- Reuters
SocGen's weak prospects in French retail hits shares
PARIS (Reuters) -Societe Generale shares fell more than 5% on Friday after the bank's CFO flagged that net interest income in 2024 from the group's French retail business would be at the lower end of guidance. The French bank's shares had earlier gained more than 5%, hitting their highest since March 2023, after SocGen reported first-quarter results that beat analysts' forecasts. "We are today at the lower range of this guidance and of our projections," Chief Financial Officer Claire Dumas told analysts, referring to the retail business.
- Bloomberg
Ex-SocGen Trader Says He Was Fired After Bank Failed to Detect His Bets
(Bloomberg) -- A former Hong Kong-based Societe Generale SA trader claimed he was fired and said the French lender should share the blame for failing to detect his wagers.Most Read from BloombergUS and Saudis Near Defense Pact Meant to Reshape Middle EastSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineBiden Calls Ally Japan ‘Xenophobic’ Along With China, RussiaHuawei Secretly Backs US Research, Awarding Millions in PrizesTurkey Halts All Trade With Israel Over War in GazaKavish Kat
- Bloomberg
SocGen Traders in Asia Exit After Options Bets Go Undetected
(Bloomberg) -- A pair of traders in Hong Kong have left Societe Generale SA after the French bank discovered a batch of risky bets that went undetected by the firm’s risk-management systems, according to people familiar with the matter.Most Read from BloombergHSBC CEO Quinn Unexpectedly Steps Down After Almost 5 YearsTesla Soars on Tentative China Approval for Driving SystemStocks Trade for 390 Minutes a Day. Increasingly, Only 10 MatterBinance and CZ’s Fortunes Are Set to Grow, Jail or no JailC
