World Business Report

China and Canada reset trade relations after talks

China and Canada strike a trade deal after a high stakes meeting between the Canadian Prime Minister Mark Carney and President Xi. And Europe and South America sign a trade deal after twenty five years. The EU-Mercosur agreement will require the approval of the European parliament within the next few months.

Europe and South America to sign free trade deal

The agreement, between the South American trade bloc Mercosur and the European Union which is set to be signed this weekend, has been 25 years in the making. The deal will eliminate import taxes or tariffs on more than 90 percent of goods traded between Europe and the South American nations. Europe hopes to boost its exports of cars, machinery and medicines, while South American farmers see a huge new market for their crops and produce. Meanwhile, Canada and China have also been making a deal of sorts, what they call a new strategic partnership. And research in Kenya has shown that many young people would choose to be a Tiktoker or a YouTuber over a more conventional job, like a doctor or a lawyer.

Container ships changing course to the Red Sea

Two years on, one of the world’s biggest shipping companies - Maersk - says it’s preparing to return to the Red Sea — and in aviation, Chinese-made passenger jets may be edging closer to European skies. Also today — new data suggests Iran’s internet blackout has cost the economy around 260 million dollars in lost business activity.

Nations begin to put a stop to Grok

Several governments have been piling pressure on Musk’s AI company, xAI, after Grok was used to generate a flood of sexually explicit and non-consensual images, including of women and children. X says it will now geo-block the creation or editing of images showing people in bikinis, underwear or similar clothing in countries where that content is illegal and restrict image generation on Grok to paid subscribers only. Talks between the US, Denmark and Greenland have been called "frank but constructive", resulting in what the Danish foreign minister described still as a "fundamental disagreement" over the future of Greenland. And Wikipedia turns 25, we hear from it's founder.

Could a cap on credit-card rates really hurt consumers?

President Trump wants to cap credit card interest rates at 10% for a year. But the big banks warn that could limit lending and hit the most vulnerable first. Also today - why prices for metals like copper and tin are hitting record highs, we'll investigate what's behind the surge. And despite fresh US tariffs under President Trump — and a volatile global economic backdrop — China posted a record trade surplus of around $1.2 trillion. Picture:Illustration shows Bank of America, Citi bank and Wells Fargo credit card mockups, Reuters