Michael's Feed
Jun 15, 2015

Guesswork, inconsistency nag U.S. shale oil accounting

HOUSTON/NEW YORK (Reuters) – Steep downward revisions to oil and gas reserves at the end of this year are likely to increase scrutiny of how energy companies tally future barrels – a process that has become more opaque with the rise of shale drilling.

The revisions due in December will reflect a deep plunge in crude prices and should not come as a surprise for investors who have been pouring billions of dollars into U.S. oil companies betting that crude prices will recover.

Jun 15, 2015

Analysis – Guesswork, inconsistency nag U.S. shale oil accounting

HOUSTON/NEW YORK (Reuters) – Steep downward revisions to oil and gas reserves at the end of this year are likely to increase scrutiny of how energy companies tally future barrels – a process that has become more opaque with the rise of shale drilling.

The revisions due in December will reflect a deep plunge in crude prices and should not come as a surprise for investors who have been pouring billions of dollars into U.S. oil companies betting that crude prices will recover.

Jun 11, 2015

Insight – Automated lenders threaten to eat banks’ lunch

NEW YORK (Reuters) – When Kevin Pereira needed a loan last year for his shaving gear business, his bank, Wells Fargo, considered his application and turned him down.

    After a Google search, Pereira, 26, found Kabbage, an on-line lender that used high tech tools to evaluate his credit, including analysing his company’s Facebook page and looking for quirks in how he navigated the Kabbage Web site. The lender sifted through his company’s credit card data and its checking account information.

Jun 11, 2015

Insight – Automated lenders threaten to eat banks’ lunch

NEW YORK (Reuters) – When Kevin Pereira needed a loan last year for his shaving gear business, his bank, Wells Fargo, considered his application and turned him down.

    After a Google search, Pereira, 26, found Kabbage, an on-line lender that used high tech tools to evaluate his credit, including analysing his company’s Facebook page and looking for quirks in how he navigated the Kabbage Web site. The lender sifted through his company’s credit card data and its checking account information.

Jun 11, 2015

Automated lenders threaten to eat banks’ lunch

NEW YORK, June 11 (Reuters) – When Kevin Pereira needed a
loan last year for his shaving gear business, his bank, Wells
Fargo, considered his application and turned him down.

After a Google search, Pereira, 26, found Kabbage, an
on-line lender that used high tech tools to evaluate his credit,
including analyzing his company’s Facebook page and looking for
quirks in how he navigated the Kabbage Web site. The lender
sifted through his company’s credit card data and its checking
account information.

Apr 27, 2015

For-profit Corinthian Colleges to shut down remaining campuses

April 26 (Reuters) – For-profit college operator Corinthian
Colleges Inc, said on Sunday it will immediately shut
down all its remaining campuses and cease substantially all
other operations.

The Santa Ana, California-based company had been subject to
multiple federal and state investigations into whether it misled
investors and students about its finances and job placement
rates. Corinthian last year had agreed with the U.S. Department
of Education to either sell or close down its campuses.

Dec 4, 2014

Special Report: Powerful antibiotic for cows often misused by farmers

NEW YORK/ATLANTA (Reuters) – It is one of the most potent antibiotics used by U.S. cattle and dairy farmers, the key component in the top-selling drug line of Zoetis, the world’s largest animal health company.

But the strength of the antibiotic ceftiofur – and the frequency with which it’s being misused on farms across America – has created a threat to human health that may overshadow the drug’s effectiveness, a Reuters examination shows.

Dec 4, 2014

Powerful antibiotic for cows often misused by farmers

NEW YORK/ATLANTA, Dec 3 (Reuters) – It is one of the most
potent antibiotics used by U.S. cattle and dairy farmers, the
key component in the top-selling drug line of Zoetis, the
world’s largest animal health company.

But the strength of the antibiotic ceftiofur – and the
frequency with which it’s being misused on farms across America
- has created a threat to human health that may overshadow the
drug’s effectiveness, a Reuters examination shows.

Nov 17, 2014

Baker Hughes CEO due millions if Halliburton deal closes

HOUSTON, Nov 17 (Reuters) – Martin Craighead, chairman and
chief executive officer of Baker Hughes Inc, stands to
collect millions if Halliburton Co succeeds in its $35
billion takeover and he loses his job, according to regulatory
filings.

Halliburton Chief Executive Officer Dave Lesar will lead the
combined company, which will also retain the Halliburton name.
The deal, announced on Monday, will create an oilfield services
company big enough to compete with larger rival Schlumberger Ltd
.

Sep 15, 2014

FDA has vetted just 7 percent of animal antibiotics for superbug risk

NEW YORK, Sept 15 (Reuters) – Scientists fear the widespread
use of antibiotics on the farm may be a factor in the rise of
“superbugs” – bacteria that grow resistant to drugs, infect
humans and defy conventional medicines.

Amid these concerns, the U.S. Food and Drug Administration
has come under pressure to curb antibiotic use in farm animals.
In 2003, the agency announced plans to evaluate every new animal
drug based on the drug’s potential to create superbugs.