As Democrats and Republicans haggle over the details of financial reform in the Senate, a new tax law is quietly approaching that will force all overseas banks to reveal the overseas holdings of American account holders.

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The approaching Chinese New Year holiday is the biggest focus in Friday's Chinese newspapers.

BBC: China morning round-up: Lunar New Year

Traditional biomedical literature, as the place to discover the meaning of a new or unexpected finding, is rapidly approaching a Valley of Death .

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According to the New York Times, the worldwide population of hedge funds is approaching 6, 000.

FORBES: Clipped Hedges

And now a new era of agonised decision-making may be approaching, because Brussels has told the Swiss government the EU is no longer interested in pursuing bilateral agreements.

BBC: Sceptical Swiss locked into EU's embrace

The prospect of a transforming new technology is oft accompanied by hyperbole, or grand statements of intent, particularly when investors are approaching the feeding frenzy peak of their ten year love-hate-love tech cycle.

FORBES: Why NFC Alone Won't Change Mobile Payments