World Business Report

Tensions rise in the Persian Gulf

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)

What's life like for seafarers stuck in the Strait of Hormuz?

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

Hostility fears escalate in the Persian Gulf

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.)

GameStop wants eBay for $56bn

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

Trump announces 25% tariffs on cars from the EU

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