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Contactless Payments: The Preferred Choice for British Consumers

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March 4, 2024

Contactless Payments: The Preferred Choice for British Consumers

Contactless payments have taken over the retail landscape in Britain, with a staggering 93.4% of all in-store card transactions under £100 being conducted through touch and pay methods in 2023. This data from Barclays showcases the significant shift towards contactless payment methods in the UK.

What is even more noteworthy is the growth among older generations in adopting contactless payments. Individuals aged 65 and above have shown a remarkable increase in using touchless transactions, with usage reaching 80% among those aged 85 to 95. Overall, there was a 7.8% increase in touchless transactions in the UK compared to the previous year.

The average individual in the UK made 231 contactless transactions in 2023, up from 220 in the previous year. Not only are people making more transactions, but they are also purchasing more expensive items. Consequently, total consumer spending through contactless payments rose by 8.9% to £3,623 for the year.

While the age gap in contactless payment usage is decreasing, younger consumers are demonstrating a preference for mobile payments. More individuals aged 18 to 34 are opting to pay with their phones rather than using physical cards. In fact, 22% of shoppers in this age group do not even carry a wallet when they go shopping. Additionally, 15% of those ages 18 to 34 prefer scanning a QR code to pay at a restaurant, eliminating the need to wait for the bill at the end of a meal.

Interestingly, when it comes to high-value purchases exceeding £100, traditional payment methods are still favored in the UK. Chip and PIN cards and cash remain popular options for big-ticket items, with mobile wallets ranking third in popularity.

These trends underscore the prevailing preference for contactless payments over cash in the UK. According to a survey from takepayments in 2023, almost half of respondents (48%) favored contactless card payments, surpassing cash (17%) and chip and PIN transactions (11%). The shift towards contactless payments in Britain seems to be a lasting trend that is reshaping the way consumers make purchases.

‘Launch of Aurora Program 2024 – Introducing New Leaders!’

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March 4, 2024

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‘Launch of Aurora Program 2024 – Introducing New Leaders!’

Rocket Software recently celebrated the launch of the fourth year of its Aurora Program, a development course tailored to empower women leaders in the organization. The program aims to build and strengthen their careers, enhance leadership styles, and practices. The emphasis is on creating a network of empowered women who can take control of their careers and inspire others to do the same.

During the kick-off event, participants were welcomed by Addie Schwartz, CEO of reacHIRE, and Libby Hillenbrand, senior director of leadership development and DEI at Rocket Software. Hillenbrand expressed excitement about empowering the women in the program, while Schwartz emphasized the opportunity for participants to pay it forward and share their learnings with others.

A panel of women Rocketeers and Aurora graduates shared their experiences and learnings from the program, highlighting the importance of building a strong support network and empowering each other. The program aims to help members become the best version of themselves so they can uplift other women and invest in their futures as leaders.

The Aurora Program mentors this year include seasoned professionals with over 30 years of experience in various fields, who will guide the participants in their leadership journey. Rocket Software continues to expand its RIDE Program, which promotes awareness, education, resources, and support for employees, customers, and the community at large.

The company’s commitment to inclusion, diversity, and equity is reflected in programs like Aurora, which aim to create a culture of belonging and celebrate differences. The participants of the Aurora program showcase this commitment, and Rocket Software is proud of their achievements. To learn more about the RIDE Program and Rocket Software’s investment in its employees, visit their website.

‘Asian Division of iByond™ Inks .2B Contract with Knightsbridge to Drive Digitization and Fintech Globally’

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March 4, 2024

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‘Asian Division of iByond™ Inks .2B Contract with Knightsbridge to Drive Digitization and Fintech Globally’

ETT | iByond™ and Knightsbridge Group have recently announced a groundbreaking partnership projected to reach up to .2 billion, demonstrating a significant step forward in the global digitization and fintech space. This collaboration signifies a crucial moment in incorporating cutting-edge technologies to fuel innovation and transformation across various industries.

The agreement between ETT | iByond™ and Knightsbridge Group will see them working together to lead digital initiatives and reshape financial technology offerings. By merging iByond™’s expertise in Artificial Intelligence (AI) with Knightsbridge’s extensive global network and resources, the partnership aims to provide unmatched solutions tailored to meet the evolving needs of businesses and consumers worldwide. This joint venture will utilize ETT’s state-of-the-art data management and AI infrastructure.

Economic Transformation Technologies “ETT | iByond™” (ETT) Asia Division has successfully executed a five-year software services and licensing agreement with Knightsbridge valued at 3 million to ETT and over 0 million to Knightsbridge. This partnership seeks to revolutionize the financial services industry through cutting-edge digital solutions.

The collaboration between ETT and Knightsbridge leverages ETT’s advanced data management and AI platform infrastructure alongside Knightsbridge Group’s market technologies to deliver a comprehensive fintech platform offering unparalleled efficiency, security, and scalability. By harnessing the power of AI, the platform will enable financial institutions to streamline operations, enhance customer experiences, and drive sustainable growth in today’s dynamic marketplace. This collaboration signifies a significant milestone in Knightsbridge’s expansion strategy and reinforces its commitment to driving growth in the region.

The rapid growth of AI and fintech in Asia is reshaping the economic landscape at an unprecedented pace. With advancements in AI technology and increased digitalization across industries, Asia has emerged as a hub for innovation and investment in AI and fintech solutions. This region is leading the global AI and fintech revolution by unlocking new opportunities and driving innovation across sectors.

Christopher Condon, Chairman, and CEO of ETT, emphasized the partnership’s significance, stating, “This partnership underscores ETT’s dedication to being at the forefront of digital innovation and reaffirming its position in global growth and the rapidly evolving Asian market.”

David Chlapowski, President of the Americas and Emerging Markets, added, “The interoperability of disparate platforms combined with the learning capabilities of AI will provide efficiencies never before possible. The ETT/Knightsbridge FinTech Platform is the glue bringing this all together, ushering a new era of Web 4.0.”

Issaree Suwunnavid, Managing Director of Knightsbridge Group, expressed enthusiasm about the joint venture with ETT, bringing cutting-edge fintech solutions to Asia. This partnership aims to empower businesses and individuals across the region with innovative financial services.

For more information, visit ettworld.com or knightsbridgelaw.com.

Optimism for the farm bill persists despite obstacles

Business

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March 4, 2024

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Optimism for the farm bill persists despite obstacles

Despite obstacles, there is still hope that a farm bill can be accomplished this year, despite the ongoing budget battle in Congress. House Agriculture Committee member Eric Sorenson emphasizes the importance of resolving the budget issue first before focusing on the farm bill. He remains optimistic about the possibility of pushing through a farm bill by the September deadline, highlighting the need to improve upon existing policies rather than completely rewriting them.

Fellow House Agriculture Committee member, Congresswoman Nikki Budzinski, echoes the sentiment that congressional leaders are keen on getting a farm bill passed. She praises Chairman Thompson for his efforts and mentions discussions with Senate Chairwoman Debbie Stabenow, emphasizing the importance of completing the bill before the end of the year.

The current farm bill extension is set to expire at the end of September, adding urgency to the need for progress and cooperation in Congress. Despite the challenges, there is a sense of determination and optimism among lawmakers to push through and enact legislation that will benefit the agricultural sector.

‘Conversion of Traditional Gas Station into an EV Charging Park by EFFEKT’

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March 4, 2024

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‘Conversion of Traditional Gas Station into an EV Charging Park by EFFEKT’

Denmark, a country known for its commitment to sustainability, has introduced a groundbreaking approach to electric vehicle (EV) charging infrastructure. EFFEKT, an innovative design studio based in Copenhagen, has transformed the traditional petrol station into a symbol of the future with the Better Energy Charge fast charging station in Sønderborg, Denmark.

This station, created as the first pilot project for renewable energy company Better Energy, goes beyond just functionality. Unlike conventional petrol stations that rely on carbon-intensive materials like concrete and steel, Better Energy Charge integrates renewable and bio-based materials, permeable surfaces, and recreational spaces. This design fosters a seamless connection between technology, environmental consciousness, and renewable energy.

The station’s organic shape serves as a powerful symbol, representing the shift from fossil fuels to renewable energy. Inspired by curved streets, the design captures the essence of the station’s primary purpose while demonstrating a commitment to sustainability. EFFEKT co-founder Sinus Lynge explains, “We wanted the pavilion’s design to be organic and inviting, much like Danish furniture classics. We have used nature’s own materials – the construction is built in cross-laminated timber, which binds CO2 from the atmosphere throughout its entire lifespan.”

As the world moves towards a greener future, this charging park stands as a beacon of thoughtful design that can redefine our relationship with technology and the environment.

For more information on the Better Energy Charge, visit effekt.dk. Photography by Rasmus Hjortshøj.

USDT stablecoin reaches 0 billion market value, benefiting from Crypto trading frenzy.

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March 4, 2024

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USDT stablecoin reaches 0 billion market value, benefiting from Crypto trading frenzy.

The company, however, has faced a considerable amount of scrutiny over the years for its opaque reserve management, at one point holding risky assets like Chinese commercial paper and extending credit to now bankrupt Crypto lender Celsius, as well as a lack of independent audits – a more thorough financial analysis than attestations. It now claims to be primarily backed by safer investments such as US Treasury bonds, repurchase agreements, and deposits in money market funds.

Electric vans introduced by FedEx Express in Spain.

Business

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March 4, 2024

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Electric vans introduced by FedEx Express in Spain.

FedEx Express Europe has taken a significant step towards sustainable operations with the introduction of its first Mercedes-Benz eSprinter van for ground operations in Spain. This move is part of a larger rollout plan, with 33 vans set to be deployed throughout the country this year.

The 3.5-metric tonne fully electric vehicles will be based at FedEx Express stations in Madrid and Barcelona, with 33 charging points strategically placed across both locations. The energy used to power these vans is certified as coming from renewable sources, and a dynamic power management solution has been implemented to ensure that the electric fleet can be fully charged on-site overnight.

Ian Silverton, managing director of ground operations at FedEx Express Spain, expressed enthusiasm about the introduction of the electric vans, stating that both employees and customers are excited to see them in action. By incorporating low and zero-emission vehicles into their operations, FedEx Express is moving closer to achieving more sustainable practices in both Madrid and Barcelona.

In alignment with FedEx’s global goal of achieving carbon-neutral operations by 2040, the introduction of these electric vehicles will allow for the redistribution of diesel vehicles with remaining operational life, while also phasing out older, less eco-friendly vehicles from the fleet.

David Perdomo Hollatz, head of sales and marketing at Mercedes-Benz Vans Region Europe and Germany, expressed satisfaction in the role that the eSprinter vans are playing in helping FedEx Express work towards its emission-free delivery objectives. He emphasized the importance of reliability and customer focus in both logistics and vehicle manufacturing.

In addition to Spain, FedEx Express has already integrated 23 electric vehicles into operations in London, UK; 12 in Amsterdam, Netherlands; and has plans to deliver 28 more to the Paris area in France. This expansion of electric vehicle usage across Europe underscores FedEx Express’s commitment to sustainable and environmentally conscious practices.

‘Sea Ltd ADR Increases by 4.29% to .28 Following Earnings Report’

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March 4, 2024

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‘Sea Ltd ADR Increases by 4.29% to .28 Following Earnings Report’

Sea Ltd ADR’s stock price surged by 4.29% to .28 following the recent report, showcasing a positive trend for investors. Despite a decline in both earnings and revenue, the company managed to maintain its profit margins, indicating strong financial management.

Prior to the report, Wall Street Analysts had given the stock an average rating of Buy, showing confidence in Sea Ltd ADR’s future performance. Additionally, InvestorsObserver currently gives the stock a Bullish Sentiment score based on recent trading activities.

Sea Ltd ADR operates Shopee, Southeast Asia’s largest e-commerce platform in terms of gross merchandise value and transaction volume. Originally a gaming business with Garena, the company expanded into e-commerce in 2015, with Shopee now serving as its primary growth driver. Shopee operates as a hybrid C2C and B2C marketplace across eight key markets, with Indonesia accounting for 35% of GMV.

Garena’s popular game, Free Fire, was the most downloaded game in January 2022 and contributed to 74% of the gaming revenue in 2021. Sea Ltd ADR’s third business, SeaMoney, facilitates e-wallet payments on Shopee and offers digital financial services such as credit lending, showcasing the company’s diversified revenue streams.

Integrating Cutting-Edge Technologies in Deploying Disaggregated RAN

Business

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March 4, 2024

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Integrating Cutting-Edge Technologies in Deploying Disaggregated RAN

Three industry leaders, Gautam Bhagra of Dell Technologies, Henrik Jansson of Samsung Networks, and Cristina Rodriguez of Intel, recently shared insights on how mobile operators can expedite the deployment of disaggregated radio access networks. In a collaborative effort, the three companies are working to integrate the necessary technologies for operators to establish advanced networks.

During the discussion, Bhagra, Jansson, and Rodriguez emphasized the importance of efficiency and speed in deploying these networks. By leveraging their expertise and resources, they aim to provide mobile operators with the tools and solutions needed to build cutting-edge networks that meet the increasing demands of today’s consumers.

This partnership highlights the significance of cooperation among industry giants to drive innovation and enable the seamless integration of technologies in the telecommunications sector. Bhagra, Jansson, and Rodriguez are confident that their combined efforts will pave the way for enhanced network capabilities and improved connectivity for mobile operators worldwide.

LG is Redefining Laundry Day with its Next-Generation Washing Machines – PRWire

News

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March 4, 2024

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LG is Redefining Laundry Day with its Next-Generation Washing Machines – PRWire

The new washer-dryer combo with TurboWash™ and 6Motion Direct Drive brings the future of laundry to the here and now

LG Electronics (LG) is giving the gift of time with its next-generation washing machines. Designed to revolutionize the way households approach laundry, these cutting-edge washer-dryers offer a host of features aimed at saving space, time, and energy while delivering unparalleled washing performance.

LG’s washer and dryer all-in-one solution not only saves valuable space in the home but also eliminates the need for switching machines or hanging out clothes to dry, streamlining the laundry process like never before. And with the innovative TurboWash™ – an energy and water-efficient cycle that delivers the same washing performance of a normal, longer spin – cleaning clothes in just 29 minutes allows even less time dedicated to laundry and more time for living life to the fullest.

The latest all-in-one washer-dryers from LG also boast Steam™ technology, which ensures clothes are not just clean, but also free from allergens and odors by eliminating 99.9% of allergens such as dust mites, offering peace of mind for families; particularly those with allergies or respiratory issues.

Proving technological advancement is always at the forefront of LG products, its 6Motion Direct Drive technology moves the wash drum in multiple directions, providing powerful yet gentle care for fabrics. Whether it’s tough stains or delicate garments, rest assured your clothes will receive the proper care while being ultra-clean.

With not one but two high-efficiency Inverter Direct Drive motors, LG’s washers deliver enhanced performance and durability while crucially operating quietly and with minimal vibration, meaning much less distraction when letting the machine get on with its business, leaving you to yours, all the while consuming less energy, contributing to reduced electricity consumption.

To complement its space-saving qualities, LG’s generous front-loading machines – which allow the wash cycle to be paused to add forgotten items – boast as much as 20kg washing and a 12kg drying capacity, perfect for handling large loads with ease. Moreover, with Smart Diagnosis™ and SmartThinQ (WiFi) accessibility, managing laundry has never been more intuitively advanced.

To learn more about LG’s washing machines, please visit: https://www.lg.com/ae/washing-machines/lg-f20l2crv2e2-uae

About LG Electronics Home Appliance & Air Solution Company

The LG Home Appliance & Air Solution Company is a global leader in home appliances, smart home solutions, air solutions as well as visionary products featuring LG ThinQ AI. The company is creating various solutions with its industry leading core technologies and is committed to making life better and healthier for consumers by developing thoughtfully designed kitchen appliances, living appliances, HVAC and air purification solutions. Together, these products deliver enhanced convenience, superb performance, efficient operation and compelling health benefits. For more news on LG, visit www.LGnewsroom.com.