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Yellen Warns Israel Against Cutting off Palestinian Banks

The Treasury secretary said that allies from the Group of 7 nations must work to stabilize the West Bank economy and increase Gaza aid.

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TikTok Moves to Limit Russian and Chinese Media’s Reach in Big Election Year

The platform will keep state-affiliated media accounts out of users’ feeds if they “attempt to reach communities outside their home country on current global events and affairs.”

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China’s distressed asset managers in the spotlight, ‘rescue’ role of troubled state-backed firms questioned amid property woes

China is seeking to defuse financial risks, with asset management companies expected to help other ailing sectors, particularly property developers, but the firms are already highly leveraged due to bond financing and exposure to the troubled real estate sector.

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What Trump 2.0 Could Mean for the Federal Reserve

A second Trump administration could shake up personnel and financial regulation at America’s central bank, people close to his campaign said.

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Some Prominent Silicon Valley Investors Shift to the Right

Marc Andreessen, Chamath Palihapitiya and several other tech venture capitalists are increasingly criticizing President Biden and making their disaffection known in an election year.

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Vet prescription fees could be capped by watchdog

The measure is one move the UK watchdog could take after it completes a formal inquiry into the sector.

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US to sue Ticketmaster owner Live Nation

Officials are expected to challenge the company's business practices, the BBC's US partner CBS News reported.

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China’s solar panel industry seeks to curb ‘vicious competition’ with M&As and easy exits to control capacity as EU, US turn up heat

Falling prices and ‘operational pressures’ are flagged at a meeting of the China Photovoltaic Industry Association amid domestic overcapacity concerns.

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A Second Dairy Worker Has Contracted Bird Flu, C.D.C. Reports

The new case, in a Michigan farmworker, did not suggest that bird flu was widespread in people, health officials said, adding that the risk to the general public remained low.

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Setback Deals Blow to Neuralink’s First Brain Implant Patient, but He Stays Upbeat

Elon Musk’s first human experiment with a computerized brain device developed significant flaws, but the subject, who is paralyzed, has few regrets.

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Abortion Pills May Become Controlled Substances in Louisiana

A bill that is expected to pass would impose prison time and thousands of dollars in fines on people possessing the pills without a prescription.

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Frank Shrontz, 92, Dies; Led Boeing in the Last of Its Golden Years

Known for his leadership and his commitment to company culture, he left as chief executive in 1996, opening the door to a corporate makeover.

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'People are just not worried about being scammed'

Fraudsters are increasingly using AI, but are people taking the problem seriously enough?

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What is it like to fly a plane during turbulence?

Aviation experts tell the BBC what pilots do during turbulence and what passengers should be doing.

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Fintech nightmare: 'I have nearly $38,000 tied up' after Synapse bankruptcy

Synapse is a middle man between customer-facing fintech brands and FDIC-backed banks, but it has had disagreements about how much in customer balances it owed.

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Nvidia, Powered by A.I. Boom, Reports Soaring Revenue and Profits

The Silicon Valley company was again lifted by sales of its artificial intelligence chips, but it faces growing competition and heightened expectations.

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Taiwan’s prized semiconductors not unbreakable ‘silicon shield’ they once were as mainland China, West develop own bargaining chips

The risk of cross-Strait conflict with mainland China appears to be chipping away at Taiwan’s long-held dominance in the semiconductor industry, underpinning a sense of urgency in diversifying hi-tech supply chains.

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Inside the Life of Nicole Shanahan, RFK Jr.’s Running Mate

Nicole Shanahan, a lawyer who was married to Sergey Brin, a Google founder, led a rarefied and sometimes turbulent life in Silicon Valley, according to a Times examination.

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Warner Bros. Discovery and ESPN strike 5-year deal for College Football Playoff games

Warner Bros. Discovery will carry two College Football Playoff games on TNT and Max's sports tier starting in December.

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OpenAI Strikes a Deal to License News Corp Content

The deal gives OpenAI’s chatbots access to new and archived material from The Wall Street Journal, The New York Post, MarketWatch and Barron’s, among others.

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E.l.f. Beauty posts first $1 billion year, but shares fall on weaker-than-expected guidance

E.l.f. Beauty grew sales in the high double-digit percentages again, but it expects that growth to start to moderate in the coming fiscal year.

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Sam Bankman-Fried, FTX Founder, Transferred From Brooklyn Jail

The FTX founder’s final destination wasn’t clear, but Mr. Bankman-Fried has told people close to him that he expected to be moved to a facility in Mendota, Calif.

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CFPB says buy now, pay later firms must comply with U.S. credit card laws

The buy now, pay later market is dominated by fintech firms like Affirm, Klarna and PayPal.

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Target shares slide as consumers buy fewer groceries and home goods

Big-box retailer Target reported first-quarter earnings days after it said it would lower prices on thousands of groceries and everyday items.

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Australian wine pours back into China as tariff-free shipments surge to over US$10 million in April

China imported over US$10 million of wine from Australia in April, up from US$126,000 a year earlier, after it lifted punitive import tariffs at the end of March.

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C. Gordon Bell, Creator of a Personal Computer Prototype, Dies at 89

It cost $18,000 when it was introduced in 1965, but it bridged the world between room-size mainframes and the modern desktop.

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Why Target and McDonald's are cutting prices and offering deals

Target's weak results show the fierce battle between retailers trying to outmatch each other on deals.

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Pfizer aims to save $1.5 billion by 2027 in first wave of new cost cuts

Pfizer is also carrying out another $4 billion cost-cutting effort, which it announced last year as demand for its Covid vaccine and drug Paxlovid slumped. 

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Fraud Trial Begins for Chinese Billionaire Who Allied Himself With America’s Right

Charged with defrauding thousands of investors in the U.S. and overseas of more than $1 billion, Guo Wengui could face decades in prison.

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Fed Minutes Show Officials Were Wary About Inflation at May Meeting

Federal Reserve policymakers were still willing to raise rates if the economy surprised them, notes from their most recent meeting suggested.

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U.K. Inflation Falls to 2.3%, Lowest in 3 Years

The decline, which was less than economists expected, is nearing the Bank of England’s 2 percent target.

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Rollback in IRA's EV incentives would benefit China, says GM board member

The IRA includes incentives for EV buyers as well as support for carmakers and suppliers to produce all-electric vehicles and their components in North America.

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Ex-Post Office boss cries as she admits incorrect evidence

Paula Vennells broke down several times during her evidence to the Horizon IT scandal inquiry.

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Home sales slipped unexpectedly in April, despite big gains in supply

Inventory in April rose 9% month to month and was up 16% from the year before, but still just a 3.5-month supply at the current sales pace.

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Businesses in D.C. Blame the Government for the District’s Empty Offices

Workers in Washington have returned to the office slowly, with a pervasive and pronounced effect on the local economy.

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GM all-electric Chevy Equinox goes on sale as the latest test for EV production and demand

Affordable entry-level EV pricing has long been a goal for GM, Tesla and others as Chinese rivals like BYD and Nio grow their sales beyond China.

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‘Extreme Turbulence’ on Singapore Airlines Flight Kills 1 and Injures Dozens

A Singapore Airlines flight from London was diverted to Bangkok, where more than 70 people were being treated for injuries.

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Why Gen Z College Students Are Seeking Tech and Finance Jobs

Many of Harvard’s Generation Z say “sellout” is not an insult.

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It's not your imagination. Pickleball courts are everywhere

Pickleball courts have become big business as franchises, country clubs and fitness clubs build and convert space.

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Chinese companies look to Qatar as Middle East entry point, alternative to fickle West

Qatar is emerging as a potential destination for Chinese businesses and investment looking to find a way into the Middle East or Africa, with more companies showing interest in setting up a foothold in the Persian Gulf.

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What to Watch For in Nvidia’s Q1 Earnings Report

Expectations are sky-high for the chipmaker’s latest earnings report. The company is at the center of Wall Street’s focus on artificial intelligence.

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Chinese carmaker FAW joins Nio to promote battery-swap technology to ease anxieties over EV driving range

Nio’s battery-swapping technology is gaining a huge supporter in state-owned FAW Group as both pledge to set industry standards and ease concerns about drivers about EV driving range.

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Inflation rate falls to lowest in almost three years

Prices rose at 2.3% in the year to April, down from 3.2% the month before, official figures said.

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Relax, China’s economy is not headed for a crisis

While it would help if Chinese households saved less and spent more, the economy is probably in a much better position than the pessimists claim

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What went wrong for online car retailer Cazoo?

As Cazoo enters administration, we look at the rise and fall of the online used car retailer.

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Europe Wants to Build a Stronger Defense Industry, but Can’t Decide How

Conflicting political visions, competitive jockeying and American dominance stand in the way of a more coordinated and efficient military machine.

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Bruce Nordstrom, Who Helped Lead His Family’s Retail Empire, Dies at 90

Though he was the company’s president, he opted for joint leadership with family members as they made Nordstrom, starting as a string of shoe stores, into an international fashion retail brand.

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Ivan F. Boesky, Rogue Trader in 1980s Wall Street Scandal, Dies at 87

An inspiration for the Gordon Gekko character in the movie “Wall Street,” he made a fortune from insider trading before his downfall brought a crashing end to a decade of greed.

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China’s overcapacity presents ‘opportunity’ for British service firms as businesses go global

The British Chamber of Commerce in China sees potential for benefit in China’s excess manufacturing capacity, with British firms capable of providing necessary services as firms go global.

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Taylor Swift and Olympics scams fuelling fraud

Money lost to fraud fell last year, but purchase and romance scams are on the rise.

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UK watchdog looking into Microsoft AI taking screenshots

The ICO wants to know the safeguards around Recall, which can take screengrabs of your screen every few seconds.

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McDonald's franchisee group says $5 value meal can't last without company investment

The $5 value meal will hit menu boards beginning June 25 and will last roughly a month.

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Macy’s beats earnings estimates, as turnaround plan shows early progress

Macy's beat earnings estimates as the department store operator moves to close about 150 namesake locations and open new Bloomingdale's and Bluemercury stores.

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Short seller alleges Oddity Tech is misleading investors

Oddity Tech has told investors that its business is online only, but short seller Ningi Research said it operates a fleet of stores in Israel.

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China’s durian prices drop as Vietnam steps in to make up for gaps in Thai supply

China’s durian market is showing signs of change, with a drop in price attributed to more supply from Vietnam, a deadly heatwave in major exporter Thailand and a tightening of consumer budgets.

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Craig Wright Is Not Bitcoin Creator Satoshi Nakamoto, Court Rules

For years, Craig Steven Wright, an Australian cryptocurrency enthusiast, claimed to be Satoshi Nakamoto, the mysterious creator of Bitcoin. Then the courts got involved.

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Donald Trump’s Wealth Now Hinges on Trump Media

Mr. Trump has treated Trump Media, which runs his social network Truth Social, as a low-cost sideshow. Now a big portion of his wealth hinges on its success.

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Media giants lean on sports as Hollywood strikes still loom over content slates

Media companies charming advertisers during the Upfront meetings let sports take center stage as content slates still suffer from last year's Hollywood strikes.

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Scarlett Johansson Said No, but OpenAI’s Virtual Assistant Sounds Just Like Her

Last week, the company released a chatbot with an option that sounded like the actress, who provided the voice of an A.I. system in the movie “Her.”

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Here's where rents are rising — and where they're falling

Of the nation's 20 largest cities, Seattle saw the highest year-over-year increase in single-family rents, followed by New York and Boston.

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China considering car tariffs to retaliate against US and EU moves, trade group says

Washington has announced tariff hikes on a wide range of Chinese goods, while Brussels has taken actions to tackle Chinese subsidies to various industries.

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Rent Is Harder to Handle and Inflation Is a Burden, a Fed Financial Survey Finds

The Federal Reserve’s 2023 survey on household financial well-being found Americans excelling in the job market but struggling with prices.

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Lowe's beats on earnings and revenue, even as consumers spend less on DIY projects

The home improvement retailer Lowe's said sales fell again year over year, and it reiterated its full-year earnings forecast.

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David Redden, Who Brought Ingenuity to the Auction Block, Dies at 75

He brought a P.T. Barnum-like showmanship to Sotheby’s, where he sold items like Babe Ruth’s bat and a research rover that had been left behind on the moon.

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Pixar Lays Off 14% of Its Staff and Will Stop Making Shows for Disney+

The animation studio, which has struggled over the past few years, will stop making original shows for Disney+.

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Pixar is laying off 14% of its workforce as Disney scales back content

About 14% of the workforce at Disney's Pixar Animation Studios, or around 175 employees, are being laid off.

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Macy’s Reports Another Drop in Sales but Sees ‘Traction’ in Turnaround

The largest department store chain in the United States has not reported an increase in comparable-store sales since early 2022.

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How the Media Is Covering Justice Merchan in Trump’s Criminal Trial

Conservative outlets have criticized Justice Juan M. Merchan as politically motivated, while some liberal media organizations have praised him for muzzling Mr. Trump.

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U.S. Seeks to Join Forces With Europe to Combat Excess Chinese Goods

Treasury Secretary Janet L. Yellen warned that China’s industrial strategy posed a global threat that requires a united response.

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China must ‘liberate’ mind, embrace primary market treasury-bond purchases by central bank: finance ministry researcher

China’s central bank is set to participate in treasury-bond trading in the secondary market, and a prominent researcher affiliated with the Ministry of Finance says purchases in the primary market should also be made.

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Water firms ask for bill rises of between 24% and 91%

Southern Water wants to increase its bills by £436 a year, but is not expected to get approval.

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Trump Calls ‘Apprentice’ Biopic at Cannes ‘Garbage’ and Plans to Sue

The director of “The Apprentice” was unfazed by the threat to the film, which covers the ex-president’s relationships with his first wife and the fixer Roy Cohn.

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What We Lose When ChatGPT Sounds Like Scarlett Johansson

OpenAI has good reason to aim for a bot voice à la the one in “Her.” But that film was about relationships. What does this real-world turn say about us?

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The Paperless Post Founders Changed How We Party

When James and Alexa Hirschfeld started Paperless Post 15 years ago, some saw its digital invitations as a fad. Instead, they have become a fixture of events and have spawned imitators.

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Rates should be cut to 3.5% by end of 2025, IMF says

The international body upgrades its UK growth forecast and says rates could fall to 4.5% by the end of 2024.

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Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users

Nestle's Vital Pursuit brand's initial lineup of 12 items will include frozen bowls with whole grains or protein pasta, sandwich melts and pizzas.

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Xpeng trims net loss in first quarter as deliveries, margins increase and licensing fees from VW jump

Xpeng narrowed its losses last quarter as deliveries and vehicle margins improved. Technology licensing fees from Volkswagen also helped.

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Import tariffs ‘inevitably’ making US inflation worse, China commentary says, as consumers and firms continue to foot the bill

Commentary from China’s top economic planner says Washington’s anti-globalisation, decoupling and disconnection efforts have ‘inevitably’ hurt US inflation.

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Family offices become prime targets for cyber hacks and ransomware

With their large wealth and small staffs, family offices have become lucrative targets for hackers and cybercriminals, experts say.

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Scarlett Johansson and OpenAI’s Trust Issues

The actress, who criticized the use of a soundalike voice for ChatGPT, is the latest to raise concerns about the artificial intelligence start-up’s practices.

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BMW and Jaguar used banned China parts - US probe

The car makers used parts made by a supplier banned over alleged links to Chinese forced labour.

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Industry bosses cast doubt on jobs 'bootcamp' plans

The plans will see benefit claimants get training for roles in sectors such as hospitality and care.

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Food price rises 'returning to normal'

Grocery price inflation falls to its lowest since October 2021 but shoppers are still buying own-brand goods.

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China’s returning overseas graduates hit in the pocket, face harsh reality of job market

Students with overseas undergraduate degrees in China earn an average first monthly salary about 2,700 yuan (US$374) below their expected income, according to a survey.

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China National Nuclear Power starts work on nation’s largest offshore solar farm

The 2GW pilot project is coming up near its nuclear plant in Jiangsu province. The US$1.4 billion project will include a 0.4GW energy-storage facility and cover an area larger than Hong Kong’s Tseung Kwan O district.

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China’s overcapacity so ‘deeply rooted’ at local levels that analysts say its ebbs and flows have underpinned economy for decades

The tsunami of new-energy manufacturing flooding the industry is not the first time a wave of Chinese goods has forced institutional upheavals and left foreign firms with little room to compete.

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These elephants are dying on rail tracks - can AI save them?

Officials in the Indian state of Tamil Nadu are using AI to monitor elephant movement on rail tracks.

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China’s GPS rival BeiDou prepares to take off as Beijing moves to strengthen home-grown satellite navigation

Chinese satnav industry hits US$74 billion output, has 20,000 market entities and employs nearly 1 million people: report.

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Electricity grids creak as AI demands soar

Data centre electricity demand is forecast to double in four years, putting energy grids under pressure.

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Children top up pocket money with extra work

Doing housework and developing side hustles is helping kids top up pocket money, a report claims.

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Trial to Begin for Ozy Founder Carlos Watson

Mr. Watson’s lawyer has argued that many other media leaders lured investors with “puffing and bluffing,” and that Mr. Watson is being singled out because he is Black.

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JPMorgan CEO Jamie Dimon signals retirement is closer than ever

The ambiguity of Dimon's plans has made succession timing at JPMorgan one of the persistent questions for the bank's investors and analysts.

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Trump Media Reports $770,000 in Revenue for First Quarter and Large Losses

The former president’s social media company reported taking in $770,000 in advertising revenue in the first quarter, sharply down from the year-earlier period.

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FDIC Chief Gruenberg to Resign and Biden Will Choose His Successor

Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation, said he would step down once the Senate confirmed a successor.

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Peloton shares drop after it announces refinancing to stave off cash crunch

Peloton is in the middle of a broad restructuring as it looks to align the size of its business with its slowing sales and avoid a cash crunch.

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Russia’s War Machine Revs Up as the West’s Plan to Cap Oil Revenues Sputters

Russia has largely evaded attempts by the U.S. and Europe to keep it from profiting from its energy exports.

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Jamie Dimon says JPMorgan stock is too expensive: 'We're not going to buy back a lot'

JPMorgan Chase has seen its shares surge 40% over the past year, reaching a 52-week high on Monday before Dimon's comments dinged the stock.

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Wendy's will offer $3 breakfast deal, as rivals such as McDonald's test value meals to drive sales

Starting Monday, Wendy's will offer a $3 breakfast combination meal deal, following a similar yet limited value meal option by McDonald's.

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How Macy’s, Kohl’s and Nordstrom are chasing Millennial, Gen Z shoppers

Baby boomers make up a sizeable chunk of the retailers' shoppers and investors aren't convinced that Gen Z and Millennials will age into shopping at the stores.

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Shares of Hims & Hers Health surge 27% after startup says it will offer GLP-1 injections

The GLP-1 market has faced supply constraints in recent months as drugs like Ozempic and Wegovy continue to skyrocket in popularity.

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Red Lobster files for Chapter 11 bankruptcy protection

A disastrous "endless shrimp" promotion and a lease-back agreement orchestrated by Red Lobster's previous private equity owners contributed to its demise.

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Senate Inquiry Finds BMW Imported Cars Tied to Forced Labor in China

The report also found that Jaguar Land Rover and Volkswagen bought parts from a supplier the U.S. government had singled out for its practices in Xinjiang.

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James Greenfield, Globe-Trotting Reporter and Times Editor, Dies at 99

He wrote about world affairs for Time magazine and worked at the State Department before becoming a senior editor at The New York Times in 1967.

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Renting or Buying Is Often Personal, but It’s Also Helpful to Look at the Numbers

The Upshot’s financial calculator has been updated with new features.

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Are consumers pulling back on spending? It depends on which CEO you ask

Companies like PepsiCo have warned about a weak low-income consumer, while Delta Air Lines and Chipotle have benefited from their high-income customer bases.

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Spirit Airlines gets rid of change and cancellation fees, joining Frontier

Spirit used to charge anywhere between $69 and $119 for ticket changes and cancellations, depending on how close to departure the customer made the change.

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Water investors have withdrawn billions, says research

A report suggests shareholders have taken billons but failed to invest as water bills look set to rise.

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Ryanair sees rises in air fares easing over summer

Airline profits rise despite fuel costs as it warns deliveries of Boeing jets could be further delayed

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Summer interest rate cut possible, says Bank deputy

Ben Broadbent's comments come ahead of data which is expected to show a fall in inflation.

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Pretty Little Thing warned over 'misleading' ads

The advertising watchdog says the ads "must not appear again" on the company's social media sites.

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Why Biden won’t beat China by out-Trumping Trump on trade tariffs

Joe Biden’s decision to double down on Donald Trump’s China tariffs harks back to policies that might have worked in the 1980s, and is a loser. He was on the right track with building US economic muscle at home, and he and the country would be better served by focusing on that.

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Farm Animals Are Hauled All Over the Country. So Are Their Pathogens.

Tens of millions of farm animals cross state lines every year, traveling in cramped, stressful conditions that can facilitate the spread of disease.

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Ex-Employees Raise Concerns About Safety at OpenAI

Former employees of the ChatGPT maker raised concerns that it isn’t doing enough to make sure its products don’t pose a threat to humanity.

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BT scraps digital landline switch deadline

BT has ditched its timetable to move landline customers from copper wire to digital.

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China property: will fleet of policies to buoy sales stem slack tides in the housing market?

By allowing local governments and state-owned enterprises to buy unsold land and housing from distressed developers, China is betting a property slump weighing down the economy can be stopped once and for all.

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Tesla’s closest rival in China Li Auto reports a big drop in first-quarter earnings, margins in warning to EV market peers

Tesla’s closest rival in China’s EV market reported a major setback in the first quarter, after earnings and deliveries slumped from the preceding three months. Margins eroded amid price discounting.

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Chinese EV makers delay payments to vendors as they feel the heat from slowing sales, price cuts

China’s leading EV makers are taking longer to settle payments with suppliers, indicating stress in the industry because of slowing sales and mounting discounts.

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Who is Paula Vennells? Ex-Post Office boss in Horizon IT inquiry

The ordained priest who led the Post Office from 2012 to 2019 faces three days of questioning at the Horizon Inquiry.

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Europe seemingly still split over China after Xi Jinping’s whistle stop tour does little to tip the scales

In this week’s issue of the Global Impact newsletter, we look back at Chinese President Xi Jinping’s trip to France, Serbia and Hungary, and ponder what has changed in the ever-complex relationship between Beijing and Brussels.

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Chinese Firms Face Authoritarianism at Home and Hostility Abroad

The experience of TikTok’s owner, ByteDance, in Beijing and Washington shows how much the ground has shifted for China’s entrepreneurs.

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Disneyland Character Workers at California Park Vote to Unionize

The vote determined whether 1,700 workers who play characters such as Mickey and Minnie Mouse and who dance at parades could join the union representing other workers at the park in Anaheim, Calif.

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Hong Kong stocks rise to 10-month highs after China’s property rescue measures

Hong Kong stocks at 10-month highs after China’s property support measures cheer investors.

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China hits back at US and EU as trade rows deepen

Last week, Washington announce new tariffs on Chinese imports including electric cars and solar panels.

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China leaves benchmark lending rates unchanged, days after ‘historic’ steps to stabilise crisis-hit property sector

China left benchmark lending rates unchanged on Monday having last week announced ‘historic’ steps to stabilise its crisis-hit property sector.

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How should countries deal with falling birth rates?

As the UK and US continue to see falling birth rates, options to deal with the issue are limited.

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What must China do to avoid a Japan-type recession? Economist Richard Koo adds up why ‘the Chinese situation is far more serious’

Economist Richard Koo’s theories influenced Western policy decisions after the global financial crisis, and now he has strong words for Chinese policymakers on the need for fiscal stimulus to ward off a ‘balance-sheet recession’.

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How Lowriders Put a Vivid Stamp on New York City’s Car Scene

These lovingly customized cars, long embraced as a way to celebrate Mexican American culture and bring families together, are gaining visibility and respect as bouncing, rolling works of art.

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How Companies Dodge Tariffs

Protectionist trade policies are popular on both the left and right. But some economists say they’re likely to backfire.

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How can China get the best tech? Keep calm and learn from the US, economist says

Yao Yang from Peking University says a developed, capitalist market and openness to immigrants helped the United States lead the way over the past century.

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Virgin Trains targets West Coast in return to rail

Virgin Group has applied for a licence to run trains on the route it lost to Avanti in 2019.

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Western concerns about Chinese oversupplies are woefully misplaced

The West misunderstands China’s efforts at boosting innovation and satisfying domestic demand as seeking to undermine foreign competitors. While oversupply is a valid concern, a bigger problem is concentrated production among a small cluster of firms which US tariffs on China will not address.

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How to Create a Strong Financial Plan When You’re Renting Forever

Either by choice or because they are priced out of the market, many people plan to never stop renting. Building wealth without home equity requires a different mind-set.

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China’s diamond industry having a hard time, any way you cut it, as more consumers go for gold

With consumption taking a hit in fraught economic times, safe-haven investments are outshining discretionary diamond purchases in the eyes of many Chinese buyers.

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China’s corruption watchdog targets Agriculture Minister Tang Renjian

Tang is the first member of the Communist Party’s current Central Committee to come under investigation for ‘discipline violations’.

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'I had no choice but to get a 35-year mortgage'

With more young homebuyers opting for ultra-long mortgages, we hear from people about their personal experiences.

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Fujitsu sacked boss at height of Horizon scandal

Global president Rod Vawdrey then returned to Australia and made millions in a "train wreck" float.

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What’s BlackRock Without Larry Fink? Shareholders Fret About Future.

Investors in the world’s biggest asset manager are asking how much more room it has to grow and who will drive that growth once its chief executive retires.

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A Loss at Mercedes-Benz Slows U.A.W.’s Southern Campaign

After Mercedes workers voted against joining the United Automobile Workers, the union will have less momentum as it campaigns to organize Southern factories.

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What Caitlin Clark’s Arrival Could Mean for WNBA’s Business

Clark’s arrival has many betting on the W.N.B.A.’s success. But certain structural disadvantages persist, including how much the players earn.

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Why TikTok Users Are Blocking Celebrities

A TikTok movement is calling for followers to block famous people over their stances on the Israel-Hamas war. It began at the Met Gala.

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What to Do With an Inheritance

A sudden windfall while grieving can be an emotional minefield, particularly for younger adults. Experts share ways to handle it wisely.

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The Night That Sotheby’s Was Crypto-Punked

The auction that was supposed to be an art world coming-out party for NFTs instead exposed the instability at the heart of the crypto world.

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Is another Asian currency crisis coming? Keep an eye on China’s yuan

Concerns about an Asian currency war and what it would mean for the world economy have been underpinned by a strong US dollar. Some economies may choose to intervene in currency markets, but the big question is whether China will devalue the yuan or proceed with caution

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Biden’s China Tariffs Are the End of an Era for Cheap Chinese Goods

The president’s move to protect strategic manufacturing sectors from low-cost competition aims to increase jobs, but consumers might not like the costs.

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China’s high-speed railway in Indonesia is adding trips – but debt could hold back the gravy train

A Chinese high-speed railway line in Indonesia has been open for six months – and is popular enough that new trips have been added – but high debt levels are raising questions about its long-term utility.

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Chinese carmaker Chery banks on battery technology to rev up transition to EVs, eyeing Gotion’s solid-state type

State-owned company plans to be first to use Gotion High-Tech’s solid-state batteries when they start mass production, chairman Yin Tongyue says.

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Sony and Apollo Take Key Step in Bid for Paramount’s Assets

The two companies have expressed interest in acquiring the media conglomerate, but are backing away from their $26 billion all-cash offer.

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Mercedes-Benz workers in Alabama vote against UAW union membership

The results are a blow to the UAW's organizing efforts a month after the Detroit union won an organizing drive of Volkswagen plant workers in Tennessee.

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China’s April economic data delivers ‘mixed bag’: 6 takeaways as property slump drags on

Property investment in China fell again in the first four months of the year and retail sales growth cooled in April, but industrial output remained strong last month, data released on Friday showed.

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China property: Beijing launches US$41 billion of funds to buy unsold homes, repurchase of ‘idle’ land in drive to rescue housing market

Beijing has announced 300 billion-yuan in funds to help clear excess housing inventory, as well as measures to ensure developers have access to financing and that homes are delivered on time.

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China outlook ‘strongly negative’ for German engineers, with poor demand and overcapacity named as culprits

German industrial engineering firms reported a negative outlook for their China business in a recent survey, with weak demand and overcapacity most frequently mentioned as the cause for their low confidence.

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Chinese Vice-Premier He Lifeng calls on cities to buy back residential land, unsold homes to aid distressed developers

He Lifeng stressed the need to ‘carry on the battle’ to surmount the risks that unfinished and unconstructed homes represent, as the health of the property market is tied closely to social wellness and economic development.

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China tests rail gun, Lawrence Wong ‘pride of Hainan’, Cathay bosses’ hefty pay rise: SCMP’s 7 highlights of the week

From China’s rail gun sending smart bomb into stratosphere to Singapore’s Lawrence Wong being ‘pride of Hainan’, here are a few highlights from SCMP’s recent reporting.

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China’s ‘deteriorating’ property sector weighs heavy, but measures offer hope to economy

China’s property investment fall accelerated in the first four months of the year, while retail sales growth slowed in April, data released on Friday showed.

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Is China's bubble tea bubble about to burst?

Chinese bubble tea shares fizzle, raising questions about the industry and Hong Kong's stock market.

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China’s medical testing sector scales down with pandemic peak in rear-view

With the end of pandemic control measures severely reducing the demand for medical testing services, China’s laboratories are facing massive declines in revenue and laying off large portions of their staff.

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Xi Jinping and Vladimir Putin pledge to develop even closer China-Russia ties in energy and finance

Bilateral trade, an important lifeline to Russia since it invaded Ukraine, is already at a record US$240 billion, with China its largest customer for crude oil.

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What are the 14 Chinese items on the US tariff list, and how important are they to China’s exports?

The US announced plans on Tuesday to increase tariffs on 14 categories of products from China under Section 301 of the Trade Act of 1974, covering US$18 billion in imports.

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For China, be it Donald Trump or Joe Biden at the US helm, the barrage of ‘political’ strikes may only intensify

Analysts say Beijing is preparing ‘for all types of situations’ in a trade war with the US that shows no sign of abating after six years, as the leading presidential candidates vow to turn up the heat.

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China’s murky debt collections get new rules: don’t harass, no late-night operations, don’t enter homes uninvited

With household debt at worrisome levels, curbing consumption and China’s economic recovery, Beijing is interjecting in the largely unregulated process with new guidelines for issuing loans and collecting arrears.

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Chinese EV maker Nio pledges to avoid price war to maintain premium aura, even after launching mass-market brand Onvo

Chinese electric vehicle (EV) maker Nio plans to stay on the sidelines amid a bruising price war in the sector, even after it launched a new mass-market brand to target budget-conscious consumers.

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Visa-free China entry approved at all cruise ports, tourists allowed to stay for up to 15 days

The visa-policy easing is expected to boost tourism that has yet to fully rebound since the pandemic, and the move could also give local economies a jolt.

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Climate change: Shanghai’s main gas supplier is building facilities to turn kitchen waste into green methanol to fuel ships

Facilities capable of producing 70,000 to 100,000 tonnes of green methanol from leftover food will be ready by the end of 2025, Shi Pingyang, vice-president of Shenergy, told reporters on Wednesday.

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The man who turned his dead father into a chatbot

The "grief tech" firms helping users create talking avatars of their dead relatives.

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Beijing’s intervention in Chinese markets, including tech, could strangle ‘economic dynamism’, author says

A new book on China’s tech regulations and economic governance assesses the impact of perceived overreaching in the market, with far-reaching effects flagged by professor Angela Zhang.

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US tariffs on China: what’s the real impact, and what could happen next?

Analysts discuss how Beijing could respond to Washington’s latest trade offensive, and how the impact could have repercussions beyond China’s borders.

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China property: Hangzhou, the headquarters of Alibaba and Geely, mulls buying unsold homes to boost market

Authorities in Hangzhou, the capital of China’s Zhejiang province, are planning to buy homes and rent them at affordable rates, to reduce inventory and boost sales.

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Qatar energy minister hails China partnerships on LNG, renewables, supertankers

After his visit to Beijing to sign US$6 billion shipbuilding deal, Saad bin Sherida al-Kaabi reports friendly meetings and good prospects for further cooperation.

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'Corrupt ship inspectors demand our food and cargo'

Seafarers tell the BBC port officials routinely demand bribes before allowing ships through.

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Cow dung's key role in India's energy industry

India is hoping that biogas, produced from farm waste, will curb its reliance on imported gas.

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The post-Brexit hard sell for British food in Asia

The UK still lags far behind its main European counterparts, both in terms of sales and reputation.

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Will AI dream up the hit TV shows of the future?

Television production firms admit they are already using AI to come up with new programme ideas.

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How quantum physics could 'revolutionise everything'

From unhackable communication networks to powerful computers, quantum technology promises huge advances.

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The rise of Sweden's super rich

Why the Nordic nation, despite its reputation for social equality, has so many billionaires.

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'Garden floods show need to work with nature'

Insurance scheme urges gardeners to use planting to protect their homes from floods.

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