CORRECTED: SocGen chairman's fate in balance as board meets
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Corrects name of BNP CEO in paragraph 8 from Michel Pebereau, who is chairman
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Exchange officials questioned deals by Societe Generale trader Jerome Kerviel in November 2007, the Paris prosecutor said on Monday, adding to pressure on the French bank to explain how the trader almost brought it down.
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A new face in the boardroom heralds change for the troubled company.
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Jerome Kerviel, the trader blamed by Societe Generale for heavy losses, had a trading deficit of 2.2 billion euros ($3.2 billion) as early as June last year, an adviser to his lawyer told Paris Match.
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PARIS, Jan. 29 -- The 31-year-old trader accused of causing $7.1 billion in losses at France's Societe Generale bank told police investigators that his financial deals were so big that his bosses had to know about them, according to transcripts published Tuesday on two French Web sites.
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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 New York Times Co.  board of directors met with leading shareholders in late February, a spokeswoman of the paper confirmed on Monday, amid a fight to cut the Sulzberger family's long-standingcontrol of the company.
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The man at the center of a trading  scandal at Societe Generale said that his activities could not  have gone undetected by the French bank.
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(Corrects to show Moodyâs cut ratings on some collateralized debt obligations, not AMBAC shares in final 2 paragraphs)
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The man at the center of a trading scandal at Societe Generale said that his activities could not have gone undetected by the French bank.
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InfoWorld - The huge losses reported by French bank Soci??t?? G??n??rale, apparently caused by a rogue trader with inside knowledge of the bank's procedures, don't necessarily point to an IT systems failure but rather to poor management of those systems, analysts say.
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Jerome Kerviel, the trader blamed by  Societe Generale for heavy losses, had a trading deficit of 2.2  billion euros ($3.2 billion) as early as June last year, an  adviser to his lawyer told Paris Match.
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The board of Societe Generale was expected to decide on Wednesday whether to ditch its chairman in the wake of rogue trading losses, with the future of France's second-biggest listed bank at stake as the government warned off predators.
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A look at how Societe General's trading scandal unfolded:
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Business & money: Â· Lender tells shareholders that dividend is on hold  Â· Group of hedge funds is rumoured to be in talks
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The board of French bank Soci&#201;t&#201; G&#201;n&#201;rale met Wednesday with its top executive under intense pressure over the loss of $7.09 billion blamed on a single trader
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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.