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☆ Employees ‘didn’t work as hard’ when remote during Covid, billionaire CEO says
▼ + stars: | 2023-10-26 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Private-equity billionaire Stephen Schwarzman doesn’t think office workers worked hard enough during Covid-19. “It was actually more profitable for them to stay home because one, they didn’t work as hard, regardless of what they told you. For example, about 58% of Manhattan office workers were at their workplace on an average weekday in late August and September, according to a survey from the Partnership for New York City. Just 12% of Manhattan office workers are in the office full time, according to that survey. Schwarzman, the Blackstone CEO, estimated that 20% of US office buildings are vacant and another 20% are leased but empty.

Persons: Stephen Schwarzman doesn’t, they, Slack, Blackstone, ” Schwarzman, Jamie Dimon, ” DImon, ” Dimon, “ Organizations: New, New York CNN —, Blackstone, “ Davos, Commonwealth Fund, Future Investment, JPMorgan, Partnership Locations: New York, Saudi Arabia, Manhattan, New York City

☆ Blackstone's Stephen Schwarzman says remote workers 'don't work as hard' and profit from working from home
▼ + stars: | 2023-10-25 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Stephen Schwarzman said remote workers "don't work as hard regardless of what they tell you." Schwarzman added that remote workers profit because they save on commuting and meals. AdvertisementAdvertisementBillionaire Stephen Schwarzman said on Tuesday that people benefited from remote work because they can save on commuting and meals while not having to work as hard. During Tuesday's panel discussion, Schwarzman said the prevalence of remote working could result in more vacant office buildings. AdvertisementAdvertisementSchwarzman, whose remarks were first reported by Bloomberg on Tuesday, isn't the only business executive who's criticized remote work.

Persons: Stephen Schwarzman, Schwarzman, —, Blackstone, who's, Jamie Dimon, Elon Musk, Musk Organizations: Blackstone, Saudi Arabia's Future Investment Initiative, Service, Bloomberg, JPMorgan, KPMG

A Saudi man's reflection is seen in mirror glass at the Future Investment Initiative conference, in Riyadh, Saudi Arabia, October 25, 2022. Geopolitical tensions heightened by the Middle East conflict pose the biggest threat to the world economy, World Bank President Ajay Banga said. The conflict could upset the stability of the Middle East just as regional powerhouse Saudi Arabia pours hundreds of billions of dollars into a vast economic transformation plan. Saudi Arabia is putting U.S.-backed plans to normalise ties with Israel on ice, two sources familiar with Riyadh's thinking said, signalling a rapid rethinking of its foreign policy priorities as war rages between Israel and Hamas. The last year has seen Saudi Arabia spend billions on companies, from sports to gaming to aviation.

Persons: Ahmed Yosri, Ajay Banga, Banga, Laurence Fink, Fink, Goldman Sachs, David Solomon, JPMorgan's, Jamie Dimon, Jane Fraser, Ray Dalio, Dalio, Noel Quinn, Bill Winters, Barack Obama, Yasser al, Salomon, Hess, Stephen Schwarzman, Schwarzman, Prince Mohammed bin Salman, Joe Biden's, Richard Attias, Rosario, Amanda Cooper, Alun John, Michael Georgy, Anousha, John O'Donnell, Susan Fenton Organizations: Future Investment Initiative, REUTERS, Rights, Saudi Arabia's, Hamas, BlackRock, Bridgewater Associates, HSBC, Former U.S, U.S, Saudi Telecom Corp, Telefonica, Investment Fund, Chevron, Blackstone Group, Investment Initiative, Saudi, FII, Reuters, Jorgelina, Thomson Locations: Saudi, Riyadh, Saudi Arabia, Rights RIYADH, Israel, Davos, Swiss, Gaza, Europe, Asia, London

☆ Davos in the Desert: Jamie Dimon and other bankers visit Saudi Arabia as Israel-Hamas war rages
▼ + stars: | 2023-10-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

Dubbed “Davos in the Desert,” the annual Future Investment Initiative (FII) will welcome about 6,000 participants from more than 90 countries over the next three days. Since the Hamas assault on October 7, Israel has widened its offensive against the Palestinian militant group and other regional enemies. Saudi Arabia’s crown prince Mohammad bin Salman, denied any personal involvement in Khashoggi’s murder but later confirmed it was carried out by Saudi officials. Bin Salman chairs the Public Investment Fund. “Very few people” had canceled plans to attend the conference, according to Richard Attias, the CEO of the FII Institute, the event’s organizer.

Persons: Jamie Dimon, Citigroup’s Jane Fraser, Defense Lloyd Austin, Larry Fink, Goldman Sachs, David Solomon, Noel Quinn, Ray Dalio, Stephen Schwarzman, Harvey Schwartz, Blackstone, Carlyle, “ We’re, it’s, ”, Fraser, Fink, “, Karen E, WeWork, Slack, Jamal Khashoggi, Saudi Arabia’s, Mohammad bin Salman, Bin Salman, bin Salman, Masayoshi, Richard Attias, Young, — Winston Lo, Michelle Toh Organizations: London CNN, “, Future Investment Initiative, Defense, Palestinian, Israel Defense Forces, West Bank, HSBC, Citigroup, Saudi, Public Investment Fund, Columbia University’s Center, Global Energy, CNN, Reliance Retail, Softbank’s Vision, Future Investment, FII Institute, Young of Columbia University Locations: Saudi Arabia, Israel, “ Davos, Gaza, Lebanon, Riyadh, Ukraine, Europe, United States, Washington, Russia, Saudi, Istanbul, Kingdom, Hong Kong

Making mistakes doesn't feel great, but they can provide some lessons you might not have learned otherwise. We asked this year's rising stars of Wall Street to open up about the biggest missteps of their careers so far and what they took away from them. Some shared their rookie errors — like slamming their laptop shut after forgetting to save their first big pitch deck or duplicating a trade — while others gave more reflective answers about how early career mistakes impacted their paths. We've got to iterate and change how we do things, and I think that's helped our team's process a lot. So my mistakes also brought me here, and everything that has been a mistake is always a learning experience.

Persons: there's, Luis Arteaga, David Trinh, you'll, Michael Dunn Goekjian, Tori Gilliland, didn't, It's, Andrew Almeida, Thoma Bravo I've, I've, Nadim Laiwala, Rachel Hunter, Goldman, Kristen Powers, Morgan Stanley, Sarah Sigfusson, Shanta Wu, Fred Michel, who's, Morgan, Neil Kamath, Rachel Barry, Chris Dell'Amore, We've, that's, Peter Gylfe, Ricky Mewani, Dominic Rizzo, Rowe Price, Lillian Qian Lin, of, Steve Schwarzman, Peter Peterson, Stephen Schwarzman, Blackstone, Patrick McGoldrick, Katya Brozyna, Michael Wilkinson, Yi Yi, Wells, Luna McKeon, —, Anne, Victoire Auriault, Goldman Sachs Organizations: Barclays, Delta, Barclays Bridgewater Associates, Bridgewater Associates, Apollo Management, Thoma Bravo, Moelis, US, Bank of, Fidelity, JPMorgan, BlackRock Blackstone, Citadel, Blackstone, Jefferies, Citadel Securities, Blue Owl, Goldman Locations: Bank, Evercore, Wells, Americas

☆ The first tour inside Manhattan's newest private club, with $100,000 membership fees
▼ + stars: | 2023-09-25 | by ( Robert Frank | ) www.cnbc.com time to read: +9 min

A rendering of a bar area at the Core Club, a private membership club in Midtown Manhattan. A rendering of a terrace at the Core Club, a private membership club in Midtown Manhattan. A rendering of the Core Club, a private membership club in Midtown Manhattan. A rendering of the Core Club, a private membership club in Midtown Manhattan. A rendering of a dining area at the Core Club, a private membership club in Midtown Manhattan.

Persons: Casa Cipriani, Zero, Aman, Casa, Jeff Zalaznick, We've, restauranteur Nick Jones, Jennie Enterprise, Bond, Scott Sartiano, Kim Kardashian, Pete Davidson, Gigi Hadid, Zalaznick, Chef Michele Brogioni, Giorgio Armani, Mauro Pompili, Stephen Schwarzman, Roger Goodell, Tory Burch, Steven Roth, Estee, William Lauder Organizations: ZZ's Club, Core, ZZ's, Major Food Group, Aman, Industry, Soho House, CNBC, Club Club, Club New York, Dangene Institute, Manhattan, Enterprise, Blackstone, NFL Locations: Manhattan, Midtown, New York, Los Angeles, Miami, Vicente, Midtown Manhattan, Hudson, Aman, York, U.S, London, Soho, Milan, San Francisco

[1/3] Director Craig Gillespie poses during the gala presentation of "Dumb Money" at the Toronto International Film Festival (TIFF) in Toronto, Ontario, Canada September 8, 2023. Dumb Money captures the behind-the-scenes of one of the biggest Wall Street stories of COVID that hooked retail investors and created a mutiny by grabbing the attention of professional investors on social media. It chronicles the battle between institutional and retail investors when Reddit-inspired small traders rose up against Wall Street by buying shares of GameStop (GME.N) en masse, creating large losses for short sellers. With the tagline "Dear Wall Street ...," the movie is "very front and center" and is timely in discussing the topic of wealth disparity in America, Gillespie said. Teddy Schwarzman declined to comment on how his familial ties to Wall Street affected the production of "Dumb Money."

Persons: Craig Gillespie, Carlos Osorio, Craig Gillespie's, Gillespie, Paul Dano, Pete Davidson, America Ferrera, Vincent D'Onofrio, Nick Offerman, Shailene Woodley, Seth Rogen, Kenneth Griffin, Steven Cohen, Aaron Ryder, Teddy Schwarzman, Stephen Schwarzman, Jenna Zucker, Nivedita Balu, Sandra Maler Organizations: Toronto, Film, REUTERS, Rights, GameStop, America, Wall, Blackstone Group, Thomson Locations: Toronto , Ontario, Canada, America

☆ What Wall Street is telling employees about returning to the office, from Goldman Sachs to JPMorgan and Blackstone
▼ + stars: | 2023-09-04 | by ( Kaja Whitehouse | Michelle Abrego | ) www.businessinsider.com time to read: +11 min

According to Goldman's chief economist, Jan Hatzius, some 25% of all US workers work from home at least part of the week. So, which Wall Street firms are still letting employees work from home at least part of the time? On days employees are in, the firm focuses on taking "advantage of our shared location," it reads. At that time, the firm called for its employees to come into the office a minimum of three days a week. Since then, most employees have been in the office throughout the week, according to a person familiar with the firm.

Persons: Goldman Sachs, David Solomon, Citadel's Ken Griffin, Joe Biden, Jan Hatzius, Hatzius, Jamie Dimon, Goldman, Goldman Sachs Goldman Sachs, —, Dimon, JPMorgan Gretchen Ertl, Jane Fraser, she's, Fraser, they're, Citigroup Patrick, Fallon, Brian T, Moynihan, Bank of America Shannon Stapleton, Reuters Morgan Stanley Morgan Stanley's, James Gorman, Gorman, Gorman doesn't, Morgan Stanley, we're, James Gorman SAUL LOEB, Larry Fink, Larry Fink Spencer Platt, Citadel's Griffin, Griffin, Raj Mahajan, Ken Griffin, Milken, Mike Blake, Blackstone, Stephen Schwarzman Roy Rochlin, Nir Bar Dea, Izzy Englander's Organizations: JPMorgan, Blackstone, Morning, Citadel, Bloomberg, Business, Deloitte, JPMorgan JPMorgan, Goldman, Citigroup, Street, Bank, Economic, Getty Images Bank of America Bank of, Bank of America, Reuters, Getty, BlackRock BlackRock, Yards, Labor, Fox, BlackRock, Citadel Securities, Blackstone Blackstone, Bridgewater Bridgewater Associates, Bridgewater Associates, Bridgewater Locations: Citadel, Davos, Switzerland, New York City

☆ Nvidia CEO Jensen Huang is now worth about $46 billion – more than Ken Griffin or Stephen Schwarzman
▼ + stars: | 2023-08-24 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

Its stock keeps rising, making CEO Jensen Huang about $4 billion richer. He's now worth about $46 billion, per Bloomberg, making him one of the world's 25 wealthiest people. The stock surge is making Nvidia's CEO, the leather-jacket-wearing Jensen Huang, even richer. AdvertisementAdvertisementHuang's now about $4 billion richer, bringing his net worth to about $46 billion, Bloomberg reported. That's a rise of about $32 billion rise this year, reflecting the 229% rise in Nvidia stock – the best performer on the S&P 500 index.

Persons: Jensen Huang, Ken Griffin, Blackstone, Stephen Schwarzman . Huang, it's, Read Organizations: Bloomberg, Service, Nvidia, Citadel Locations: Wall, Silicon, Santa Clara

☆ Watch CNBC's full interview with Blackstone CEO Stephen Schwarzman
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Blackstone CEO Stephen SchwarzmanBlackstone chairman and CEO Stephen Schwarzman joins 'Squawk Box' to discuss becoming the first private equity firm to hit $1 trillion in assets, real estate market, politics, Fitch's U.S. rating downgrade, and more.

Persons: Stephen Schwarzman Blackstone, Stephen Schwarzman Organizations: Blackstone Locations: U.S

☆ Blackstone CEO Stephen Schwarzman on reaching $1 trillion milestone, real estate and economy
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackstone CEO Stephen Schwarzman on reaching $1 trillion milestone, real estate and economyBlackstone chairman and CEO Stephen Schwarzman joins 'Squawk Box' to discuss becoming the first private equity firm to hit $1 trillion in assets, real estate market, politics, Fitch's U.S. rating downgrade, and more.

Persons: Stephen Schwarzman Locations: U.S

☆ Fitch downgrade of long-term U.S. debt completely justified, Blackstone's Schwarzman says
▼ + stars: | 2023-08-04 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Blackstone CEO Stephen Schwarzman said Fitch Ratings had ample reason to downgrade long-term U.S. debt. The downgrade from Fitch was the first since Standard and Poor made a similar move in 2011. Schwarzman agreed with the reasoning behind the Fitch downgrade. Schwarzman added that the U.S. remains the supplier of the world's reserve currency, which should provide some confidence to investors who might otherwise view the downgrade with concern. "The U.S. is the U.S. — we are the reserve currency, [and] we do defend a large part of the world, including people who have AAA's," Schwarzman said.

Persons: Stephen Schwarzman, Fitch, Schwarzman, CNBC's, We've Organizations: Blackstone, AAA Locations: U.S

☆ Blackstone CEO Stephen Schwarzman on Fitch downgrade: The numbers justify it, regrettably
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackstone CEO Stephen Schwarzman on Fitch downgrade: The numbers justify it, regrettablyBlackstone chairman and CEO Stephen Schwarzman joins 'Squawk Box' to discuss becoming the first private equity firm to hit $1 trillion in assets, real estate market, politics, Fitch's U.S. rating downgrade, and more.

Persons: Stephen Schwarzman, regrettably Blackstone Organizations: Fitch Locations: U.S

☆ Getting an entry-level job at Blackstone is harder than getting into Harvard, says Steve Schwarzman. Here's how to ace an interview and land a job there.
▼ + stars: | 2023-07-21 | by ( Casey Sullivan | Reed Alexander | ) www.businessinsider.com time to read: +2 min

Getting a job at private equity giant Blackstone is getting more competitive. In 2020, Insider spoke with president Jon Gray to learn how to stand out and land a job Blackstone. The billionaire that built Blackstone doubts he'd land a job at the private equity titan today. "Getting an entry-level job at Blackstone is 12 times harder than getting into Harvard. So how exactly do applicants dead-set on working for the firm land one of its highly-prized entry-level gigs?

Persons: Jon Gray, Blackstone, Stephen Schwarzman, That's, I'd, Schwarzman, —, Gray, Blackstone's cofounders, Pete Peterson, couldn't, Here's Organizations: Blackstone, Morning, Wall Street, Harvard, University of Pennsylvania, Wall Locations: New York, Chicago

☆ Tech bros and Wall Street billionaires are indulging anti-vaxxer RFK Jr.'s presidential dreams
▼ + stars: | 2023-07-19 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Silicon Valley and Wall Street stars are indulging Robert F. Kennedy Jr.'s presidential campaign. RFK Jr. has said that vaccines cause autism – and the White House recently blasted him for sharing anti-Semitic conspiracy theories. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. This isn't the first time parts of Wall Street and Silicon Valley have backed an anti-establishment firebrand. In both 2016 and 2020, big names like venture capitalist Peter Thiel and Blackstone CEO Stephen Schwarzman backed Republican candidate Donald Trump.

Persons: Robert F, Kennedy Jr, Jack Dorsey, SPAC, Chamath Palihapitiya, Bill Ackman, Kennedy, Jr, Twitter's, who's, Bill Ackman – who's, Jamie Dimon, –, Ken Fisher, Mark Gorton, Chamath, David Sacks, Palihapitiya, Ackman, he'd, Peter Thiel, Stephen Schwarzman, Donald Trump Organizations: Twitter, RFK, White House, Service, CIA, Democratic, Pershing Square Capital Management, Fisher Investments, Research, CNBC, vax, Children's Health Defense, PayPal, Blackstone, Republican Locations: Silicon, Wall, Silicon Valley

☆ These are the 10 highest-paid CEOs in the U.S.—some pull in over $200 million a year
▼ + stars: | 2023-07-05 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

The highest-paid CEOs aren't all at major tech companies. Chief executives at Pinterest, Peloton and Hertz are out-earning Apple's Tim Cook, according to a new analysis published by the Wall Street Journal. The median pay for S&P 500 leaders dropped to $14.5 million last year, down from $14.7 million in 2021. Blackstone CEO Stephen Schwarzman topped the list of highest-paid leaders with a total compensation package of $253 million. The next CEO on the list, Sundar Pichai of Alphabet, Google's parent company, took home $226 million in 2022.

Persons: aren't, Hertz, Tim Cook, Stephen Schwarzman, Sundar Pichai Organizations: Pinterest, Wall Street, Wall, Bureau of Labor Statistics, Blackstone Locations: U.S

☆ As U.S. and Chinese Officials Meet, Businesses Temper Their Hopes
▼ + stars: | 2023-06-17 | by ( Ana Swanson | David Mccabe | ) www.nytimes.com time to read: +1 min

Foreign direct investment in China has fallen to an 18-year low. “The hope is that high-level dialogues like this can start to inject some certainty for business into an increasingly fraught and unpredictable trade relationship,” he said. Still, as one of the world’s largest consumer markets and home to many factories that supply global businesses, China exerts a powerful pull. On a visit to China this month, Elon Musk, the chief executive of Tesla and owner of Twitter, described the American and Chinese economies as “conjoined twins” and said he opposed to efforts to split them. Apple’s chief executive, Tim Cook, traveled to China in March and lauded the company’s “symbiotic” relationship with the nation.

Persons: ”, Jake Colvin, Mary Barra, Jamie Dimon, JPMorgan Chase, Stephen Schwarzman, Elon Musk, Tesla, Tim Cook Organizations: American Chamber of Commerce, National Foreign Trade Council, General Motors, JPMorgan, Twitter Locations: China, Blackstone

And while Musk has mentioned the trip in two posts since leaving, he didn't tweet once while in China. That said, after three years of harsh COVID curbs that hampered entry into China, foreign CEOs appear eager to get the lay of the land. Sixty-seven foreign business leaders attended the high-profile China Development Forum this year, although that is still 20 fewer than in 2019. The few known comments by foreign CEOs whilst they were in China have been in line with Biden's stance that he is not seeking to decouple the world's two largest economies. The foreign ministry quoted Musk as saying he was opposed to a decoupling of the U.S. and China economies which he described as "conjoined twins".

Persons: Elon Musk, Goldman Sachs, David Solomon, Musk, Goldman's Solomon, wariness, Xi, Noah Fraser, Tesla, Goldman, Joe Biden, Tim Cook, Patrick Gelsinger, Mary Barra, Stephen Schwarzman, Jamie Dimon, Christopher Johnson, JPMorgan's Dimon, Daniel Russel, Brenda Goh, Joe Cash, Selena Li, Zhang Yan, David Brunnstrom, David Shepardson, Edwina Gibbs Organizations: Media, Twitter, Canada China Business Council, EU Chamber of Commerce, U.S . Department of Commerce, U.S, flashpoints, General Motors, China, China Strategies, U.S ., JPMorgan, Blackstone, Intel, JPMorgan Global China Summit, Asia Society Policy Institute, Thomson Locations: SHANGHAI, BEIJING, China, Shanghai, U.S, Washington, Beijing, Blackstone's, East, Hong Kong

☆ From Wall Street to Washington: Which finance execs would make the best public servants?
▼ + stars: | 2023-06-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

There has long been speculation that America's most-famous banker has plans to run for some sort of public office. The path from Wall Street to Washington is well worn, with plenty of high-profile executives taking up positions in the government. When most Wall Street executives were still afraid of the public cloud, she was ready to embrace it with open arms. Jon Gray — Treasury SecretaryBlackstone's president and chief operating officer has already had a brush with public office. The idea of him holding public office doesn't seem far-fetched.

Persons: Dan DeFrancesco, TikTok, I'm, we've, nabbing, Joe Biden's, Kevin McCarthy's, Jamie Dimon, Larry Downing, hasn't shied, Dimon, Dimon's, Bill Ackman, Kenneth Chenault —, Kathy Hochul, she's, Chenault, He's, Larry Fink —, We've, Larry, Fink, Adena Friedman, Friedman, Jon Gray —, Gray, Donald Trump, Gray's, Wall, Sen, Elizabeth Warren, Ken Griffin, Griffin, hasn't, Griffin hasn't, Ron DeSantis, he'll, Brian Moynihan —, Moynihan, Dan Schulman —, PayPal — he's, Taylor Swift, Kevin Mazur, Larry Fink, Franklin Templeton, It's, Rockefeller, Stephen Schwarzman, Warren Buffett, Cliff Asness, that's, Here's, Jeffrey Cane, Nathan Rennolds Organizations: JPMorgan, REUTERS, Bloomberg, American Express, Catalyst, Washington Post, BlackRock, SEC, CFTC, OCC, Nasdaq, Wall, Democrat, GOP, Florida Gov, Commerce, PayPal, Express, Virgin Mobile, Rockefeller Capital Management, Putnam Investments, Blackstone, Credit Suisse, UBS, Reuters, LinkedIn Locations: NYC, Washington, New York, Florida, Chicago, Miami, Ohio, Swiss, London

☆ Stephen Schwarzman says Blackstone has dumped office investments. Another corner of the firm kept lending billions.
▼ + stars: | 2023-05-30 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +8 min

Blackstone Mortgage Trust's $8.2 billion portfolio of office loans leaves it exposed to the sector. The Blackstone-managed firm issued about $3.3 billion of US office loans since the pandemic began. Even as clouds began to gather, Blackstone Mortgage Trust continued to lend to the office sector. In addition to managing the mortgage trust, Blackstone is among its largest shareholders. A Washington office complex shows how far values have fallenThere are ongoing issues, however, in Blackstone Mortgage Trust's portfolio.

☆ Blackstone, the massive private-equity firm, just wants to be your friendly, neighborhood lender
▼ + stars: | 2023-05-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Your friendly neighborhood lender, BlackstoneWhat's the first thing that pops into your head when you think of a regional bank? Nouriel Roubini, the famed economist known as "Dr. Doom" isn't too optimistic about the future of regional banks. Never one to miss a chance to make money, Blackstone CEO Stephen Schwarzman said his firm can "fill the void" left by regional banks tightening up their lending activity. Regional banks happen to be one of the biggest lenders in commercial real estate. Doom' is feeling bearish on regional banks.

☆ Geopolitics is shrinking India’s risk premium
▼ + stars: | 2023-05-09 | by ( Una Galani | ) www.reuters.com time to read: +7 min

They are lured by a country whose potential as an alternative investment destination to China increasingly outweighs the local challenges of doing business. India’s $3 trillion economy is forecast to grow by 6.5% this fiscal year, continuing to outpace the rest of the world. Executives and investors also see a business-friendly government that is likely to remain in power for the next half-decade. Morgan Stanley analysts and strategists expect India to become the world’s third-largest economy and stock market before the end of the decade. The India risk premium is rapidly disappearing.

☆ Opinion | Private Equity Is Gutting America — and Getting Away With It
▼ + stars: | 2023-04-28 | by ( Brendan Ballou | ) www.nytimes.com time to read: +3 min

In this case, as in nearly every private equity acquisition, private equity firm benefit from a legal double standard: They have effective control over the companies their funds buy, but are rarely held responsible for those companies’ actions. This mismatch helps to explain why private equity firms often make such risky or shortsighted moves that imperil their own businesses. But it isn’t just that firms benefit from the law: They take great pains to shape it, too. The most prominent of these benefits is the carried interest loophole, which allows private equity executives to pay such low tax rates. Instead, Congress approved an amendment that largely exempted small and midsize companies owned by private equity firms from a new corporate minimum tax.

☆ Premarket stocks: Is Big Oil running out of gas?
▼ + stars: | 2023-04-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Oil and gas stocks have been on a two-year tear, ripping ahead as natural gas prices surged due to supply chain kinks, a strong economy, and Russia’s invasion of Ukraine. What’s happening: Brutally high oil and gas prices were the talk of the town last year and one of the largest contributing factors to sky-high inflation. That’s bad news for automobile drivers, but ended up being great for the energy industry as oil prices and energy stocks are closely interlinked. Blackstone is feeling the commercial real estate slumpThe ongoing commercial real estate slowdown has a new victim: Blackstone. Profits from the sale of commercial real estate assets fell 54% to $4.4 billion, down from $9.5 billion last year.

[1/2] Goldman Sachs CEO David Solomon speaks during the Goldman Sachs Investor Day at Goldman Sachs Headquarters in New York City, U.S., February 28, 2023. REUTERS/Brendan McDermidHONG KONG/SHANGHAI, March 31 (Reuters) - A flurry of top financial executives have visited China for the first time since the COVID-19 pandemic as global financial giants seek to cement their relations with Beijing at the start of President Xi Jinping's new term. International financial institutions and investors are welcome to expand in China, the chairman of the country's securities regulator said. Goldman Sachs' Solomon and Blackstone (BX.N) CEO Stephen Schwarzman met Peng Chun, chairman of China Investment Corporation (CIC), this week, according to official social media posts from the $1.35 trillion sovereign wealth fund. Meanwhile, Chip Kaye, Warburg Pincus's CEO, met Beijing's major Yin Yong during his visit to the city last week, according to a municipal statement from Beijing.

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