Business

Theranos founder Holmes, former president indicted for fraud

1 hour ago DieselGasoil Comments Off on Theranos founder Holmes, former president indicted for fraud
(Reuters) – Theranos Inc founder Elizabeth Holmes and the embattled blood-testing company’s former president were indicted on charges that they engaged in schemes to defraud investors, doctors and patients, the U.S. Justice Department announced on Friday. The charges against Holmes, 34, and Ramesh “Sunny” Balwani, 53, were announced shortly after the privately held company said Read More

World running out of sand, making it the black market’s hot commodity

8 hours ago DieselGasoil Comments Off on World running out of sand, making it the black market’s hot commodity
A global shortage of sand is prompting black-market gangs to steal large amounts from rivers and beaches. Scientists are warning that the global supply of sand is slipping through our fingers. Statistics show that worldwide, we go through 50 billion tons of sand every year – twice the amount produced by every river in the Read More

India to tax 30 American products in ‘equivalent’ retaliation for US tariffs hike

12 hours ago DieselGasoil Comments Off on India to tax 30 American products in ‘equivalent’ retaliation for US tariffs hike
India will suspend trade concessions and raise import duties on 30 products from the United States by up to 50 percent, in a mirror response to Washington’s impetuous move to impose tariffs on steel and aluminum imports. New Delhi has drawn up a list of 30 American products it now wants to target with increased Read More

Russia and Saudi Arabia will save the day if OPEC deal falls apart

22 hours ago DieselGasoil Comments Off on Russia and Saudi Arabia will save the day if OPEC deal falls apart
Even if the current OPEC/NOPEC oil production cut deal goes to pieces, Saudi Arabia and Russia will be willing to go it alone. The two largest oil producers in the agreement said that on Thursday ahead of the much-talked-about OPEC meeting later this month, suggesting that some kind of market-managing efforts may remain in place, Read More

International fund managers turn to financials, tech as trade worries rise

1 day ago DieselGasoil Comments Off on International fund managers turn to financials, tech as trade worries rise
NEW YORK (Reuters) – The rising tensions over global trade policy are prompting some top-performing international fund managers to look for the companies that can emerge as winners. FILE PHOTO: A container truck moves past containers at the Yangshan Deep Water Port in Shanghai, China April 24, 2018. REUTERS/Aly Song/File Photo Fund managers from firms Read More

New Zealand to tax tourists to fund strained infrastructure

1 day ago DieselGasoil Comments Off on New Zealand to tax tourists to fund strained infrastructure
The government of New Zealand is planning to introduce a tax on most international travelers to reduce the strain on its booming tourist sector, as well as to support infrastructure. The ministry of tourism will start collecting from visitors payment of NZ$35 (US$25) by the middle of next year. The new levy is expected to Read More

Russia dumps half of its US Treasury bonds

1 day ago DieselGasoil Comments Off on Russia dumps half of its US Treasury bonds
Russia has held a major selloff of US Treasury bonds, dumping some $47bn-worth of papers and momentarily dropping six places on a list of major foreign holders of US securities, recently released statistics for April have shown. In just one month, Russia proceeded to sell $47.4 billion out of the $96.1 billion the country had Read More

Founder of ‘revolutionary’ blood-testing startup Theranos charged with fraud

2 days ago DieselGasoil Comments Off on Founder of ‘revolutionary’ blood-testing startup Theranos charged with fraud
Elizabeth Holmes, founder and CEO of the blood-testing Health technology company Theranos, and her business partner, have been indicted on charges of wire fraud and of defrauding investors, patients and doctors. Holmes and former Theranos COO Ramesh “Sunny” Balwani were charged with two counts of conspiracy to commit wire fraud and nine counts of wire Read More

Wall Street ends high-volume session lower on trade jitters

2 days ago DieselGasoil Comments Off on Wall Street ends high-volume session lower on trade jitters
NEW YORK (Reuters) – Wall Street stocks ended lower on Friday, capping a day of heavy trading with investors mostly pulling back from initial concerns over an escalating trade dispute between the United States and China. U.S. President Donald Trump unveiled an initial list of strategically important goods that would be subject to a 25 Read More