In the mid-1990s, we began thinking about how to solve an emerging problem: American workers weren't saving enough for retirement. At the time, traditional pension plans were starting to disappear, and it was clear that most workers would need help saving enough on their own. Flash forward to today and that inability to save has become a serious societal problem: More than half of American workers might not have enough money in retirement to maintain their standard of living, according.
The White House is preparing to roll out a long-delayed infrastructure rebuilding plan in January, as President Donald Trump's advisers bet that voters want a $1 trillion road-and-bridge-building plan-even though it is opposed by some lawmakers. Mr Trump's advisers are putting finishing touches on a plan to direct federal spending of $200 billion or more-funds it would propose to offset with cuts elsewhere in the federal budget-to leverage hundreds of billions more from local governments and private investors to.
European Union officials said the US is threatening to cripple global commerce by undermining the World Trade Organization, ahead of a gathering of officials from 164 countries on Sunday in Buenos Aires. EU officials said the US is pulling back from its position as the world's pre-eminent guardian of free trade, and that the resulting lack of broader ambition among WTO members will likely make the trade gathering unproductive.
The world trading system confronts a new power vacuum, with out-of-date rules and no driving force spearheading any effort to update them. That's in large part because of the shifting American position on trade. The US has flipped from being chief advocate to lead skeptic of the World Trade Organization, leaving the guardian of globalization without its primary champion. That new dynamic will be on display at the group's biannual meeting, starting Sunday in Argentina.
The front-month bitcoin futures contract XBTc1 on the Chicago-based CBOE Futures Exchange surged past $17,000 on Monday, the first day of trading. The January contract opened at $15,460 in New York on Sunday evening, before leaping to a high of $17,170 during Asian hours. They were last quoted at $17,120, a more than $1,000 premium to the price on Gemini Exchange.
The government of Qatar and British weapons maker BAE Systems PLC have finalized a multibillion deal for 24 combat jets, continuing a weapons buying spree by the Middle East country. BAE Systems on Sunday said the two sides have entered a roughly GBP5 billion ($6.7 billion) contract for the Eurofighter Typhoon combat jets, training and related items. Qatar and the British government this summer first disclosed the potential deal over the sale of two-dozen of the combat planes. The contract would include weapons provided.
A snowstorm that pushed across London on Sunday brought Heathrow Airport, one of the busiest in the world, to a virtual halt as airlines canceled numerous flights and planes were stranded at gates. Some people boarded planes and waited for hours on the tarmac, only to have their flights canceled. Passengers waited for hours in lines that wound through the airport to speak with airline representatives.
This has prompted some couriers to rethink what they are offering and how their messages are reaching different customers. UPS said it expected to deliver 750 million packages between Thanksgiving and New Year's, a 5 percent increase over last year. That has prompted a variety of initiatives aimed at the end customer, said Louis DeJianne, UPS's vice president of retail marketing.
Uber will defend its right to operate in London in a court hearing on Monday after the app was deemed unfit to run a taxi service and stripped of its license in its most important European market. Regulator Transport for London (TfL) shocked the Silicon Valley firm by rejecting its license renewal bid in September, citing its approach to reporting serious criminal offences and background checks on drivers.
Mr Muller stopped short of calling for a quick end to the subsidies, and he may have just been acknowledging reality. Diesel began to lose popularity after studies by the governments of France, Germany and Britain showed that the diesel cars from almost all manufacturers polluted much more than advertised. Though only Volkswagen has been accused of criminal behavior, many others exploited weak enforcement and loopholes in regulations.
Live with Kelly and Ryan, a syndicated program carried mainly by ABC affiliates, averages more than 3 million viewers. That's 650,000 more than the number tuning in to the third hour of Today, a lead that has grown since Ms Kelly joined NBC. Live also has a big lead among viewers in the 25- to 54-year-old age group prized by sponsors. Ms Ripa, a former soap opera actress, joined Live in 2001 as Mr Philbin's co-host, replacing Ms Gifford.
Mediaset's (MS.MI) chief executive said he hoped the shared interest over TV content with Telecom Italia (TIM) (TLIT.MI) could pave the way to a truce with France's Vivendi (VIV.PA), speaking in a interview published late on Sunday. TIM needs our content, it is very interested in an agreement, but there is a pending matter with their controlling shareholder Vivendi, CEO Pier Silvio Berlusconi told Italian daily Corriere della Sera. Let's see if these common interests on content will help us overcome difficulties, he added.
Britain's Labour Party is considering moving some of Bank of England's functions to Birmingham, from its current home in Threadneedle Street in the City of London, according to an interim report on the British financial system released on Sunday. Launched by the opposition Labour Party's finance policy chief John McDonnell, the report was led by consultants GFC Economics. The report's main recommendations included establishing BoE offices in Glasgow, Cardiff and Belfast, along with two smaller regional offices in Newcastle and Plymouth.
There aren't dominant giants born of megamergers, like the ones between Comcast and NBC Universal, and Verizon and AOL. Even so, telecom operators in Europe have tried to take advantage of some of the gray areas in the rules. The few regulatory disputes that have arisen in Europe have mostly involved big telecom companies that steer users to Facebook and other services. Mr Pai dismantled zero ratings protections in the United States even before he unveiled the plan to undo net neutrality rules entirely.
Now we have an administration that is very skeptical of it, and some would say has tried to undermine it. China's entry into the organization in 2001 accelerated the hollowing out of American manufacturing jobs, as imports of cheap Chinese products boomed. Late last month, the United States said it would join the European Union in an action involving China about that very matter. The question, trade analysts say, is what the Trump administration would do if the World Trade Organization rules against these policies.
This week, central banks around the world will make their final monetary policy decisions of 2017, while a round of economic readings could help shape their outlooks going into 2018. TUESDAY: The Federal Reserve begins its two-day policy meeting. Officials have signaled they are likely to vote to raise their benchmark short-term interest rate by a quarter percentage point at the meeting.