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EU to hit banks with huge fines over rate-rigging: Report

Last Updated: Wednesday, November 06, 2013, 09:38

The European Union is set to impose multibillion-euro fines on banks alleged to have manipulated key interest rate benchmarks Euribor and Yen Libor, the Financial Times reported on its website Tuesday.

‘Standard Chartered, HSBC among bidders for SocGen Asia private bank’

Last Updated: Thursday, October 03, 2013, 12:36

SocGen, France's second-largest bank by market capitalisation, is selling the unit as part of wider restructuring to cut costs and boost profits, Reuters previously reported. Its 15-year foothold in Asia makes it an attractive buy, sources said.

Seven foreign banks given approval to open branches in 2012

Last Updated: Wednesday, August 22, 2012, 20:11

BNP Paribas, Societe Generale and Standard Chartered are among the seven foreign banks which have been given approval to open new branches in the country in 2012 till mid-August, the government said Wednesday.

RBS, Societe Generale may cut over 11,500 jobs

Last Updated: Thursday, January 05, 2012, 17:00

More than 11,500 banking jobs could be axed globally as a result of separate restructuring initiatives being undertaken by two European banks, RBS and Societe Generale, media reports have said.

Moody's downgrades three French banks

Last Updated: Friday, December 09, 2011, 12:38

Ratings agency Moody's downgraded the debt of BNP Paribas, Societe Generale, and Credit Agricole on Friday, saying their creditworthiness was being hurt by the fragile operating environment for European banks.

BNP, Socgen deny reported plan to raise $9.4 bn?

Last Updated: Monday, October 10, 2011, 09:26

Top French banks BNP Paribas (BNPP.PA) and Societe Generale denied a report that they could seek to raise a combined 11 billion euros ($14.8 billion) as part of a broader European bank recapitalization plan.

France may bailout BNP Paribas, Societe Generale and Credit Agricole banks

Last Updated: Monday, September 26, 2011, 22:03

Investors and analysts who think a government bailout for the troubled French banking sector is increasingly likely are focusing on what form any aid could take, even as banks continue to deny they need state help.

France denies 10-15 bn euro bailout for major banks

Last Updated: Sunday, September 25, 2011, 21:32

France is planning a 10-15 billion euro recapitalisation plan for five top banks struggling with the debt crisis, a report said today, sparking a formal denial from the finance ministry.

Jury awards Gundlach $66.7 mn in TCW battle

Last Updated: Saturday, September 17, 2011, 13:21

Star bond investor Jeffrey Gundlach was awarded USD 66.7 million by a jury over his messy divorce from money management firm Trust Company of the West, in one of the ugliest battles ever to grip the multitrillion-dollar bond-fund world.

Don't judge my son yet, father of UBS trader says

Last Updated: Saturday, September 17, 2011, 10:59

The father of a trader accused of losing Swiss banking giant UBS about USD 2 billion in unauthorised deals said on Friday his son 'acted with good intentions' and asked the world not to judge him before trial.

Moody's downgrades Credit Agricole, SocGen ratings by one notch

Last Updated: Wednesday, September 14, 2011, 11:29

Moody's Investors Service on Wednesday downgraded credit ratings on Credit Agricole SA (CASA) and Societe Generale SA by one notch, citing their exposure to the Greek economy.

French banks hit as SocGen ditches assets

Last Updated: Tuesday, September 13, 2011, 08:56

Societe Generale said it would cut costs and sell assets to free up 4 billion euros in fresh capital on Monday, although the surprise move failed to stem a sell-off in French bank shares, driven by fears of a Greek debt default.