"We are talking to retirement-aged clients and telling them that traditional investing won't work anymore," said Mike Sorrentino, chief investment strategist at Global Financial Private Capital, a Florida- based firm that manages more than $6 billion in assets. Investors who habitually bought bonds and bank certificates of deposit have to look elsewhere for...» Read More
SHANGHAI, June 3- China stocks fell on Wednesday morning as a dozen initial public offerings hit a market already pulled down by bank heavyweights on signs of accelerated interest rate liberalisation that threatens their margins. Banking shares sagged, after China launched certificates of deposit, paving the way for full interest rate liberalisation.
*U.S. Supreme Court allowed lawsuit to go forward. District Judge David Godbey in Dallas said on Wednesday the roughly 18,000 investors could pursue claims that Chadbourne& Parke and Proskauer Rose knew Stanford was selling fraudulent high-yielding certificates of deposit through his Antigua- based Stanford International Bank, and helped him obstruct a...
The Supreme Court ruled that the victims of former Texas tycoon R. Allen Stanford's massive Ponzi scheme can go forward with class-action lawsuits.
Portugal's top bankers have called on Europe's leaders to stop "playing with fire" and moderate their stance towards the euro zone periphery, or risk instilling alarm among bank depositors in future, the FT reports.