Word: rale
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Dates: during 2000-2009
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...Even before the economic crisis, the French had made something of an antihero of Jérôme Kerviel, a young, rogue trader who lost $7.2 billion of the Société Générale bank's money in early 2008. He too had his moment in the Internet spotlight - there are still about 200 Kerviel fan groups on Facebook and websites selling T-shirts with phrases like "I am Jerome's girlfriend." These may see a surge in popularity now that Kerviel's fraud trial is set to resume next year in Paris after...
...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...
...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...
...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't be looking at a V-shaped recovery...
...French winemakers fear that the new rules will allow any producer to mix their surplus whites and reds, flooding the market with cheap, poor-quality rosé. "We are shocked by these plans," says Eric Rosaz, director general of the Association Générale de la Production Viticole, France's winemakers' association. "We have our own traditions in France, and we want to protect them. We want to ensure that French rosé remains a quality product and is recognized as such. But this proposal could force thousands of winemakers out of business...