Societe Generale headquarters searched in Panama probe

A French Bank Societe Generale logo is seen on the facade of their building in ParisFrench tax police searched Societe Generale&;s headquarters this week as part of an investigation into offshore accounts revealed by the Panama Papers, the bank said on Sunday. The searches on April 5 were a "normal development in the context of such an investigation", a spokesman for the bank said, declining to comment further. According to the Journal du Dimanche newspaper, the searches were ordered to try to identify holders of offshore companies set up by the bank via Panamanian law firm Mossack Fonseca.

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Austalian bank boss says insurer got it wrong on heart attacks

shCommonwealth Bank CEO Ian Narev speaks as Chief Financial Officer David Craig listens on during a media conference at the company's headquarters in Sydney, AustraliaBy Peter Gosnell SYDNEY (Reuters) – The head of Australia&;s largest bank said its insurance business, CommInsure, had used an outdated and discredited definition of a heart attack to deny some claims from clients and he would apologize to any customers adversely affected. "I am saddened and disappointed by the handling of these cases," Ian Narev, chief executive officer of the Commonwealth Bank of Australia, said in a statement on Saturday. Narev&039;s comment came as a joint Fairfax-Four Corners investigation revealed that CommInsure was reviewing its use of the definition of a heart attack and may have been aware since mid-2014 that it was no longer best practice.

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FDA to revoke pig drug approval over human cancer risk concern

FDA Commissioner nominee Califf testifies at nomination hearing in Washington(Reuters) – The U.S. Food and Drug Administration on Friday moved to revoke approval of a drug used to treat certain conditions in pigs because it could leave cancerous residue that could affect human health. The drug, carbadox, is made by Teaneck, New Jersey-based Phibro Animal Health and is used to control swine dysentery and bacterial enteritis, the agency said. "Potential cancer risks are based on an assumed lifetime of consuming pork liver or other pork products containing carbadox residues," the agency said in a statement, adding that it is not recommending that people change their food choices while it works to remove the drug from the market.

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