bitcoin Investment Vehicle Amidst Crypto Policy Debate
New York City Mayor Eric Adams is advocating for a transformative approach to cryptocurrency in the city. He has criticized former Governor Andrew Cuomo's stance on digital assets, deeming it misguided. Adams plans to establish a city council focused on crypto policies and aims..
Germany's EV Demand Plummets as China Strengthens Battery Market Position
The decline in electric vehicle demand has significantly impacted the battery market, particularly in Germany, where sales dropped by 16%. China's dominance in this sector is increasingly evident, with an import volume of €8.9 billion, overshadowing European contributions. This..
Germany's New Tax Agreement Aims to Boost Economy While Protecting Municipalities
The recent agreement between the federal and state governments in Germany marks a significant step towards mitigating the financial impact of planned tax relief measures on the economy. These measures, aimed at revitalizing the economic landscape, could reach approximately 45 billion euros by 2029. A key component of this agreement involves compensating municipalities for tax losses incurred due to these economic stimuli, such as the 'Investitionsbooster'. This financial relief ensures that mu..
Trump's Ceasefire Sparks Market Surge and Decline in Oil Prices
Recent developments indicate a significant shift in market dynamics following President Trump's announcement of a ceasefire between Israel and Iran. The announcement has led to a notable increase in stock prices, particularly within the Hong Kong market, where the Hang Seng Index..
Watch Exports to the USA Surge 40% Amid Tariff Speculation
The watch industry is experiencing a remarkable surge in exports to the USA, with a significant increase of over 40 percent in April, reaching nearly ten million euros. This boom is largely attributed to U.S. dealers reacting to potential tariff changes proposed by former Presi..
Government Unveils Major Investment Package for Economic Growth by 2028
The federal government and the states have reached a consensus on an ambitious investment package aimed at invigorating the economy. Central to this agreement are tax incentives designed to benefit businesses, particularly through enhanced depreciation options for machinery and electric vehicles. These measures are set to take effect from 2028, alongside a reduction in corporate tax rates, offering significant financial relief to companies. The package acknowledges the potential revenue shortf..
How Iran's Threats Could Disrupt Global Oil Supply Chains
The Strait of Hormuz remains a pivotal maritime route, essential for global oil and gas transportation. With over a quarter of the world's oil passing through this narrow waterway, any threats to its closure by Iran could have far-reaching consequences. Such actions could disrupt supply chains, elevate oil prices, and impact economies heavily reliant on these resources, particularly in Asia. The United States is poised to respond due to its naval presence in the region. Meanwhile, initiatives..
States Compete with Delaware for Corporate Business: What's Driving the Shift?
Several states are actively changing their corporate laws to attract businesses traditionally incorporated in Delaware. Texas, Oklahoma, and Nevada are leading this initiative by implementing business-friendly measures. Texas has established a dedicated business court, while Oklahoma is working on similar courts in populous areas. Nevada is also pushing for a dedicated business court, drawing attention from notable companies like MercadoLibre and Tesla. In response, Delaware has passed legisla..
How US-Iran Tensions Are Shaping Global Oil Prices and Markets
The recent geopolitical tensions between the US and Iran have caused significant fluctuations in global financial markets, particularly in oil prices and stock indices. The US airstrikes on Iranian nuclear facilities have led to an initial surge in oil prices, with concerns about potential disruptions in the Strait of Hormuz, a crucial passage for global oil supplies. However, these prices quickly adjusted as analysts weighed the likelihood of Iran closing the strait, which would severely impact..
Can Tesla's Robotaxi Initiative Overcome Industry Doubts and Competition?
Elon Musk is pushing forward with Tesla's ambitious robotaxi initiative in Austin, Texas, despite a history of missed deadlines and skepticism from industry analysts. The pilot program, featuring 10 to 12 vehicles operating within a limited area, marks a significant test for Tesla's Full Self-Driving (FSD) technology. Musk envisions rapidly expanding the service to hundreds of thousands of vehicles as early as next year.
However, challenges remain. Rivals like Waymo have already established a..
Senate Passes GENIUS Act, Setting New Standards for Stablecoins
The recent passage of the GENIUS Act by the US Senate marks a pivotal moment in the regulation of digital assets, particularly stablecoins. With a bipartisan vote of 68-30, the legislation establishes clear guidelines for stablecoin issuance and mandates that issuers maintain one-to-one reserves in cash or short-term Treasury securities. This regulatory clarity has ignited optimism in the market, significantly boosting the stock of Circle Internet Group and highlighting the potential for subst..
Germany's Defense Spending Set to Reach 3.5% of GDP by 2029
Germany is poised for a significant increase in defense spending, as Finance Minister Lars Klingbeil outlines plans to elevate defense expenditure to 3.5 percent of the gross domestic product (GDP) by 2029. This ambitious move marks a substantial jump from the current 2.4 percent, aligning with efforts to meet NATO's financial expectations and addressing security concerns.
The proposed increment in defense spending will see Germany's budget balloon to 152.8 billion euros by 2029. To accommodate..
Virginia's Strategy Company Becomes World's Largest Bitcoin Holder with 592,345 BTC
Strategy, a prominent company in Virginia, has significantly expanded its Bitcoin holdings by acquiring 245 additional Bitcoins at $105,856 each, elevating its total to 592,345 BTC. This move reinforces Strategy's position as the largest corporate Bitcoin holder globally, with a..
Switzerland's F-35 Deal Faces 1.3 Billion Franc Cost Overrun Concerns
The ongoing negotiations surrounding military aircraft acquisitions highlight significant financial complexities. Switzerland's commitment to purchase 36 F-35 fighter jets from the United States has come under scrutiny as new reports suggest potential additional costs could esc..
Will Germany's Minimum Wage Debate Reshape Its Economic Future?
Germany is engaged in a heated debate over the future of its minimum wage. Currently set at 12.82 euros per hour, there are calls for a significant increase to align with EU standards. Michaela Engelmeier from the social association advocates for a minimum wage of 15.12 euros per hour, while the German Trade Union Confederation suggests an even higher rate of 15.27 euros by 2026. This proposal, however, faces resistance from employers and political factions, who warn of potential economic repe..
Hamburger SV embarks on Bundesliga return with new president and debt-free status
Hamburger SV is entering a new chapter as it prepares for its first Bundesliga season in seven years. The club has recently elected Henrik Köncke as its new president, receiving 65.71% of the votes. Köncke, a former ultra and follower of the club, replaces Marcell Jansen, who c..
How Blackrock's Tax Strategies Cost EU Nations €140 Million Annually
The discourse surrounding Blackrock highlights significant issues in tax planning and corporate responsibility. Recent studies reveal that the investment firm legally reduces its tax liabilities, resulting in substantial losses for EU countries, estimated at around €140 million..
Lars Klingbeil's Plan to Save Germany's Steel Jobs Amid Industry Shift
Lars Klingbeil, chairman of the SPD, is a staunch advocate for preserving industrial jobs in Germany, particularly in the steel sector. His commitment comes in response to ArcelorMittal's decision to halt their plans for climate-neutral steel production in Bremen and Eisenhüttenstadt due to economic viability concerns. Klingbeil is calling for a collaborative approach involving Federal Minister of Economics Katherina Reiche and other stakeholders to address this challenge. He proposes a summit..
ArcelorMittal's Green Steel Plans Halted, Sparking Industry Backlash
ArcelorMittal's decision to halt plans for green steel production at its Bremen and Eisenhüttenstadt plants has sparked widespread criticism. The move was deemed short-sighted and irresponsible by industry union leaders, who highlighted the significant investments and governmen..
UK, Italy, and Japan Join Forces for Advanced Sixth-Generation Fighter Jet
The Global Combat Air Programme (GCAP) represents a significant international collaboration between Britain, Italy, and Japan, aiming to develop a sixth-generation fighter jet. Spearheaded by major companies like BAE Systems, Leonardo, and Japan Aircraft Industrial Enhancement,..
How Middle East Conflicts Shape Investor Sentiment and Market Stability
Investor sentiment is increasingly influenced by escalating tensions in the Middle East, particularly the conflict between Israel and Iran. While concerns mount over potential disruptions to the Strait of Hormuz and global energy markets, historical patterns suggest that geopolitical conflicts may not always trigger long-term market instability. Recent fluctuations in stock prices reflect this uncertainty, with notable movements in companies like Tesla amidst broader market reactions. The pote..
How Trump and Musk's Rift Reflects Broader Business-Politics Tensions
The intersection of business and politics has become a contentious arena, particularly highlighted by the recent tensions between Donald Trump and Elon Musk. Once allies, their relationship has soured dramatically as Musk has publicly criticized Trump's fiscal policies, leading to a bitter feud. This rift reflects a broader discomfort with the blending of corporate influence and governmental roles. In Nigeria, a similar situation unfolds with Alhaji Aliko Dangote, whose investment in a political..
Thyssenkrupp Plans Major Spin-Off of Marine Business for Growth
Thyssenkrupp is embarking on a significant strategic shift by spinning off its marine business into a separate entity. The supervisory board of the Essen-based industrial conglomerate has endorsed this move, aiming to enhance the competitiveness and growth prospects of Thyssenk..
Can Bitcoin Overcome Diminishing Demand Amid Market Volatility?
Recent trends in Bitcoin's market reveal fluctuating dynamics, as the cryptocurrency's price has shown both resilience and vulnerability. Following a notable rebound, Bitcoin approached its all-time highs, but analysts caution that diminishing demand could lead to significant p..
ArcelorMittal Halts Green Steel Plans Amid Market Pressures in Germany
ArcelorMittal has recently abandoned its plans for green steel production in Germany, specifically at its flat steel plants in Bremen and Eisenhüttenstadt. This decision stems from unfavorable market conditions and the economic unviability of producing CO2-reduced steel. The company is shifting its focus towards building electric arc furnaces, which they believe will become economically feasible in the future. Previously, the firm aimed to replace a blast furnace at each location by 2030, inte..
Trump's Tariffs and Economic Uncertainty
The economic landscape in the United States is increasingly shaped by President Trump's tariffs. Federal Reserve Chair Jerome Powell highlights concerns over rising prices and slowed growth, attributing some challenges to these trade policies. Despite calls for lower interest r..
US Defense Firms Pursue European Partnerships Amid Spending Surge
US defense companies are actively seeking partnerships in Europe as military spending surges in response to geopolitical tensions. At the Paris Air Show, they showcased advanced technologies, aiming to strengthen transatlantic ties. Despite European efforts for military self-su..
Market Uncertainty Amid Global Tensions
The US stock market faces instability as investors grapple with rising geopolitical tensions and economic forecasts. Recent discussions surrounding the Federal Reserve's interest rate strategy have added to market anxiety. With President Trump's potential military actions in the Middle East looming, stocks have shown mixed responses. The Dow Jones fell slightly, while the S&P 500 remained stable and the NASDAQ showed a minor increase. Fed Chair Jerome Powell's upcoming statements may shed light..
Nippon Steel's Strategic Acquisition of US Steel
Nippon Steel has successfully acquired US Steel for $14.9 billion, marking a significant milestone in the steel industry. This acquisition not only opens new avenues for Nippon Steel but also incorporates a 'golden share' provision, granting the US government considerable overs..
Trump Family Ventures into Tech and Crypto
The Trump family is making waves in the technology and cryptocurrency sectors with the launch of Trump Mobile, offering an unlimited plan for $47.45 and a gold-colored smartphone priced at $499. This initiative aims to address perceived issues surrounding free speech and conser..
Adobe Unveils Firefly Mobile App for AI Content Creation
Adobe has launched Firefly, a mobile app for iOS and Android that empowers users to create images and videos through text prompts. This innovative application integrates Adobe's generative AI models alongside those from partners like OpenAI and Google. Users can sync their creations with Creative Cloud, enhancing collaboration and accessibility. While the app offers unlimited basic image generation, premium features necessitate a subscription, starting at $10 per month. Adobe assures that its..
Europe's Defense Ambitions: Building Global Competitors
Europe is strategically uniting its defense industries to compete with dominant players like the US and China. Under the guidance of European Defense Commissioner Andrius Kubilius, companies such as Indra, Rheinmetall, and Leonardo are forming alliances to create national champ..
Friedrich Merz's Optimism Amid Trade Tensions
Friedrich Merz, the Chancellor of Germany, anticipates a limited trade agreement with the United States by July 9. This deal, however, is expected to focus on select sectors, notably the automotive industry. The European Union is negotiating on behalf of its member states, aiming..
xAI's Financial Ambitions Amidst Massive Expenditure
Elon Musk's xAI is currently facing significant financial challenges as it spends approximately $1 billion monthly, leading to an anticipated loss of $13 billion in 2025 against only $500 million in revenue. The company is heavily investing in infrastructure, particularly in acquiring 100,000 Nvidia H100 GPUs for its Memphis datacenter, with a capital raise goal of $9.3 billion. Despite these hurdles, xAI aims to generate $2 billion in revenue by 2026 and achieve profitability by 2027, motivated..
Navigating the Divide: Business and Politics in Turmoil
The ongoing conflict between Donald Trump and Elon Musk serves as a stark reminder of the risks associated with intertwining business interests and political influence. This feud, which has escalated from a once amicable relationship to open hostility, highlights the challenges of modern governance in an evolving economic landscape. Musk's innovative economic model confronts Trump's traditional approaches, marking a significant shift in the discussion about the future of industry and governance...
Negotiating Fiscal Relief Amidst Economic Challenges
Germany's federal government and state leaders are engaged in critical negotiations to address significant tax shortfalls and stimulate economic growth. Chancellor Friedrich Merz and the Minister-Presidents are in discussions aiming to establish a fair compensation mechanism for..
XRP's Potential Breakout Amid Market Uncertainty
XRP has been consolidating within a tight price range for 200 days, leaving traders in anticipation of its next move. Analysts foresee a potential breakout that could propel XRP's value significantly, with projections suggesting targets as high as $25. The recent resolution of..
Rising Rents Challenge Rent Control Measures
In recent years, rental prices in major cities have surged dramatically, with Munich leading the list of the most expensive urban centers. An analysis by the Ministry of Construction reveals that average rents in Germany's largest independent cities have escalated by nearly 50% since 2015. Despite the implementation of rent control measures, the financial burden on tenants continues to grow, prompting criticism from political figures. Berlin, in particular, has seen significant increases, rais..
Federal and State Negotiations on Economic Stimulus Measures
Germany is currently witnessing a significant dialogue between federal and state leaders regarding economic stimulus measures. Central to this discussion is the compensation for anticipated tax shortfalls resulting from proposed federal plans. These measures aim to bolster the..
Musk Sounds Alarm on Economic Stability
Elon Musk has raised concerns over a looming economic crisis in the United States, attributing it to rising budget deficits and public debt. He emphasizes the need for fiscal reforms to prevent potential national bankruptcy, which could trigger higher unemployment and inflation...
Vietjet's Bold Expansion with Airbus Partnership
Vietjet, Vietnam's leading private airline, has made headlines with a significant order of 100 A321neo aircraft from Airbus, with an option for 50 more. This deal was finalized at the Paris Air Show, marking a pivotal moment in the airline's growth strategy. Vietjet's CEO, Nguyen Thi Phuong Thao, emphasized the importance of this partnership in enhancing their global presence. The agreement not only strengthens ties between Vietnam and Japan but also supports production at Airbus's Broughton w..
Escalating Tensions in the Middle East: A Global Concern
The ongoing conflict between Israel and Iran has reached a critical juncture, drawing international attention and increasing geopolitical tensions. Central to this development is the involvement of US President Donald Trump, who has demanded Iran's 'unconditional surrender' in response to escalating hostilities. Trump's stance has intensified the situation, with both nations engaging in missile strikes, leading to fears of a broader regional conflict.
Trump's actions, including convening an e..
Challenges Ahead for Trump Mobile and T1 Smartphone
The Trump Organization's recent launch of Trump Mobile and its T1 smartphone has sparked significant skepticism. Priced at $499, the T1 is marketed as a product made in the U.S., yet experts doubt this claim due to the complexities of domestic manufacturing. Many believe that e..
Dortmund's Challenging Start at Club World Cup
Borussia Dortmund began their Club World Cup journey in the USA with a goalless draw against Fluminense Rio de Janeiro. Despite the challenges posed by time differences and unusual kick-off times, the team, led by coach Niko Kovac, aimed to adjust through a special preparation..
Ramp Achieves $16 Billion Valuation with Series E Funding
Ramp, a leading financial operations platform, has reached an impressive valuation of $16 billion following its recent Series E funding round, which raised $200 million. This investment, spearheaded by Founders Fund, marks a significant increase of $3 billion within just three months. Serving over 40,000 clients, including notable names like Shopify and Notion, Ramp's innovative products have collectively saved businesses $10 billion and 27.5 million hours. The platform excels in corporate car..
Industrial Maintenance Services Poised for Significant Growth
The industrial maintenance services market is on track to reach $97.66 billion by 2034, fueled by rapid industrialization and supportive government policies. With a projected CAGR of 5.79% from 2029, this sector is expanding significantly, particularly in the Asia-Pacific region,..
Tensions Rise Between OpenAI and Microsoft
A significant rift is developing between OpenAI and Microsoft as their once-collaborative partnership faces challenges. OpenAI is contemplating legal action against Microsoft, citing concerns over anticompetitive behavior and an imbalance of power in their agreement. Negotiations..
Trump Family Ventures into Mobile Communications
Donald Trump Jr. and Eric Trump have launched a new mobile service called Trump Mobile, featuring a $499 gold smartphone and a monthly plan priced at $47.45. This initiative raises ethical concerns due to the potential conflicts of interest associated with the Trump Organization and the family's political ties. Critics question the feasibility of the gold smartphone, suspecting it may be rebranded from foreign devices rather than manufactured in the U.S. The service promises unlimited calls, m..
WhatsApp to Introduce Ads in Status Updates
WhatsApp, owned by Meta since 2014, will soon integrate advertisements into its app, specifically within the 'Updates' section. This move aims to capitalize on WhatsApp's massive user base, which exceeds two billion worldwide. The ads will be featured alongside status updates and..
Impact of Israel-Iran Conflict on Global Oil Markets
The escalating conflict between Israel and Iran has triggered significant turmoil in global oil markets. Brent crude oil prices surged nearly 7%, reaching $74.60 per barrel as fears of a potential blockade of the Strait of Hormuz loom. This crucial waterway, through which a third..
Geopolitical Tensions Weigh on Markets
US stock futures have dipped as tensions rise between Israel and Iran, leading to increased oil prices and investor unease. President Trump's call for evacuations from Tehran has intensified concerns, while the Federal Reserve prepares for its upcoming interest rate decision amidst this geopolitical backdrop. Despite the uncertainty, the S&P 500 has shown resilience, nearing its February highs, as investors remain cautiously optimistic. Analysts suggest that the Fed may maintain its current ra..
Navigating the Challenges of Over-Indebtedness
Over-indebtedness is a significant issue affecting a wide range of individuals due to various life circumstances. Common triggers for financial difficulties include unemployment, illness, and separation, as highlighted by Kerstin Föller from the Hamburg Consumer Advice Center. Unemployment, in particular, is a prominent factor, accounting for approximately 17.5% of debt-related consultations, according to the Institute for Financial Services (iff).
Addressing over-indebtedness requires a mult..
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