France

Verdict for Jerome Kerviel Termed Satisfactory

After former Societe Generale, Jerome Kerviel was convicted of breach of trust; it was likely that the bank would have to pay the price for the same.

However, Alberto Valenzuela, Deputy Chief Executive of Societe Generale Private Banking (Suisse) SA and global market manager for Latin America, has made it very clear that they did not happen to lose any clients due to the same.

Zune entertainment services to be available via PCs, Windows Phone 7 and Xbox 360

Elements of Microsoft’s popular Zune music and movie services will be rolled out throughout Europe and some other countries this fall. Subscribers will be able to access the upcoming service through Xbox 360, Windows PCs and Windows Phone 7 phones.

Cardiff Council Reassures Residents of a Secure Transport System

The council of Cardiff has announced that there would be no disruptions in the transport and garbage system of the city and the residents would not face any kind of inconvenience. The GMB workers union, Cardiff has announced that they would be planning to go on a strike.

The GMB union announced plans of a strike after information leaked out that, Veolia the Company they work for is planning to leave them without a job and then re-hire them with a lower pay scale and more constricting terms and conditions.

Study: AIDS Virus Occurrence in French Gay Men Gone Overboard

In a study published on Thursday, it has been referred that the AIDS infection amongst gay men in France seems to have crossed the border line, which is regardless of seeing a plunge in the number of HIV instances in the nation, in a general level.

The French National Institute for Public Health Surveillance’s scientists have been able to find that almost 7,000 people have recently been infected with the HIV virus in the year 2008 and that the major proportion pertained to gay men.

Credit Agricole bank has seen rise in its profits

The Credit Agricole bank of France has reported a sharp rise in its profits in the first six months of this year despite of the impact of debt crisis of Greece on the bank.

As per the report, the net profit for the French bank has grown up to 849 million euros in the first six months in this year. This profit was seen despite of a 379 million euros loss in its Greek banking operation, Emporiki.

The net profit of the Credit Agricole bank stood at 379 million euros in the second quarter of this year which was up by 90% compared to the same time period of last year.

Merkel and Sarkozy say the bank tax must go ahead

Both, the President of France Nicolas Sarkozy and the Chancellor of Germany, Angela Merkel, have called for a financial transaction tax and a global bank levy. Before a summit in G20, which is to be held later this month, both the leaders would call for these issues by writing a joint letter to the president of G20.

The Finance Ministers of G20 had shown their interest to cut the bank taxes earlier this month.

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