Business Maverick: Schwarzman Sees ‘Big V’ Economic Rebound in Next Few Months

The spread of the pandemic seized up credit markets and put an end to Wall Street’s longest-ever bull market earlier this year. The damage pushed the Federal Reserve to flood the markets with trillions of dollars in stimulus, which, combined with the easing of lockdown restrictions and hopes for a fast economic recovery, have helped the S&P 500 index rally almost 40% since its March low.

Schwarzman has strong ties to China. He started a school in the country and has traveled there frequently — at times functioning as an intermediary between the Washington and Beijing governments. The billionaire has also previously advised President Donald Trump and was present in the White House when he announced the first part of the China-U.S. trade deal.

“The majority of their cash flows of Wynn comes from the Macau concession and if that were to be negotiated downwards, which is a real possibility, particularly if the trade wars continue, that would have a material effect on their cash flow and profit,” he said.Chanos also said that the current low-interest-rate environment is providing “easy money,” helping companies “that are not playing by the rules to keep the game going for a while.

Source: News Formal (newsformal.com)

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The SME Ecosystem during Covid-19: Impact, interventions and the new business normalHeather Lowe, Head of SME Development at FNB Business, shares a few tips on how entrepreneurs can continue to thrive in the new business norm.
Source: IOL - 🏆 46. / 51 Read more »

Treasury plans ‘extraordinary changes’ to spending plans to avoid sovereign debt crisis | CitypressNational Treasury is planning “serious and extraordinary changes” to its spending plans because South Africa must cut expenditure to avoid a sovereign debt crisis within the next four years, says Finance Minister Tito Mboweni
Source: City_Press - 🏆 7. / 72 Read more »

Far-reaching judgment declares BEE criteria ‘vague’Ruling will delay future cash flows to distressed businesses from the government’s Covid-19 economic relief programmes
Source: BDliveSA - 🏆 12. / 63 Read more »

Far-reaching judgment declares BEE criteria ‘vague’Ruling will delay future cash flows to distressed businesses from the government’s Covid-19 economic relief programmes
Source: BDliveSA - 🏆 12. / 63 Read more »

Teen girl’s naked body found lying on Cape Town streetYet another woman has been murdered, in a month which has seen a massive spike in cases of gender based violence
Source: TheCitizen_News - 🏆 6. / 75 Read more »

WATCH: Chef says boiling is the correct way to cook mushroomsAn American chef and mycologist Jim Fuller recently took to Instagram saying that boiling mushrooms first gives them that 'delicious, earthy, meaty' flavour. IOL_Lifestyle
Source: IOL - 🏆 46. / 51 Read more »