Counting the Cost - Is the US unfairly targeting UK banks?
Is the US unfairly targeting UK banks in a protectionist move to secure New York's position as the centre of Western capitalism? In the last few years, HSBC, Barclays and Lloyds have all paid hefty fines. The latest bank to be targeted was Standard Chartered. It has been accused of hiding $250bn in transactions with Iran. The London-based bank denies the accusations. But the US justice department decided not to pursue criminal charges against Goldman Sachs for its part in the financial crisis. We speak to Angus Campbell, the head of market analysis at London Capital Group, and ask: Is Washington just picking up from where UK regulation fails? What needs to happen for Egypt's economy to get back on its feet? Our reporter Rawya Rageh joins us on the programme to tell us what is going on in Egypt as she goes looking for young entrepreneurs who are setting up new businesses as foreign investors flee the country. Plus, it is holiday season in the northern hemisphere which means, in theory, good times for the hospitality business. But does anyone in Europe have money to be splashing out on fancy hotels? Will anyone come to the Middle East when it is pushing 50 degrees outside?