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tv   World Business Report  BBC News  February 1, 2022 5:30am-6:01am GMT

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this is bbc news with the latest business headlines for viewers in the uk and around the world. spotify continues to be in the spotlight. the unit —— the lunar new year begins. as covid weighs on celebrations — we discuss if this is a sign of what's ahead in 2022 india presented this budget is the country continues its recovery from 20 —— covid—i9. and looking at keeping the curtains raised even amid covid restrictions.
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welcome to the programme. after a brutal month, there were rallies on wall street narrowly avoiding they were starting 2022. the nasdaq had its best one—day gain in almost a year but it still closed out january down almost 9%. spotify shares closed higher while despite the controversy over its popular podcast. it has come under pressure that the mounting criticism that the music platform is allowing joe rogan to spread misinformation on vaccines and covid—i9. it has prompted joni mitchell and neil young asking for their music to be removed from the platform. spotify said it is working to
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add advisory warnings to any podcast discussing covid—i9 but could exist say that it is not enough. bringing in the managing director of three cm unlimited. thank you for joining us on the programme. firstly, joe also apologised and spotify ceo also spoke out the dv they have done enough? if you look at what is coming from the music community and artist community following the announcement, i would say most ofjoe rogan and spotify�*s critics amongst the artist and music community are not placated by what was said on sunday evening. they are still being critical. for example, they are saying, well, what you are saying is what you choose and twitter and facebook is saying —— you tube. thejoe rogan podcast is... there are
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still a lot of critics. i do that possibly it will push back the controversy for a few weeks to give spotify the opportunity to give spotify the opportunity to try and placate the big—name artist �*s one—on—one. figs to try and placate the big-name artist 's one-on-one._ artist 's one-on-one. as you say spotify _ artist 's one-on-one. as you say spotify is _ artist 's one-on-one. as you say spotify is hardly - artist 's one-on-one. as you say spotify is hardly alone i artist 's one-on-one. as you | say spotify is hardly alone on coming under pressure about misinformation but how different is spotify�*s controversy compared to others like facebook and google because as i understand spotify relies on subscribers, there is no add revenues and so on. spotify�*s business model is a little bit different from those other social media platforms. spotify does have... it is important to the upside of business. spotify makes the big part of its revenue by selling subscriptions. firstly although spotify has been pushing into podcasting aggressively for a number of years and thejoe rogan deals a big part of that.
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many of those premium subscribers, the majority, people who are paying to subscribe, what they are paying for is the music. despite the podcast prioritisation in recent years. it does also mean that if there is a bit of a controversy that has been building in the last couple of weeks there is a risky start to see a significant number of subscribers cancelling. whether or not that is a really significant number, probably not, but it will put some fear at the business and investors in the business, are we going to see people starting to end their subscription and stop putting money in because of the controversy that has surrounded the business.— the business. and speaking of those artist, _ the business. and speaking of those artist, how— the business. and speaking of those artist, how dependent l the business. and speaking of| those artist, how dependent is spotify on them. can even bigger celebrities possibly pulled their music out? how eas it pulled their music out? how easy it is — pulled their music out? how easy it is for _ pulled their music out? how easy it is for anyone - pulled their music out? how easy it is for anyone artist i pulled their music out? how| easy it is for anyone artist to pull their music depends on various different factors. usually there is a record label
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sitting between an artist and spotify and to what extent and artist can just pull their content ultimately depends on their deal with the label. neil young who began all of this, he said in a post on his website he didn't have the right to unilaterally remove his music from spotify, he needed his label to support him in this, which they did. there is that complication in terms of whether artists can pull. bigger name artists, spotify is an important revenue stream for them and their labels today and an important way of reaching fans and i think some artists will be a little bit nervous of, do i want to get involved in this? joe rogan is a popular podcast. are therejoe rogan fans amongst my fan base? it is the big—name debris artists, if they were to stop the content that would ramp up the controversy further. thank you forjoining _ controversy further. thank you forjoining us— controversy further. thank you forjoining us in _ controversy further. thank you forjoining us in the _ forjoining us in the programme. we will have more on
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spotify earnings and other tech earnings later in the programme. in welcome austria is introducing compulsory vaccinations on tuesday, making it the first european country to require jabs by law. penalties for rule—breakers has been pushed back until mid—march but is likely to see unvaccinated adults fined up to 3600 euros £2,994. so far, 72% of austrians have been fully vaccinated against the virus. this is seen as a litmus test for economies and businesses across europe as other nations consider similar measures. joining me now is christian schulz who's an economist. thank you forjoining us. the austrian government is hoping this will allow them to open the economy but at the same time the country has seen regular protest since the announcement so is this move good for the economy and businesses?—
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good for the economy and businesses? , , ., businesses? many people would an ue it businesses? many people would argue it comes _ businesses? many people would argue it comes a _ businesses? many people would argue it comes a bit _ businesses? many people would argue it comes a bit late - businesses? many people would argue it comes a bit late at - argue it comes a bit late at least for the current 0micron wave. we have had experiences in the past for instance with the delta wave in israel where it seemed that big vaccination campaign can even resolve the current wave but with 0micron and how transmissible it is it seems unlikely that the big vaccination campaign or a mandatory vaccination campaign would end the current wave stop it is more about future waves that the austrian population is ready for future waves, that we will not see a need for lockdowns again because people won't go to hospital and also i think very importantly that we can shorten warranting times and therefore key people in the workforce and prevent all this disruption we are seeing all over supply chains at the moment. over supply chains at the moment-— over supply chains at the moment. , . ., moment. germany and other eumpean _ moment. germany and other european countries - moment. germany and other european countries are - moment. germany and other european countries are also. european countries are also considering. do you think other countries will adopt similar measures? i countries will adopt similar measures?— countries will adopt similar measures? ~ ., ., measures? i think at the moment it looks quite _ measures? i think at the moment it looks quite unlikely _ measures? i think at the moment it looks quite unlikely that - measures? i think at the moment it looks quite unlikely that we - it looks quite unlikely that we will see lots of countries following austria's lead. when
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austria did this it was in the middle of a big wave and had one of the lowest vaccination rates in western europe. 0ne one of the lowest vaccination rates in western europe. one of the effects of the announcement was that lots of people got the vaccination before it was actually introduced and so i think from today's perspective, austria probably wouldn't introduce this, just had to follow through on a similar phenomenon in germany, when it was announced lots of people got the job and now that they really have implemented they find lots of practical difficulties and we may actually not see it in the end. how are companies and businesses dealing with this? from their perspective of course anything that ends the lockdowns and quarantines is going to be a good thing. at the same time, where we have sector wise mandatory vaccinations, for instance for the health sector, many businesses in the sector, private hospitals, for instance, find it difficult to implement this, as they do with all sorts of measures such as
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keeping people without vaccinations out of shops or workplaces and so on so it poses a big burden of bureaucracy sometimes on them evenin bureaucracy sometimes on them even in the business sector i think there is a lot of, you know, scepticism towards mandatory vaccinations case for joining us. mandatory vaccinations case for joining us-_ joining us. vaccinated travellers _ joining us. vaccinated travellers can - joining us. vaccinated travellers can once i joining us. vaccinated i travellers can once again travellers can once again travel to thailand. the government is expected to hundred and 300,000 visitors to re—enter the country on the revamped programme. they will have to undergo two easier tests on the first and fifth day after arriving and showed proof of bookings at designated hotels on the specific dates. a significant boost to the tourism the country depends on. it has been a year since myanmar�*s military as did the
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democratically elected government and the us, uk and canada have all imposed new sanctions. before the coup they also came from asia and those companies have also been caught up companies have also been caught up in this tricky ad tricky situation. next, where are we when it comes to nothing from asia one year on?— asia one year on? this is not the first sanctions _ asia one year on? this is not the first sanctions against. asia one year on? this is not| the first sanctions against key babies officials. this time the uk, us and canada have gone out of the us supreme court �*s new chiefjustice, the heads of the anticorruption commission, the uk has also targeted new heads the election campaign as well. this is all highly involved in the arrest and conviction, most would say political persecution of the former civilians to make
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the civilian elected leader aung san suu kyi. it also targeted others close to the military and the ideas do try to hurt the burmese general�*s economy as much as possible. we know it has suffered massively since the coup and several western countries have been pulling out. we have seen chevron, elinore, the big norwegian telecom occasions company. they say the business environment is too much for them to handle. pulling out, as we know, is not the simple solution that it seems. we know that foreign investment creates jobs and it can help the lives of ordinary burmese people as well and there are also those that make the argument that pulling outjust leaves a pulling out just leaves a bigger slice pulling outjust leaves a bigger slice of economic pie military and that is an argument that has been made by the opponents of the junta as well stop that —— we have to wait and see what effect it has on the country. it is a dilemma. we don't want to abandon the bernese people but
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you don't want to do business there and risk deferring legitimacy to the military government or worse, help keep it afloat economically.— it afloat economically. thank ou for it afloat economically. thank you for the — it afloat economically. thank you for the update. - it afloat economically. thank you for the update. stay - it afloat economically. thankj you for the update. stay with us on bbc news. still to come. it is a big week for tech. will the tech giants be the winner from the pandemic and continue their run of good luck? this is the moment that millions in iran have been waiting for. after his long years in exile, the first hesitant steps of ayatollah khomeini on iranian soil. south africa's white government has offered its black opponents concessions unparalleled in the history of apartheid, and the anc leader nelson mandela is to be set free unconditionally. mission control: three, two, one... a countdown to a critical moment — the world's
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most powerful rocket ignited all 27 of its engines at once. and apart from its power, it's this recycling of the rocket, slashing the cost of a launch, that makes this a breakthrough in the business of space travel. two americans have become the first humans to walk in space without any lifeline to their spaceship. one of them called it "a piece of cake". thousands of people have given l the yachtswoman ellen macarthur a spectacular homecoming - in the cornish port of falmouth after she smashed the world record . for sailing solo _ around the world, non—stop. this is bbc news — the latest headlines: a lacklustre lunar new year �*s celebrations this year as covid weighs on china's economy. we take a look at how a theatre
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production company its lights on during the pandemic. it is another week of tech earnings. the sector has been among the biggest winners from the pandemic. but those companies now face challenges as supply chain problems persist and many countries are facing a cost of living crisis. here's or north america technology reporter, james clayton. google and facebook have very similar revenue streams completely dependent on advertising so when you report you get a flavour of the digital economy. £12 you get a flavour of the digital economy. you get a flavour of the diiital econom . , ., digital economy. 42 they are -- for meta. _ digital economy. 42 they are -- for meta, remember _ digital economy. 42 they are -- for meta, remember there - digital economy. 42 they are -- for meta, remember there was| for meta, remember there was $10 billion to create this metaverse last year. i'm sure that will have affected prophets and it will be interesting to see more about that. apple also released this new ad tracking feature last year and that was supposed to hurt facebook. it was going to prevent advertisers tracking you around the internet, keyto facebook�*s business model. we will probably hear more about
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that. before google we haven't had a successful month —— they haven't had a successful month. we will hear lots about google ads but also youtube. these two companies have had a really successful pandemic and so this is really the moment where we work out whether that continued all the way through 2021 or whether it started to tail off. joining me now is gervais williams, head of equities at premier miton. thank you forjoining us. despite the rally overnight the tech heavy nasdaq had a pretty brutaljanuary and yet when you see all of these earnings coming out of the tech giants they seem to be doing still really well. what are you expecting from meta as well as alphabet? what we have seen is the sell—off in their equities, and the technology equities actually finish the year at the beginning of last week. we saw
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recovery at the end of last week and into the beginning of this week. so what you see when you look at alphabet is a company looking at their full year figures, company looking at their full yearfigures, and we have a business year where actually all 50 of the 51 analysts are actually recommending to buyout the moment. find actually recommending to buyout the moment-— actually recommending to buyout the moment. and we keep talking about the supply _ the moment. and we keep talking about the supply chain _ the moment. and we keep talking about the supply chain issues, - about the supply chain issues, and yet apple reporting last week didn't seem to have been affected by it. is that still a challenge for those tech giants? challenge for those tech iiants? , ., , ., challenge for those tech iiants? , ., ., giants? yes, many of the social media companies _ giants? yes, many of the social media companies or _ giants? yes, many of the social media companies or those - giants? yes, many of the social. media companies or those online businesses are less affected by the supply chain problems, so from that point of view they are able to sustain growth. on top of that we have quite a lot of inflationary pressures coming through wage inflation in particular is coming through, will be very interesting to see the reporter:. interesting to see the reporter: .- interesting to see the reporter:. �* ., ., reporter:. and what about the re . ulato reporter:. and what about the regulatory clampdown _ reporter:. and what about the regulatory clampdown by - reporter:. and what about the regulatory clampdown by the - regulatory clampdown by the government, is that still a big issue for those tech giants? i mean, these companies are very substantial american right. when you take alphabet it is a $1.8 trillion company, even meta is actually nearly $1
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trillion. so they are both very substantial businesses, substantial businesses, substantial market positions and in that regard they really sorted of outclassed their competition. and the regulators are interested into whether they actually have trust issues and whether they need to break these up through the courts. and we keep talking about the metaverse being the hottest thing, is that your view? it is attracting — thing, is that your view? it is attracting substantial- attracting substantial interest, so from that point of view it is continuing to thrive. there has been a company with substantial upgrades over the last few months, so that has been the key issue. i think going forward what we will see as inflationary pressures becoming more consistent, interest rates will go up and wage pressure will go up and wage pressure will go up and wage pressure will go up, and i think that will go up, and i think that will favour some of the traditional companies like we saw injanuary. traditional companies like we saw in january.— saw in january. thank you for “oinini saw in january. thank you for joining us _ saw in january. thank you for joining us on _ saw in january. thank you for joining us on the _ saw in january. thank you for joining us on the programme| joining us on the programme today. that show you how wall street did, because as the nasdaq made a bit of a comeback, up more than 3%, and
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also the dowjones and smp not doing too badly on the last day of january after that brutal month. here in asia we have a lot of the markets closed because of the lunar new year, but the nick hayes taking their cue from wall street, —— nikkei is pretty flat. india's finance minister nirmala sitharaman has just presented the union budget. it comes at a time when the economy is struggling to keep the recovery going due to the third wave of covid—19. but with impending elections in key states the focus ——what is the focus of the budget? joining me now is archana shukla, india business correspondent. talk us through what has been announced so far. the talk us through what has been announced so far.— talk us through what has been announced so far. the budget is the second _
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announced so far. the budget is the second paperless _ announced so far. the budget is the second paperless budget... | the second paperless budget... the first few minutes have highlighted what was the biggest ask, increasing expenditure on infrastructure, and the infrastructure push is the major key takeaway from the first few minutes, with investment being lined up to investment being lined up to invest in everything from railways to highways. she has also spoken aboutjobs, made a mention over there that the expansion in the infrastructure projects and construction could lead to some of the jobs being created. actually started reading out her presentation, she did mention the presentation would lay out a roadmap for the next 25 years of the country, and that would be billed with an inclusive growth ready government focus is to look at the macro futuristic growth but also something that is inclusive for all sections of society. so big infrastructure push is the biggest key takeaway from the few minutes. thank you so much for that update.
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lunar new year is under way, —— lunar new year is under way. asia has started to celebrate the lunar new year with more low key celebrations than usual, due to further coronavirus outbreaks and strict lockdowns in china. optimism around the regions increasing vaccination rates is raising hopes that the year of the tiger will see life return to normal, but with the omicron variant continuing to disrupt production in industrial hubs, factory output and supply chains remain challenging. we arejoined now we are joined now by we arejoined now byjinny we are joined now byjinny yan. with the winter olympics starting, it is unlikely beijing will stop its approach? it is unlikely the restrictions will be lifted, but also it is chinese new year, it is a time when the mobility of china across different regions is at its maximum peak. so obviously the key is to minimise the disruption on the longer term
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basis, of course, even without the winter olympics, but yes, this year the obviously, the upcoming winter olympics has put a lot of strain on further expectations that restrictions will be stricter, even than have been so if it wasn't the case. but certainly the economy has been slowing, even before this, the covid cases of course are slightly more than previously, but i think even in any standard, on a global context, the cases are still relatively low.— context, the cases are still relatively low. thank you so much for — relatively low. thank you so much forjoining _ relatively low. thank you so much forjoining us, - relatively low. thank you so much forjoining us, and - relatively low. thank you so i much forjoining us, and happy lunar new year to you. omicron and the possibility of new variants have forced many businesses to go digital to stay open over the past two years. technology helped for the most part, but one sector that found it hard to go digital is theatre, because of the difficulty in recreating the drama & experience of stage plays online.
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but one production company in singapore found a way to put itself back in the spotlight. i know you have the gift of communication... it is strange, i have done so many more things than i would have on a regular non— co— video. it isjust have on a regular non— co— video. it is just now getting to understand what the audience wants, how does the whole
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economy work? the technology —— tectonic plates have completely shifted, and it is changing. you cannot use the methods of yesterday to compete in the economies of tomorrow. and i think as artists, as business owners, as entrepreneurs, we need to be adaptable to change, because that is the only constant. a performance online is very quick, and very fast. i turn up five seconds before, i click on the link, i am there. i can then click and exit immediately, within seconds. from here basically you also have this interactive elements,
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with the animations coming in, so there is the animated fire, or the postprocessing effects as well, and you have imagery which allows you to take a real—world image item and allows you to turn it into a 3d model. ., ., ., ., , model. now all of a sudden we are able to _ model. now all of a sudden we are able to reach _ model. now all of a sudden we are able to reach the _ model. now all of a sudden we are able to reach the world, i are able to reach the world, and — are able to reach the world, and that_ are able to reach the world, and that is important to me because _ and that is important to me because then we can make the ticket — because then we can make the ticket price a little more affordable. i ticket price a little more affordable.— ticket price a little more affordable. , . affordable. i will say, i am fairly confident, _ affordable. i will say, i am fairly confident, live - affordable. iwill say, i am. fairly confident, live theatre will never _ fairly confident, live theatre will never die. _ fairly confident, live theatre will never die. the - fairly confident, live theatre will never die. the whole i fairly confident, live theatre i will never die. the whole world is shifting. _ will never die. the whole world is shifting, and _ will never die. the whole world is shifting, and as _ will never die. the whole world is shifting, and as artists - will never die. the whole world is shifting, and as artists i- is shifting, and as artists i think_ is shifting, and as artists i think what— is shifting, and as artists i think what we _ is shifting, and as artists i think what we are - is shifting, and as artists i think what we are looking| is shifting, and as artists i. think what we are looking to is shifting, and as artists i- think what we are looking to do is to— think what we are looking to do is to find — think what we are looking to do is to find what _ think what we are looking to do is to find what people - think what we are looking to do is to find what people need. - is to find what people need. because _ is to find what people need. because art— is to find what people need. because art does _ is to find what people need. because art does reflect - is to find what people need. because art does reflect life and at — because art does reflect life and at this— because art does reflect life and at this point _ because art does reflect life and at this point i— because art does reflect life and at this point i think- because art does reflect lifel and at this point i think there is a _ and at this point i think there is a lot— and at this point i think there is a lot of— and at this point i think there is a lot of healing _ and at this point i think there is a lot of healing that - and at this point i think there is a lot of healing that needs| is a lot of healing that needs to he — is a lot of healing that needs to he done _ what a nice creative way to keep going during the pandemic. with that we end this edition of the programme, but happy lunar new year to all of you
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celebrating gong xi fa cai as we say here in singapore. sally will be back with all the latest headlines at the top of the hour, thanks for watching. hello. the week got off to a stormy start thanks to corrie. the winds have become a little lighter out there now, but for the rest of the week, it will still stay relatively windy, not perhaps as windy, though, as it was due monday. here's corrie come tuesday, menacing down in the middle of the mediterranean. but another area of the pressure to the north of the uk will keep it windy here, particularly across scotland. but this weather front sinking south won't bring much in the way of rain. it will usher in quite a bit of cloud and perhaps most noticeably, it will pull in some very mild air, particularly in contrast to monday. sunshine probably most widespread, actually, for scotland and northern england. further south, rather more overcast skies, some patchy light rain or drizzle, but gusts of wind across northernmost scotland could still hit up to 80mph. but what a difference
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in those temperatures for tuesday afternoon, 12 or 13 degrees, it willjust feel so much milder. and the milder air sticks around as we work our way into wednesday as well. further cloud flooding in from the west. our clearest skies likely to the far north—east of the uk, but because the air itself is mild, i think we will stay frost free, even though temperatures slide down into the range of single figures. and there's this big dome, if you like, of mild air sitting across the uk for wednesday. high pressure to the south, quite a lot of cloud, hopefully some breaks perhaps to the east of the brecons across the north—east of england and for eastern scotland. but despite the cloud, it will still feel considerably warmer than it has done to start the week, again, temperatures in double figures. quite a contrast then to come for the end of the week. thursday, we've got a weather front set to work its way south. some heavy rain initially for scotland and northern ireland, then the front pushing down into england and wales come the afternoon. looks like it could eventually
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bring some rain, something we haven't seen much of in a while, into southernmost england overnight, but the keen eyed amongst you will have noticed the white coming in behind that rain band, much colder airflooding in for friday, another quite deep low to the north of the uk. it's looking windy, it should be bright with a lot of sunshine, but there's the chance that we could see some fairly frequent wintry showers pushing into scotland, i think maybe a few sliding south into northern england as well. and feeling so much colder again by friday. temperatures just 5 to 9 degrees.
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good morning, welcome to breakfast with dan walker and sally nugent. our headlines today. a prime minister under pressure — borisjohnson tries to rally support among his mps, after a report into downing street parties criticises a failure of leadership. many of his colleagues are furious with him _ many of his colleagues are furious with him but of the prime minister continues— with him but of the prime minister continues in office. he has pledged to change _ continues in office. he has pledged to change how his office here works, but first, _ to change how his office here works, but first, he — to change how his office here works, but first, he is heading to ukraine to deal— but first, he is heading to ukraine to deal with potential war with russia — the rate of take up of the mmr vaccine is the lowest for a decade — there's a warning it could lead to an outbreak of measles. as royal mail launches stamps with
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bar codes so they can track and

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