Two court cases in Colorado say employers can fire workers for using medicinal marijuana off the job, but it could take years to settle the law.» Read More
PRAGUE, Oct 1- Telefonica Czech Republic. The loan facility is priced at 175 basis points over the three-month interbank PRIBOR rate, the Czech unit of Spain's Telefonica said. The loan was arranged by UniCredit Bank Czech Republic, Erste's Ceska Sporitelna, Societe Generale.
Frédéric Oudéa,CEO of Société Générale, told CNBC, "We decided to have a very conservative approach in terms of market risk and we have actually very good and well balanced contribution over different activities. I am happy with the performance; the commercial revenues are solid with very low market risk."
Willie Williams, Societe Generale, discusses growing concerns that the ECB may become less proactive.
Headhunters say the recent lay-offs in Asia’s banking industry are just the beginning and expect there will be far worse to come, predicting the total size of the sector in the region could shrink by more than 20 percent. The FT reports.
Julian Callow, Barclays Capital chief European economist, discusses the state of UK and European banks as Italian bond yields rise to worrisome levels. "Banks will be pressured to raise capital," he says.
Moody’s downgrade of 12 British banks last week is irrelevant to the current state of the UK banking sector, analysts told CNBC.com, adding that hell has a better chance of freezing than any British bank failing.
The Fast Money traders discuss today's pops and drops. Also, sharing perspective on where the euro is headed, with Willie Williams, Societe General director.
Jeffrey Gundlach, CEO and CIO of the fixed-income investment management firm DoubleLine Capital, told CNBC Tuesday “junk bonds are actually cheap now. They’ve gone from the richest in history to a massive underperformance versus government bonds.”
Tim Backshall, Capital Context, discusses Societe Generale CEO Frederic Oudea's comments that the French banking giant is fine despite looming worries in the markets.
"We need to fundamentally change the DNA of the banking system. Something like risk management needs to be rethought completely," Don Tapscott, author of Wikinomics & chairman of nGenera Insight think tank, told CNBC.
"A common European treasury will reduce the cost of financing, and ease pressure on states," Patrick Legland, head of research at Societe Generale, told CNBC.
Investors will have to deal with an avalanche of news flow from Europe on Wednesday ahead of a crucial meeting of euro zone finance ministers and US Treasury Secretary Tim Geithner on Friday.
"The biggest problem we have in Europe and elsewhere at the moment is confidence," Sir Michael Rake, BT Chairman, told CNBC.
Moody's Investors Service said on Wednesday that it downgraded the credit ratings of Societe Generale and Credit Agricole, marking the latest in a series of blows to French banks that have recently punished European stocks.
Whether you are an investor based in New York, Rio de Janeiro or Paris, it doesn’t matter which stock you pick. They are all going in the same direction in virtual lockstep.
Whatever happens in Greece it is not an issue for Societe General, which has 41 billion Euros in capital, says Frederic Oude, Societe Generale CEO, who explains that the debt issue in Europe is not significantly impacting the bank. Oude also explains how the financial is cutting costs and steps to reduce its balance sheet.
CNBC's Maria Bartiromo questioned Frederic Oudea, Societe Generale chairman & CEO, regarding exposure to the debt crisis and rumors about the company's capitalization.
Straight from the mines, rough gold goes through a highly complex process, and often travels around the world before it ever makes it to the consumer.
"Companies can either reinvest their dividends in their own projects, or they can give them back to investors, and they can re-invest them in other companies," Michala Marcussen, global head of economics at Societe Generale, told CNBC.
"My favourite candidate [to replace Naoto Kan as Prime Minister] is Yoshiko Noda, the finance minister, but as to who is most likely, that is still very hard to tell," Takuji Okubo, chief Japan economist at Societe Generale, told CNBC.