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Aug 1, 2014

SocGen keeps faith with Russian growth story

PARIS, Aug 1 (Reuters) – French bank Societe Generale
kept faith with its plans for growth in Russia on
Friday a day after new EU sanctions targeted the Russian
financial sector.

“On the sanctions, what we are thinking is we will apply
them with a lot of discipline,” said Chief Executive Frederic
Oudea.

Jul 31, 2014

BNP clients shrug off sanctions-busting as fine delivers Quarter2 loss

PARIS (Reuters) – BNP Paribas’ capital markets business grew by a fifth in the second quarter – a signal clients have shrugged off the U.S. sanctions busting affair that pushed France’s biggest bank to a second-quarter loss.

The 4.317 billion euro ($5.78 billion) loss, its first since the 2008 financial crisis, was the result of a 5.95 billion euro charge for a fine that was announced on June 30 after weeks of speculation about the size of the penalty.

Jul 31, 2014

BNP clients shrug off sanctions-busting as fine delivers Q2 loss

PARIS, July 31 (Reuters) – BNP Paribas’ capital markets
business grew by a fifth in the second quarter – a signal
clients have shrugged off the U.S. sanctions busting affair that
pushed France’s biggest bank to a second-quarter loss.

The 4.317 billion euro ($5.78 billion) loss, its first since
the 2008 financial crisis, was the result of a 5.95 billion euro
charge for a fine that was announced on June 30 after weeks of
speculation about the size of the penalty.

Jul 31, 2014

U.S. fine tips BNP Paribas into second-quarter loss

PARIS, July 31 (Reuters) – BNP Paribas turned in a
second-quarter loss on Thursday, reflecting the cost of an $8.95
billion fine for breaking U.S. sanctions, but the French bank
said its strong underlying result was a sign clients had not
been scared off by the affair.

The 4.317 billion euro ($5.78 billion) loss, its first since
the 2008 financial crisis, was the result of a 5.95 billion euro
charge for a fine that was announced on June 30.

Jul 29, 2014

Macho sport looks to feminine side in women’s World Cup

PARIS (Reuters) – It is seen as the ultimate macho sport, but for the 12 captains in Paris on Tuesday at the official launch of the women’s World Cup there is much more to rugby than a chance to break a few gender stereotypes.

“There’s the challenge of course – it’s such a man’s game – but it’s also just a great sport. There are so many aspects to it,” said Kelly Russell, captain of Canada.

Jul 8, 2014

Air France warns on profit as overcapacity hits prices

PARIS (Reuters) – An Air France-KLM profit warning bruised European airline shares on Tuesday, as the latest evidence of overcapacity set the stage for possible further job cuts.

Europe’s second-largest traditional network carrier warned its 2014 profits could be as much as 12 percent lower than previously predicted, mainly as a result of overcapacity and resulting weak prices in both the passenger and cargo sectors.

Jun 12, 2014

Top BNP exec to go as talks on U.S. penalty gather pace

PARIS (Reuters) – The chief operating officer of BNP Paribas is to step down at the end of June and retire completely on Sept. 30, France’s biggest bank announced on Thursday as talks with U.S. authorities over a potential $10 billion (5.95 billion pounds) fine gathered pace.

New York’s banking regulator had requested the departure of the long-serving Georges Chodron de Courcel as part of a settlement for alleged violations of sanctions against Iran, Sudan and other countries, a person familiar with the matter told Reuters on June 5.

Jun 12, 2014

Top BNP executive to go amid sanctions-busting investigation

PARIS (Reuters) – The chief operating officer of BNP Paribas is to step down at the end of June and retire completely on Sept. 30, France’s biggest bank announced on Thursday as it wrestles with U.S. authorities over a potential $10 billion fine.

New York’s banking regulator had requested the departure of the long-serving Georges Chodron de Courcel as part of a settlement for alleged violations of sanctions against Iran, Sudan and other countries, a person familiar with the matter told Reuters on June 5.

Jun 12, 2014

Top BNP exec to go amid sanctions busting investigation

PARIS, June 12 (Reuters) – BNP Paribas’ Chief
Operating Officer is to step down at the end of June and retire
completely on Sept 30, the French bank announced on Thursday as
it wrestles with U.S. authorities over a potential $10 billion
fine.

New York’s banking regulator had requested the departure of
the long-serving COO, Georges Chodron de Courcel, as part of a
settlement for alleged violations of sanctions against Iran,
Sudan and other countries, a person familiar with the matter
told Reuters on June 5.

Jun 10, 2014

Vallourec warns on profit as Petrobras cuts pipe stocks

PARIS, June 10 (Reuters) – Steel pipes maker Vallourec
warned on Tuesday that core profit would drop 10
percent this year as customers – mainly Brazilian state oil
company Petrobras – run down inventories to save
money.

Petrobras alone will account for some 60 million euros ($82
million) of the slide in earnings before interest, tax,
depreciation and amortisation (EBITDA), which Chairman Philippe
Crouzet told reporters would amount to between 80 and 90
million. EBITDA was 920 million euros last year.

    • About Andrew

      "Andy leads the London-based team that edits company news copy from around Europe, the Middle East and Africa and supports EMEA Companies Editor of Charge Chris Wickham. Andy is a newswire "lifer" with experience in reporting and editing in London, Singapore and Paris. A one-time oil industry specialist, his first industry job in the early 1980s was collecting pepper and banana prices for Agence France Presse."
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