World Business Report

The company TSMC is riding the artificial intelligence investment wave all the way to the bank, as profits surge at the Taiwanese advanced chip manufacturer. Our correspondent in New York City will dig into the latest jobs and spending data - has the city's big summer of events made consumers feel more confident? And we head to Europe's biggest port - Rotterdam - to hear about a court case locals have taken to force the industrial hub to go greener, faster. World Business Express - Finance, economy and business news from BBC journalists around the world.

The World Cup hydration breaks are giving players the chance to cool off, but we look at why this is an advantage for advertisers. Venice is now charging day-trippers up to $11 to enter the city in the latest efforts to tackle over tourism, we take a look at what impact this will have on local businesses. And the Toy Story 5 film is out today, we take a look at why the film's franchise has been a huge success for over three decades. Presenter: Vishala Sri-Pathma Producer: Barbara George and Parisa Qurban (Photo by Buda Mendes / Getty Images)

The US and Iran agree deal to end war and could lead to supplies of gas and oil flowing more freely across the world. We hear from the Secretary-General of the International Maritime Organization (IMO) and from one of the world's biggest container shipping firms - Hapag-Lloyd. And as the UK ban socials for under 16's is that the right approach? And how it will affecting businesses?

The US and Iran have reached an agreement to reopen the Strait of Hormuz. We will be hearing what this mean for oil prices in the global market. In the UK there's a ban on under 16's on social media. The UK says it it going further than other countries to remove high-risk features on gaming platforms and livestreaming sites. And Starbucks across South Korea close for a staff history lesson - after a marketing stunt went horribly wrong. Presenter: Sarah Rogers Producer: Barbara George

Elon Musk has become the world's first trillionaire after SpaceX shares soared following the company's stock market debut in New York. Andrew Peach examines what's driving the company's remarkable rise from its Starlink satellite business to the enduring appeal of the Musk brand. Also on the programme, Switzerland is preparing to vote on proposals to limit population growth. But could restricting migration come at a cost to the country's economy? And we'll assess the legacy of one of the art world's biggest names, as David Hockney dies aged 89, and ask what continues to make his work so sought after and valuable. (Picture: A billboard of SpaceX is pictured on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite, in New York City, U.S., June 12, 2026. REUTERS/Jeenah Moon)

Today is the day SpaceX begins trading on public markets after raising around $75 billion in one of the largest listings on record, valuing the company at nearly $1.8 trillion. Broader markets are also edging higher, with investors weighing whether enthusiasm around SpaceX is part of a wider surge linked to major AI-related listings still to come. There is also growing focus on the personal implications of the listing. The scale of the valuation raises the possibility of Elon Musk entering the trillion-dollar club, prompting questions about what that means in practice Presenter: Leanna Byrne Producer: David Cann

El Niño has officially begun, according to scientists at the US National Oceanic and Atmospheric Administration. Will Bain examines what the climate phenomenon could mean for food prices, energy markets, economic growth and weather patterns around the world. We'll also look ahead to Friday's huge Initial Public Offering in shares in SpaceX. And the World Cup is under way. We hear from businesses and residents about the opportunities, disruptions and expectations as the tournament gets started. (Picture:Indonesian farmers brace for possible dry spell linked to El Nino. Indonesia, June 4, 2026. REUTERS/Willy Kurniawan)

Wall Street is preparing for what could be the biggest IPO in history as SpaceX gets ready to begin trading on the public markets. We look at the final steps before launch, what investors can expect, and what the listing could mean for the wider technology and space sectors. Also on the programme, the European Central Bank has raised interest rates for the first time in almost three years as policymakers respond to inflationary pressures across the eurozone. Nearly a year after the crash of Air India Flight 171, investigators are expected to provide an update. But the inquiry has become increasingly controversial, with competing theories about what caused the disaster and growing scrutiny of the investigation itself. And the World Cup kicks off in Mexico. We head to Atlanta, one of the tournament's host cities, to find out whether businesses and residents are ready for the economic opportunities and challenges that come with football's biggest event. Presenter: Leanna Byrne Producer: David Cann

Gideon Long dives into the latest US inflation figures after prices rose at their fastest pace in three years. We hear from American business owners on the front line of rising costs. We also turn to China, where inflation remains far lower than in the United States, and examine what the latest figures reveal about the strength of the world's second-largest economy. And with the FIFA World Cup approaching North America, how are businesses preparing for the economic opportunities the tournament could bring? (Picture: Fuel prices are displayed outside a gas station in Washington, DC, USA, 22 May 2026.JIM LO SCALZO/EPA/Shutterstock)

The cost of goods in the United States is rising at its fastest pace in three years, with inflation driven mainly by soaring energy prices since the start of the war in Iran. Economists say the energy shock is feeding through into broader price pressures across the world’s largest economy. Meanwhile, Taiwan’s TSMC, a key player in the global AI boom and the centre of the US-China tech rivalry, has been speaking exclusively to the BBC about whether it can keep up with surging demand for advanced chips. And with just a day to go, large numbers of World Cup 2026 tickets are appearing on resale platforms. Presenter: Leanna Byrne Producer: David Cann

The UK competition watchdog started the investigation into Paramount Skydance's $110bn takeover of Warner Bros Discovery. We ask the former CMA director how will it affect the deal? Also, why is Switzerland going to restrict the number of the population in the country? And we look into one of the most successful IPO - SpaceX.

Chinese President Xi Jinping has wrapped up a two-day visit to North Korea featuring military honours, public displays of friendship and talks with Kim Jong Un. While few concrete agreements emerged, the trip sends a clear signal that Beijing wants to strengthen its relationship with its isolated neighbour. Plus, Indonesia's central bank has unexpectedly raised interest rates in an effort to stabilise the rupiah after its sharpest decline in years. And the race to public markets is accelerating. Just days before SpaceX is expected to begin trading, OpenAI, the company behind ChatGPT, has confidentially filed for an initial public offering. We look at what could be one of the most significant listings in the technology sector for years. Presenter: Leanna Byrne Producer: David Cann

A federal judge has overturned the $100,000 H 1B visa application fee ordered by President Donald Trump saying it's an unlawful tax. IATA, the airline industry's main body says it likely to miss its key emission target. And China's Xi Jinping is in North Korea. What's he after?

Global stock markets have fallen sharply after a sell-off in technology shares combined with growing uncertainty over tensions in the Middle East. South Korea's Kospi index briefly suspended trading after plunging at the open, while Japan's Nikkei also suffered heavy losses. Plus, Chinese President Xi Jinping is in North Korea for talks with Kim Jong Un. We look at what the visit could mean for trade and economic ties between the two neighbours. Oil prices initially surged before easing back. We ask what that tells us about how investors are assessing the risk of a wider regional conflict. And Prada has entered the space race. The Italian fashion house has helped develop part of a new spacesuit for future NASA missions. Presenter: Leanna Byrne Producer: David Cann

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.

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)

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 Adebayo Producers: Niamh McDermott and Barbara George

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.

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.

The head of the International Energy Agency Fatih Birol says the blockade in the Strait of Hormuz could trigger what he calls the largest energy crisis the world has ever faced. He's warned Europe may have as little as six weeks of jet fuel left. It comes as airlines across the world struggle with fuel supplies and cost. Airlines in Nigeria are warning they may suspend flights from Monday over soaring jet fuel prices and South Korean Airlines say they will impose the highest level of surcharges they can on flights in May as global oil prices surge due to the tensions in the Middle East. Netflix's second quarter profits fall short of expectations and it announced that its chairman and co-founder Reed Hastings is stepping down from the board after 29 years. Netflix stepped back from a battle to control Warner Bros Discovery earlier this year. Sweden, one of the most technologically advanced countries in the world, will be going back to basics with the use of physical books, pens, and paper for their students, but some tech companies are concerned that the move could damage pupils' job prospects. And we explore why Allbirds whose trainers were worn by Hollywood stars and President Obama are getting out of footwear and into artificial intelligence.

That’s a warning from the International Energy Agency boss, Fatih Birol as the Middle East conflict continues to disrupt energy supplies. So what could that mean for airlines and travel? Plus, how did China’s economy grow by 5%, faster than expected despite the Iran war? And Australia’s fuel supplies face added pressure after a major fire at one of the country’s two oil refineries.

President Trump has threatened to fire US Federal Reserve chair Jerome Powell if he does not step aside next month, raising concerns over central bank independence and market uncertainty. Pakistan remains involved in diplomatic efforts over the US, Israel and Iran conflict, as questions grow over whether this could bring any economic benefit amid domestic pressure. And travellers across several European airports are facing long delays due to the EU’s new entry and exit system, with some missing flights after hours in queues. (Photo: U.S. President Donald Trump and Federal Reserve Chair Jerome Powell speak during a tour of the Federal Reserve Board building, in Washington DC, July 24, 2025. Credit: REUTERS/Kent Nishimura)

World finance ministers meeting in Washington have been voicing their anger and frustration at the US because of the financial strains being placed on the global economy caused by its military offensive in the Middle East. Rachel Reeves from the UK described the US-Israeli war with Iran as 'folly' while France's finance minister Roland Lescure called for renewed efforts to unblock the Strait of Hormuz. The calls come as Iran's military widens its threats on shipping the Gulf to include the Red Sea and the Gulf of Oman - if the US naval blockade of Iranian ports continues.  The International Monetary Fund has been warning of the risk of a global recession at its Spring Conference in Washington DC. There was further evidence of these concerns today. Hermes is the latest fashion house, after LVMH and Gucci-owner Kering to say sales have been weaker than expected at the start of this year...with spending hit both in the Middle East, but also fewer tourists visiting Paris and buying handbags and designer clothes. And there has been continued unrest in parts of India over wages, as the increased costs of living caused by the crisis continue to hurt the economy.  Also in the programme - are hedge fund managers cashing in on the uncertainty of whether firms will receive refunds on tariffs? And we discover why Google is clamping down on so-called ‘back button hijacking’...when sites mess with your browser so you can’t leave. Presenter: Leanna Byrne Senior Producer: Craig Henderson

With the Global recession warning from the International Monetary Fund, Andrew Peach looks at rising oil, gas and food prices, and how they could force central banks to keep interest rates higher for longer. Also, European airlines call for emergency support as the conflict disrupts aviation. And we ask whether America’s tipping culture improves service or simply keeps wages low. (Photo: People walk in front of the International Monetary Fund (IMF) HQ2 building in Washington, DC, USA, 13 April 2026. Credit: SHAWN THEW/EPA/Shutterstock)

In its World Economic Outlook report the International Monetary Fund says that, in a worst case scenario -  where oil, gas and food prices spike and remain high this year and next - global growth could fall below 2% in 2026. That's if the US-Israel war with Iran continues and high energy prices persist. It said the most severe conditions that could lead to a worldwide slowdown would include oil prices reaching an average $110 per barrel this year and hitting $125 in 2027. Based on these assumptions, the IMF said inflation could reach as much as 6% next year. This could force central banks to increase interest rates to slow the pace of price rises. We hear how Africa's fuel crunch continues - and hopes for a more stable future... Evergrande was once China’s biggest real estate firm, before its debt crisis sent shockwaves through the wider economy.. Today the founder of the collapsed property giant Hui Ka Yan pleaded guilty to a series of fraud charges. It's a case that marks a major moment in the fallout from the company’s collapse. And - how a gold pocket watch owned by a hero of the Sinking of the Titanic could fetch up to one hundred and thirty five thousand dollars at auction... Presenter Leanna Byrne Senior Producer: Craig Henderson

As President Trump blocks ships travelling to and from Iran through the Strait of Hormuz, how will this affect Iranian oil exports? The Philippines has suspended taxes on paraffin and cooking gas to help keep food prices low; we hear from a chef who tells us how this will impact his restaurant business. With Victor Orban ousted, what does the future hold for Hungary under newly-elected Peter Magyar’s leadership? And, Bollywood icon, Asha Bhosle has died leaving behind an over $20 million empire of restaurants and music royalties.

The US has begun its blockade  of the key shipping route the Strait of Hormuz after talks with Iran failed to reach an agreement. President Donald Trump says it's in response to Iran "knowingly failing" to reopen the strait. Iran says the blockade is illegal and has accused the US of piracy. It's estimated that around 800 vessels are stuck in the Straits, many loaded with cargo. As the blockade begins we look at what guidance is being offered to shipping companies shipping companies. As the people of Hungary wake up to a new political leadership we look at the challenges facing its ailing economy after Viktor Orban steps aside, and closer ties with the EU are firmly on the agenda for the winner Peter Magyar and his Tisza party. And we pay tribute to the woman who inspired the 90s classic song 'Brimful of Asha' as thousands gather in Mumbai to celebrate the life of one of Bollywood's biggest playback singers Asha Bhoslay  who has died aged 92 and leaves behind an empire worth almost 27-million-dollars.

From a fruit and vegetable store to a global empire, Samsung’s story is more than business - it’s an epic family saga. Behind the success lies a dynasty driven by ambition, wealth, tradition and rivalries, where power struggles shaped not just the company but South Korea’s economy. Everyone’s heard of Samsung; more than a billion people have one of their smart phones. This is the drama behind the tech giant that changed the world. For most of Samsung’s history, the ruling Lee family was all but untouchable. But when the chairman has a huge heart attack, his heir is pushed into the spotlight. The complex manoeuvring to secure his fragile succession re-opens old family wounds, prompts one of the biggest scandals in South Korea’s history, and - eventually - helps bring down a president. In this brand-new 10-part series from the BBC World Service, we take you behind closed doors - inside the billion-dollar deals and the family power struggles that shape global empires. In these dynasties, the boardroom isn’t just about profit - it’s about survival. Hosted by journalist and podcaster Elise Hu.

After a 16-year rule, the nationalist prime minister of Hungary, Viktor Orbán, faces the opposing leader Peter Magyar in Sunday’s election. Leanna Byrne will hear from a restaurant owner and a recruitment firm boss in Budapest. Also, why is the Iran war affecting the price of glass bottles? Varun Gupta, the Director of Triveni Pattern Glass Pvt. Ltd. in India explains. And one of the most famous cricket grounds in London has come up with what it calls the ultimate home-working experience this summer. (Photo: People waving Hungarian flags as they attend an election campaign rally in Szekesfehervar, Hungary, April 10, 2026. Credit: Reuters/Leonhard Foeger).

The Strait of Hormuz remains almost shut to shipping, hurting economies around the world. In Ireland farmers and lorry drivers have been protesting high fuel costs. Plus, we hear from the owner of a hospitality business in the Middle East. And South Korean boyband BTS are back on tour.

Although the fragile ceasefire between Iran and the United States still holds, shipping through the Strait of Hormuz remains heavily disrupted, driving up fuel and fertiliser costs and leaving farmers in many parts of the world facing higher prices just as they head into the planting season. What does that mean for the price of food in your shopping basket? Sam Fenwick hears from Maximo Torero, chief economist at the UN’s Food and Agriculture Organization. Also, the ceasefire was meant to reopen the Strait of Hormuz, one of the most important shipping routes in the world. What does it mean for the seafarers trapped in the Persian Gulf? (Photo: A farm worker sprays fertilizer on a paddy field, in Malaysia on 01 Apr 2026. Conflict in the Middle East has driven up energy prices, raising the cost of transport, fertilizers, and food production. Credit: Photo by Fazry Ismail/EPA/Shutterstock).

For the first time in seven years, India has bought its first cargo of Iranian oil. India hasn't purchased any Iranian oil since 2019 because of US sanctions, but those restrictions were waived last month. Leanna hears from the BBC's Archana Shukla. Plus, its a big day for K-pop fans right across the globe as BTS, one of the world's biggest boy bands, have officially kicked off their new tour. Leanna Byrne hears from journalist Nemo Kim based in Seoul.

Reopening the Strait of Hormuz, an important global waterway, is part of the ceasefire agreement, as announced by the US government, but late on Wednesday, Iran warned that ships crossing the waterway without permission would be “targeted and destroyed”. Sam Fenwick will hear from Nils Haupt, the Head of Corporate Communications at Hapag-Lloyd, a German-based global shipping company. Also, markets rallied, and oil prices fell, but only hours later there were concerns about how long it might last and if there was enough time to stabilise the global economy. (Photo: Cargo ships in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s, March 11, 2026. Credit: Reuters/Stringer/File Photo/File Photo)