While the average American worker brought home just over $50,000 in 2023, the combined fortune of the country’s top billionaires soared at a pace impossible to match. To put it in perspective, Oxfam estimates it would take 10 typical workers more than 726,000 years to amass what these billionaires gained in just twelve months.

Rebecca Riddell, senior policy lead for economic and racial justice at Oxfam America, points to the numbers as evidence of a widening wealth gap: “Billionaire wealth has increased astronomically while so many ordinary people struggle to make ends meet,” she stated in the report.

Elon Musk, Zuckerberg and Walmart Heirs Top the List

Oxfam’s research examined the wealth changes of the top 10 on the Forbes Real Time Billionaire List between April 2024 and April 2025. Elon Musk alone accounted for more than half of the group’s total gains, adding $186.1 billion to his net worth. With his fortune continuing to rise, Musk is now seen as the frontrunner in the race to become the world’s first trillionaire.

Meta CEO Mark Zuckerberg and Walmart heir Rob Walton each grew $38.7 billion richer, while legendary investor Warren Buffett saw his fortune swell by $34.8 billion. Jim Walton, another Walmart heir, added $36.5 billion. Not all billionaires gained, however: Google founders Larry Page and Sergey Brin both saw declines in their net worth over the year.

As wealth at the top accelerates, the timing couldn’t be more significant. Republicans are pushing a sweeping new tax bill, which nonpartisan analysts warn could make the rich even richer, while cutting up to $1 trillion from social programs that support the nation’s most vulnerable.

Tax Policy Tensions: Who Really Benefits?

At the heart of the debate is the extension of the 2017 Tax Cuts and Jobs Act, a signature achievement of Donald Trump’s first term. The new bill — dubbed the “One Big Beautiful Bill Act” — would permanently lock in nearly all of the individual tax breaks from 2017 and introduce temporary tax cuts on tips and overtime. On average, it would boost household resources, but not evenly across the board.

According to the Congressional Budget Office (CBO), while overall household resources would rise, the bottom 10% of earners would see a 4% decline by 2033, mainly due to reductions in government assistance. Meanwhile, the top 10% would benefit from a 2% increase in disposable income, with about two-thirds of the bill’s total value flowing to the wealthiest Americans. The Penn Wharton Budget Model further projects that the bottom fifth of households could lose around $1,035 in 2026 as Medicaid, food stamps, and other safety net programs are scaled back.

Business economist Kent Smetters from the University of Pennsylvania estimates that the top 10% of households would pocket $3.1 trillion in tax cuts over a decade. “The US tax system is very progressive,” he notes, with this same group paying roughly 70% of all federal income and payroll taxes. However, critics argue the bill’s benefits are unbalanced and come at a cost to working families.

Democratic Senator Elizabeth Warren has labeled the bill a “giveaway” for the rich. “Donald Trump and Republicans in Congress are trying to jam through massive tax giveaways for the wealthiest Americans — millionaires and billionaires who are only getting richer by the day. Billionaires don’t need another break, working people do,” Warren said in a statement.

Wealth Tax Proposals Face Challenges

Progressives and policy groups like Oxfam are calling for new approaches, such as a wealth tax on ultra-millionaires and billionaires. According to Oxfam’s analysis, a 3% annual tax on fortunes over $1 billion could alone raise $50 billion from just the top 10 richest Americans — enough to provide food assistance to 22.5 million people for a year. Yet, critics highlight the practical and legal challenges of such a tax, noting the complexity of valuing assets and constitutional concerns.

Rising Debt, Downgraded Credit, and Economic Uncertainty

The backdrop for these debates is America’s towering $36 trillion national debt. Moody’s Ratings recently stripped the United States of its perfect credit rating — held since 1917 — citing the unsustainable trajectory of federal borrowing and rising interest payments.

The White House argues that the GOP tax bill will ultimately spur growth and reduce deficits, pointing to President Trump’s first term, during which wealth inequality decreased for the first time in decades. However, independent analysts are skeptical. Moody’s doubts that current proposals will deliver the necessary, sustained spending cuts. The Committee for a Responsible Federal Budget warns that the bill could add as much as $3.3 trillion to the debt over 10 years, or $5.2 trillion if temporary tax breaks are made permanent. The CBO projects an even higher $3.8 trillion increase in debt, raising concerns that the legislation could spark inflation and higher interest rates.

As lawmakers race to finalize the bill, the growing gulf between the ultra-rich and the rest of the country remains at the forefront of America’s economic and political debate.

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Medicaid Cuts: Over 10 Million Could Lose Coverage

The proposal includes a $700 billion reduction in federal Medicaid funding over 10 years. According to the Congressional Budget Office (CBO), this would strip over 10 million people of coverage, with 7.6 million expected to remain uninsured by 2034. While supporters claim some may shift to job-based insurance or Affordable Care Act (ACA) exchanges, many may fall through the cracks due to lost eligibility or administrative barriers.

Key Provisions Include:

• Work Requirements: Adults ages 19–64 would need to work 80 hours a month or meet alternatives like community service, education, or job training. Exceptions would apply to parents, pregnant women, the medically frail, and those with substance-use disorders.
• Start Date: Requirements would take effect in 2029, though conservative lawmakers seek to accelerate implementation.
• Administrative Complexity: Millions could lose benefits not because they’re ineligible, but due to reporting burdens, missed paperwork, or confusion around exemptions.
• Delay in Enrollment Reforms: A Biden-era rule to streamline eligibility would be postponed to 2035, affecting another 2.3 million recipients—including seniors, children, and people with disabilities.

States would be left to absorb shortfalls, likely triggering benefit cuts, enrollment caps, or reduced provider payments. This could cascade into hospital closures or reduced services, particularly in rural or underserved communities.

“We’ve never in history experienced coverage cuts of this size… This isn’t something we’ve seen before.” — Alice Burns, KFF

Food Stamp Reforms: Tighter Rules, Higher Costs for States

The GOP legislation also aims to reshape SNAP through expanded work requirements and increased cost-sharing by states. If passed, as many as 11 million people—including 4 million children—could see benefits reduced or eliminated.

Proposed SNAP Changes:

• Expanded Work Mandates: Currently applied to childless adults 18–54, the new bill raises the age to 64 and includes parents of children aged 7–18.
• Waiver Limits: States could only suspend work rules in counties with unemployment above 10%, significantly restricting flexibility during economic downturns.
• State Cost-Sharing: For the first time, states would cover at least 5% of SNAP benefit costs beginning in 2028—with up to 25% for states with high error rates.
• Administrative Costs: State governments would also shoulder 75% of administrative expenses, up from the current 50%.

Some states may opt to tighten eligibility, reduce benefits, or even exit SNAP altogether—since participation is voluntary. Critics warn that the dual financial and regulatory pressures will lead states to limit access to food aid, especially for vulnerable populations.

“They have more incentive to want to make it harder for people to get food assistance because they’re on the hook to pay for the benefit.” — Ty Jones Cox, CBPP

Broader Economic and Social Consequences

The proposed cuts go beyond individual families and ripple through communities and industries. Hospitals may face increased uncompensated care, leading to closures or higher costs for insured patients. Grocery stores—especially independents in rural or low-income areas—stand to lose significant revenue if food assistance declines.

SNAP currently supports:

• 388,000 jobs nationwide.
• Over $20 billion in wages.
• More than $4.5 billion in tax revenue.

Local economies, particularly in regions already struggling with poverty or unemployment, would likely feel the pinch.

“SNAP dollars circulate directly through local businesses, helping to pay local wages, keep shelves stocked, and support essential services in communities nationwide.” — Stephanie Johnson, National Grocers Association

Uncertain Path Ahead in Congress

Though the House GOP leadership has championed the bill, internal divisions between conservative and moderate factions could stall progress. The Senate is also expected to introduce amendments that could reshape or weaken several provisions. A final version—if it passes—will reflect ongoing negotiations between both chambers and possibly the White House.

Nonetheless, the current House version underscores a dramatic policy shift. If enacted, it would mark a fundamental rollback of health and nutrition assistance that has expanded incrementally for over five decades. And for millions of low-income Americans, the stakes could not be higher.

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The brazen assault comes as Mayor Brugada, a prominent figure in the Morena party and the nation’s second most powerful politician after President Claudia Sheinbaum, faces increasing security challenges. According to the city’s Attorney General’s Office, the two officials were traveling in a vehicle that was intercepted and attacked in broad daylight between Calzada de Tlalpan and Napoleón Street.

Authorities are currently reviewing security footage that circulated widely on social media and appears to show the attack. In the video, a man approaches a parked car and enters, while another man, wearing a helmet, stands in the street and opens fire at close range. The assailant then flees on foot, leaving the scene in chaos.

The Mexico City Attorney General’s Office and the Secretariat of Citizen Security confirmed that at least four suspects have been identified as allegedly involved in orchestrating the attack. Prosecutor Bertha Alcalde Luján told reporters that the operation was highly planned and executed by individuals with prior experience. She emphasized that all possible motives are under investigation, and nothing has been ruled out at this stage.

Investigators have seized a motorcycle found near the crime scene, along with a vehicle in the Iztacalco district, both believed to be linked to the crime. The ongoing probe has gripped the city as residents and officials alike demand answers and justice.

Mayor Brugada expressed deep sorrow over the loss, calling Guzmán “a wonderful, kind woman” and Muñoz “one of the most intelligent people I’ve ever known.” President Sheinbaum offered condolences to the families of both victims, vowing full support for the investigation and promising that the case will not go unresolved. “We will get to the bottom of this situation and ensure justice is served,” Sheinbaum stated during her Tuesday press conference.

Both Guzmán and Muñoz were longtime members of the Morena movement, and their deaths have sent shockwaves through the political community.

Political Violence Surges Across Mexico

This latest incident highlights a troubling trend of violence against public officials in Mexico. According to the human rights group Data Cívica, 2023 saw a record 661 attacks targeting politicians or government facilities, most frequently involving those holding or seeking municipal office.

Mayoral candidates and officeholders have been killed in a string of recent attacks: in May 2024, a candidate was fatally shot during a campaign event in Guerrero state, an incident captured on video. Just days later, the mayor of Cotija, Michoacán, was murdered while returning home with her bodyguard. In October, Guerrero’s capital city of Chilpancingo lost its mayor to assassination less than a week after taking office. And earlier this month, a candidate in Veracruz was killed with three others during a live campaign rally broadcast.

The scale and frequency of these violent acts underscore the ongoing security crisis in Mexican politics, particularly at the local level. Authorities in Mexico City have pledged to pursue all leads and bring those responsible for Tuesday’s attack to justice.

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Estupinan, a university student from the city of Cucuta near Colombia’s northeastern border with Venezuela, was shot and killed in her own home on May 15. According to Magda Victoria Acosta, president of the National Gender Commission of the Colombian Judiciary, the suspected attacker disguised himself as a delivery driver before shooting Estupinan as she opened her door.

“She was a young, ambitious woman with her whole life ahead of her, but her dreams—like those of so many women in this country—have been cruelly ended,” Acosta told reporters. She added that Estupinan had previously been the victim of domestic violence and was about to receive compensation for her case. The Gender Commission condemned the crime and pledged to push for justice.

Estupinan’s vibrant life was documented on her Facebook page, with images of her travels to New York and California and moments at the pool or gym. Police are reviewing surveillance video from outside her home, which reportedly shows a man fleeing the scene at the time of the murder.

Colonel William Quintero, chief of Cucuta’s Metropolitan Police, confirmed that the suspect had made previous threats against Estupinan and was the subject of formal complaints. “We are taking all urgent actions to determine exactly what happened and to ensure those responsible are brought to justice,” Quintero told local media.

The murder quickly became a national headline, drawing comparisons to the recent killing of Mexican beauty influencer Valeria Marquez, who was shot during a live-streamed event at a salon. Authorities in Jalisco, Mexico, are treating Marquez’s case as a suspected femicide, though no theory has been ruled out.

Femicide, defined as the gender-based killing of women or girls, remains a serious and under-reported problem in the region. In Mexico, one in four killings of women in 2020 was classified as femicide, according to Amnesty International. In Colombia, Acosta said that violence against women is widespread and takes many forms, from sexual assault to psychological abuse and abandonment. Survivors often face obstacles in seeking help, and perpetrators frequently go unpunished.

The National Gender Commission has documented thousands of cases of gender-based violence, with particularly high numbers of missing women and girls. Between January and August last year, 41 women were reported missing in Colombia, with 34 of those cases occurring in Cucuta alone. Many of the victims were minors.

The region’s volatility is further exacerbated by ongoing conflict. Northeast Colombia has recently seen escalating violence between armed groups, causing mass displacement—tens of thousands of people were forced to flee the Catatumbo region earlier this year, many seeking refuge in Cucuta. The Colombian government has since deployed thousands of soldiers and special forces to the area.

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Canadians headed to the polls on Monday for an election overshadowed by tariffs, economic uncertainty, and annexation threats from the United States.

Voters will decide whether to grant interim Prime Minister Mark Carney a full four-year mandate or give the Conservative Party a turn at the wheel after more than nine years of Liberal Party government.

Canadians began casting their ballots in the country’s easternmost province, Newfoundland and Labrador, at 8:30 a.m. local time (7 a.m. ET) Monday.

Election Shadowed by US Tensions

Canada’s uneasy relationship with the US has deeply influenced the tenor of this year’s campaign. US President Donald Trump’s tariffs against Canadian exports pose a grave threat to the country’s economy, and his threats to absorb Canada as “the 51st state” have enraged Canadians of every political persuasion.

“I reject any attempts to weaken Canada, to wear us down, to break us so that America can own us,” Carney told reporters in late March. “We are masters in our own home.”

The Main Contenders: Carney vs. Poilievre

Though Canadians have a diverse array of parties to choose from on their federal ballots, the main contest is between the incumbent Liberals, led by Carney since March, and the Conservative opposition, led by longtime parliamentarian Pierre Poilievre.

Carney became prime minister in March after his predecessor Justin Trudeau resigned from office in the wake of dire polls that suggested a stunning loss to come in a federal election.

A political newcomer and former governor of both the Bank of Canada and Bank of England, Carney assumed the premiership just as Trump began to apply numerous tariffs on Canadian goods.

Carney’s Defiant Stance

The new prime minister took a defiant stance toward Washington, continuing Trudeau’s reciprocal tariffs against the US. As the trade war and annexation threats accelerated from Washington, the Liberals saw their polling numbers drastically reverse, quickly closing the gap with their Conservative rivals.

Carney has pitched himself as an experienced professional from the political center who can steward Canada’s economy through a period of profound economic turbulence.

“I understand how the world works,” Carney told podcaster Nate Erskine-Smith in October. “I know people who run some of the world’s largest companies and understand how they work. I know how financial institutions work. I know how markets work…I’m trying to apply that to the benefit of Canada.”

Carney has pledged to “build things in this country again” to make Canada less reliant on the US: new homes, new factories, and new sources of “clean and conventional energy.”

“My solemn promise is to stand up for Canadian workers, to stand up for Canadian businesses,” Carney said in March. “We will stand up for our history, our values and our sovereignty.”

Poilievre’s “Canada First” Campaign

Meanwhile, Conservative leader Poilievre has cast the election as a battle between everyday Canadians and the “Ottawa elites” who have run the country for the past nine years.

“The same people who ran Justin Trudeau are now running Mark Carney,” Poilievre told supporters shortly after Carney became prime minister. “Liberals are trying to trick Canadians into electing them for a fourth term in power.”

Running on a platform to put “Canada first,” Poilievre wants to slash government funding, streamline the country’s bureaucracy, and strip away environmental laws to further exploit the country’s vast natural riches.

“Conservatives will axe taxes, build homes, fix the budget,” Poilievre said in March, pledging to “unleash our economic independence by building pipelines, mines, [liquefied natural gas] plants and other economic infrastructure that will allow us to sell to ourselves and the rest of the world.”

Record Number of Early Voters

In the days leading up to the election, a record number of Canadians voted early, with long lines at polling places.

“I voted on the first day of advance polls and I waited 45 minutes,” said Kristina Ennis of St. John’s, Newfoundland. “I know people who waited over an hour.”

Elections Canada said in an April 22 news release that at least 7.3 million voters chose to cast their ballots before election day, a 25% increase from the 2021 federal election.

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A Break from the Status Quo

Following an emergency cabinet meeting in Ottawa addressing the latest US tariff threats, Carney spoke candidly about the need to rethink Canada’s decades-long reliance on its southern neighbor. His comments marked a pivotal shift in tone just weeks into his premiership.

“The US is no longer a reliable partner”

“We have entered a new phase,” Carney said. “The United States has signaled a departure from mutual trust. While we remain open to constructive dialogue, we cannot expect a return to the old paradigm.”

Carney added that his government would be laying the groundwork for closer cooperation with other global allies, singling out France and the United Kingdom as long-standing partners. His upcoming visits to both countries are aimed at exploring new avenues for trade and diplomatic alignment.

Tariffs Spark Urgency

The growing urgency comes in response to US President Donald Trump’s announcement of a 25% tariff on all imported cars and automotive components. The decision has provoked international backlash, with Carney describing it as a “direct assault” on North American economic cooperation and a clear breach of the US-Mexico-Canada Agreement (USMCA).

“If these tariffs become permanent,” Carney stated, “it will necessitate a complete reevaluation of our security and trade ties with Washington.”

Canada Readies a Counter Strategy

While stopping short of disclosing details, Carney emphasized that Canada would unveil its full response once the US outlines further actions on April 2.

Five Industries in Focus

According to Carney, the Canadian government has identified five sectors targeted by the US:

• Automotive manufacturing
• Forestry and lumber
• Steel and aluminum
• Semiconductors
• Pharmaceuticals

“We’re not going to play whack-a-mole with individual tariffs,” he noted. “Instead, we’re crafting a comprehensive and proportional response.”

The prime minister also confirmed that Trump had reached out for a call, which is expected in the coming days. Though Carney has no immediate plans to visit Washington, members of his cabinet may engage with US counterparts.

Domestic Preparedness and Global Pivot

Carney reassured Canadians that the government is taking steps to shield workers and industries from economic fallout. He emphasized the importance of diversification and reiterated the federal government’s commitment to supporting local manufacturing and innovation.

“There is no silver bullet”

“This will not be quick or easy,” Carney said, warning that the path ahead may be difficult but necessary. “But we are not powerless. We are sovereign. We are masters in our own home.”

In coordination with Mexico, which has also promised a response after April 2, Canada is preparing for a long-haul shift in continental trade relations.

“We will not be bullied. We will act decisively and with purpose to protect Canadian interests,” Carney declared.

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Medical Advice Leads to Schedule Change

Though the King’s hospital visit was brief, his medical team has advised caution. As a result, the palace announced that Friday’s scheduled engagements — including four events planned in Birmingham — will be postponed.

Diplomatic Plans Disrupted

On Thursday, Charles had been expected to receive ambassadors from three different countries. Those formal meetings were also cancelled in light of his condition. In a statement, Buckingham Palace expressed the King’s “sincere apologies” to those affected, acknowledging any inconvenience or disappointment caused by the last-minute changes.

Background on the King’s Health

King Charles publicly revealed his cancer diagnosis in February 2024, just weeks after undergoing a routine procedure to treat a benign enlarged prostate. Though the specific type of cancer has not been disclosed, the King stepped back from public-facing duties following the announcement.

Return to Duty in April

After several months of treatment, the King resumed limited engagements in April. His return was marked by a visit to a cancer treatment center, where he shared his experience and offered empathy to patients and healthcare staff alike.

“Such kind thoughts are the greatest comfort and encouragement,” the King said at the time, recalling how the outpouring of public support had moved him to tears.

Looking Ahead

While the rescheduling of royal duties may spark concern among the public, palace officials emphasize that the current measures are precautionary. There is no indication that the King’s condition has worsened — only that his treatment may occasionally require unexpected adjustments.

As Britain’s head of state continues to navigate his health journey, it is clear that the responsibilities of monarchy will be shaped, at least for the moment, by medical realities. Support for the King remains strong, with thousands of well-wishers continuing to send messages of encouragement from across the Commonwealth and beyond.

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Washington’s Visit: Celebration or Symbol?

According to the White House, Usha Vance — wife of Vice President JD Vance — will travel to Greenland this week to attend the Avannaata Qimussersu, the island’s national dogsled race. The trip is being framed as a cultural celebration, with the U.S. delegation expected to visit historic sites and engage with local traditions. National security adviser Mike Waltz is also slated to join the delegation — a move that has drawn particularly harsh scrutiny from Greenlandic leaders.

Greenland’s Leadership Voices Alarm

Speaking to the Greenlandic outlet Sermitsiaq, Prime Minister Egede questioned the purpose behind the visit. “What is the national security adviser doing in Greenland? The only purpose is to demonstrate power over us,” he said. Egede expressed concern that Waltz’s presence would only reinforce Trump’s campaign to annex the territory — a goal the U.S. president has stated openly on several occasions.

Despite Egede’s concerns, Trump maintains that the U.S. was invited. “They’re calling us. We’re not calling them,” he told reporters. “We’re dealing with a lot of people from Greenland that would like to see something happen with respect to them being properly protected and properly taken care of.”

The Politics Behind the Polar Push

While the dogsled race may be festive, the geopolitical backdrop is anything but lighthearted. Trump’s long-expressed desire to absorb Greenland into the United States — whether through negotiation or force — has elevated tensions between Washington, Copenhagen, and Nuuk. As Arctic resources become increasingly valuable and the region more strategically important, global powers like the U.S., Russia, and China have stepped up their interest in the icy frontier.

A Sovereignty Under Pressure

Greenland’s government has made it clear that any move toward annexation is unwelcome. Egede, a longtime proponent of Greenlandic independence from Denmark, described Washington’s outreach as “bouncing off” his country’s diplomatic efforts. The recent parliamentary elections saw Egede’s party defeated, but he remains in power until a new coalition is formed. Jens-Frederik Nielsen, the likely next prime minister, echoed Egede’s concerns.

“The Americans are well aware that our political situation is still in flux,” Nielsen told Sermitsiaq. “Coming here during this transition shows a lack of respect for Greenland’s democratic process and the will of our people.”

Denmark’s Delicate Balancing Act

Greenland’s autonomy has steadily expanded since 1953, though Denmark retains control over foreign affairs, defense, and monetary policy. The island’s strategic location, coupled with its rare earth mineral reserves, makes it a prime target for foreign influence. Danish Prime Minister Mette Frederiksen responded cautiously to the U.S. visit, stating that while cooperation with the U.S. is welcome, it must be grounded in respect for “the fundamental rules of sovereignty.”

Behind the Scenes of the “Cultural Visit”

The White House emphasized that Vance’s trip was cultural in nature — a family-friendly event designed to honor Greenlandic heritage. But questions linger over the composition of the delegation and the inclusion of high-level security officials. No records suggest that any U.S. delegation has previously attended the dogsled race, making this sudden show of interest difficult to interpret as benign.

• Usha Vance will attend the national dogsled race with her son and U.S. officials.
• National security adviser Mike Waltz’s presence has raised concerns in Greenland.
• The trip occurs during a delicate political transition within Greenland’s government.

Public Opinion: Firmly Against Annexation

Greenlanders have consistently voiced opposition to the idea of becoming part of the United States. A January poll commissioned by Danish and Greenlandic newspapers found that 85% of the population opposed annexation, with nearly half viewing Trump’s interest in the island as an outright threat.

Despite this, Trump remains undeterred. “I think we’re going to get it one way or the other,” he said during a recent address to Congress, reaffirming his ambition to bring Greenland into the American fold.

The Trump Family’s Role in the Narrative

Donald Trump Jr. added fuel to the fire during his own visit to Greenland earlier this year. On social media, he praised the territory and its potential future under U.S. stewardship. “Greenland is an incredible place,” he wrote. “We will protect it, and cherish it, from a very vicious outside world. Make Greenland Great Again!”

The Road Ahead for Greenland

Greenland stands at a crossroads — a remote but strategically vital land caught between superpowers, while striving to assert its own voice. As pressure mounts from Washington, Greenland’s leadership will need to navigate not just diplomacy, but a broader struggle for self-determination in a world where sovereignty is often seen as negotiable.

For now, the dogsled race goes on — but the stakes have never felt higher.

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