Pressure piles on SocGen
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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.
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Fresh writeoffs at big European and Japanese banks on Wednesday threw the investor spotlight firmly back onto the credit crunch after days gazing at Societe Generale's stunning losses, which it blames on a junior trader.
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The FTSE 100 came under further pressure on Wednesday as US futures suggested another turbulent session on Wall Street.
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French bank BNP Paribas revealed on Thursday it was stalking crisis-hit Societe Generale, while voices in the European Union were raised against France for warning it would ward off hostile bids.
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Societe Generale (SocGen) , hit by massive losses it blamed on rogue trades, braced for fresh criticism on Tuesday after a government report highlighted major failings in its risk controls.
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France's finance ministry calls for tighter banking controls after the Societe Generale trading scandal.
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The board of French bank Societe Generale met Wednesday with its top executive under intense pressure over the loss of $7.09 billion blamed on a rogue trader.
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Societe Generale, the French bank reeling  from a rogue trading scandal, launched a rights issue at a  steep discount on Monday, aiming to raise 5.5 billion euros  ($7.97 billion) to bolster its balance sheet.
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Rumors are rife in France that the beleaguered bank Soci&#201;t&#201; G&#201;n&#201;rale will be acquired by a hostile rival
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French railway and energy workers kept up  the pressure on President Jacques Chirac's government on  Wednesday with strikes over working conditions that severely  reduced train traffic and curbed electricity output.
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French bank Societe Generale faced tough questions on Friday over how it failed to spot the biggest rogue dealing fraud in history, in which a single young trader triggered a $7 billion loss under the noses of top executives.
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Steel companies are feeling the pressure to be big or consolidate after the merger of the worldÂs largest and second-largest steel producers.
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The trader at the centre of a massive trading scandal reportedly says Societe Generale must have known of his risk taking.
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SociÃ©tÃ© GÃ©nÃ©rale, the French bank that earned the respect of it rivals, is now embarrassed by a rogue trader.
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The FTSE 100 lost ground on Tuesday as news of shock writedowns at Credit Suisse (NYSE:CS) overshadowed reassuring figures from Barclays (NYSE:BCS).
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Business & money: Â· Doubt cast on SocGen claim of single perpetratorÂ· Employee of financial services firm is held
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The European banking sector continued to be hammered on Monday. Shares in French, German and Swiss banks were the hardest hit, but even Spanish and Italian institutions with minimal US subprime exposure could not escape.