|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||28.24 - 29.07|
|52 Week Range||23.56 - 46.00|
|Beta (3Y Monthly)||1.69|
|PE Ratio (TTM)||6.84|
|Earnings Date||May 3, 2019|
|Forward Dividend & Yield||2.20 (8.54%)|
|1y Target Est||43.49|
Climate activists blocked thousands of employees from entering the headquarters of French bank Societe Generale, state-run utility EDF and oil giant Total on Friday, environmental group Greenpeace said. Greenpeace said it was protesting against company links to the oil and gas industry, which it calls a driving force in global warming.
Climate activists blocked hundreds of employees from entering the headquarters of French bank Societe Generale, state-run utility EDF and oil giant Total on Friday, environmental group Greenpeace said. Greenpeace said it was protesting against the companies links to the oil and gas industry, which the group says is a driving force in global warming. Some protesters taped themselves together while others cuffed themselves with plastic ties to metal poles to make it harder for police to dislodge them.
The Ordinary General Meeting of shareholders will be held on 21st May 2019, at 4 p.m., at Paris Expo, Espace Grande Arche, la Grande Arche, 92044 Paris-La Défense (France). The notice of meeting and the convening notice relating to this Meeting were respectively published in the Bulletins des Annonces Légales Obligatoires (BALO) dated 18th March and 17th April 2019. The documents to be made available to the shareholders as part of this Meeting may be consulted, in accordance with the conditions provided by the regulations in force, at the administrative office, 17 cours Valmy - 92972 Paris-La Défense (France).
Name of issuer: Société Générale S.A. – French public limited company (“SA”) with a share capital of 1,009,897,173.75.
The French bank said on Tuesday that it is planning to close its over-the-counter commodities business and its proprietary trading subsidiary as part of a global move to cut about 1,600 jobs after a slump in trading revenue. The move comes just months after BNP Paribas shuttered its U.S. commodities derivatives desk as France’s largest bank sought to protect profitability. The commodities business has seen a broad retreat from Wall Street and other financial firms in recent years after increased financial regulations and lackluster profits.
Societe Generale SA said it plans to cut about 1,600 jobs after a slump in trading revenue pushed Chief Executive Officer Frederic Oudea to intensify efforts to boost profit at the investment-banking unit. The reductions include close to 1,200 positions at the global banking and investor solutions division, which houses its trading activities, a trade union representing SocGen’s French employees said earlier, citing a briefing by the bank. About 750 jobs will disappear in France, SocGen said, without giving further details on where it plans to make the cuts.
Societe Generale plans to cut 1,600 jobs, mainly at its corporate and investment banking arm, in an attempt to boost profits after a poor performance last year, France's third-largest bank said on Tuesday. The move is part of a plan announced in February to cut 500 million euros ($563 million) in costs in corporate and investment banking after a steep market downturn forced it to lower revenue and profitability targets. "Since early February, we have carried out a review of all the activities of corporate and investment banking.
Société Générale has announced 1,600 job cuts as part of a plan to eliminate €500m in costs after missing its financial targets due to poor performance in its trading unit. The investment bank will be hardest-hit, losing about 1,200 positions, with 750 of the reductions to come in France and hundreds more in the bank’s international hubs in London and New York. The cuts represent about 8 per cent of the investment bank’s 20,000-strong workforce.
Crude’s rally to a four-month high has largely been driven by production cuts by the Organization of Petroleum Exporting Countries and its partners, a coalition that pumps about half of the world’s oil. The alliance’s greater success reflects how its de-facto leader, Saudi Arabia, has learned from errors made two years ago. “They’ve executed this pretty flawlessly,” said Helima Croft, chief commodities strategist at RBC Capital Markets LLC in New York.
Some large foreign banks operating in the US face having to hold more liquid assets under a regulatory shake-up proposed on Monday by the Federal Reserve. The changes to the post-crisis rule book would reduce capital requirements and frequency of stress tests for many institutions, but they also tighten liquidity rules for a list of banks that could include Barclays, Credit Suisse and Deutsche Bank. Whereas for domestic banks the changes largely came as a relief from the post-crisis Dodd-Frank legislation, the outcome is more complex for foreign banks, some of which are set to gain while others are likely to lose out.
France's Societe Generale plans to cut about 600 jobs at its investment banking unit in Paris and a few hundred more in London and New York, a source at the bank said on Friday. SocGen's Chief Executive Frederic Oudea said two months ago the bank would cut costs by 500 million euros (429.63 million pounds) at its corporate and investment banking business after the unit's profits fell by more than half in the fourth quarter. SocGen management is due to meet with union representatives to discuss a plan early next week, the source said.
The French bank is speeding up staff reductions at its headquarters after tough trading conditions persisted into the new year and may announce the cuts as soon as next week, the people said, asking not to be identified as the matter is private. Bruno Benoit, head of the key fixed income and currencies trading unit, is among high-profile executives to leave the firm, they said. The Paris-based lender is slashing 500 million euros ($567 million) of costs and reviewing less profitable investment-banking activities after surprising investors with a profit warning because of a market rout.
(Bloomberg) -- U.S. hiring rebounded more than forecast in March and the prior month was stronger than first reported, potentially relieving some concerns about a cooling economy. Wage gains eased and the unemployment rate held near a 49-year low.
Societe Generale wants to play a key role in a European banking consolidation process that it expects to happen even if conditions are not right at the moment, the chairman of the French bank said. Lorenzo Bini Smaghi said that Europe needed cross-border banking mergers to create big players that could compete with U.S. rivals. "SocGen wants to be a protagonist of this consolidation process which will happen," he told reporters in Milan late on Wednesday.
Wall Street banks are cutting their forecasts for Treasury yields and shelving calls for the Federal Reserve to hike interest rates this year amid signs of slowing economic growth. Goldman Sachs Group Inc. and JPMorgan Chase & Co. still forecast yields rising over this year, but by less than expected -- to 2.8 percent and 2.75 percent, respectively, from 2.44 percent now. Morgan Stanley now sees 10-year Treasury yields ending 2019 at 2.25 percent, down from 2.35 percent previously.
While prices typically ease at this time of year as mild weather in the northern hemisphere crimps demand, a boom in output of the heating and power-plant fuel is exacerbating the slump. The crash comes as the world’s biggest energy companies are set to gather at the LNG2019 conference in Shanghai next week, with many considering whether to move forward with a wave of massive, multibillion-dollar liquefied natural gas export projects. Global trade is already shifting as lower prices wipe out the economics of sending U.S. gas to Asia and boost Europe’s appeal as a market.
Francois Villeroy de Galhau has notched up an intellectual victory at the European Central Bank just when his credentials for higher office could do with being noticed. The Bank of France governor, a contender to replace President Mario Draghi, might claim to have won over colleagues with his push for a rethink of the institution’s negative interest rate policy. Draghi didn’t credit his French colleague with the idea when he announced that the ECB was considering a new approach to soften the impact of sub-zero borrowing costs on banks’ balance sheets.
Currencies from South Africa’s rand to Brazil’s real are witnessing a spike in their expected volatility, signaling concern they may weaken the most along with the lira over the next month. The price-swings have evoked memories of last year when a meltdown in the Turkish exchange rate spurred panic selling across emerging markets.
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Yahoo Finance's Oscar Williams-Grut reports to Adam Shapiro and Julie Hyman about Societe Generale and their plan to cut 1,600 jobs across the globe.