Halliburton has agreed to seek no new work in Iran, Bloomberg News reports. The company used an off-shore subsidiary to do business in Iran, which is considered a terrorist state by the U.S. Halliburton made the pledge after New York City's comptroller and steward of its pension fund proposed a shareholder resolution demanding that Halliburton stop doing business in Iran. Halliburton is an oil field-service company and also has large defense contracts in Iraq.

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