US charges 3 Indian-origin ex-executives of health tech start up in $1 bn fraud

Washington: Three Indian-origin ex-executives of a Chicago-based health tech start-up have been charged by the federal authorities for their alleged roles in a fraud scheme which involved falsifying the company’s financial performance to raise nearly $1 billion in debt and private equity. The co-founders of Outcome Health Rishi Shah, 33, and Shradha Aggarwal, 34, and former executive Ashik Desai, 26, are among six people accused of fraud “that targeted the company’s clients, lenders and investors,” the US Department of Justice said on Monday. “Outcome’s former executives and employees allegedly deceived lenders,…

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Chinese fashion group EP Yaying to expand into the US and Australia

Chinese fashion group EP Yaying is planning to expand beyond Asia by launching in the US and Australia by next year. The group is bullish about the increasing popularity of the Chinese culture-inspired fashion, and believes it will resonate with foreign consumers. EP Yaying started as a small garment factory in 1988 and in 2016, it has adopted a dual-brand development strategy to cater to different customer bases. Its EP brand offers contemporary international fashion styles while Yaying focuses on “deep exploration of China’s traditional culture, aesthetics, fashion and craftsmanship…

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Despite calls to start over, US health system covers 90%

America’s much-maligned health care system is covering 9 out of 10 people, a fact that hasn’t stopped the 2020 presidential candidates from refighting battles about how to provide coverage, from Bernie Sanders’ call for replacing private insurance with a government plan to President Donald Trump’s pledge to erase the Affordable Care Act and start over. The politicians are depicting a system in meltdown. The numbers point to a different story, not as dire and more nuanced. Government surveys show that about 90% of the population has coverage , largely preserving gains from…

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US crude oil posts longest losing streak in over 34 years, falling for 10th day

U.S. crude prices fell Friday for a 10th consecutive session, sinking deeper into bear market territory and wiping out the benchmark’s gains for the year. The 10-day decline is the longest losing streak for U.S. crude since mid-1984, according to Refinitiv data. Crude futures fell for a fifth straight week as growing output from key producers and a deteriorating outlook for oil demand deepen a sell-off spurred by October’s broader market plunge. The drop marks a stunning reversal from last month, when oil prices hit nearly four-year highs as the…

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India buys Russian missile system, risking US sanctions

India signed a $5 billion purchase of advanced missile technology from Russia on Friday, a deal seen as New Delhi’s response to China’s growing influence in the Indian Ocean. Russian President Vladimir Putin arrived in New Delhi Thursday to meet Indian Prime Minister Narendra Modi for an annual bilateral summit that’s has focused on energy, security and defense issues. Of particular interest is India’s purchase of the Russian-built S-400 Triumf, a long-range surface-to-air missile system capable of destroying both cruise and ballistic missiles. The order, which has been under discussion since 2015, was finalized on…

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Apple Says US Tariffs on China Would Hit ‘Wide Range’ of Products

A “wide range” of Apple products including the Apple Watch would be affected by proposed US tariffs on Chinese goods, the company told US trade officials, but gave no sign of an impact on its iPhone cash cow. Apple did not disclose specific revenues for most of the affected products, but of those the Apple Watch may be the biggest seller. It brought in about $6.1 billion (roughly Rs. 44,000 crores) in revenue last year, according to an estimate from analyst firm Bernstein. That represents a small portion of Apple’s $229 billion (roughly Rs.…

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Flow of Indian students to US grows at three-year low of 12.3%

A total of 186,267 Indian students were studying in US universities in 2016-17. In 2015-16, the number had grown by 24.9% and in 2014-15 it had jumped by 29.4%. Photo: New Delhi: Indian students’ flow to the US for higher education rose 12.3% in 2016-17, a three-year low, amid concerns over changes in US immigration policy. According to official data released on Monday, a total of 186,267 Indians were studying in the US universities in 2016-17. In 2015-16, the number had grown by 24.9% and in 2014-15 it had jumped by…

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To shed kilos, have salads and more, experts tell us why

We all crave a fit body. And that goal is so deeply ingrained in our minds that we start practising just about any diet that is remotely promising. Salads, in this scenario, seem like an obvious healthy option, be it for mid-day snacking or as complete meals — that’s where we go wrong! The concept of a bowlful of leafy greens seems to be healthy because salads are mostly oil-free, and have no spices, gravy, starch and heavy meats. But hey, that’s the reason why you are losing energy and…

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US doctors reverse brain damage in drowned toddler

Doctors in the US have successfully reversed brain damage in a two-year-old who became unresponsive to all stimuli after a drowning accident. The girl experienced cardiac arrest after a cold water drowning accident in a swimming pool. After resuscitation at Arkansas Children’s Hospital in the US, MRI revealed deep brain injury as well as grey and white matter loss. She had no speech, gait or responsiveness to commands, and was constantly squirming and shaking her head. Since hyperbaric oxygen therapy was not available in the patient’s location, doctors at Louisiana…

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US Cuba tour operators gird for Trump travel crackdown

U.S. tour operators that send Americans to Cuba are banding together to try to limit damage to business from tighter restrictions on travel to the communist-run island expected in September from the Trump administration. U.S. President Donald Trump in June rolled back parts of Barack Obama’s historic opening to Cuba, saying his predecessor negotiated a “terrible and misguided deal.” The revised approach includes stricter enforcement of a longtime ban on Americans going to Cuba as tourists. Among changes are limiting visits to 12 existing categories of non-tourist travel and a ban on the use of…

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