Dakota groups challenge state department impact statement on Tar Sands Aug 9, 2008
Pipeline developer TransCanada, a foreign corporation, intends to pump almost 2. 5 million gallons daily of heavy sour crude oil across the Dakotas at a pressure of 1,440 pounds per square inch. (Devils Lake Daily Journal, ND)
Speedos are a sign of economic trouble Jul 29, 2008
"For all you do, this Bud's for you." And so goes your Bud money out of America and into the pockets of a foreign corporation. Soon you'll be drinking Belgian-owned Budweiser brewed exclusively in Mexico. (Seacoast New Hampshire)
Invitation to re-colonize - Is Ghana for sale? Jul 18, 2008
According to the Federal Communications Commissions (FCC) guidelines on foreign ownership, Section 310(b)(2) of the Act specifically prohibits a foreign corporation from holding a broadcast, common carrier, or aeronautical radio station license ... Section 310(b)(3) of Act limits the holdings of foreign corporation to no more than 20 percent of the stock of a broadcast, common carrier, or aeronautical radio station licensee. (Ghana Web, Ghana)
Sovereign funds the whipping boys in BHP-Rio deal Jun 20, 2008
Welcome to The Sydney Morning Herald. Skip directly to: Search Box, , , Text Version. (Sydney Morning Herald -- Business)
Schumer, McCaskill Offer Bill to Strengthen FARA Jun 13, 2008
this afternoon announced legislation that could dramatically change the lobbying disclosure requirements for foreign corporation clients. LOG IN NOT A SUBSCRIBER. (Roll Call)
$2 billion hidden from taxes May 9, 2008
Yet as a foreign corporation doing work outside the United States, CSA does not pay Social Security and Medicare taxes for these workers. Also, company officials maintain the subsidiary is outside the jurisdiction of U.S. courts, so federal labor rules and anti-discrimination laws don't apply either. (Anchorage Daily News)
Defense industry tax havens under fire May 8, 2008
Yet as a foreign corporation doing work outside the United States, CSA Ltd. does not pay Social Security and Medicare taxes for these workers. Also, company officials maintain the subsidiary is outside the jurisdiction of U.S. courts, so federal labor rules and anti-discrimination laws don't apply either. (MSNBC -- Politics)
Shell firms shielded US contractor from taxes May 4, 2008
"If there is concern about the classification [of workers], as there undoubtedly is, from the company's standpoint they are better off being in a foreign corporation.". Workers classified as self-employed must pay Social Security and Medicare taxes themselves, the equivalent of 15. (Boston Globe)
Missouri Senate stalls money for KC Bombardier plant Apr 20, 2008
"If this bill passes, it would create the largest tax credit program in the state, offered to a foreign corporation at a time when we should be holding tightly to the purse strings of the state budget.". Bombardier is based in Montreal. (Wichita Business Journal, KS)
Freehold Royalty Trust 2007 Income Tax Information for U.S. Investors Mar 8, 2008
Qualified dividend income is defined as dividends received during the taxation year from domestic U.S. corporations and "qualified foreign corporations". The term "qualified foreign corporation" excludes, among other things, a passive foreign investment company ("PFIC") ... As the majority of Freehold's revenue is derived from non-operated royalty interests, Freehold should be considered a PFIC for U.S. tax purposes and therefore would not be a qualified foreign corporation for U.S. federal... (CCNMatthews Press Releases)
Air Force Snub Good for Boeing Mar 7, 2008
The European Aeronautic Defense and Space Corporation and the U.S.-based Northrop Grumman beat out Boeing in the race to supply aerial tankers, making a foreign corporation responsible for a key piece of U.S. military hardware. Related Articles. (Time.com)
Badger Income Fund releases United States tax information Feb 29, 2008
The portion of the trust distributions that is considered a dividend for U.S. income tax purposes is determined based upon the greater of Badger Income Fund's current or accumulated earnings and profits ("E determined in accordance with U.S. income tax principals. With respect to cash distributions declared in 2007 to U.S. individual unitholders, 100 percent should be reported as taxable dividends. As the Badger Income Fund is a qualified foreign corporation the portion of the distributions made... (PR Newswire)
Enerplus announces 2007 year end results and reserves information Feb 28, 2008
QUICK SEARCH BY ORGANIZATION. FREE SUBSCRIPTION SERVICES. (Canada Newswire)
Kuwait Contractor Fights $4.9 Million Ga. Judgment on Jurisdictional Grounds Feb 23, 2008
unless the court seeks to establish a per se rule that government contracting subjects a foreign corporation to general jurisdiction wherever the United States administers the contract. " "There is simply no authority for such a rule, a rule which would result in an unprecedented opening of courthouse doors to tort claims against foreign-based contractors performing U.S. procurement contracts overseas. (Law.com)
N.Y. Judge Applies SOX Protections to Ex-Partner of Global Firm's French Office Feb 12, 2008
"Unlike the plaintiff in Canero, O'Mahony was employed and compensated by a United States subsidiary of a foreign corporation," he said. "O'Mahony worked in the United States from 1984 through 1992 and was compensated by ... the United States subsidiary of Accenture, from 1984 through 2004.". (Law.com)
Move on Rio signals China's iron determination Feb 2, 2008
It is the largest investment by China in a foreign corporation to date and it comes after similar deals last year to acquire stakes in Barclays Bank and Blackstone. The move will give China a blocking stake to use against BHP Billiton, the Anglo Australian miner that is trying to buy Rio to create the world's largest mining group and the second biggest producer of iron ore. (Times Online)
$13 Million in Fees Awarded in Antitrust Case Jan 8, 2008
The litigation spawned several significant rulings including one appeal in which the 3rd U.S. Circuit Court of Appeals upheld Surrick's holding that when a foreign corporation named in an antitrust suit challenges a federal court's personal jurisdiction over it, the court should look to the company's contacts with the United States as a whole, rather than with the specific forum in which the court sits. In his first fee award, Surrick noted that the plaintiffs lawyers had logged nearly 28,000... (Law.com)
The Kennywood Park sale Dec 12, 2007
Seeing the park sold to a foreign corporation, I was upset. It seems that the more time goes by the more family owned businesses are. (Pittsburgh Post-Gazette, PA)
Taxing questions on your investing Oct 28, 2007
To be eligible for this favorable treatment, the dividends must be received from a domestic or a qualified foreign corporation. Certain dividends passed through to investors by regulated investment companies, partnerships or real estate investment trusts (REITs) will also qualify. (Seacoast New Hampshire)
Waterfront plan must navigate election Sep 26, 2007
"I don't see the point of letting a foreign corporation be part of the planning of a community project," he said. He does not fault previous meetings between the cement plant and the steering committee, as property owners and people with interests in the area must be consulted and their concerns considered. (Hillsdale Independent, NY)
Mom in van vs. train crash dies Sep 13, 2007
Joe1 wrote on Sep 11, 2007 9:09 AM:" I think they should build a giant bridge over the crossing at a cost of millions like they did in Portage after a truck got hit by a train. Also, they should build it sub-standard like they did in Portage that way the taxpayers could pay even more for its upkeep and repair. Also, it should be outsourced to a foreign corporation. The person driving the vehicle is not responsible for their own actions. It was the train's fault for inconveniencing them in their... (Munster Times, IN)
99-year no-compete clauses granted foreign investors Sep 7, 2007
But Golden officials, fearing the encroachment of transportation megaprojects, warned that to privatize the Northwest Parkway operations "requires payments to the foreign corporation if certain roads or facilities are built in the area that would compete with the toll road.". "The lease provides that 'the construction of a Competing Transportation Facility' constitutes an action that gives the foreign corporation the right to terminate the lease and seek significant damages from the Highway... (WorldNetDaily)
Airlines To Pay $300 Million Each For Price Fixing Aug 26, 2007
"As a foreign corporation with headquarters outside the United States, BA could have retained highly relevant documents in its foreign offices and refused to cooperate," prosecutors wrote. "It chose, however, to assist the United States early in its investigation in a highly significant and useful way.". (CBS2.com, CA)
Superior Offshore International Reports Second Quarter 2007 Preliminary Results Aug 15, 2007
In late July 2007, the Company determined that it was the tax withholding agent for a vessel owned by a foreign corporation operated in U.S. waters in 2004 and 2005. The charter agreement stipulates that the vessel owner is responsible for payment of taxes. (Primezone Releases)
Enerplus announces 2007 second quarter operating and financial results Aug 2, 2007
The dividends would then become a "non-qualified dividend from a foreign corporation" subject to the normal rates of tax commencing with dividends received after the date of enactment. The proposed bill still requires the approval of the House of Representatives, the Senate and the President prior to it being enacted. (Canada Newswire)
BP argument shows amazing lack of logic Aug 1, 2007
Imported Pollution wrote on Jul 30, 2007 2:15 PM:" Was this editorial written by a BP employee? I can't think of anyone else so supportive of this for-profit corporation, other than, perhaps, its shareholders. It doesn't matter that BP's proposed increase of pollution is within regulatory limits--that doesn't mean that they should automatically get a permit. (Government pollution standards are far to lax anyway.) The people in this region do not want BP to further pollute Lake Michigan, and that... (Northwest Indiana Times)
Rawlings, Mrs. Rawlings, and PV Obeng did they or didnt they Jul 22, 2007
No African is named as a defendant but the details of how a foreign corporation bribes its way at Africas highest levels emerges from the court proceedings and unfortunately some very familiar Ghanaian names are highlighted in uncomplimentary ways as principal players. Here we go. (Ghana Web, Ghana)
First BanCorp Announces Date of Its 2007 Annual Meeting of Stockholders and Deadline for Submitting Stockholder Proposals Jul 14, 2007
In the U.S. Virgin Islands, FirstBank operates First Insurance VI, an insurance agency; First Trade, Inc., a foreign corporation management company; and First Express, a small loan company. First BanCorp's common and preferred shares trade on the New York Stock Exchange under the symbols FBP, FBPPrA, FBPPrB, FBPPrC, FBPPrD and FBPPrE.. (PR Newswire)
Our readers speak Jul 5, 2007
If every Montana resident put in a buck or two, it would help the coalition of cities to raise the bar against a foreign corporation. I have no personal beef with Babcock Infrastructure, but let us be honest they see a honey pot and they aren t about to let it go. (Montana Standard, MT)
Indiana lawmakers at odds over the long-term financial benefits of leasing toll road Jun 28, 2007
The hostility will be there because then it will be more visible that you're contributing to this foreign corporation, he said. But Daniels believes that people will see the benefits of improving roads without tax increases. (San Diego Union-Tribune -- Business)
NTTA felt pressure to skip 121 bid Jun 21, 2007
They just said it should be a foreign corporation, and I can t say that was their words but that was the thought behind it, that they didn t want, in essence, NTTA to do it. All private bidders for the SH 121 contract were foreign corporations. (McKinney Courier-Gazette, TX)
Pan Ameri Energy LLC UK Regulatory Announcement: 3rd Quarter Results May 18, 2007
On July 13, 1995, Resolution No. 10982 of the CNV authorized the short and medium term bond program submitted by the branch in Argentina of the foreign corporation Amoco Argentina Oil Company for a total maximum amount of US$ 200,000,000, nominal value. The bonds are issued as Obligaciones Negociables (negotiable obligations). (BusinessWire)
German steelmaker to build $2.9B plant in U.S. May 11, 2007
By David J. Lynch, USA TODAY One of the largest industrial investments in the USA by a foreign corporation in several years is scheduled to take a major step forward Friday. The board of ThyssenKrupp, meeting in D. (USA Today -- Money)
A private-sector solution for our roads May 2, 2007
"Who would you go to if there was a problem with snow plowing? Now you have a foreign corporation who is trying to make money for their investors and they are operating the turnpike the way they see best, which may not be the best way for the people who use it. As far as operating a government entity, so to speak, we think that they do that pretty well and probably ought to stay in the hands of an agency over which there is some oversight." Oversight and control reflect concerns for others.... (Pennsylvania Northeast Business Journal, PA)
TransAKT Ltd. announces change of independent auditing firm Apr 21, 2007
Taiwan Halee International Co. Ltd. ("HTT") is a wholly owned subsidiary of TransAKT Ltd. The Company trades in the U.S. as an OTCBB foreign corporation listed under the ticker TAKDF.. For further information: James Wu, President, (403) 290-1744; Christian Nielsen, (403) 290-1744. (Canada Newswire)
TransAKT Ltd. announces merger discussions with Chinese Sanyo distributor Apr 16, 2007
Taiwan Halee International Co. Ltd. ("HTT") is a wholly owned subsidiary of TransAKT Ltd. The Company trades in the U.S. as an OTCBB foreign corporation listed under the ticker TAKDF. This press release contains certain forward-looking statements regarding the Company's beliefs about HTT and its sales prospects, and regarding TransAKT's ongoing ability to attract and acquire further complementary businesses. These forward-looking statements involve certain risks and uncertainties that could... (Canada Newswire)
HK bank may take 25% stake in Affin Holdings Apr 14, 2007
While the maximum limit for foreign shareholdings in local banks is 30%, no single foreign corporation can own more than 20. The foreign entity would need the central bank's approval if it wanted to buy a stake larger than 20. (The Star Online, Malaysia -- Business)
MD: Bank of East Asia could take 25% stake in Affin Holdings Apr 13, 2007
While the maximum limit for foreign shareholdings in local banks is 30%, no single foreign corporation can hold a stake of more than a 20. Referring to BEA, Lodin said, "We view their participation (in the group) as being positive and able to add value to the group because they one of the biggest private bank in Hong Kong, and they have a very big branch network in China and other parts of the world. "We hope that Affin Bank can establish its presence in those markets where they are very strong. (The Star Online, Malaysia -- Business)
Widow files lawsuit against Green Tree Servicing Apr 6, 2007
A foreign corporation that does business in Rapid City is being sued by the widow of a man fired in 2005 after the effects of his brain cancer caused him to often be absent from work. Green Tree Servicing is being sued for disability discrimination, violating the Family Medical Leave Act and wrongful discharge. (Rapid City Journal, SD)
Talley is sold to weapons company Apr 4, 2007
Because Talley is a U.S. defense contractor, four government agencies had to sign off on its sale to a foreign corporation: the U.S. Trade Commission and the departments of State, Treasury and Defense. The companies also had to agree to safeguards that prevent the transfer of sensitive technology without government approval. (AZCentral -- Business)
TransAKT LTD. shareholders update Apr 2, 2007
Taiwan Halee International Co. Ltd. ("HTT") is a wholly owned subsidiary of TransAKT Ltd. The Company trades in the U.S. as an OTCBB foreign corporation listing under the ticker TAKDF. Cautionary Note Regarding Forward-Looking Statements This press release contains certain forward-looking statements involving certain risks and uncertainties that could cause actual results to differ, including but not limited to, our limited operating history and history of losses, and our inability to compete... (Canada Newswire)
Canetic Resources Trust Provides 2006 US Tax Information Mar 7, 2007
We have every reason to believe that Canetic dividends should appear as "Qualified Dividends" on Line 1(b) of the 1099-DIV forms received for 2006 since the Trust has undertaken measures to ensure it has been included as a "qualified foreign corporation" on a database established and maintained by several U.S. brokerage firms. Registered unitholders will receive form 1099-DIV directly from Canetic's transfer agent. (PR Newswire)
Letters to the Editor - February 27, 2007 Feb 28, 2007
Not only will Gov. Rick Perry s Trans Texas Corridor eat up vast swaths of privately owned farmland, but the contract to build and run this for-profit toll road was awarded to Centra, which is a foreign corporation owned by King Juan Carlos of Spain. Other roads that Texas has already bought and paid for are now being sold to various corporations to operate as toll roads. (Texarkana Gazette, TX)
NRI taxation may see changes in Budget 08 Feb 22, 2007
The introduction of anti-abuse rules in the domestic law to curb the practice of treaty shopping, controlled foreign corporation regulations, norms on thin capitalisation and so on are likely to be incorporated in the direct tax code. Provisos and explanations in the existing Act are proposed to be done away with. (India Times)
Off the Top of His Head Feb 15, 2007
A whole list of grassroots groups opposed to the Trans-Texas Corridor have sprung up, opposing the taking of nearly a million acres of land for toll roads that would, in effect, be leased long-term to a foreign corporation that would build the roads and then get to keep all profits from them for decades ... Critics of the TTC and other Perry initiatives say their math shows that, were it not for Perrys anti-tax stance, Texas could have funded its highway needs and other responsibilities ... (FWWeekly)
Corus takeover turns India euphoric Feb 1, 2007
And many are asking if, in these heady times, Indian companies will maintain the sobriety needed to manage the difficult and nuanced process of acquiring and digesting a foreign corporation. Outside the board room, at least, sobriety seems in short supply. (International Herald Tribune -- Business)
Canetic Resources Trust releases 2006 US tax reporting information Jan 16, 2007
The portion of Canetic's trust distributions that is considered a dividend for U.S. Federal income tax purposes is determined based upon the greater of Canetic's current or accumulated earnings and profits ("E determined in accordance with U.S. Federal income tax principles. Canetic is currently in the process of calculating its Er U.S. tax law. With respect to cash distributions paid in 2006 to U.S. individual unitholders, the percentage to be reported as a taxable qualified dividend and the... (PR Newswire)
Lendman: Tom Paine's Spirit Jan 7, 2007
O'Grady says nothing about opposition candidate Manuel Rosales, chosen in Washington, getting millions of US-funded covert dollar support, something that never would be tolerated here by a foreign government in a US election or a foreign corporation. She cites the "independent electoral watchdog group known as Sumate" for another phony complaint, again failing to disclose this organization was formed in 2002, is funded by the Bush administration to subvert the democratic process in Venezuela,... (Zmag.org)
[LAW TALK]Your right to relief from government actions Jan 2, 2007
Recently, the most famous examples of a foreign corporation disagreeing with a government disposition and filing an administrative lawsuit are a Government of Singapore Investment Corporation, or GIC, case (mentioned in this column on August 23) and a Microsoft case. In the first case, after purchasing Star Tower a subsidiary of GIC was billed 16. (Korea Herald, Korea)
