Skip to content
Search AI Powered

Latest Stories

Theranos lab director says its technology was a 'failure from the very beginning'

Theranos lab director says its technology was a 'failure from the very beginning'

THE laboratory director of defunct blood-testing startup Theranos has said that the company's technology had failed to perform from the outset, The Times reported.

Kingshuk Das, who joined the group as laboratory director at the end of 2015, told the court during the ongoing Elizabeth Holmes criminal fraud trial how he concluded its proprietary Edison testing devices “were not performing from the very beginning”.


According to Das, all tests conducted on the machines during 2014 and 2015 were voided, but Holmes sought to blame this on an issue of quality control, rather than the machines.

His testimony was reported by The Wall Street Journal, which first began raising questions about the accuracy of Theranos’s technology in 2015.

Theranos, founded in 2003, promised to revolutionise healthcare with technology that it said needed only a few drops of blood from a pinprick on a finger to conduct hundreds of medical tests. It closed in 2018 amid one of the biggest corporate scandals in recent memory.

Holmes, 37, faces a dozen charges of wire fraud and conspiracy to commit wire fraud. She has pleaded not guilty. If convicted, she could face 20 years in jail.

Das testified that at one time during his time at Theranos, his sole responsibility was responding to a 2016 report from federal regulators who identified deficiencies in its labs, the report added.

The trial, which is taking place in San Jose, California, is expected to last until mid-December.

Ramesh “Sunny” Balwani, 56, Holmes’s former boyfriend, who served as president and chief operating officer at Theranos, is also facing the same charges as Holmes and is due to go on trial in the new year. He has also pleaded not guilty.

More For You

Sanjay Bhandari's extradition appeal opens in London
Sanjay Bhandari

Sanjay Bhandari's extradition appeal opens in London

SANJAY BHANDARI, a consultant in the defence sector wanted in India on alleged tax evasion and money-laundering charges, began an appeal in the High Court in London against his extradition order.

The 62-year-old businessman had won permission to appeal against a November 2022 Westminster Magistrates’ Court ruling clearing his extradition earlier this year.

Keep ReadingShow less
Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)
Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)

Murdoch's bid to secure eldest son's control of media empire fails

RUPERT MURDOCH’s attempt to secure control of his media empire for his eldest son, Lachlan, has reportedly failed, according to a US news report on Monday.

The Murdoch family, which oversees influential outlets like Fox News, The Wall Street Journal, and various British and Australian media organisations, has often been compared to the fictional dynasty in the TV series Succession. Like the show, real-life disputes within the Murdoch family have centred on control of the business after Rupert Murdoch’s death.

Keep ReadingShow less
Kamlesh Pattni faces UK sanctions for illicit gold trade
Pattni stands accused of central involvement in the infamous Goldenberg scandal. (Representational image: iStock)

Kamlesh Pattni faces UK sanctions for illicit gold trade

THE UK and US have imposed financial sanctions on Kamlesh Pattni, a British-Kenyan businessman with a controversial financial history. The punitive measures target Pattni and four of his close family members, including his wife and brother-in-law, reported the BBC.

The sanctions, announced by the UK Foreign, Commonwealth and Development Office, will result in the immediate freezing of assets, representing a significant intervention in what officials describe as a complex network of illicit gold trading spanning multiple African nations.

Keep ReadingShow less
Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)
Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)

India appoints Sanjay Malhotra as new central bank governor

INDIA has appointed Sanjay Malhotra, a senior finance ministry bureaucrat, as the new governor of its central bank, the Reserve Bank of India (RBI).

The announcement was made on Monday, a day before the term of outgoing governor Shaktikanta Das was set to expire.

Keep ReadingShow less
The new order includes 10 widebody A350 planes and 90 narrowbody A320 family aircraft.
The new order includes 10 widebody A350 planes and 90 narrowbody A320 family aircraft.

Air India orders 100 more Airbus jets to expand fleet

AIR INDIA has placed an order for 100 more Airbus aircraft to expand its fleet and enhance connectivity, the Tata Group-owned carrier announced on Monday.

The new order includes 10 widebody A350 planes and 90 narrowbody A320 family aircraft. The purchase is in addition to the 470 aircraft Air India ordered last year from Airbus and Boeing, the airline said in a statement.

Keep ReadingShow less