societe generale

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Societe Generale's Fraudster Says He's a Scapegoat

Societe Generale's Fraudster Says He's a ScapegoatScapegoat is the wrong descriptorWilliam,Good post. I think scapegoat is the wrong word. Scapegoat implies Mr. Kerviel is being punished for the errors of others. He is being investigated and will likely be punished for what he did. Societe Generale making it easy for...

Tags: Societe Generale

Discussion threads 2008-05-23

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Main movers

Invensys 298.25p (up 17p, 6.04 per cent) First day on FTSE 100. Shire 842.5p (up 45.5p, 5.71 per cent) Upgraded to "buy" from "neutral" at Goldman Sachs. Compass 369.5p (up 11.25p, 3.14 per cent) Societe Generale initiates coverage with "buy" rating. ...

Articles 2008-06-24

Rockefeller & Co. and SG Private Banking Announce Global Alliance. SG Private Banking purchases equity stake in Rockefeller Financial Services

PARIS and NEW YORK, June 17 /PRNewswire/ -- Rockefeller Financial Services, Inc., the parent company of Rockefeller & Co., Inc., a leading global wealth management firm, and SG Private Banking, the global wealth management arm of France's Societe Generale, today announced a global alliance. Under this alliance, Rockefeller...

Articles 2008-06-17

ArcelorMittal's stake in Erdemir now 24.989%

LUXEMBOURG -- Regulatory News: ArcelorMittal announces that following purchases of 11.31% on June 13 it now owns 24.989% of the Turkish steel company Erdemir. The shares were acquired in transactions with Societe Generale, Nextgen Capital Limited and Credit Suisse International. The acquisition price was...

Articles 2008-06-16

US consumer prices surge as energy costs spike

WASHINGTON AFP — US consumer prices jumped by a sharper-than-expected 0.6 percent in May, as energy costs soared, a government report showed Friday. Economists said they were not surprised that energy costs leapt higher, but said the report could cause some angst at the Federal Reserve as it...

Articles 2008-06-13

China Architectural Engineering Appoints New Director

CITIC Capital's Miu Cheung Brings 14 Years' Experience in Investment Banking, Corporate Finance and Direct Investment ZHUHAI, China, & LOS ANGELES -- China Architectural Engineering Inc. CAE (NASDAQ: CAEI), a leader in the design, engineering, fabrication and installation of high-end building envelope systems, today announced that it has...

Articles 2008-06-12

BNY Mellon Asset Servicing Selected as Overseas Custodian of SGAM Fund Management Co's First QDII Fund

SHANGHAI, China, June 10 /PRNewswire-FirstCall/ -- BNY Mellon Asset Servicing, the global leader in securities servicing, has been selected as Overseas Custodian for Fortune SGAM Fund Management Co's first QDII, entitled the CCB Fortune SG Overseas Growth Equity Fund. The Fortune SGAM Fund Management Company is a...

Articles 2008-06-10

Abitex signs letter of agreement to acquire an interest in a uranium deposit in Quebec

VAL-D'OR, QC, June 10 /PRNewswire-FirstCall/ -- Abitex Resources Inc. (TSX-V: ABE) (the "Company"; "ABITEX") is very pleased to announce the signing of a Letter of Agreement with AREVA Resources Canada ("AREVA"), a wholly owned subsidiary of AREVA and SOQUEM INC. ("SOQUEM"), a wholly owned subsidiary of Societe generale de...

Articles 2008-06-10

Abitex Signs Letter of Agreement to Acquire an Interest in a Uranium Deposit in Quebec

VAL-D'OR, Quebec, June 10 /PRNewswire/ -- Abitex Resources Inc. (TSX-V: ABE) (the "Company"; "ABITEX") is pleased to announce the signing of a Letter of Agreement with AREVA Resources Canada ("AREVA"), a wholly-owned subsidiary of AREVA and SOQUEM INC. ("SOQUEM"), a wholly-owned subsidiary of Societe generale de financement du Quebec...

Articles 2008-06-10

Societe Generale boss admits faults in control systems

PARIS AFP — The head of French bank Societe Generale, who faced pressure to resign over a massive rogue trader scandal, admitted in an interview published Tuesday that the bank's internal control systems had faults. Chairman Daniel Bouton, speaking to French Internet site Mediapart, said: "The controls were...

Articles 2008-06-10

A Former SGF's Executive Appointed as Conporec's CFO

The President and Chief Executive Officer of Conporec Inc. ("Conporec" or the "company") (TSX VENTURE: CNX)(ALTERNEXT: ALCNX), Mr. Jean Beaudoin, announces today the appointment of Mr. Michel Doyon, as Executive Vice President and Chief Financial Officer. He will assist Mr. Beaudoin in all the strategic and operational aspects of the...

Articles 2008-06-05

Aguas Tenidas Project Finance Facility Completed

Iberian Minerals Corp. (TSX VENTURE: IZN) ("Iberian") - Iberian is pleased to announce that the USD$210 million Project Finance Facility (the "Facility") for Iberian's Aguas Tenidas Project provided by Investec Bank UK Limited, BNP Paribas and Societe Generale has been entered into. The Facility is comprised of a USD$170 million...

Articles 2008-06-02

Investors heckle SocGen chairman

Business News IN BRIEF *Angry shareholders turned on the chairman of Societe Generale yesterday after it fell victim to the world's biggest rogue trading scandal. The backlash came at an AGM held five months after SocGen unveiled 4.9bn (3.75bn) in trading losses, blamed on unauthorised stock markets...

Articles 2008-05-28

Fitch Downgrades 2 Classes from SGMS NIM 2005-OPT1 Notes

NEW YORK -- Fitch Ratings has downgraded the following two classes of Societe Generale Mortgage Securities SGMS Net Interest Margin NIM notes: SGMS NIM 2005-OPT1 notes: --$1 million Class IN to 'C/DR6' from 'BB'; --$1.5 million Class IIN3 to 'C/DR6' from 'B'. ...

Articles 2008-05-28

EMA Research Looks at Success Factors for IT Governance, Risk and Compliance Management

Study finds IT Service Management best practices enable more effective IT GRC management while enhancing IT's role as a strategic asset to the business BOULDER, Colo., May 28 /PRNewswire/ -- New research from Enterprise Management Associates EMA shows that IT governance, risk and compliance IT GRC management...

Articles 2008-05-28

Shareholders heckle SocGen chiefs over losses at AGM

PARIS AFP — Shareholders heckled and jeered management of French bank Societe Generale at its annual general meeting on Tuesday, taking them to task for the loss of billions blamed on a rogue trader. Chairman Daniel Bouton, who has resisted heavy pressure to resign over the scandal, was...

Articles 2008-05-27

First face-to-face with shareholders for SocGen chiefs

PARIS AFP — Directors at French bank Societe Generale come face-to-face with shareholders on Tuesday for the first time since a rogue trader scandal wiped billions from the bank's balance-sheet. Some 300,000 shareholders are entitled to attend the company's annual general meeting in western Paris's La Defense business...

Articles 2008-05-26

Rogue trader 'did not act alone'

Societe Generale's rogue trader, Jerme Kerviel, is said to have used at least three techniques across more than 1,000 different transactions in his attempt to hide his positions in the $4.9bn (3.9bn) losses discovered earlier this year. The 69-page report into Mr Kerviel's alleged fraud, which was...

Articles 2008-05-25

SocGen trader 'had help to hide positions'

Business News IN BRIEF *Investigators at Societe Generale said they suspect the former futures trader Jerome Kerviel was helped by an assistant to cover up massive trading positions that led to a multibillion-euro loss. They say the French bank's management failures and culture of risk- taking were...

Articles 2008-05-24

Main movers

ACapita 674p (up 14p, 2.12 per cent) Own share buying. AMisys 160.25p (up 0.75p, 0.47 per cent) Societe Generale says 'buy', with 215p target price. AMediterranean Oil & Gas 187.50p (up 16.50p, 9.65 per cent) Positive drilling update. AMano River Resources...

Articles 2008-05-24