India has temporarily barred Jane Street Group LLC from accessing the local securities market for alleged index manipulation, dealing a severe hit to the US firm that made $4.3 billion in trading gains there in more than two years.
The Securities and Exchange Board of India said it would seize 48.4 billion rupees ($570 million) from Jane Street, which it claimed is the total amount of “unlawful gains” made by the firm, according to a 105-page interim order by Ananth Narayan, a board member at the regulator, on its website. Jane Street said it disputes the findings.
New data from mobile measurement platform Kochava reveals that artificial intelligence is exposing massive flaws in how app marketers measure success, with nearly half of marketing budgets generating only 7% of actual value. The analysis also shows Apple Search Ads receiving up to 75% more credit than it deserves while other channels are systematically undervalued by billions of dollars.
The findings, presented by Kochava’s Gary Danks at App Promotion Summit London 2025, show that traditional last-touch attribution is creating industry-wide budget misallocation that’s costing companies millions in wasted ad spend.
Marketing Mix Modeling (MMM), the AI-powered statistical method that’s rapidly replacing last-click attribution, is revealing uncomfortable truths about where app marketing dollars actually work. Analysis of 16 of Kochava’s North American clients showed that in one case, 47% of a marketing budget generated only 7% of actual value.
“Between point B and point C, you’ve spent $2,000 just to acquire four more new orders. That’s a CPA of $500 for those last few conversions,” Danks explained, walking through real client data that showed how traditional measurement systems miss these efficiency cliffs entirely.
The problem isn’t just academic. When a UK eCommerce client with a $550,000 monthly budget followed MMM recommendations to reallocate spend without increasing total investment, their cost per acquisition dropped 33% within weeks.
The most striking revelation involves Apple Search Ads, which appears 75% less influential under MMM analysis compared to last-touch attribution. The reason? ASA typically serves as the final touchpoint before app installation, artificially inflating its apparent value.
“ASA often gets credit for users who are already on their way. I like to describe it as the movie theater poster. You see it on the way, but your decision was already made before you got to the App Store,” Danks said.
Meanwhile, platforms like Meta, TikTok, and AppLovin are being systematically undervalued by traditional attribution, revealing what Danks calls “a massive opportunity for marketers.”
The pattern holds across both iOS and Android, with Google facing similar over-attribution due to its control of both the Play Store and search results.
MMM for app growth in 2025
Source: App Promotion Summit
What separates MMM from traditional incrementality testing is its predictive power. While legacy attribution tells you what happened, AI-powered MMM models answer three critical questions: what’s adding incremental value, when do returns start dropping off, and where should you invest next.
“It’s not just retrospective insight, it’s a roadmap based on your KPIs,” Danks emphasized. “Whether you’re optimizing CPA or ROAS or another goal, MMM tells you exactly how much to spend in each channel to maximize efficiency.”
The technology builds cost curves for each marketing channel, using machine learning to analyze historical spend and performance data. This reveals the exact moment when additional investment stops delivering proportional returns — information that’s invisible to traditional attribution methods.
The shift toward MMM represents more than just better math; it’s part of the broader AI transformation of marketing operations. As privacy regulations continue restricting traditional tracking methods, companies are turning to statistical modeling that doesn’t rely on individual user tracking.
“We’re measuring influence, not just what happened last,” Danks explained. “The question to ask yourself is: do you want to be investing in influence, or do you want to be investing in the final touchpoint?”
For an industry that spends billions annually on user acquisition, the implications are staggering. If traditional attribution is systematically misallocating budget across major platforms, the collective waste could represent hundreds of millions in annual overspend on bottom-funnel channels alone.
Sometimes the most transformative change isn’t spending more, it’s spending smarter.
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Porous materials have a wide range of applications due to their capacity to act as filters, or lightweight structural materials that use less material than a solid substance. Researchers including those from the University of Tokyo created a new material fine enough to filter things like viruses but is strong enough to be a rigid construction material for devices. What makes this material unique is, it can be flexible when wet and responds to changes in pH. This and the fact it can be coated onto other substances give rise to a new range of functional and safe materials which use the minimal amount of raw material to create, leading to more sustainable manufacturing possibilities.
You’ve probably seen a loofah sponge at some point, those coarse, tough, weblike things hanging in peoples’ bathrooms. Given their rigid, fibrous nature, you would be forgiven for thinking they are made of some kind of plastic or synthetic material. But believe it or not, the humble loofah sponge is actually the dried-out skeleton of a kind of melon often called an Egyptian cucumber. What makes their desiccated husks so useful, though, is that they are strong when dry, flexible when wet, and dry quickly, which helps resist mold buildup. Some of these properties can be useful in materials made for very different purposes, such as in the manufacture of devices.
“We developed a lightweight yet mechanically robust porous polymer, which resembles the fiber network of a natural loofah sponge. Though we did not set out to create something with such an appearance, it was a pleasant surprise,” said Associate Professor Yoshimitsu Itoh from the Department of Chemistry and Biotechnology at the University of Tokyo. “So-called polymer materials like this already exist in nature, but we wanted to create something synthetic as it affords us control over its properties such that we can give it various useful functions.”
Itoh and his team created a polymer network which can be useful as a filter as the network is dense enough to allow fluids to pass but block objects, including bacteria and viruses (which are also killed). This is desirable as currently, filters for this are often made out of less-sustainable materials, but this synthetic loofah is made from a substance similar to lignin, which is a basic component of wood. Although the team has not yet investigated the safety of the material, it is safe for human contact.
“One drawback of lightweight polymers is their mechanical weakness — they tend to be very soft,” said Itoh. “But ours is low density, only half a gram of material per cubic centimeter, but has a stiffness of 11 gigapascals — for reference this is perhaps four times stronger than that of an ordinary polymer. This means it could be used to create devices where strength is really key, without having to resort to denser, heavier and less-sustainable materials.”
But there’s scope for even greater functionality, as the team is also creating a thin porous carbon membrane by baking the membrane in an inert atmosphere. This could give engineers a material to make nanoscale, functional electronic components, such as microcapacitors, more efficiently and with greater structural characteristics. Another possibility is for the polymer to have some dynamic properties, things that change with time due to the presence of something else. In this case, certain changes in pH, acidity or alkalinity, can make the polymer more or less rigid, essentially allowing a portion of material to become more or less porous.
“In principle, this material we created could find many uses, though we have many steps to take before contemplating industrial integration of any kind,” said Itoh. “But the production is very cheap and easy to perform, using only pure water with a voltage applied, and a mixture of deprotonated resorcinol and an aldehyde, which spontaneously combine to make an ultrathin membrane with a loofah-like appearance under an electron microscope. One big advantage of this membrane is that there is no need for post-processing. Usually, thin films are made by first synthesizing the bulk polymer and then processing it into a film. Our method can directly give the product the form of a thin film and is, in principle, applicable to roll-to-roll processing. This is a big advantage for the production.”
Reference: Itoh Y, Fu T, Champagne PL, et al. Electric double-layer synthesis of a spongelike, lightweight reticular membrane. Science. 2025;389(6755):73-77. doi: 10.1126/science.adq0782
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Summer beckons with opportunities for travel, socialising, and sunshine.
But these months can be the ideal conditions for fostering the spread of viruses and bacterial infections.
Prioritising health during these warmer months is crucial.
After all, a positive Covid test or a severe case of food poisoning can swiftly derail holiday plans.
To ensure a healthy and enjoyable sunny season, experts have compiled eight essential tips to help you steer clear of illness.
“Heat-related illnesses are more common than many people realise during the summer, especially when temperatures climb or humidity is high,” says Dr Chun Tang, GP at Pall Mall Medical. “The best line of defence really is prevention, so keep hydrated, wear light, breathable clothing, and avoid strenuous activity during the hottest parts of the day, typically between 11am and 3pm.
“If you start to feel unwell, stop, find somewhere cool to rest, sip water, and use a damp cloth to cool your skin. If symptoms worsen, particularly if you stop sweating or feel confused, don’t delay seeking medical attention.”
Summer is prime time for foodborne illness.
“Warm weather and outdoor meals, picnics, barbecues, street food, create ideal conditions for bacteria like salmonella, E. coli, and listeria, especially when food isn’t cooked properly or stored safely,” warns Tang. “To reduce the risk, keep perishable foods cold in a cooler or fridge right up until serving.
“Cook meats thoroughly and don’t leave food out for more than an hour or two in the heat.”
Dr Ireny Salama, GP and aesthetic doctor at London-based wellness and longevity clinic The HVN, agrees and adds: “It’s often the “fresh” things like ice cubes and salads that cause trouble abroad. Stick to bottled water and cooked dishes when you’re unsure about local hygiene standards.”
“While COVID-19 doesn’t follow seasonal patterns like the flu, summer holidays and gatherings can increase the risk of exposure, particularly in crowded indoor spaces,” highlights Tang.
“New variants continue to emerge, and immunity from previous infection or vaccination may decrease over time. Keeping up to date with vaccinations, including any boosters, remains one of the most effective ways to protect yourself from Covid.”
“Four essentials: a foldable fan, rehydration sachets, a cooling mist and hand sanitiser, are simple but surprisingly powerful when you need them,” says Salama.
COVID-19, food poisoning and gastroenteritis can often be avoided by maintaining proper hand hygiene.
“Practice good hand hygiene before eating,” advises Tang. “Alcohol hand gels are helpful, but soap and water is your best bet when available.”
Mosquito-borne diseases continue to pose a significant risk in tropical and subtropical regions.
“Dengue fever, Zika virus, and malaria are all transmitted via mosquito bites, and with climate change, we’re seeing these illnesses in new regions too,” says Tang. “Protection is key. Use an insect repellent with DEET, sleep under mosquito nets where appropriate, and wear long sleeves and trousers, especially around dawn and dusk when mosquitoes are most active.
“If you’re travelling to a high-risk region, speak with your doctor well in advance about any recommended vaccines or antimalarial medication.”
Don’t let your desire for a sun-kissed tan compromise your health.“Sunburn might feel like a short-term nuisance, but over time, repeated exposure to UV radiation can lead to serious skin damage and significantly raise the risk of skin cancer, including melanoma,” warns Tang. “Even mild burns accumulate harm over the years.“To protect your skin, apply a broad-spectrum sunscreen (SPF30 or above) generously, and reapply every two hours, more often if swimming or sweating. If you do get sun burnt, cool the skin with damp cloths or a cool bath, use moisturiser (aloe vera or unscented creams can help), and drink plenty of water.”
Adjusting your sleep schedule several days before your trip will help you start your holiday feeling refreshed and energised.“Long-haul travel can disrupt your internal body clock, causing sleep disturbances, digestive issues and general fatigue,” says Tang. “Travelling east tends to make symptoms worse, and it can take a few days to feel back to normal.“To reduce the impact of jet lag, try adjusting your sleep schedule a few days before travel. Once you arrive, get outside during daylight hours to help reset your rhythm.”
Chemistry came alive in a reimagined form at the 75th Yusuf Hamied Chemistry Camp for Visually Challenged Students, hosted at the Indian Institute of Technology (IIT), Bombay.
Whether it’s the vibrant red and green flames of strontium and barium salts during a flame test or the striking ‘golden rain’ formed by the reaction between lead nitrate and potassium iodide, the visual drama of chemical reactions is often what captivates students. The very spectacle that makes chemistry so appealing can also become a significant barrier, shutting visually impaired students out of the full experience while leaving educators grappling with how to make the subject accessible to everyone.
Guided by the belief that chemistry is for everyone, this inclusive education project set out to go beyond the usual high school chemistry experiments. The team redesigned the experiments to engage touch, smell and sound. The result was a rich, multi-sensory experience that allowed 59 visually impaired students from schools in Mumbai, Nasik, Pune and Solapur to explore the wonders of chemistry.
The initiative was supported by the Royal Society of Chemistry (RSC) and Yusuf Hamied, chairman of Cipla.
The camp introduced a new handbook featuring six hands-on experiments developed by Chandramouli Subramanian of IIT Bombay, which were translated into braille. Students were divided into small groups, and each experiment was run by a volunteer from the institute, enabling the students to carry out the activities independently.
‘Science must be accessible to all,’ said Swetavalli Raghavan, head of innovation strategy and government affairs at the RSC. ‘This initiative helps break the myth that chemistry is a visual science. With the right tools and teaching methods, we can open up the world of scientific inquiry to every learner, regardless of ability.’
Tactile chemistry kits, featuring textured materials, raised diagrams and braille labels, have helped make science more accessible for students with visual impairments. But Subramaniam pointed out that these kits can be costly for schools. Therefore, his team focused on adapting experiments usually included in the school curriculum.
A school science fair classic, the potato battery experiment shows how a vegetable can power a small electronic device. By inserting two different metals, typically zinc and copper, into a potato, students create a simple electrochemical cell that generates a small voltage that can power low-energy devices, such as LEDs. The team simply replaced the LED with a buzzer.
In designing the activity, the team also aimed to give students a broader understanding of energy conversion. As Subramaniam explained, the experiment became a starting point for a larger conversation – tracing how plants absorb solar energy through photosynthesis, store it as chemical energy in the form of sugars, and how that same energy, now held in a potato or lemon, can be released and transformed into sound through a simple electrochemical reaction.
Experiments involving heat were handled with extra care. These included an esterification, where a carboxylic acid and an alcohol reacted in the presence of an acid catalyst to yield a fruity-scented ester when heated in an oil bath. Unlike other activities where students did most of the work themselves this step required hands-on support from the volunteers.
In addition to pre-measuring the chemicals and carefully supervising each step. ‘One great thing that [the] professor suggested was to put on blindfolds and do your experiments one or two times, so that you’re sensitised to their experiences,’ says Devashish Bhave, a volunteer at the camp. ‘We even tried each other’s experiments with blindfolds on to check if our instructions were clear enough.’ He highlighted that this exercise was a powerful reminder that what might seem simple or obvious with sight becomes much more complex without it.
‘Doing the experiment 72 times might sound repetitive, even boring, but it was one of the best experiences I’ve had in a lab,’ adds Devashish. ‘Each time a student dropped Mentos into the [fizzy drink] bottle and sealed it with the balloon-fitted cap, the balloon began to expand as gas was released. I would ask them to feel the balloon becoming bigger. The joy and excitement that they had on their faces made every single time worth it.’
In conversations with volunteers, several students shared that they had arrived at the camp feeling hesitant, even afraid of the lab, due to past experiences. However, by the end, they felt hopeful about pursuing a career in science.
‘We have chemistry as a subject in school, but the experiments in the syllabus were always taught verbally, we never had the chance to do them ourselves,’ says Saee, one of the workshop participants. ‘This was the first time I experienced chemistry hands-on, and it gave me the confidence to know I’m capable of doing these experiments. Now, I’m excited to explore even more.’