The Traderszone Network

Gold is at its lowest level in months – and, it may be headed lower. One portfolio manager gives his suggestion on what to buy instead.

The world’s biggest bond fund, Pimco, may be about to end a net outflow of client funds that reached 22 billion euros ($30 billion) in the first quarter, its Chief Executive Douglas Hodge told a German newspaper. Parent company Allianz this month called upon the California-based asset manager to prove it can stem the outflows after they dented its own earnings.

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Donald Sterling’s approval wasn’t needed as his wife completed the $2 billion sale of the Los Angeles Clippers to former Microsoft Corp. (MSFT) Chief Executive Officer Steve Ballmer. Shelly Sterling signed a binding contract for the sale of the Clippers to Ballmer, according to a PR Newswire statement today. She was acting under her authority as the sole trustee of The Sterling Family Trust, which owns the Clippers. The sale was agreed upon five days before a vote by National Basketball Association team owners on whether to force a franchise sale.

REUTERS – Google Inc has launched a service through which European citizens can request that links to what they deem as objectionable material be taken off search results, the first step to comply with a court ruling affirming the “right to be forgotten.” The world’s largest Internet search engine, which processes more than 90 percent of all Web searches in Europe, said on Thursday that it has made available a webform through which people can submit their requests, but stopped short of specifying when it would remove links that meet the criteria for being taken down.

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BNP Paribas SA (BNP) fell the most in 15 months in Paris trading after a person familiar with the matter said U.S. authorities are seeking more than $10 billion to settle federal and state investigations into dealings with sanctioned countries including Sudan and Iran. BNP Paribas, the largest French bank, has fallen 12 percent this year, compared with a 3.5 percent increase in the Bloomberg Europe Banks and Financial Services Index. A final deal between BNP and the U.S. is probably weeks away, said the person, who asked not to be identified because the talks aren’t public.

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Some of the largest U.S. companies are looking to hire cybersecurity experts in newly elevated positions and bring technologists on to their boards, a sign that corporate America is increasingly worried about hacking threats. JPMorgan Chase & Co, PepsiCo Inc, Cardinal Health Inc, Deere & Co and The United Services Automobile Association (USAA) are among the Fortune 500 companies seeking chief information security officers (CISOs) and other security personnel to shore up their cyber defenses, according to people with knowledge of the matter.

China’s banking regulator said on Friday it was stepping up oversight to prevent risks from some failed property developers from spreading into the broader financial system, but said overall risk from property loans was controllable. The China Banking Regulatory Commission (CBRC) also urged commercial banks to work out emergency plans to mitigate risks stemming from the property sector, in a bid to ease investors’ worries that the cooling real estate market could fuel an increase in bad loans.

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