Sep 28, 2018

GOP super PAC ditches two vulnerable House Republicans

Colorado Rep. Mike Coffman. Photo: Larry French/Getty Images for SiriusXM

The Congressional Leadership Fund is pulling its planned TV advertising for Colorado Rep. Mike Coffman and Michigan Rep. Mike Bishop, Politico first reported and Axios has confirmed. The combined $3.1 million initially invested in these races will be redistributed elsewhere.

Why it matters: Both are tough races and Coffman's district was recently moved to favor Democrats. Moving money away from vulnerable GOP incumbents suggests that the party sees these races as a lost cause, but the NRCC is still advertising in both of them.

Go deeper: CLF has been working since February 2017 to help House Republicans in the midterm election.

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Private equity returns fell behind stocks over the past decade

Illustration: Aïda Amer/Axios

U.S. private equity returns fell just below S&P 500 returns for the 10-year period ending last June, according to a report released Monday morning by Bain & Company.

Why it matters: Private equity markets itself as beating public markets over long-term time horizons, and usually providing an illiquidity premium to boot. These new performance figures not only dent such claims, but provide fresh ammunition to critics of public pension investment in private equity funds.

Why Apple may move to open iOS

Photo illustration: Jakub Porzycki/NurPhoto via Getty Images

Apple may finally allow iPhone owners to set email or browsing apps other than Apple's own as their preferred defaults, according to a Bloomberg report from last week.

The big picture: Customers have long clamored for the ability to choose their preferred apps, and now Apple, like other big tech companies, finds itself under increased scrutiny over anything perceived as anticompetitive.