they told us they never collaborated with theranos.d doug matje says, test data he compiled for the food and drug administration was falsified. >> matje: there was so much pressure from above to get good- looking results that are going to be able to pass the f.d.a. guidelines, that people were pressured into making things disappear. >> o'donnell: the bad results. >> matje: the bad results. >> o'donnell: that's deceptive. >> matje: yeah. for sure. >> o'donnell: did you ever go to your boss and say, "this isn't right"? >> matje: absolutely. all the time. but, you know, he was under a lot of pressure from the people above him. and he was trying to do his best to make, to make everyone happy. >> sunny balwani: this invention is going to be way up there, with-- with the discovery of antibiotics. >> o'donnell: day-to-day operations were run by company president sunny balwani. balwani is a millionaire software engineer with no training in the biological sciences, but he did have a powerful connection to elizabeth holmes. sunny balwani was her

. >>> it's the end of the line for theranos they will dissolve as its founder is charged with fraud. >>> toyota recalling more than 1 million cars because of a fire risk. >>> and high stakes trade talks between america and canada picking up today we're live in the nation's capital with what you need to watch on this wednesday, september 5, 2018. "worldwide exchange" begins right now. ♪ >>> hello. good morning good afternoon, good evening welcome from wherever in the world you may be watching. i'm brian sullivan it's a busy wednesday. we not only have a lot of news, we have a lot of market moves for you. today it is a "worldwide exchange." it may be all about the global markets and your money more concern over how a stronger u.s. dollar will impact economies, sending not only futures here lower but other indices as well. we will highlight your one number to pay extra attention to today. that number is 2,050.27. what in the world? what a random number it's not random. that's the stock price number that amazon.com must hit at or stay above to maintain that vaunted and nearly historic $1

. >>> it's important to note that the company theranos is dissolving. theranos allegedly made people believe they could test from a few drops of blood when it couldn't. "the wall street journal" reports in an email to shareholders yesterday, theranos will pay creditors its remaining cash. >>> yesterday timothy piazza's family reached a settlement with the fraternity. he died from hazing due to drinking in 2017. he was heavily intoxicated and fell down a flight of stairs. fraternity members tried to wake him up, but they didn't call 911 until the next day. they can't proceed with claims against individuals involved in their son's death. >>> coming up on the "cbs "morning news,"" new frat house rules. >>> and a job offer. a former cosby show star may soon have a new acting gig after being shamed for working at trader joe's. this is the "cbs morning news." gig after being shamed for working at trader joe's. this is the "cbs morning news." r rheumatologist move to another treatment, ask if xeljanz xr is right for you. xeljanz xr is a once-daily pill for adu

. >> i'm sarah eisner in theranos is set to officially dissolve the company "the closing bell" starts right now. ♪ long way down >>> a very good afternoon to you. welcome to "the closing bell." we'll get to all those stories in a moment. first a check in on markets, the dow down 81 points at the low, flat at the moment the high was up 59 it's been on both sides of the flat line. the nasdaq, however, has gone down sharply >> that's the 1% loser on the day. the biggest drop since back on august 15th as tech ceos appear on capitol hill, which is our top story. twitter ceo jack dorsey appearing right now before the house energy and commerce committee after testifying this morning before the senate intelligence committee cnbc's kacarl quintanilla >> reporter: not long for google but overall some level of understanding and maybe we'll see cooperation between lawmakers and social media executives take jack dorsey, for example, raising the prospect of potentially one daylabeling bots so you know when you're interacting with one on twitter, giving journalists the ability to call out fouls info

. >>> this morning, we're learning the silicon valley blood testing firm theranos is about to shut down. federal prosecutors say that theranos defrauded doctors, patients and investors out of hundreds of millions of dollars. the founder elizabeth holmes and the former coo face fraud charges. the "wall street journal" reports that the company will dissolve and pay back some creditors. after rocketing to a $9 billion valuation reports found that the blood testing device was unreliable and fraudulent. >>> an innovative way to prevent package thefts backfires. >> how these suspects were able to break into a bay area apartment complex. it is 4:42. we'll be right back. treated with patented paintblock technology. paintblock reacts with the water in latex paint to form a micro-barrier against paint bleed, giving you the sharpest lines possible. get professional results with frogtape... no messy lines, no paint bleed. for sharp lines every time, frog it! several packages at a concord apartment complex. the >>> new video out of concord shows when crooks got packages at a concord apartment comple

according to the "wall street journal," theranos will formally dissolve and pay back its creditors. the company once claimed to have invented groundbreaking blood testing technology. it was found to be fraudulent. the founder faces federal charges. she is accused of defrauding doctors, patients and investors out of hundreds of millions of dollars. >>> hackers, venture capitalists, entrepreneurs and tech fans from around the world are get business today in san francisco. the three-day event is techcrunch disrupt sf where dreams may come through for the nearly 500 startups in attendance all looking for investors. it's going to be crowded this week in the city. just take note of that. the event is moved from pier 48 to the moscone center so give yourself extra time today if you are downtown. mass transit might be the way to go. >>> right now we have mass transit delays. still always a great option. right now ace train number one, that is delayed out of pleasanton this morning due to an earlier medical emergency. so it's running about 16 minutes late. ace train number 5 is right on time

federal prosecutors say theranos defrauded doctors, patients and investors out of hundreds of millionsllars. the founder and the former coo face fraud charges. the "wall street journal" reports they will close and pay back creditors. after rocketing to a $9 billion valuation, reports found the device was unreliable and a fraud. >>> time now 5:42. an innovative way to prevent package theft backfires. >> how the suspects were able to break into some kiosks at a bay area apartment complex. fast, reliable internet is crucial. does it every go down? yes. can't do my job. business grinds to a halt. our gig-speed network not only downloads files up to 20 times faster, we go beyond fast with 4g backup for complete reliability. so if the unexpected happens... (snaps fingers) you stay up and running. we lost power... but not to that. i want that. (laughing) for a limited time get fast, reliable internet for a low price. call now. comcast business. beyond fast. shows the moment a pair of kiosk crooks got their hands on several packages at an apartment complex. it's an innovative security idea to

according to the wall street journal -- theranos will formally dissolve.. and pay back its creditors. the company once claimed to have invented groundbreaking blood-testing technology. then say knows will dissolve and pay back credit fors. the company claimed to have invented ground breaking blood testing technology, then came allegations the device was unreliable. elizabeth holmes is facing fraud charges, accused of defrauding dares and patients anstors ouof llof dollars. >>> a ruling by federal appeals court could affect efforts the control homelessness. the 9th sixty court of appeals determined that governments can not make it a crime to sleep on public streets or sidewalks when no homeless shelters are available, based on a case in boy see but could affect other cities. san francisco is looking in to its ordinances to see if the city could be affected. >>> in the past hour, president trump said bob wood ward's new book about the administration is quote a work of fiction. >> the book is fiction. i heard somewhere where they said the assassination of pres

the high-profile silicon valley start-up, "theranos", is dissolving >>> a meteoric rise and a devastating fall. the high profile silicon valley startup is dissolving this week. founder elizabeth holmes became a media star with her claim that with a single drop of blood, she could detect many diseases. a series of articles by the "wall street journal" exposed the company as being built on a lie because the technology never existed. holmes faces fraud charges and the board of directors is closing the company. shareholders will get nothing. >>> how about this, anoth burnet home in the east bay just hit the market. it's a manufactured home in oakland's rancho antonio neighborhood. how much? you see a little charred there. $350,000 bucks. according to zillow the home is ready for demolition and rebuild. zillow predicts neighborhood home values will increase more than 7% next year. a house three doors down has an estimated value of about 1.3 million bucks. >>> nike is releasing its first commercial with colin kaepernick. >> believe in something even if it means sacrificing everything. >> the tw

and, i mean, look, theranos was one of silicon valley's unicorns.ed to the female steve jobs. there black turtleneck, she was likened to the female stevejobs. there was a lot of enthusiasm when it comes to this company and many people thought this company and many people thought this is just indicative of what happens in silicon valley. there's a lot of hype but often times, a lot of these companies get valued at so much because investors want someplace to put their money, predicted interest rates, and as a result, they maybe don't do their due diligence with these companies. i think that's what a lot of people are saying, that's the lesson to ta ke are saying, that's the lesson to take away from this saga. kim, thanks very much. the pound jumped today on reports that britain and germany are ready to drop key brexit demands. bloomberg news is reporting that both sides are prepared to forego ironing out some details on the future relationship, in order to get a deal done. here's andrew walker. they say, and this is all based on anonymous officials th

how these two managed to beat a based blood-testing firm 'theranos will soon cease to exist. >>> tonight, we are learning silicone base firm tharamous will desolve and payback creditors. it comes after criminal charges were filed against the company's founder. holmes. alleging that they defrauded doctors, patients and investors out of hundreds of millions. the company claims to have invented ground breaking blood technology. reporting found that the twice was unreliable and a fraud. the executives will face a criminal trial. >>> meantime, gwyneth paltrow company will settle a false advertising suit for $145,000. prosecutors in 9 bay area counties alleged that 3 of the female sexual health products were misleading and medically unsupportive. a cure all for female health and hormonal issues. >>> a democrat that wanted a in- in-out boycott tells it is over. i put one tweet out at 10:30 at night and it turns into a whole thing. we raised so much money in small donations, one tweet, how boycott. he targeted the company after it was revealed last week that the chain donated $25,000 to the cali

. >>> welcome back blood testing firm theranos is dissolving, but that's not the final chapter in thery the founder, elizabeth hopes and another former executive await a criminal trial they're accused of defrauding invets i investors out of hundreds of millions of dollars. if found guilty they face up to 20 years in prison a handful of staff remain. taylor said they reached out to more than 80 potential buyers. big-name investors lost about $1 billion. finger stick blood tests began as holmes became a celebrity and then it was said that the drug tests were unreliable. most of the tests were performed with commercial analyzers that were purchased from other companies. the liquidation process is expected to take 6 to 12 months. so many questions around this. the great book about this "bad blood" reporting on this and digging through the details. without john kerry, who wrote the book, i'm not sure they would have been caught before the real reporting, this was an instance where the reporting not the government or somebody else -- >> where were they headed, theranos >> where were they he

the invention was backed by hundreds of millions of dollars from a-list investors, until the theranostory unraveled. >> this is one of the most epic failures in corporate governance in the annals of american capitalism. ( ticking ) >> dr. ann mckee has spent 14 years looking at the brains of hundreds of athletes who suffered concussions. earlie

theranos will formally dissolve. reported the silicon valley company will seek to pay unsecured creditors its remaining cash in the coming months. this means more bad blood for founder elizabeth holmes who promised to revolutionize blood testing but was criminally charged in june with defrauding along with the company's former president. both have denied the charges. coming up, the technology matching cancer patients with treatments specifically tailored to them. it has the backing of a hong kong billionaire to take it global. this is bloomberg. ♪ emily: a new global platform is aiming to revamp cancer care. driver was developed by a harvard-trained oncologist. the ceo and cofounder told our chief asia correspondent the startup launched in china with a number of cancer patients is exploding. >> we did not pick the timing. we have been in china over three years. we have endeavored to build our platform as a global one. >> in a nutshell, how does it work and what need is it filling? >> the problem driver has is the fol

theranos shareholders received an e-mail about the closing.-based company started in 2014 with a promise to make blood tests easier and cheaper. months ago the ceo, elizabeth holmes and a colleague were indicted on federal wire fraud charges. the couple knowingly lied about the accuracy and reliability of their products. >>> tesla is being sued by a woman who said she had her model s in autopilot mode when she rear-ended a stopped fire truck at 60 miles an hour. she had minor injuries. the crash happened in utah in may. the lawsuit alleges that tesla salespeople told her autopilot would ensure the car stopped on its own if something was in its path. >>> this weekend will mark the official end to demolition of the old eastern span of the bay bridge. a pair of foundations from the original 1936 foundations will be imploded on saturday around noon. yes. a little bit of that. this is what it has look and sounded like during previous implosions. we thought caltrans had everything done last november after crews imploded a total of 18 foundations aft

. >>> it's the end of the line for theranos they will dissolve as its founder is charged with fraud.g more than 1 million cars because of a fire risk. >>> and high stakes trade talks between america and canada picking up today we're live in the nation's capital with what you need to watch on this wednesday, september 5,

losing up to $1 billion in theranos.the company were indicted with charges they were defrauding not just investors but patients, doctors, anyone who participated in the system. they have since settled the s.e.c. allegations but elizabeth holmes may face up to two decades in prison. >> also ayman is here that may want to weigh in on the nike story. >> talking about shares of nike, but also i saw yesterday some of nike's global sales, 65% of it, are outside north america and this is not an issue followed closely outside the u.s., or is it? what's the perspective from london on that? >> interesting, in fact, and somewhat ironically it is very closely followed. perhaps not so much the nfl, but you had former iranian president ahmadinejad weighing in on the conversation as well. people are watching all over the globe and seem to have a view, but as you say, a big part of their sales come from the international market and also from the younger consumer as well who don't seem to be too affected by the story. >> interesting to s

liz: you are talking about theranos. >> obviously there are issues with the viability of this companyesn't mean it's a crooked company. this is a legitimate product. liz: to jonas's point, the debt swamps shareholder value. final point, you got 10 seconds. >> the books exist because of elon's personality. either he's the greatest mind of the generation or the greatest fraud. hopefully it works out for the best. liz: i meant shareholder equity value. you have been great. have a great weekend. we'll be right back. stay right there. people tell me all the time i have the craziest job, the riskiest job. the consequences underwater can escalate quickly. the next thing i know, she swam off with the camera. it's like, hey, thats mine! i want to keep doing what i love. that's the retirement plan. with my annuity i know there's a guarantee. annuities can provide protected income for life. learn more at retireyourrisk.org annuities can provide protected income for life. (nicki palmer) being a verizon engineer is about doing things right. and there's no shortcut to the right way. so when we roll

theranos when out of business. uber had to move is self driving cars windsor was killed. is the speed of business too fast for economic security? gov. ducey: the first responsibility of the governor is to protect public safety and while we do have regulations, that is to protect public health and public safety. we lose 800 arizonans a year on our highways due to human error. andnt to open up innovation bring google and wayne mo and gm and toyota. what happened is tragic. i want to see 38,000 people who die in avoidable accident across the united states, i want to see that problem solved. bad actors, when companies misbehave, there will be accountability and there will be accountability. we do not want the attorney general to get involved and refunds were conducted. as you said, the companies out of business. we still want to be a welcoming place for public health and public safety. ms. rivera: mr. garcia, 30 seconds please. mr. garcia: another broken promise from dove ducey. he says public safety is in one and yet has put arizona at risk. and he is setting us up for anoth

paul: but the former ceo of theranos, elizabeth holmes, she's been indicted for fraud, and she was onlyif he succeeded, would get banned for life. >> this is the opening bit of negotiation, and there will be a settlement. they're not going to put him out of business. at the least, perhaps, tesla ought to think about setting up a succession strategy in case for some reason elon musk gets set aside in the future. paul: tesla still has a market cap of about, i think -- the even a after the big 14% plunge on friday, it's still $45 billion which, believe it or not, is bigger than ford's which sells a lot fewer cars. yet they are bleeding cash, they've got a lot of bonds coming due in the next six months, and we don't know if their production capacity can meet the profits they need and the cash flow to make those payments. >> right. and, by the way, to mary's point, i'm not suggesting there shouldn't be a penalty for musk, i just think this is a little extreme coming from the sec. and, you know, this is a really important point that dan just made though. how did we even get to this point? you

. -- four theranos. a welcoming place to medical innovations in the state of arizona. >> mr.arcia, 30 seconds. >> another broken promise on behalf of doug ducey. he has put arizona at risk. he is setting arizona up for another broken promise. he is talking about 2020 in the future budget and infrastructure and public safety. he would lowerd income taxes down. those two things don't add up. there will be a broken promise. he says what he needs to to be elected. >> we are on the home stretch. any overages will come out of the closing statements. >> we've talked a little bit about press -- transportation. many counties, especially those in southern arizona, are struggling with road repair. would you support an increase in the state sales tax on gas to help pay for road reconstruction and maintenance? >> let me indicate how important roads are. in many of our towns in arizona, the road in is not only a pathway, it is the lifeline to economic development. highway funds have been stripped for several years now. they're starting to return but there's much more work to be done. as fo

the wall street journal reports that theranos will try to pay creditors cash in the coming months.een charged with lying about technology about how to raise more than $700 million. the world inc. president says -- trying to make it easier for companies to gain access to private come -- private capital. he talked about the new role in an interview. >> to make a system work for everybody on the planet. whether you like this or not, we have to do that. there will be no way to buffer yourself from 2 billion people areng in africa i 2050 who going to have aspirations that are every bit as high as americans. so we have no choice but to make this system work for everybody. emma: you can catch the full interview tonight on the david rubenstein show. that is the bloomberg business flash. david w.: it is that time of year when students head back to the classroom and this week we do ourting the books to own homework on different aspects of education and what can be done to improve it. yesterday, our focus was on charter schools. friday, we talk about education technology with the ceo of pears

. >>> blood testing firm theranos is in its final days.reditors. we'll have news updates throughout the day on your favorite platforms, including our website, kpix.com >>> good morning. 7:57. we are tracking an accident that has lane blocked northbound 880. this is right near alvarado niles. it's causing a backup. we have speeds in the red. 29 minutes heading northbound from decoto to 238. so this crash is blocking two lanes in union city. we are seeing delays in both directions. give yourself some extra time. speed limit through that stretch about 10 miles per hour. and heading in through oakland another 35 minutes from 238 to the maze. >>> there's a little bit of a break in the cloud coverage across san jose right now. but at sfo, that's not the case. it is cloudy and gray and gloomy there. so low cloud ceiling as airport is causing a few delays. you can see it right there. yeah. planes having trouble getting into town. 56 degrees in san francisco. san jose at 59. here's a look at what's to come. this afternoon, temperatures inland mainl

function as ceo at martha stewart, it was her alleged insider training then you see elizabeth holmes at theranosid settle the s.e.c. complaint but there were still criminal charges that came in afterwards so it can go in any number of directions i would by no means rule that possibility out. >> though it could still be a settlement that's certainly a possibility isn't it >> there could certainly still be a settlement but i wouldn't expect one in the imminent future if they turn down what looks like a very reasonable deal it looks like s.e.c. is really trying to not destroy the company. to their credit. >> as we reported, there was an expectation they would also charge the company and they did not. it would not have been a violation but they were expected to come and they didn't. that was a surprise. >> yes, i was a little surprised by that, too they typically do do both. i think part of that may be that the directors themselves according to the complaint were totefully the dark here. i mean, he did all of this just freelancing which, by the way, again, i've heard from some directors, it would no

. >> i'm sarah eisner in theranos is set to officially dissolve the company "the

according to "the wall street journal," all coming after prosecutors filed criminal charges against theranosve alleging they did heud from aed doctors patients investors, of millions of dollars. >> speaking of millions geography bezos wife making first political contribution 10 million dollars to super pac to help military veterans get elected to congress. the funds only a year old affects veterans for house seats both parties, he shared building a cross partisan coalition of house members with the other party imagine that. >> finally a american twiflt on old dick tracy wrist radio a company released a smartphone you wear on wrist plays music videos you can pay for purchases with it, hopes to launch phone by the end of the year the price as much as 1,000 dollars. but it is smaller than iphone x there you go. >> all right. thank you so much. >> coming up nike polarizing decision how nfl is responding, after company chose colin kaepernick as new face of ad campaign the prime minister live from economy to immigration, what is happening in italy how it looks like the u.s. in terms of economic po