May 29, 2019

White House announces U.S.-Israel-Russia security summit

National security adviser John Bolton will hold a summit with his Russian and Israeli counterparts in Jerusalem in June, the White House announced today.

Why it matters: Israeli Prime Minister Benjamin Netanyahu mentioned the summit in his speech tonight in which he acknowledged his failure to form a new governing coalition. With Israel now set for new elections in September, Netanyahu used the White House statement as the beginning of his campaign. He said he was able to get Trump and Putin to sign on to an "unprecedented" summit.

What to watch: The White House statement said the three national security advisers will discuss regional security issues. But Israeli officials involved in the initiative said Netanyahu mainly wants to use this meeting to get the U.S. and Russia to cooperate on a solution that will push Iranian forces out of Syria.

Go deeper: Israel headed for new elections after Netanyahu fails to form coalition

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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.