World Business Report

Ukraine takes aim at Russia's economy

Ukrainian drone strikes hit Wildberries warehouses across Russia, with 16 distribution centres damaged or destroyed in the past fortnight. As the country's biggest online retailer faces disruption and a Lukoil oil refinery is also hit, we examine why Ukraine is targeting Russian business infrastructure. Also, oil prices rise after Iran stops two vessels attempting to leave the Strait of Hormuz. We ask why crude has not surged even higher, and look at how China's hidden oil reserves have helped limit the impact on global markets. FIFA faces a growing backlash over plans to sell minority stakes in a new commercial entity controlling future tournament rights, with UEFA, other federations and senior figures inside FIFA pushing back against the proposal. Plus, we examine the collapse of an AI-focused hedge fund once valued at $45 billion, led by 24-year-old tech entrepreneur Leopold Aschenbrenner, after its assets were bought by a rival firm for less than $10 billion. Image Credit: STRINGER/EPA/Shutterstock

FIFA fallout: 'What's wrong with wanting to make money?'

Asian markets rebound strongly after a turbulent week for some of the world's biggest chipmakers. We look at what's behind the turnaround and whether investors are still worried about AI spending. Also, opposition grows to FIFA's plans to sell stakes in the World Cup to private investors. And another Ukrainian drone attack targets Russia, while China's factory activity unexpectedly contracts.

UEFA Shows FIFA the Red Card

We hear why UEFA is threatening to boycott future World Cups in a major showdown with FIFA over plans to create a new commercial entity to run its tournaments. As the row intensifies, we'll ask what it means for the future of football's biggest business with the New York Times' Tariq Panja. Also, the BBC's Nawal Al-Maghafi reports from Iran after a new wave of US strikes, looking at the impact on a country already facing deep economic and security pressures. And we look at Washington's move to restrict Chinese-made robots from entering the US market on national security grounds, and what it means for the future of automation and global trade. Photo Credit: Reuters

Is this the start of the robot wars?

The US has moved to block new foreign-made robots from its market over national security concerns, with Chinese manufacturers expected to be hit hardest. Beijing says it could retaliate. We also examine the health of the US economy, as growth disappoints and inflation remains stubbornly above the Federal Reserve's target. And Australia's internet regulator takes legal action against Telegram over its alleged failure to remove terrorist content.

Have FIFA scored an own goal?

We'll hear reaction from the world of football as Fifa offers federations $40 million each to rubberstamp its plan to sell some of its commercial rights. As FIFA sends a letter to football associations explaining the plan and giving them a deadline of mid-September to agree Also, we find out the bizarre story of why eBay had to pay one couple $56 million after a campaign of harassment. And why Cuba has moved to open crisis-ravaged parts of its state-run economy to private firms. Elsewhere we get the latest from the US Federal Reserve which held rates despite rising inflation. PHOTO CREDIT: Reuters