French bank SocGen to cut 1,600 jobs in drive to lift profits “SocGen does not have a choice: increased regulation, high capital requirements and very intensive capital demand to run trading businesses make it a business not profitable,” said Clairinvest fund manager Ion-Marc Valahu. PARIS (Reuters) - Societe Generale plans to cut 1,600 jobs, mainly [...]
Engie-led consortium seals $8.6 billion purchase of Petrobras pipeline unit “It is a good diversification for Engie,” said Clairinvest fund manager Ion-Marc Valahu, whose firm owns Engie shares. “Also, Engie will benefit from growth expectations in Brazil.” PARIS (Reuters) - A consortium led by French utility Engie has won a bid for Petrobras’ TAG pipeline [...]
Credit Agricole's Q4 profits beat forecasts, meet targets a year early “The banking sector can be seen as the new utility sector. Yes, they are overcapitalised, but they have a high dividend yield and steady income stream,” said Ion-Marc Valahu, fund manager at investment firm Clairinvest, whose portfolio of European bank stocks includes Credit Agricole. [...]
Casino’s Game of Chicken: Short Sellers Persist as Stock Up (1) 2019-02-04 11:52:41.361 GMT “The shorts targeted the company and maybe they had some valid points,” Ion-Marc Valahu, the co-founder of Geneva-based Clairinvest and a Casino investor, said in a phone interview. “Casino maybe took a little too much time, but it addressed them and [...]
French consumer confidence rebounds after slump Sudip Kar-Gupta PARIS (Reuters) - French consumer confidence levels rebounded in January from a slump in the previous month, though they remained well below average as the euro zone’s second-biggest economy grapples with the impact of anti-government protests. “I have to say, I am surprised by the pick-up in [...]
French companies bruised by 'yellow vests' protests “Needless to say, you will have similar warnings from other big Paris shops. In essence the Champs Elysees has been closed every weekend for the last two months, so outlets such as LVMH and Le Bon Marché will get hit,” said Ion-Marc Valahu, fund manager at Geneva-based [...]
