Societe Generale

Societe Generale News

• Glencore Said to Raise $8.3 Billion Oil Financing With Vitol

  Updated 1 hour, 3 minutes ago

  Glencore International Plc and Vitol SA, the world’s two biggest oil traders, raised $8.3 billion in loans to fund their crude-purchase deal with OAO Rosneft, according to three people with knowledge of the matter.

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  German Ifo Sentiment Rises for First Time Since February

  Updated 10 minutes ago

  German business confidence increased in May for the first time in three months, adding to signs that growth in Europe’s largest economy is gathering pace.

• Schneider Electric Said to Seek 1 Billion-Euro Loan Refinancing

  Updated 3 hours ago

  Schneider Electric SA, the world’s biggest maker of low- and medium-voltage equipment, is raising a 1 billion-euro ($1.3 billion) credit line to refinance existing debt, three people with knowledge of the matter said.

• Australia Lures $21 Billion Bet on Coal Rebound: Energy Markets

  Updated 41 minutes ago

  Coal’s worst slump in seven years has failed to deter GVK Group and Adani Enterprises Ltd. from pressing ahead with a $21 billion bet on Australia’s Galilee Basin as other companies shelve projects amid rising costs.

• Treasuries Set for Fourth Weekly Loss Before Durable Goods Data

  Treasuries headed for a fourth week of losses before data forecast to show durable goods orders and consumer confidence rose, backing the case for the Federal Reserve to slow stimulus.

• German Ifo Sentiment Probabaly Remains Unchanged

  German business confidence was probably unchanged in May after two monthly declines amid doubts over the economic recovery.

• Brent at Three-Week Low as China Manufacturing Shrinks

  Brent crude dropped for a third day, to its lowest intraday price in three weeks as manufacturing in China shrank and U.S. gasoline stockpiles increased.

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  Commodities Drop on Double Blow of China Data, Bernanke R

  Commodities fell for a third day, paced by declines in copper and oil, as manufacturing in China unexpectedly shrank for the first time in seven months and the head of the Federal Reserve hinted that stimulus may be tapered.

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  Credit Risk Surges From Three-Year Low on Slowing Growth Concern

  The cost of insuring European corporate debt rose from a three-year low as disappointing Chinese manufacturing data triggered concern global economic growth will slow.

• China Stocks Drop Most in Month on Manufacturing, Japan Selloff

  China’s stocks fell the most in a month, led by material and consumer-discretionary companies, after a report showed an unexpected contraction in manufacturing and Japanese equities plunged the most since 2011.

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  Ben S. Bernanke

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