Halliburton Posts Loss on Asbestos Charge
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Halliburton Co. (HAL.N: Quote, Profile, Research) , the world&#39;s No. 2 oil field services company, on Tuesday fell to a quarterly loss as $230 million in charges to fund its
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Halliburton Co. on Tuesday said the US Army will withhold payments of 15 percent of future bills, apparently backtracking on an earlier deal.
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The U.S. Army will withhold payment on 15 percent of future invoices of Halliburton Co.'s (HAl.N) logistics deal in Iraq due to an ongoing billing dispute, the company and the U.S. military said on Tuesday.
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Halliburton, the Texas company once  run by Vice President Dick Cheney, has been given more than $10  billion worth of business in Iraq so far despite critical  audits and investigations into its work.
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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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The U.S. Army will withhold payment  on 15 percent of future invoices of Halliburton Co.'s HAL.N  logistics deal in Iraq due to a billing dispute that could cost  the company $60 million a month, the military said on Tuesday.
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Halliburton Co. , the world's second-largest oil services company, said on Monday that second-quarter profit from continuing operations rose 19 percent, topping Wall Street estimates, on strength in international markets and better-than-expected revenue.
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The Pentagon backed off its threat to withold its monthly payment of about $60 million a month from a Halliburton subsidiary, which provides services for troops.
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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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HOUSTON - Oilfield services giant Halliburton Co. on Tuesday swung to a loss in the third quarter ended Sept. 30, hurt by hefty charges from discontinued operations related to the settlement of asbestos and silica claims.
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WASHINGTON : US oil service firm Halliburton has acknowledged that improper payments &quot;may have been made&quot; to Nigerian officials through a consortium of which it was a member.
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Halliburton (HAL), the world&#39;s No. 2 oil field services company, posted a third-quarter net loss Tuesday as it took $230 million in charges to pay for its asbestos liability.
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The nation&#39;s largest defense contractor will take a $110 million charge against its fourth quarter earnings after losing a court bid to salvage at least some of the money it pumped
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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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Troubled engineering giant Halliburton has won a US court order approving the settlement of asbestos claims by the end of the month.
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By Matt Daily HOUSTON  - Halliburton Co. , 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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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.