Sears pins its future on small stores selling appliances, mattresses. Here’s what that looks like

Two other Sears Home & Life stores are also opening in Anchorage, Alaska, and Overland Park, Kansas. Boutros’ team will also consider opening Home & Life shops where there are already full-line Sears stores, if there’s ample demand from Sears’ customers. They also sell small appliances like vacuums, major appliances such as those manufactured under Sears’ Kenmore brand and connected home products. Major appliances including Kenmore and other leading appliance brands, displayed in kitchen vignett


Two other Sears Home & Life stores are also opening in Anchorage, Alaska, and Overland Park, Kansas. Boutros’ team will also consider opening Home & Life shops where there are already full-line Sears stores, if there’s ample demand from Sears’ customers. They also sell small appliances like vacuums, major appliances such as those manufactured under Sears’ Kenmore brand and connected home products. Major appliances including Kenmore and other leading appliance brands, displayed in kitchen vignett
Sears pins its future on small stores selling appliances, mattresses. Here’s what that looks like Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: lauren thomas, steve odland, erik lundh
Keywords: news, cnbc, companies, stores, small, pins, selling, future, life, store, park, looks, brands, kenmore, source, mattresses, overland, heres, sears, appliances


Sears pins its future on small stores selling appliances, mattresses. Here's what that looks like

The grand opening of the new Sears Home & Life store in Lafayette, Louisiana. Two other Sears Home & Life stores are also opening in Anchorage, Alaska, and Overland Park, Kansas. Source: Sears

Like many suburban shopping areas, Overland Park, Kansas, has a Whole Foods grocery store and a Cheesecake Factory. Now, it’s among the first to have a Sears Home & Life store. For five decades, from 1967 to 2017, Sears had presence in the booming town, which is also home to Sprint’s headquarters. But the Sears department store and auto center at 9701 Metcalf Ave. went dark two years ago, to make way for a glitzy mixed-use development. This is the narrative many people associate with Sears these days: store closings and liquidation sales. But a shiny, new Sears Home & Life store is the tale the company wants people talking about as it looks for a fresh start after narrowly escaping liquidation. Sears on Friday is opening its first such smaller-format stores — selling mainly mattresses, appliances and connected home products — in Overland Park and in Anchorage, Alaska, and in Lafayette, Louisiana. The company hopes these areas will draw new customers and nostalgic ones who shopped at now-shuttered Sears department stores in those neighborhoods and want the once-bankrupted brand back.

Sears is taking lessons from its storied past, with more than 125 years in business as an iconic American retailer, combined with its historic strengths in selling home goods like appliances, in hopes of creating its future. But it will also continue to face headwinds — like tariffs on consumer goods — and trendy, digitally native brands — like furniture retailer Wayfair and mattress-maker Casper — encroaching on its turf. “We are looking for alternative ways to build our business,” Peter Boutros, chief brand officer for Sears and Kmart, said ahead of the Overland Park grand opening. “The brand has so much equity, … even with what we’ve been through.” Sears Holdings, which owned Sears and Kmart, filed for bankruptcy protection in October with about 700 stores. A $5.2 billion sale saved the company, including its Kenmore and DieHard brands, and put everything into an entity called Transform Holdco. Transform Holdco is controlled by ESL Investments, a hedge fund owned by former Sears CEO Eddie Lampert, and has about 425 Sears and Kmart locations still operating throughout the country. Sears Home & Life is the company’s next chapter.

The “Welcome” Service Desk at the Sears Home & Life store where customers can meet with experts and explore how new appliances would look in a full-scale kitchen. Source: Sears

“This is an evolution in response to two things in the market,” Boutros said. “We are known for our home services, appliances and mattresses. And the second thing is … customers still want to shop for big-ticket items, lay on a mattress to test it, or talk to a home service expert in a physical store.” The retailer said it designed the Home & Life stores based on feedback gathered from opening a handful of smaller-format stores selling just mattresses and appliances in 2017 in Fort Collins, Colorado, Pharr, Texas, Camp Hill, Pennsylvania, and Honolulu. Those four stores are still open and will now be converted to Home & Life-branded locations. Beyond the three openings Friday, Sears won’t say exactly how many Home & Life locations it plans to operate. But it says it’s already scouting other real estate across the country. And it seems to have a strategy for where it wants these stores to be.

Young families

“We are looking for emerging communities where young families are building homes,” Boutros said. “Also where boomers are downsizing. … What we have to do with the boomers group is win back their trust, win back their confidence — that they will come back and shop with us for all the things we are known for.” Overland Park, for example, is considered one of the better suburbs to raise a family in the Kansas City area, with highly rated public schools. It was recently rated by neighborhood-review site Niche as the No. 1 city to buy a home in the U.S., ahead of places like Plano, Texas, and Raleigh, North Carolina. Boutros’ team will also consider opening Home & Life shops where there are already full-line Sears stores, if there’s ample demand from Sears’ customers. But the new Home & Life locations are just a fraction of that size — at roughly 12,500 square feet — and are going to meet consumers where they’re spending the most time, likely not in enclosed shopping malls. “Personally I think an open-air center … for convenience, driving up … makes more sense for us,” he said. “We are not as encumbered as being inside a mall. There’s more flexibility.”

Mattress display at new Sears Home & Life store featuring top brands including Tempur-Pedic, Beautyrest, Sealy, Serta, Simmons and Stearns & Foster (only available in Overland Park and Lafayette). Source: Sears

The new Home & Life stores offer mattresses from brands like Serta, Sealy and Tempur-Pedic. They also sell small appliances like vacuums, major appliances such as those manufactured under Sears’ Kenmore brand and connected home products. Sears has a deal with Amazon in which some Kenmore appliances, like refrigerators, are now Alexa-enabled. A huge focus of these stores is also service, the company said. The Home & Life location in Overland Park has a service desk where shoppers can bring questions while they’re browsing. It has a “Search Bar,” akin to Apple’s Genius Bar, where shoppers can order anything from either Sears’ or Kmart’s website that’s not in the store and get it delivered. It also includes other services like curbside pickup and buy online pick up in store. To be sure, when compared with other advancements retailers have been making to their bricks-and-mortar stores in recent years, Sears’ upgrades within the Home & Life concept might not seem that exciting. Best Buy’s stores selling appliances have similar help-service bars with trained tech representatives, and expanded delivery options. Same with Home Depot and Lowe’s. Even big-box chains like Walmart and Target will give Sears’ growth strategy a run for its money — they offer many of the same items, like mattresses and appliances. The mattress category in particular is being flooded with competition from start-up brands like Casper, Purple, Leesa, Tuft & Needle, Eight Sleep and Nectar, which sell directly to consumers, bypassing department stores. Mattress Firm is shutting more than 200 locations, as online mattress sales ballooned more than 60% in 2017. Does Sears Home & Life really stand a chance?

The Sears Home & Life store offers Smart Home and Home Services areas, where shoppers can explore connected home products and shop replacement parts for any appliance. Source: Sears

“I’m glad [Lampert] is still trying to find the format that works,” said Alan Lacy, former Sears chairman and CEO. “A point of differentiation with Home & Life is it has the Kenmore brand. That does still have some value, so there’s something to fight with there.” “But a challenge is going to be the appliance category is something people purchase from rarely,” Lacy added. “The principal competitors — Home Depot, Lowe’s and Best Buy — all have shoppers in their stores with more frequency.” Sears’ competitors are more “top of mind” with many consumers in the U.S. today, he said. Each Home Depot, Lowe’s and Best Buy reported same-store sales gains — a closely watched measure of a retailer’s health — during their latest fiscal quarters. Investments in their stores and websites are paying off and clearly still driving traffic. Sears, by contrast, has seen its sales steadily decline. It went 42 quarters with only one three-month period of gains in same-store sales. Its last profitable year was in 2010. In the midst of its bankruptcy proceedings, it lost $318 million during the November-December holiday season, according to SEC filings, though some of that was because of bankruptcy costs.

At the Sears Home & Life store, customers can browse leading appliance brands, including Kenmore, and assorted smart home products in kitchen vignettes. Source: Sears

Lessons from the past

Notably missing from the Sears Home & Life store in Overland Park is apparel, something Sears and Kmart locations have carried for decades. (Clothing and accessories can still be ordered at the store using the Search Bar.) Boutros said Sears — with Home & Life — really has to “lean into what we are known for,” which is its DieHard tool brand, Kenmore washers and dryers, and overall expertise in installing bulky appliances. “We’re not trying to create new categories,” he said. “We’re not trying to create something we’re not.” Of course, just because Sears is putting money into its Home & Life concept doesn’t mean it will work. Sears less than a year ago devoted resources toward completely renovating a store at Oakbrook Center in Illinois. It trimmed the size of the store, added more modern fixtures and mixed up the merchandise. But seven months after the renovations were complete, the store shut in April. Transform Holdco said it opted not to acquire the lease of the Oakbrook store because the location wasn’t making money.

Major appliances including Kenmore and other leading appliance brands, displayed in kitchen vignettes at the new Sears Home & Life store. Source: Sears


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: lauren thomas, steve odland, erik lundh
Keywords: news, cnbc, companies, stores, small, pins, selling, future, life, store, park, looks, brands, kenmore, source, mattresses, overland, heres, sears, appliances


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5G is at the center of America’s beef with Huawei — here’s why it’s such a big deal

5G is also a big topic for Verizon, Sprint, T-Mobile and AT&T. Put simply, 5G is a next-generation wireless network that will give you much faster internet connections. The greater bandwidth of 5G means that more devices can use the network at the same time. Those cables also need to connect to a modem and/or router to provide wireless internet to your house. This is how devices like the Apple TV 4K, your smartphone, computer and other internet gadgets will connect to Verizon’s 5G wireless netwo


5G is also a big topic for Verizon, Sprint, T-Mobile and AT&T. Put simply, 5G is a next-generation wireless network that will give you much faster internet connections. The greater bandwidth of 5G means that more devices can use the network at the same time. Those cables also need to connect to a modem and/or router to provide wireless internet to your house. This is how devices like the Apple TV 4K, your smartphone, computer and other internet gadgets will connect to Verizon’s 5G wireless netwo
5G is at the center of America’s beef with Huawei — here’s why it’s such a big deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: todd haselton
Keywords: news, cnbc, companies, center, deal, beef, tmobile, tv, means, huawei, americas, sprint, network, verizon, internet, heres, big, 5g, cable, wireless


5G is at the center of America's beef with Huawei -- here's why it's such a big deal

5G logo is seen on an android mobile phone with Huawei logo on the background. Omar Marques | LightRocket | Getty Images

You’ve probably heard “5G” a lot recently. It’s been in a lot of stories. It’s at the center of America’s fight with China’s Huawei, which provides cellular equipment for wireless carriers around the globe. 5G is also a big topic for Verizon, Sprint, T-Mobile and AT&T. Those carriers are working to build out the faster networks now, and Sprint and T-Mobile have even used 5G to discuss the competitive landscape in an effort to get merger approval from the Justice Department.

Apple recently ended a bitter, yearslong legal battle with Qualcomm mainly because the chipmaker manufactures some core 5G technology that Apple needs to make future iPhones competitive. But what the heck is 5G? Put simply, 5G is a next-generation wireless network that will give you much faster internet connections. But, because of the way it works, it’s about to change the way lots of other things connect to the internet, too, like cars and TVs, and even things like connected lights on city streets. Here’s what you need to know:

Faster connections, and more of them

Busakorn Pongparnit | Moment | Getty Images

5G promises much faster network speeds, which means heavy-duty content like video should travel much more quickly to connected devices. Verizon’s 5G network, which is live in Minneapolis and Chicago, is already providing speeds in excess of 1Gbps, or about 10 times the speeds you might get on a good day with 4G LTE, the current standard offered by wireless carriers in most places. That means you should be able to download an hourlong high-definition video in seconds instead of minutes. The lower latency of 5G also means that it takes less time for one gadget to talk to another. This is important in places like smart cities that are connecting to smart cars, since information needs to be delivered instantly. One day, 5G might be able to tell your car that someone is about to run a red light and that your car needs to slam on the brakes. In that sort of situation, you can’t have much delay in the network. The greater bandwidth of 5G means that more devices can use the network at the same time. This means it should alleviate problems at places like sports stadiums or concerts where thousands of people may be trying to place a phone call or upload a picture at the same time. In these instances, a network can get jammed up and stops working for everyone. 5G should prevent that from happening.

5G will change the way you get TV and internet at home

Verizon Communications Inc. 5G wireless signage is displayed at the company’s booth during the Mobile World Congress Americas in Los Angeles, California, U.S., on Wednesday, Sept. 12, 2018. Patrick T. Fallon | Bloomberg | Getty Images

Right now, you probably have a cable wire running from the telephone poles on your street to your house. It might come in the attic and then, thanks to some drilling done by the cable guy, snakes its way from room to room connecting to cable boxes. Those cables also need to connect to a modem and/or router to provide wireless internet to your house. That means even if you “cut the cord” and ditch cable, you still need the same coaxial cable line for internet at home. 4G LTE is fast but not quite fast enough for an entire house of people to play games and stream 4K movies at the same time. It makes a poor replacement for wired broadband. According to proponents, 5G will be fast enough for that, and you can forget the cords. It’s supposed to be just as reliable as the wired broadband internet you’re used to, and it could save you a lot of headaches. Verizon has already talked a bit about how this will work. Instead of giving you a bunch of cable boxes and other gadgets, it’s going to simply give you an Apple TV 4K and a wireless modem. Since Verizon isn’t going to run a standard cable line to your house, it’s also going to include a subscription to YouTube TV, YouTube’s streaming service that will provide access to TV channels. YouTube TV normally costs $40 per month, but Verizon’s deal is likely only a limited-time offer. You’ll still have a modem at home, but it’ll connect to Verizon’s wireless 5G signal and then serve as a home Wi-Fi router, complete with standard Ethernet ports. This is how devices like the Apple TV 4K, your smartphone, computer and other internet gadgets will connect to Verizon’s 5G wireless network.

What phones support it?

Samsung Galaxy S10 5G Benjamin Hall | CNBC

It’s still super early in 5G days for phones, but things are about to take off quickly. Verizon and AT&T already have some 5G markets active, and Sprint and T-Mobile will begin rolling them out this year. Verizon is now selling the first 5G phone in the U.S. — the Samsung Galaxy S10 5G — in just two markets. Meanwhile, Sprint’s LG V50 ThinQ 5G launches on May 31 for its first markets. AT&T isn’t selling a true 5G phone just yet, but it’s signed up to sell the Samsung Galaxy S10 5G later this year, as are T-Mobile and Sprint. These are all Android phones, but Apple is expected to have its first 5G iPhone ready in 2020.

How does 5G impact Sprint and T-Mobile’s merger?

John Legere, chief executive officer and president of T-Mobile US Inc., left, gives two thumbs-up as Marcelo Claure, chief executive officer of Sprint Corp., listens during an interview on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, April 30, 2018. Michael Nagle | Bloomberg | Getty Images

5G also plays a role in the proposed merger of T-Mobile and Sprint. Earlier this week, FCC Chairman Ajit Pai recommended that the FCC approve the $26.5 billion merger because he argues that it’ll speed up how quickly the two carriers are able to activate 5G in the U.S. “Two of the FCC’s top priorities are closing the digital divide in rural America and advancing United States leadership in 5G, the next generation of wireless connectivity. The commitments made today by T-Mobile and Sprint would substantially advance each of these critical objectives,” Pai said. But the decision is up to the DOJ, which has antitrust concerns if the two companies join.

Trump says 5G is a race America must win

U.S. President Donald Trump speaks next to Federal Communications Commission (FCC) Commissioner Ajit Pai during an event on United States 5G deployment in the Roosevelt Room of the White House in Washington, U.S., April 12, 2019. Carlos Barria | Reuters

Even President Donald Trump is all in on 5G. In April, Trump said that 5G is a race that America “will win.” He said 92 5G markets will be up and running by the end of the year, which will be ahead of South Korea, which is said to have 48 live at the same time. “According to some estimates, the wireless industry plans to invest $275 billion in 5G networks, creating 3 million American jobs quickly, and adding $500 billion to our economy,” Trump said in April. At the same time, the FCC announced new rules that will make it easier to deploy next-generation networks, including hub and relay antennas, to spur the advancement of 5G. The FCC also announced a $20.4 billion Rural Digital Opportunity Fund to bring faster 5G networks to rural areas, and a new spectrum auction that opens up 3,400 MHz of wireless spectrum for carriers to bid on. The spectrum can be thought of as a highway: the more lanes you have, the more customers you can support and the faster you can go.

5G, Huawei and the U.S. trade war

Richard Yu, CEO of Huawei’s consumer business, speaks as he presents the P30 series smartphone during a launch event in Paris. Marlene Awaad | Bloomberg | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: todd haselton
Keywords: news, cnbc, companies, center, deal, beef, tmobile, tv, means, huawei, americas, sprint, network, verizon, internet, heres, big, 5g, cable, wireless


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Dressbarn is about to close 650 stores — here’s a map of these locations

Dressbarn’s owner Ascena Retail Group said Monday its closing all of its roughly 650 stores, as it hopes to stabilize its business. But as shopping has shifted online and styles have evolved, Ascena has been grappling with sagging sales and a large debt-load. He was replaced as CEO by Gary Muto, who previously was president and CEO of Ascena Brands. Dressbarn generated $164 million in sales in the second quarter of 2019, down 7% from the same quarter a year prior. Ascena earlier this month compl


Dressbarn’s owner Ascena Retail Group said Monday its closing all of its roughly 650 stores, as it hopes to stabilize its business. But as shopping has shifted online and styles have evolved, Ascena has been grappling with sagging sales and a large debt-load. He was replaced as CEO by Gary Muto, who previously was president and CEO of Ascena Brands. Dressbarn generated $164 million in sales in the second quarter of 2019, down 7% from the same quarter a year prior. Ascena earlier this month compl
Dressbarn is about to close 650 stores — here’s a map of these locations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: john w schoen, lauren thomas, lauren hirsch
Keywords: news, cnbc, companies, roughly, map, 650, quarter, online, brands, dressbarn, ceo, ascena, stores, million, locations, sales, month, close, portfolio, heres


Dressbarn is about to close 650 stores — here's a map of these locations

Dressbarn’s owner Ascena Retail Group said Monday its closing all of its roughly 650 stores, as it hopes to stabilize its business.

Ascena has built up a portfolio of apparel brands over the past decade through acquisitions, including plus-size retailer Lane Bryant and women’s apparel brand Ann Taylor. But as shopping has shifted online and styles have evolved, Ascena has been grappling with sagging sales and a large debt-load.

Same-store sales for the year ended July 2018 were down 2%, according to Factset. The company had $1.33 billion in total debt, in the same period. Shares of the company, which have a market value of $214.4 million, are down 55% year-to-date

Looking to stem the losses, Ascena is turning to pruning its less successful brands.

“We are committed to addressing performance at our under-performing brands, and continue to explore opportunities within our portfolio that can allow us to focus capital and management attention on those brands that we believe can deliver sustained growth and profitability by maintaining a differentiated position in the marketplace,” said former CEO David Jaffe in March.

Jaffe retired as CEO and chairman earlier this month. He was replaced as CEO by Gary Muto, who previously was president and CEO of Ascena Brands.

Dressbarn generated $164 million in sales in the second quarter of 2019, down 7% from the same quarter a year prior. Its sales that quarter represented roughly 10% of Ascena’s overall brands.

Ascena, which did not lay out a timeline for the Dressbarn closures, said in a statement Monday customers can continue to shop online and in-stores, where they can get “even better deals and value.”

Ascena earlier this month completed the sale of its Maurice’s brand to an affiliate of OpCapita for roughly $300 million.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: john w schoen, lauren thomas, lauren hirsch
Keywords: news, cnbc, companies, roughly, map, 650, quarter, online, brands, dressbarn, ceo, ascena, stores, million, locations, sales, month, close, portfolio, heres


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Here’s how much a $1,000 investment in Walmart 10 years ago would be worth now


Here’s how much a $1,000 investment in Walmart 10 years ago would be worth now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-16
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Here's how much a $1,000 investment in Walmart 10 years ago would be worth now


Company: cnbc, Activity: cnbc, Date: 2019-05-16
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Here’s how Trump’s latest executive order could affect Huawei

We are ready and willing to engage with the US government and come up with effective measures to ensure product security,” a spokesperson for the company told CNBC. Experts have told CNBC that the U.S. would be able to find alternatives, namely Nokia and Ericsson, but other countries, including in Europe, could get hit. That means U.S. firms will need to get a license from the bureau to sell or transfer technology to Huawei. The Chinese company relies on some components from U.S. companies like


We are ready and willing to engage with the US government and come up with effective measures to ensure product security,” a spokesperson for the company told CNBC. Experts have told CNBC that the U.S. would be able to find alternatives, namely Nokia and Ericsson, but other countries, including in Europe, could get hit. That means U.S. firms will need to get a license from the bureau to sell or transfer technology to Huawei. The Chinese company relies on some components from U.S. companies like
Here’s how Trump’s latest executive order could affect Huawei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: arjun kharpal
Keywords: news, cnbc, companies, huawei, business, huaweis, told, technology, chinese, order, company, 5g, trumps, latest, executive, affect, heres, spokesperson


Here's how Trump's latest executive order could affect Huawei

Huawei claimed Thursday that attempts to restrict the Chinese tech giant from doing business stateside will cause the U.S. to fall behind in the development of next-generation mobile networks — and could raise “other serious legal issues.” On Wednesday, President Donald Trump signed an executive order that gives the government authority to block transactions that involve information or communications technology that “poses an unacceptable risk to the national security of the United States.” According to the executive order, the technology that could be blocked will be that which is “designed, developed, manufactured, or supplied, by persons owned by, controlled by, or subject to the jurisdiction or direction of a foreign adversary.”

Battle for 5G

While Huawei isn’t named in the policy, the U.S. has long-accused the Chinese telecoms equipment maker of being closely-linked to China’s ruling Communist Party. Washington has also alleged that Huawei’s telecom equipment poses a national security risk because it could be used by Beijing for espionage. Huawei has denied these claims. In a statement to CNBC on Thursday, Huawei said that further moves to block it from the U.S. market could have a damaging impact on America’s 5G development. “Huawei is the unparalleled leader in 5G. We are ready and willing to engage with the US government and come up with effective measures to ensure product security,” a spokesperson for the company told CNBC. “Restricting Huawei from doing business in the US will not make the US more secure or stronger; instead, this will only serve to limit the US to inferior yet more expensive alternatives, leaving the US lagging behind in 5G deployment, and eventually harming the interests of US companies and consumers,” the statement said. “In addition, unreasonable restrictions will infringe upon Huawei’s rights and raise other serious legal issues.”

5G refers to the next-generation of mobile networks that promise super-fast download speeds and the ability to underpin new technologies like driverless cars, which require huge amounts of data to be transmitted. The U.S. and China are battling to dominate in 5G as the technology is seen as crucial for the future of both countries’ infrastructure. Washington wants to ensure China has as little influence as possible globally, and trying to block Huawei and its rival ZTE is a key part of that strategy. Huawei has often made the argument that banning it from providing telecom equipment to any country would reduce competition there. Experts have told CNBC that the U.S. would be able to find alternatives, namely Nokia and Ericsson, but other countries, including in Europe, could get hit.

US ‘abusing’ power

Both Huawei and the Chinese government have issued strong statements against the U.S. over the past few months. “For some time, the US has been abusing its national power to tarnish the image of and suppress specific Chinese companies, which is disgraceful and unjust,” said a Chinese foreign ministry spokesperson on Wednesday, before Trump’s impending executive order was officially announced. “The world knows clearly what its intentions are,” said the spokesperson Geng Shuang during a regular media briefing. “We urge the US side to stop oppressing Chinese companies under the pretext of security concerns and provide a fair, just and non-discriminatory environment for their normal investment and operation.” Huawei’s founder and CEO Ren Zhengfei told CNBC earlier this year that the U.S. was “scared” of his company.

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It’s unclear as yet what the fallout will be for Huawei. The company has been relatively absent from the U.S. market for several years. In 2018, just 6.6% of its revenues came from the Americas, with most of that coming from Latin America, according to the company’s latest financial results. It also appears to have made a strong start to the year with revenue up 39% year-on-year for the first quarter of 2019, according to Huawei, which released quarterly earnings for the first time this year.

Reliance on other firms

A bigger concern, however, could be the move by the U.S. to add Huawei to the Bureau of Industry and Security’s so-called Entity List. That means U.S. firms will need to get a license from the bureau to sell or transfer technology to Huawei. The Chinese company relies on some components from U.S. companies like Intel and Qualcomm for smartphones and laptops. Some analysts said this could have a large impact on Huawei. “If fully implemented, the Entity List would immediately deny Huawei access to key hardware and software suppliers for its mobile infrastructure and handset businesses,” Eurasia Group said in a note on Wednesday. “This would also quickly put at risk both the company itself and the networks of Huawei customers around the world, as the firm would be unable to upgrade software and conduct routine maintenance and hardware replacement,” analysts at the political risk consultancy said.

Eurasia Group warned it would “hit virtually all of Huawei’s products, including high-end smart phones, mobile infrastructure, data centers and cloud services, and have immediate global implications for any company utilizing Huawei’s products or services. European carriers, in particular, are likely to be affected quickly.” In addition, Huawei’s consumer business is now its biggest division by revenues and is seen as a key growth driver for the company. Any disruption to the consumer group could impact its overall business. But over the past few years, Huawei has been designing its own chips for its smartphones to reduce reliance on other firms. It has a series of processors, known as Kirin, and a modem, called Balong 5000, that will allow devices to connect to 5G networks. In 2018, 73% of Huawei’s smartphones contained the company’s own chips, according to IDC data. Another 10% were from Taiwanese firm MediaTek, and the remaining 17% were from Qualcomm — but these were mainly for lower-end sub-$200 phones. “Even if — for whatever reason — Qualcomm can’t supply to Huawei, I’m sure MediaTek would be more than happy to pick up their business just given their expertise in low-end devices,” Bryan Ma, vice president of devices research at IDC, told CNBC. However, Huawei relies on American components for its networking equipment and that could be the bigger concern, Ma added. Last year, a list showing what Huawei deemed as “core suppliers,” reportedly released by the company, circulated around Chinese media. Of the 92 suppliers listed, 33 were American. A Huawei spokesperson told CNBC it does not have an official list to provide and declined to offer comments.

Europe to follow?


Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: arjun kharpal
Keywords: news, cnbc, companies, huawei, business, huaweis, told, technology, chinese, order, company, 5g, trumps, latest, executive, affect, heres, spokesperson


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We asked the Democrats running for president how they would negotiate with China on trade. Here’s what they said

China has not been forthright in even admitting that intellectual property theft and technology transfer occurs. On the intellectual property theft, we know that much of the IP theft is state-backed. We should address cybersecurity and intellectual property theft issues directly with China and use the WTO to negotiate trade disputes and establish clear enforcement mechanisms. As we press China on trade and intellectual property theft, we need to demonstrate our resolve in ways that actually help


China has not been forthright in even admitting that intellectual property theft and technology transfer occurs. On the intellectual property theft, we know that much of the IP theft is state-backed. We should address cybersecurity and intellectual property theft issues directly with China and use the WTO to negotiate trade disputes and establish clear enforcement mechanisms. As we press China on trade and intellectual property theft, we need to demonstrate our resolve in ways that actually help
We asked the Democrats running for president how they would negotiate with China on trade. Here’s what they said Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: tucker higgins
Keywords: news, cnbc, companies, practices, property, running, negotiate, democrats, wto, trade, american, president, asked, theft, rights, heres, intellectual, china, chinas


We asked the Democrats running for president how they would negotiate with China on trade. Here's what they said

China’s President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017. Nicolas Asfouri | AFP | Getty Images

With trade negotiations between the U.S. and China stalled and an escalating trade war threatening global markets, President Donald Trump has said that the Chinese are “DREAMING” that he will be defeated by a Democrat in 2020. But Democrats have not said much about their own plans for negotiating with the Chinese. To learn more, CNBC asked the 21 top Democrats running for president about their views. We asked them what they believe is working under Trump — and what they would change. We also asked whether human rights issues in China, where the U.S. has said more than a million Muslims are held in concentration camps, should be part of any trade deal. Lastly, we asked about what they would do about China’s efforts to tighten its military grip on the South China Sea, where more than $3 trillion of trade passes annually. Below, unedited, are our questions and the answers we received from the seven Democrats who responded. Those Democrats are Sen. Bernie Sanders, I-Vt., Rep. Eric Swalwell, D-Calif., Rep. Tim Ryan, D-Ohio, former Maryland Rep. John Delaney, Rep. Seth Moulton, D-Mass., Miramar, Florida, Mayor Wayne Messam and spiritual coach Marianne Williamson. Two other Democrats provided partial responses. A spokesperson for Sen. Michael Bennet, D-Colo., provided an excerpt from the senator’s platform that is included as a response to the first question. An aide to Texas Rep. Beto O’Rourke wrote in a statement: “Holding China accountable should not come at the expense of American workers. That is why we must not settle for any deal that does not respect intellectual property, level the playing field in the Chinese market, nor end unfair trade practices. We must advance progress based on shared interests and core democratic values.” Joe Biden, the Democratic front runner, did not respond to CNBC’s survey as of publication time but has dismissed China’s economic competitiveness while on the campaign trail, earning some criticism from his fellow contenders. “China is going to eat our lunch? Come on, man,” Biden told a crowd in Iowa earlier this month. He described himself as a “fair trader” and said he has been “arguing for a long time that we should treat other countries the way in which they treat us, which is, particularly as it relates to China: If they want to trade here, they’re going to be under the same rules.” CNBC provided the questions to each campaign on May 6. What do you think is the best approach to addressing China’s practices with regard to intellectual property theft, technology transfer, industrial subsidies and other matters in which the two countries are at odds. Is it through multinational organizations like the World Trade Organization and the United Nations? Will you take any action unilaterally? If so, what action? Sanders: It is in the interests of the United States to work to strengthen institutions like the WTO and the UN rather than trying to go it alone. American concerns about China’s technology practices are shared in Europe and across the Asia-Pacific. We can place far more pressure on China to change its policies if we work together with the broader international community and the other developed economies. International institutions also offer China a template for reforming its own internal intellectual property and industrial practices. Swalwell: I’m a member of the House Permanent Select Committee on Intelligence, as well as of the Judiciary Subcommittee on Courts, Intellectual Property, and the Internet, so I’ve seen first-hand the economic espionage that China commits and the adverse impact it has on American businesses. China has not been forthright in even admitting that intellectual property theft and technology transfer occurs. Nor is China transparent on its industrial subsidies. Curbing China’s dishonest practices must be a part of any negotiation; as president, I would hold China accountable. On the intellectual property theft, we know that much of the IP theft is state-backed. In order to combat this we must take a multi-pronged approach — both defensive and offensive. We must have a strong enforcement mechanism with which to hold China accountable for their actions and continue to impose penalties when theft occurs. China has made promises to institute reforms of their policies governing IP rights, technology transfers and cyber-theft of trade secrets in the past but we know these are not being imposed. Read more: Eric Swalwell of California joins 2020 presidential race The legal and diplomatic approaches have not been completely effective, it is critical that we implement other actions such as developing early warning systems, particularly when it comes to the stealing of defense technology. This can be done through private-public partnerships. We must also be ready to take counter action when a theft is detected. It is vital that we continue to have a multinational approach to addressing these issues. We can’t go it alone; we must involve allies — and other victims of China’s practices — such as Japan, South Korea, Australia and New Zealand.

While the U.S. does not have to go through the World Trade Organization and can invoke Section 301 if they are to impose tariffs against China (even though it still has to file a simultaneous complaint with the WTO), the WTO can still be a useful partner. In fact, the WTO has an obligation to enforce the rules they have set up, otherwise it is left to the United States to impose punishment. We should hold the WTO to its obligation. It is also important that U.S. companies acknowledge when theft is occurring by China. In the past, companies have not wanted to impinge on their business with China so they’ve turned a blind eye. I would ensure that reporting this theft it is a win-win for American companies through fair trade practices. Lastly, government departments must coordinate with each other and with U.S. companies. The departments of Commerce and the Treasury, the U.S. Trade Representative and the U.S. State Department must all be aligned to tackle the problem of IP property theft in coordination with the private sector. I would continue to make sure the Justice Department brings criminal cases against the companies that violate trade agreements and steal our trade secrets and intellectual property. I would boost our Trade Representative’s investigation of China’s activities by adding more staff and funding. Ryan: When it comes to China stealing intellectual property from the United States, there is no doubt that multinational organizations need to play a part in holding them accountable. These actions are a serious national security and economic risk for the United States. At the same time, I think our government must take further action when it comes to creating safeguards against China’s actions. That is why I have cosponsored legislation the Fair Trade with China Enforcement Act, which would hold China accountable and create necessary regulations when it comes to trade with China, including prohibiting the sale of national security sensitive technology and intellectual property to China. Read more: Ohio Rep. Tim Ryan — who once tried to take down Nancy Pelosi — is running for president Delaney: China has acted like pirates, stealing intellectual property, building illegal islands, and not playing by the rules. I will build a broad coalition of U.S. allies and have a unified front against China (this will involve working with multinational organizations but also doing a lot more), I will unify our business community against these practices by preventing them from depositing intellectual property funded by taxpayers into joint ventures with China, and I will re-enter the TPP to compete with China. We can hold China accountable and have a productive relationship with them. Read more: What being a successful businessman taught Rep. John Delaney about politics Moulton: These options aren’t mutually exclusive. We should address cybersecurity and intellectual property theft issues directly with China and use the WTO to negotiate trade disputes and establish clear enforcement mechanisms. Protecting our international property is a national security issue, and we need to build a cyberwall to protect against Chinese and Russian attacks. We should start by strengthening the Cyber Threat Intelligence Integration Center created under President Obama and improve the information-sharing between the private sector and government on cyber threats. As we press China on trade and intellectual property theft, we need to demonstrate our resolve in ways that actually help American workers. Donald Trump has shown he knows nothing about trade. An initial analysis of the net effect of the tariffs is that they are costing the United States economy $1.4 billion a month, and the cost of the tariffs is being passed on to U.S. farmers, companies, and consumers. Read more: Seth Moulton is the latest Democrat running for president. Here are his biggest policy priorities, from green jobs to a public option The United States led the 15 years of negotiations that enabled China to join the WTO and we should reap the benefits of that successful diplomatic effort. Our negotiators secured unprecedented changes to China’s economic and trade policies as conditions for membership, including requiring a dramatic opening of China’s telecom, banking, and insurance sectors, along with the lowering of tariffs on key agricultural products to almost zero. The point is: WTO leverage works. China’s membership in the WTO has been a huge boon to the United States, with U.S. exports to China increasing by 500 percent and agricultural exports increasing by 1000 percent since China joined the organization. Going forward, the WTO should absolutely be involved in establishing trust in trade negotiations and in providing the mechanisms for the enforcement of trade agreements. Bennet: Instead of slapping tariffs on our allies and perpetrating a trade war, Michael believes we need to do the hard work of building coalitions to counter Chinese predatory economic practices, like intellectual property theft and economic espionage, that harm American workers, businesses, farmers, and ranchers. In order to compete with and counter an increasingly authoritarian China, Michael believes we must reinvest in our alliances, champion democratic values like the rule of law and human rights, and sharpen our efforts to combat technology threats that undermine U.S. economic and national security.

Messam: The strained trade relations between the U.S. and China is a complex issue that should be confronted with a measured and sober disposition. The combined approach of multinational organizations and unilateral action should be leveraged to protect intellectual property, technology assets, and trade secrets. Before engaging trade wars that could have detrimental impacts to American businesses and our economy, we must seek to solve our trade differences diplomatically. Where multinational organization negotiations don’t work, I would seek specific and direct trade remedies not limited to: • tariffs • blockade on imports of stolen intellectual property Read more: Little-known Florida mayor becomes the latest Democrat vying to take on Trump in 2020 Williamson: The United States Intellectual Property is some of the most valued in the world. According to the USTR, by stealing our intellectual property, China costs American businesses between $225 billion and $600 billion annually. We must use all tools at our disposal to ensure China respects intellectual property law. This will include working with and leveraging the power of the international community to make certain that China engages in fair trade. The U.S. government must also enlist the help and cooperation from American businesses to help solve this problem. Increased internal controls, more robust screening and standardized best practices will make it more difficult for Chinese agents to operate. Many opportunities are a matter of simple theft. More diligence will help curb crimes of opportunity. Lastly, a firm no nonsense stance against China on every front will be necessary to send a clear message that these practices won’t be tolerated. Should a trade deal with China address human rights issues? If not, will your administration address human rights in China and, if so, how? Sanders: Yes. Labor protections are very weak in China, and the rights of workers are an essential component of human rights. The Trump administration has proven itself indifferent to labor rights, and apparently would prefer that American workers are reduced to the position of Chinese workers, rather than that labor everywhere enjoy basic protections and strong standard of living. The Trump administration has also done nothing to pressure China over its abhorrent treatment of the Uighur and Tibetan peoples. Future trade negotiations should, for example, target American corporations that contribute surveillance technologies that enable China’s authoritarian practices. Swalwell: Yes, a trade deal must have a component to address human rights activity. We must be a model for the world and call out countries such as China that violate human rights. Ryan: Yes. As the United States negotiates any future trade deal with China, we must address the human rights violations. The actions we have seen from the Chinese government when it comes to the inhumane treatment of the ethnic minorities is inexcusable. And no future trade agreement can ignore these violations. Delaney: Human rights are a priority to the Delaney Administration.


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: tucker higgins
Keywords: news, cnbc, companies, practices, property, running, negotiate, democrats, wto, trade, american, president, asked, theft, rights, heres, intellectual, china, chinas


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Your Amazon Echo can now guard your home and listen for glass breaking. Here’s how to set it up

Amazon on Tuesday began rolling out Alexa Guard to all Echo devices, including older models that didn’t originally get the feature when it was launched late last year. Alexa Guard automatically listens for things like breaking glass and can alert you if it suspects someone is breaking into your home. Alexa Guard is free but still needs to be manually activated by you. Amazon said it “hired licensed contractors to break real glass in a testing lab,” to help prevent false positives and to detect t


Amazon on Tuesday began rolling out Alexa Guard to all Echo devices, including older models that didn’t originally get the feature when it was launched late last year. Alexa Guard automatically listens for things like breaking glass and can alert you if it suspects someone is breaking into your home. Alexa Guard is free but still needs to be manually activated by you. Amazon said it “hired licensed contractors to break real glass in a testing lab,” to help prevent false positives and to detect t
Your Amazon Echo can now guard your home and listen for glass breaking. Here’s how to set it up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: todd haselton
Keywords: news, cnbc, companies, smart, turn, activate, alarm, guard, glass, echo, breaking, listen, alexa, heres, amazon, automatically, set


Your Amazon Echo can now guard your home and listen for glass breaking. Here's how to set it up

Amazon on Tuesday began rolling out Alexa Guard to all Echo devices, including older models that didn’t originally get the feature when it was launched late last year.

Alexa Guard automatically listens for things like breaking glass and can alert you if it suspects someone is breaking into your home. If you have an ADT or Ring alarm system, it can also automatically set off the alarm. The feature was announced during Amazon’s big Alexa event last September.

Alexa Guard is free but still needs to be manually activated by you. It requires you to first speak “Alexa, I’m leaving” to activate Guard on your Echo and to force Alexa to begin listening for more than just the “Alexa” wake word.

If an Echo hears a window break, it can send you an alert to your phone along with a live video feed if you have an Echo with a camera on it, like the Echo Show. An alert includes a 10-second audio recording of the glass breaking and anything else the Echo heard, but it otherwise doesn’t listen unless you speak Alexa again.

It will also send alerts if a smart smoke alarm or carbon monoxide alarm goes off. If you configure it, Guard can also automatically turn on smart lights at certain times while you’re away, and it will automatically turn them on and off on a schedule as if you’re home.

“Alexa uses machine learning to determine the right lighting activity for your home based on lighting usage across customers,” Amazon said.

Amazon said it “hired licensed contractors to break real glass in a testing lab,” to help prevent false positives and to detect the actual sound of breaking glass. “This team broke hundreds of different windows, in different sizes, including single pane and double pane, with a variety of instruments including crow bars, hammers, bricks, baseball bats, and more,” the company explained in an email to CNBC.

If you subscribe to ADT or use Amazon’s Ring alarm system, Guard can automatically send alerts to professionals so that authorities arrive if a break-in is detected. If you don’t have these systems, Alexa Guard won’t call the police, it’ll just notify you of a potential break-in.

Here’s how to set it up:

Open the Alexa app on your phone.

Tap the menu button on the top left.

Choose “Settings.”

Choose “Guard.”

Tap “Set up Guard.”

Tap “Add” to detect smart smoke alarms and carbon monoxide detectors in your home.

Tap “Add” to activate smart alerts for detecting the sound of broken glass.

Choose “Add” again to activate smart lighting.

Enter your zip code, so smart lighting knows when to turn on.

Choose “Confirm.”

Now just speak “Alexa, I’m leaving” to activate Guard when you leave the house.


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: todd haselton
Keywords: news, cnbc, companies, smart, turn, activate, alarm, guard, glass, echo, breaking, listen, alexa, heres, amazon, automatically, set


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Here’s the net worth of the average American family

Americans say, on average, that it takes a net worth of $2.27 million to be considered “wealthy,” according to a 2019 survey from Charles Schwab. Net worth means assets minus liabilities, so this is a picture of your total savings, including the value of your home, 401(k) and any other assets you may have, minus any debt. How does that compare to the net worth of the typical American family? The average net worth of all U.S. families is $692,100, according to The Federal Reserve’s Survey of Cons


Americans say, on average, that it takes a net worth of $2.27 million to be considered “wealthy,” according to a 2019 survey from Charles Schwab. Net worth means assets minus liabilities, so this is a picture of your total savings, including the value of your home, 401(k) and any other assets you may have, minus any debt. How does that compare to the net worth of the typical American family? The average net worth of all U.S. families is $692,100, according to The Federal Reserve’s Survey of Cons
Here’s the net worth of the average American family Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: kathleen elkins
Keywords: news, cnbc, companies, worth, younger, older, survey, american, minus, average, net, median, heres, age, family, mean, families


Here's the net worth of the average American family

Americans say, on average, that it takes a net worth of $2.27 million to be considered “wealthy,” according to a 2019 survey from Charles Schwab. Net worth means assets minus liabilities, so this is a picture of your total savings, including the value of your home, 401(k) and any other assets you may have, minus any debt.

How does that compare to the net worth of the typical American family?

The average net worth of all U.S. families is $692,100, according to The Federal Reserve’s Survey of Consumer Finances. If you look at the median, or those at the 50th percentile, the amount is significantly lower: $97,300 — and that may be a better gauge, since the super rich can pull up the average.

The Federal Reserve also looked at the mean and median net worth of U.S. families at different ages and found that “median and mean family net worth generally increase with age, with a plateau or modest decreases for the oldest age groups relative to the near-retirement age groups.”

Here’s the mean net worth of U.S. families based on the age of the head of household:

Age 35 or younger: $76,200

Age 35-44: $288,700

Age 45-54: $727,500

Age 55-64: $1.17 million

Age 65-74: $1.07 million

Age 75 or older: $1.07 million

And here’s the median net worth of U.S. families based on the age of the head of household:

Age 35 or younger: $11,100

Age 35-44: $59,800

Age 45-54: $124,200

Age 55-64: $187,300

Age 65-74: $224,100

Age 75 or older: $264,800

Don’t miss: How much money Americans think you need to be considered ‘wealthy’

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Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: kathleen elkins
Keywords: news, cnbc, companies, worth, younger, older, survey, american, minus, average, net, median, heres, age, family, mean, families


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Here’s how to survive a micromanager

Here’s how to survive a micromanager4 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. According to CNBC contributor, Suzy gWelch, there are two techniques to surviving a micromanager — and one surefire way to get yourself fired instead.


Here’s how to survive a micromanager4 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. According to CNBC contributor, Suzy gWelch, there are two techniques to surviving a micromanager — and one surefire way to get yourself fired instead.
Here’s how to survive a micromanager Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-13
Keywords: news, cnbc, companies, techniques, try, surviving, view, browser, enabled, flash, heres, survive, way, micromanager, suzy


Here's how to survive a micromanager

Here’s how to survive a micromanager

4 Hours Ago

To view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again.

According to CNBC contributor, Suzy gWelch, there are two techniques to surviving a micromanager — and one surefire way to get yourself fired instead.


Company: cnbc, Activity: cnbc, Date: 2019-05-13
Keywords: news, cnbc, companies, techniques, try, surviving, view, browser, enabled, flash, heres, survive, way, micromanager, suzy


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Wealth manager: Here’s how to make sure college is worth the cost

Wealth manager: Here’s how to make sure college is worth the cost6 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. “If anyone tells you, ‘you don’t need to get a college degree,’ absolutely ignore that advice,” says wealth manager Peter Mallouk. “The greatest separation between you and your wealth is having a college degree.”


Wealth manager: Here’s how to make sure college is worth the cost6 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. “If anyone tells you, ‘you don’t need to get a college degree,’ absolutely ignore that advice,” says wealth manager Peter Mallouk. “The greatest separation between you and your wealth is having a college degree.”
Wealth manager: Here’s how to make sure college is worth the cost Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-10
Keywords: news, cnbc, companies, flash, need, degree, worth, cost, enabled, view, browser, wealth, heres, college, sure, manager


Wealth manager: Here's how to make sure college is worth the cost

Wealth manager: Here’s how to make sure college is worth the cost

6 Hours Ago

To view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again.

“If anyone tells you, ‘you don’t need to get a college degree,’ absolutely ignore that advice,” says wealth manager Peter Mallouk. “The greatest separation between you and your wealth is having a college degree.”


Company: cnbc, Activity: cnbc, Date: 2019-05-10
Keywords: news, cnbc, companies, flash, need, degree, worth, cost, enabled, view, browser, wealth, heres, college, sure, manager


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