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Although still an extremely high number, roughly killing as many Americans per year as diabetes, the overdose crisis is set to kill fewer than 100,000 Americans this year for the first time since 2020.

Prof David Maguire, the vice chancellor, says “difficult decisions” have led to a 20% reduction in the number of courses, increased lecture group sizes, less one-to-one contact between academics and students, and fewer staff in student support including in mental health and counselling.

International recruitment has also fallen, with overall visa applications down by about 16% this year, and 20% fewer applications from India alone.

The outlook has worsened for universities because they have recruited fewer UK and international students than predicted.

In apparent response to the GOP wins, small-cap stocks, along with financial and traditional energy sectors — including oil, gas and coal — performed particularly well following the election and may continue to benefit from anticipated new policies, such as corporate tax cuts, reduced regulatory oversight for financial institutions and fewer environmental restrictions on fossil fuel production.