The euro slid to a one-month low Thursday, after Moody's put a number of European financial firms up for review.
European stocks closed slightly higher Monday, shrugging off Standard & Poor's downgrade of nine eurozone governments.
Thousands of people protest Hungary's new constitution, demanding that PM Orban resign. CNN's Jim Clancy reports.
Hungary's currency plunged to fresh lows against the euro on Thursday after the country failed to attract enough investors at a government bond auction to reach its target.
The ratings firm Fitch downgraded a cluster of the world's largest banks Thursday, pointing to trading challenges facing international markets.
Economist Alan Clarke discusses why central banks have moved to boost liquidity on the global markets.
The ratings firm Fitch downgraded a cluster of the world's largest banks Thursday, pointing to trading challenges facing international markets.
French banking group Societe Generale has been at the center of the recent turmoil over the deepening sovereign debt crisis in Europe.
UBS has revealed a $2 billion unauthorized trading loss. CNN's Jim Bittermann looks at past trade losses.
UBS announced Thursday that rogue trading by one of its investment bank traders had cost the Swiss banking giant a staggering $2 billion.
Swiss banking giant UBS discovered that unauthorized trading has cost it an estimated $2 billion, it announced Thursday.
Wall Street was headed for a third day of gains Wednesday following a rally in European stocks on renewed talk about the possibility of a Eurobond and after Moody's downgraded two French banks.
Underscoring the uncertainty about Europe's financial system, two major French banks -- Societe Generale and Credit Agricole -- were downgraded Wednesday due to their exposure to the debt of Greece and other weak eurozone nations.
Four European countries ban the short-selling of financial stocks. CNN's Nina Dos Santos reports.
CNNMoney: Dow surges 423 pointsupdated: Thu Aug 11 2011 16:48:00
Rebound! Stock markets continued their schizophrenic week Thursday as all three indexes surged on positive earnings and labor market news.
European markets changed course and surged in afternoon trading Thursday, having started strong and then slumped earlier in the session, while Asian stocks were mostly down.
Buckle up. U.S. markets are likely headed for another roller coaster ride Thursday, as investors weigh positive news at home against growing concerns about fiscal problems in Europe.
The stock market continues to struggle. Yesterday's market rally at the close was short-lived. The S&P 500 dropped 2%, and continued to slide in early morning trading Wednesday.
Oil prices moved higher Tuesday as investors focused their attention on the conflict in Libya and escalating tensions in Yemen.
The bank that French rogue trader Jerome Kerviel worked for does not intend to force him to pay 4.9 billion euros (about $6.8 billion) in damages to the bank, a representative said Wednesday.
Trader Jerome Kerviel was found guilty of all charges Tuesday for betting 50 billion euros ($61 billion) of a French bank's money without its knowledge.
Defense lawyers wrapped up their case Friday for French trader Jerome Kerviel, who is on trial for allegedly betting 50 billion euros ($61 billion) of a French bank's money without its knowledge.
French prosecutors demanded Thursday that trader Jerome Kerviel serve four years in jail for allegedly betting €50 billion ($61 billion) of his employer's money without its knowledge.
The trial of a French trader accused of wracking up almost $6 billion in losses through authorized trades opened in Paris Tuesday.
Fortune: The coming gold bustupdated: Wed May 19 2010 12:17:00
When gold prices turn skyward, like they did for the past two weeks before some recent flattening, some mix of greed, fear and uncertainty are likely ruling the market. What better time to remember what really drives prices over the long-term: market fundamentals. Through that lens, gold might not be such a hot investment.
The French trader accused of a multi-billion-dollar fraud at banking giant Societe Generale will go on trial next year, a lawyer for the bank said Tuesday.
Financial excitement has been in ample supply for ages. The second quarter of 2009 was no exception. Investors should hope that the dramatic rise in most of the world's stock markets in the period -- 15% or so in Europe and the U.S., almost 20% in Japan and more than 50% in some emerging markets -- marks the end of the thrills.
Oil prices settled above $70 a barrel Tuesday for the first time in seven months, as the dollar fell and expectations grew that the economy is headed for recovery.
The chairman of Societe Generale, the French bank whose reputation was hit by a massive trading scandal last year, said on Wednesday he would resign in the wake of repeated criticism over his performance.
A French trader cost Societe Generale billions, but his lawyer says there's more to the story. CNN's Jim Bittermann reports.
AIG gave in to demands from Congress Sunday, naming the banks that pocketed billions of dollars last fall as part of a federal bailout of the troubled insurer.
In the early afternoon of Sunday, Jan. 20, Daniel Bouton, the chairman and chief executive of the huge French bank Société Générale, was in his 35th-floor office preparing for a board meeting that evening when one of his lieutenants, Jean-Pierre Mustier, came to break some calamitous news. Mustier, Société Générale's head of investment banking, had already alerted him about a 31-year-old junior trader in the stock arbitrage department named Jérôme Kerviel who had been caught making big unhedged bets on European stock futures.
Investment strategist Peter Dunay discusses how one junior employee could have achieved such massive fraud.
An interim report issued Wednesday by independent board members of the French bank Societe Generale has concluded that a trader working alone was responsible for amassing trading losses that exceeded $7.2 billion.
A lawyer for the French trader accused of massive fraud at Societe Generale said bank bosses "condoned" his client's trades, contradicting bank statements that the trader acted on his own.
Fortune: Clarificationupdated: Wed Feb 13 2008 10:53:00
The individual pictured on the cover of the February 18, 2008 issue of FORTUNE magazine and his employer have no connection to Societe Generale, and Fortune did not mean to imply any connection, or to comment in any way on his or his employer's professional abilities.
Societe Generale on Monday launched a heavily discounted €5.5 billion (around $8 billion) rights issue as it attempts to fill a capital gap the French bank says was caused by trader Jerome Kerviel, while also lifting its net profit forecast for 2007.
Jerome Kerviel, the man at the center of a multi-billion trading scandal will be jailed while the investigation into his alleged fraud is conducted, his lawyer confirmed to CNN Friday.
A French government report into the massive losses at Societe Generale says banks should have greater suspicion about employee fraud and do a better job of notifying the government when the issue arises.
Two weeks after the scandal first broke, we still don't know exactly how Jérôme Kerviel, a lowly 31-year-old trader on the arbitrage desk at French bank Société Générale managed to build a $72 billion position in European stock index futures.
Rumors are rife in France that the beleaguered bank SociÉtÉ GÉnÉrale will be acquired by a hostile rival
The board of troubled French banking giant Societe Generale said Wednesday that chairman and chief executive Daniel Bouton will stay on despite massive trading losses of more than $7.2 billion.
The board of troubled French banking giant Societe Generale said Wednesday that Chairman and Chief Executive Daniel Bouton will stay on despite massive trading losses of more than $7.2 billion.
Concerns over the trading carried out by Jerome Kerviel, the trader accused of causing a $7.2 billion loss at Societe Generale, were raised as early as last November, a British newspaper reported Tuesday.
The French prosecutor who sought charges against trader Jerome Kerviel for a $7.2 billion loss at Societe Generale said Tuesday he plans to appeal a judge's decision to throw out a charge of fraud.
French prosecutors said Monday they plan to pursue four charges, including fraud, against the trader who allegedly carried out a $7.2 billion fraud at French banking giant Societe Generale.
French prosecutors announced Monday that they had filed preliminary charges against the rogue trader who allegedly carried out a $7.2 billion fraud at French bank Societe Generale.
French bank Societe Generale described Sunday how one of its traders allegedly carried out a $7.2 billion (€4.9 billion) fraud, how the loss came to light and what it is doing to ensure such a case does not recur.
The trader accused of making fraudulent transactions that cost Societe Generale €4.9 billion ($7.2 billion) hacked computers and used "several techniques of fraud," the French banking giant has said.
The trader accused of making fraudulent transactions that cost French banking giant Societe Generale €4.9 billion ($7.2 billion) is being questioned in the case, the French national police said Saturday.
New details emerge about the rogue trader who cost French bank Societe Generale billions. CNN's Jim Bittermann reports.
French police have visited the Paris home of alleged rogue trader Jerome Keruviel, who has been accused of costing bank Societe Generale $7.2 billion in fraudulent transactions.
French banking giant Societe Generale said Thursday it had uncovered an "exceptional" fraud case that cost it a staggering €4.9 billion ($7.2 billion).
CNNMoney: Stocks resume advanceupdated: Thu Jan 24 2008 09:32:00
U.S. stocks continued climbing at the start of trading Thursday, following up on the prior session's late-day surge.
Société Générale ranks no. 67 on FORTUNE's Global 500 this year, with $64.4 billion in revenues, up 98.8% from the previous year. The Paris, France-based company was ranked no. 152 on the 2005 list. Its 2005 profits were $5.5 billion, up 42.1% from a year earlier. 2005 was a banner year for most Global 500 companies.
Economists are again reining in estimates for hiring and economic growth, saying companies are cautious amid rising oil prices, a newspaper reported Thursday.
Lists of the largest dealers in swaps or other species of derivatives are common. But to FORTUNE's knowledge, this is the first that totals all the derivatives contracts of each dealer and presents...
FROM EUROPE to the Orient, top managers are strikingly underpaid compared with their U.S. counterparts. Chief executives of 24 U.S. companies, including Du Pont, Sara Lee, Toys ''R'' Us, and Lotus ...
Fortune: Vive la carte!updated: Mon Apr 15 1985 00:01:00
Lately the French have seemed determined to be as well known for their electronic technology as for their cuisine. A committee representing French banks has decided to provide 12 million of the cou...
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