Societe Generale chairman to quit

October 6th, 2009 SocGen to raise euro4.8 billion to pay state loansPARIS — Societe Generale SA on Tuesday became the second French bank to say it is launching a rights issue to repay emergency funding from the French government early. SocGen, France's second largest bank, said in a statement it wants to raise euro4.8 billion ($7.02 billion), of which it intends to pay back euro3.4 billion to the government.

September 23rd, 2009 Potash Corp. prices notes offeringSASKATOON, Canada — Potash Corp.

August 29th, 2009 Gallagher explains why he quit OasisLONDON — Oasis guitarist Noel Gallagher claims "verbal and violent intimidation" led to his decision to leave the "Britpop" band. In a letter to fans posted to the band's Web site Saturday, Gallagher also apologizes for having to cancel European concerts.

August 7th, 2009 Banker bonus sparks anger in FrancePARIS — French President Nicolas Sarkozy wants to meet with leaders at BNP Paribas SA, his office said Friday, after a report that the bank had earmarked euro1 billion ($1.44 billion) in extra compensation sparked populist anger. Sarkozy hopes to meet with the bank's leaders Aug.

August 6th, 2009 Top executive at French bank SocGen resignsPARIS — Societe Generale SA says that a top executive whose career was damaged by the French bank's multibillion dollar trading scandal last year has resigned. Jean-Pierre Mustier is the former head of corporate and investment banking and one-time boss of disgraced trader Jerome Kerviel.

August 6th, 2009 Top SocGen executive resignsPARIS — A top executive of Societe Generale SA whose career was damaged by a multibillion dollar trading scandal that rocked the bank has resigned after financial regulators opened an insider trading inquiry against him, the bank said Thursday. The bank said in a statement that both Jean-Pierre Mustier, who most recently headed assets management, and Robert Day, a non-executive director at the bank who is also a target of the probe, reject allegations of insider trading.

August 5th, 2009 Societe Generale 2Q net profit down by halfPARIS — Societe Generale SA said Wednesday its net profit fell 52 percent in the second quarter as the French bank wrote down its derivatives holdings and suffered increased losses on bad loans. France's second largest bank reported net profit of €309 million ($445 million) for the three months ended June 30, down from €644 million a year earlier.

August 4th, 2009 BNP Paribas Q2 net profit up 6.6 percentPARIS — French bank BNP Paribas said Tuesday its net profit rose 6.6 percent in the second quarter as its retail and investment banking divisons succeeded in attracting new business amid the continued global economic downturn. The Paris-based bank reported net profit of euro1.6 billion ($2.3 billion) in the three months ended June 30, up from euro1.5 billion a year earlier.

July 6th, 2009 Societe Generale expects profit in 2nd quarterPARIS — Societe Generale, France's second-largest bank, said Monday that its second quarter net income will be "slightly positive" thanks to its corporate and investment banking units. The bank said its overall net income will be hit by a euro1.3 billion ($1.82 billion) writedown from credit default swaps and debt instruments.

May 8th, 2009 French bank Societe Generale posts 1Q lossPARIS — French bank Societe Generale said Thursday it returned to a loss in the first quarter after the further devaluation of its U.S. real estate-linked assets caused it to take nearly euro2 billion ($2.7 billion) in new writedowns and provisions.

April 29th, 2009 Societe Generale chairman to resign over criticismPARIS — Societe Generale chairman Daniel Bouton said Wednesday he will resign from the French bank, saying repeated attacks on him were a threat to the bank's health. In a statement, Bouton said "Like any manager, I have certainly made mistakes" during his leadership of France's second largest bank, "but the strategy adopted by Societe Generale has made it one of the finest banks in the euro zone." "The repeated attacks against me personally in France for the past fifteen months affect me, but most of all, they risk harming the bank and its 163,000 employees," Bouton added, saying it was "better for me to withdraw, proud of having led a wonderful company." Bouton was Societe Generale's chief executive in January 2008 when the bank announced one of the world's largest trading scandals, which caused a massive loss.

April 14th, 2009 SEOUL - North Korea Tuesday announced that it wants to quit international negotiations on ending its nuclear weapons programme. The Six-Party Talks were 'no longer necessary', the state-run Korean Central News Agency said.

March 25th, 2009 PARIS - French President Nicolas Sarkozy has said that there should be no more severance payments or bonuses to executives of French firms who have performed badly. 'There must be no more 'golden handshakes'.

February 15th, 2009 LOS ANGELES - Smokeless tobacco does not increase smokers' quit rates, according to a new study by US researchers. Previous researches showed that many smokers in Sweden try to quit smoking by using snus, a form of moist, smokeless tobacco that's placed under the lip.

December 31st, 2008 KUALA LUMPUR - A group of Indian leaders from the Pakatan Rakyat, Malaysia's opposition alliance, has sent an ultimatum to opposition leader Anwar Ibrahim to solve their problems or prepare for 'further action'. The opposition alliance has witnessed rumblings as its ethnic Indians have complained that the two million-plus community was being marginalised.