World Business Report

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

President Donald Trump is delivering the 2026 State of the Union address to the nation. We examine how this might affect the state of the US economy. Also what does the business community want to hear in the coming year ? A Florida based business shares his thoughts with us. Four years after Russia launched its full-scale invasion of Ukraine. What impact is the war having on the economies of the two countries?And Novo Nordisk is halving the US list price of its most popular weight-loss drug. This comes after the Danish company announced that the trial of its latest weight loss medication CagriSema had under performed.

President Trump's new global 10% tariff comes into force today, and could rise to 15% for all of the US's trade partners.We find out what it means for Americans, and who if anyone could get a refund from the original tariffs.Plus after four years, what is the economic cost of war for Ukraine?Presenter: Leanna Byrne Producer: Matt Lines Editor: Justin Bones

We look at one of the world's biggest trading blocks the EU which has now delayed ratifying its trade deal with the EU. Rahul Tandon talks to the retailer from Colorado and Ulrike Malmendier, a member of the German Council of Economic experts.Also, we find out what is the current situation in Puerto Vallarta in Mexico. And the boss of Netflix, Ted Sarandos tells the BBC its bid for Warner Brothers is better than a rival one from Paramount.

Countries around the world are once again facing a lack of clarity over US trade policy, following the US Supreme Court's ruling that the tariffs imposed by the Trump administration are illegal. In response, President Trump said he'll immediately introduce a new fifteen per cent import tax.Both India and the EU postpone progress on trade with the US as they try and work out what new tariff arrangements mean for them.Plus we hear from the boss of Netflix about the ongoing battle to buy Warner Brothers Discovery.

Donald Trump calls the US Supreme Court's decision to strike down his sweeping tariffs "deeply disappointing" as he announces a new 10% levy on global imports.In this special programme we take a closer look at that Supreme Court ruling, with reaction from businesses and global trade experts...and from the toy company which took on President Trump to win the case. And will companies have a fighting chance of gaining compensation for the money they feel they have lost due to tariffs? We hear from one lawyer in Washington D.C who leads an International Trade department.(Picture: U.S. President Donald Trump, holds a press briefing at the White House, following the Supreme Court's ruling, in Washington, D.C., U.S., February 20, 2026.Credit Reuters/Kevin Lamarque).

We have the latest from New York with the BBC's Michelle Fleury. And we hear from Beth Benike, the owner of Busy Baby baby products in Minnesota. Plus we ask Diane Swonk, KMPG's Chief US Economist what this all means for the US economy?

Buenos Aires comes to a halt as workers stage another general strike over labor reforms - with protestors gathering outside Congress, as politicians inside debated. We hear the latest from the ground. US imports continued to outpace exports last year, pushing the country's trade deficit to a record high of about 1.2 trillion dollars. Meanwhile, Canada has narrowed its trade deficit thanks to aerospace exports. We speak to the president a Miami‑based consultancy that looks at trade figures.And Nestle has unveiled its full year results - announcing it was streamlining its operations, including selling its remaining ice cream business to Haagen-Dazs owner Froneri. We hear from someone who represents investors in Nestle as a fund manager with the Lichenstein State Bank and ask if recent baby formula controversy has damaged the company's overall financial position.(Picture: Demonstrators take part in a protest outside Argentina's National Congress on the day lawmakers discuss labor reforms proposed by President Javier Milei's in Buenos Aires, Argentina February 19, 2026. Credit: REUTERS/Agustin Marcarian).

Buenos Aires comes to a halt as workers stage another general strike over labour reforms, with protestors gathering outside Congress, as politicians inside debated. Also, why has the US trade deficit reached a record-high of $1.2 trillion. And, as Nestlé announces its full years results we hear why the company is selling off its ice-cream business. (Picture: Demonstrators take part in a protest outside Argentina's National Congress on the day lawmakers discuss labor reforms proposed by President Javier Milei's in Buenos Aires, Argentina February 19, 2026. Credit: REUTERS/Agustin Marcarian).

Buenos Aires comes to a halt as workers stage another general strike over labour reforms, with protestors gathering outside Congress, as politicians inside debated. Also, why has the US trade deficit reached a record-high of $1.2 trillion. And, as Nestlé announces its full years results we hear why the company is selling off its ice-cream business.(Picture: Demonstrators take part in a protest outside Argentina's National Congress on the day lawmakers discuss labor reforms proposed by President Javier Milei's in Buenos Aires, Argentina February 19, 2026. Credit: REUTERS/Agustin Marcarian).

Leanna Byrne looks at the opening of India's AI Impact Summit, where the withdrawal of Microsoft founder Bill Gates has cast a shadow after he cancelled his keynote appearance. His foundation says he stepped back to avoid distracting from the event.France and Germany are at odds over their joint next-generation fighter jet project, raising doubts about its future.And the IMF warns China is relying too heavily on industrial subsidies.

Meta CEO Mark Zuckerberg appeared in a California court on Wednesday, defending his leadership in a landmark case over whether social media is addictive for children.Banking giants JPMorganChase is to open more than 160 new branches in over 30 states. So why the move back into launching physical banks when a lot of the industry is moving away from them - and towards online banking?And Researchers say the world's main coffee-growing regions are getting hotter every year because of climate change - and that means coffee bean prices have almost doubled. We go to Brazil and hear from one coffee producer. (Picture: Mark Zuckerberg, Chief Executive Officer of Meta Platforms, arrives for a court appearance at the Los Angeles County Superior Court in downtown Los Angeles, California, USA, 18 February 2026. Credit: CHRIS TORRES/EPA/Shutterstock).

The Meta boss defended his leadership and answered questions about Instagram, with reports from the courtroom saying he was testy under questioning. Also, why is JPMorganChase opening more than 160 new bank branches in the United States in a world of online banking? And a coffee producer in Brazil explains how climate change has seen coffee bean prices almost double. (Picture: Mark Zuckerberg, Chief Executive Officer of Meta Platforms, arrives for a court appearance at the Los Angeles County Superior Court in downtown Los Angeles, California, USA, 18 February 2026. Credit: CHRIS TORRES/EPA/Shutterstock).

We hear from a tour guide in Tokyo as the number of oversees visitors to Japan has fallen for the first time in four years partly because of a big drop in tourists from China after a diplomatic row between the two countriesAlso a farmer tells us about the impact of a Foot and Mouth Disease outbreak in South Africaand inflation falls in the UKPresenter: Leanna Byrne Producers: Amber Mehmood and Huma Shah Editor: Justin Bones

With the European Union launching a formal investigation into fast fashion giant Shein over the Chinese business' possible breaches of digital law, we hear from Thomas Regnier on what the EU Commission's concerns are. Andrew Peach speaks to Oscar-winning film and TV producer Tom Nunan on the latest in Netflix and Paramount's tug-of-war over Warner Bros. Elsewhere, German drugs giant Bayer proposes to pay more than US$7.25bn (£5.35bn) to settle claims that its weedkiller Roundup causes cancer. And Iran closes the Strait of Hormuz for military drills... but will it affect global oil prices? The latest business and finance news from around the world, on the BBC. (Picture: People walk past a Shein pop-up store at immersive retail space Future Stores, ahead of its grand opening in London, Great Britain, on 24 September, 2025. Credit: Isabel Infantes / Reuters.)

A $35 billion deal would see France delivering over 100 Rafale jet fighters. The talks are taking places as a major conference on AI gets underway in Delhi. Also, Warner Brothers Discovers says it will temporarily re-open negotiations with Paramount Skydance in another takeover twist. And we hear about a mini gold rush near Johannesburg in South Africa.Presenter: Leanna Byrne Producer: Craig Henderson

Delhi is hosting an artificial intelligence summit with politicians and tech executives from more than 20 different countries convening in India to discuss how AI could reshape economies and regulation. Elsewhere, Sam Fenwick looks at what a major factory closure means for South Africa's sugarcane farmers. And, who will actually buy Warner Brothers Discovery? (Picture: Indian Prime Minister Narendra Modi (left) after he inaugurates India AI impact Expo 2026 in New Delhi, India. Credit: PRESS INFORMATON BUREAU HANDOUT/EPA/Shutterstock)

Delhi is hosting an artificial intelligence summit with politicians and tech executives from more than 20 different countries convening in India to discuss how AI could reshape economies and regulation. Elsewhere, Sam Fenwick looks at what a major factory closure means for South Africa's sugarcane farmers. And, who will actually buy Warner Brothers Discovery? (Picture: Indian Prime Minister Narendra Modi (left) after he inaugurates India AI impact Expo 2026 in New Delhi, India. Credit: PRESS INFORMATON BUREAU HANDOUT/EPA/Shutterstock)

The US entertainment giants Disney gets tough with ByteDance over alleged copyright infringement.Disney accuses the Chinese tech firm ByteDance of stealing its intellectual property by training its new AI tool, Seedance, on Disney characters and images of real-life actors. ByteDance says it will address Disney's concerns.Cuba cancels a prestigious cigar festival in a worsening fuel crisis caused by the US blocking oil from reaching the island. We examine the chequered history in relations between Cuba and the US.And Dave Stewart, one half of British eighties pop duo, The Eurythmics, talks to the BBC about his new business venturePresenter: Gideon Long Senior Producer: Craig Henderson

The US entertainment giant accuses ByteDance of stealing its intellectual property by training its new AI tool, Seedance, on Disney characters and images of real-life actors. ByteDance says it will address Disney's concerns. Plus, Cuba cancels a prestigious cigar festival in a worsening fuel crisis caused by the US blocking oil from reaching the island. And Dave Stewart from the British eighties pop duo, The Eurythmics, talks about his new business venture. Presenter: Gideon Long Senior Producer: Craig Henderson

Cuba goes dark as fuel shortages affect power supplies. We hear from the people affected by the outages, and the price the island nation is paying as the darkness spreads. As we approach the fourth anniversary of Russia's full-scale invasion of Ukraine, we speak to the man in charge of keeping the power going as Ukraine approaches a humanitarian crisis.In Bangladesh, we get reaction as the Bangladesh National Party and allies win a commanding, two‑thirds‑plus majority in the first general election since the student‑led uprising that drove Sheikh Hasina from office in 2024. And we ask - what next for an economy hit so hard by US tariffs? And PlayStation has surprise‑launched a new God of War game, Sons of Sparta, on the PS5. We hear from a gaming expert on why this franchise is such a big deal.(Picture: A bicitaxi rides in a street of Havana, on February 13, 2026. Credit: YAMIL LAGE / AFP via Getty Images.)