This is a summer to forget for British banks in the US. One after another, Barclays, HSBC and now Standard Chartered have had excruciating internal emails and conversations revealed by US investigators.
The British government confirmed Saturday it will take majority control of Lloyds Banking Group, with the taxpayer owning up to 66 percent of voting shares in return for insuring £260 billion ($366 billion) of the group's toxic assets.
When it comes to Sharia-compliant banking, few Western countries can compete with Britain. One of the world's prime financial centers, the City of London is also the key Western hub for Islamic banking.