Jan 31
Societe Generale head is saved
The French government has vowed to defend the crisis-hit bank, Societe Generale, from any hostile takeover. But analysts warn the state has limited power to protect the troubled giant from market predators after a loss of 4.82 billion euros in a trading scandal. Bank chief Daniel Bouton has shaken off rumours of his ouster; the bank’s board of directors “unanimously reaffirmed its confidence” in him during a crisis meeting on Wednesday.
