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Have you heard the news? A new contagion is turning formerly healthy private equity firms into the walking dead. It’s not fungal, like in “The Last of Us,” a virus, like in “28 Days Later,” nor a magical reanimation like the original Haitian Vodou Zombis.Instead, it’s the result of a…

Good morning. Happy 249th birthday, America — not that we’re counting! — with warm regards from London.As the BI Today team is off for the holiday, I’m bringing you an abbreviated version of the newsletter.In today’s big story, why Fourth of July celebrations may be more muted than you’re expecting…