Daily Investor Update: Cisco posts loss on $11.1 billion tax-related charge

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Wednesday, February 14, 2018

Cisco posts loss on $11.1 billion tax-related charge

(Reuters) - Network gear maker Cisco Systems Inc posted a net loss on Wednesday due to an $11.1 billion charge related to recent changes to the U.S. tax law.

Charlie Munger urges regulators to ease off Wells Fargo, blasts bitcoin

(Reuters) - Charlie Munger, the longtime business partner of fellow billionaire Warren Buffett, said on Wednesday it is time for regulators to "let up" on Wells Fargo & Co , which will end up "better off" as it corrects a series of mistakes in how it treated banking customers.

Wall St. climbs, uncowed by inflation

(Reuters) - Wall Street surged on Wednesday as investors shrugged off stronger-than-expected inflation data and snapped up shares of Facebook, Amazon.com and Apple.

Bonds drop but stocks rally after spike in U.S. CPI

NEW YORK (Reuters) - Treasury prices fell on Wednesday after a spike in U.S. consumer prices in January raised expectations the Federal Reserve may quicken the pace of interest rate hikes, while global stocks rose as investors took a longer view of inflation.

More banks joining $14 billion debt for Blackstone's TR unit buy

LONDON (Reuters) - More banks are poised to join a $14 billion financing backing U.S. private equity firm Blackstone Group’s acquisition of a majority stake in the Financial and Risk business of Thomson Reuters Corp , banking sources said on Wednesday.

'Scorching' CPI bolsters bets on U.S. rate hikes

NEW YORK (Reuters) - U.S. interest rates futures fell on Wednesday as stronger-than-forecast increases in domestic consumer prices in January bolstered bets the Federal Reserve may raise short-term interest rates four times in 2018.

Rise in U.S. inflation puts spotlight on Fed's Powell

WASHINGTON (Reuters) - U.S. consumer prices rose more than expected in January as Americans paid more for gasoline, rental accommodation and healthcare, raising pressure on new Federal Reserve chief Jerome Powell to prevent a possible overheating of the economy.

Inflation pickup a challenge for Fed chief Powell

SAN FRANCISCO (Reuters) - Faster-than-expected inflation may complicate the task ahead for new Federal Reserve chief Jerome Powell, who chairs his first monetary policy-setting meeting next month.

Credit Suisse has strong start to 2018 after third straight loss

ZURICH (Reuters) - Credit Suisse on Wednesday was upbeat on prospects for the year ahead, as it enters the last leg of Chief Executive Tidjane Thiam's three-year overhaul, hoping to put its third straight annual loss behind it.

U.S. hiring probe casts shadow on Credit Suisse

FRANKFURT/HONG KONG (Reuters) - A U.S. investigation into whether Credit Suisse hired referrals from government agencies in Asia in exchange for business poses another reputational hurdle for CEO Tidjane Thiam as the Swiss bank enters the final stretch of a three-year turnaround plan.

Daily Investor Update: Cisco posts loss on $11.1 billion tax-related charge

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