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Economics

Los Angeles is burning

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THE SCENES kept getting worse. People abandoned their cars and fled on foot as the flames approached. Firefighters then bulldozed their vehicles to reach the blaze. Workers evacuated patients in wheelchairs from a nursing home. The sky above the Pacific Coast Highway turned orange and thickened with smoke. Palm fronds smouldered. A man walked his horses down the street as embers flew around them. Flames licked up the grounds of the Getty Villa, an art museum. Extreme winds sparked several wildfires across Los Angeles on January 7th. Nine months without measurable rainfall had primed the city to burn.

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Economics

America’s bet on industrial policy starts to pay off for semiconductors

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IN THE FINAL days of Joe Biden’s presidency, most parts of his administration are winding down. Not so the top brass in the Department of Commerce: on an almost daily basis, they are signing giant funding contracts with chipmakers, racing to dole out cash before Donald Trump enters the White House. When all is said and done, they will have awarded nearly $40bn to semiconductor makers in little more than a year—arguably the biggest single bet on industrial policy by the government in decades, and one that could end up as Mr Biden’s most lasting economic legacy.

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Economics

Mike Johnson has his old job back, for now

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But the GOP has the tightest House majority in nearly a century

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Economics

When treating snakebites, American hospitals turn to zoos

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The zookeeper will see you now

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