Reuters - Daily Investor Update

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Wednesday, August 16, 2017

Cisco's revenue falls for seventh straight quarter

(Reuters) - Cisco Systems Inc's revenue fell for the seventh straight quarter as declines in its switches and routers businesses outpaced gains at its newer software-focused divisions, such as security.

Wall Street up on Fed view but Trump agenda doubts weigh

NEW YORK (Reuters) - U.S. stocks ended up slightly on Wednesday, but off the day's highs, as worries mounted over President Donald Trump's agenda and minutes from the latest Federal Reserve meeting suggested policymakers are worried about weak inflation.

Mexican Supreme Court favors Slim's America Movil in telecom reform battle

MEXICO CITY (Reuters) - The Mexican Supreme Court on Wednesday unanimously found billionaire Carlos Slim's telecom firm America Movil SAB de CV should not be barred by law from charging its rivals interconnection fees, in a setback to a reform intended to curb the firm's dominance.

Fed's Mester says U.S. rate hikes should continue despite weak inflation

NEW YORK (Reuters) - Cleveland Federal Reserve Bank President Loretta Mester said the recent weakness in U.S. inflation has not convinced her the Fed should delay plans for further interest rate hikes in an economy she feels remains on track for steady growth and rising wages.

Black banker sues Goldman Sachs for racial discrimination

(Reuters) - A black banker in Goldman Sachs Group Inc's personal wealth management unit filed a lawsuit on Wednesday accusing the firm of steering top clients to her white colleagues and denying her promotions because of her race.

Carmakers win brief reprieve from lawsuits over faulty Takata air bags

(Reuters) - Automakers on Wednesday won a temporary reprieve from lawsuits filed by victims of defective air bags made by bankrupt Takata Corp that led to the largest-ever auto safety recall and at least 18 deaths.

Stocks flat, dollar falls on Trump chaos, Fed minutes

NEW YORK (Reuters) - Wall Street indexes cut gains on Wednesday and the dollar reversed course on turmoil in Washington and U.S. Federal Reserve meeting minutes that showed worries about low inflation.

GM's Maven may compete with Lyft and Uber in ride services

(Reuters) - General Motors Co's Maven car sharing and rental unit could wind up competing with two of its biggest customers, Uber Technologies and Lyft Inc, with an ambitious expansion plan that could take it eventually into ride and delivery services.

Ackman says owned stake in Hilton, a previously unnamed bet

BOSTON (Reuters) - Investor William Ackman said on Wednesday his hedge fund had bought and sold a stake in Hilton Worldwide Holdings, identifying the portfolio company that recently earned him a double digit return.

Fed policymakers grow more worried about weak inflation: minutes

WASHINGTON (Reuters) - Federal Reserve policymakers appeared increasingly wary about recent weak inflation and some called for a halt to further interest rate hikes until it was clear the trend was transitory, according to the minutes of the central bank's last policy meeting.