Theranos, the embattled blood-testing company, said on Monday it has reached an agreement with the Centers for Medicare & Medicaid Services (CMS) to resolve its regulatory issues.

The terms: CMS has reversed its revocation of Theranos's CLIA operating license, though the company maintains that it won't operate or own a lab for at least the next two years, which is in line with its recent business shift to building a device to sell to clinics. Theranos will pay $30,000 to settle its fines.

Why it matters: Following a series of reports by the Wall Street Journal starting in October 2015 that raised questions about the company's technology, Theranos has faced scrutiny from regulators, lost business partners, voided some of its test results, and shut down its clinics in an attempt to retool its business model.

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28 mins ago - World

Jeremy Corbyn suspended by U.K. Labour Party over anti-Semitism report

Photo: Christopher Furlong/Getty Images

The U.K. Labour Party has suspended its former leader, Jeremy Corbyn, after a watchdog report found that the party failed to properly take action against allegations of anti-Semitism during his time in charge.

Why it matters: It represents a strong break by Keir Starmer, Labour's current leader, from the Corbyn era and one of the party's most persistent scandals.

U.S. economy sees record growth in third quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases
  4. Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.