US regulators have accused Standard Chartered of scheming with the Iranian government and of hiding thousands of secret transactions for hundreds of billions of dollars.
The London-based bank lost more than a quarter of its market value in the 24 hours after the announcement. The question now is will it also lose its crucial licence to operate in the state of New York? And do other British banks now face problems with US regulators? We’ll discuss that with Angus Campbell, of Capital Spreads in London.
Also in programme: Italy sinks deeper into recession and the Bank of England cuts its growth forecast for the UK.