Societe Generale

Moody's downgrades French banks on fund raising, liquidity concerns

Moody's cut its ratings on the long-term debt of BNP and Credit Agicole by one notch to Aa3. Societe Generale's long-term debt was cut by one notch to A1.

Moody's downgrades Credit Agricole, SocGen ratings

The outlook on the long-term debt ratings was negative. Moody's anticipated that the impact of its review on the Bank Financial Strength Rating (BFSR) would be limited to a one-notch downgrade.

Qatar in talks for possible stake in BNP Paribas

An investment from Qatar would be positive news for French banks after months of intense selling pressure forced BNP and SocGen to announce tens of billions of euros in asset sales to free up capital.

New EU rules seek to make too-big-to-fail banks less risky

The European Union's executive arm is set to present a long-awaited financial market reform meant to defuse risk-taking by the largest banks and protect taxpayers from the potential costs of rescuing them.

RBS, Societe Generale may cut over 11,500 jobs

The job cuts comes in the wake of the banking sector, especially investment banking activities, facing difficult times.

Gold nears record high again on euro zone worries

Gold climbed to a near record high above $1,900 an ounce on Monday as renewed pangs of euro zone debt concerns sent investors fleeing from riskier assets.