World Business Report

As the US president leaves Beijing for Washington, it's clear both parties are eager to improve their economic relationship. We reflect on the last two days with American and Chinese experts.Across the pond, it's been a dramatic week for British politics too as Prime Minster Keir Starmer faces calls to step down. How will this affect the UK's economy amidst instabilities already caused by the Middle East war?And a decision by car giant Stellantis to make more models in China highlights the West's increasing interest in their manufacturing. We hear from experts sitting shotgun in the drive to develop China's car industry.

Ahead of President Trump's and President Xi's China summit, there were hopes of deals agreed on both trade and tariffs. But has anything actually been achieved? Leanna Byrne finds out. And less than a month from the start of the World Cup, fans and hoteliers are getting nervous at the impact of escalating prices for tickets, transport and taxes. Can fans afford to make the journey? Also, we hear why the bond markets are nervous of political change in the UK.

The US president and his Chinese counterpart struck a positive tone at a banquet dinner in Beijing today. But what was actually achieved in a day of meetings between the two world leaders?Protests have broken out in Havana following ongoing power blackouts described as the worst in decades. Cuba's energy minister admits that they've run out of diesel and fuel oil because of the US-led blockade.And, with the men's World Cup less than a month away, hotels in the USA are seeing 80% less demand for bookings than expected. The cost of transport and tickets are some of the reasons cited. We hear insights from a hospitality industry insider and a fan who spent over $2,000 to be at the first match.

Presidents Trump and Xi meet in Beijing: What's at stake for both in terms of trade and tariffs? And Honda reports its first annual loss in 70 years. Has the Japanese car giant misjudged its electric vehicle strategy? Also, Cuba runs out of diesel and fuel oil as a US-led blockade of oil to the country squeezes supply.

US President Donald Trump is in China to meet with his counterpart Xi Jinping. They're expected to discuss their current tense trade relationship, the Middle East war, and negotiate an extension of their trade truce agreed in October that paused tariff escalation between the two nations.India has raised import tariffs on gold and silver purchased abroad to ease pressure on foreign exchange reserves after feeling the squeeze from rising energy prices. They're the world's second largest consumer for precious metals, and we hear how this is likely to affect global demand.Open AI CEO Sam Altman testified in court today in the ongoing case against Elon Musk, concluding the evidentiary portion of the trial. Closing arguments are due next. Our North America technology correspondent Lily Jamali gives us an update from California.And how has the aid sector affected Africa after Donald Trump closed the US Agency for International Development? Ed Butler reports from a maternity care project and speaks with experts across the continent.

Tariffs, tech competition, the Iran war and Taiwan top the agenda for the two superpowers. Trump, last visited in 2017. He returns to a stronger, more assertive China. Tens of thousands take to the streets of Buenos Aires to protest the economic policies of Argentina's President Javier Milei. And India hikes the tariff on imports of gold and silver from 6% to 15%.

Are higher prices in the US starting to show up in household bills as inflation moves closer to 4%? We'll be looking at where that pressure is coming from, how long it might last, and what it means for businesses and consumers already feeling the squeeze. Also today, after an awkward intervention from President Macron, we get the mood from the tech-focused Africa Forward summit, where leaders and investors are debating the future of digital growth on the continent. And we hear why eBay has ruled out a deal to merge with GameStop, ending speculation over a possible takeover in the gaming retail space. (Picture: Allison Dinner/EPA/Shutterstock)

The blockade of the Strait of Hormuz have caused higher energy and grocery prices. The average US price for a gallon of unleaded is at its highest level since July 2022, at $4.50.A Japanese snack maker says it's been forced to print its packaging in black and white because of ink shortages caused by the crisis in the Persian Gulf.And it's the first day of the Cannes Film Festival in the south of France, one of the biggest events in the world of cinema.

Oil prices are rising as tensions in the Middle East continue to disrupt supply, with petrol in parts of the US now topping six dollars a gallon. We're joined by David Malpass, former US Treasury Under-Secretary under President Trump and former World Bank President, to discuss the global economic impact. And what does all this mean on the ground for small businesses already under pressure? Also, Nintendo shares fall after a price hike for its new Switch 2 console, as booming demand for AI drives up the cost of memory chips and pushes prices higher for gamers. We'll be asking what's behind the global scramble for semiconductors — and how far those costs could go. And Iran's saffron industry is being hit by the conflict — pushing up prices for one of the world's most expensive spices. (Picture: The crude oil tanker Odessa, carrying UAE crude after passing through the Strait of Hormuz with its AIS transponder turned off, at Daesan port, Seosan, South Korea, 8 May 2026. Credit: Reuters / Kim Soo-hyeon)

The PM says austerity measures will cut India's fuel use and save foreign exchange. India imports 90% of its oil. Its fuel bill has spiked since the US and Israel's war on Iran.President Emmanuel Macron goes on a charm offensive in Africa. He's visiting Kenya for the two day Africa Forward Summit, a gathering meant to showcase France's new policy for the continent. And singer Dua Lipa is suing Samsung for $15mn for using her image without her permission

US job numbers are rising and the stock market is booming near record highs. So why are consumers feeling so pessimistic about the economy?As a Mexican trade mission visits Canada, the two countries look to deepen economic ties.Also Instagram's direct messages are no longer fully private, and gamers face higher prices as console costs climb.[Picture: Customers shop for groceries at a Publix supermarket in Miami, Florida, USA. Photo Credit: CRISTOBAL HERRERA-ULASHKEVICH/EPA-EFE/REX/Shutterstock

Last week, the US President threatened to raise the tariff on the import of EU cars to 25% if the European Parliament delayed a new EU/US tariff agreement.The annual conference of ASEAN, the grouping of South East Asian states, is meeting in the Philippines with the shadow of the war in the Persian Gulf hanging over the event.And at least 11 miners have died after an accident at an artisinal mine in Kenya

As airlines cut flights over high jet fuel costs the EU's transport commissioner says passengers must still be compensated.We hear from the Global Fashion Summit in Copenhagen on how the industry is responding to rising costs and supply chain issues.And would you sue for guaranteed access to a sun lounger on your holidays?

Tony Fernandes, the chief executive of the low-cost carrier, has been speaking to the BBC. He says the current high fuel costs are more complex for the airline to manage than during the COVID-19 pandemic. Plus, Danish shipping giant Maersk says it will be able to adapt if charges are introduced for ships transiting the Strait of Hormuz. And the African nation of Madagascar is struggling to deal with fuel shortages as a result of the war in the Persian Gulf.

We look back on the life of the CNN founder, Ted Turner, who has died. We hear from Brian Selter, CNN chief media analyst, and Lisa Napoli who was an intern in the network's early days. Also, conflict in the Middle East has driven aluminium prices to a four-year high. So how will this affect the price of cars and canned goods? And with six weeks to go before the FIFA World Cup, how US hotels are seeing fewer bookings than they expected.(Picture: Turner Enterprises Chairman Ted Turner participates in a panel at the 2010 Milken Institute Global Conference in Beverly Hills, California. Credit: REUTERS/Phil McCarten)

Oil prices drop after reports that the US and Iran are close to a peace deal. Donald Trump says the war could end with an agreement, and warns strikes will return if not.From the Gulf, we hear how the conflict is already reshaping investor thinking.India is chasing $20 billion in trade with Vietnam as leaders from both countries meet to deepen economic ties.And are weight‑loss drug makers facing a new dose of competition?Presenter: Bisi Adebayo Producer: Niamh Mc Dermott

With the US and Iran trading fire in the Strait of Hormuz, the ceasefire wobbling and oil prices continuing to rise, Sam Fenwick discusses the latest developments as the situation in the Persian Gulf continues to fray. We hear from Nikolas Tsakos, founder and CEO of one of the world's largest independent tanker operators, as well as trade union representative Sascha Meijer, on what this means for those stuck on tankers in the Middle East. Elsewhere we tell you why the price of oil you hear on the news may be misleading, and what it could mean for your fuel bills if the US-Iran conflict drags into next year. Plus, with fashion retailer GAP's co-founder Doris Fisher passing away, we speak to Catherine Shuttleworth on changing fashions of the high street. Global business news, with live guests and contributions from Asia, Europe and the USA. (Picture: US secretary of state Marco Rubio discussing the situation in the Strait of Hormuz within the James S. Brady Press Briefing Room at the White House in Washington DC, USA, on 5 May 2026. Credit: Kylie Cooper / Reuters)

The ceasefire between Iran and the US is looking increasingly fragile after another day of attacks in the Strait of Hormuz. As tensions rise, so are concerns about the welfare of the 20,000 seafarers believed to be stranded around the passage.In Brussels, European finance ministers have been meeting to discuss the economic impact of the war.And why is the Met Gala, fashion's biggest night under a controversial spotlight?Presenter: Bisi Adebayo Producers: Niamh Mc Dermott and Barbara George

Are ships moving in the Persian Gulf and could it lead to the resumption of hostilities between the US and Iran? Andrew Peach finds out more on the latest developments and speaks to maritime expert Captain John Konrad. Meanwhile, with two clubs celebrating joining the English Premier League, we hear about the financial challenges facing those joining football's elite. And, why the success of the vintage clothing industry is attracting criminals. Global business news, with live guests and contributions from Asia, Europe and the USA.(Picture: Vessels in the Strait of Hormuz near Bandar Abbas, Iran, on 4 May 2026. Credit: Amirhosein Khorgooi / ISNA / West Asia News Agency, via Reuters.)

Video game retail chain GameStop has made a surprise $56bn bid to take over the online marketplace eBay. GameStop's CEO says he plans to create a competitor to Amazon.Also, the US military says it's started guiding ships through the Strait of Hormuz as part of President Donald Trump's “Project Freedom”.And steel boss Lakshmi Mittal and vaccine maker Adar Poonawalla have bought a majority stake in Indian Premier League cricket team the Rajasthan Royals for about $1.65bn Presenter: Bisi AdebayoProducers: Niamh McDermott and Barbara George

The US President Donald Trump has announced a new hike on cars and trucks imported from the European Union, accusing the EU of not adhering to their trade deal. In the meantime, Beijing has announced that fifty-three African states will be enjoying trade-free trade with China - all except one, the small land-locked state Eswatini, as it recognises Taiwan. And in France there is confusion over a new law allowing bakeries to stay open on the 1st of May. Picture: "U.S. President Donald Trump attends an event at The Villages Charter School at The Villages". Credit: Reuters

A third of the world's fertiliser is sourced from the Persian Gulf region. Farmers' are now predicted to produce smaller crops this year, affecting 10 billion meals a week. French car maker Renault says there's been a huge increase in interest in electric vehicles since the start of the war in the Middle East. And "slàinte mhath" or "cheers" in English! The USA is to cut import duties on scotch whisky, following the recent visit of King Charles II.

We hear how oil prices have been swinging sharply, with Brent crude briefly hitting 126 dollars a barrel as tensions in the Gulf raise concerns about supply and the wider global economy. Saudi Arabia is to stop funding the LIV Golf tour after spending billions to lure top players away from the PGA Tour. And in India, a surge in digital scams has cost victims around two and a half billion dollars, prompting the central bank to step in. (Image Credit: FILIP SINGER/EPA/Shutterstock (16852987h) A display shows fuel prices in euro at a petrol station in Berlin, Germany, 30 April 2026.)

The price of Brent crude hit a four year high on Thursday before falling back. Markets were reacting to comments from President Trump about maintaining Strait of Hormuz blockade.Gulf oil producers are running out of storage space for oil production, as exports remain restricted.And Saudi Arabia is pulling its funding of the LIV golf tour, after investing around six billion dollars since 2021.

Jerome Powell says he will continue to stay on as Federal Reserve Governor, even after his chairmanship ends. We look at what this means for the future of the US central banking system. Three ships have been hijacked off the coast of Somalia in the past week. We look into concerns of maritime piracy in the area, as experts warn reduced naval patrols could be creating an opening for armed groups. And we go to India where we hear how the glass industry has been suffering due to the war between the US, Israel, and Iran.(Image credit: Jerome Powell, during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, April 29, 2026. Photographer: Daniel Heuer / Bloomberg via Getty Images)

Oil prices have jumped despite the UAE exit from the OPEC groups of oil producing countries - we'll be looking at why. And more pressure is pilling on social media as a report finds Meta is in breach of EU law for failing to stop under 13 from using Facebook and Instagram. Presenter: Sarah Rogers Producer: Victoriya Holland Editor: Justin Bones

The United Arab Emirates is leaving OPEC and OPEC+ after nearly 60 years of membership, we find out what triggered them to leave. In the US, we hear what is being said in the major court battle between Elon Musk and ChatGPT founder Sam Altman. And we ask if lab-grown diamonds are better for the environment.[Picture: An oil drum with featuring the logo of the Organization of the Petroleum Exporting Countries (OPEC). Photo credit: Andrey Rudakov/Bloomberg via Getty Images.]

The United Arab Emirates (UAE) has said it is quitting the Opec and Opec+ groups of major oil producing nations after nearly 60 years.As people continue to feel the pain at the pumps, energy giant BP has announced massive profits - meanwhile oil prices continue to climb.And with the World Cup just weeks away there's a race to finish Mexico City's airport and stadium before kick off.

Diamond mines across Sierra Leone are closing, deepening economic uncertainty and raising fears of further conflict. Our presenter Ed Butler travels to the country's mining region to uncover what's behind the shutdowns.In the US, a court case is underway between the world's richest man, Elon Musk, and the head of OpenAI, Sam Altman.And amid ongoing LNG export uncertainty, could coal be on the rise again? We find out what this means for countries in Asia and a mining community in America.

Airlines could start going bankrupt the boss of one aviation company tells World Business Express. And why two tech titans are heading to the courts in California. Presenter: Sarah Rogers Producer: Victoriya Holland Editor: Justin Bones

US consumers are feeling less confident about their economy than at any other time. We hear from researchers and businesses about why war in the Middle East is making households fearful of the cost of living and rising energy prices. And, we hear from one of the bosses of electric vehicle giant BYD about how its performing amid the global shift away from fossil fuels. Also, how table-top board game Warhammer is riding the zeitgeist to win new fans.

The Bank of England expects stock markets around the world to fall as share prices are not reflecting the many risks facing the world economy, so says the Bank of England Deputy Governor and head of financial stability Sarah Breeden. It is unusual for a senior figure at the Bank to be so forthright on market movements. Breeden, who is also the Bank's head of financial stability, declined to say when she expected markets to fall or by how much, but pointed to a number of factors that markets seemed complacent about. The Chinese artificial intelligence company, DeepSeek, has released a preview version of its long-awaited new model, allowing users to test its capabilities and features. DeepSeek introduced its first open source model last year, causing turmoil in western tech markets because of its matching capabilities with American rivals and low cost. The firm says its V3 model achieves strong performance against others. And one of the world's biggest car shows has been showcasing the very latest electric car technology. The timing of the Beijing show is pivotal - as the Iran war pushes up fuel prices, global demand for EVs is accelerating.Presenter: Leanna Byrne Senior producer: Craig Henderson

Shareholders of Warner Brothers Discovery have approved its sale to media conglomerate Paramount Skydance, with the merger valued at $110 billion. Rahul Tandon looks at what the deal could mean for competition, content and consumers.Also, BP suffers a shareholder rebellion over climate reporting.And Meta announces plans to cut around 10% of its workforce.(Picture: The studio lot at Warner Bros. Studios is seen in Los Angeles, California, USA, 23 April 2026. Credit: CHRIS TORRES/EPA/Shutterstock)

The shareholders of Warner Brothers Discovery have voted yes to an hundred billion dollar acquisition by Paramount. After fighting off Netflix to reach an agreement, the vote for Paramount became a formality....but then the next battle begins with the regulators.Tens of thousands of employees of Samsung have been protesting at a major factory in South Korea.And why China businesses are feeling the squeeze from the economic impact of the US-Israeli war with Iran.Presenter: Andrew Peach Senior Producer: Craig Henderson

Iran has seized two cargo ships and warned that reopening the Strait of Hormuz will be “impossible” if a US blockade continues. Sarah Rogers asks what that means for the US and hear from a business operating inside Iran.We also hear how businesses are expecting to benefit from a $100 billion EU loan to Ukraine.And Tesla reports higher than expected first-quarter profits.(Picture: Ships and boats in the Strait of Hormuz, Musandam, Oman, April 22, 2026. Credit: Reuters)

The European Union has unlocked a $100 billion loan for Kyiv - money that's been stuck for months. Hungary had been holding it up, arguing it wasn't receiving Russian oil through a key pipeline that runs across Ukraine. That line was damaged after a Russian strike earlier this year, but Kyiv says repairs are now complete and oil is flowing again.Plus, we get a rare insight into what it's like trying to run a shop or even buy bread in Iran these days.And we look at the rise of quality Chinese retail brands, challenging the perception that “Made in China” means cheap and of poor quality.

Andrew Peach is joined by George Conboy as we look at Kevin Warsh's grilling before the US Senate's banking committee and examine the prospects for the world's largest economy, with expert analysis from economist Courtney Shupert. With US president Donald Trump extending the ceasefire with Iran, we speak to oil analyst Sarah Emerson about how American oil firms are benefiting from the disruption in the Middle East. And we travel to the Canary Islands to find out how tourism is increasingly turning to sport in the race for profit. The latest business and finance news from around the world, on the BBC. (Picture: Kevin Warsh, US president Donald Trump's nominee to be the next chair of the US Federal Reserve, at the end of a Senate Banking Committee confirmation hearing on Capitol Hill in Washington, D.C., 21 April 2026. Credit: Reuters / Kevin Lamarque)

Kevin Warsh - Donald Trump's nominee for the post as chairman of the Federal Reserve, the US central bank - appears before senators in a bid to convince them he is the right man for the job. Some senators have threatened to block him unless a criminal probe into the current Fed chair Jay Powell is dropped.Plus, the end of an era at Apple as Tim Cook steps down as CEO. We look at his replacement.And the conflict in the Middle East puts a dampener on the German economy.

Andrew Peach hears from businesses reclaiming 'Liberation Day' tariffs in what promises to be the biggest repayment programme in history. Elsewhere, electric car sales have increased by 50% - in part due to the rise in fuel prices. And, we find out why nostalgia is still what it used to be in the world of advertising.(Photo by FILIP SINGER/EPA/Shutterstock)

Global financial markets have headed south again after tensions between the US and Iran took a turn for the worse over the weekend. American forces attacked and then seized an Iranian cargo ship just east of the Strait of Hormuz, and Iran has responded by saying it will retaliate. Plus, the BBC's Nick Marsh has been looking at a story that's been quietly building in financial markets. Traders placing big bets just before major announcements by US president Donald Trump, including during the Iran war. BBC analysis suggests it may be happening more often than we thought.

Iran has announced that the Strait of Hormuz is open, but the Secretary General of the International Maritime Organisation tells us he wouldn't advise ships to use it, yet. Andrew Peach looks at how the impact of the ongoing conflict in the Middle East is continuing to affect oil and petrol prices. Elsewhere the International Monetary Fund and the World Bank have resumed dealings with Venezuela, nearly two decades after its former president Hugo Chávez cut ties. And we look at what's happening in the gaming industry where its stars are at the BAFTA Games Awards in London. Global business news, with live guests and contributions from Asia, Latin America and the USA. (Picture: A vessel at the Strait of Hormuz, off the coast of Oman's Musandam province on the 12th of April, 2026. Credit: Reuters)

Iran's Foreign Minister says ships can again use the crucial Persian Gulf sea route while a ceasefire continues to hold. Markets have reacted sharply to the news. The price of Brent Crude fell 10 percent on the news. Shares in oil companies have fallen, while shares in airlines and other heavy energy users have risen sharply. And we hear from Lebanon about how the country's economy is faring.