PARIS, Jan 19 (Reuters) – Societe Generale is to
split its top job into two with the appointment of former
European Central Bank executive board member Lorenzo Bini Smaghi
as chairman, while Frederic Oudea will remain chief executive.
Societe Generale was the only big French bank not to have
separated the two roles and was expected to do this to comply
with European Union regulations and recommendations from French
PARIS (Reuters) – French President Francois Hollande said on Saturday that anti-Charlie Hebdo protesters in other countries do not understand France’s attachment to freedom of speech.
He was speaking a day after the satirical weekly’s publication of a cartoon of the Prophet Mohammad sparked violent clashes, including deaths, in some Muslim countries.
PARIS, Jan 16 (Reuters) – French municipal borrowers are
seeing the cost of billions of euros in Swiss franc-linked debt
spiral dangerously higher, making them collateral victims of the
Swiss currency’s surge.
Up to the 2008-2009 financial crisis, many municipalities
and local governments took out long-term loans linked to foreign
currencies, offering low interest rates in the initial years and
floating rates afterwards.
PARIS, Jan 13 (Reuters) – Charlie Hebdo will publish a front
page showing a caricature of the Prophet Mohammad holding a sign
saying “Je suis Charlie” in its first edition since Islamist
gunmen attacked the satirical newspaper.
With demand surging for the edition due on Wednesday, the
weekly planned to print up to 3 million copies, dwarfing its
usual run of 60,000, after newsagents reported that large
numbers of customers around the country were placing orders.
PARIS (Reuters) – Charlie Hebdo will publish a front page showing a caricature of the Prophet Mohammad in its first edition since Islamist gunmen attacked the satirical newspaper.
With demand surging for the edition due on Wednesday, the weekly planned to print up to 3 million copies, dwarfing its usual run of 60,000, after newsagents reported that large numbers of customers around the country were placing orders.
PARIS, Dec 18 (Reuters) – Credit Agricole has
launched the hunt for a new boss who must reconcile warring
factions within France’s third-largest bank and find a way to
simplify its ownership structure.
The bank’s Byzantine cross-holdings tying its listed arm to
its regional mutuals are a drag on the valuation of the listed
entity and are disapproved of by regulators who say they reduce
transparency for investors and make oversight more difficult.
PARIS, Nov 7 (Reuters) – The International Monetary Fund and
the United States encouraged the European Central Bank and the
Bank of Japan toward greater monetary stimulus on Friday and
urged governments around the world to do their share to
encourage growth in their countries.
Calling the world economy “fragile, brittle and fragmented”,
IMF Managing Director Christian Lagarde told a conference of
central bankers in Paris it was “perfectly legitimate and
appropriate” for the ECB and the BoJ to take unconventional
steps to combat low inflation and economic stagnation.
PARIS, Nov 7 (Reuters) – The European Central Bank should be
ready in an emergency to buy government bonds to combat
prolonged low inflation, a senior ECB policymaker said on
Friday, just as the United States is ending such so-called
Speaking a day after the ECB ordered its staff to start
preparing for bolder measures if needed, Governing Council
member Christian Noyer said central banks should be prepared to
buy public debt if needed to avert deflation or a run on
PARIS, Nov 6 (Reuters) – Credit Agricole’s chief
executive tore into French government economic policy on
Thursday as the French bank and rival Societe Generale
blamed weak demand for a fall in revenues at home.
“The absence of a clear vision and lack of coherence in
economic policies is weighing on confidence and therefore
investment and economic activity,” Agricole CEO Jean-Paul
Chifflet told reporters on a conference call.
PARIS (Reuters) – The global economy is only gradually picking up momentum as stagnation in the euro zone and growing weakness in some big emerging economies weighs on the U.S.-led recovery, the OECD said on Thursday.
With the euro zone a stubborn weak spot in the global economy, the OECD called on the European Central Bank to live up to a promise “to do what ever it takes” to revive its economy and begin purchasing government bonds.