Global stocks climb after cooler than expected US inflation data
In today’s newsletter: Microsoft buys stake in London Stock Exchange, European parliament corruption scandal and US ‘banking deserts’
More than 100,000 families – many of them amongst the poorest in Britain – put money aside for Christmas gifts and other seasonal treats in a savings club called Farepak. It wasn’t a bank, and it wasn’t great value for money…
“Christmas is coming”, laments Ellen Stuart, “and I have got to think up presents for everybody . . . Dear me, it’s so tedious!” Her aunt sympathises and recalls her youth, a time before gift-giving became excessive. “Presents did not fly about in t