World Business Report

Tech giant Nvidia says it will launch a new “superchip” for personal computers, marking a major new venture for the world's most valuable company. Plus, Softbank eclipses Toyota to become Japan's biggest company by market value, and we look at what a rise in fertiliser prices – triggered by war in the Middle East - means for farmers in India.

With an uncrewed Blue Origin rocket exploding during a hot fire test at Cape Canaveral, Florida, we speak to former NASA engineer Sinead O'Sullivan about how much of a setback it is for Jeff Bezos business in the space race while Elon Musk's SpaceX firm's IPO gets ever closer. Leanne Byrne finds out why the US travel industry is warning that plans being considered by Donald Trump's administration could cost the economy billions of dollars and disrupt one of America's busiest international gateways just weeks before the FIFA World Cup. Elsewhere, we discuss why tech companies in Silicon Valley are hiring philosophers, and do Africa's wealthiest people have a responsibility to help tackle inequality? Global business news, with live guests and contributions from Africa, Europe and the USA. (Picture: Fire during an explosion of the uncrewed Blue Origin's New Glenn rocket during a test on a launchpad in Cape Canaveral, Florida, US, on 28 May 2026. Credit: NASASpaceflight.com / Reuters.)

The Shangri-la forum is Asia's largest annual defence conference. Politicians, military and industry figures are all in attendance.AI giant Anthropic is valued at more than its rival Open AI.And Jeff Bezos' Blue Origin rocket self-combusts spectacularly on the launch pad in Florida.

Outdoor apparel company, Patagonia, has sued a drag queen named Pattie Gonia for allegedly causing "irreparable" damage to its brand.Mangoes have become a hot commodity following a steep increase in shipping prices due to the ongoing war in Iran. This follows reports of 90% losses to India's 'king of mangoes' crop after unusual weather. The European Union has imposed a €200m fine on Chinese-owned online retailer Temu for having illegal products such as dangerous baby toys and faulty chargers for sale on its platform.(Picture: Evan Benally Atwood/ Pattie Gonia)

The Russian rouble has surged to its strongest level in more than three years on the back of widening trade imbalances and high interest rates.Cofffee prices have jumped around the world in recent years. What's the cause?And a Google engineer has been charged with breaking insider trading law to make bets on a prediction market betting site.

DJ J Worra says she's been fooled by AI but believes the human touch will always supercede it. It comes after Spotify launch a new tool allowing fans to create covers and remixes of their favorite songs from participating artists and songwriters.Oil prices have fallen more than 5% after Rubio says that US will give Iran talks 'every chance to succeed', with Iran reporting details of draft peace proposal. Fifa has been ordered to explain World Cup ticket pricing after allegations of 'artificially inflating prices' and 'misleading fans' over the sale of tickets for the 2026 tournament. (Picture: U.S. President Donald Trump and Secretary of State Marco Rubio attend a cabinet meeting in the Cabinet Room at the White House, in Washington, D.C., U.S., May 27, 2026. REUTERS/Evan Vucci)

Workers at Samsung Electronics in South Korea have voted for a massive pay deal. It will mean some workers – particularly those in the AI chip department – receiving a bonus of more than $400,000. Also in the programme, why it's going to be a very expensive Eid al-Adha this year for Muslims due to global inflation.Presenter: Leanna ByrneProducer: Barbara George

Oil giant BP has removed its chairman Albert Manifold with immediate effect over concerns including "bullying" and "overbearing" behaviour by himPetrol and diesel prices in India continue to rise, reflecting a weak rupee, heavy taxes and lingering geopolitical risks. And EU agricultural ministers met in Brussels today to come up with a long-term strategy to solve the rising cost of fuel and fertiliser facing farmers. But will this stop the ongoing protests?

Former F1 team manager Professor Andrew Graves gives us his take on Ferrari's electric gamble as they unveil their latest product, an electric vehicle they are calling the Luce. And we hear from an Indian fruit farmer as their mango crop is crushed by extreme weather.

Pope Leo has warned that artificial intelligence poses potentially existential risks to humanity and should not be used to concentrate power in the hands of just a few people.Oil prices have fallen sharply on hopes of a deal that could bring an end to the US-Israel war with Iran.And the Italian luxury car giant Ferrari has launched its first ever ever fully electric vehicle called Luce, with a price tag of almost 600,000 dollars. So what does this mean for the electric car market?

The Finnish company behind the brand Oura, the maker of the health and wellness tracking ring has now filed to become a public company in the U.S. The company is valued at about $11 billion. And Pope Leo has raised his strong concerns on the development of Artificial Intelligence.

The new chair of the world's most powerful central bank is being sworn in at the White House today. Kevin Warsh becomes the 17th Chair of the Federal Reserve at a very tense moment for the US and global economies.He's an advocate for cutting rates. something President Trump has long demanded.Also, why were 2 boxes of Japanese Melons worth $36,500?

Artificial intelligence companies including OpenAI, Anthropic and SpaceX are preparing for potential stock market listings in 2026, as investor interest in the sector pushes combined company valuations towards the trillion-dollar mark. President Trump has also decided against signing a planned executive order on AI regulation today, a move being closely watched by technology companies and investors. And Universal Music Group and Spotify have signed a new agreement around AI-generated music — including covers and remixes that imitate artists' voices and styles — raising fresh questions about ownership, consent and how musicians should be compensated in the age of AI. (Picture: REUTERS/Kent Nishimura)

Elon Musk's space X is going public, in what could be the biggest initial public offering in history. Leanna Byrne speaks to Dr Stephanie Hare about the significance of the IPO.We also hear from Azadeh Moshiri in India about why the cockroach has unexpectedly become India's new political mascot.

Ryan Breslow let go of 30% of his workforce, plus his entire HR department. He defended this by saying they 'created problems that didn't exist.' And, AI giant Nvidia is the first company to be worth $5 trillion, following their fiscal first-quarter earnings announcement. This comes after their CEO was in Beijing with President Trump last week where he said he'd like to sell more microchips to China. Plus, Arsenal are champions of the 2025-26 Premiere League. How much more money will one of the richest football clubs in the world have to look forward to?

Hot on the heels of the US President, the Russian leader is the latest to meet with President Xi in Beijing, signing over 20 agreements on trade and technology.The two leaders failed to come to an agreement on a long awaited Russian gas pipeline between the countries. China is Russia's top trading partner and also its biggest customer for oil and gas.Elsewhere, we hear from Greenland where President Trump's envoy has turned up at one of the country's biggest business conferences.

The former Google CEO got heckled at a graduation ceremony at the University of Arizona. The editor-in-chief of their student paper The Daily Wildcat tells us why. We also discuss fuel price hikes in India as Prime Minister Narendra Modi concludes his European visit in Norway. And with data centres springing up all over the world, the communities living near them share how they cope with the disruptions they can bring. Plus, Kenya's government has cut diesel prices after people took to the streets to protest rising costs. An Uber driver and farmer tell us about the impact it's had on them.

Deadly protests in Kenya have forced the government to cut diesel prices after a sharp jump in fuel costs, driven by supply pressures from the Middle East conflict.Roads into the Nairobi were blocked, tyres burned and public transport disrupted as anger grows over fuel hikes.A nationwide transport strike has now been called off for a week as negotiations take place.And what next for Elon Musk after his lawsuit against OpenAI fell flat?

Tech journalist Kara Swisher describes Elon Musk and Sam Altman as 'toddlers' as their trial concludes. In a unanimous verdict, the jury agreed that Elon Musk's claims essentially expired after waiting too long to file his lawsuit. Plus we hear from a New York cabbie who expects a deal to be made as over 3,000 transport workers staged a strike following the breakdown in talks with the Metropolitan Transportation Authority.

Long Island Rail Road workers walk out, leaving hundreds of thousands of commuters scrambling for alternatives and raising concerns about the wider economic impact of the disruption.Elsewhere, rising fuel prices around the world have led to a nationwide strike by public transport operators in Kenya. While in India the rupee has hit a historic low, with oil prices are up and imports becoming more expensive.

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.