Jul 23, 2019

Venezuela hit by widespread blackouts

Caracas is one of several places in Venezuela hit by a massive power cut. Photo: Yuri Cortez/AFP/Getty Images

Caracas and other parts of Venezuela were plunged into darkness after a massive power cut Monday night, AFP reports.

Why it matters: It's brought back fears of a return to blackouts that left millions of Venezuelans without water and communications access in March, per AP, which notes President Nicolás Maduro's government has again accused opponents of sabotaging the hydroelectric power system in the latest outage. The opposition blamed government mismanagement.

Go deeper: Power outages across Venezuela have left Maduro wobbling

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Dion Rabouin
29 mins ago - Economy & Business

How small businesses got stiffed by the coronavirus pandemic

Illustration: Aïda Amer/Axios

The story of American businesses in the coronavirus pandemic is a tale of two markets — one made up of tech firms and online retailers as winners awash in capital, and another of brick-and-mortar mom-and-pop shops that is collapsing.

Why it matters: The coronavirus pandemic has created an environment where losing industries like traditional retail and hospitality as well as a sizable portion of firms owned by women, immigrants and people of color are wiped out and may be gone for good.

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Kyle Daly, Ashley Gold, Sara Fischer
2 hours ago - Technology

Apple's antitrust fight turns Epic

Illustration: Aïda Amer/Axios

Millions of angry gamers may soon join the chorus of voices calling for an antitrust crackdown on Apple, as the iPhone giant faces a new lawsuit and PR blitz from Epic Games, maker of mega-hit Fortnite.

Why it matters: Apple is one of several Big Tech firms accused of violating the spirit, if not the letter, of antitrust law. A high-profile lawsuit could become a roadmap for either building a case against tech titans under existing antitrust laws or writing new ones better suited to the digital economy.

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Courtenay Brown
3 hours ago - Economy & Business

Survey: Fears grow about Social Security’s future

Data: AARP survey of 1,441 U.S. adults conducted July 14–27, 2020 a ±3.4% margin of error at the 95% confidence level; Chart: Naema Ahmed/Axios

Younger Americans are increasingly concerned that Social Security won't be enough to wholly fall back on once they retire, according to a survey conducted by AARP — in honor of today's 85th anniversary of the program — given first to Axios.

Why it matters: Young people's concerns about financial insecurity once they're on a restricted income are rising — and that generation is worried the program, which currently pays out to 65 million beneficiaries, won't be enough to sustain them.

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