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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.


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.