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NEWS
September 17, 1999 | From Times Wire Services
The World Jewish Congress, seeking restitution for survivors of the Holocaust, asked a group of U.S. state and local finance officers Thursday for help in reaching settlements with Austrian and French banks.
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BUSINESS
April 3, 2000
* HSBC Holdings, in the biggest cross-border takeover in European banking, agreed to buy Credit Commercial de France for $10.5 billion to boost business with wealthy investors and companies. The purchase of France's sixth-largest bank would give HSBC 1 million more clients and "makes us a serious player in the euro zone for the first time" said Sir John Bond, HSBC Chairman. London-based HSBC, which once functioned as the central bank of Hong Kong, is expanding in Europe and the U.S.
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BUSINESS
June 17, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
A federal judge on Tuesday dismissed a French bank from the $1.2-billion civil fraud and racketeering suit against former Lincoln Savings & Loan owner Charles H. Keating Jr. and those who helped him allegedly bilk investors. U.S. District Judge Richard M. Bilby in Tucson determined that lawyers for investors in Keating's American Continental Corp. had not proved that Societe d'Analyses et d'Etudes Bretenneau shared any blame in the nation's worst S&L failure.
NEWS
December 21, 1999 | DAVAN MAHARAJ, TIMES STAFF WRITER
U.S. authorities are investigating whether a French government-owned bank broke California and federal laws when it acquired the assets of the failed Executive Life Insurance Co. of Los Angeles in the early '90s. The deal has resulted in some $2.5 billion in profits for the bank and other French firms while leading to billions in losses for Executive Life policyholders and other individuals. Former top-ranking officials of Credit Lyonnais, a Paris-based bank, are being investigated by the U.S.
BUSINESS
August 19, 1993 | From Times Staff and Wire Reports
Frenchman Appointed to Head European Bank: Jacques de Larosiere was named new president of the European Bank for Reconstruction and Development. The governor of the Bank of France brings an austere reputation to the East European development bank that differs greatly from that of his predecessor, Jacques Attali. As head of the Washington-based International Monetary Fund for eight years in the 1980s, De Larosiere, 63, won plaudits around the globe for his handling of the world debt crisis.
BUSINESS
October 6, 1988 | From Reuters
The Bank of France said it has coordinated the rescue of a Paris-based bank with Middle East connections, Al Saudi Banque SA, after it lost around $315 million. The statement said the Saudi Arabian group Hariri, the main shareholder of Dutch-based Al Saudi Bank Holding NV, which in turn had held a 99.9% stake in the Paris bank, had injected funds into it, but did not give the amount. Outlines of the rescue were settled at the central bank after several meetings, a Bank of France spokesman said.
BUSINESS
November 3, 1992 | From Reuters
The French government offered a ray of hope to the flagging economy Monday by cutting its benchmark interest rate for the first time in more than a year. The Bank of France said it was taking advantage of a recovery in the franc and favorable inflation and balance-of-payments trends to reduce its money market intervention rate to 9.35% from 9.60%. It also trimmed its other main lending rate, for five- to 10-day repurchase agreements, by a quarter point to 10.25%. With 10.
NEWS
January 20, 1997 | From Times Wire Reports
Angry employees holding the top executives of the Credit Foncier bank dug in their heels on the third day of a standoff with the French government over job security and the fate of the bank. Several hundred employees occupying the Paris headquarters of the property lender announced they would open the bank for business as usual today but still bar the captive executives from leaving. They allowed bank governor Jerome Meysonnier to hold a news conference inside the bank.
BUSINESS
April 3, 2000
* HSBC Holdings, in the biggest cross-border takeover in European banking, agreed to buy Credit Commercial de France for $10.5 billion to boost business with wealthy investors and companies. The purchase of France's sixth-largest bank would give HSBC 1 million more clients and "makes us a serious player in the euro zone for the first time" said Sir John Bond, HSBC Chairman. London-based HSBC, which once functioned as the central bank of Hong Kong, is expanding in Europe and the U.S.
NEWS
December 10, 1987 | STANLEY MEISLER, Times Staff Writer
Riot police swinging truncheons rushed into the Bank of France before dawn Wednesday and forced aside a mass of striking workers to lead two besieged bank officials out of the venerable building. The show of force, which, ironically, came on a day when workers throughout France were electing representatives to traditional courts that try to settle labor disputes peacefully, infuriated French labor unions and seemed to harden the nine-day-old strike.
NEWS
September 17, 1999 | From Times Wire Services
The World Jewish Congress, seeking restitution for survivors of the Holocaust, asked a group of U.S. state and local finance officers Thursday for help in reaching settlements with Austrian and French banks.
BUSINESS
August 28, 1999 | From Associated Press
French banking authorities ruled today that hostile bidder Banque Nationale de Paris cannot keep its stake in its target, Societe Generale, effectively ending BNP's hopes of creating Europe's largest bank in terms of assets. "Taking into account the results of the takeover bid offer, BNP "doesn't hold in a patent manner an effective power of control over Societe Generale," the Committee of Credit and Investment Institutions said after an 11-hour meeting that began Friday afternoon.
BUSINESS
February 24, 1998 | Bloomberg News
Societe Generale agreed to buy New York-based brokerage Cowen & Co. for about $615 million in cash, expanding the French bank into the U.S. stock business. The bank, Europe's fifth-largest, will pay $324 million at the time of sale and an additional $216 million over three years to Cowen's 100 partners. It will also pay $75 million in deferred compensation as part of a package to retain key employees.
NEWS
January 20, 1997 | From Times Wire Reports
Angry employees holding the top executives of the Credit Foncier bank dug in their heels on the third day of a standoff with the French government over job security and the fate of the bank. Several hundred employees occupying the Paris headquarters of the property lender announced they would open the bank for business as usual today but still bar the captive executives from leaving. They allowed bank governor Jerome Meysonnier to hold a news conference inside the bank.
BUSINESS
August 19, 1993 | From Times Staff and Wire Reports
Frenchman Appointed to Head European Bank: Jacques de Larosiere was named new president of the European Bank for Reconstruction and Development. The governor of the Bank of France brings an austere reputation to the East European development bank that differs greatly from that of his predecessor, Jacques Attali. As head of the Washington-based International Monetary Fund for eight years in the 1980s, De Larosiere, 63, won plaudits around the globe for his handling of the world debt crisis.
BUSINESS
November 3, 1992 | From Reuters
The French government offered a ray of hope to the flagging economy Monday by cutting its benchmark interest rate for the first time in more than a year. The Bank of France said it was taking advantage of a recovery in the franc and favorable inflation and balance-of-payments trends to reduce its money market intervention rate to 9.35% from 9.60%. It also trimmed its other main lending rate, for five- to 10-day repurchase agreements, by a quarter point to 10.25%. With 10.
BUSINESS
September 8, 1992 | JACK SEARLES
With U.S. lenders continuing to shy away from construction projects, a Thousand Oaks-based developer, Meeker Land & Development Co., has turned to a French bank, Banque Sofal, to finance two new residential projects in northwest Oxnard. Banque Sofal is providing $30 million in credit for the twin development of moderately priced houses at Vineyard Avenue and Ventura Road. "We think European financing will become a trend among U.S. developers," said Richard K.
NEWS
December 21, 1999 | DAVAN MAHARAJ, TIMES STAFF WRITER
U.S. authorities are investigating whether a French government-owned bank broke California and federal laws when it acquired the assets of the failed Executive Life Insurance Co. of Los Angeles in the early '90s. The deal has resulted in some $2.5 billion in profits for the bank and other French firms while leading to billions in losses for Executive Life policyholders and other individuals. Former top-ranking officials of Credit Lyonnais, a Paris-based bank, are being investigated by the U.S.
BUSINESS
September 8, 1992 | JACK SEARLES
With U.S. lenders continuing to shy away from construction projects, a Thousand Oaks-based developer, Meeker Land & Development Co., has turned to a French bank, Banque Sofal, to finance two new residential projects in northwest Oxnard. Banque Sofal is providing $30 million in credit for the twin development of moderately priced houses at Vineyard Avenue and Ventura Road. "We think European financing will become a trend among U.S. developers," said Richard K.
BUSINESS
June 17, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
A federal judge on Tuesday dismissed a French bank from the $1.2-billion civil fraud and racketeering suit against former Lincoln Savings & Loan owner Charles H. Keating Jr. and those who helped him allegedly bilk investors. U.S. District Judge Richard M. Bilby in Tucson determined that lawyers for investors in Keating's American Continental Corp. had not proved that Societe d'Analyses et d'Etudes Bretenneau shared any blame in the nation's worst S&L failure.
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