Asbestos claims hand Halliburton a loss
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Halliburton Co., the world&#39;s No. 2 oil field services company, posted a quarterly loss today as gains in its energy business were outweighed by $230 million in charges to fund its asbestos settlement.
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Halliburton unit Kellogg Brown and  Root, the U.S. military's biggest contractor in Iraq, could not  account for over a third of the items it handled in Kuwait  under a work order for the U.S. occupation authority in Iraq,  said an audit released on Thursday.
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A former Halliburton Corp worker sued  the oilfield services company this week to recover overtime  wages he said were illegally withheld from the company's  workers in Iraq.
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James Hardie Industries NV, facing aA$1.2 billion ($880 million) bill to compensate asbestos victims, said Chief Executive Officer Peter Macdonald quit, a month after an inquiry found he misled investors about the costs.
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ABB Ltd., the Swiss-Swedish electrical engineering giant, said Thursday it had lost its bid to have a U.S. appeals court partially review its &#36;1.2 billion asbestos-claims settlement.
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James Hardie Industries NV, Australia&#39;s fourth-biggest building materials maker, agreed to cover an estimated A$1.5 billion ($1.1 billion) shortfall in compensation for sufferers of asbestos diseases.
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ABB Ltd., the Swiss-Swedish electrical engineering giant, said Thursday it had lost its bid to have a U.S. appeals court partially review its $1.2 billion asbestos-claims settlement.
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Halliburton Co. HAL.N, the world's  No. 2 oil field services company, on Tuesday posted a quarterly  loss as gains in its energy business were outweighed by $230  million in charges to fund its asbestos settlement.
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A U.S. district court has approved a  $1.5 billion trust to be set up by two Halliburton Co. HAL.N  units and their insurers to pay asbestos claims, Halliburton  said on Friday.
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Halliburton Co. , the world's largest oilfield-services company, said its DII Industries and Kellogg Brown &amp; Root units exited bankruptcy, formalizing a $4.7 billion settlement of asbestos claims with more than 400,000 people.
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KBR, the government contracting firm formerly under Halliburton, did not keep accurate records of gasoline distribution, put its employees in living spaces that may be larger than warranted and served meals that appeared to cost $4.5 million more than necessary under a contract to perform work in...
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In a departure from normal policy, the Army said yesterday it will not withhold future payments to Halliburton Co., despite audit reports last summer that said the giant logistical contractor had not properly accounted for a wide variety of work in Iraq and Kuwait.
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HOUSTON -- Halliburton Co. said yesterday that it is restructuring its troubled engineering and construction subsidiary, KBR, and would consider selling or spinning it off should the division's stock performance fail to improve once asbestos litigation is resolved.
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The U.S. Army on Tuesday appeared to  reverse a decision to stop paying a portion of Halliburton  Co.'s HAL.N bills in Iraq and gave the company more time to  resolve a billing dispute.
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Halliburton Co. posted a $44 million third-quarter loss Tuesday related to a pending settlement of asbestos claims, but the oil-services giant still beat Wall Street expectations amid record gains in its energy unit.
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Halliburton Co. is gearing up to distribute $2.78 billion in cash and 59.5 million shares to thousands of asbestos and silica claimants, inching closer to leaving those inherited liabilities in the past.
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World No. 2 oil field company said profit squeezed by asbestos settlement, revenue higher on Iraq. HOUSTON  - Halliburton Co.