In this special two-part series, John Stepek and Merryn Somerset Webb tell the extraordinary story of John Law: a fugitive Scots gambler who became the most powerful financier in France and helped invent the modern monetary system. From murder and exile to paper money, banking revolutions and spectacular collapse, Law’s life reveals why today’s financial system works the way it does—and why it sometimes blows up. It’s history, scandal and monetary theory rolled into one irresistible tale.

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On this week's markets roundup, hosts Merryn Somerset Webb and John Stepek look back at an unexpectedly strong year for global markets, with equities, gold and even silver delivering standout performances. They dig into whether 2025’s surprising rotations—from US mega-caps to value, energy and long-ignored small caps—could carry into next year, and what persistent inflation, UK rate cuts and shifting attitudes toward net zero might mean for investors.

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In this episode of Merryn Talks Your Money, Merryn Somerset Webb sits down with veteran financial planner Hamish Leng to unravel one of the trickiest issues in personal finance: how to pass wealth to your children without undermining their drive, confidence, or future independence. From the psychology of raising financially capable kids to the smartest, tax-efficient ways to gift money, Hamish shares four decades of insight into what actually works for families.

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