Government debt’s new world order

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Oct. 2, 2024

Lazard's headquarters in New York.  Photographer: Michael Nagle/Bloomberg

Read the story For decades, Lazard Inc. dominated the rarefied world of government debt restructuring, flying into countries drowning in debt and helping to rescue them from financial ruin.  Now, this business is getting tougher for everyone — even the 175-year-old company whose executives played a role in financing the California gold rush in the 19th century, saving New York City from near bankruptcy in the 20th and restructuring Greece's debt in the 21st. Demands from China and debt investors are adding pressure — and the competition is getting more vigorous, including from Lazard's own former bankers. Read The Big Take

Listen to the podcast In the first and only vice presidential debate of the 2024 US election cycle, Tim Walz and JD Vance's biggest surprise for the American people was just how respectful they kept the conversation. On today's episode, Bloomberg senior editor Wendy Benjaminson joins host Sarah Holder to break down key moments – from the cordial to the confrontational – and what Vance and Walz's performances mean for their tickets. In case you missed it… On Tuesday, Big Take host David Gura sat down with Dan Williams, a reporter in Bloomberg's Jerusalem bureau, and Joumanna Bercetche in Dubai to discuss the latest escalations in the Middle East and look at the possible repercussions for the region and the US. Subscribe and listen on iHeart, Apple and Spotify.

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