SocGen says writedowns and debt provisions loom

Societe Generale said on Wednesday that its quarterly earnings would be hit by hundreds of millions of euros of one-off charges.

The bank said it would write down an unspecified portion of 384 million euros (US$510.58 million) in goodwill on its balance sheet for brokerage Newedge in the fourth quarter, and would take a charge on its own debt of more than 605 million euros.

via Business feed http://www.scmp.com/business/companies/article/1129976/socgen-says-writedowns-and-debt-provisions-loom