Only 45% of workers participate in employer-sponsored retirement plans, Bloomberg Businessweek reports. That's why a handful of states like Oregon are launching programs that automatically enroll workers in a plan that diverts 5% of their earnings into an individual retirement account. Employees can opt out of the plan, or adjust their contribution.
Why it matters
: Social Security
pays
on average just $1,369 per month, making self-directed savings necessary for seniors to enjoy a middle class standard of living. But most workers don't save and many have no access to employer sponsored plan.
Jet.com, a popular discount online retailer which Walmart bought last year for $3.3 billion, plans to begin selling groceries as well as clothing from niche fashion brands Walmart has recently acquired, the Wall Street Journal reports.
Why it matters: Nielsen and the Food Marketing Institute recently issued a report in which they estimate that online shopping will constitute 20% of the grocery market by 2025. Jet.com's decision, along with Amazon's recent acquisition of Whole Foods, shows that the world's most powerful retailers believe the age of the online supermarket may finally have arrived.
Twitter just got a major dose of reality in the investigation over Russian election interference. In a press conference Thursday after Twitter briefed the Senate Intelligence Committee staff, a visibly frustrated Mark Warner, the panel's top Democrat, laid into the social network for a briefing he called "frankly inadequate on almost every level." He said it pointed to a company that didn't understand the stakes.
Why it matters: Twitter and Facebook, which also briefed the committee on Russian election meddling on its platform, are finding themselves out of their depth. Lawmakers like the usually even-keeled Warner will keep hammering this issue for months to come. This is an active probe into foreign espionage — not a wonky regulatory issue that can be swept aside by savvy lobbyists.
U.S.stores have been closing at a faster rate in 2017 than at any time since the recession, an American phenomenon being dubbed "retail apocalypse." Though this has so-far been largely a worry for U.S. retailers, the Wall Street Journal reports that investors in Europe are worried that it is now spreading abroad.
Why it matters: As Amazon expands abroad and continues to win market share, expect accusations that this American juggernaut is stealing business from domestic firms and killing traditional retail.
Congressional investigations and media reports are shedding light on ways Russians use social media to cause division and chaos in the U.S.
Why it matters: The revelation that Russian actors meddled in the 2016 election through Facebook ads have led to intense scrutiny into how social media was leveraged to sow chaos and create divisions among Americans. As congressional investigations ramp up and details leak out, a clearer picture is emerging of the tactics used to interfere with American democracy.
