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The Latest Breaking News from Société Générale

Macron's 'second brain' Kohler exits Élysée for top banking role

President Emmanuel Macron's chief of staff and closest adviser Alexis Kohler is leaving the Élysée Palace this week for a top role at banking giant Société Générale, ending an eight-year partnership that shaped France's political landscape.

Radio France Internationale

Major Banks Advance Blockchain Use With Digital Cash, Stablecoins

Citi and Société Générale are making strides in blockchain technology in traditional banking.

Benzinga

Private Credit Tokenization Hits $650 Million Monthly, Setting A New Benchmark

The private credit market is witnessing a transformation as blockchain technology enables tokenization at an unprecedented pace.

Benzinga

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French banks accused of continuing to finance tobacco industry

Several French banks, including Société Générale, have financed the tobacco industry to the tune of over $5 billion since 2018, an anti-smoking group claimed in research published Wednesday.

Radio France Internationale

There's a 'silver lining' to China's 'deflationary cloud'—they can 'export' lower prices to the West in a win-win scenario, according to Société Générale's Albert Edwards

“The ‘West’ wants lower inflation, while China (and Japan) wants higher inflation. There is a deal to be done and maybe all parties can benefit," Edwards wrote.

Fortune

France is Europe’s biggest supporter of ‘carbon bomb’ projects, data shows

French banks have financed $154bn to firms running biggest fossil fuel projects since 2015 climate pact

The Guardian - UK

Forget about that hot GDP report—small companies are being ‘garroted’ by the ‘7 Fed Horsemen of the Apocalypse,’ top strategist warns

Société Générale’s Albert Edwards believes “greedflation” boosted pandemic profits, but now that’s over, and AI optimism isn’t enough to stave off a collapse.

Fortune

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Top strategist sees ‘echoes of the 1987 crash’ in today’s stock market. ‘All you can do is brace yourself and hope for the best'

Société Générale’s Albert Edwards said that while some economists are expecting a soft landing his “view is that a recession still lurks.”

Fortune

America has avoided a recession. But don’t thank the Fed—thank the corporate sector, says top strategist

"It is indeed a mad, mad world," says Société Générale's Albert Edwards. “What on earth is going on? Something very strange has happened…”

Fortune

Tax optimisation: when the banking sector challenges the spirit of fiscal law

On March the 28, 2023, in Paris, the offices of five major banks – BNP Paribas, Société Générale, Natixis, HSBC and Exane (a subsidiary of BNP Paribas)- - were raided as part of preliminary investigations opened in 2021 for suspected tax fraud and tax laundering. These investigations, ordered by the…

The Conversation

‘We may be looking at the end of capitalism’: One of the world’s oldest and largest investment banks warns ‘Greedflation’ has gone too far

Albert Edwards, an economist at the 159-year-old investment bank Société Générale, says corporate greed may call for the unthinkable: Price controls.

Fortune

Global banks pledged to cut emissions – but still invest billions on US gas exports

Many banks promised to work toward net-zero emissions – but their targets explicitly exempt liquefied natural gas projects

The Guardian - US

French prosecutors raid banks in tax fraud case

Five of France's biggest banks are facing scrutiny in an ongoing investigation into possible tax fraud. BNP Paribas and Société Générale were among the lenders whose Paris offices have been raided by French prosecutors. They're accused of helping facilitate tax avoidance related to dividend payments. Also in the show -…

France 24

Prosecutors raid French banks in multi-billion-euro tax fraud investigation

French authorities have raided the Paris offices of five banks suspected of tax fraud as part of a widening European investigation of a scheme that allowed investors to avoid paying billions of euros in tax.

Radio France Internationale

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Benzinga

Citigroup Negotiating With Local Bidders For Its Russian Operations: FT

Citigroup Inc (NYSE:C) is in talks with local buyers in Russia over a potential sale of its operations in the country, the Financial Times reported, citing people familiar with the matter. The bank is in negotiations with privately-owned Russian companies, including Expobank and insurance company Reso-Garantia for the divestiture, the report said.…

Radio France Internationale

French bank Société Générale loses billions in Russian pull-out

French banking group Société Générale has announced that it is ceasing activities in Russia and selling its majority stake in the indigenous operation Rosbank, French firms have been urged to leave Russia in the wake of Moscow's invasion of neighbouring Ukraine.

Radio France Internationale

Decathlon becomes latest French company to pull out of Russia

French sporting chain Decathlon has said it's suspending store operations in Russia, days after Ukraine called for a boycott of French companies still working there.

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