Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
OpenAI IPO Delay Weighs on SoftBank Shares as AI Valuation Concerns Grow 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Momenta Launches Hong Kong IPO to Raise Up to $751 Million for AI and Robotaxi Expansion 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
China Manufacturing PMI Edges Higher in June as Exports and AI Investment Boost Growth 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Baige Online Shares Soar 333% in Hong Kong IPO Debut as AI Insurance Demand Lifts Chinese Listings 
Johns Hopkins University Lays Off 110 Employees as Federal Research Funding Declines 
US Egg Producers Settle Price Manipulation Probe, Agree to Pay $3.3 Million and Donate 53 Million Eggs 
US Judge Seeks Explanation for DOJ’s Decision to Drop Gautam Adani Bribery Case 
China Eastern Orders 25 Airbus A330neo Jets in $9.35 Billion Deal to Boost International Expansion 
SoftBank Shares Slide as OpenAI IPO Delay Concerns Weigh on AI Investment Outlook 
Dollar Slips Ahead of Key U.S. Jobs Data as Fed Rate Outlook, ECB, and Iran Talks Shape Forex Markets 
Anthropic Brings Claude AI Models to Microsoft Azure Foundry With NVIDIA Blackwell GPUs 
Lotte Biologics is reportedly accused of stealing the trade secrets of its rival, Samsung Biologics. A probe into the case was already launched by prosecutors, and officials will be especially checking into some of the company’s employees who were suspected of the crime.
According to The Korea Times, the Incheon District Prosecutors' Office dispatched investigators last week to search the headquarters of Lotte Biologics located in Seoul’s Lotte World Tower. The raid took place on Friday, Oct. 7, and during the search, authorities said they were able to secure the computers of three former workers who were revealed to have moved from Samsung Biologics to Lotte Biologics, but their job positions in the company were not revealed.
Prior to the investigation, it was reported that Samsung Biologics filed to apply for a court directive for the infringement of its company trade secrets in May. In the application for the injunction, it mentioned its three former employees who moved to Lotte Biologics in July.
While their job roles were not disclosed, the three people were said to have work duties related to Samsung Biologics’ core business. The trio was also said to have printed a large number of company documents before transferring to its rival firm, Lotte Biologics.
The Incheon District Court responded to the application by granting Lotte’s request and issuing an injunction against the infringement of trade secrets that were filed by Samsung’s biotechnology business unit on July 29. The directive was to prevent the leak of any business secrets that could be utilized by Lotte Biologics for its benefit.
"We cannot reveal the specifics of the investigation including the search and seizure," the prosecution body commented with regard to the recent raid at the Lotte Biologics HQ
Meanwhile, the biological CDMO (Contract Development Manufacturing Organization) division of the Lotte Group was said to have started hiring bio professionals in the last quarter of 2021 as it was preparing to jump into the bio business. Based on the reports, many of the new hires were recruited from Samsung Biologics.
