|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||5.16 - 5.22|
|52 Week Range||5.05 - 9.07|
|Beta (3Y Monthly)||0.97|
|PE Ratio (TTM)||6.27|
|Forward Dividend & Yield||0.50 (7.87%)|
|1y Target Est||5.70|
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.
Moody's Investors Service ("Moody's") today upgraded the baseline credit assessment (BCA) of PJSC ROSBANK (Rosbank) to ba2 from ba3, adjusted BCA to baa3 from ba1, deposit ratings to Baa3/Prime-3 from Ba1/Not-Prime, counterparty risk ratings (CRRs) to Baa2/Prime-2 from Baa3/Prime-3 as well as senior unsecured rating and senior unsecured credit facility to Baa3 from Ba1. Concurrently, Moody's has upgraded its the Counterparty Risk Assessment (CR Assessment) to Baa2(cr)/Prime-2(cr) from Baa3(cr)/Prime-3(cr).
Shareholders of French bank Societe Generale voted to give Chief Executive Frederic Oudea another four-year term as board member after he renewed his commitment to lift up the bank's profitability and solvency. About 96% of shareholders present during the bank's annual shareholders meeting voted in favour of Oudea, who has been at the helm of the bank since 2008. During the meeting, Oudea reiterated his priority is to lift the bank's return on tangible equity between 9% and 10% in 2020.
Mario Draghi has five months left in office at the European Central Bank, and yet more years of work ahead if he wants it. The ECB president’s pending exit in October has sparked speculation back home in Italy over whether he’ll retire from public life or return one day to participate in the nation’s fractious political scene. Finance Minister Giovanni Tria said last month that Draghi could make a “big contribution” there.
(Reuters) - Paris-based Societe Generale said on Thursday it has received banking authorisation from Australia's financial regulator, years after winding down operations in the country. Societe Generale, ...
Credit Agricole SA posted bigger-than-expected declines in profit and revenue in the first quarter as weakness at its key Italian business overshadowed resilient trading income. Underlying revenue in Italy, Credit Agricole’s second-biggest retail market, declined 3.9% as volatile markets weighed on fees. Chief Executive Officer Philippe Brassac has targeted consumer banking in the country as an area of growth as he reorganized the bank’s structure over the past four years and sold less strategic holdings.
President Donald Trump loves tariffs so much he once called himself "Tariff Man." He also has repeatedly portrayed the punitive tariffs he has imposed on China and other countries as tools to create leverage and draw them into new trade deals that benefit the U.S. With his move to raise tariffs on $200 billion in Chinese imports last week and to order up plans for tariffs on all further trade from China, Trump has deployed import taxes on a scale not seen in decades, with some economists reaching as far back as the 19th century for comparisons. In tweets and other public utterances in recent days Trump has hailed his tariffs, claiming they have helped power U.S. economic growth and repeated over and over again that other countries such as China foot the bill, a view even his own economic advisers are uncomfortable defending.
Traders had attributed the earlier advance to comments by President Donald Trump that talks are “going to be very successful” and a surge in the currency’s interbank borrowing costs in Hong Kong. “The rally in the yuan didn’t last because it wasn’t built on a solid foundation, such as progress made on the trade talks, but was based on a few comments made by Trump,” said Gao Qi, a currency strategist at Scotiabank in Singapore. The People’s Bank of China will want to keep the currency stronger than 7 per dollar as a break may lead to a “vicious cycle” of capital outflows and sharper depreciation, according to Macquarie Securities Ltd.
“I can’t see a real deal before the G-20 summit in June,” said Ciaran O’Hagan, head of European rates strategy at Societe Generale in London. The conflict between the world’s two biggest economies has taken a turn for the worse over the past week, with Trump imposing another wave of tariffs on Chinese goods Friday.
The core consumer price index, which excludes food and energy, rose 0.1% from the prior month, missing estimates, and 2.1% from a year earlier as forecast, according to a Labor Department report Friday. The broader CPI rose 0.3% monthly and 2% annually, with both figures less than projected. Trump tweeted 31 minutes after the inflation report that the CPI was “really good, very low inflation! We have a great chance to ‘really rock!”’ The president has pressured the Fed for a reduction in interest rates to supercharge the economy amid muted inflation, even as the tight labor market has raised wages and lowered unemployment.
French bank Societe Generale said on Tuesday that it planned to increase profits at its domestic retail banking arm in 2020 thanks to automation and focussing on wealthier clients. SocGen, as the bank is known, told investors it expected that revenue in its domestic retail network will first remain unchanged or fall by 1 percent in 2019 because of persistently low interest rates, while costs will rise between 1 percent and 2 percent as the bank implements automation processes. As a result of this year's transformation, SocGen now expects costs to start falling in 2020, while it sees revenues rising, boosting return on net equity to between 11.5 percent and 12.5 percent, the bank said in a presentation to investors.
A gauge measuring demand to buy bearish contracts on the offshore yuan surged the most since early 2018 on Monday. The move came after U.S. President Donald Trump threatened to levy new tariffs on the country’s goods. Analysts expect any potential agreement will include a clause on currency stability.
Payrolls climbed by 263,000 in April after a downwardly revised 189,000 advance the prior month, according to a Labor Department report Friday that exceeded all estimates in a Bloomberg survey. The fed funds futures market briefly showed a slight reduction in odds for a Federal Reserve rate cut this year, but subsequently shifted to show a slightly lower end-of-year rate for the Fed’s benchmark. President Donald Trump tweeted “JOBS, JOBS, JOBS!” after the report and will likely seize upon the data as validation of his tax-cutting policies.
Societe Generale SA got some relief from its key equities business and stronger capital levels in a quarter that prolonged the slump in its investment banking unit. The diverging results show the challenge for Chief Executive Officer Frederic Oudea, who is facing a crucial shareholder vote this month on a new term. Oudea, the longest-serving CEO of a top European bank, is cutting 1,600 jobs after he had to give up his main mid-term targets for growth and profitability.
PARIS , May 3, 2019 /PRNewswire/ -- Societe Generale, one of the largest European financial services groups, reports results for Q1 2019. CEO Frédéric Oudéa comments on the Group's results. Watch video ...
SocGen, France's third-largest bank, posted net income of 631 million euros ($705 million) for the first three months of the year. Shares of SocGen have tumbled more than 37% over a 12-month period. Societe Generale GLE-FR first-quarter profit fell 26% over the first three months of the year, as challenging market conditions continued to hobble Europe's banks.
By Peter Hobson LONDON (Reuters) - The London Bullion Market Association (LBMA) said Societe Generale had resigned as a market maker for gold and silver, as France's third-largest bank pushes ahead with ...
The London Bullion Market Association said Societe Generale had resigned as a market maker for gold and silver, as France's third-largest bank pushes ahead with a downsizing of its commodities business. ...
Earlier, China’s first official gauge of the manufacturing sector in April fell, signaling that more work is needed to bed down the economic stabilization seen in the first quarter. Industrial production also tumbled in South Korea and Japan, and gross domestic product growth slowed a notch in Taiwan. U.S Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are heading into a new round of talks before Chinese Vice Premier Liu He goes to Washington next week.
Purchases, which make up more than two-thirds of the economy, rose 0.9 percent in March from the prior month, topping estimates with the best gain in almost a decade, after a 0.1 percent February increase, according to a Commerce Department report Monday that combined two months after delays related to the government shutdown. Excluding food and energy, the Fed’s preferred core-price gauge was little changed from the previous month, compared with estimates for a 0.1 percent gain. The broader personal consumption expenditures price index rose 0.2 percent in March from the previous month and climbed 1.5 percent from a year earlier, also below forecasts.
India’s financial capital goes to the polls on Monday with billionaires, celebrities and slum dwellers among those lining up to elect lawmakers they hope will fix Mumbai’s crumbling and stretched infrastructure. Elections in the city -- home to Bollywood stars as well as seven of India’s 19 richest people including Mukesh Ambani and Uday Kotak -- often come with a touch of glamour, and this year is no different. Actor Sanjay Dutt joined his sister and two-time former Congress lawmaker Priya Dutt on the campaign trail as she seeks to reclaim a seat she lost in 2014, while actress Urmila Matondkar, also from the opposition Congress party, is making her electoral debut.
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.