Mar 12, 2018

Report: U.K. prepping action against Russia after spy attack

Photo: Leon Neal / Getty Images

British Prime Minister Theresa May will chair a meeting of her National Security Council this morning, where she is expected to hear evidence from her intelligence services that Russia was behind the nerve agent attack on spy Sergei Skripal, according to a report in The Times. That could prompt the U.K. to present "retaliatory measures" to parliament within "the next 48 hours," including the expulsion of Russian diplomats, financial sanctions, and actions against this summer's World Cup in Russia.

Why it matters: A similar report in The Sun highlights the geopolitical risk that comes with the U.K.'s response: "It is suspected that [Putin] sanctioned the brazen nerve agent attack simply to goad Britain into a reaction that he can strike back against and look like a strongman standing up to the West to voters."

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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.