Halliburton Profits Spike on Spinoff of Subsidiary
Thanks in part to executives’ decision to unload the trouble-prone offshoot KBR in April, multinational corporation (and Dick Cheney’s former employer) Halliburton more than doubled its profits during the three-month period ending June 30, according to the BBC.
Wait, before you go…BBC:
Net income for the three months to 30 June rose from $591m a year ago to $1.5bn (£728m), or $1.62 a share.
The figures were lifted by a one-off $933m gain from the spin-off of controversial defence business KBR.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
There are currently no responses to this article.
Be the first to respond.