SocGen trader fired for risky bets claims he was made a ‘scapegoat’

A logo outside a Societe Generale SA office building in central Paris, France, on Monday, Feb. 5, 2024.  Bloomberg | Bloomberg | Getty Images A former Societe Generale trader who was fired for unauthorized risky bets has lambasted the French bank for making him a “scapegoat” and failing to take its share of responsibility for … Read more

Wall Street takes bets on which major central bank will blink first

A trader works, as a screen displays a news conference by Federal Reserve Board Chairman Jerome Powell following the Fed rate announcement, on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 31, 2024.  Brendan McDermid | Reuters The Bank of Japan and the Swiss National Bank have emerged … Read more

Societe Generale posts sharp profit drop as net banking income slides

A logo outside a Societe Generale SA bank branch in Paris, France. Bloomberg | Bloomberg | Getty Images Societe Generale on Thursday reported a sharp decline in fourth-quarter net profit on the back of weaker net banking income, but launched a new 280 million euro ($302 million) share buyback program. The French lender posted a … Read more