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SocGen Traders Lost as Much as 200 Million Euros in Virus Rout
Societe Generale SA lost hundreds of millions of euros on stock trades during the market turmoil triggered by the coronavirus pandemic, following in the footsteps of French rival BNP Paribas SA. Traders at the Paris-based bank lost between 150 million and 200 million euros ($160 million to $215 million) on equity derivatives, according to people familiar with the matter. The losses at the equity unit took place in the first quarter and before April’s oil rout, and are likely to be cushioned by the bank’s performance in fixed income and currencies, said the people, who asked not to be named discussing private ... (full story)
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- azidane
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- Not-KPMG
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Beware of robber banks (RB), bad advisors.
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- Not-KPMG
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Beware of robber banks (RB), bad advisors.
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- Not-KPMG
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Beware of robber banks (RB), bad advisors.