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Bank fined over $7.8B rogue trader scandal

PARIS - France's central bank announced Friday that it has fined Societe Generale $6.3 million for "serious shortcomings" in its internal controls that led to nearly $7.8 billion in trading losses announced earlier this year. The Bank of France's ...

S&P places XL Capital on watch for downgrade

That in turn would mean bond insurers like Security Capital would be on the hook to cover claims for mortgage-backed bonds they insured. Shares of XL Capital fell $1.07, or 5.1 percent, to $19.87 during Thursday's holiday shortened trading day.

Body of Taiwan securities firm chief found in sea

Polaris Securities, founded in 1988, has more than 15 percent of Taiwan's brokered online trading industry and has assets worth T$78.45 billion ($2.58 billion)

GE credit rating cut is unlikely, analyst says

NEW YORK - General Electric Co.'s stock finished Thursday's abbreviated trading session higher after an analyst said the company is unlikely to lose its "AAA" credit rating or report another earnings shortfall. Sterne Agee analyst Nicholas P. Heymann ...

For stocks, escaping bear hinges on oil, GE

But the broader S&P 500 index on Thursday slipped into bear territory during the trading session, unable to withstand the avalanche of gloomy global economic news and profit outlooks, surging inflation fears and weakening consumer confidence.