Word: soci
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...important to travelers, and when you increase the range of choice with new products, services and suppliers, you increase the number of clients who want to explore those new options," says Mireille Faugère, president of domestic and international passenger services for France's state rail company, Société Nationale des Chemins de Fer Français (SNCF). "For a company like ours - which derives 20% of its business from international travel - this liberalization is far more an opportunity than a threat...
...face of it, the two events might seem unconnected. After months of government criticism and a slew of ugly headlines, Daniel Bouton announced last week that he plans to quit as chairman of Société Générale, one of France's biggest banks. A day earlier, a meeting of shareholders in banking giant Fortis turned nasty when investors riled by the sale of ts recently nationalized Belgian banking arm lobbed shoes and other items at chairman Jozef De Mey. De Mey stood his ground, and won an eventual vote on the sale. But the twin...
...China actually rose a substantial 14% in March from a year earlier, while those to the U.S. and EU fell 31% and 22%, respectively. "China is definitely coming on line and re-activating its call on the Asia supply chain," says Glenn Maguire, chief Asia-Pacific economist for Société Générale in Hong Kong. "That's clearly a positive...
...Economists, however, warn that exports are still greatly reduced from levels seen a year ago, so the improving statistics don't necessarily herald a full-scale economic revival. Japan's March exports to the U.S., for example, were less than half the amount sold a year earlier. Société Générale's Maguire says that he is encouraged by the recent figures, but not enough to drastically alter his outlook on Asia's overall growth. "We've definitely seen the low, the worst of the collapse of demand," says Maguire, "but we shouldn...
...foreign companies also figured prominently on the list. In fact, they got nearly $60 billion at a time when U.S. firms, notably General Motors, are having to beg for federal dollars just to stay solvent. The biggest winners were French banks, including Société Général, which together scored $19 billion, and German banks, including Deutsche Bank, which got a combined $17 billion...