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Foreign Assets

BUSINESS
December 2, 1986
First City Financial, a financial services firm controlled by the Belzberg family of Canada, had sought majority interests in British Columbia Telephone and Quebec Telephone. "First City proposed to repatriate these Canadian assets at a price which it believed represented their fair value. GTE declined to enter negotiations," a spokesman for First City said.
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BUSINESS
December 20, 2005 | From Reuters
ABN Amro Bank will have to pay an $80-million penalty because it failed to comply with U.S. laws designed to block money laundering, U.S. bank regulators and supervisors said. The Federal Reserve, two state bank supervisory agencies, the Financial Crimes Enforcement Network and the federal Office of Foreign Assets Control said they had found defects in Amsterdam-based ABN Amro's internal controls against money laundering in its New York and Chicago branches.
BUSINESS
September 7, 2000 | Bloomberg News
Telefonos de Mexico, Mexico's largest phone company, said it will spin off its mobile phone unit and most of its international units to form the largest mobile phone operator in Latin America. Telmex shareholders will receive an equal amount of shares in the new company, to be called America Movil, the company said in a press release. America Movil will have 9.9 million clients. The investments the foreign assets require to develop now won't affect the parent company, said Chairman Carlos Slim.
NEWS
June 16, 1988
The Veterans Peace Convoy, rebuffed by federal agents as it tried to carry aid to Nicaragua across the U.S.-Mexican border, turned around and headed for Washington as supporters prepared to challenge the government action in court. Eight activists were briefly detained and four vehicles were impounded earlier in the day as the 37-vehicle caravan with about 30 tons of food, medicine and clothing was stopped at Laredo, Tex., by U.S. Customs officials.
BUSINESS
January 29, 2005 | From Bloomberg News
McDonald's Corp. said fourth-quarter profit more than tripled as costs fell and higher-priced Chicken Selects and salads spurred sales. Net income rose to $397.9 million, or 31 cents a share, from $125.7 million, or 10 cents, a year earlier, when costs to sell the Donatos Pizzeria chain and close Boston Market overseas cut earnings. Sales climbed 10% to $5.01 billion, the Oakbrook, Ill.-based company said.
SPORTS
December 13, 1990 | From Times Wire Services
The Treasury Department said today it has settled a year-old lawsuit filed by Capital Cities/ABC Inc. regarding royalty payments to Cuba in connection with the broadcast of the 1991 Pan American Games. Terms of the settlement allow ABC Sports to make limited payments to Cuba for goods and services provided by Cuban nationals during the broadcast of the games next year. Such payments have been prohibited under a comprehensive U.S. economic embargo against Cuba.
BUSINESS
February 8, 1989 | From Times Wire Services
California has displaced New York as the state with the most multinational manufacturing companies, the New York-based Conference Board said in a report released today. California now has 150 publicly owned manufacturing firms with offices abroad, compared with 130 headquartered in New York state, according to the report by the worldwide organization of corporate executives. The report is based on 1988 corporate data of the foreign operations of 1,700 publicly held manufacturers.
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