US suspends Halliburton decision - Money Train will Continue

The US army has said it has suspended for now a decision to withhold some payments to Halliburton, its biggest contractor in Iraq. The army had earlier said it would be withholding 15% of payments on future bills to Halliburton, once run by US Vice-President Dick Cheney. One of its subsidiaries has featured in auditing disputes with the Pentagon. It allegedly overcharged on contracts to supply accommodation, meals and fuel to troops in Iraq and Kuwait. The US army's Materiel Command had said it was going to withhold 15% of payments on future company invoices after Halliburton's Kellogg, Brown & Root unit became locked in auditing disputes with the US government. Such a decision, it was estimated, could have cost the company $60m a month - although Halliburton had said it would simply pass on the cutback to its suppliers. But within hours, the army said it was suspending the move - at least for now. [more ]