Read more Société Générale stories on Newserhttp://www.newser.com/taggrid/21552/societe-generale.html2009 - Newseren-usNewser Feed GeneratorTue, 24 Nov 2009 10:07:51 CSThttp://www.newser.com/story/37045/opec-cuts-oil-production.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThe international oil cartel OPEC announced today it's reducing production by more than half a million barrels a day, the Financial Times reports. The decision by the cartel, which controls 40% of world oil production, stunned most analysts. The move comes as oil prices, after spiking to an all-time high...http://www.newser.com/story/37045/opec-cuts-oil-production.html?utm_source=syn&utm_medium=rss&utm_campaign=tagWed, 10 Sep 2008 2:23:54 CDThttp://www.newser.com/story/24939/socgen-ceo-resigns-over-rogue-trader.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThe CEO of Société Générale will step down, at last bowing to pressure in the wake of the $7.8 billion rogue trading scandal. Although investors and politicians—including French President Nicolas Sarkozy—had demanded Daniel Bouton's resignation immediately after the revelation of Jérôme Kerviel's massive fraud, the bank had...http://www.newser.com/story/24939/socgen-ceo-resigns-over-rogue-trader.html?utm_source=syn&utm_medium=rss&utm_campaign=tagFri, 18 Apr 2008 4:59:28 CDThttp://www.newser.com/story/19646/socgen-posts-record-49b-q4-loss.html?utm_source=syn&utm_medium=rss&utm_campaign=tagSociete Generale's annual profits plummeted a whopping 82% after a record $4.9 billion fourth quarter loss fueled by subprime woes and the actions of rogue trader Jerome Kerviel, reports Bloomberg. France’s second-largest bank today said net income was 947 million euros, compared to 5.22 billion euros in 2006....http://www.newser.com/story/19646/socgen-posts-record-49b-q4-loss.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThu, 21 Feb 2008 9:54:55 CSThttp://www.newser.com/story/19590/socgen-lax-controls-led-to-72b-fraud.html?utm_source=syn&utm_medium=rss&utm_campaign=tagRogue SocGen trader Jerome Kerviel, whose unauthorized deals led to a $7.2 billion loss for the French bank, continued his trading for more than a year after the first warning flag was raised in the department that was supposed to detect risky trading, reports the Wall Street Journal. Kerviel...http://www.newser.com/story/19590/socgen-lax-controls-led-to-72b-fraud.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThu, 21 Feb 2008 7:50:00 CSThttp://www.newser.com/story/19445/credit-suisse-cuts-profits-1b-on-trader-errors.html?utm_source=syn&utm_medium=rss&utm_campaign=tagCredit Suisse share prices plummeted 10% today after the bank announced that some traders had overvalued asset-backed securities, prompting the bank to take a $2.85 billion writedown and drop first-quarter profit projections by $1 billion, Bloomberg reports. Switzerland’s second-largest bank suspended the traders and said it would review 2007...http://www.newser.com/story/19445/credit-suisse-cuts-profits-1b-on-trader-errors.html?utm_source=syn&utm_medium=rss&utm_campaign=tagTue, 19 Feb 2008 6:58:26 CSThttp://www.newser.com/story/19139/lawyer-socgen-condoned-traders-deals.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThe French trader who lost Société Générale $7.2 billion acted with the tacit support of the banking giant's management, which "condoned" his trades, Jérôme Kerviel's lawyer says. The assertion contradicts executives' claims that Kerviel acted alone. "Jérôme is a smart trader, but not smarter than any other guy at...http://www.newser.com/story/19139/lawyer-socgen-condoned-traders-deals.html?utm_source=syn&utm_medium=rss&utm_campaign=tagFri, 15 Feb 2008 11:26:31 CSThttp://www.newser.com/story/18753/socgen-to-raise-8b-with-discount-shares.html?utm_source=syn&utm_medium=rss&utm_campaign=tagSociete Generale, the French bank hit with a $7 billion loss in a massive trading fraud, will replenish its cash reserves through an $8 billion stock offering at a heavily discounted rate, the company said today. Shares will be priced at €45.50, or 39% off the Feb. 8 closing...http://www.newser.com/story/18753/socgen-to-raise-8b-with-discount-shares.html?utm_source=syn&utm_medium=rss&utm_campaign=tagMon, 11 Feb 2008 8:04:00 CSThttp://www.newser.com/story/18625/traders-alleged-accomplice-released.html?utm_source=syn&utm_medium=rss&utm_campaign=tagAuthorities today released a second suspect in the bank fraud case that cost Société Générale a dizzying $7.09 billion, the Wall Street Journal reports. But the suspect’s ex-colleague, Jerome Kerviel, remains jailed, as the bank and French officials insist he acted alone. Still, prosecutors labeled the second man an...http://www.newser.com/story/18625/traders-alleged-accomplice-released.html?utm_source=syn&utm_medium=rss&utm_campaign=tagSat, 09 Feb 2008 13:31:40 CSThttp://www.newser.com/story/18582/socgen-trader-headed-for-jail.html?utm_source=syn&utm_medium=rss&utm_campaign=tagA Paris court ruled today that rogue trader Jérôme Kerviel should be behind bars during the remainder of the investigation into his case, the New York Times reports. Kerviel is suspected of fake trading that cost French bank Société Générale $7 billion. When he heard the ruling, Kerviel looked like...http://www.newser.com/story/18582/socgen-trader-headed-for-jail.html?utm_source=syn&utm_medium=rss&utm_campaign=tagFri, 08 Feb 2008 19:05:50 CST