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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
February 7, 2013 | By Mary Forgione, Los Angeles Times Daily Travel & Deal blogger
Cuba Travel Services , headquartered in Long Beach, is ending its once-a-week charter service from Los Angeles to Havana partly because of U.S. government delays in processing applications for tour operators who take visitors to the island republic. The last flight left Los Angeles on Tuesday and returned from Havana on Wednesday. The company began the charter service in 2000. It blamed the recent action on a projected 40% drop in passengers from Los Angeles International Airport to Cuba this year.
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.
WORLD
May 30, 2003 | From Associated Press
The Bush administration Thursday ordered U.S. banks to freeze the financial assets of an Arab charity suspected of funneling money to the militant Islamic group Hamas. The action against the Al Aqsa Foundation was taken by the Treasury Department's Office of Foreign Assets Control and comes on the same day the British government ordered financial institutions there to freeze the group's assets.
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.
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