The exasperated chief executive of Société Générale, stood in front of investors in New York on Tuesday this week for some "straight talk".
A piecemeal ban on short-selling of financial stocks in Europe sparked a rush of alternative proposals from countries and regulators.
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/ 5 February 2008
Société Générale was braced for fresh criticism from France’s top central banker on Tuesday as the man the bank blames for its record trading losses spoke out against his former employer. Jerome Kerviel (31) is under police investigation and said that he would not be turned into a ”scapegoat”.
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/ 24 January 2008
The admission by French bank Société Générale on Thursday that a single trader had defrauded it of €4,9-billion ($7,15-billion) is just the latest example of how a rogue operator can blow a huge chunk of a company’s assets sky high. What rogue bankers have in common is that they are experts in making money.
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/ 24 January 2008
French bank Société Générale (SocGen) disclosed one of the biggest alleged frauds in financial history on Thursday, adding to a wave of gloom surrounding world markets battered by credit market losses. SocGen, France’s second-biggest listed bank, said it had uncovered an ”exceptional fraud” by one of its traders. It said this would cost the group â,¬4,9-billion.
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/ 16 September 2007
Troubled British bank Northern Rock faced break-up rumours on Sunday as it sought to reassure panicking customers and investors following an emergency bail-out by the Bank of England. Worried customers besieged Northern Rock on Friday and Saturday to withdraw their savings — despite assurances that it would not fall victim to the global credit squeeze.
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/ 4 September 2007
Gaz de France and Suez on Monday agreed to create the world’s third-largest listed power and gas company after President Nicolas Sarkozy stepped in to prevent the 18-month old deal from collapsing. The politically charged ”merger of equals”, delayed by disputes over valuation and control, will be on the basis of 21 Gaz de France shares for 22 Suez shares.
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/ 3 September 2007
Gaz de France and Suez on Monday cleared the way to the creation of Europe’s third-largest power company after their boards approved the revised terms of a politically charged merger plan. The companies’ boards met late on Sunday to approve the deal, hammered out in government offices over the weekend.