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Murchison Metals Limited (ASX:MMX) Announce Oakajee Port And Rail (OPR) Planning 45MTPA Capacity For Foundation Customers

by on March 17, 2010

Murchison Metals Limited (ASX:MMX) Announce Oakajee Port And Rail (OPR) Planning 45MTPA Capacity For Foundation Customers

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Murchison Metals Limited (ASX:MMX) Announce Oakajee Port And Rail (OPR) Planning 45MTPA Capacity For Foundation Customers

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Stephen Balkam: Sex.com To Be Auctioned: Hey, Bill Gates, How About Bidding on it?

by on March 10, 2010

One of the most valuable pieces of cyber-real estate is up for sale. According to Wired, sex.com will be auctioned on March 16 and the opening bid is a mere one million dollars. Do we really need another porn site? Can we make do with the estimated 1.3 million sex-related sites already on the web? Never mind the ever popular user-generated sites where folk upload last night’s activity for free without so much as a fee or password required. No, I think it would be an amazing piece of largess – not to mention an inspired acquisition – if Bill Gates and his Foundation, were to outbid everyone and snap up this heavily trafficked site. Then the smart folks at the Bill and Melinda Gates Foundation could convert sex.com into the world’s leading safe sex portal in an effort to stop the spread of HIV and the myriad of other sexually transmitted diseases, while also curbing the rise of unwanted teenage pregnancy. Whatever you think of online porn — whether you have a laissez-faire attitude or are an outright opponent of the stuff — the world wide web would not miss the disappearance of sex.com as a sexual shop front. What would be inspired would be the appearance of educated and fact-based messages, videos, tips and guides on how to have a wonderful and loving sex life being responsible and safe for you and your partner. Who better to deliver such a site than the man who presided first over the spread of the personal computer to every corner of the globe and who is doing his level best to give away his personal fortune, particularly to those corners where HIV/AIDS and other STD’s are so rampant. So come on, Bill, be a sport. $1M or thereabouts certainly won’t break the bank. Put a smile on our faces and a good feeling in our hearts. And, in the future, when kids land on sex.com they’ll get some real sexual education and tips that will keep them, their partners and, eventually, their own children safe. You know it’s the right thing to do.

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Stephen Balkam: Sex.com To Be Auctioned: Hey, Bill Gates, How About Bidding on it?

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Wyoming Makes Hedge Fund Real Estate Plays

February 18, 2010

Wyoming Makes Hedge Fund, Real Estate Plays 02-18-2010 | Source: Foundation & Endowment Money Management The Wyoming State Treasurer’s Office, which oversees several public endowment funds including the $7.5 billion Permanent Fund, has

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Bloggers See Gloomy Outlook For U.S. Economy, According To New Kauffman Survey

February 3, 2010

According to the Kauffman Economic Outlook , a new survey of economics bloggers, web pundits’ attitude toward the U.S. economy is markedly sober, with nearly half of the respondents (48 percent) agreeing that the economy is “worse than official government statistics show.” In the first of its new quarterly surveys , the Kauffman Foundation found that only 7 percent of economics bloggers said they believed the economy was “strong,” versus 33 percent who answered that it was “facing recession” or “weak and recessing”; the remainder of the surveyed bloggers said the was economy “mixed.” Interestingly, the bloggers were generally in favor of a more hands-off approach to economic policy. While the respondents were relatively mixed in terms of political affiliation, there was strong agreement among them that the government should intervene less , with 71 percent saying that the government was “too involved in the economy.” And only a sliver (9 percent) said business should be more regulated. Kauffman, the Missouri-based, entrepreneurship-focused foundation, designed the survey in conjunction with an advisory panel that included Grasping Reality ‘s Brad DeLong, Allison Schrager of FreeExchange and Yves Smith from Naked Capitalism . The foundation, which administered the study in mid-January of this year, invited responses from more than 200 leading economics bloggers. Tim Kane, a senior fellow at the Kauffman Foundation and the study’s author, explained that the survey targeted economics bloggers for their “unique voice” and “potentially profound influence.” It’s the foundation’s view, he said, that “their collective voice needs to be heard.” Check out some of the charts from the Kauffman Economic Outlook ‘s First Quarter 2010 report below:

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Nina Wang Fortune Awarded to Charity as Geomancer Lover Loses Court Battle

February 1, 2010

By Debra Mao (Corrects name of siblings in fifth paragraph.) Feb. 2 (Bloomberg) — Late billionaire Nina Wang ’s fortune belongs to the Chinachem Charitable Foundation Ltd., Hong Kong’s High Court ruled while rejecting a claim to the estate by feng shui practitioner Tony Chan . A 2002 will giving the money to the foundation, run by Wang’s family, was valid, Judge Johnson Lam wrote in a judgment handed down in the Court of First Instance. Chan, who provided geomancy services for Wang, said she decided to leave him her estate in a 2006 will after they became lovers. “The court pronounces for the force and validity of the last will of Nina dated 28 July 2002 and against the force and validity of the alleged last will dated 16 October 2006,” Lam wrote. The legal battle for the fortune started by Teddy Wang has gripped Hong Kong’s public for more than a decade, with accounts of kidnap, sex and feng shui rituals involving Wang, named by Forbes as Asia’s wealthiest woman in 2007. Wang wrested her husband’s estate from her father-in-law in 2005 at the city’s highest court after two lower court judgments decided against her. When she died of cancer in 2007, Chan claimed her fortune citing the 2006 will, sparking a legal fight with Wang’s siblings, who helm her charitable foundation and said they have a 2002 will that makes it the legitimate heir. The case is Chinachem Charitable Foundation Ltd. and (Tony) Chan Chun Chuen, Hong Kong Secretary for Justice, HCAP 8/2007, Hong Kong Court of First Instance. To contact the reporter on this story: Debra Mao in Hong Kong at dmao5@bloomberg.net

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Bill, Melinda Gates Pledge $10 Billion to Develop Vaccines for the Poor

January 29, 2010

By Phil Serafino and Yuriy Humber Jan. 29 (Bloomberg) — Bill and Melinda Gates said their foundation will commit $10 billion over the next decade to help develop vaccines for the world’s poorest countries, a project that may save the lives of 8.7 million children. The initiative aims to vaccinate 90 percent of children in developing nations, including new immunizations for pneumonia and severe diarrhea, the foundation said in a statement today. The funding is in addition to $4.5 billion that the charity already pledged to vaccine research and delivery. Governments and the private sector need to contribute more money as well, Gates said. “Here is where you can take a donation and really map it, see it saving lives,” Bill Gates , the co-founder and former chief executive officer of Microsoft Corp., said at a news conference in Davos, Switzerland, the site of the World Economic Forum this week. Gates’s Seattle-based charity, the world’s biggest, has made health care for the poor the focus of its work in an effort to tackle infectious diseases like AIDS, malaria and tuberculosis. The foundation has helped fund GlaxoSmithKline Plc ’s research into a malaria vaccine and has contributed to Sanofi-Aventis SA’s work on a shot for dengue fever. The foundation used a model developed at the Johns Hopkins Bloomberg School of Public Health to project the impact of vaccines on childhood deaths over the next decade. Vaccinations By vaccinating 90 percent of the population in developing countries, the deaths of about 7.6 million children under the age of 5 could be prevented in the next decade, according to the Gates foundation. An additional 1.1 million lives would be saved by the introduction of a malaria vaccine beginning in 2014, the foundation said. The United Nations will pay an average of about $2.94 a shot this year for a vaccine against five deadly childhood diseases, officials said in November. Four companies make the five-in-one shots — Crucell NV , Glaxo, Panacea Biotec Ltd and Sanofi’s Shantha Biotechnics. The shots are given to children in their first year of life to protect against Haemophilus influenzae type B, hepatitis B , tetanus, diphtheria, and pertussis. Glaxo wants to file for regulatory approval by early 2012 for its malaria vaccine, Chief Executive Officer Andrew Witty said last week. The foundation has spent $200 million developing the shot, while the company has invested $300 million, Alexandra Harrison, a Glaxo spokeswoman, said in an interview. ‘Transformative’ The Gates announcement “is transformative for research into diseases of the developing world,” Jean Stephenne , the head of Glaxo’s biologicals unit, said in an e-mailed statement today. “After clean water, vaccines are the most effective public- health intervention that can be offered in these countries.” The foundation is part of the GAVI Alliance , a health partnership from the private and public sectors that was formed 10 years ago at the World Economic Forum to reduce the price of vaccines for people in poor nations. “Investments in global immunization have yielded an extraordinary return,” Julian Lob-Levyt , the alliance’s chief executive officer, said in the statement. The alliance has saved 5 million lives by increasing access to vaccines, he said. “The potential to make bigger strides in the coming decade is even more exciting.” The Bloomberg School of Public Health, located in Baltimore, is named for New York Mayor Michael Bloomberg , founder and majority owner of Bloomberg News parent Bloomberg LP. Other charities have teamed up with vaccine manufacturers to develop immunizations for diseases that mostly strike the poor. Merck & Co. and The Wellcome Trust in September formed a not-for- profit venture in India that aims to create new immunizations and make existing vaccines more effective in the developing world. To contact the reporter on this story: Yuriy Humber in Davos at yhumber@bloomberg.net ; Phil Serafino in Paris at pserafino@bloomberg.net

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Andy Stern: A Path Forward: It’s Time to Pass Health Insurance Reform

January 20, 2010

The question on everyone’s mind today is what went wrong in Massachusetts? The tea leaf-reading and hand wringing will no doubt monopolize much of Washington’s time over the coming days and weeks. But there’s a better question for today: What’s the path forward to passing meaningful health insurance reform? For Pat Dejong and the millions of working families like her’s across the country, today is no different than yesterday when a Democratic senator held Ted Kennedy’s old seat. Pat DeJong will still wake up in Libby, Montana. She’ll still mourn the loss of her husband and the family ranch they lost because of his medical bills. And, Pat will still go to the bedside of her patients each day, still lacking coverage of her own. So what’s next for Pat? What’s next for a country frustrated by leaders who seem to be governing out of timidity versus conviction? Step one: The House should pass the Senate’s health insurance reform bill – with an agreement that it will be fixed, fixed right, and fixed right away through a parallel process. Reform can work — the Senate bill can serve as the foundation for reform and include at minimum the improvements the Administration, House, and Senate have negotiated. We cannot squander the opportunity to make real progress. The House and Senate must move forward together. And, there is no reason they cannot move forward together to make those changes through any means possible — whether through reconciliation or other pieces of moving legislation. Some in Washington may want to throw their hands up and walk away; others may call for walking back reform by passing something smaller. So let’s just say it: the Democrats own health reform. They own the votes they already took. And, they own what health reform will stand for. Most importantly, it will be a major achievement the American people need and deserve. There is no turning back. There is no running away. There is no reset button. There is a right choice: Break the political paralysis and go big. Giving up or scaling back reform is not an option. It’s not an option for our employers. It’s not an option for our deficit. And, it is certainly not an option for the millions across this country like Pat DeJong who are crying out for real change. It’s simply not an option for our country’s future. It’s time to deliver the change that the people of our country voted for in 2008 and Massachusetts voted for last night. Let’s not overcomplicate the process, let’s just make it happen. Because we cannot pause or take a step back – we have only one choice: move forward with real reform decisively and right now. For more information about SEIU’s programs and initiatives to help working families, visit SEIU.org.

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Alan G. Remedios Joins First Foundation Advisors as Managing Director of Fixed-Income Investments

December 3, 2009

IRVINE, CA–(Marketwire – December 3, 2009) – Alan G. Remedios, CFA, brings substantial experience in managing municipal bond portfolios to First Foundation Advisors (FFA). He joins FFA as Managing Director of Fixed-Income Investments for First Foundation Advisors, a subsidiary of First Foundation Inc. Remedios is responsible for actively managing the firm’s municipal bond portfolios and fixed-income strategies for both taxable and non taxable clients. While focusing on municipal bond portfolios for high net worth clients, his expertise adds tremendous value in our fixed-income strategy. His specific responsibilities will include sector analysis, security selection, credit risk analysis and on-going evaluation of opportunities.

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Roger B. Palley Joins First Foundation as Managing Director of Equity Investments

December 1, 2009

IRVINE, CA–(Marketwire – December 1, 2009) – Roger B. Palley brings experience and acumen honed by 45 years in the investment business to First Foundation , a 20-year-old financial institution providing wealth management, consulting, trust and banking services. At First Foundation’s affiliate, First Foundation Advisors (FFA), Palley will serve as Managing Director of Equity Investments. “Roger’s tremendous background and excellent track record in managing equity portfolios will complement our experienced equity team. We are very excited Roger has chosen First Foundation Advisors,” said First Foundation CEO Rick Keller , CFP®.

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World Wide Web Foundation launches global operations

November 16, 2009

World Wide Web Foundation launches global operations

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Official Agreement Signed Between Global Housing Foundation and the Government and Municipality of Panama

November 6, 2009

Homes to Be Built for Working Poor, Financed With Micro Mortgage Program Initiated by Global Housing Foundation and UN Habitat

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Obama Says Economy Is Back From `Brink,’ U.S. Must Focus on Cutting Debt

November 2, 2009

By Kate Andersen Brower and Roger Runningen Nov. 2 (Bloomberg) — President Barack Obama told his Economic Recovery Advisory Board the U.S. economy has pulled “back from the brink” and now the government must “get serious” about reducing debt. Addressing the panel of business and labor leaders and economists, the president said it will require “bold, innovative action” on the part of the government and private industry to bring the unemployment rate down and lay the foundation for future growth. “The government is going to have to get serious about reducing our debt levels,” Obama told the group headed by former Federal Reserve Chairman Paul Volcker. To contact the reporter on this story: Kate Andersen Brower in Washington at kandersen7@bloomberg.net

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Karzai Wins Second Term as Afghan President After Rival Quits Runoff Vote

November 2, 2009

By Ali Sheikholeslami Nov. 2 (Bloomberg) — Hamid Karzai will serve a second term as Afghanistan’s president after election challenger Abdullah Abdullah, a former foreign minister, dropped out of a runoff vote that was scheduled for Nov. 7, the Independent Election Commission announced in Kabul. Consistent “with the high interest of the Afghan people and to prevent uncertainty and a lot of challenges to stability and security,” the commission “declares Hamid Karzai as the next president of Afghanistan.” The Aug. 20 first round was marred by fraud. Commission officials said in a statement televised live from Kabul that after Abdullah withdrew they reached a decision by consensus to underpin the country’s security. A “free and fair” vote in the planned Nov. 7 ballot would not have been possible, Abdullah told reporters yesterday in the capital. “The Afghan people deserve a better election,” he said. Secretary of State Hillary Clinton said in a statement yesterday that the U.S. “will support the next president” of Afghanistan. Abdullah’s pullout won’t harm Karzai’s legitimacy, Clinton told reporters Oct. 31 during a visit to Jerusalem. Karzai’s submission to a second round of voting “bestowed legitimacy from that moment forward, and Dr. Abdullah’s decision does not in any way take away from that,” she said. Withdrawal ‘A Mistake’ Abdullah’s withdrawal “is a big mistake that takes away the last chance for Afghan people” to have a voice in choosing their government, said Mir Ahmad Joyenda, an Afghan legislator and head of the Foundation for Culture and Civil Society. Karzai, 51, has lost political legitimacy since his first election as president in 2004, and can only regain it “by changing his government and removing the warlords and mafias that he has joined with,” Joyenda said by phone. In the August vote, Abdullah won 27 percent to 48 percent for Karzai, according to amended results issued last month by election officials. A United Nations-backed anti-fraud commission last month invalidated more than 1 million votes, most of them for Karzai, reducing his vote tally to less than 50 percent of the total and forcing him into a runoff. In 2009, 281 U.S. military personnel have been killed in Afghanistan, a rate more than double last year’s record high, according to a count by the private monitoring group iCasualties.org. President Barack Obama is deciding whether to raise the U.S. troop commitment in the eight-year-old war beyond the 68,000 now there. Abdullah, who was born in 1960, said yesterday there is “no doubt” that more U.S. and North Atlantic Treaty Organization forces are needed to suppress the Taliban and stabilize his nation, while adding that more than soldiers will be required. To contact the reporter on this story: Ali Sheikholeslami in London at alis2@bloomberg.net

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Steve Buyer At The Center Of Foundation Funding Controversy

October 12, 2009

Monticello, has been quietly collecting hundreds of thousands of dollars in donations for the primary purpose of helping students pay for college. But the foundation, which enjoys tax-exempt status, has yet to award its first scholarship after six years in existence…

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James Boyce: iQuit

October 5, 2009

The US Chamber of Commerce is up to its eyeballs in disgruntled members and as a membership organization, perhaps it will consider the incredible amount of damage it has done to is reputation by aggressively resisting climate change initiatives and legislation. After all, here are a few of the highlights of the Chamber’s resistance, courtesy of Brad Johnson over at The Wonk Room: 2009: Chamber SVP Kovacs Calls For ‘Scopes Monkey Trial’ On The ‘Science Of Climate Change.’ “It would be evolution versus creationism. It would be the science of climate change on trial.” Chamber of Commerce Senior Vice President William Kovacs explained that the Chamber was seeking a “Scopes monkey trial of the 21st century” on global warming to prevent the EPA from declaring greenhouse gases a threat to the public welfare. [Los Angeles Times, 8/25/09] 2009: Chamber Claims No ‘Plausible Theory’ To Link ‘Climate Change With Extreme Weather Events And Disease In The United States,’ Disputes ‘Claims Of Ocean Acidification.’ In an official filing prepared by the law firm of Kirkland & Ellis for the comments on the EPA’s proposed endangerment finding for greenhouse gases, the U.S. Chamber of Commerce cited blog posts by global warming deniers such as Pat Michaels and Chip Knappenberger to challenge a broad range of climate change science, including sea level rise and the “UN/IPCC forecasted temperature increases.” [U.S. Chamber of Commerce, 8/25/09] 2009: National Chamber Foundation Promotes Global Warming Denier Book As ‘#1′ Top Book Of The Year. Promoting “Climate of Extremes: Global Warming Science They Don’t Want You to Know,” the U.S. Chamber of Commerce’s National Chamber Foundation writes: “Climatologists Patrick J. Michaels and Robert Balling Jr. explain that climate science is hardly unbiased,” and that the “pop-culture icons of climate change turns out to be short on facts and long on exaggeration.” On Twitter, the National Chamber Foundation ranked the book “#1″ in its “Top Books of ’09.” [National Chamber Foundation, 8/20/09] Of course this isn’t really surprising when the head of the Chamber has received millions in board compensation from Union Pacific, a company that is is estimated makes 20% of its revenues hauling coal . Now, however, the momentum is really moving against the Chamber and surely change must be in the air. Today, Apple, to its great credit, resigned from the Chamber because of the Chamber’s policies. From the New York Times GreenInc blog we learn that Apple was clear as to why it’s resigning . Really clear. Apple has become the latest company to resign from the United States Chamber of Commerce over climate policy. “We strongly object to the chamber’s recent comments opposing the E.P.A.’s effort to limit greenhouse gases,” wrote Catherine A. Novelli, the vice-president of worldwide government affairs at Apple, in a letter dated today and addressed to Thomas J. Donohue, president and chief executive of the chamber. Thank you Apple. And just a little note to everyone who is still hanging around and supporting the Chamber. The Chamber’s position is clear. You stay in, and keep paying dues, you are supporting their position. So should you stay or should you go? We say go. ( There’s much more on the Chamber her e, and hats off to Pete Altman of NRDC for keeping the heat turned on high. Stay in touch on that here .)

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IEF 2009 Hong Kong qualifier hosted by C Y Foundation a big success

September 29, 2009

IEF 2009 Hong Kong qualifier hosted by C Y Foundation a big success

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IEF 2009 Hong Kong qualifier hosted by C Y Foundation a big success

September 29, 2009

IEF 2009 Hong Kong qualifier hosted by C Y Foundation a big success

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Lotta Alsén: Why Does Money Make Us Crazy?

August 20, 2009

People will readily imbibe a cocktail of slugs and worms if there’s a remote chance of winning a few thousand dollars. Friends and partners, more often than not, become bitter enemies over a will, a contract or a perceived financial injustice. And people stay in jobs and relationships that are long past their due date because of financial reasons. Why does money make us crazy? Well, it’s quite simple. Money represents survival. It’s correlated to our first power, our base-line and our most primitive instinct. If something, or someone, threatens our survival, we will do what it takes to defend ourselves. Money also represents our sense of self-worth. People who have money are perceived as ‘better’ and more powerful than people with no money. In spiritual, non-profit and in a big number of women’s circles, these salient truths are often shoved under the carpet, and especially making money is represented as a necessary evil, and another piece of evidence of a consumerist money-obsessed life-style. Even in prosperity circles, the underbelly of money is seldom recognized. Instead, the focus is on ‘the laws of attraction’, ‘positive thinking’, and on how to ‘think yourself rich’, forgetting that money represents a gigantic subconscious cobweb of attachments. There’s no way we can shift our mindset before we acknowledge, and become more aware of our relationship with money and what it really means to us. It’s similar to sex. The more we repress one of our most basic needs, the uglier it gets (think the Catholic church and sexual abuse). Our first step of liberation is to acknowledge that money is the equivalent of what our ancestors saw in a fallen prey – a few weeks, or months, of survival. As long as our minds and bodies are focused on survival, we are stuck at our lowest expression of our potential. If we want to be of more service to society, we have to acknowledge that we have to first learn the skills, tools and mindset of making money. For people seeking employment as a way to ensure money-making, it’s a bit easier. They need to be sure they can package their skill sets, and passions in order to fit into a defined need by a presumptive employer, and thereby tap into an existing system. For those of us striking out on our own, as entrepreneurs or solopreneurs, it’s more challenging. We need to find out what we are passionate about and can offer that other people value and are prepared to pay for. But we also need to create the system needed to package, market and distribute our offer. And above all, if we want to be financially successful, we need to figure out how we can leverage our offer. An example of this is to ask yourself: Should I start a coffee-shop (the dream of many women), which equals small leverage, or do I build a Starbucks (the dream of many men), which equals big leverage? Money makes us crazy because we know we need it to survive, and when our survival is threatened, logic and compassion flies out the window. This doesn’t mean that money should be the focal point of our existence; to the contrary. It only addresses the most basic aspect of our humanity. Yet, unless we are incredibly enlightened, we can’t move upwards until we’ve created a foundation to build on! Stay tuned the coming weeks for learning how to create this foundation! Lotta Alsén teaches women how to make money, step into their powers and change the world. She has a MSc in International Economics, is a serial entrepreneur, business & success coach and author. Read more at http://www.quickenings.com , or follow her blog at http://quickenings.typepad.com .

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South Korea’s Lee Seeks `High-Level’ Talks With North to Improve Relations

August 14, 2009

By Seonjin Cha Aug. 15 (Bloomberg) — South Korean President Lee Myung Bak said he wants to hold a “high-level” meeting with North Korea to improve ties and help develop the impoverished nation’s economy, provided the North commits to nuclear disarmament. “My administration will come up with a new peace initiative for the Korean peninsula,” Lee said in a speech to mark the foundation of South Korea. The offer for talks is Lee’s first since he took office in February last year. After North Korea tested a nuclear weapon in May, the two Koreas have been exchanging threats of military action, ending a period of detente. North Korea released a South Korean worker on Aug. 13, following a four-month investigation over whether he had criticized leader Kim Jong Il . The North Korean leader also pardoned two U.S. journalists after former President Bill Clinton held a meeting with him in Pyongyang last week. “We will seek to hold a high-level meeting between the two Koreas to realize a common economic community in the coming years and will pursue development projects,” Lee said. North and South Korea should discuss a reduction in conventional weapons as well as ending the North’s nuclear arms program, Lee said. “Now is the time for the North and South to come to the table and talk about these issues, Lee said. “I would like to say clearly that my administration is ready to start talks and cooperation with the North over all the issues between us, at any time, at any level. To contact the reporter on this story: Seonjin Cha in Seoul at scha2@bloomberg.net .

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SocGen’s Mustier Quits Lender as French Regulator Probes Insider Trading

August 6, 2009

By Fabio Benedetti-Valentini (Corrects size of Day sales in third paragraph.) Aug. 6 (Bloomberg) — Societe Generale SA’s former head of corporate and investment banking Jean-Pierre Mustier resigned after the French stock market regulator’s sanctions commission opened a probe into possible insider trading. Mustier, who ran the unit at the time of the bank’s 4.9 billion-euro ($7 billion) trading loss in January 2008, had planned to leave by year-end, Paris-based Societe Generale said in an e-mailed statement today. He brought forward his departure “in the interests of the group,” according to the bank. Robert Day , who founded TCW Group Inc. and served as a non- executive director on Societe Generale’s board, is also under investigation by the market watchdog’s sanctions commission for insider trading, the bank said. Day and his foundation sold 45 million euros of Societe Generale shares less than a week before the trading loss, blamed by the bank on trader Jerome Kerviel , was made public, the regulator said on its Web site last year. Day and Mustier reject the allegations of insider trading, Societe Generale said in the statement. The regulator’s sanctions commission did not open proceedings against Societe Generale, the company said. To contact the reporter on this story: Fabio Benedetti-Valentini in Paris at fabiobv@bloomberg.net .

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