Fintech PR
Infosys and The Financial Times Unveil the ‘FT Money Machine’ Through Immersive Extended Reality Experience
A digital twin of the landmark economic simulator ‘The Moniac’, the FT Money Machine leverages Apple Vision Pro to deliver an immersive and interactive experience making economics education more effective and accessible
LONDON, Sept. 6, 2024 /PRNewswire/ — Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, in collaboration with the Financial Times (FT), today announced the digital revival of a pioneering piece of economic history — the Monetary National Income Analogue Computer (MONIAC) — courtesy of a groundbreaking new virtual reality experience, the ‘FT Money Machine’.
Infosys and The Financial Times have taken economist Bill Phillips’ original invention, a hydraulic analog computer created in 1949 that used water to model and study economic systems, as the foundation for a unique Extended Reality (XR) project which revolutionizes how we learn about economics and ensures education at scale. Emphasizing on ‘learning by doing’, the new XR app, accessible through Apple Vision Pro and available in the App Store, faithfully recreates the Moniac’s functionality while adding new, interactive features. This approach bridges the gap between historical analogue computing and modern digital learning, offering an unparalleled educational experience to the global student community.
Users of The FT Money Machine will not only experience the full operation of The Moniac but also can explore and create their own economic scenarios in free play mode. They will be able to interact with the machine using intuitive gestures such as eye tracking, hand movements, and voice commands, allowing them to adjust variables like consumption, taxation, and investment to see real-time impacts on the economy, as well as understand complex economic interactions, predict outcomes of various policy decisions, and enhance economic modelling techniques.
The FT Money Machine also incorporates the academic backing of the London School of Economics (LSE) and Cambridge University, home to one of the last working original Moniacs. It leverages the creative design and build expertise from WongDoody, Infosys’ human experience agency, where WongDoody helped ensure that the FT Money Machine app exceeds user expectations in a seamless blend of historical significance and cutting-edge technology.
James Lamont, Director of Strategic Partnerships at the Financial Times, added, “The FT has always been committed to fostering a deeper understanding of economics, and the FT Money Machine is a testament to that commitment. Our purpose combined with Infosys’ strong technical expertise has helped not only revive an important piece of economic history but also will also redefine how we teach and learn about economics in a digital age.”
Ashiss Kumar Dash, EVP and Global Head – Sustainability, Services, Utilities, Resources and Energy, Infosys, emphasized, “At Infosys, we are committed to our purpose of leveraging technology to amplify human potential and create the next opportunity for people, businesses, and communities. Our collaboration with FT for this innovative project that bridges historical innovation with today’s most advanced digital technologies to deliver education at scale aligns perfectly with our purpose. By recreating the Moniac as the FT Money Machine, we are providing users with a unique educational tool that makes the complexities of economic systems both accessible and engaging, enabling the exploration and understanding of how money flows through an economy.”
The FT Money Machine’s three-dimensional interface will offer a comprehensive educational tool for students, educators, researchers, and economic enthusiasts, providing a hands-on learning experience that illustrates economic principles in a way that is both engaging and insightful. By embracing new immersive technologies, it will help transcend the limitations of traditional educational tools, making economic education more effective and accessible.
As part of the launch, Infosys and the Financial Times will host an event at London School of Economics (LSE) on September 18 to celebrate the Moniac’s contributions to economic theory and education.
About Infosys
Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
Logo: https://mma.prnewswire.com/media/633365/Infosys_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/infosys-and-the-financial-times-unveil-the-ft-money-machine-through-immersive-extended-reality-experience-302240430.html
Fintech PR
Renovations ruining relationships: Almost one in five couples consider break up due to home makeover rows
Novuna Personal Finance reveals that a home improvement project has made almost a fifth of homeowners consider parting ways or resulted in a separation
LEEDS, England, Sept. 16, 2024 /PRNewswire/ — Renovating a home is often idealised as a rewarding experience for couples, but a new study reveals a starkly different reality altogether, ruining relationships.
Novuna Personal Finance pinpointed the biggest bugbears within the home as a lack of storage space (32%), outdated kitchens (27%), and cramped bedrooms (19%). As a result, only two fifths (39%) of UK homeowners feel their home is relaxing.
Almost one in five homeowners (19%) admit that home improvement projects have pushed their relationships to the brink, leading to serious consideration of separation or even resulting in an actual breakup. In fact, 1 in 15 (7%) homeowners admitted that renovation disagreements were the final straw that ended the relationship.
This is especially true for younger homeowners, with many biting off more than they can chew when it comes to renovating. A significant, 38% of 25-35 year olds, almost spilt up during their home makeover, with 18% admitting they were unable to reconcile their renovation rows.
Renovations are big undertakings, nevertheless our research revealed that 57%1 of homeowners would take on renovation projects themselves rather than hire a professional, and the added the stress of DIYing could put extra strain on a relationship.
Finances fuel renovation-related rows
Money emerged as the primary fuel for renovation-related arguments (28%), followed closely by clashing priorities (19%) and underestimating the time it takes to complete the work needed (16%).
However, whilst budget is often the main source of tension and compromise, 81% of homeowners agree that the renovation was worth the cost. 14% of homeowners reported fewer arguments after completing a renovation, suggesting that the shared accomplishment can ultimately bring couples closer.
With over half of homeowners (57%) reporting domestic arguments stemming from renovation decisions, it’s no wonder that nearly two-thirds (61%) of home improvement projects in the UK are put on hold as a result.
Compromise is key to keeping the peace (and the relationship)
Over a quarter of respondents (26%) found resolution by meeting in the middle on design elements, with women being slightly more likely to compromise (27% vs. 24% of men). Another 23% compromised on budget. However, a concerning 23% admitted to sweeping the issue under the rug, leaving the work undone and tensions simmering.
Theresa Lindsay, Marketing Director, Novuna Personal Finance; “As house prices continue to rise2, taking on a renovation project can be a great way to get on the housing ladder, and can really transform the way you feel about your home. As our research shows, having realistic goals and a clear budget at the outset is key to reducing tension and maintaining harmony in the home.”
Novuna Personal Finance shares top tips for homeowners to conduct harmonious renovations.
Regions with the biggest break-up and disputes due to renovations
Renovations in London are causing the most heartbreak, with 39% saying they have either almost spilt up or spilt up because of home renovations. Whilst North-West homeowners are the most harmonious.
|
Region |
Proportion of homeowners who have split up (or nearly) due to home renovations |
|
London |
39 % |
|
West Midlands |
25 % |
|
North-East |
21 % |
|
Northern Ireland |
20 % |
|
Yorkshire and the Humber |
17 % |
|
Scotland |
16 % |
|
East Midlands |
16 % |
|
South-East |
15 % |
|
East of England |
15 % |
|
North-West |
14 % |
Notes to editors:
The research was conducted for Novuna Personal Finance by Censuswide among 2,041 homeowners (18+). The data was collected 13.08.24 – 16.08.24.
1 The findings are the result of a YouGov omnibus research study conducted for Novuna Personal Finance from 15.02.24 – 16.02.24. 2,040 UK homeowners aged 23 to 50 were surveyed.
2 Knight Frank, August House Price Forecast
Novuna Consumer Finance
Novuna Consumer Finance is one of the UK’s leading providers of retail point of sale finance and personal loans, lending over £2.3bn to more than a million customers each year.
Novuna Consumer Finance is a trading style of Mitsubishi HC Capital UK PLC, part of Mitsubishi HC Capital Inc., one of the world’s largest and most diversified financial groups, with over 11trn yen (£57bn) of assets.
View original content:https://www.prnewswire.co.uk/news-releases/renovations-ruining-relationships-almost-one-in-five-couples-consider-break-up-due-to-home-makeover-rows-302247966.html
LONDON, Sept. 16, 2024 /PRNewswire/ — Swoop Funding, the leading financial platform that streamlines access to business funding, is proud to announce its new partnership with Compare the Market, one of the UK’s leading comparison websites. This collaboration aims to provide UK small and medium-sized enterprises (SMEs) with even greater access to the diverse range of funding products to help them thrive in today’s economic environment.
In 2023 SMEs accounted for over 99% of the business population, however, despite their significance, many SMEs continue to face substantial barriers when it comes to securing the finance they need. A 2023 report by the British Business Bank revealed that 32% of SMEs found it difficult to obtain external financing, with many citing a lack of awareness about available options as a major obstacle.
The new partnership between Swoop Funding and Compare the Market directly addresses this challenge. By integrating Swoop’s advanced funding platform with Compare the Market’s extensive reach and user-friendly interface, SMEs will now have easier access to a wide range of financing options. This collaboration is particularly timely given that an estimated 45% of SMEs in UK are unaware of the full range of funding options available to them, according to the Federation of Small Businesses.
“UK SMEs are the lifeblood of our economy, but too often they struggle to find the right funding to support their growth,” said Andrea Reynolds, CEO of Swoop Funding. “Our partnership with Compare the Market is designed to remove these barriers by providing a simple, one-stop solution where SMEs can compare and access financial products tailored to their specific needs. Together, we are committed to empowering SMEs to navigate the financial landscape with confidence.”
The partnership will also tap into the growing trend of alternative finance, which is expected to reach approximately £14 billion in 2024. This surge underscores the importance of making non-traditional financing options more accessible, one of this partnership’s key goals.
Bez Arbabzadah, Chief Financial Officer at Compare the Market, commented, “At Compare the Market, our purpose is to make great financial decision making a breeze for everyone. By partnering with Swoop Funding, we are enhancing our customer offering to deliver helpful and important financial solutions to the businesses that need them most. We hope that this partnership will help SMEs thrive and enable them to seize new opportunities for growth.”
The Swoop Funding and Compare the Market partnership is now live, offering SMEs an enhanced experience in finding and securing the funding they need to succeed. For more information, visit https://www.comparethemarket.com/business-finance/.
For media inquiries, please contact:
Swoop Funding: Charlotte Forsberg: [email protected]
Compare the Market: Press office: [email protected]
About Swoop Funding
Swoop Funding is a comprehensive financial platform that helps businesses discover and access the right funding solutions across loans, equity, and grants. By working with over 1,000 funding providers, Swoop ensures that businesses can secure the financing they need, when they need it.
About Compare the Market
Compare the Market was launched in 2006 and has grown rapidly over the past eighteen years to become one of the UK’s leading price comparison websites.
Compare the Market provides customers with an easy way to make the right choice for them on a wide range of products including motor, home, life, travel and pet insurance as well as utilities and money products such as credit cards and loans.
Compare the Market actively works with its brand partners to help provide great services to customers.
Compare the Market is a trading name of Compare The Market Limited. Registered in England No. 10636682. Registered Office: Pegasus House, Bakewell Road, Orton Southgate, Peterborough, PE2 6YS. Compare The Market Limited is authorised and regulated by the Financial Conduct Authority for insurance distribution (Firm Reference Number: 778488). Energy and Digital products are not regulated by the FCA.
Photo – https://mma.prnewswire.com/media/2504973/Andrea_Reynolds_CEO_Swoop_Funding.jpg
Photo – https://mma.prnewswire.com/media/2504974/Compare_the_Market_Meerkats.jpg
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/compare-the-market-partners-with-swoop-funding-to-enhance-sme-access-to-finance-302247686.html
LONDON and NEW YORK, Sept. 16, 2024 /PRNewswire/ — ICIS has announced the ICIS Top 100 Chemical Companies, a global ranking of the leading chemical producers worldwide based on 2023 sales.
Germany-based BASF is again the world’s largest chemical company, with sales of $76.1 billion in 2023, down 21.1% year on year.
Rounding out the Top 5 are China-based Sinopec with $71.3 billion in chemical sales, followed by US-based Dow with $44.6 billion, US-based LyondellBasell with $41.1 billion and US-based ExxonMobil with $40.7 billion.
Most chemical companies saw significant sales declines in 2023 on weak global demand exacerbated by an extended period of customer destocking.
“Many companies experienced the longest stretch of destocking in memory through 2023, exceeding levels during the Global Financial Crisis of 2008-2009. Chemical companies are seeing some improvement thus far in 2024 but far from a meaningful recovery,” said Joseph Chang, global editor of ICIS Chemical Business.
“Companies across the sector from commodity to specialty manufacturers were impacted by weak demand, destocked supply chains, and energy and logistics woes. China demand did not bounce back from COVID shutdowns as everyone hoped,” said Nigel Davis, senior executive at ICIS.
The ICIS Top 100 Chemical Companies ranking compiles sales, operating profits, net income, total assets, capital expenditures and R&D spending for the world’s leading producers.
The ICIS Top 100 Chemical Companies issue of ICIS Chemical Business is available for download here.
Currency conversions to US dollars for the ranking are based on year-end 2023 exchange rates.
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more. Over 150 years of shaping the world by connecting markets to optimize the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £67.8 billion and an employee base of over 35,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalization is approximately £67.8 billion | €80.4 billion | $89.1 billion.
Logo – https://mma.prnewswire.com/media/619935/4911044/ICIS_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/the-icis-top-100-chemical-companies-unveiled-302248308.html
-
Fintech PR6 days agoInternational leaders discuss proposals for global food security and sustainability at FIAP in Cuiabá (MT)
-
Fintech PR6 days agoProdigy Finance Launches $30 Million Blended Finance Programme to Enable the Next Generation of African Leaders
-
Fintech6 days agoGaia-X Introduces the Compliance Document to Enable and Increase Trust, Security, and European Sovereignty in Digital Ecosystems
-
Fintech PR5 days agoGlobal Health Exhibition Announces Opportunity for Healthcare Startups to secure over 100,000 SAR in Vision NextGen Competition Designed to Fast-Track Health Innovations
-
Fintech PR5 days agoOffice of family of Yerzhan Tatishev fight for justice: Convicted assassin could be released early in Kazakhstan
-
Fintech PR4 days agoHTX Announces Strategic Partnership with IBEX to Jointly Promote Global Bitcoin and Lightning Network Applications
-
Fintech PR3 days agoElliott Criticizes the Republic of Korea’s Decision to Continue to Challenge the US $100 Million Arbitral Award at the Expense of Its Citizens
-
Fintech PR5 days agoOnix Positioned as the Leader in the 2024 SPARK Matrix for Cloud Cost Management & Optimization by QKS Group