Pressure piles on SocGen as report due, trial starts
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Societe Generale , the French  bank hit by a trading scandal, faced further pressure on Monday  with a government report set to criticize its risk control and  as an unrelated money-laundering trial starts.
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Societe Generale is in crisis, France's economy minister said on Tuesday of the bank hit by losses piled up by a rogue trader, questions over its leadership, takeover speculation and a falling stock price.
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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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French bank Societe Generale , at the centre of a huge trading scandal, began investigating trades executed by junior trader Jerome Kerviel months before his unauthorized activities were exposed in January, the Financial Times reported.
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Societe Generale faces growing embarrassment after it emerged the French bank was warned last year about the suspect activities of Jerome Kerviel and its key fraud accusation against the 31-year-old trader collapsed.
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French investigators have questioned several executives at Societe Generale as part of a probe into the futures trader that the bank has blamed for billions of euros (dollars) in losses, a judicial official said Sunday.
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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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A senior prosecutor recommended that Daniel Bouton be questioned by judges in connection with accusations he has made about a rogue traderâs role in SociÃ©tÃ© GÃ©nÃ©raleâs  loss of billions of euros.
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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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Individuals and companies go on trial in France over the deaths of 39 people in the 1999 Mont Blanc tunnel fire.
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The first criminal trial involving former executives of the now infamous energy company, Enron, begins today in a case that could have a crucial bearing on future trials of the company&#39;s top officials.
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A trial begins in Paris over the late President Francois Mitterrand's  wiretapping of his opponents in the 1980s.
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French police on Friday questioned a share broker over links to rogue trader Jerome Kerviel, whose 4.8 billion euro (7.1 billion dollar) losses nearly brought Societe Generale bank to its knees, justice officials said.
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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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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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France begins a trial over the 1999 Erika oil spill - one of the country's worst environmental disasters.
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Citigroup, Deutsche Bank, Morgan Stanley and UBS have been ordered to stand trial on charges of market manipulation.