Theranos founder wooed believers in 'parallel universe'Theranos founder Elizabeth Holmes made grand promises -- scoffed at by critics, but believed by her backersSAN JOSé (UNITED STATES) - For critics outside the orbit of fallen US biotech star Elizabeth Holmes, her pledges of a medical revolution reeked of quackery. - 'Parallel universe' -For experts in the biotech field, the starry line-up of backers, including Henry Kissinger and Rupert Murdoch, and devotion to unproven technology was mystifying. As problems mounted with the Theranos testing equipment and staffers began to press her to hold off on launching the machines, the facade began to crack. He eventually left the company, disillusioned and thinking Theranos cared more about public relations than patients. "I really bought into the idea of laboratory testing being done from a very small pinprick sample," he told the court.

Nicaragua's presidential campaign kicks off, with no rivalsNicaragua's long-time President Daniel Ortega will take part in a presidential election with all his main rivals under arrestMANAGUA - Nicaragua's presidential election campaign officially kicks off on Saturday with incumbent Daniel Ortega's main rivals all under arrest. The 75-year-old, in power since 2007, will be seeking a fourth consecutive term in the November 7 vote despite international condemnation of his government's detention of 37 opposition figures since June. Ortega's government has been accused of political persecution for its rounding up of opposition figures in a series of house and night-time raids since June 2, including seven aspiring presidential candidates. Last month, US Secretary of State Antony Blinken said Nicaragua's November election had "lost all credibility" and accused the Ortega regime of "undemocratic, authoritarian actions." Other than the 37 opposition figures, some 100 other Nicaraguans remain imprisoned for their part in anti-government protests in 2018, which were violently put down by the regime.

US have Europe in dire straits in quest to reclaim Ryder CupAmerican Collin Morikawa tees off before an impressive crowd at Whistling Straits in the first session of the 43rd Ryder CupKOHLER (UNITED STATES) - The United States flexed their muscle at wind-whipped Whistling Straits Friday, dominating Europe 6-2 to launch their quest to regain the Ryder Cup. It marked the first time in six Ryder Cup appearances that Northern Ireland star McIlroy lost two matches in a single day. “I love pressure, I think you have to in Ryder Cup situations,” Finau said. But Europe, winners of nine of the last 12 editions of the biennial match play event, face a tall order in trying to claw back in hostile territory. "There's obviously still 20 points to play for," Europe captain Padraig Harrington said.

US power company charged over deadly California forest fireThe Zogg Fire burned 56,000 acres and killed four people after it was sparked by a power line in September 2020LOS ANGELES - A US power company whose cables sparked a devastating California fire that killed four people has been charged with manslaughter, prosecutors said Friday. Prosecutors said the company knew the tree in Shasta County was dangerously close to a powerline and should have removed it three years earlier. PG&E is one of California's biggest power companies, and is responsible for maintaining large swathes of the state's creaking electricity infrastructure. PG&E has already been found guilty of causing the Camp Fire in 2018, the deadliest fire in recent California history. This year the company said it would bury 10,000 miles (16,000 kilometers) of powerlines in an effort to keep them away from vegetation.

(AFP photo)Thailand logged 11,975 Covid-19 cases and 127 fatalities on Saturday, bringing the total to 1.52 million cases and 16,049 fatalities since the start of the third wave, according to the Public Health Ministry. Since the pandemic started early last year, there have been 1,549,285 Covid-19 cases, with 1,408,821 complete recoveries so far. The single-day toll peaked in mid-August, with 312 deaths on Aug 18 and 23,418 cases on Aug 13. The 11,975 new cases comprised 11,956 local infections and 19 imported cases. Thailand ranked 29th globally with 1.54 million cases.

FPT offers pipeline serviceFuel from an oil depot in Ayutthaya can be transported through a pipeline to Lampang under FPT's new service. Fuel Pipeline Transportation Co (FPT), an arm of Bangkok Aviation Fuels Service Plc, has offered to send oil through its pipeline from Ayutthaya to Lampang to replace oil trucks and help reduce carbon dioxide emitted by vehicles during transport. The pipeline, with a carrying capacity of 9 billion litres per year, was developed and operated by Northern Fuel Pipeline Transportation Co (NFPT), a subsidiary of FPT. Many fuel companies are interested in this fuel transport service as an alternative to truck transport, said Mr Charoen. FPT started pipeline service in March 2019 by sending oil from its depot in Bang Pa-in district in Ayutthaya north to the province of Phichit through a 209km pipeline.

Not content with following a routine of setting a growth target and calculating profit, the industrial conglomerate Siam Cement Group (SCG) pays heed to social concerns as part of its sustainable journey. Some SCG products such as paper were used to help hospital personnel cope with high levels of infections, said Mr Roongrote. COMMUNITY SPIRITESG principles play a major role in setting SCG's business direction, said Mr Roongrote. "SCG has businesses in Thailand and other Asean countries, and they bore the brunt of lockdowns," said Mr Roongrote. Marketing via digital platforms and mobile phone apps was another strategy to better serve demand and expand the customer base, said Mr Roongrote.

Beware the risk of a stagflation worldIn the third quarter of this year, the world economy and investment climate began to deteriorate after strong momentum in the first half. This is a signal of stagflation -- the cost of production is trending upward while demand is pressured by negative factors such as the Delta variant and tightened economic policy. The governor of the Bank of Thailand has suggested that the Ministry of Finance borrow an additional one trillion baht to remedy the "income hole" caused by the loss of labour income of about 1.3 trillion baht since last year -- and this may reach 2.6 trillion baht next year. With public debt at 8.8 trillion baht (56% of GDP), our view is that there is still room for borrowing. However, we also believe monetary policy can be of additional help, since there is room for an interest rate cut while inflation is not a risk.

Huawei confirms its concentration on Asia-Pacific marketGlobal tech powerhouse Huawei has affirmed Asia-Pacific is the company's "major area of focus and investment" and Huawei Cloud is now the fastest growing cloud service provider in the region. "We are going to help SMEs in Asia-Pacific use Huawei cloud infrastructure and build prosperity via access to the Huawei cloud ecosystem. We hope Huawei Cloud will become the cloud service provider of choice for governments and enterprises in the region," said Mr Xu. Abel Deng, chief executive of Huawei Technologies Thailand, recently said Thailand is a key growth market for Huawei in the region. Regarding possible restrictions from the US government on Huawei Cloud, Mr Xu said: "We are hearing those rumours.

OIC issues waivers for firms reeling from Covid claimsThe Office of the Insurance Commission (OIC) has issued seven urgent waivers to help sustain insurance companies facing liquidity issues from the surge in Covid claims. As the pandemic situation remains severe, many non-life insurers have suffered higher than expected losses from Covid claims in a short period. The measures include exempting companies from calculating capital for insurance risks from Covid insurance, allowing them to count subordinated loans as Tier 2 capital, and relaxing the minimum Tier 1 capital ratio. The OIC will also allow companies to exclude the provision for adverse deviation in the calculation of their capital reserves. Companies that meet the criteria can file a waiver request with the OIC.

Cops hunt ranger over double killingAn army ranger was on the run after allegedly shooting dead his wife and her mother and wounding his sister-in-law in Songkhla's Sabayoi district. The shooting followed a heated argument, heard by neighbours, at their home in Rai Nua village around 10.22pm on Thursday. Chuthamas's younger sister, Om Sribang, was shot in the right arm and taken to Sabayoi Hospital. Police identified Chuthamas's husband, Pheeraphat Onchart, 37, an army ranger stationed in Yala's Yaha district as the shooter. After abandoning the car he threatened a motorcyclist with an M16 rifle and stole his bike, police said.

Mobile firms brace for stormThe National Broadcasting and Telecommunications Commission (NBTC) has instructed all mobile phone operators to ensure networks stay up as parts of the country brace for heavy rain and possible flash floods. Trairat Viriyasirikul, acting secretary-general of the NBTC, said the office has told all mobile phone operators to be prepared for Strom Dianmu and promptly deal with any service disruptions. The move follows a storm warning from the Meteorological Department, which predicts heavy rain in 44 provinces in the North, Northeast and Central regions until today. The authorities are warning people to brace for runoff and inundation. Prime Minister Prayut Chan-o-cha will inspect the flood situation in Sukhothai tomorrow, said government spokesman Thanakorn Wangboonkongchana.

The previous week, the OIC issued several measures to support insurance companies facing liquidity problems due to the huge increase in claims for Covid insurance. According to the statement from the OIC, Asia Insurance's late reimbursement of compensation is considered a violation or non-compliance with the Commerce Ministry's rules regarding the payment of compensation or the return of insurance premiums by non-life insurance companies. Asia Insurance must increase capital and raise its capital adequacy ratio to meet the levels required by law within 30 days from the date of the order, as well as provide a progress report every seven days. To ensure transparency, Asia Insurance is expected to compile a complete and up-to-date list of existing claims, and accelerate the payment of compensation in accordance with conditions prescribed in the contracts. Its direct insurance claims stood at 721 million baht, with accumulated losses of 285 million and total liabilities of 4.4 billion.

Pushbacks force Pattaya to court domestic touristsChon Buri: Businesses in Pattaya are shifting focus from foreign travellers to local visitors after the government postponed the city's reopening until Nov 1. The reopening plan for five areas -- Bangkok, Chiang Mai, Pattaya, Hua Hin and Phetchaburi -- faced another setback after the Centre for Covid-19 Situation Administration (CCSA) decided to push it back from Oct 1 to Nov 1. Business operators will meet with local tourism authorities to discuss plans to hold safe small-scale events to attract Thai tourists, he said. We are now pinning our hopes on Thai tourists who still visit Pattaya over the weekends in large numbers. Pattaya City mayor, Sonthaya Khunpluem, said that the Pattaya reopening plan has been postponed out of concern that 70% of locals in Pattaya, Sattahip and Bang Lamung districts had only received their first Covid-19 vaccine shot.

BAAC sparks up cannabis farming loan schemeMr Somkiat warned that the cannabis is not for any farmer. "You need to be highly motivated to plant cannabis because it demands close and attentive care," he said. Eligible borrowers for the cannabis loan must be community enterprises, social enterprises or agricultural cooperatives, not individual borrowers. In addition, eligible borrowers have to secure a permit from the Food and Drug Administration to plant cannabis. BAAC estimates 157 community enterprises out of a total of 10,000 nationwide have the potential to do cannabis farming.