Finance news

• UPDATE 3-Obama, Congress to kick off U.S. budget negotiations

  29-09-2015 23:58
  WASHINGTON, Sept 29 (Reuters) - Congressional Republican leaders and the White House will launch negotiations soon on a two-year budget deal that would establish new limits for U.S. government...
  
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• Amazon begins a delivery service powered by regular folks

  29-09-2015 23:54 via news.yahoo.com
  
  The e-commerce giant jumps into the gig economy with the new program called Amazon Flex. The service starts in Seattle.
  
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• UPDATE 2-U.S. Sen. Hatch says no help for Puerto Rico unless better disclosure

  29-09-2015 23:51
  NEW YORK, Sept 29 (Reuters) - Powerful Senate Finance Committee Chairman Orrin Hatch on Tuesday warned there could be no help for Puerto Rico without better financial disclosure, while expressing...
  
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• Aeropostale gets listing warning from NYSE as shares fall below $1

  29-09-2015 23:33 via news.yahoo.com
  
  (Reuters) - Apparel retailer Aeropostale Inc said the New York Stock Exchange has warned that the average price of its shares had fallen below $1 for 30 trading days and it was considering a reverse stock split to return to compliance.
  
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• Top U.S. spy skeptical about U.S.-China cyber agreement

  29-09-2015 23:32 via news.yahoo.com
  
  By Andrea Shalal WASHINGTON (Reuters) - The top U.S. intelligence official said he was skeptical that a new U.S.-China cyber agreement would slow a growing torrent of cyber attacks on U.S. computer networks, adding that his approach will be to "trust but verify." Director of National Intelligence James Clapper told the Senate Armed Services Committee on Tuesday that the agreement did not include specific penalties for violations but that the U.S. government could use economic sanctions and other
  
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• ComScore to buy viewership rating provider Rentrak

  29-09-2015 23:32
  (Reuters) - Data analytics provider ComScore Incsaid it would buy viewership rating company Rentrak Corpin an all-stock deal with an implied value of about $771 million to create a comprehensive...
  
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• U.S. biotech bloodbath hits hedge funds but some bargains emerge

  29-09-2015 23:25 via news.yahoo.com
  
  The Nasdaq Biotechnology index has fallen 18.7 percent over the last seven sessions as investors took flight after Hillary Clinton, front-runner to be the Democratic nominee in next year's U.S. presidential election, vowed on Sept. 21 to take steps to curb high drug prices. The selloff was exacerbated by general market volatility as investors have been grappling with uncertainty about when policy makers will raise U.S. interest rates and concerns over the global economy.
  
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• CANADA FX DEBT-C$ hits fresh 11-year lows as investor anxiety lingers

  29-09-2015 23:20
  (Updates with strategist comment, closing figures, additional details) * Canadian dollar ends at C$1.3418, or 74.53 U.S. cents * Bond prices mixed across maturity curve By Solarina Ho TORONTO, Sept...
  
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• Australia, New Zealand in 'arms race' for Chinese tourist dollars

  29-09-2015 23:09 via news.yahoo.com
  
  By Swati Pandey and Charlotte Greenfield SYDNEY/WELLINGTON (Reuters) - Australia and New Zealand risk losing a global arms race for big-spending Chinese holidaymakers unless they improve their services and infrastructure, jeopardizing hopes that tourism will fill the economic hole left by the commodities downturn. While both countries are enjoying record numbers of tourists from China, industry executives warn they need to improve their Chinese language skills and offer better high-end hotels an
  
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• Health care stocks push S&P 500 to first gain in six days

  29-09-2015 23:03 via news.yahoo.com
  
  NEW YORK (AP) — A rebound in the health care sector helped steady stocks on Tuesday, pushing the Standard & Poor's 500 index to its first gain in six days.
  
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• Jeb Bush energy plan emphasizes U.S. jobs, lower prices

  29-09-2015 22:54 via news.yahoo.com
  
  By Steve Holland WASHINGTON (Reuters) - Republican U.S. presidential candidate Jeb Bush outlined an energy plan on Tuesday that would seek to take greater advantage of booming U.S. oil and natural gas supplies to boost jobs and economic growth. In a speech at Rice Energy Inc., in Canonsburg, Pennsylvania, Bush gave yet another detailed policy speech, presenting himself as a policy heavyweight in a Republican field so far led by Donald Trump. In fact, Bush used Twitter to tweak Trump for releasin
  
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• Brazil energy market settlement seen up to 90 pct insolvent -traders

  29-09-2015 22:45
  SAO PAULO, Sept 29 (Reuters) - Energy traders in Brazil said
  on Tuesday that the upcoming balance of payments expected in
  October for supply contracts on the local energy market settled
  by the CCEE...
  
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• S&P 500 bounces back after nearing August low

  29-09-2015 22:31 via news.yahoo.com
  
  (Reuters) - U.S. stocks ended higher after a volatile session on Tuesday as concerns about the health of the global economy kept investors cautious after more than a month of turbulence.
  
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• Top U.S. spy says skeptical about U.S.-China cyber agreement

  29-09-2015 21:25 via news.yahoo.com
  
  By Andrea Shalal WASHINGTON (Reuters) - The top U.S. intelligence official on Tuesday said he was skeptical that a new cyber U.S.-China cyber agreement would slow a growing torrent of cyber attacks on U.S. computer networks, and said his approach will be to "trust but verify." Director of National Intelligence James Clapper told the Senate Armed Services Committee the agreement did not include specific penalties for violations, but the U.S. government could use economic sanctions and other tools
  
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• Wall Street turns lower as global worries weigh

  29-09-2015 21:24 via news.yahoo.com
  
  (Reuters) - U.S. stocks moved lower on Tuesday as concerns about the health of the global economy kept investors cautious after more than month of turbulence.
  
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• LPC-AB InBev lining up $70 billion debt for SABMiller offer

  29-09-2015 21:09
  
  LONDON (Reuters) - Anheuser-Busch InBevis asking banks to underwrite up to $70 billion in debt financing to back its potential takeover of SABMiller , banking sources said.
  
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• UPDATE 2-IHS beats profits estimates, drops Solera bid

  29-09-2015 20:57
  Sept 29 (Reuters) - Business research provider IHS Inc reported better-than-expected quarterly revenue and profit on Tuesday, and said it was not currently pursuing an acquisition of Solera Holdings...
  
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• Autos key to driving Pacific trade deal over finish line

  29-09-2015 20:55 via news.yahoo.com
  
  By Joanna Zuckerman Bernstein and David Ljunggren MEXICO CITY/OTTAWA (Reuters) - For auto parts manufacturers in the Mexican state of Nuevo Leon, the fine print of a Pacific trade deal negotiators aim to wrap up this week could make or break an export industry boom built up over the last 20 years that is now worth $60 billion. Trade ministers from the 12 countries negotiating the Trans-Pacific Partnership begin meeting in Atlanta on Wednesday and are on the cusp of sealing the biggest trade deal
  
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• Canada elderly outnumber children for first time

  29-09-2015 20:21 via news.yahoo.com
  
  The number of people aged 65 and over has exceeded the number of children in Canada for the first time, with the proportion of the elderly only expected to increase as the Baby Boom generation gets older, data showed on Tuesday. Many countries in the industrialized world are facing aging populations, and the trend has potential ramifications for both economic growth and the labor market as older workers retire. Nearly one in six Canadians, or 16.1 percent, were at least 65 years old as of July,
  
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• Springer accelerates digital push with Business Insider buy

  29-09-2015 20:19
  
  FRANKFURT (Reuters) - German publisher Axel Springer is to buy a further 88 percent of news website Business Insider for $343 million, increasing its stake to 97 percent and accelerating its push...
  
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• Wall Street sheds some early gains as global economy weighs

  29-09-2015 20:13 via news.yahoo.com
  
  U.S. stocks gave up some of their early gains in afternoon trading on Tuesday as investors remained cautious amid lingering concerns about the health of the global economy. A rebound in health care stocks, which looked set to snap a 7-day losing streak, provided some succour to investors worried about a China-led global slowdown. "Investors are still very nervous on the global markets," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.
  
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• Morocco blocks opening of first Ikea

  29-09-2015 20:08 via news.yahoo.com
  
  Morocco blocked Tuesday's planned opening of the kingdom's first Ikea store saying it lacked a "conformity permit", as local media linked the case to Stockholm's position on the disputed Western Sahara. A grand opening was planned for the world's top furniture company in Zenata, on the outskirts of Morocco's economic capital Casablanca. The news website 360, which is close to the royal palace, said the measure was in retaliation for Swedish moves to "recognise" the Sahrawi Arab Democratic Republ
  
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• US market steadies as health care stocks climb

  29-09-2015 19:43 via news.yahoo.com
  
  NEW YORK (AP) — A rebound in health care companies helped steady the stock market on Tuesday, a day after a big sell-off. Drugmakers including Biogen and Vertex Pharmaceuticals were among the biggest gainers. Materials stocks, another sector that posted big losses on Monday, also rose.
  
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• BofA to cut "a couple of hundred" jobs - WSJ

  29-09-2015 19:38 via news.yahoo.com
  
  Bank of America Corp is planning "a couple of hundred" job cuts at its global banking and markets unit, the Wall Street Journal reported. The bank could announce the layoffs as early as Tuesday, the Journal said, citing people familiar with the matter. Bank of America, which had about 216,700 full-time employees as of June 30, declined to comment on the report.
  
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• U.S. says no settlement offer from Electrolux in GE appliance deal fight

  29-09-2015 19:18
  
  WASHINGTON (Reuters) - The U.S. Department of Justice, which is suing to stop Sweden's AB Electrolux from buying General Electric Co's appliance business, said on Tuesday that it had received no...
  
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• Twenty-First Century Fox nominates ValueAct CEO to board

  29-09-2015 18:57
  
  (Reuters) - Twenty-First Century Fox Inc said it agreed to nominate ValueAct Capital Chief Executive Jeffrey Ubben for election to its board as long as the hedge fund maintains a stake of at least 5...
  
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• Oil jumps 2 pct on hopes for U.S. inventory draw

  29-09-2015 18:47 via news.yahoo.com
  
  By Barani Krishnan NEW YORK (Reuters) - Oil prices rose about 2 percent on Tuesday as expectations that U.S. crude inventories dropped in the latest week boosted prices after the previous day's slide. Oil got an early boost as U.S. equity markets rose on strong consumer confidence data in the world's No. 1 economy. As Wall Street retraced much of those gains, oil prices remained up.
  
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• Oil jumps 2 percent on hopes for U.S. inventory draw

  29-09-2015 18:37 via news.yahoo.com
  
  By Barani Krishnan NEW YORK (Reuters) - Oil prices rose about 2 percent on Tuesday as expectations that U.S. crude inventories dropped in the latest week boosted prices after the previous day's slide. Oil got an early boost as U.S. equity markets rose on strong consumer confidence data in the world's No. 1 economy. As Wall Street retraced much of those gains, oil prices remained up.
  
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• US market stabilizes as health care stocks climb

  29-09-2015 18:28 via news.yahoo.com
  
  NEW YORK (AP) — A rebound in health care companies helped steady the stock market on Tuesday, a day after a big sell-off. Drugmakers including Biogen and Vertex Pharmaceuticals were among the biggest gainers. Materials stocks, another sector that posted big losses on Monday, also rose.
  
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• Respecting gay rights is good for business, global companies say

  29-09-2015 18:16 via news.yahoo.com
  
  LONDON (Thomson Reuters Foundation) - Respecting gay and lesbian rights is good for business and helps drive economic growth, a group of 14 leading Western companies including Google, American Express and McKinsey&Company said on Tuesday. The companies said supporting lesbian, gay, bisexual and transgender rights around the world helped drive economic development and allowed such companies to attract and retain the smartest employees. ...
  
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• FTSE dragged down by Wolseley, healthcare despite mining rebound

  29-09-2015 18:02
  * Shire, healthcare stocks suffer U.S. ripples (Updates prices at close)
  
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• Mining giant Glencore rides commodities rollercoaster

  29-09-2015 17:41 via news.yahoo.com
  
  Glencore, a global resources giant which traces its roots back to a Swiss firm launched by the late Marc Rich, a trader who made it onto the FBI's 10 most wanted list, encapsulates all the woes of the commodities crash, and more. Chained down by some $30 billion in debt, and hit by a commodity price collapse as China's economic boom slows and its hunger for raw materials wanes, the group based in Baar, Switzerland, has been at the mercy of volatile financial markets. Since listing on the Hong Ko
  
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• Egypt expects $12.58 billion in additional revenue for 2015/16

  29-09-2015 17:38 via news.yahoo.com
  
  Egypt aims to generate around 98.5 billion Egyptian pounds ($12.58 billion) of additional revenue this financial year by launching economic legislation and financial reforms, Finance Minister Hany Kadry Dimian said on Tuesday. Egypt in July projected revenue for the financial year 2015/16 of 622.2 billion pounds. It also said it expected a budget deficit of 8.9 percent of gross domestic product.
  
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• Tunisia sees 2016 economic growth rising to 2.5 pct

  29-09-2015 17:36 via news.yahoo.com
  
  Tunisia expects economic growth to rise to 2.5 percent in 2016, compared with an expected 0.5 percent in 2015, the finance minister said on Tuesday, after its tourism industry was hit by militant attacks at a Tunis museum and a beach resort hotel.  Slim Cahker said Tunisia will adopt economic reforms next year in the banking and fiscal sectors which would strengthen the economy and raise foreign investment. Tunisia had cut its 2015 growth forecast from a previously expected 3 percent. "In t
  
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• BRIEF-DF Deutsche Forfait files for protection proceedings

  29-09-2015 17:23
  * Files for Schutzschirmverfahren (protection proceedings)
  in order to continue its restructuring process
  
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• UPDATE 2-Yahoo rises on decision to proceed with Alibaba stake spinoff

  29-09-2015 17:21
  Sept 29 (Reuters) - Yahoo Inc shares rose as much as 6 percent on Tuesday after the company said it would proceed with the spinoff of its stake in Chinese e-commerce company Alibaba Group Holding Ltd...
  
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• German inflation back to zero in September: data

  29-09-2015 17:12 via news.yahoo.com
  
  Consumer prices in Germany, Europe's biggest economy, did not rise in September, data showed on Tuesday, raising pressure on the ECB to prevent the wider euro area from slipping into a dangerous cycle of falling prices. Germany's national inflation yardstick, the consumer price index, showed zero change this month, after rising by a meagre 0.2 percent the previous month, the federal statistics office Destatis said.
  
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• Stocks hit two-year lows on commodity pressure; U.S. biotechs bounce

  29-09-2015 17:08 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - Global equity markets touched a two-year low on Tuesday as the outlook for raw materials prices and emerging markets remained soft, while U.S. biotech shares attempted to stabilize after their recent selloff. U.S. stocks were higher after suffering their worst drop in nearly a month in the prior session, boosted by the gains in biotechs. "A lot of traders are hoping that this is the end of the pullback," said Gordon Charlop, a managing director at Rosenb
  
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• Wall Street higher as health care stocks bounce back

  29-09-2015 16:37 via news.yahoo.com
  
  Wall Street was higher on Tuesday as shares of health care companies and raw material producers bounced back and data showed consumer confidence was at its highest since January. The index had been under pressure after U.S. Democratic presidential candidate Hillary Clinton criticized drug pricing. The S&P 500 and the Nasdaq composite index have closed down for the last five sessions.
  
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• Nigeria struggles with unprecedented economic crisis: Senate leader

  29-09-2015 16:33 via news.yahoo.com
  
  Nigeria is struggling with an unprecedented economic crisis due to a plunge in oil revenues undermining the state's ability to provide even basic services, Senate President Bukola Saraki said on Tuesday. The comments by the country's third most powerful person are among the starkest from officials on the extent of an economic crisis hitting Africa's top oil producer. A collapse of global oil prices has whacked public finances and weakened the naira, delaying public salaries and fuelling inflatio
  
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• Japan's Abe calls for 'amicable' and 'stable' China relationship

  29-09-2015 16:32 via news.yahoo.com
  
  Japanese Prime Minister Shinzo Abe said on Tuesday that Japan needed to develop a stable and amicable relationship with China. "Already we have gone through several rounds of summit meetings and we are steadfastly moving to further develop a mutually beneficial relationship based on common strategic interests," Abe said at Bloomberg headquarters in New York. Asked by Bloomberg founder Michael Bloomberg how Japan would deal with China's economic slowdown, Abe said: "Certainly we export a lot, we
  
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• Consumer confidence rises again in September

  29-09-2015 16:17 via news.yahoo.com
  
  WASHINGTON (AP) — The Conference Board says Americans are feeling more confident this month, a good sign for consumer spending and the economy.
  
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• German economy can weather VW crisis: minister

  29-09-2015 15:54 via news.yahoo.com
  
  The emissions scandal engulfing Volkswagen will not harm the German economy if the carmaker deals with it promptly and comprehensively, Economy Minister Sigmar Gabriel said on Tuesday. Volkswagen announced plans on Tuesday to refit up to 11 million vehicles and overhaul its namesake brand following the scandal.
  
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• Wall Street opens higher a day after selloff

  29-09-2015 15:36 via news.yahoo.com
  
  (Reuters) - U.S. stocks open higher on Tuesday, recovering some of their previous day's losses stemming from a selloff in shares of biotechs and raw materials producers.
  
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• Indonesia unveils new stimulus to lift ailing economy

  29-09-2015 15:27 via news.yahoo.com
  
  Indonesia on Tuesday introduced more stimulus measures to woo desperately needed investment, in its latest bid to boost the sliding rupiah and breathe new life into the slowing economy. It was the second time this month that Southeast Asia's top economy has unveiled steps to battle a sharp slowdown, as it comes under pressure with other emerging markets due to a strengthening US economy and turmoil in China. "We are making (investing in Indonesia) as attractive as possible," said Chief Economics
  
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• U.S. home price growth steady in July: S&P/Case-Shiller

  29-09-2015 15:22 via news.yahoo.com
  
  U.S. single-family home prices rose in July, matching the pace of price gains in June but falling just short of expectations, a closely watched survey said on Tuesday. The strongest price gains in July were in the western half of the United States. San Francisco, Denver and Dallas experienced the highest year-over-year home appreciation among the 20 cities with price increases of 10.4 percent, 10.3 percent and 8.7 percent, respectively.
  
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• Global markets steady after rout extended into Asia

  29-09-2015 14:44 via news.yahoo.com
  
  LONDON (AP) — European stock markets recovered their poise Tuesday despite an earlier rout in Asia which featured a 4 percent slide in Japan's main index.
  
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• Saudi's Acwa Power targets 2016 IPO on domestic bourse -CEO

  29-09-2015 14:23 via news.yahoo.com
  
  (Adds CEO quotes, Africa expansion plans) CAPE TOWN, Sept 29 (Reuters) - Saudi Arabia-based power and water project developer, Acwa Power, is aiming for a stock market floatation on the Saudi bourse sometime next year, its chief executive said on Tuesday. The company, which has $27 billion worth of assets, with another $17 billion under construction, is involved in renewable energy projects across Africa and was bullish on its growth. "We are committed to broadening the shareholder base, includi
  
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• For now, Nigerians give Buhari benefit of doubt

  29-09-2015 14:08 via news.yahoo.com
  
  By Ulf Laessing LAGOS (Reuters) - Nigerian beautician Rasheedat Lawal has seen sales at her cosmetics salon plunge since President Muhammadu Buhari came to power but she still thinks the 72-year-old former dictator is the right person to fix Africa's largest economy. "He is trying to fix corruption, and security is better now."     SECOND TIME LUCKY?
  
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• Stocks hit two-year lows as commodities stay pressured

  29-09-2015 13:55 via news.yahoo.com
  
  Commodity prices edged up but held near multi-year lows on concern over an economic slowdown in major consumer China. Mining and trading giant Glencore, whose shares fell by almost a third on Monday on investor concern over its debt levels, eked out gains of 4 percent in London but only after its Hong Kong-listed shares fell 29 percent. Earlier, Asian shares slid to 3 1/2-year lows on concerns a slowdown in China will dent its previously massive demand for commodities.
  
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