World Business Report
Analysis of the big global business and economic issues, as they affect consumers and investors. Broadcast on weekdays.
Jet fuel warning in Europe
The head of the International Energy Agency Fatih Birol says the blockade in the Strait of Hormuz could trigger what he calls the largest energy crisis the world has ever faced. He's warned Europe may have as little as six weeks of jet fuel left. It comes as airlines across…
Could Europe have ‘maybe 6 weeks of jet fuel left’?
That’s a warning from the International Energy Agency boss, Fatih Birol as the Middle East conflict continues to disrupt energy supplies. So what could that mean for airlines and travel? Plus, how did China’s economy grow by 5%, faster than expected despite the Iran war? And Australia’s fuel supplies face…
Trump threatens to fire Fed chairman
President Trump has threatened to fire US Federal Reserve chair Jerome Powell if he does not step aside next month, raising concerns over central bank independence and market uncertainty. Pakistan remains involved in diplomatic efforts over the US, Israel and Iran conflict, as questions grow over whether this could bring…
Pressure on US to ease global economic pain
World finance ministers meeting in Washington have been voicing their anger and frustration at the US because of the financial strains being placed on the global economy caused by its military offensive in the Middle East. Rachel Reeves from the UK described the US-Israeli war with Iran as 'folly' while France's…
IMF warns conflict could tip global economy into recession
With the Global recession warning from the International Monetary Fund, Andrew Peach looks at rising oil, gas and food prices, and how they could force central banks to keep interest rates higher for longer. Also, European airlines call for emergency support as the conflict disrupts aviation. And we ask whether…
IMF warns of global recession
In its World Economic Outlook report the International Monetary Fund says that, in a worst case scenario - where oil, gas and food prices spike and remain high this year and next - global growth could fall below 2% in 2026. That's if the US-Israel war with Iran continues and high…
Trump’s shipping blockade, the Philippines’ tax breaks, and Hungary’s political shakeup
As President Trump blocks ships travelling to and from Iran through the Strait of Hormuz, how will this affect Iranian oil exports? The Philippines has suspended taxes on paraffin and cooking gas to help keep food prices low; we hear from a chef who tells us how this will impact…
US blockade begins on Strait of Hormuz
The US has begun its blockade of the key shipping route the Strait of Hormuz after talks with Iran failed to reach an agreement. President Donald Trump says it's in response to Iran "knowingly failing" to reopen the strait. Iran says the blockade is illegal and has accused the US…
Inheritance: Samsung Episode 1
From a fruit and vegetable store to a global empire, Samsung’s story is more than business - it’s an epic family saga. Behind the success lies a dynasty driven by ambition, wealth, tradition and rivalries, where power struggles shaped not just the company but South Korea’s economy. Everyone’s heard of…
Why is the world watching Hungary’s general election?
After a 16-year rule, the nationalist prime minister of Hungary, Viktor Orbán, faces the opposing leader Peter Magyar in Sunday’s election. Leanna Byrne will hear from a restaurant owner and a recruitment firm boss in Budapest. Also, why is the Iran war affecting the price of glass bottles? Varun Gupta,…
Fuel protests cause disruption on Ireland's roads
The Strait of Hormuz remains almost shut to shipping, hurting economies around the world. In Ireland farmers and lorry drivers have been protesting high fuel costs. Plus, we hear from the owner of a hospitality business in the Middle East. And South Korean boyband BTS are back on tour.
Is the ceasefire in the Gulf too late to stop food prices rising?
Although the fragile ceasefire between Iran and the United States still holds, shipping through the Strait of Hormuz remains heavily disrupted, driving up fuel and fertiliser costs and leaving farmers in many parts of the world facing higher prices just as they head into the planting season. What does that…
First Iranian oil for India in seven years
For the first time in seven years, India has bought its first cargo of Iranian oil. India hasn't purchased any Iranian oil since 2019 because of US sanctions, but those restrictions were waived last month. Leanna hears from the BBC's Archana Shukla. Plus, its a big day for K-pop fans…
Shipping companies still reluctant to pass through Strait of Hormuz.
Reopening the Strait of Hormuz, an important global waterway, is part of the ceasefire agreement, as announced by the US government, but late on Wednesday, Iran warned that ships crossing the waterway without permission would be “targeted and destroyed”. Sam Fenwick will hear from Nils Haupt, the Head of Corporate…
What the US-Iran ceasefire means for oil prices, flights and bills
The US and Iran have come to a temporary ceasefire, but for many businesses and consumers, the pressure may be far from over. Hundreds of ships are still backed up in the Strait of Hormuz, with many waiting for clearance from Iran before they can move. Plus, what it means…
Trump's Hormuz deadline looms
A countdown is underway as President Trump says 'a whole civilisation will die tonight' in Iran without a deal to fully re-open the Strait of Hormuz. Plus, we return to Cambodia's scam centres with a rare visit inside. And is Universal Music which is home to Taylor Swift, about to…
Ten days of Ukrainian drone strikes reduce Russia's seaborne crude oil exports
Over several days, Ukrainian drones have repeatedly struck oil export facilites in Primorsk and Ust-Luga in the Baltic Sea, and Novorossiysk in the Black Sea. Seaborne exports of Russian crude oil have been reduced as a result. Troubled airline Air India is on the lookout for a new CEO after…
Trump gives Iran threatening deadline to reopen the Strait of Hormuz
United States President Donald Trump said the US will target civilian infrastructure if Iran doesn't open the Strait of Hormuz. He has given Iran a deadline of tomorrow to reopen the passage. But what happens if that deadline passes? And why are some vessels already allowed to pass through? Meanwhile,…
Japan hints at talks with Iran as Middle East tension grows
Japan relies on the Middle East region for over 90 percent of its crude oil imports. Most of these imports transit the Strait of Hormuz, which Iran has effectively closed. Amid heightened geopolitical tensions in the Arctic, the United States has ordered a new fleet of icebreakers that will be…
Is the Strait of Hormuz opening up again?
After weeks of disruption in the Middle East, ships are starting to move again through the Strait of Hormuz, a vital route for global trade and fuel supplies. But it’s still a fragile return, and the risks remain high for companies and crews. We’ll hear how the conflict is affecting…