Markus Karlsson talks with Patrick Legland, the Head of Global Research at Societe General, about the reaction to Standard and Poor's slashing France's triple-A credit rating.
French bank Société Generale has announced it plans to shed 880 jobs nationally and 700 abroad, in cuts targeted at the group's Corporate and Investment banking division.
French banking giant Société Générale announced Tuesday that it was scrapping its 2011 dividend and cutting bonuses, after a tough third quarter owing to a Greek debt write-down. The move saw SocGen’s shares climb 6.1% by 1149 GMT.
Investors alarmed by the eurozone’s economic woes have lashed out at the banking industry amid fears that lenders may be struggling to secure the liquidity needed to run day-to-day operations, let alone boost the bloc’s faltering economies.
How much impact did a Mail on Sunday piece have on Société Générale's share tumble earlier this week? The French press leads on the economic turmoil as French banks feel the heat, slapping a triple zero rating on the credit ratings agencies along the way. That's the focus for Friday, 12th August, 2011.
MEDIAWATCH FRANCE, Thurs. 11/8/2011: Using a fictional series in Le Monde as source material, The Daily Mail caused Société Générale's stocks to plumment yesterday, by claiming that the bank was on the brink of collapse.
Societe Generale shares took a plunge Wednesday as the French banking giant announced it may miss its 2012 earnings target due to its exposure to the Greek debt crisis.
Tom Burges Watson meets Patrick Legland, Head of Research at Société Générale, one of the biggest banks in Europe, to discuss the eurozone crisis amid Greek and Portuguese debt fears.
France’s Société Générale bank is one of the key West bankers according to a report by the anti corruption group ‘Global witness’. Stéphane Marchand, Business Editor and Editor-in-chief of the Paris Tech Review, tells us more about that.
As the full extent of Jerome Kerviel’s losses became clear, Societe Generale officials immediately sought to limit the damage by going to the regulators before the authorities, the bank’s former communications boss tells FRANCE 24.
