Pressure Mounts for Resignation at French Bank
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Politicians in France increased calls for the resignation of top executives at SociÃ©tÃ© GÃ©nÃ©rale, ahead of the boardâs regular meeting, scheduled for Wednesday.
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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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France was hit by transport chaos Thurday as unions challenged President Nicolas Sarkozy with a 24-hour strike, but the government vowed to stick by plans to overhaul pensions for hundreds of thousands in the public sector.
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Business & money: Daniel Bouton is to stay on at the French bank to guide it through its current crisis, board decides
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The French bank's board of directors have decided to back the chief Daniel Bouton. But their travails have only begun
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France's economy minister said Societe Generale, reeling from losses blamed on a rogue trader, is a bank in crisis and may need to ditch its chairman.
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Â· French president headed for showdown in Brussels  Â· He will demand greater political control over euro
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Exchange officials warned Societe Generale about Jerome Kerviel's deals late last year, a Paris prosecutor said, piling pressure on the French bank to explain how his rogue trades were not uncovered earlier.
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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 bosses and run up a $7 billion loss -- while his family said he had been made a scapegoat.
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The French government is calling for tighter risk-control measures and a broad review of bank rules in response to losses from the trading scandal at SociÃ©tÃ© GÃ©nÃ©rale.
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The CEO's resignation likely means more trouble ahead.
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Pressure has mounted further on Prime Minister Tony Blair to name a resignation date after a leaked memo set out his &quot;exit strategy,&quot; fueling already intense speculation about his plans.
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The board of Societe Generale pored over the fate of its chairman on Wednesday, torn between political pressure to dump him over a trading scandal and the need to close ranks against potential predator BNP Paribas.
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The French government pressured the country's second-largest trade union to resume talks with Swiss giant Nestle SA, backing a voluntary layoff plan that could avert a Perrier sell-off.
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Resignation points to potential problem for Dutch lender in keeping staff as takeover battle plays out.
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Pressure on French advertising group Havas mounted yesterday as it emerged that corporate raider and dissident shareholder Vincent Bollore has asked for seats on the company&#39;s board.
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Bixente Lizarazu has hit out at Marseille&#39;s fans after they called for Christophe Bouchet to step down as chairman in a protest.