• Why Did French Bank's 'Rogue Trader' Do It? Friday, 25 Jan 2008 | 4:31 PM ET
    Jerome Kerviel, Societe Generale bank trader accused of fraud.

    A day after Societe Generale unveiled a fraud that cost it 4.9 billion euros ($7.18 billion), France's media was left wondering about a rogue trader described variously as a genius of fraud and a troubled introvert.

  • French Media Puzzle over SocGen Rogue Trader Friday, 25 Jan 2008 | 10:56 AM ET
    Jerome Kerviel, Societe Generale bank trader accused of fraud.

    A day after Societe Generale unveiled a fraud that cost it 4.9 billion euros ($7.18 billion), France's media was left wondering about a rogue trader described variously as a genius of fraud and a troubled introvert.

  • Pressure Piles on SocGen over Trading Scandal Friday, 25 Jan 2008 | 9:45 AM ET

    Societe Generale came under mounting pressure on Friday to give a full account of how a rogue trader managed to dupe his supervisors and run up a $7 billion loss.

  • Did French Bank's Huge Loss Trigger Fed Rate Cut? Thursday, 24 Jan 2008 | 2:28 PM ET

    Societe Generale's  $7 billion fraud left investors wondering about a link between the fiasco and the Fed's emergency rate cut.

  • French Bank Blames Trader for $7 Billion Loss Thursday, 24 Jan 2008 | 12:30 PM ET

    The biggest rogue trader scandal in history hit Societe Generale on Thursday as the French bank accused a junior employee of a fraud costing $7 billion.

  • Societe Generale: Did It Alone Create Monday Panic? Thursday, 24 Jan 2008 | 9:09 AM ET

    Societe Generale reported a $7.1 billion trading loss due to a rogue trader making bets on stock index futures. While they were making an announcement, they also took writedowns of about $3 billion for losses in the U.S. real estate market and bond insurers.

  • Euro Zone Better off than the US: ECB's Liebscher Thursday, 24 Jan 2008 | 3:27 AM ET

    Euro zone growth could come in below 2 percent this year, European Central Bank Governing Council member Klaus Liebscher was quoted as saying on Thursday, but the region is better off than the United States.

  • Euro Zone Services Growth Points to Weakness Wednesday, 23 Jan 2008 | 4:44 AM ET

    Euro zone services growth slumped significantly below forecasts to a rate not seen in over four years this month, but manufacturing growth remained unchanged from December, a key survey showed on Wednesday.

  • French Court Tells GDF to Consult on Merger Tuesday, 22 Jan 2008 | 10:43 AM ET

    A Paris court on Tuesday told Gaz de France to provide its works council with more details on the state-owned gas supplier's planned merger with Suez, a source close to the situation told Reuters.

  • Why French Workers Prefer to Get Fired Friday, 18 Jan 2008 | 8:51 AM ET

    French President Nicolas Sarkozy wants to change the law to allow workers who quit their jobs to receive unemployment benefits, as many French workers go to great lengths to get fired if they want to search for a new job.

  • EU Finance Ministers Urge for Transparency Thursday, 17 Jan 2008 | 1:03 PM ET

    Finance ministers from Europe's top four economies called on Thursday for greater market transparency, full disclosure of losses and better coordination among supervisory bodies in response to the global credit crunch.

  • Europe's "Big 4" Confer on Credit Crunch Response Thursday, 17 Jan 2008 | 8:16 AM ET

    Five months on, finance ministers from Europe's four largest economies headed to Paris on Thursday to discuss an international response to the credit crunch that struck last August and continues to plague the global economy.

  • ECB's Mersch Expects Euro-Zone Slowdown: Report Wednesday, 16 Jan 2008 | 12:13 PM ET

    There are downside risks to euro zone growth and the European Central Bank will remain flexible on interest rates, Governing Council member Yves Mersch was quoted as saying on Wednesday.

  • Sarkozy Confirms UAE Nuclear Cooperation Plan Sunday, 13 Jan 2008 | 4:00 PM ET

    French President Nicolas Sarkozy confirmed on Sunday plans to sign a nuclear cooperation agreement with the United Arab Emirates amid reports French firms could construct up to two nuclear reactors there.

  • UBS in Shareholder Plea as Subprime Fallout Weighs Friday, 11 Jan 2008 | 7:58 AM ET

    UBS has appealed to its shareholders to back a capital injection by the Singapore government and a Middle East investor but warned it still cannot predict how the subprime crisis will play out.

  • ECB Leaves Interest Rate Flat at 4% Thursday, 10 Jan 2008 | 9:15 AM ET

    The European Central Bank left interest rates unchanged on Thursday amid continuing uncertainty regarding the outlook for the economy.

  • The ECB's Year of the Rat Thursday, 10 Jan 2008 | 3:47 AM ET

    The European Central Bank seems to have little choice but to keep rates on hold this time as well, despite rising inflation. Money markets are still not back to normal and there are signs of a weakening economy.

  • Euro Stocks End Lower on US Recession Fears Wednesday, 9 Jan 2008 | 12:14 PM ET

    European equities dropped on Wednesday, ending at their lowest close in 1-1/2 month as worries over the prospect of a U.S. recession rattled investors, while retail shares sank after Mark and Spencer's profit warning.

  • France's Sarkozy Wants to Scrap Ads on Public TV Tuesday, 8 Jan 2008 | 11:10 AM ET

    French media stocks jumped following a speech from French President Nicolas Sarkozy Tuesday in which he proposed banning advertising on public television channels. The loss of income would be replaced by a levy on the advertising revenue of private television channels, according to the plans.

  • Efforts to Tame Money Markets Worked: Trichet Monday, 7 Jan 2008 | 10:54 AM ET

    Major central banks are satisfied with joint efforts to tame money market tensions around the turn of the year but will remain in close contact, policymakers said on Monday.