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    Samsung Group in talks to buy U.S. drugmaker Biogen – Korea Economic Daily

    The report said Biogen approached Samsung to buy its shares, which could be valued at more than $42 billion. The drugmaker is valued at $34.67 billion, according to Refinitiv data.The deal could be the biggest overseas acquisition ever by a South Korean company. The largest so far was in 2016, when Samsung Electronics (OTC:SSNLF) bought auto electronics maker Harman International Industries (D:HAR) in an $8 billion deal. Samsung Group had said earlier this year it will invest 240 trillion won ($206 billion) in the next three years to expand its footprint in biopharmaceuticals, artificial intelligence, semiconductors and robotics in the post-pandemic era.Biogen said it does not comment on market rumors or speculation, while Samsung did not immediately respond to Reuters request for comment. Shares of Biogen were up 8% in afternoon trading at $255.90. In June, Biogen’s controversial Alzheimer’s drug won U.S. regulatory approval, becoming the first new treatment for the memory-robbing disease in nearly 20 years, despite an outside advisory panel’s view that the company had not proven the treatment’s clinical benefits.Biogen has been betting on the drug, Aduhelm, to buffer a hit as its main revenue drivers such as multiple sclerosis treatment Tecfidera and muscle disease treatment Spinraza face rising competition. But U.S. sales from Aduhelm have been slower than expected as hospitals complained that the drug’s high cost was not worth its benefits. The company cut its price by about half to $28,200 this month.Biogen, which makes drugs for neurological diseases, currently has more than 30 new drugs in its pipeline. More

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    ROSE gains 54% in a week as Oasis Network ecosystem expands

    One layer-one (L1) protocol that has been gaining traction in recent months that seeks to offer a low-cost solution to high fees is the Oasis Network (ROSE), a privacy-focused L1 blockchain built using the Cosmos SDK and designed for open finance and a responsible data economy. Continue Reading on Coin Telegraph More

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    FirstFT: Elon Musk rejects claims his satellites are squeezing out rivals in space

    Elon Musk has hit back at criticism that his company’s Starlink satellites are hogging too much room in space, and has instead argued there could be room for “tens of billions” of spacecraft in orbits close to Earth.His comments, in an interview with the Financial Times, came in response to a claim from Josef Aschbacher, head of the European Space Agency, that Musk was “making the rules” for the new commercial space economy.China complained this month to the UN that two Starlink satellites had forced the Chinese space station to take “preventive collision avoidance control” measures in October and July to “ensure the safety and lives of in-orbit astronauts”.But rejecting suggestions he was “squeezing out” future satellite competitors, Musk compared the number of satellites in low Earth orbit to what he said were 2bn cars and trucks on Earth. “A couple of thousand satellites is nothing,” Musk said. “It’s like, hey, here’s a couple of thousand of cars on Earth — it’s nothing.”SpaceX, Musk’s private space company, has already launched nearly 2,000 satellites for its Starlink broadband communications network and has plans for tens of thousands more.Some experts challenged Musk’s claim that satellites in low Earth orbit could safely match the density of cars and trucks on Earth. Spacecraft travelling at 17,000mph need far greater separation than cars to leave time to adjust their orbits if a collision seems likely, said Jonathan McDowell, an astrophysicist at the Harvard-Smithsonian Center for Astrophysics.Three more stories in the news1. Japan’s PM to visit Australia for security talks Fumio Kishida will meet his Australian counterpart Scott Morrison next week to discuss defence and security in the Indo-Pacific and China’s rising military ambitions in the region. The two leaders are expected to sign a landmark security treaty agreed by both countries in November.2. HK pro-democracy news site Stand News closes Hong Kong’s leading pro-democracy news outlet said it would close after national security police officers raided its headquarters, arresting seven people, including current and former senior executives, for conspiring “to publish seditious” material.

    Editor of Stand News Patrick Lam, centre, is arrested by police officers in Hong Kong © AP

    Media groups to spend more than $100bn on new content The top eight US media groups plan to spend more than $100bn on new movies and TV shows next year in pursuit of a video streaming business that loses money for most of them. The planned investments come amid concerns that it will be harder to attract new customers in 2022 after the pandemic-fuelled growth in 2020 and 2021.Coronavirus digestThe World Health Organization has warned of a “tsunami of cases” of Covid-19 around the world as some countries, including France and the US, reported record-breaking infection tallies.Boris Johnson’s plea for “cautious” new year celebrations in England is being undermined by problems with the availability of lateral flow and PCR tests.Long-haul air traffic remains subdued, with many big wide-bodied planes that fly intercontinental routes sitting idle.China’s rise in coronavirus infections has resulted in production halts and shipment delays that could hamper the economy. (Nikkei Asia)What else we’re readingGraphics of the year — making sense of 2021 From Covid charts to technological explainers, we are living in an era that is increasingly captured by visual reporting. Graphics have a language as rich and expressive as the written word. Here are some of this year’s standouts selected by the FT’s data team.

    What makes a job good? Sarah O’Connor, employment columnist at the Financial Times, recently asked her Twitter followers to tell her about jobs they loved and one common thread linked many of their stories. The books to read in 2022 The FT’s books editors pick their titles to look for in the coming year from the worlds of fiction and non-fiction, poetry and business by established authors as well as some new names.Most read Work & Careers articles of the yearThe pandemic forced many to work from home while juggling the demands of family life, leading to feelings of being overwhelmed and under-appreciated. In February, our Work & Careers team asked FT subscribers to share their views on these enforced new working arrangements. More than 250 readers responded.

    © Kenneth Andersson / Eye Candy More

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    Coinone will stop withdrawals to unverified external wallets

    In a Wednesday announcement, Coinone said users would have from Dec. 30 to Jan. 23 to register their external wallets at the exchange, after which time it would restrict withdrawals. The exchange specified that crypto users could only register their own wallets, and the verification process “may take some time” and could change in the future.Continue Reading on Coin Telegraph More

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    Play-to-Earn Gaming is Over in South Korea

    The South Korean government asked tech giants Google (NASDAQ:GOOGL) and Apple (NASDAQ:AAPL) to remove play-to-earn (P2E) games from Google Play and the App Store while also banning the release of new ones. With P2E games, users can buy NFTs to play and receive in-game prizes.Some countries limit the number of gaming prizes a user can receive. In South Korea, the price cannot exceed 10,000 KRW ($8.42).The South Korean government was bound to speak up and push for further restrictions amid the increasing popularity of P2E gaming. Even after facing court battles with game developers since April, the government’s solution was to reject age ratings of these games, so they couldn’t be listed in App stores.On the 28th of December, the GMC (Game Management Committee) official from the South Korean Ministry of Culture, Sports and Tourism asked the tech giants to block any games that require in-game purchases beforehand. On the FlipsideWhy You Should CareIt’s the first time that the government has directly affected the marketplace of Google and Apple.EMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
    You can always unsubscribe with just 1 click.Continue reading on DailyCoin More

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    Russian 2021 inflation accelerates to 8.39%, preliminary data shows

    Inflation, which is hovering near its highest levels since early 2016, has become an acute problem for Russia, denting living standards and prompting President Vladimir Putin to call for preemptive measures.The increase in the consumer price index in 2021 came above analysts’ expectations for a rise of 8.2% in a Reuters poll carried out in late December.The central bank, which targets inflation at 4%, had to revise its inflation forecasts higher during the year but kept saying that the pace of annual consumer price growth would near the target in 2022.The bank is expected to raise rates again, from 8.5%, in the first quarter of 2022, according to the Reuters monthly poll.In the week to Dec. 27, the consumer price index rose 0.26%, Rosstat said.Rosstat said it would publish the final inflation reading on Jan. 12. Rosstat gave the following details: RUSSIAN CPI Dec 21* Nov 21 Dec 20 Mth/mth pct change +0.82 +0.96 +0.83 – food +1.36 +1.27 +1.53 – non-food +0.64 +0.72 +0.40 – services +0.26 +0.81 +0.42 Y/Y pct change +8.39 +8.40 +4.91 *Preliminary data More

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    Bitcoin declines as December struggle continues for cryptocurrencies

    Investing.com – Bitcoin was trading below $47,000 on Wednesday as cryptocurrencies look set to end the year with a whimper. The world’s largest cryptocurrency by market cap remains around 30% below its all-time high hit in November but is still higher by around 65% year-to-date. The cryptocurrency is down around 17.5% in December and is heading for its worst month since May when it fell over 35%. Other major cryptocurrencies were showing similar price action with Ethereum down around 4% in the last 24 hours, trading near $3,750. Other cryptocurrencies linked to Decentralised Finance (DeFi) were also falling, with Solana down around 10% and Cardano down 9% in the last 24 hours.There was no single catalyst for the decline in cryptocurrencies, but the focus remains on the impending removal of central bank stimulus that has helped push cryptocurrencies higher over the last 12 months.The Federal Reserve has quickened the pace of its tapering of asset purchases, while the ECB has announced its pandemic emergency purchase programme will be coming to an end next year. The Bank of England somewhat surprised markets earlier this month when they voted to increase the interest rate for the first time since August 2018.The highly speculative nature of Bitcoin and other cryptocurrencies means that as central banks remove the punchbowl, the digital assets could be shunned by investors for historically more stable and safer assets.On the recent decline, Bitcoin has dropped below the 21-day moving average around $48,500 and back below the 200-day moving average near $47,750.The 50-day moving average has now also crossed below the 100-day moving average. When a shorter-term moving average crosses below a longer term moving average it is known as a ‘death cross’ and is often a signal of a bearish trend. However, the more common moving averages used to signal a ‘death cross’ are the 50-day moving average and the 200-day moving average.To the downside, support is seen around $45,500 which was the mid-December low. Below that level, the flash crash low from 4th December near $42,600 could also act as support.On the upside, the 200- and 21-day moving averages (mentioned above) could now act as resistance. More