Merryn Talks Money

Latest Episodes:

Ed Conway on the Hidden Supply Chains That Run the World Sep 14, 2026

Show notes

Merryn Somerset Webb speaks with Ed Conway, economics and data editor at Sky News and author of Trade World, about the vast and often invisible supply chains behind the things we buy. They discuss whether decades of globalisation have made economies more resilient or dangerously dependent, China’s manufacturing advantage and whether the UK and Europe can rebuild their industrial base without giving up the cheap goods consumers have come to expect.

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Markets Wrap: Bessent's Big Bet, Bond Yields and the AI Bubble Sep 11, 2026

Show notes

Britain’s bond yields are the highest in the G7, as renewed inflation pressures collide with rising defense costs and a government reluctant to make politically painful spending choices. This week, John Stepek is joined by Bloomberg macro strategist Simon White to discuss whether markets will ultimately force Britain’s hand, what Scott Bessent’s interventions mean for US Treasuries and the yen, and whether the AI boom is getting closer to a correction.

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Live From Fringe: What Adam Smith Can Teach Us About Debt and Power Sep 08, 2026

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In this episode of Merryn Talks Money, host Merryn Somerset Webb is joined live at the Edinburgh Festival Fringe by Bloomberg Opinion columnist Adrian Wooldridge, former British ambassador Nick Hopton and Orbis Investment Management Chairman Alec Cutler to ask what Adam Smith can teach us about today's rapidly changing economic order.

The panel considers rising government debt, the growing relationship between states and powerful companies, and whether the AI investment boom could follow the same pattern as previous market bubbles. They also discuss what it all means for investors, from the impact on gold and government bonds to the implications for energy stocks and, specifically for the UK, the future of the North Sea.

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Live From Fringe: What Adam Smith Would Say of Bond Market Turmoil Sep 04, 2026

Show notes

Host Merryn Somerset Webb is joined by Interactive Investor CEO Richard Wilson, Anna MacDonald, investment strategy director at Hargreaves Lansdown, and Russell Napier, financial historian and Keeper of the the Library of Mistakes for the second installment of panel discussions at Panmure House during the 2026 Edinburgh Festival Fringe.
The panel discussed the state of global bond markets, how policymakers seem incapable of thinking about second-order consequences and the fiscal constraints facing the UK government.
Original Music Composed by Mint Sherbets

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Live from Fringe: What Adam Smith Can Teach Investors About AI and Investing Sep 02, 2026

Show notes

In this episode of Merryn Talks Money, host Merryn Somerset Webb is joined by Bloomberg senior reporter John Stepek, Schroders Head of Strategic Research Duncan Lamont and Nelsons Chairman and Creative Scotland Chair Robert Wilson for a special roundtable recorded at Panmure House during the Edinburgh Festival Fringe. Marking 250 years since the publication of The Wealth of Nations, they ask what Adam Smith can teach the world about artificial intelligence, government intervention and investing.
The panel discusses whether policymakers interfere too much in markets, why holding too much cash can be a risk in itself and whether investors should worry about buying stocks at record highs. They also explore what the rise of AI could mean for jobs, trust and the relationships that hold societies together.
Original Music Composed by Mint Sherbets

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Markets Wrap: Predictions Meet AI Skepticism Aug 28, 2026

Show notes

Hosts Merryn Somerset Webb and John Stepek discuss the latest Nvidia news in which the company predicted its sales could rise by around 70% in the next fiscal year, beating analysts' expectations. Despite the positive outlook, Nvidia's share-price bump was relatively muted, suggesting investors are becoming more skeptical about artificial intelligence valuations and the financing of the technology boom.

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What Happens When Quantum Computing Actually Works? Aug 24, 2026

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Merryn Somerset Webb talks to Daniel Doll-Steinberg, Co-Founder & Partner at EdenBase, an investment firm that invests in quantum computing, about why the next great technological leap may arrive sooner than investors expect. They explore how quantum could transform drug discovery, finance and encryption. They also look at how investors can get meaningful exposure to the quantum boom, what “Q-Day” really means for Bitcoin, and why understanding philosophy goes hand-in-hand with understanding quantum.

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Markets Wrap: Higher Yields, Higher Gold Aug 21, 2026

Show notes

Hosts Merryn Somerset Webb and John Stepek are both back from their holidays and this week unpack the surge in global bond yields and how governments might respond. They also look at a study which suggested that Small Language Models (SLM) could make today’s vast AI data-centre buildout unnecessary, posing a substantial risk to hyperscalers and investors.
https://arxiv.org/abs/2511.07885

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What it Takes to Build a Stagflation-proof Portfolio Aug 17, 2026

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Joining Merryn Somerset Webb for this week's episode is Duncan Lamont, Head of Strategic Research at Schroders. Lamont explains how investors can protect their portfolios against stagflation, and how to avoid being too exposed to the AI trade. He also explains why all-time highs might not actually be a sell signal for investors - and how AI-driven job losses might affect US stocks.
https://www.schroders.com/en-us/us/institutional/insights/adapting-asset-allocation-to-the-risk-of-stagflation/

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What's Eating Away at Inheritance Money Re-Run Aug 14, 2026

Show notes

At a Bloomberg.com subscriber event earlier this year, Merryn Somerset Webb and John Stepek spoke with Paula Steele, director at John Lamb Hill Oldridge, about how to pass on an inheritance efficiently — minimise tax, manage the succession process, and avoid unintended effects on beneficiaries’ motivation.
This is a re-run of that conversation which first aired March 17th, 2026.

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