This is a familiar pattern. International financial institutions socialise risk and privatise profit, while invoking development rhetoric to justify fossil fuel expansion in the Global South. Similar projects would be politically untenable in the Global North
The public confrontation between senior officials, the establishment of inquiries and the intense public debate surrounding the allegations all indicate that accountability mechanisms, although imperfect, are still functioning
As foreign banks retreat from the continent, local lenders are stepping up to fill the gap
New instruments have been developed to help mobilise financing for projects to mitigate climate change, but measuring their impact remains difficult
A research paper has raised the possibility that banks have been working together to manipulate the London gold fix rate.
The exasperated chief executive of Société Générale, stood in front of investors in New York on Tuesday this week for some "straight talk".
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/ 12 September 2011
Mounting fears over the possibility of a Greek debt default and signs of division within Europe’s policymaking circles sent bank stocks sharply lower.
Alleged rogue trader Jerome Kerviel went on trial on Tuesday, accused of unauthorised deals that cost Société Générale €5-billion.
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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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/ 6 November 2007
Oil leapt more than a barrel to a new record high of ,44 on Tuesday, as a weak dollar and tight fuel stocks prompted buying by speculators. Investors, wary of global equity markets where the full impact of the credit crunch has yet to become clear, see oil as a good bet.