9/30/2012

Argentine president answers Harvard crowd’s questions


 By Associated Press

BOSTON — In a rare departure from her usual political style, Argentine President Cristina Fernandez responded to questions from an audience at Harvard University Thursday night. But she didn’t always answer them.
 Fernandez spoke before more than 100 students, faculty and guests at the Kennedy School of Government. In Argentina, she has had five news conferences in five years and has only occasionally taken questions.
Fernandez said the criticism that she doesn’t speak to the press is unfounded.
“I don’t know where this comes from that I don’t talk, that I can’t speak, that I’m mute,” she said in Spanish which was translated into English.
One student, who is from Argentina, asked Fernandez about Argentines’ limited access to foreign capital when they want to travel abroad and increased taxes on credit and debit card purchases made outside the country or online.
“You are here and you are Argentine, so obviously you don’t have dollar problems,” Fernandez told the student. “You are lucky enough to study in Harvard. You think you can really talk about these currency problems?”
To another student, who asked if it was time for Fernandez to be more self-critical because of her country’s escalating crime and what some say is its inflation problem, she said she expected different questions from her Ivy League audience.
Capital flight and wary investors have plagued Fernandez’s second term, despite her attempts to use currency controls, taxes on the wealthy and programs for the poor to combat what some analysts have labeled the economy’s impending downward economic spiral.
Moody’s Investor Service Thursday downgraded 30 Argentine banks to “negative” ratings, down from “stable.”
The International Monetary Fund has given Argentina until Dec. 17 to publish accurate inflation statistics, questioning the reported monthly inflation of below 1 percent.
Fernandez succeeded her husband, Nestor Kirchner, as president of Argentina in 2007. He died three years later.

from The Washington Post




Please read the following actual comments written by The Washington Post readers and then rank them taking into account clarity and accuracy. 

If you spot any mistakes, please correct them.

Max A Secas
9/29/2012 6:21 PM GMT-0300
The worst part about this government is they are succeeding in convincing people that we must ask permission to the government to exert freedoms that are already granted in our Constitution. Today the government says you are free to buy dollars (or chemotherapy drugs, for that matter) because, if you stand on your knees and ask reaaaaally nice, they might consider authorizing you to do so.

"It is true that liberty is precious so precious that it must be rationed" - Vladimir Lenin.

Andrea JORDAN
9/29/2012 12:28 PM GMT-0300
Im from Argentina and Im ashamed as how my President behaved and teat to the students in your country.
I apologize to the United States of America for the shame that causes me Cristina Fernandez s attitude.
Now in Argentina there is no freedom all kinds of freedom.
Not expression freedom.
You cant buy dollars, you cant send dollar to any part of the world to a family member although is needed, only allow 270 dollars per month and must be an immediate family member.
There is high inflation, they persecute the people who thinks different.
There was a cacerolazo (meaning a crowd of people against our government in the streets) and only in one channel was showing what happens. When something happens that they doesnt like in television they freeze the screen so that we cant see it. In many provinces there are opposing programs that are not visible.
Cristina Fernandez never gives press conference. She use national dialy to discuss things she wants to show (lies) in prime time about an hour.
She doest like the debate, just talk to hear herself. Not interested in the needs of our country.
Guillermo Moreno Secretary of Industry has several complaints of abuse people and power abuse but always fall their causes in the same judge who is friend of the government. Abuse defense people to consumers because they gave real inflation numbers and run them off the debate with his security people.
Thousands or Argentines want freedom, honesty, education, safety and union. But the only thing that makes this government is mistreating, those who are against, not listen to proposals.
They pay people, with our money,with low income so that they go to the demostrations that the government proposes.
There are many allegations of corruption but nobody is accused because this justice is friend of the government.
The President Cristina Fernandez lies about everything that happens in our country.
I am ashamed by her attitude and apologize again to the United States of America.
I didnt voted neigther Cristina Fernandez nor his husband and dont want this government.
But we cant do anything cause there is not opossite.
Please help us to be a wonderful country like yours.
Andrea

tamino12
9/29/2012 12:39 AM GMT-0300
It's a disgrace to hear our president babble in the usual way she and her cronies do in our country. Bullying, direct confrontation, brutal force and denying blatant facts are their only way of communicating. Neither she nor her late husband ever gave a real press conference and she constantly lambasts the media for publishing the facts the government tries to conceal. I am currently spending twice as much on my supermarket weekly shopping as last year. Is that inflation for you or what? To make matters worse, the incredibly miopic government import controls are depriving our people of essential goods, such as parts for car and electronic goods and health-care and hospital supplies, ranging form plastic gloves to pacemakers. I can't have my CD player fixed because of a small device that is banned form customs. We've never gone through anything like this before!



Times are getting tougher for Cristina Fernández







EVERY Argentine politician knows that clanging pots and pans are the sound of trouble. In 2001, after the government froze bank accounts, furious residents of Buenos Aires staged nightly cacerolazos (pot bangings) until the president resigned. On September 13th it was the turn of Cristina Fernández de Kirchner, the current president, to face the raucous music. Tens of thousands filled the capital’s streets wielding kitchen implements. Ms Fernández was in San Juan, a provincial capital, which saw a smaller protest.

Her aides dismissed the protesters as an unpatriotic elite. “They’re more concerned about what happens in Miami than in San Juan,” said Juan Manuel Abal Medina, the cabinet chief. Ms Fernández has weathered cacerolazos before. In 2008 farmers staged pot-clanking demonstrations after she tried to raise taxes on soyabean exports. She was re-elected three years later.

But the latest cacerolazo looks more like a turning point than a stumble. The main reason is that the economy has run out of steam. Between 2003 and 2011, Argentina’s annual average growth rate of 7.7% was Latin America’s second-highest. This year, even by the questionable official numbers, it is set to be the lowest (see chart).

Distortions have been building for years under Ms Fernández and her late husband and predecessor, Néstor Kirchner. Price caps have squelched investment in energy and led the treasury to subsidise fuel imports. Public spending has soared, yielding a primary fiscal deficit of 3% of GDP. Thanks to the Kirchners’ quarrel with the IMF, Argentina can only raise external credit at steep interest rates. So the Central Bank has printed pesos. Inflation is around 25% according to unofficial estimates. 

Until now, the economy has grown despite these policies, mainly because of high prices for its farm products, and exports to Brazil. But this year drought parched soyabean fields, and Brazil stalled. In addition $18 billion of debt and other payments came due that Argentina could not refinance. Desperate for hard currency, the government imposed curbs on imports and foreign-exchange transactions. It scared investors further by expropriating a majority stake in YPF, the national oil company, held by Spain’s Repsol. All this turned a soft landing into a screeching halt.

A second problem for the president is that she has alienated large chunks of her amorphous Peronist movement. Mr Kirchner dealt deftly with its barons, mayors and unions, who can rally crowds to the streets and voters to the polls. Since being widowed in 2010, Ms Fernández has sidelined many of her husband’s allies, relying instead on a group of youngish leftist activists led by her son, Máximo.

This year’s cash crunch has brought conflict with the Peronist machine. Workers have seen their take-home pay drop in real terms. Hugo Moyano, the head of Argentina’s biggest trade-union confederation, has turned against Ms Fernández, accusing her of acting like “a goddess…who has to be knelt before”.

The squeeze has also hit local governments. Ms Fernández has cut the share in total public spending of discretional transfers to provinces and municipalities by half in the past two years. In June she delayed a transfer of $250m to Buenos Aires province, leaving it unable to pay its staff. Her dealings with its Peronist governor, Daniel Scioli, remain tense. José Manuel de la Sota, the Peronist governor of Córdoba, now consorts with the opposition.

Ms Fernández has also alienated the middle class, some of whom rallied to her last year. That is potentially dangerous. “You can’t win an election here without the middle class,” says Joaquín Morales Solá, a columnist for La Nación, an opposition newspaper. “Very few people say they’re poor. They’re culturally middle class. They have the same aspirations.”

It is sections of the middle class who are now banging their pots. They are disappointed by declining public services and public safety. In a recent survey by Carolina Moreno of the Catholic University, 31% of respondents said they had been victims of a crime, up from 22% in 2004. A commuter train crash in February that killed 51 people highlighted the government’s neglect of the transport network.

Controls on access to dollars and negative real interest rates make it hard for the middle class to travel or save. They are offended by the president’s use of the tax agency to persecute opponents, and annoyed by the frequent interruptions of television shows to broadcast her speeches, such as one opening a technology fair.

Ms Fernández’s fortunes will probably improve before a legislative election due in October 2013. The prospect of a better harvest, a rebound in Brazil and an easier debt-repayment schedule all mean she should be able to relax the economic squeeze and buy back the loyalty of wavering Peronist operators. Moreover, the opposition is fragmented and bereft of leaders.

Yet Ms Fernández will need more than a modest rebound if she is to prolong her grip on power. She has no heir-apparent: her vice-president, Amado Boudou, has been hamstrung by corruption accusations, and her son has never run for office. Some of her allies have suggested changing the constitution so that she can run for a third consecutive term, though she has not discussed the idea publicly. A constitutional amendment requires a two-thirds vote of both houses of Congress, which looks difficult to attain. And since polls suggest that the public opposes the idea, her opponents are sure to use the spectre of a third term when campaigning next year. But Ms Fernández has beaten the odds before. And no one can question her hunger for power

from The Economist 

 


Highlights in American presidential debates (video)





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9/24/2012

Apple Supplier Halts Production After Violence in Chinese Factory




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Which of the following ideas are NOT mentioned in the video you have just watched?


Foxconn, the company that makes Apple's iPhones, has suspended production at a factory in northern China after a brawl that involved as many as 2,000 workers and left about 40 people injured.

The clash erupted late Sunday in a privately-managed dormitory for Foxconn employees who work at the company's factory in Taiyuan. 

China's Xinhua news agency says 5,000 police officers were dispatched to the dormitory and about 4 hours later they brought the chaos under control early Monday.

Photographs of the incident that were posted to social networks but later deleted showed smashed windows and riot police, and crowds of workers.

Foxconn says the incident appears to have started as a personal dispute and does not appear to be work related.

A staff member at the Taiyuan plant said he was told the plant could be closed up to two to three days while police investigate.

The Taiyuan plant employs 79,000 workers and manufactures automobile electronic components, consumer electronic components, and precision moldings. It is an important supplier for companies including Apple, Hewlett-Packard and Microsoft.

Foxconn, owned by Taiwan's Hon Hai, is the world's largest contract maker of electronic goods and employs about one million workers in factories across China. 

The company has faced scrutiny over complaints about its wages and working conditions.


 

 

 How about completing the following sentences?

1 -  Although 5,000 police officers were dispatched to the dormitory ………….......................

2 - Photographs of the incident were posted to social networks. However ………………….........

3 - In spite of the fact that Foxconn said the trouble started with a personal fight , some people said   …………………………...

4 - The plant was closed Monday. Anyway ………………..............   



Please ask questions so as to get the following answers



1. Apple's iPhones
2. 2,000 workers
3. at a dormitory
4. Monday
5. A personal fight
6. In Taiyuan
7. 4 hours
8. No, it's not the first incident
9. Poor working conditions and workers mistreatment
10. 1 million
11. I don't know
12. Perhaps












179th Oktoberfest (video)



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Thirsty work

How long does it take to afford a beer?

ON SEPTEMBER 22nd, the beer started flowing at Oktoberfest in Munich, an annual Bavarian beer festival which confusingly begins at the end of September. Last year, over the course of the 16-day event, visitors drank 7.5m litres of beer, sold at an average  price of €9 ($12.50) a litre.

Germans love beer and down around 100 litres per person a year. Away from the Oktoberfest beer is readily affordable. Analysts at UBS, a Swiss bank, have calculated that it takes a German earning the national median wage just under seven minutes of work to purchase half a litre of beer at a retail outlet.

At the bottom of the pint glass, low wages and high taxes mean that boozers in India must toil for nearly an hour before they have earned enough to quench their thirst.






adapted from The Economist

New iPhone hits stores across the globe (video)







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Monet's garden flowers in NY (video)



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9/17/2012

UK royals sue over topless Kate's photo (video)




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Britain's royals sue magazine

 Catherine, Duchess of Cambridge and Prince William, Duke of Cambridge during their visit to Singapore Botanical Gardens on Tuesday. (Photo: Getty Images)


 Please read the article and choose the correct option


The Brits are in the middle of  (another - other) scandal involving a semi-nude royal: After (to issue - issuing)  a strong condemnation, the royal family will (suit - sue) a French magazine for publishing photos of a topless Duchess of Cambridge.

The Duchess, if you're not a royal watcher, is Kate Middleton, Prince William's wife and the future queen of England.

The celebrity gossip magazine Closer published 12 pictures of Kate while she was vacationing in the south of France. Thing is, that those pictures were taken when Kate "slipped off her bikini top, relaxed on a sun lounger and at one point pulled down the back of her bikini bottoms while William rubbed sun cream on her lower back."

    "'St James's Palace confirms that legal ( procedure - proceedings) for (breach - break) of privacy have been commenced today in France by the Duke and Duchess of Cambridge (against  - again) the publishers of Closer Magazine France,' the couple's office said in a statement.

    "Under the headline 'Oh my God!', the photos show the couple, (which - whose) natural conduct  (for - since) their April wedding has won them fans worldwide, soaking up the sun on the balcony of a 19th century hunting lodge, oblivious to paparazzi."

This scandal (come - comes) just weeks after the American website TMZ.com published pictures of Prince Harry in buff during a Las Vegas party.

ITV News spoke to the editor of the French magazine ( which - who) downplayed the photographs.

"These pictures show nothing  (shocked - shocking)," Laurence Pieau said. "They show a young woman sunbathing topless, as millions do on the beaches."

(Although - However) the palace was not very happy. The Royal Family called the publishing of the images a "grotesque" abuse of privacy. "It likened the case to the hounding of William's mother, the late Princess Diana, by paparazzi before her untimely death in 1997".

9/16/2012

'Adopt-a-guy' boutique (video)




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Caesars Palace new buffet (audio)






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Spain's public education (audio)






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9/14/2012

Anti-Islam film and rioting in the Middle East (video)







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9/10/2012

St Petersburg, Russia's cultural capital







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Nokia, Microsoft launch new phones (video)

 

 


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The 6-peso diet and The Economist

SIX Argentine pesos ($1.30 at the official exchange rate, or about $1 on the black market) is just enough to buy an alfajor, a sweet biscuit nibbled between meals over coffee. But according to the government, it is more than sufficient to buy an entire day’s food. On August 10th INDEC, the national statistics agency, declared that a family of four should be considered above the poverty line if its monthly food bill exceeded 688 pesos, equal to about six pesos per person per day.

The claim has stuck in the throats of ordinary Argentines, who have to spend far more than this to keep hunger at bay thanks to galloping inflation. Indignant citizens created mock advertisements featuring pizzas the size of finger nails. Hackers disabled the INDEC website, tweeting: “Now you’ll have to use your six little pesos to restore your page :)”.

Experts also doubt the government’s claim. A study by the University of Buenos Aires puts the minimum daily budget for a healthy diet at 24 pesos per person, four times the official figure. “It is totally impossible to eat healthily with six pesos,” says Sergio Britos, one of the study’s authors. INDEC’s report “loses all credibility” by supposing unrealistically low food-prices, he says.

It is not the first time that official reports have played down the cost of living. Since 2007 the government has published bogus inflation statistics to beguile voters and investors. In February, with independent estimates running more than twice as high as official ones, The Economist stopped publishing INDEC’s inflation figures.

The gap between official pronouncements and reality is not lost on the public. Margarita Barrientos, the founder of a soup kitchen in one of Buenos Aires’ poorest barrios, spends about six pesos per person for a single meal, and calls INDEC’s statement “insulting”. “What can you do? The government will always give the figures that suit its needs,” she shrugs. A beggar in one of the city’s trendier neighbourhoods laughs heartily when asked if she could feed her family for six pesos each. “If that were true, I would be rich,” she says.

From The Economist     

Techint, Cristina and Financial Times

  It’s rare to see an Argentine business leader openly criticise a government with a reputation for bearing grudges.

But Paolo Rocca, CEO of steel giant Techint, did just that this week, slamming what he saw as Argentina’s declining competitiveness and criticising the government for having “lost its way”. The government’s response was swift, and sharp.

Cristina Fernández, the president, said Rocca would do well to remember that his company benefits from a charmed existence: subsidies and anti-dumping meaures on the one hand, and a near-monopoly position on the other.

Axel Kicillof, the high-profile deputy economy minister whose leftist ideology is in the ascendant and whose influence goes well beyond his title, later added that the government ought to sink Techint, but wouldn’t.

Surely this is not the kind of threat an administration bent on boosting economic growth should be issuing to a local captian of industry, especially one so key: Tenaris, one of the Techint group companies, is the world’s biggest maker of seamless steel pipes for the energy industry, for example, with a heavy weighting on the local Merval stock exchange. Not unsurprisingly, the market didn’t take to all this too well: shares in Siderar, another Tenaris company and Argentina’s leading steelmaker, slid on Friday afternoon.

But Rocca’s point is an interesting one. He says wages in his sector, at $24 per hour, far exceed those in Mexico ($12) and Brazil ($9); that there are energy bottlenecks; and investment is low, factors that add up to severe limitations to economic progress in the short-term. His arguments were all loudly refuted by Fernández, who preaches a mantra of social inclusion in which companies have a social duty to reinvest to foster growth and to earn “reasonable” profits.

Is her method for tackling it working? No, according to the World Economic Forum. Argentina’s competitiveness has sunk 10 places in a year according to its latest Global Competitiveness Report, with inflation, policy instability, corruption and foreign exchange restrictions cited as the most problematic factors for doing business.

Business leaders may be worried about the official cheap-dollar policy. But put up and shut up seems to be the government line.








from Financial Times - beyondbrics





Airport TV war



(Reuters) - CNN is suffering from lower ratings and increased competition in the cable television market and will soon face a new challenge in an area it has dominated for two decades: airports.

Clear Channel Outdoor Holdings is unveiling "ClearVision,", a new TV product that will hang in airport gates and will display news, sports and other programs. It will compete with Time Warner Inc's CNN for viewers waiting for flights around the country.

Toby Sturek, Clear Channel's head of airports, said the company is in discussions with about 20 airports including some large ones where CNN has its TVs.

The first airport ClearVision will enter in November is Raleigh-Durham International in North Carolina, where CNN does not have a presence.

"The airports want something that's different and they want something where they can have a variety of content that they can provide the passengers," Sturek said.

CNN's screens can be seen in 49 of the busiest U.S. airports, including Chicago O'Hare and Dallas/Fort Worth. CNN reaches 248 million customers every year in airports.

Airport advertising is not as big a business as cable TV. However, it makes more than $10 million a year for CNN, according to a source familiar with the situation. Any setback will hurt the reach of CNN, which has lagged in the ratings behind News Corp's Fox News and Comcast Corp's MSNBC.

CNN is searching for a new president since its longtime chief Jim Walton will depart by the end of the year.

Clear Channel will initially roll out in mid-sized airports. To try to win over customers, ClearVision will offer shows ranging from comedies and live sports to CNBC's morning business updates.

Clear Channel will let travelers connect their mobile devices wirelessly to the TV sets starting in the first quarter of next year, so travelers can watch the airport programs on their own screens while they are waiting.

Additionally, travelers will be able to select from different channels.

"So, one traveler can watch news while a person sitting next to them can watch America's Got Talent," Sturek said.






 From Reuters (adapted)      

9/09/2012

Doing business in Hong Kong (audio)





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9/03/2012

Dallas fight against West Nile Fever


 



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 IN 1999 crows in New York started dying in unusual numbers. But it took weeks of further clues, including the deaths of two flamingos at the Bronx Zoo, for officials to find the culprit. The West Nile virus had invaded New York. It was the first time the virus had been recorded in the Western hemisphere. Since then, West Nile has reappeared each summer. As of August 29th cases were up 40% from a week earlier, reaching 1,590, with 66 deaths.

Mosquitoes contract the virus when they bite infected birds. Then, with their typical generosity, they give the virus to humans. Eighty per cent show no symptoms. The rest may get a fever, nausea or a rash. About one in 150, however, will develop a serious illness, such as inflammation of the brain.

This year’s outbreak is notable for its scale. Nearly half of the cases have been in Texas. The winter was mild, the spring and summer hot. Throughout the year, it has rained intermittently—in short, ideal conditions for mosquitoes.

The centre of the outbreak is Dallas. By August 15th county leaders had reported some 200 West Nile infections and ten deaths. The mayor declared a state of emergency and authorized aerial spraying—the first time Dallas has done so since 1969, according to the Dallas Morning News. Health officials started distributing larvicide and bug repellent, and scouting for standing water.

West Nile is not the only developing-country disease that has seeped into America. Since 2001 three states have seen outbreaks of dengue fever. The Centres for Disease Control and Prevention (CDC) estimate that 300,000 people in the United States, overwhelmingly immigrants, are infected with Chagas disease, caught from parasites that are usually found in Central and South America. Worryingly, the CDC found higher rates among those who are poor and black.

A study of Houston observed that West Nile was more common among the homeless. In general, mosquitoes find the poor inviting hosts, explains Peter Hotez of the Baylor College of Medicine. They often live near potholed roads, with standing water, and are less likely to have insect spray and window screens.

By August 29th the number of documented West Nile infections in Dallas had reached 309, and the deaths had crept to 13. In better news, the Dallas city council announced that it had set out five mosquito traps, and that none of the insects it caught carried the virus. If the outbreak is abating, though, it is too soon to be complacent. It will not be the last.


adapted from The Economist

9/02/2012

Nigeria will introduce coins and a new bill


ABUJA — Early next year Nigeria will introduce coins to the economy and a 5,000 Naira bill, worth just over $30 dollars

Although government officials say the move will save the country millions of dollars; some analysts argue the larger bills will increase corruption. 

Modern countries need coins, says Ugo Okoroafor, Director of Corporate Communications of the Central Bank of Nigeria.

“Let’s not look at Nigeria now. We must revamp our currency to keep up with the times. We are moving into a society where there will be vending machines as well as parking meters. The rail lines are coming back to life. These are areas where coins are very important.  The new 5,000 Naira bill will mean fewer bills in circulation, saving Nigeria millions of dollars a year in transport, storage and management of cash. Currently the highest currency denomination is 1,000 Naira". 

But not everyone agrees. Some critics say the 5,000 Naira note will increase inflation and encourage corruption and money laundering. Cash will literally be moved five times faster, making it easier to steal or hide large quantities. 

Clement Nwankwo, the executive director of the Policy and Legal Advocacy Center in Abuja, says “I think it’s a very bad idea. If you want to promote a cashless economy, you can't create currencies of higher denominations.”

Other analysts say the new currency will not alter inflation or promote corruption, pointing out that big-time swindles in Nigeria are carried out in dollars, not Naira.



 Please ask questions so as to get the following answers:


1. Early next year Nigeria
2. Coins and a 5,000 Naira bill
3. Corruption
4. Director of Corporate Communications of the Central Bank of Nigeria.
5. To keep up with the times
6. Millions of dollars a year in transport, storage and management of cash
7. Because it will increase inflation and encourage corruption & money laundering
8. Yes, it will be easier to steal or hide large quantities
9. No, it won't alter inflation or promote corruption
10. Perhaps



adapted from VOA

One word for Obama, one word for Romney (video)

The Washington Post polled attendees of the 2012 Republican National Convention on the one word that came to mind when they thought of Mitt Romney and President Obama. 
 
Please watch the video and make two lists, trying to take down as many words as possible.
 

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