Skip to main content

Global Business

Our Top Stories from an Extraordinary Year

This year, many of our most-read articles examined aspects of two monumental events shaping society: the COVID-19 pandemic and the resurgent Black Lives Matter movement. 

A collage of artwork from multiple articles
  • How do you manage a global financial crisis?

    When hedge fund Long-Term Capital Management plummeted toward bankruptcy in September 1998, its potential dissolution threatened the financial markets with disaster. Herb Allison, then the president of Merrill Lynch, was one of the few people in a position to avert a crash landing, but first he had to get a cranky coalition of competitive bankers and traders lined up behind his bailout plan.