Business Briefs – June 17, 2018

Why Many Americans Aren’t Benefiting From Robust U.S. Economy
WASHINGTON (AP) – “The economy,” Federal Reserve Chairman Jerome Powell declared this week, “is doing very well.” And it is. Steady hiring has shrunk unemployment to 3.8 percent — the lowest since the 1960’s. Yet the numbers that collectively sketch a picture of a vibrant economy don’t reflect reality for a range of Americans who still feel far from financially secure even nine years into an economic expansion.

Theranos CEO Elizabeth Holmes Charged with Criminal Fraud
NEW YORK (AP) – Federal prosecutors have indicted Elizabeth Holmes on criminal fraud charges for allegedly defrauding investors, doctors and patients as the head of the once-heralded blood-testing startup Theranos. Holmes, and her chief former operating officer Ramesh Balwani, are charged two counts conspiracy to commit wire fraud and nine counts of wire fraud, the U.S. Attorney’s Office for the Northern District of California said late Friday.