A Grapevine service announcement Pay attention: The Holuhraun eruption is at it again

American Company Buys deCODE

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Published December 11, 2012

The American biopharmaceutical company Amgen has bought deCODE Genetics for $415 million.
In its time, deCODE Genetics was one of Iceland’s hottest rising stars in the financial world. Making headlines for holding a genetic and medical database of thousands of Icelanders, it was the first company to be listed on NASDAQ. Although opening at about $30 per share, it soon plummeted to almost nothing, and declared bankruptcy in November 2009.
Despite this languishing state of affairs, it seems the company was still able to draw the interest of investors:

The biotechnology giant Amgen, seeking to bolster its drug discovery efforts, said Monday that it would pay $415 million to acquire deCODE Genetics, a gene-hunting firm based in Iceland and known for its headline-grabbing discoveries linking genetic variations to disease. The all-cash deal will give Amgen, based in Thousand Oaks, Calif., access to Reykjavik, Iceland-based deCODE’s technology. DeCODE, which is privately held, has had trouble building a sustainable business, and it filed for bankruptcy protection in 2009. It was bought out of bankruptcy in 2010 by Saga Investments, a group led by two venture capital companies, Polaris Venture Partners and Arch Venture Partners.

Björn Zoega, the director of Landspitali national hospital, told RÚV that he believes the buy-out will have a positive effect on Icelandic genetic research in particular, and on medical care as a whole.
Sean Harper, the CMO of Amgen, told reporters that deCODE will continue doing the business it always has been in Iceland, and that contrary to anyone losing their jobs, it is hoped that there will be more hires.



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Union Official Worried About Tourism Industry Workers

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The managing director of one of Iceland’s largest trade unions says they are “extremely worried” about workers in the tourism industry. “We are extremely worried about [workers within] this field,” Drífa Snædal, the Managing Director of the Federation of General and Special Workers in Iceland (SGS), told Vísir. “If Iceland intends to build up the tourism industry, it will have to really clean house.” Drífa says that unions around the country have had to deal with reports of employees filing grievances, mostly about being paid unfairly. “There are two types of groups within the tourism industry,” she said. “Those who

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Faroese Ship Bids Iceland Adieu

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The beleagured Faroese fishing vessel that ordinary Icelanders assisted despite the cold shoulder from government has bid our fair shores farewell. MBL reports that Næraberg departed from Reykjavík harbour at about 6:00 this morning. At the time of this writing, the ship is about halfway to Greenland, presumably to resume fishing mackerel. As reported, the ship was sailing from Greenland when it encountered engine trouble and radioed Iceland for permission to dock in Reykjavík harbour to conduct repairs. However, citing an obscure law about fishing rights, Icelandic authorities initially only allowed permission for the ship to dock – the crew

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Stormy Weather Is Hurricane Cristobal Petering Out

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The high winds and rain Iceland has been experiencing over the past 36 hours or so are the remains of what was Hurricane Cristobal. Iceland’s mercurial weather caught the attention of science buffs overseas, as Discover Magazine reported late last night that the storm formerly known as Hurrican Cristobal was taking “dead aim” at Iceland. Hurricanes are not common to more northern latitudes. In fact, Cristobal had changed into what is known as a “warm seclusion cyclone” by the time it reached Iceland. This kind of cyclone is characterised by a center of warm, wet air surrounded by cooler air.

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Björk’s Biophilia Film To Premiere In Reykjavík This Week

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Björk’s Biophilia tour went on for almost two years, scoring a huge hit with critics and audiences around the world due to it’s innovative, immersive production. After a long process of trying to fund a definitive concert film of the project, it came right down to the wire, with the final show at London’s cavernous Alexandria Palace becoming the subject of Biophilia Live. BAFTA-award winning editor and filmmaker Nick Fenton, speaking of his experience as co-director, said: “We felt like security guards, in a little booth surrounded by screens and talking to sixteen cameramen and women. You couldn’t feel further

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VIDEO: Holuhraun Best Place For An Eruption

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Holuhraun is the best possible location for an eruption, geophysicist Magnús Tumi Guðmundsson has told RÚV. Although the magma flow from Holuhraun is considerable and steady, Magnús Tumi does not feel it qualifies as a large eruption. New data indicates that approximately 250 cubic metres of magma is spewing out of the fissure each second. According to Magnús Tumi, the current Holuhraun eruption is completely different to the Eyjafjallajökull eruption of 2010. Given that the Holuhraun eruption is entirely above ground and a mainly basalt eruption it is producing no disruptive ash. The Eyjafjalljökull eruption on the other hand was

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Holuhraun Still Going Strong, Could Last All Year

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The Holuhraun eruption, which began again yesterday with magma plumes as high as 60 metres, is going strong and might see out the year, reports RÚV. “The eruption is comparable to the one we saw from Krafla [in 1975],” said volcanologist Ármann Höskuldsson. “At first there was just a tiny eruption then the eruptions got gradually larger as time passed. It’s possible that this event will last until the end of the year, possibly into some of next year as well.” Seismic activity continues at Vatnajökull though none topped 4.9 on the Richter scale yesterday, presumably because the eruption has alleviated some

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