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  • Astronomers Use the Colours of Trans-Neptunian Objects’ to Track an Ancient Stellar Flyby

    Astronomers Use the Colours of Trans-Neptunian Objects’ to Track an Ancient Stellar Flyby

    Trans-Neptunian Objects (TNO) are some of our Solar System’s lesser-known objects. They number in the thousands, and they get their name from their orbits. These dwarf planets that orbit the Sun at a greater average distance than Neptune does. Pluto is the group’s most well-known member, having been demoted from planet to TNO in recent years.

    TNOs are relics from the early Solar System. They formed in the cold, distant reaches of the protoplanetary disk. Back then, the young Solar System was more chaotic and dynamic, and as the giant planets migrated, gravitational interactions shaped the orbits that TNOs follow.

    As a result, many follow eccentric orbits that are somewhat inclined to the planetary plane. They make up what is called the scattered disk. TNOs also have one other unusual feature: a complex color distribution from grey to red as revealed by surveys like the Outer Solar System Origins Survey (OSSOS) and the Dark Energy Survey. Astronomers think that’s due to the different ices and complex chemicals on their surfaces. Tholins are one of these chemicals, and they’re noteworthy for giving Pluto its reddish hue. (Though Pluto is a TNO, it is not part of the scattered disk.)

    It’s notable that the colour distribution isn’t random and suggests a correlation with their orbits. So a TNOs colour is indicative of where in the protoplanetary disk it formed and its subsequent dynamical interactions with other bodies.

    New research to be published in The Astrophysical Journal Letters suggests that TNOs unusual orbits and colors are the result of a stellar flyby. It’s titled “TNO colours provide new evidence for a past close flyby of another star to the Solar System,” and the lead author is Prof. Dr. Susanne Pfalzner from the Julich Supercomputing Center in Germany.

    “TNOs are remnants of the planets’ formation from a disc of gas and dust, so it is puzzling that they move mostly on eccentric orbits inclined to the planetary plane and show a complex red-to-grey colour distribution,” the paper states. “A close stellar flyby can account for the TNOs’ dynamics but it is unclear if this can also explain the correlation between their colours and orbital characteristics.”

    If a flyby occurred, it was likely very early in the Solar System’s history. “The flyby probably took place during the early phases of the Solar System in the Sun’s birth cluster,” the authors write. “In such clusters, the stellar density is about 1,000 to a million times higher than the local stellar density, and therefore, close flybys are much more common.”

    To find out if a flyby can explain these TNO features, the researchers turned to supercomputer simulations. They simulated a 0.8 solar mass star performing a flyby of a disk modelled with 10,000 and 50,000 particles. Astronomers don’t know how large the Solar System’s disk was, but observations of other disks range from about 100 au to 500 au. “We model the effect of a flyby up to a radius of 150 au,” the authors write. The simulated perturber star reached a periastron distance of 110 au and was inclined by 70 degrees.

    The researchers also used a colour gradient in their simulations to clarify the results. “We assume a colour gradient in the pre-flyby disc and represent it by a rainbow colour spectrum between 30 au and 150 au.”

    One of the things the simulation showed was that a stellar flyby shepherded the TNOs into a spiral arm shape. “The perturber significantly alters their orbits, creating visible spiral arms due to the induced sub- and super-Keplerian velocities,” the researchers explain.

    (a) shows the pre-flyby colour gradient in the simulated disc depicted by a false colour scheme representing very red to blue-grey TNOs. (b) is a snapshot from the simulation 128 years after periastron. The perturbing star entered from the bottom right and has already departed. Disk matter is transported inwards and outwards along the spiral arms, with a fraction of the test particles injected into the planet region. Image Credit: Pfalzner et al. 2025. The Astrophysical Journal Letters

    TNOs are divided into dynamic groups by their orbits and the researchers write that their flyby successfully reproduced these groups, apart from resonant populations that were generated later through interactions with Neptune.

    When it comes to colours, the results were similar to previous research showing that colour and orbital inclination are correlated. The authors explain that “red test particles are mainly found at low inclinations and periastron distances, suggesting that they retain more of their original dynamics.” On the other hand, green to blue particles dominate higher orbital inclinations, where red and orange particles are rare. The red test particles correspond to the very red TNOs, and the other colours represent the shades of grey observed for TNOs.

    This figure shows scatter plots of the TNOs’ inclination as a function of periastron distance.(a) shows observational data from other research for TNO orbital inclinations by periastron distance. (b) shows the simulation results. Image Credit: Pfalzner et al. 2025. The Astrophysical Journal Letters. This figure shows scatter plots of the TNOs’ inclination as a function of periastron distance.(a) shows observational data from other research for TNO orbital inclinations by periastron distance. (b) shows the simulation results. Image Credit: Pfalzner et al. 2025. The Astrophysical Journal Letters.

    The researchers ran the simulation for one billion years, and the simulation showed that the perturber’s effects became negligible by 12,000 years after periastron.

    “After 1 Gyr, the overall structure is similar, with very red objects remaining rare among high-inclination and high-eccentricity TNOs,” the researchers write. They also explain that the colour patterns grow less distinct. Eventually, some red particles are ejected from the Solar System and others are shifted to high inclinations. “The distinct differences in the colour distributions between low- and high-inclination, as well as low- and high-eccentricity TNOs, persist,” they explain.

    This figure shows the long-term evolution of TNO orbits one billion years after periastron. (a) shows the connection between TNO colours and inclinations. (b) shows eccentricities, while (c) and (d) show the corresponding colour distributions. Image Credit: Pfalzner et al. 2025. The Astrophysical Journal Letters This figure shows the long-term evolution of TNO orbits one billion years after periastron. (a) shows the connection between TNO colours and inclinations. (b) shows eccentricities, while (c) and (d) show the corresponding colour distributions. Image Credit: Pfalzner et al. 2025. The Astrophysical Journal Letters

    The effort to understand our Solar System’s Trans-Neptunian Objects and their history will get a boost when the Vera Rubin Observatory begins its ten-year Legacy Survey of Space and Time (LSST). It could increase the number of known TNOs by ten times. That data will lead to a deeper, fuller understanding of the TNO population.

    One way to verify their simulation’s accuracy is to use it to predict what the LSST will find. “In anticipation of this, we try to predict the colours of these soon-detectable TNOs from a flyby perspective,” the authors write. They focus on distant TNOs in this case, since they’re more likely to be spotted by the LSST. They say that if they’re correct, distant TNOs will be predominantly light red to shades of grey, while there will be a notable lack of bright red objects.

    These panels show anticipated results from the LSST. (a) shows inclinations, while (b) shows eccentricities for TNOs with perihelion distances greater than 60 au. Image Credit: Pfalzner et al. 2025. The Astrophysical Journal Letters. These panels show anticipated results from the LSST. (a) shows inclinations, while (b) shows eccentricities for TNOs with perihelion distances greater than 60 au. Image Credit: Pfalzner et al. 2025. The Astrophysical Journal Letters.

    The different colours of TNOs indicate the presence of different chemicals. In some cases, these chemicals have been weathered and altered, but the colours still constitute a strong clue about their origins and allow astronomers to track their evolution. This research shows that a stellar flyby can explain how TNOs have been shepherded into their unusual orbits.

    “Assuming an initial colour gradient in the Sun’s debris disc, we found that the flyby accounts for the observed colour correlations from the OSSOS and DES surveys,” the researchers explain. “This simultaneous explanation of the TNO dynamics and colours significantly strengthens the argument for a stellar flyby largely determining the structure of the Solar System beyond Neptune,” they conclude.

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  • Jennifer Aniston says no to second chances with exes

    Jennifer Aniston says no to second chances with exes

    Jennifer Aniston looking for ‘something real’

    Jennifer Aniston, famously known for her role in Friends, is not open to reuniting with her exes.

    As reported by RadarOnline, the sources have revealed that while Aniston has turned to her close pals Adam Sandler and his wife Jackie to play cupid in her love life, she is not willing to reunite with any of her exes.

    The source said, “There’s no going backward for Jen.”

    “She’s not into second chances with exes, and she doesn’t want to be someone’s trophy girlfriend. She’s after something real,” they added.

    Aniston’s exes includes her ex-husbands Brad Pitt and Justin Theroux, and her famous ex-boyfriends Vince Vaughn and John Mayer.

    Although she told an insider that “I trust Adam and Jackie more than anyone when it comes to this. They know me better than I know myself,” the source revealed that the Friends alum is not rushing to find love.

    “She’s not pressuring Adam and Jackie—there’s no deadline. She’s open to the process and knows it might take time,” the source added.

    They noted, “Jen’s been through a lot, but she still believes in love.”

    “She just needs the right introduction—and that’s exactly what Adam and Jackie hope to give her,” the tipster said.

    It is worth mentioning that this comes amid rumours of the actress dating a hypnotherapist Jim Curtis.

    An insider told People Magazine that Jennifer Aniston and Curtis are dating “but it’s still casual.”


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  • Benefit of Ambroxol on Parkison Disease Dementia Unclear – Docwire News

    Benefit of Ambroxol on Parkison Disease Dementia Unclear – Docwire News

    1. Benefit of Ambroxol on Parkison Disease Dementia Unclear  Docwire News
    2. Randomized Trial Highlights Uncertainties of Ambroxol to Improve Cognition in Parkinson Disease Dementia  NeurologyLive
    3. Cough Medicine May Protect Against Some of Parkinson’s Worst Symptoms  ScienceAlert
    4. Cough Syrup Slows Brain Damage in Parkinson’s Dementia, Study Finds  SciTechDaily
    5. A cough medicine may help slow down cognitive decline in Parkinson’s  Medical News Today

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  • Video shows Palestinians caught in gunfire near GHF aid hub in Gaza

    Video shows Palestinians caught in gunfire near GHF aid hub in Gaza


    LONDON: On Beirut’s congested roads, where traffic crawls and crumbling infrastructure testifies to decades of neglect, a new rhythm is quietly taking shape.


    Sleek, navy-blue buses — equipped with GPS, air conditioning and modern fare systems — now trundle through the city’s chaos, offering a welcome glimpse of efficiency. Whether they can truly deliver long-term impact, however, remains uncertain.



    Cars crowd a road during a traffic jam in Beirut on October 14, 2024. (AFP)


    For decades, Lebanon’s public transportation system has been an informal patchwork dominated by private minibuses and shared taxis. Now, the government is attempting to reassert control through a partnership with a private company aimed at modernizing the daily commute.


    The new fleet operates on 11 routes, primarily across Greater Beirut, but also extending to parts of northern, southern and eastern Lebanon. A private logistics firm, Ahdab Commuting and Trading Co., manages day-to-day operations under a public-private partnership model.


    FASTFACTS


    • France donated 50 of the buses currently in use across Greater Beirut and beyond.


    • A network of private vans and minibuses run fixed routes without schedules or stops.


    • The 2024 Israel-Hezbollah conflict damaged Lebanon’s transport infrastructure.


    While the initiative shows promise, commuters are aware of its limitations.


    “Overall, you’ll mostly notice the impact of public transit inside the major cities, but even there, the system still heavily relies on taxis,” Mohammed Ali Diab, a Beirut-based journalist, told Arab News.



    Beirut’s new buses aim to ease pressure on a public transit system long dominated by private minibuses and shared taxis, left. (Supplied & AFP file)


    “Most taxis operate on a shared-ride basis unless a passenger specifically requests a private ride.”


    Passengers typically say “service” to request a shared taxi, paying a flat fare — usually around 200,000 Lebanese pounds, or $2 — while the driver continues picking up others along the same route.



    Passengers sit in a public transportation bus in Beirut on May 28, 2025. (AFP)


    “In Beirut, there are also vans, but their routes are limited and fixed,” Diab added. “They don’t operate citywide.”


    These vans and buses, he noted, are primarily used by working-class commuters and students, largely due to their affordability.



    We took a risk during a difficult time and invested in a project that’s close to our hearts … We’re hopeful it will succeed, says Aoni Ahdab, CEO, Ahdab Commuting and Trading Co.


    Beyond Beirut, shared taxis and buses connect major cities such as Tripoli, Tyre and Sidon. But in rural and mountainous regions, Diab said, residents still depend on private cars.


    That dependence is becoming increasingly unviable. The World Bank’s Beirut office recently warned that Lebanon’s “reliance on private vehicles is increasingly unsustainable,” particularly amid rising poverty rates and vehicle-operation costs.



    A public bus awaits passengers at a bus stop in Beirut on May 28, 2025. (AFP)


    Lebanon is reeling from one of the world’s worst economic crises since 1850, according to the World Bank. Since 2019, currency collapse and high inflation have wiped out savings, shrunk incomes and pushed millions of people into poverty.


    A 2024 World Bank report revealed that poverty has more than tripled over the past decade, now affecting 44 percent of the population. A separate study by Walid Marrouch, an economics professor at the Lebanese American University, found that at least 60 percent of citizens live below the poverty line.



    A picture taken from Dbayeh north of Beirut on June 7, 2019, shows the skyline of the Lebanese capital covered in smog at sunset. (AFP)


    Against this economic backdrop, the government’s partnership with ACTC represents a promising policy shift.


    In 2023, the company won a competitive bid launched by the Ministry of Public Works to operate the bus system under specific contractual conditions. As part of the deal, ACTC contributes 10 percent of its revenues to the ministry.



    Passengers sit in a public transportation bus in Beirut on May 28, 2025. (AFP)


    Despite the financial risks, ACTC leaders believe in the project’s potential. “We took a risk during a difficult time and invested in a project that’s close to our hearts — one we believe adds real value to the country,” Aoni Ahdab, the ACTC CEO, told Lebanese media. “We’re hopeful it will succeed.”


    The service officially launched in July 2024, despite regional instability and periodic hostilities between Israel and the militant group Hezbollah that temporarily disrupted routes. Israel’s escalation of attacks from September through late November did not halt the project.



    The driver helps a passenger to validate her ticket at a public transportation bus in Beirut on May 28, 2025. (AFP)


    The 2024 conflict caused heavy damage to Lebanon’s transport infrastructure. The World Bank estimates $1 billion is needed for infrastructure sectors, including transport, within an $11 billion national recovery plan.


    Much of the new fleet’s foundation was laid earlier. In 2022, France donated 50 buses to Lebanon, with more expected. Meanwhile, the Railway and Public Transport Authority refurbished 45 vehicles locally, raising the operational fleet to 95 — a modest but tangible effort to ease the transportation burden.



    A public bus drives at a street in Beirut on May 28, 2025. (AFP)


    Although the ACTC contract did not mandate fleet upgrades, the company voluntarily refurbished and standardized the buses, repainting them in navy blue for easy identification and installing safety and tracking technologies.


    To test viability, a pilot phase launched in April. Buses operated from 6 a.m. to 7 p.m. daily to assess travel times, stop durations and operational needs. The goal was to ensure departures every 25 minutes.



    Passengers sit in a public transportation bus in Beirut on May 28, 2025. (AFP)


    Pricing was designed to be accessible. Fares vary by distance: 70,000 Lebanese pounds within Beirut, 100,000 to Baabda, and 150,000 to Tripoli, according to local passengers.


    Riders can purchase single-use tickets or opt for rechargeable cards. For now, those without cards can still pay drivers directly and receive a scannable paper ticket.


    As Beirut confronts long-standing infrastructure challenges, this initiative is viewed as cautious progress. Yet its success will depend on earning public trust and expanding service sustainably.


    Initial data is encouraging. Ziad Nasr, head of Lebanon’s public transport authority, told AFP last month that daily ridership has risen to around 4,500 passengers, up from just a few hundred at launch.


    Authorities hope to expand service further, including routes to Beirut’s airport, but additional buses and international support will be needed.


    However, the rollout has not been smooth. Resistance from private transport operators, who view the initiative as a threat to their livelihoods, has been fierce.


    According to local media, several buses were vandalized and drivers, especially on the Adlieh–Hadath University Campus route, faced threats and harassment toward the end of 2024. The Ministry of Public Works and security forces intervened to keep services running.


    These tensions are symptomatic of deeper, long-standing issues. Lebanon’s public transport sector has suffered for decades from weak oversight, overlapping private interests, chronic underfunding, and lack of strategic planning — all of which have repeatedly hindered reform efforts.


    The roots of dysfunction stretch back to the civil war of 1975–1990, which devastated infrastructure and governance. In the years that followed, a car-dependent culture took hold. Even before the 2019 economic collapse, Lebanon was already struggling with failing power grids, unsafe roads and limited water access.


    Beyond reducing congestion and improving mobility, public transportation could also play a key role in environmental reform — an often overlooked priority in Lebanon. A World Bank climate and development report noted that the transport sector is the country’s second-largest source of greenhouse gas emissions and air pollution, second only to the energy sector.


    Indeed, in cities like Beirut, poor air quality is a growing concern. Frequent traffic jams and widespread use of diesel-powered generators — especially during routine blackouts — have worsened pollution and related health risks.


    On the upside, there are signs of innovation. In Zahle, east of Beirut, four hybrid buses are already operating, Nabil Mneimne of the UN Development Program told AFP in June.


    More progress is expected this year. Lebanon’s first fully electric buses, powered by a solar charging system, are set to launch between Beirut and the northern city of Jbeil.


    A longer-term roadmap for reform has also been laid out. A 2022 World Bank report on improving public transport in Lebanon, Jordan, and Iraq outlined key recommendations. These included unifying bus operators, creating a fund to buy back public licenses, implementing intelligent transport systems, and developing a national road safety strategy.


    The report also urged the government to adopt “quick-win” solutions to improve the user experience — such as reliable schedules, journey-planning apps, real-time tracking, and updated data to enable effective planning.


    Together, these steps could help Lebanon transform its transportation landscape — if the political will and public support can be sustained.



     

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  • Defending champ Badosa pulls out of Washington with lower back injury

    Defending champ Badosa pulls out of Washington with lower back injury

    Defending champion Paula Badosa has withdrawn from next week’s Mubadala Citi DC Open with a lower back injury.

    Writing on X, the world No. 10 clarified that she’s currently struggling with a psoas tear, and will be out of action for “a few weeks.”

    “I’m going through a really tough time,” the world No. 10 wrote. “Sometimes everything feels like a tunnel with no way out … but if I’ve always proven one thing, it’s that I never stop fighting.”

    In a follow-up post, she added, “I want to sincerely thank all the people who are sending me their support, love, and energy during these difficult days. That encouragement sustains me and gives me the strength to keep going, even when everything seems uphill. Thank you for being there.”

    In her absence, Queen’s Club champion Tatjana Maria has moved into the main draw.

    Badosa’s withdrawal comes on the heels of a disappointing showing at Wimbledon, where she was upset by Britain’s Katie Boulter in the first round at the All England Club. 

    This has become an unfortunate trend for the former world No. 2, whose chronic back injury forced her to pull out of Madrid and Miami mid-tournament earlier this year. She was also forced to withdraw from Indian Wells.

    The hope is that the 27-year-old Spaniard will be in form for the upcoming US Open, where she reached the quarterfinals a year ago. She’s also committed to partnering with Stefanos Tsitsipas in the revamped US Open Mixed Doubles Championship at Flushing Meadows, which is scheduled for August 19th and 20th.

    Despite Badosa’s withdrawal, the 500-level event in D.C. — main-draw play kicks off on Monday, July 21 — remains loaded with top talent. World No. 4 Jessica Pegula tops the field, and she’ll be joined by world No. 11 Emma Navarro, world No. 6 Zheng Qinwen, and former Grand Slam champions Emma Raducanu, Elena Rybakina, and Sofia Kenin. Seven-time Grand Slam champion Venus Williams, 45, is also making her highly-anticipated return to action after accepting a main-draw wild card.

     


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  • Blackstone to Invest More Than $25 Billion in Pennsylvania’s Digital and Energy Infrastructure, Plus Catalyze an Additional $60 Billion Investment

    Blackstone to Invest More Than $25 Billion in Pennsylvania’s Digital and Energy Infrastructure, Plus Catalyze an Additional $60 Billion Investment

    • Pennsylvania is uniquely suited to serve as a strategic hub to power America’s AI future
    • Blackstone-backed QTS, the largest independent data center operator in the world, to develop and operate new Pennsylvania data center sites
    • Blackstone has formed a joint venture with PPL to invest in new Pennsylvania natural gas power generation facilities
    • Over 6,000 jobs will be created or supported annually over an estimated 10-year construction timeline

    New York – July 15, 2025 Blackstone (NYSE: BX) announced today that funds managed by Blackstone Infrastructure and Blackstone Real Estate (“Blackstone”) will invest over $25 billion to support the build out of Pennsylvania’s digital and energy infrastructure and help catalyze an additional $60 billion investment into the Commonwealth. This initiative builds on Blackstone’s track record as the leading investor in data centers and power infrastructure.

    Commenting on the announcement, Jon Gray, Blackstone’s President and Chief Operating Officer, said: “We’re thrilled to be investing behind two of our highest conviction themes – digital infrastructure and energy – in a part of the country that is ideally situated to support and expand America’s leading position in the AI revolution. We look forward to working with our partners in government, local communities, and with the people of Pennsylvania to meaningfully invest in the growth of the commonwealth’s digital and energy infrastructure.”

    Sean Klimczak, Blackstone’s Global Head of Infrastructure, said: “Pennsylvania is transforming into a strategic hub for AI innovation, and we’re excited to work with our partners at PPL to invest in the generation needed to support this critical digital infrastructure.”

    Nadeem Meghji, Blackstone’s Global Co-Head of Real Estate, said: “This announcement is reflective of Blackstone’s track record of partnering with governments, local communities and customers to create win-win-win outcomes. As the leading global investor in data centers, we are excited to help advance the nation’s digital infrastructure goals.”

    Investment Highlights

    • Ready to move. Blackstone-backed QTS, the largest independent data center operator in the world, has secured multiple land sites throughout Northeastern Pennsylvania to develop and operate Pennsylvania data center sites and intends to issue a Request for Information to invite other communities to participate in the build out of additional data centers.
    • Strong local partner. Blackstone has also formed a joint venture with PPL, a leading utility headquartered in Allentown, PA, with plans for the joint venture to invest in new natural gas power generation facilities in Pennsylvania to provide electricity for America’s AI and reindustrialized future.
    • Creating local jobs. Over 6,000 jobs will be created or supported annually over an estimated 10-year construction timeline and over 3,000 permanent jobs will be created or supported during operations by QTS and its customers. Blackstone has a long-standing relationship with labor and plans to continue that partnership in Pennsylvania.
    • Abundant low-cost energy. Pennsylvania is uniquely suited to serve as a strategic hub to power the nation’s AI objectives given its abundant low-cost energy that accounts for 20% of the nation’s natural gas production.
    • PA Fast Track. QTS will work with local, county and commonwealth officials to utilize Pennsylvania’s new project management systems (Fast Track) to ensure that all permitting requirements are accomplished at the speed required to meet national priorities in the development and use of AI.
    • Community Partnership. Blackstone aims to invest in alignment with state and community goals, which in Pennsylvania support the build-out of energy and digital infrastructure. Blackstone and QTS intend to engage in a wide range of volunteer opportunities, and community outreach and partnerships across Pennsylvania.

    Tag Greason, Co-CEO of QTS, said: “Pennsylvania is well positioned for data center growth and has become a market where we’re seeing substantial demand from hyperscalers and other customers for high-quality digital infrastructure. We look forward to engaging with communities and leaders across the Commonwealth to position our leading data center platform to support the digital infrastructure needs of Pennsylvania businesses and families.

    Construction is expected to commence by year-end 2028 subject to permitting and utility approvals.

    About Blackstone
    Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s nearly $1.2 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram. 

    Contact
    Paula Chirhart
    Blackstone Infrastructure
    [email protected]
    347-463-5453

    Jeff Kauth
    Blackstone Real Estate
    [email protected]
    212-583-5395


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  • Giant Mesenteric Cyst: Diagnostic Challenges and Surgical Management in a Clinical Case

    Giant Mesenteric Cyst: Diagnostic Challenges and Surgical Management in a Clinical Case


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  • Ed Carpenter Racing to be on the Move with New Facility

    Ed Carpenter Racing to be on the Move with New Facility

    Ed Carpenter Racing has announced plans to relocate its NTT INDYCAR SERIES operation to Westfield, Indiana in time for the 2027 season.

    A new state-of-the-art racing headquarters will be built as part of Westfield’s Grand Park District Master Plan, a blueprint designed to enhance and expand the existing Grand Park Sports Complex. ECR will be the only NTT INDYCAR SERIES team headquartered in Hamilton County.

    ECR’s facility is planned to encompass 76,000 square feet and house advanced engineering and technical development spaces along with retail and fan engagement components. It also will feature a public viewing area into the team’s operations, a merchandise story and a Java House café.

    The project will include construction of the first Westfield-funding parking garage at Grand Park, enhancing access and convenience for visitors.

    ECR fields two cars in the NTT INDYCAR SERIES in this its 14th season. The ownership group is comprised of four Indiana businessmen: Ed Carpenter, Ted Gelov, Tony George and Stuart Reed. Gelov owns Heartland Food Products Group, which is best known for its consumer brands Splenda and Java House Coffee, is also based in Hamilton County.

    ECR’s full-season drivers are Alexander Rossi and Christian Rasmussen. Carpenter competes in the Indianapolis 500 presented by Gainbridge.

    ECR’s plans continue the investments series teams have made in the various communities. Arrow McLaren, Andretti Global, Rahal Letterman Lanigan Racing, AJ Foyt Racing and PREMA Racing have or are building new facilities in the Indianapolis area in recent months.


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  • Royal Bank of Canada completes C$1.25 billion subordinated debt offering | Canada | Global law firm

    Royal Bank of Canada completes C$1.25 billion subordinated debt offering | Canada | Global law firm

    Our Toronto office advised Royal Bank of Canada on a C$1.25 billion offering of non-viability contingent capital (NVCC) subordinated notes through its Canadian medium term notes program.

    The notes bear interest at a fixed rate of 4.214% per annum (paid semi-annually) until July 3, 2030. Thereafter, the notes will bear interest at a floating rate tied to CORRA plus 1.51% (paid quarterly) until July 3, 2035, the maturity date of the notes.

    RBC Dominion Securities Inc. acted as the lead dealer for the offering, with a syndicate that included TD Securities Inc., Desjardins Securities Inc., National Bank Financial Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., iA Private Wealth Inc., Manulife Wealth Inc., Merrill Lynch Canada Inc., Cedar Leaf Capital Inc., Laurentian Bank Securities Inc. and Wells Fargo Securities Canada, Ltd.  

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  • Europe gives Iran deadline to contain nuclear programme or see sanctions reinstated | Iran’s nuclear programme

    Europe gives Iran deadline to contain nuclear programme or see sanctions reinstated | Iran’s nuclear programme

    The EU will start the process of reinstating UN sanctions on Iran from 29 August if Tehran has made no progress by then on containing its nuclear programme, the bloc has announced.

    Speaking at a meeting of his EU counterparts, the French foreign minister, Jean-Noël Barrot, said: “France and its partners are … justified in reapplying global embargos on arms, banks and nuclear equipment that were lifted 10 years ago. Without a firm, tangible and verifiable commitment from Iran, we will do so by the end of August at the latest.”

    Europeans have been largely elbowed aside from the Iranian nuclear issue by Donald Trump, who ordered the bombing of Iran’s nuclear sites last month, and this intervention can be seen as an attempt to reassert Europe’s influence.

    The end of August deadline starts a process that could lead to an armoury of sanctions being reimposed by 15 October, giving European signatories to the 2015 nuclear deal – the UK, France and Germany – a continuing lever in negotiations with Iran. The European powers want to see the return of the UN nuclear inspectorate to Iran, in part to prevent Iran trying to reconfigure its nuclear programme after the damage inflicted by the US strikes in June.

    The way in which the 2015 nuclear deal was negotiated does not allow the other signatories, China or Russia, to veto the sanctions snapback, but the European states can defer the imposition of snapback beyond October to allow time for further consultation.

    The US, after leaving the nuclear deal in 2018, also cannot veto the UK or French move. The sanctions snapback would be triggered under chapter seven of the UN charter, making the reinstatement of six UN resolutions mandatory, including one that requires Iran to suspend all activities related to uranium enrichment and reprocessing, including at the research and development level.

    Another reimposed resolution would require all UN member states to prevent the transfer of any items, materials or technologies that could serve these activities or Iran’s missile programme.

    Iranian sanctions experts claim the reinstated resolutions would not automatically halt all Iranian oil exports, cut off Iran’s access to international financial systems, or cut off general trade communications. But all countries and international financial institutions would have to refrain from providing financial assistance, new commitments or preferential loans to the Iranian government, except for humanitarian and development purposes.

    Abbas Araghchi, the Iranian foreign minister, said recently that the activation of snapback “will mean the end of Europe’s role in the Iranian nuclear issue and may be the darkest point in the history of Iran’s relations with the three European countries, a point that may never be repaired.” He said: “It would mark the end of Europe’s role as a mediator between Iran and the US.”

    He told diplomats at the weekend “One of the big mistakes of the Europeans is that they think that the ‘snapback’ tool in their hands gives them the power to act on the Iranian nuclear issue, while this is a completely wrong perception. If these countries move towards snapback, they will make the resolution of the Iranian nuclear issue even more complicated and difficult.”

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