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At Close of Business podcast February 5 2026

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Work on Bristol’s tallest building set to start

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It will be two storeys bigger than Castle Park View – currently the highest building in the city

St. James Square, Bristol

St. James Square, Bristol(Image: Olympian Homes)

Work to construct Bristol’s tallest building is set to begin imminently. Developer Olympian Homes was granted planning permission from Bristol City Council in March 2024 to demolish and redevelop the former Haymarket Premier Inn and NCP car park on Rupert Street.

Olympian is now preparing to build a 150-bed, 18-storey co-living tower and a 442-bed, 28-storey purpose built student accommodation block, which will become the highest building in the city.

The Premier Inn, next to the Bearpit, was torn down in May last year. Before the building’s demolition, World War II ordnance experts were brought in to oversee the process after council planners warned there was an “elevated medium risk” of encountering unexploded German bombs, according to our sister site Bristol Live.

The scheme has now received approval from the government’s Building Safety Regulator, which means construction is able to start. It is understood the development is expected to be completed by mid-2028.

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“This outcome has been achieved through a highly collaborative approach, underpinned by the expertise of the project’s design team,” a spokesperson for Olympian said.

Once finished, the student block – named St James House – will be two storeys higher than the current tallest building in Bristol – Castle Park View.

The co-living tower will have amenity space inside and outside totalling more than 1,000 sq metres, while the student block will have nearly 850 sq metres of internal and external amenity space. Both buildings will include communal roof terraces, lounges, gyms, cinema rooms and co-working areas.

Improvements will also be made to the surrounding area, according to Olympian, with the addition of 2,150 sq metres of public realm space. This will include a kiosk, a public café, a new park and plaza connecting through to St James’ Park and offers a direct access route to Bristol bus station.

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The scheme is being delivered in partnership with Cain, with contractor RG Group responsible for the construction of the buildings.

“Having run this application through the newly formed innovation unit, BSR performance was greatly improved and the whole process was achieved in 14 weeks. This is testament to the working relationship of the whole team,” said Richard Goodwin, construction director of Olympian.

“Olympian Homes continues to advance it’s growth strategy despite a challenging market, remaining focused on the acquisition and redevelopment of high quality urban sites that deliver long term value and support meaningful regeneration,” added chair Mark Slatter.

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Hitachi Rail sees revenues rise and profits rise amid continuing investment for the future

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Bosses at the train manufacturer told in latest accounts how it is ‘investing so it can adapt to a changing market’

Hitachi rail factory at Newton Aycliffe

The Hitachi rail factory at Newton Aycliffe(Image: Hitachi)

Train manufacturer Hitachi Rail saw revenues rise but profits fall in a year in which it said it was continuing investment to “adapt to a changing market”. Hitachi, which has a massive 474,000 sq ft plant in Newton Aycliffe, County Durham, has posted accounts for the year ended March 2025 in which revenues rose from £725.1m to £748.4m on the back of higher revenues in operations, service and maintenance.

But the previous year’s operating profit of £5.2m was converted to a loss of £61.9m, a result of the impact of a significant impairment charge made in relation to one particular product. The company makes and supplies rolling stock, railway maintenance and traffic management systems to a host of clients, including ‘British bullet trains’ for HS2 Ltd, battery hybrid trains for Arriva’s Grand Central service, Transpennine Express and East Midlands Railway.

And during the year it said it had “made changing assumptions” over its AT300 SXR Platform development – a specific variant of Hitachi Rail’s AT300 series of trains, which it developed for East Midlands Railway, resulting in the business recognising an impairment charge of £88.5m.

While orders for the particular product could be made in the future, directors said in the accounts: “In the year ending 31 March 2025 a change in assumptions for new market opportunities and new contracts awarded to the company based on a new AT300 platform resulted in a requirement to complete an impairment assessment of the AT300 SXR Platform development. This assessment compared the value in use with the carrying value.”

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A breakdown of revenue showed £115.9m came from long term construction contracts and £632.5m from rendering of services. Employee numbers, meanwhile, rose to 2,636, up from 2,610, and an interim dividend of £56.3m was paid.

The Hitachi manufacturing site at Newton Aycliffe

The Hitachi manufacturing site at Newton Aycliffe(Image: Hitachi)

The accounts also show it made a capital injection in Hitachi ZeroCarbon Limited of £5m, increasing the book value of the investment to £24.99m. Within the report, directors said: “The company continues to explore opportunities for growth and development through bidding for new projects and potential acquisitions.

“The company is investing so it can adapt to a changing market. This includes a greater strategic focus on growth opportunities in digital and green mobility, supported by successfully trialling digital infrastructure monitoring solutions on the UK rail network and developing pioneering battery train technology.

“On 31 May 2024, the company acquired the entire share capital of Centelec UK Limited from Thales SAcfor the acquisition of the Thales’ Ground Transportation Systems (GTS) business. In January 2025, the company agreed to acquire the digital rail monitoring business Omnicom from Balfour Beatty. These acquisitions strengthen the strategic focus on digitalisation and sustainability transformation.”

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The company added that it had access to “an uncommitted £415,000,000 Hitachi Group Treasury loan facility and total cash available to the company including the loan facility is in excess of forecast cash requirements for the year. The company’s ultimate parent Hitachi Ltd has also provided a letter of support to 30 June 2026.”

Like this story? For more news from the manufacturing sector, visit our dedicated page for the latest news and analysis here

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Manhattan announces management changes

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Manhattan announces management changes

Perth-based junior Manhattan Gold Corporation has announced a series of management changes, as it places additional focus on its Hook Lake gold exploration project in Canada.

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MetLife, Inc. (MET) Q4 2025 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Q4: 2026-02-04 Earnings Summary

EPS of $2.49 beats by $0.15

 | Revenue of $24.19B (22.56% Y/Y) misses by $7.44B

MetLife, Inc. (MET) Q4 2025 Earnings Call February 5, 2026 9:00 AM EST

Company Participants

John Hall – Senior VP, Head of Investor Relations & Executive VP and Treasurer
Michel Khalaf – CEO, President & Director
John McCallion – Executive VP, CFO & Head of Investment Management
Ramy Tadros – Regional President of U.S. Business & Head of MetLife Holdings
Lyndon Oliver – Regional President of Asia

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Conference Call Participants

Jamminder Bhullar – JPMorgan Chase & Co, Research Division
Thomas Gallagher – Evercore ISI Institutional Equities, Research Division
Joel Hurwitz – Dowling & Partners Securities, LLC
Suneet Kamath – Jefferies LLC, Research Division
Wesley Carmichael – Wells Fargo Securities, LLC, Research Division
Taylor Scott – Barclays Bank PLC, Research Division

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Presentation

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the MetLife Fourth Quarter and Full Year 2025 Earnings and Outlook Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. Before we get started, I refer you to the cautionary note about forward-looking statements in yesterday’s earnings release and to risk factors discussed in MetLife’s SEC filings.

With that, I will turn the call over to John Hall, Global Head of Investor Relations. Please go ahead.

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John Hall
Senior VP, Head of Investor Relations & Executive VP and Treasurer

Thank you, operator, and good morning, everyone. We appreciate you joining us for MetLife fourth quarter 2025 earnings and near-term outlook call. Before we begin, I’d point you to the information on non-GAAP measures on the Investor Relations portion of metlife.com, in our earnings release and in our quarterly financial supplements, which you should review.

On the call this morning are Michel Khalaf, President and Chief Executive Officer; and John McCallion, Chief Financial Officer and Head of MetLife Investment Management. Also available to participate in the discussion are other members of senior management. Last night, we released an earnings

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Fanatics apologizes over Super Bowl jersey quality, stock issues

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Fanatics apologizes over Super Bowl jersey quality, stock issues

Football fans were left furious after a major sports apparel brand came under fire for multiple Super Bowl merchandising issues ahead of the big game this weekend.

Fanatics released a statement on Tuesday responding to recent backlash on social media over low stock and complaints about the quality of its Super Bowl LX jerseys for the New England Patriots and Seattle Seahawks. 

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“NFL fans, we’ve seen your jersey feedback, and we take it very seriously,” the company’s official X statement read. “We’ve let Patriots and Seahawks fans down with product availability, we own that, and we are sorry.”

Fanatics logo on Buffalo Sabres jersey

Fanatics logo embroidered on an NHL Buffalo Sabres jersey. (Fanatics)

“This Super Bowl matchup has created unprecedented challenges for us because of the massive surge in demand we saw from Patriots and Seahawks fans,” the message continued. “Both teams went from missing the playoffs last season to being in the Super Bowl, an incredibly rare occurrence that led to these two fanbases buying nearly 400% more jerseys since Thanksgiving vs. last year.”

SUPER BOWL SCAMS SURGE IN FEBRUARY AND TARGET YOUR DATA

“Even though we ordered substantially more jerseys for these teams than ever before, we’ve struggled to meet the overwhelming demand to keep team color jerseys in stock, which we know is your expectation. As sports fans, we understand your frustration, and we will work tirelessly to be better.”

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People online also criticized the quality of alternate team jersey options being offered by the company, with some using colorful language to voice their displeasure.

“The Fanatics merch slop monopoly must be annihilated,” one X user posted. Another said, “It cannot be overstated enough just how much Fanatics has destroyed sports merchandise…” 

SEAHAWKS EARN TRIP TO SUPER BOWL LX WITH THRILLING VICTORY OVER RAMS IN NFC CHAMPIONSHIP GAME

One user argued that NFL jerseys were better before Fanatics’ domination of the sports merchandising market. The user wrote, “Insane that the only Patriots Super Bowl uniform you can get at the team store is a design the team doesn’t wear on the field and sells for $160. You used to be able to buy Reebok uniforms with painted numbers for $30 at Marshall’s… what happens when Fanatics has a monopoly.”

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Fanatics Fine Art Drake Maye jersey

Fanatics Fine Art jersey made for New England Patriots quarterback Drake Maye. (Fanatics)

Fanatics also responded to criticism of jersey quality in the press release, defending its products and noting that it is ordering more team-color jerseys and alternate options for consumers as complaints are addressed.

‘NFL REDZONE’ HOST SCOTT HANSON EXPLAINS WHY SAM DARNOLD IS TOP SUPER BOWL LX ‘HUMAN INTEREST STORY’

“We’ve heard questions about the quality of these alternate jerseys and can assure you that, despite some unflattering photos, these jerseys are identical to the standard Nike replica ‘Game’ jersey,” the statement said.

The sportswear giant advised buyers that any product that does not meet their expectations can be returned “free of charge” using the Fanatics app.

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Fanatics Fest

Fanatics CEO Michael Rubin, left, Tom Brady and Travis Scott onstage at Fanatics Fest at Javits Center on June 20, 2025, in New York City. (Slaven Vlasic/Getty Images)

Fanatics is in the midst of a 10-year partnership with the NFL that began in 2020. It became the exclusive distributor of Nike’s adult-sized jerseys and other apparel, boosting its prominence as a dominant player in the online sportswear industry.

The brand has also made recent forays into hosting conventions and the content creation business. The annual Fanatics Fest, featuring some of the biggest names in sports and entertainment, takes place at the Javits Center in New York City, and CEO Michael Rubin recently announced the launch of Fanatics Studios, a new production company that is a joint venture between the brand and OBB Media.

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Bank hints at rate cuts, but don’t expect Covid-era mortgage deals

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Bank hints at rate cuts, but don't expect Covid-era mortgage deals

In total, the Bank reckons two out of five residential borrowers, close to four million, will face a similar situation in the next few years, with an average 8% rise in repayment costs. (Although it also points out one in three are likely to see lower repayments during this time).

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Timberwolves Acquire Julian Phillips in Multi-Player Deal With Bulls

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Timberwolves Acquire Julian Phillips in Multi-Player Deal With Bulls

Julian Phillips is on the move again. The Minnesota Timberwolves have acquired the 22-year-old forward from the Chicago Bulls as part of a blockbuster trade that also sends guard Ayo Dosunmu to Minnesota while Chicago receives rookie guard Rob Dillingham, forward Leonard Miller and four second-round draft picks.

Phillips, who has been sidelined with a wrist injury, spent the past three seasons in Chicago without ever establishing a consistent NBA role. Across 154 career regular-season appearances, he averaged just 11.6 minutes per game, often shuttling between the Bulls’ rotation and the G League.

Timberwolves Acquire Julian Phillips in Multi-Player Deal With Bulls
Timberwolves Acquire Julian Phillips in Multi-Player Deal With Bulls

Bulls continue aggressive roster teardown

The trade marks another significant step in Chicago’s ongoing rebuild, as the front office has aggressively flipped veterans for youth and draft capital ahead of the February deadline. Including this deal, reports indicate the Bulls have accumulated nine second-round picks and nine new players through recent transactions.

Dosunmu, 26, was enjoying a breakout fifth NBA season in his hometown, averaging career highs of 15 points, 3.6 assists and 3 rebounds while shooting over 51 percent from the field and 45 percent from three. Selected by Chicago in the 2021 second round after starring at Illinois, he earned All-Rookie honors but now heads to Minnesota as a key piece for their Western Conference push.

For the Bulls, parting with Dosunmu’s production in exchange for high-upside prospects like Dillingham—who Minnesota selected with an unprotected 2031 first-round pick—and Miller represents a clear bet on the future. Dillingham showed rookie flashes but struggled for consistent minutes behind Minnesota’s established backcourt, while Miller offers size and athleticism as Chicago’s tallest rotation option.

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Phillips’ journeyman path to Minnesota

Phillips enters the league as the 35th overall pick in the 2023 NBA Draft after a promising one-and-done freshman season at Tennessee, where he averaged 8.3 points and 4.7 rebounds while earning Battle 4 Atlantis All-Tournament honors. A consensus five-star recruit originally committed to LSU, Phillips decommitted after a coaching change and chose the Volunteers over South Carolina and Auburn.​

In Chicago, the 6-foot-8 forward was viewed as a defensive prospect with high upside but never translated that potential into steady NBA minutes. Limited by injuries—including his current wrist issue—and a crowded wing rotation, Phillips bounced between the Bulls and their G League affiliate, appearing in just 154 games over three seasons. Fantasy analysts consistently described him as a “depth piece” with bleak production outlook due to minute restrictions.

Now in Minnesota, Phillips faces similar challenges on a deep, contending roster. He is listed as questionable for a potential debut Friday against the Pelicans, pending wrist recovery and coach Chris Finch’s rotation decisions. With established wings like Jaden McDaniels, Kyle Anderson and others ahead of him, consistent minutes appear unlikely in the short term.

Timberwolves reinforce depth for playoff run

Minnesota’s motivation in the deal centers on Dosunmu, who fills a critical need at backup point guard following the recent trade of Mike Conley. The Timberwolves have lacked reliable lead ball-handling off the bench this season, and Dosunmu’s scoring efficiency, defensive versatility and Chicago breakout make him an immediate fit alongside Bones Hyland and Jaylen Clark.

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Including Phillips provides additional frontcourt depth, though his role will likely remain situational. The cost—Dillingham, Miller and four second-rounders—is significant but preserves Minnesota’s first-round picks while adding a low-risk, high-ceiling wing prospect. Reports emphasize that Phillips “won’t benefit much from a change of scenery” given the Wolves’ crowded depth chart, positioning him as organizational depth rather than rotation staple.

Fantasy impact muted across the board

Fantasy basketball analysts have downplayed the deal’s immediate relevance. Phillips’ outlook “remains bleak” due to Minnesota’s minutes crunch, while Dillingham joins a loaded Chicago guard room without a clear path. Miller could see rotation opportunities as the Bulls’ tallest player but lacks standard-league appeal. Dosunmu stands to gain the most, potentially as Minnesota’s primary bench lead guard.

Broader implications for both franchises

For Chicago, the transaction accelerates a rebuild that has already seen departures of Nikola Vučević, Coby White and others. With nine second-round picks and a youth movement underway, the Bulls are prioritizing flexibility over Eastern Conference mediocrity. Dillingham’s upside and Miller’s physical tools headline the return, potentially forming cornerstones if they develop behind Chicago’s crowded backcourt.

Minnesota, twice a Western Conference Finals participant, doubles down on win-now depth. Dosunmu addresses backcourt turnover concerns, while Phillips offers injury insurance without long-term salary commitment. The price tag reflects confidence in the current core’s championship ceiling, even as it mortgages some future assets.

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Phillips’ NBA journey continues in a familiar depth role, but the fresh scenery in Minnesota—combined with his youth and defensive tools—keeps developmental intrigue alive. Whether he carves a niche on a contender or emerges as a trade chip remains the key storyline.

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Gladstone Capital (GLAD) Q1 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Q1: 2026-02-04 Earnings Summary

EPS of $0.50 beats by $0.02

 | Revenue of $24.51M (11.62% Y/Y) misses by $198.33K

Gladstone Capital (GLAD) Q1 2026 Earnings Call February 5, 2026 8:30 AM EST

Company Participants

David Gladstone – Founder, Chairman & CEO
Catherine Gerkis – Director of Investor Relations & ESG
Robert Marcotte – President
Nicole Schaltenbrand – CFO & Treasurer

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Conference Call Participants

Erik Zwick – Lucid Capital Markets, LLC, Research Division
Christopher Nolan – Ladenburg Thalmann & Co. Inc., Research Division
Robert Dodd – Raymond James & Associates, Inc., Research Division
Sean-Paul Adams – B. Riley Securities, Inc., Research Division

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Presentation

Operator

Greetings. Welcome to Gladstone Capital Corporation First Quarter Earnings Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to Mr. David Gladstone, Chief Executive Officer. Thank you, sir. You may begin.

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David Gladstone
Founder, Chairman & CEO

Thank you, Sherry. That was nice, and this is Gladstone Capital’s quarter ending December 31, 2025, call, and thank you all for calling in. We’re always happy to talk to our shareholders and analysts and welcome the opportunity to provide updates on our company and answer any questions. Before we get to this quarter’s results, Catherine Gerkis, our Director of Investor Relations and ESG will provide a brief disclosure regarding certain regulatory matters that we have to adhere to. Go ahead, Catherine.

Catherine Gerkis
Director of Investor Relations & ESG

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Good morning. Today’s call may include forward-looking statements, which are based on management’s estimates, assumptions and projections. There are no guarantees of future performance, and actual results may differ materially from those expressed or implied in these statements due to various uncertainties, including the risk factors set forth in our SEC filings, which you can find on the Investors page of our website, gladstonecapital.com. We assume no obligation to update any of these statements unless required by law.

Please visit our website for a copy

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Quarterly Refunding To Overload Treasury Bills

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Quarterly Refunding To Overload Treasury Bills

Quarterly Refunding To Overload Treasury Bills

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LTC Properties: Growth Plan Comes With Risks (NYSE:LTC)

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LTC Properties: Growth Plan Comes With Risks (NYSE:LTC)

This article was written by

I analyze securities based on value investing, an owner’s mindset, and a long-term horizon. I don’t write sell articles, as those are considered short theses, and I never recommend shorting.I was initially interested in a career in politics, but after reaching a dead-end in 2019 and seeing the financial drain this posed, I choose a path that would make my money work for me and protect me from more setbacks. This brought me to study value investing, in order to grow wealth with risk management in mind.From 2020 to 2022, I worked in a sales role at a law firm. As the top-grossing salesman, I eventually managed a team and contributed to our sales strategy. I spent much of my free time reading books and annual reports, steadily building my vault of knowledge about public companies. This period has since been useful in helping me assess a company’s prospects by its sales strategy. I particularly get excited when the product seems to sell itself.From 2022 to 2023, I worked as an investment advisory rep with Fidelity, primarily with 401K planning. My personal study before that allowed me to pass my Series exams two weeks ahead of schedule, and I once again found myself excelling at the job. I learned a few useful things from this more formal setting, but my main frustration was that I was still a value investor, and Fidelity’s 401K planning was based on modern portfolio theory. Lacking a way to change positions internally, I chose to walk away after a year.I gave writing for Seeking Alpha a try in November of 2023, and I’ve been here since. As I spent those years saving aggressively and building up my base of capital, I also actively invest now. My articles are how I share the opportunities that I seek for myself, and my readers are effectively walking this road alongside me.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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