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Societe Generale enters into a settlement agreement with the European Commission following its investigations on Euribor


Societe Generale settles with the European Commission following competition investigations into Euribor submissions. Under this agreement, it has accepted to pay EUR445.9 million in relation to events dating back to a period between March 2006 and May 2008. The events essentially relate to inappropriate conduct by one employee who left Societe Generale in September 2009. The market operator in question acted without his supervisors or the bank’s management being aware of his misconduct. Societe Generale firmly condemns such inappropriate ... Read More »

Barclays announces antitrust settlement with the European Commission


As today’s announcement from the Commission confirms, Barclays voluntarily reported the Euribor conduct to the Commission and cooperated fully with the Commission’s investigation. In recognition of this cooperation, Barclays has been granted full immunity from the financial penalties that would otherwise have applied. The information reviewed by the Commission was also considered by the Financial Services Authority, the US Commodity Futures Trading Commission and the US Department of Justice as part of the public resolutions reached with tho... Read More »

Unilever concludes the tender process for its statutory audit contract


The Chairman of Unilever’s Audit Committee, Byron Grote said: “We thank PricewaterhouseCoopers for their contribution as Unilever’s auditors and we look forward to working with KPMG going forward.” ... Read More »

MasterCard showcases the future at Miami Payment Innovation Forum


“The world is changing fast, shaped by mobile payments, digital commerce, and innovative payment solutions that are displacing cash, checks and other paper-based tender. Consumers are also evolving in the way they buy things, and our goal is to make that buying experience as simple and secure as possible,” said Gilberto Caldart, president, MasterCard LAC. During the first day of the three-day event, MasterCard brought various payment innovations to life, demonstrating the many ways it is revolutionizing the shopping experience. The showcase ... Read More »

Societe Generale awarded “Best bank for Innovation” and “Best bank for risk management” in eastern europe in Treasury Management International awards 2013


The Banking Innovation Awards, new category for 2013, recognises the high quality solution and customer service the Cash Management team at Societe Generale delivers to its clients through technology innovation and delivery of banking solutions and services. Through those two awards, TMI readers distinguish the banks who best understand the challenges in the global treasury area. This double feat highlights Societe Generale’s commitment and its achievements in delivering the most advanced and efficient services to its clients around the worl... Read More »

Western European market for Technical Consumer Goods weakens


Good sales growth across single segments was not enough to lift up the overall sales into positive territory several. The only exception was the Telecommunications market. The ongoing positive demand for smartphones was once again strong enough to compensate weaker sales in other categories and thus generated positive overall sales for the whole sector. However, there were positive indicators within a general mediocre Q3 from other markets too, which gives hope for a turnaround. Telecommunication: Smartphones continue success story Among ... Read More »

MasterCard Priceless Africa programme offers MasterCard cardholders a range of special offers and experiences


Priceless Africa, together with Priceless Arabia that was launched earlier this year, is one of two multi-country campaigns that celebrate the diversity and rich heritage of an entire region. They are part of MasterCard’s global Priceless Cities programme that was first launched in July 2011 in New York, USA. Priceless Cities has partnered with top establishments and retailers worldwide in places such as Beijing, Paris, London, New York, Toronto, and Rio de Janeiro. “The countries selected for inclusion in the Priceless Africa campaign share... Read More »

Ogone to deploy MasterPass across six European countries


MasterPass™, the digital platform from MasterCard, optimizes and simplifies online purchases made from connected devices including PCs, touchpads and smartphones. MasterPass meets consumers’ demand for convenience shopping and eliminates the need to enter detailed shipping and card information to complete their online shopping at MasterPass merchant sites that have the «Buy with MasterPass ™” button on their check out page. Consumers can securely store MasterCard and other branded credit, debit and prepaid card information, address books and... Read More »

Tackling Tax Avoidance: Commission tightens key EU corporate tax rules


The result will be that the Parent-Subsidiary Directive can continue to ensure a level-playing field for honest businesses in the Single Market without opening opportunities for aggressive tax planning. Today's proposal was foreseen in the Commission's Action Plan against tax evasion last (year IP/12/1325 ) and will be an important contribution to the on-going battle against corporate tax avoidance at both EU and global level. Algirdas Šemeta, Commissioner for Taxation said: "EU tax policy is heavily focussed on creating a better environment... Read More »

Songwon Industrial Group achieves steady progress with solid results for the third quarter 2013


Songwon Industrial Group ( is pleased to announce steady progress with improved results for Q3 and the first nine months of 2013. Sales revenues in Q3 2013 of Mil. KRW 175,800 represent an increase of 0.8% in comparison to the same period in 2012. The detailed Q3 2013 financial results report, which is compliant with Korean International Financial Reporting Standards (“K-IFRS”), can be downloaded at: Hans-Peter Wüest, Chief Financial Officer and Member of the Songwon Industrial G... Read More »

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