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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.

The NFL warms up to betting

Photo: Jim McIsaac/Getty Images

Starting this season, NFL teams in states with legal sports betting will be allowed to have in-stadium betting lounges and accept sponsorships from sportsbooks and betting operators, per multiple reports.

One caveat: There will not be any physical betting windows in the lounges, so they're more "hangout spots for bettors" than an actual "places to make bets."

Go deeperArrow5 hours ago - Sports

Coronavirus shakes the global economy

Health workers spray disinfectant in Seoul on Feb. 24. Photo: Chung Sung-Jun/Getty Images

New cases of the novel coronavirus have rocked asset prices in Japan, South Korea and Italy, as those nations and others have ratcheted up emergency efforts to contain the outbreak.

What's happening: Asian stock markets continued to tank overnight, as South Korea's Kospi dropped nearly 4%, Australia's ASX fell by 2.3% and Hong Kong's Hang Seng declined by 1.8%. MSCI’s index of Asia-Pacific stocks outside Japan touched its lowest since early February.

In photos: Trump visits Taj Mahal after massive rally in India

President Trump and first lady Melania Trump at the Taj Mahal. Photo: Mandel Ngan/AFP via Getty Images

President Trump visited India's Taj Mahal on Monday, hours after telling a massive crowd at a rally in Ahmedabad that he hopes to reach a trade deal with his "true friend" Prime Minister Narendra Modi during his two-day visit to the country.

Why it matters: The countries are forging deeper ties as India’s location, size and economic growth make it the "obvious counterweight to China" for American policymakers.

Go deeperArrowUpdated 6 hours ago - World

Coronavirus stress tests drug industry's dependence on China

A Hong Kong commuter wears a face mask. Photo: Miguel Candela/SOPA Images/LightRocket via Getty Images

It's unclear whether the rapid spread of the novel coronavirus will actually result in prescription drug shortages, but it has undoubtedly highlighted the potential vulnerabilities of having the supply chain for American drugs so dependent on China.

Driving the news: About 150 prescription drugs — including antibiotics, generics and some branded drugs without alternatives — are at risk of shortage if the coronavirus outbreak in China worsens, per two sources familiar with a list of at-risk drugs compiled by the Food and Drug Administration.

Go deeperArrow7 hours ago - Health

The evidence doesn't back Democrats' panic that Bernie can't win

Bernie Sanders and his wife Jane at a rally in Austin on Sunday. Photo: Drew Angerer/Getty Images

Lots of Democrats are in full panic that Bernie Sanders will win the nomination and get clobbered in the general election — and bring the party down, too. But the evidence, particularly the polling, doesn't back those doomsday warnings.

Why it matters: Virtually every national and swing state poll shows Sanders tied with or beating President Trump.  And, unlike every rival, he has a huge base of fervent, unshakable supporters he can only grow.

These swing voters don't like Trump’s environmental rollbacks

Illustration: Sarah Grillo/Axios

Swing voters in four battleground states decisively oppose President Trump's sweeping rollbacks of environmental regulations — but it's unlikely to sway their votes.

Why it matters: It's voters living in states like these, including Florida and Pennsylvania, who fill pivotal roles electing America's presidents, so we should listen.

Focus group: What some Florida swing voters think of Bloomberg

Illustration: Aïda Amer/Axios. Photo: Chesnot/Getty Contributor

PORT ST. LUCIE, Fla. — Some swing voters here are unbothered by the way Michael Bloomberg is spending heaps of his own money to help him win the race — but they're split over whether they'd actually vote for the New York billionaire over President Trump.

Why it matters: Bloomberg is the only Democrat who was even slightly intriguing to these voters. They're happy with Trump and don't feel like they recognize the current Democratic Party relative to when they voted for Barack Obama.

Coronavirus spreads to more countries as cases in South Korea surge

Afghanistan, Kuwait and Bahrain each reported their first cases of the novel coronavirus, Al Jazeera first reported, as infections in South Korea, Italy and mainland China continued to increase on Monday.

The big picture: As South Korea and Italy stepped up emergency measures in efforts to thwart the spread of the virus, World Health Organization officials expressed concern about infections with no clear link to China. COVID-19 has killed at least 2,620 people and infected almost 80,000 others, with all but 27 deaths occurring in mainland China.

Go deeperArrowUpdated 10 hours ago - Health

Joe Biden places second in Nevada caucuses, ahead of Pete Buttigieg

Joe Biden at a Nevada Caucus watch party in Las Vegas on Saturday. Photo: Ronda Churchill/AFP via Getty Images

Former Vice President Joe Biden secured second place in the Nevada Democratic caucuses with former Southbend Mayor Pete Buttigieg third, according to NBC News projections Sunday.

Why it matters: It's a boost for Biden, who's expected to be endorsed by House Majority Whip Jim Clyburn (D-S.C.) on Wednesday, ahead of this week's South Carolina primary.

Go deeperArrowUpdated 15 hours ago - Politics & Policy

Sanders accuses AIPAC of providing a platform for "bigotry"

Bernie Sanders during a campaign rally in Austin, Texas, on Sunday. Photo: Drew Angerer/Getty Images

The American Israel Public Affairs Committee issued a scathing statement after Sen. Bernie Sanders tweeted he refuses to attend AIPAC's conference because he's concerned it provides a platform "for leaders who express bigotry and oppose basic Palestinian rights."

Why it matters: Sanders' statement on why he won't attend the pro-Israel lobby group's March 1–3 conference in Washington, D.C. — which AIPAC called an "odious attack" — comes a day after he comprehensively won the Nevada caucuses, making him the clear front-runner in the Democratic presidential race.

Judge dismisses Roger Stone's request to remove her from his case

Roger Stone. Photo: Chip Somodevilla/Getty Images

The federal judge who sentenced President Trump's longtime adviser Roger Stone said his legal team provided no "factual or legal support" that would disqualify her from the case as she rejected the request Sunday.

Why it matters: U.S. District Judge Amy Berman Jackson, who sentenced Stone to 4o months in prison last week for crimes including obstruction of justice, lying to Congress and witness tampering, is considering his request for a new trial amid allegations of juror bias. But she dismissed suggestions she should be removed, saying the "pleading appears to be nothing more than an attempt to use the Court's docket to disseminate a statement for public consumption that has the words 'judge' and 'biased' in it."

Read the court order:

Go deeper: Nearly half of Republicans support pardoning Roger Stone