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Royal Bank of Scotland
Today it is the largest bank in Scotland, the second largest in the UK and Europe, and the fifth largest in the world by market capitalisation. Its shares have a primary listing on the London Stock Exchange.
The bank's head office is in St Andrew's Square, Edinburgh. It has offices throughout Europe, America and Asia.
History of the Royal Bank of Scotland
Constituents of the Royal Bank of Scotland Group
Other facts£100 banknotes of the Royal Bank of Scotland
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. In his introductory remarks, Dorgan explained that Senate Republicans had blocked any attempts at having a formal bi-partisan hearing, resulting in a separate committee. It has offices throughout Europe, America and Asia. British based Lloyd-Owen has a direct contract with the Iraq government to provide fuel to various parts of the country. The bank's head office is in St Andrew's Square, Edinburgh. Allan Waller testified to specific examples of how KBR officials had conspired in blocking of Lloyd-Owen fuel transports, and using other coersive means against is competitor. Its shares have a primary listing on the London Stock Exchange. The employees who talked to auditors were sent to camps under more fire than other camps, and Anaconda." This report led Dorgan and others to voice considerable outrage.
Today it is the largest bank in Scotland, the second largest in the UK and Europe, and the fifth largest in the world by market capitalisation. "The threat of being sent to a camp under fire was their way of keeping us quiet.
It was the first bank in the world to offer an overdraft facility. Mayberry also claimed would-be whistleblowers were threatened "to be sent to Falluja" and other "places under fire" if they talked to media or governmental oversight officials. It is the only UK bank that still prints a 1 pound note. The recorded interviewer asked, "Are you saying that Halliburton deliberately falsified the number of meals they prepared and then submitted false claims for reimbursement and that they did this to make up for past amounts auditors had disallowed?" Mayberry firmly answered "yes." He said that serving expired food rations was "an everyday occurrence, sometimes every meal." He also explained that Halliburton systematically overcharged for the number of meals as well, saying, "they were charging for 20,000 meals and they were only serving 10,000 meals." Dorgan later commented, "obviously there's no honor here, by a company that would serve outdated food to our troops in Iraq.". The Royal Bank of Scotland, along with Clydesdale Bank and Bank of Scotland, still prints its own banknotes for Scotland. He said that KBR routinely sold expired food rations to the Army. WorldPay - specialised in Internet Business. Mayberry, still in Iraq, testified by video from questions prepared by the committee.
Coutts - UK private bank based in London. She testified to have been given misinformation in answer to her complaints, saying she was "overtly misled.". Ulster Bank - Belfast-based bank with branches throughout Ireland. "Ultimately my main was concern was the repeated insistence RIO contract be awarded to KBR without competitive bidding," Greenhouse said. Direct Line - telephone financial services company. Greenhouse, who provided the bulk of testimony, spoke for several minutes about her involvement in the evaluation and crafting of government Army contracts, and explaining how her superiors undermined and dismissed her concerns of illegal business practices. bank group based in New England. Army Corps of Engineers, Rory Mayberry, former Food Program Manager for Halliburton subsidiary, and Allan Waller, of the Lloyd-Owen International security and operations firm.
Citizens Financial Group - U.S. Among those testifying were Bunny Greenhouse, former Chief Contracting Officer of the U.S. Adam and Company - UK private bank. Among the senators and representatives present at the hearing were Byron Dorgan (presiding), Henry Waxman, Frank Lautenberg, and Mark Dayton. NatWest - UK clearing bank, head office in London. On June 27, 2005, the Democratic Party held a public committee, aired on C-SPAN 3, at which former civilian employees based in or administering operations in Iraq, testified to specific instances of waste, fraud, and other abuses and irregularities by Halliburton and its subsidiary Kellogg, Brown and Root (KBR). Royal Bank of Scotland- Scottish clearing bank, head office in Edinburgh. Vice President Dick Cheney and Halliburton, had led many to speculate with regard to improprieties and profiteering from the war.
2000- acquisition of the National Westminster Bank after hostile takeover battle with the Bank of Scotland. The associations between U.S. 1997- develops internet banking. Allegations of fraud by Halliburton, specifically with regard to its operations in Iraq, have persisted since before the Iraq War. 1997- Registrars department acquired by Australian share registry company Computershare. These steps are not unusual for corporate executives who enter government. 1988- acquisition of Citizens Financial Group of Rhode Island. The officials also said he had promised to donate to charity any after-tax profits he made from exercising his stock options.
1985- Williams and Glyn's bank name merged with the Royal Bank of Scotland. On the question of Cheney's deferred compensation from Halliburton, officials of the Bush-Cheney campaign said that before entering office in 2001, Cheney bought an insurance policy that guaranteed a fixed amount of deferred payments from Halliburton each year for five years so that the payments would not depend on the company's fortunes. 1985- established the Direct Line insurance brand. Dick Cheney also retains 433,000 share-equivalent unexercised stock options at Halliburton. 1980- abortive hostile takeover bid by Hong Kong and Shanghai Banking Corporation fails. Cheney's deferred compensation from Halliburton, which appeared on Cheney's 2001 financial disclosure statement, generated an income between $50,000 to $100,000 for the vice president. 1972- merger with National Commercial Bank of Scotland. presidential election campaign with a severance package worth $20 million.
1920- acquisition of various small English banks to form Williams Deacons Bank,later combined with Glyn Mills & Co. to form Williams and Glyn's Bank. Cheney retired from the company during the 2000 U.S. 1874- first London branch opens. Bill Gertz, defense reporter for The Washington Times, wrote: "Vice President Dick Cheney was chief executive officer of Halliburton from 1995 until 2000, and Democrats repeatedly have tried to link the administration to claims of government favoritism toward the firm." . 1783- first branch in Glasgow opens. In recent years the company has become the center of many controversies involving the 2003 Iraq War and the company's ties to US Vice President Dick Cheney. 1727- founded in Edinburgh by Royal Charter. An audit of KBR by The Pentagon’s Defense Contract Audit Agency (DCAA) found $108 million in "questioned costs" and, as of mid-March 2005, said they still had "major" unresolved issues with Halliburton.
Halliburton is the only company mentioned by terrorist Osama bin Laden in an April 2004 tape where he claims that "this is a war [in Iraq] that is benefiting major companies with billions of dollars.". They are expected to have generated more than $13 billion in sales by the time they start to expire in 2006 but most offer low margins - less than 2% on average in 2003 and just 1.4% this year for the logistics work. Despite cronyism allegations, the company's contracts in Iraq are much less profitable than its core energy business. In addition to troop support, Halliburton also provides air traffic control support; produces 74 million gallons of water a month for consumption, hygiene and laundry; deploys as many as 700 trucks a day to deliver essentials to American forces; and provides firefighter and crash-rescue services, as well as working to restore Iraqi oil infrastructure.
Halliburton's work in Iraq is diverse and complicated. Today KBR employ over 30,000 men and women in Iraq. KBR has contracts in Iraq worth up to $18 billion, including a single no-bid contract known as "Restore Iraqi Oil" (RIO) which has an estimated worth of $7 billion.
Halliburton first tried to find work cementing oil wells in Burkburnett, Texas then moved their business (New Method Oil Well Cementing Company) to the Healdton field near Ardmore, Oklahoma. Erle P. and Mrs. Mr.
Analysts at Deutsche Bank value KBR at up to $2.15 billion, while others believe it could be worth closer to $3 billion by the time management decides what to do with the business in 2005. At a meeting for investors and analysts in August 2004, a plan was outlined to divest the KBR division through a possible sale, spin-off or initial public offering. a year from 2002 through 2004. As a result of the asbestos-related costs, Halliburton lost approximately $900 million U.S.
Asbestos-related litigation from the Kellogg acquisition caused the company to book over $4.0 (billion U.S.) in losses from 2002 through 2004. KBR is a major international construction company, which is a highly volatile undertaking subject to wild fluctuations in revenue and profit. Kellogg division of Dresser (which Dresser had merged with in 1988). With the acquisition of Dresser Industries in 1998, the Kellogg-Brown & Root division (in 2002 renamed to KBR) was formed by merging Halliburton's Brown & Root (acquired 1962) subsidiary and the M.W.
This business continues to be profitable, and the company is a world leader in this industry; Schlumberger is the company's closest competitor. Energy Services, the company's historical bedrock, includes: drilling & formation evaluation, digital & consulting solutions, production volume optimization, and fluid Systems. . The KBR group is a major construction company of mainly refineries, oilfields & pipelines, and chemical plants.
The Energy Services Group provides technical products and services for oil and gas exploration and production. FY 2004) and over 95,000 employees, Halliburton operates in two major business segments. With revenues exceeding $20.46 (billion U.S. Halliburton Energy Services NYSE: HAL is a multinational corporation based in Houston, Texas.
CNN, in a report entitled "US companies are operating in Iran despite sanctions," reported that a Halliburton spokesperson told the news agency that HPS helps Iran build oil rigs in the country's south. As of 2003, Halliburton was still operating in Iran.  . In May 2003, Halliburton revealed in a filing with the Securities and Exchange Commission that its KBR subsidiary had paid a Nigerian official $2.4 million in bribes in order to receive favorable tax treatment.
. In May 2003, Halliburton's role under contract with regard to Iraqi oilfields was expanded to include "operation of facilities and distribution of products". More recently, the subsidiary was awarded a no-bid contract to conduct oil well firefighting in Iraq worth an estimated $1 billion. In April 2002, KBR was awarded a $7 million contract to construct steel holding cells at Camp X-Ray.
In August, 2004, Halliburton paid a $7.5 million fine to settle the issue. Halliburton counters that the practice was approved by its accounting firm, Arthur Andersen, and conforms to generally accepted accounting practices. The Securities and Exchange Commission investigated the same issue. In 2002, Judicial Watch, a public action lawfirm, filed suit on behalf of shareholders against Halliburton, its current and former directors, and its accounting firm, Arthur Andersen LLP and Arthur Andersen Worldwide, for alleged accounting irregularities, said to be profit inflation by accounting for cost overruns as revenue.
We are not performing directly in that country." No legal action has been taken against the company or its officials. No US person is facilitating any transaction. This is a foreign subsidiary and no US person is involved in this. A Halliburton spokesman, responding to inquiries from Dow Jones, said "This is not breaking any laws.
Such behaviour, undertaken while Cheney was CEO of Halliburton, may have violated the Trading with the Enemy Act. The company, HPS, operated "behind an unmarked door on the ninth floor of a new north Tehran tower block." Although HPS was incorporated in the Cayman Islands in 1975 and is "non-American", it shares both the logo and name of Halliburton Energy Services and, according to Dow Jones Newswires offers services from Halliburton units world-wide through its Tehran office. opened an office in Tehran. In 2001 it was reported by The Wall Street Journal that a subsidiary of Halliburton Energy Services called Halliburton Products and Services Ltd.
On 10 April 2001 the Dresser division (excluding the former Kellogg division) entered an agreement to separate itself once again from Halliburton by management purchasing its equity, the new company to be called Dresser Inc. In 1998 Halliburton merged with Dresser Industries, which included Kellogg. In 1995 Dick Cheney became chairman and CEO. peacekeeping forces in Bosnia, Croatia and Hungary with food, laundry, transportation and other lifecycle management services.
In the Balkans conflict in the 1990s, KBR supported U.S. After having pleaded guilty, the company was fined $1.2 million, with another $2.61 million in penalties. In the early 1990s Halliburton was found to be in violation of federal trade barriers in Iraq and Libya, having sold these countries dual-use oil drilling equipment and, through its former subsidiary, Halliburton Logging Services, sending six pulse neutron generators to Libya. In the aftermath of Operation Desert Storm in Kuwait in 1991, Halliburton crews helped bring 320 burning oil wells under control.
1991: workforce - 73,000. 1982: energy industry decline. 1982: workforce - 115,000. 198?: Halliburton Logging Services.
198?: acquisition of Geosource. 1988: acquisition of Geophysical Service Incorporated from Texas Instruments. 1962: acquisition of Brown and Root of Houston, Texas. 1961: headquarters - Dallas, Texas.
1960: name shortened to Halliburton Company. 1957: acquisition of Welex Jet Services of Fort Worth, Texas. 1948: New York Stock Exchange listing. 1924: incorporation.
1921: headquarters - Duncan, Oklahoma. 1920: reorganized - Halliburton Oil Well Cementing Company.