World Business Report

A Los Angeles jury has handed down an unprecedented win for a young woman who sued Meta and YouTube over her childhood addiction to social media. We hear the latest.Since the war in the Middle East erupted, attention has focused on oil and gas flows through the Strait of Hormuz. However, the Gulf is also a major producer of aluminium and helium. We look at how disruption has spread into other commodities. And it's not just commodities and supply chains feeling the pressure. Airlines are watching oil prices closely, because fuel is one of their biggest costs. We hear from the boss of AirAsia Group, the Malaysian budget airline, on what might happen, should oil prices remain high. (Picture: Attorney for Kayle GM, Mark Lanier (C) speaks to the media outside the Los Angeles Superior Court, in Los Angeles, California, USA, 25 March 2026. Credit: Photo by TED SOQUI/EPA/Shutterstock).

The Asian Development Bank's Chief Economist Albert Park tells us that the conflict in the Middle East could prove 'traumatic', knocking as much as 1.3% of Asian GDP growth, depending on how long it goes on for. He believes that the countries most vulnerable include Sri Lanka, Maldives, Laos, Bangladesh and Pakistan. Meanwhile the price of jet fuel has more than doubled since the start of the war with Iran, with numerous major airlines raising their prices. Jetstar New Zealand cancelled some domestic services and flights between Australia and New Zealand. Vietnam Airlines also scrapped almost a two dozen domestic flights a week. And why shares in the Chinese toy-maker Pop Mart – who make Labubu Dolls – have tumbled more than twenty percent…their biggest drop in nearly a year. Presenter: Sarah Rogers Senior Producer: Craig Henderson

The Philippines government has declared a state of emergency. President Ferdinand Marcos Jr. said fuel supply in the country is in ‘imminent danger' as prices continue to surge because of the war in the Middle East. Meanwhile, Slovenia introduces fuel rationing to stop ‘fuel tourism' and Kenya's flower industry is struggling with cancelled flights and disrupted sales. As Australia closes hundreds of petrol stations, many ask where this crisis is headed, and when it will end. Andrew Peach has the latest. The Trump administration says it will pay the French energy giant, TotalEnergies, nearly $1bn to cancel plans to build wind farms off the US eastern coast. President Trump has moved to scrap sustainable energy sources and increase fossil fuel production. And dynamic ticket pricing is back in the news. A group representing football fans have filed a complaint against FIFA at the European Commission for ‘abusing its monopoly position' in ticket sales for the 2026 World Cup. FIFA says it's focused on ensuring fair access to matches.

The Philippines has declared a state of national energy emergency as the conflict in the Middle East cuts fuel supplies. President Ferdinand Marcos Jr said he had signed an executive order to safeguard energy security amid severe disruption to global supply chains. The Philippines is highly dependent on fuel imports and particularly vulnerable to disruptions in production and shipments. The US-Israel war with Iran - and the effective closure of the Strait of Hormuz, a key shipping route - has sent shock waves through global energy markets, causing soaring prices and shortages. Meanwhile Slovenia has become the first EU member state to implement fuel as many countries experience steep hikes in fuel prices. In Slovenia, this has resulted in so-called "fuel tourism", as drivers from neighbouring countries, particularly Austria, take advantage of the lower, regulated prices here. Under the new measures, private motorists in Slovenia will be restricted to a maximum purchase of 50 litres of fuel per day. Businesses and farmers have a more generous allowance of 200 litres. And after eight years of negotiation, the EU and Australia have signed new trade deal that will remove the vast majority of tariffs for both markets. As a result European shoppers could soon see more Australian beef on the shelves and the EU will be able to sell more cars, chemicals and steel in Australia.

As the war in the Middle East continues, other regions adjust. The price of oil dropped after President Trump said discussions with Iran had taken place. Meanwhile, the Philippines, which gets most of its fuel from the Persian Gulf, has declared a four-day work week to reduce energy demand; Suranjana Tewari is in Manila with the latest. We also look at the drive towards solar energy across Sub-Saharan Africa and how this conflict could accelerate trends in the renewable energy sector. In Cuba, more than 10 million people lost power to their homes after their national grid collapsed. Will Bain looks at the future of the Caribbean island. And Leonid Radvinsky, who founded OnlyFans has died. We discuss how this platform provides much more than just adult content.

We bring you the latest reaction after President Trump says the US has held constructive talks with Iran, even as Iran has denied any dialogue with the US. Also, South Korea has a new central bank chief, Shin Hyun-song, known for predicting the 2008 financial crisis. And Huel, the British meal replacement brand comes under new ownership.

The head of the International Energy Agency has told the BBC that governments need to “be more vocal” about cutting energy usage amid what he called the “greatest global energy security challenge in history”. Dr Birol is now calling on countries to cut demand suggesting lower speed limits, avoiding air travel, even restricting the use of private cars. Last week the IEA coordinated the release of 400 million barrels of strategic oil reserves, which is around 20% of the total reserves. However, the global oil price has only risen since then. David Harper has the latest. Gold prices have fallen sharply from around $5000 per ounce to just over $4500. Traditionally seen as a 'safe haven' in times of global uncertainty, why is the price of gold dropping now? Banking giant JP Morgan Chase say they are now trialling software to analyse employee working hours. The firm say that this will enable them to prioritise staff wellbeing, but it has raised questions about the ethics of logging every video call or keystroke.

The International Energy Agency wants people to cut their energy consumption. The IEA warned that the impact from the closure of the Strait of Hormuz would “become more and more severe”. And the South Korean boyband BTS are back after an interruption for its members to do national service. They've also released a new album and announced a world tour.

Global energy security is facing one of its most serious tests in years. Two of the world's most important gas production sites, Qatar's Ras Laffan LNG hub and Iran's South Pars facility, have been hit in coordinated missile strikes. Ras Laffan alone supplies around a fifth of the world's liquefied natural gas, and the damage is reported to be extensive. What does this mean for the global gas supply? Vishala Sri-Pathma has the latest.The war in Iran could result in a 0.5% decline in global goods trade this year, according to a World Trade Organisation annual forecast. Last year international trade in goods and services trade was worth $34.65 trillion which is about a third of the global economy. In Nigeria, the vast gas reserves are becoming even more strategically important in a volatile global energy climate. So what does this mean for Akwa Ibom, one of Nigeria's key oil‑producing states?

Gas prices rise sharply following an attack on Qatar's Ras Laffan energy complex. QatarEnergy has confirmed "extensive damage" to the plant used to convert natural gas into LPG. The effective closure of the Strait of Hormuz has hit some Asian countries particularly hard because of their dependence on energy supplies from the Middle East. We hear from people in the Philippines and Morocco about how they're coping with rising fuel prices.

With coordinated strikes on Iran's installations on the world's largest gas field and reprisals against facilities in Qatar, we ask what this means for the region and for supplies of gas worldwide. Conflict in the Middle East has already had an effect on airlines, with some carriers cancelling flights. We take a look at how an airlines pay for their fuel and why this can make a difference to how resilient they are to oil price shocks. And entertainment and theme part giant Disney has a new CEO. We find out what's in Josh D'Amaro's in-tray as he takes the helm at a time of intense competition.

Oil prices have jumped above 109 dollars a barrel after airstrikes hit Iran's South Pars gas field, the world's largest natural gas reserve, shared with Qatar, raising fresh concerns about supply during an already volatile period. In Bangladesh, the impact of the oil price is becoming increasingly visible. The country, which relies on imports for around 95 percent of its energy, is seeing long queues at fuel stations as fears of shortages grow. The government has even shut down universities in an effort to conserve electricity, affecting students across the country. Meanwhile, Nigeria's president Bola Ahmed Tinubu has begun a two-day state visit to the UK, with trade and investment high on the agenda. With bilateral trade already worth up to 10 billion dollars annually, could the visit could unlock new opportunities and reshape the economic relationship.

The US Israel war with Iran has caused significant disruption to the global supply of oil and caused major economic upheaval. The US government has granted permission to domestic oil producers to drill in Alaska and the Gulf of Mexico, but much of America's oil comes from fracking. So will the frackers be taking advantage of current high oil prices to increase production? Vishala Sri-Pathma has the latest.In Sri Lanka, the government has announced an emergency shift to a four day work week to conserve dwindling fuel reserves, amid growing fears over petrol shortages. The Sri Lankan government has now declared that every Wednesday will now be a public holiday to cut fuel consumption on the island. Elsewhere, there were real worries in Dublin that Donald Trump's tax agenda could see US multinationals paying far less corporation tax in Ireland on their European profits. However, those fears haven't materialised. US tariffs have generally not been applied to pharmaceutical products which are Ireland's main export to the US. Meanwhile, the Irish economy has also been underpinned by a continuing corporation tax windfall.

The escalation in the Middle East is continuing to drive up energy prices, with the Strait of Hormuz, a critical chokepoint for global oil shipments, effectively closed. We bring you the latest on oil prices and how wider stock markets are responding.Despite higher prices, US oil production is not accelerating as some might expect. The number of active rigs remains below last year's levels, and investment in new drilling is expected to stay modest into 2026.At the same time, political tensions are adding another layer of uncertainty. US President Donald Trump says he is considering delaying a planned summit with China's President Xi Jinping, citing both the ongoing conflict with Iran and efforts to reopen key shipping routes. So how is this being viewed from Beijing?And as energy costs climb, businesses around the world are already feeling the pressure. In Kolkata, makers of one of India's most famous dishes, biryani, say gas shortages and rising costs are hitting their livelihoods, as we hear from restaurant owners struggling to keep up with demand.

A report out from Interpol states that an estimated $442bn dollars were lost worldwide last year to financial fraud. In its annual report, Interpol said AI-enhanced fraud was now almost five times more profitable than traditional methods, with AI systems able to autonomously plan and execute complete fraud campaigns. Vishala Sri-Pathma finds out more. China sets its lowest growth target in decades. The focus appears to be shifting from rapid expansion to stability in an increasingly uncertain global economy. What does this mean for China today? In Kolkata, the upswing in the oil price is trickling into everyday life, we hear how gas shortages are affecting biryani sellers across the city.

Global energy markets remain jittery after a drone strike at the UAE's Port of Fujairah forced a temporary halt in oil loading, raising concerns about the vulnerability of key Gulf export routes even as the Strait of Hormuz stays mostly closed. Meanwhile, the White House is seeking to assemble an international naval coalition to escort ships through the strait.In Japan, the nation's once-ubiquitous vending machines are in decline, with numbers down 23% since their 1985 peak of 2.2 million.

Brent crude, the international benchmark for crude oil, rose to settle at $103 a barrel, ending the day at the highest level in more than three years.That's as the Strait of Hormuz remains effectively closed to most shipping, choking off one of the world's most important energy routes. It leaves the oil market facing what analysts say could be the biggest supply disruption in its history, with no clear end in sight. Meanwhile, across Africa, the surge in oil prices triggered by the US Israel war with Iran is rippling across economies. Many countries on the continent import most of their fuel and that could quickly mean higher transport costs, inflation and pressure on local currencies. Leanna Byrne has the latest.In New York, a bill has been introduced which, if passed, would see New York's minimum wage rise to the highest in the country. Supporters say it would help workers cope with the soaring cost of living in one of the world's most expensive cities. But many businesses warn the increase could force them to raise prices or cut jobs.

The US has loosened sanctions on other countries buying Russian oil we'll be talking about if those measures are enough to keep a lid on energy prices. And the smart toys struggling with toddlers emotions, why researchers are raising concerns on those. Presenter: Sarah Rogers Producer: Victoriya Holland Editor: Stephen Ryan

The US is considering temporarily waiving the Jones Act, a century-old law from 1920 that normally requires all goods shipped between US ports to travel on US-built, owned, and flagged vessels. The waiver would allow foreign ships to move fuel between domestic ports for 30 days to help curb rising costs. Meanwhile, the war with Iran has already cost the US at least $11.3 billion in its first week, with global energy markets feeling the ripple effects and consumers facing higher prices.(Picture: An aerial view of Exxon Mobil's Beaumont oil refinery, which produces and packages Mobil 1 synthetic motor oil, in Beaumont, Texas, U.S., March 18, 2023. REUTERS/Bing Guan/File Photo)

As the Strait of Hormuz remains shut what is being done to keep seafarers safe?

A $20 billion push is now on to get tankers moving through the Strait of Hormuz. Meanwhile, Middle East tourism suffers as flights are cancelled, and skies remain closed. And how tens of thousands of people are kidnapped for ransom each year.(Picture: An LPG gas tanker at anchor in the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Shinas, Oman, March 11, 2026. Credit: REUTERS/Benoit Tessier)

The International Energy Agency is proposing the release of emergency oil reserves to calm energy markets. Also, World Business Express finds out why diesel prices are rising faster than petrol/gasoline. And Leanna Byrne looks at February's US inflation data.

The International Energy Agency is meeting in Paris to discuss the release of strategic oil reserves in a bid to bolster supplies and calm energy markets as the US-Israel war with Iran ends the 11th day. Sam Fenwick hears from the former head of oil industry and markets at IEA, Neil Atkinson.(Picture: A person pumps gas at a Shell gas station in Alexandria, Virginia, USA, 05 October 2022. Credit: MICHAEL REYNOLDS/EPA-EFE/REX/Shutterstock)

The world's biggest producer of crude oil, the Saudi firm Aramco, has warned of "catastrophic consequences" if the Straits of Hormuz is blocked for an extended period of time. But as war rages in the middle east, and attacks on shipping severely reduce the transportation of oil and gas, Saudi Arabia's East-West oil pipeline has emerged as a critical piece of infrastructure in the global energy system. The CEO of Maersk speaks about the shipping industry's response to US/Israel war on Iran. And Leanna Byrne hears from India where a shortage of LPG is causing headaches for the food preparation industry.

President Donald Trump's announcement comes hours after G7 finance ministers said they were ready to use strategic oil reserves if necessary. Also, Anthropic sues the US government for calling it a risk. And we mark 250 years since the publication of Adam Smith's iconic economics book, The Wealth of Nations.(Picture: Motorists queue at a gas station in Skopje, North Macedonia, 09 March 2026. After the Regulatory Commission announced an increase in petrol and diesel prices at gas stations, people rushed to fill the tanks of their vehicles. Credit: Photo by GEORGI LICOVSKI/EPA/Shutterstock)

Bangladesh starts rationing fuel for private motorists. It's a result of the rapid rise in oil prices as a result of the US/Israel war on Iran. And Nepal has a elected a new government, six months after the previous administration was toppled by Gen Z protests. Leanna Byrne hears from Nepal.

Israel bombards Beirut and Tehran and many people are being displaced. We hear from the restaurant owner keeping the ddors open for her customers despite the explosions.Also, Ed Butler finds out why hundreds of trafficked workers were released from scam centres in Cambodia, only to end up wandering the streets of the capital without a way back home.And we dig into the growing numbers of young Roblox millionaires.

The US treasury secretary, Scott Bessent, says he will grant India a 30-day waiver to buy sanctioned oil from Russia to help ease supply concerns in the global market.It comes as the Qatari energy minister warns that all energy producers in the Gulf region could shut down exports within weeks.Plus - we hear from Nepal where votes are being counted in what's being dubbed the young versus old election.

What do people in Iran think about the war? We hear from Iranians across the country who tell us how life is changed.Also, we look at the life of foreign workers living in neighbouring countries, hearing from two Indian construction workers from Qatar. We ask how they are feeling since the war started.But others are willing to pay over $250,000 just to escape from the United Arab Emirates.

As global oil prices continue to climb, crude oil supplies from Iraq and Kuwait could stop shipping within days if travel through the Strait of Hormuz remains virtually halted. Plus, China cuts its economic growth forecast to the lowest level since 1991.

The US-Israel war with Iran brought the crisis in global shipping. We hear how it's affecting seafarers and speak to the Head of the International Maritime Organisation.Also, all provinces in Iraq have experienced a power blackout, which the government has attributed to a technical fault. We get the latest from Baghdad.And how a bag of money on a runway caused havoc in Bolivia.

Oil and gas traders took a breath on Wednesday after Trump pledged help in the Strait of Hormuz, but experts say there are still signs the price of crude could break through the $100 mark as hundreds of tankers are anchored and unused in the vital waterway. Meanwhile, TikTok has told the BBC is won't bring in end-to-end encryption in its popular social media app

President Trump says the US Navy will escort tankers through the Strait of Hormuz "if necessary", after shipping traffic almost entirely halted through the key sea passage following Iranian threats to "set fire" to ships. We hear the latest on shipping in the region.We also head to Lebanon as hostilities between Israel and the Iran-backed group Hezbollah continue to escalate. What does this mean for the future of the country? And OpenAI says it's rewriting parts of what it calls an “opportunistic and sloppy” deal with the US government over the use of its AI in classified military operations.(PHOTO: Tankers are seen off the coast of the Fujairah, as Iran vows to close the Strait of Hormuz, amid the U.S.-Israel conflict with Iran, in Fujairah, United Arab Emirates, March 3, 2026. Credit: REUTERS/Amr Alfiky/File Photo).

Natural gas prices spike in Europe after Qatar closes its LNG base. Meanwhile the Strait of Hormuz closure sends crude oil higher and its importance in the shipment of fertiliser ingredients could have major effects on global crop production this year, the boss of Yara says

The conflict has caused the closure of shipping lanes, with up to a fifth of global energy and as much as a third of other commercial shipping impacted.Thousands of flights have also been suspended, with airports as well as refineries the target of Iranian attacks.We get reaction to the latest developments.(Picture: A traveller looks at a departures board displaying a cancelled Qatar Airways flight for Doha, amid the U.S.-Israel war with Iran, at Terminal 8 at John F. Kennedy (JFK) International Airport in New York City, U.S., March 2, 2026. REUTERS/Bing Guan. Credit:).

Airlines have grounded flights, one of the world's busiest airports has shut, and oil prices are climbing after strikes in the Middle East. We hear from investors and analysts as they react in real-time to the US-Israel war with Iran. And we find out how the disruption is affecting air passengers and the wider travel industry.Plus - we learn how the insurance market is responding to fast-moving events as it assesses coverage and war risk premiums.

A plot twist in Hollywood has taken place in the last 24 hours, but in the spreadsheets rather than on the screens, as Netflix decides it's not willing to counter Paramount–Skydance's US$111bn bid for Warner Bros Discovery. We discuss what this means for the studio house that brought Bugs Bunny, the Looney Tunes, Harry Potter and the DC Universe to audiences worldwide. Vishala Sri-Pathma hears how US President Donald Trump has directed every federal agency to immediately stop using technology from Anthropic, as the row between the White House and the AI developer continues. Meanwhile, with the United States oil blockage of Cuba continuing for nearly a month, Will Grant reports on the economic and humanitarian crisis engulfing the Caribbean country. And as Pokémon celebrates turning 30 with its first ever theme park in Japan - we find out how a kids' craze become a cultural heavyweight. Global business news, with live guests and contributions from Asia, Latin America and the USA. (Picture: The Warner Bros. Studios water tower in Burbank, California, on 11 September 2025. Credit: Allison Dinner / EPA / Shutterstock).

Paramount-Skydance is the only show in town for ownership of Warner Brothers, with a deal valuing the movie maker and media empire at $111bn. But even if it seals the deal with shareholders and boards it still needs to get past regulators on both sides of the Atlantic. We head to the Balkans, where a multi-billion-dollar rail link between Belgrade and Budapest opens for freight today. We also hear about the secret to Pokemon's success, as the video game characters turn 30.

With a landmark court case in California hearing from a woman who says tech giants Meta and YouTube's owner Google harmed her mental health as a child, we catch up with our correspondent in Los Angeles, Peter Bowes, on the legal proceedings and discuss how damaging and addictive social media websites can be during a person's formative years. Elsewhere, as Netflix squabbles with Paramount for control of Warner Brothers Discovery and its worldwide franchises including Harry Potter and Superman, we hear from former Paramount executive Guy Petty on why Netflix's CEO Ted Sarandos is heading to the White House. Rahul Tandon speaks to Moritz Riesinger of the IG Metall union in Germany as it comes to a temporary agreement with Elon Musk over its Tesla factory near Berlin. And economist Cary Leahey of Columbia University explains why the latest unemployment figures in the United States has risen once again.Global business news, with live guests and contributions from Europe, Latin America and the USA. (Picture: Supporters of plaintiff Kaley G.M. hold signs as they stand outside the courthouse in Los Angeles, California, on the day she takes the stand at a trial in a key test case accusing Meta and Google's YouTube of harming children's mental health through addictive social media platforms. Credit: Reuters / Mike Blake.)

The president and chief executive of the World Economic Forum, Borge Brende is stepping down after an investigation into his links with Jeffrey Epstein. The Forum says it found no additional concerns. The price of lithium, a key ingredient in EV batteries, has surged after one of the world's top producers, Zimbabwe, suddenly banned exports.We also hear from Volvo UK over the recall of electric cars over a fire risk with some of its batteries.

The United States says it will ease restrictions on Venezuelan oil exports to Cuba's private sector as Washington's blockade leads to a worsening crisis on the Caribbean island.Former US treasury secretary and onetime Harvard president Larry Summers retires from his roles at the university. Elsewhere in Milan, Gucci is facing a backlash after using AI to make images to promote its forthcoming show at Milan Fashion Week. Critics have questioned how using AI instead of human models and photographers is in keeping with the fashion giant's values.

The German chancellor, Friedrich Merz, says there is a 'great opportunity' to develop a relationship with China, following a meeting with its leader Xi Jinping, in Beijing.Merz is currently on his first visit to China, which is Germany's biggest trading partner, since becoming leader 10 months ago.Plus a dispute is brewing between Washington and an AI company over military use of its technology.Presenter: Bisi Adebayo Producer: Matt Lines Editor: Justin Bones