A Retail bank leader in France and in Europe, Crédit Agricole is a first-class partner for the economies in which it operates.

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HOT LIST

Carr Futures Said To Upset Families

The Wall Street Journal reports that several families of Carr Futures employees who lost their lives in the September 11th terrorist attacks are upset with the firm as they have been asked to give back part of the life insurance monies they received following the death of their loved ones.

Bear, Calyon, Citadel, Citigroup, Daiwa, Scotia

Reuters reports that Bear Stearns has settled a 2002 case with US regulator the Securities and Exchange Commission in which five salespeople were accused of issuing unauthorized faxes and e-mails containing sales materials about future offerings ahead of regulatory approval declaring them effective.

Credit Agricole Confirms Calyon Job Losses

Credit Agricole came out Wednesday and revealed details of its new strategic plan for Calyon, its investment banking unit. The plan confirms 500 job losses at the unit, a EUR 300 million cost-cutting exercise, a strengthening of risk management and the exit of high-risk capital markets activities.

SG Fiasco Could Lead To Thousands Of Non-French Job Losses

It's very clear that our friends across the Channel could never permit a venerable French institution like Societe Generale to fall into the hands of dreadful foreigners. So, French banks like BNP Paribas and Credit Agricole will be 'encouraged' by the French authorities to jump in should it ultimately look as if SG can no longer stand alone. The upshot ? French labour laws being what they are, there will be very few job losses back home. But over at the international investment banking operations of any merged firm, there will be carnage. A BNP Paribas / Societe Generale merger, in particular, would result in blood on foreign streets. As the French say, though, 'C'est La Vie'.

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