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RIO 2016 Headlines

Business Watch: A first for Verizon

Verizon reported its first-ever quarterly loss of subscribers, even as it offered an unlimited data plan in an attempt to fend off smaller rivals like T-Mobile US and Sprint.

Business Watch: Goldman, IBM earnings disappoint

Goldman Sachs usually outshines rivals when it comes to trading revenue, but not this quarter. The Wall Street behemot fell short of expectations due to a drop in trading revenue, prompting analysts to demand explanations.

Business Watch: A deal that falls short, flight overbooking and more

Billionaire investor Carl Icahn's oil refining company, CVR Energy, made a massive bet last year that prices for U.S. government biofuels credits would fall - just before Icahn became an 'unpaid adviser' to President Trump. The strategy looked prescient at the time, but it now seems like Icahn's might have had an inside edge.

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Trump's 'big announcement' on tax to be broad principles: official

WASHINGTON President Donald Trump's promised "big announcement" next week on overhauling the U.S. tax code, a top campaign pledge, will consist of "broad principles and priorities," an administration official said on Saturday.