World Business Report

Is the White House at war with the Federal Reserve?

Sam Fenwick examines a growing political storm at the world’s most powerful central bank, as US prosecutors investigate the Federal Reserve and its chair. At Meta, a former adviser to Donald Trump steps into one of Silicon Valley’s biggest jobs, prompting new scrutiny of Big Tech’s relationship with Washington. And in the Caribbean, Cuba faces a potential energy crunch after oil shipments from Venezuela come to a halt. (PHOTO: U.S. President Donald Trump and Federal Reserve Chair Jerome Powell speak during a tour of the Federal Reserve Board building in Washington, D.C., U.S., July 24, 2025. Credit: REUTERS/Kent Nishimura/File Photo).

Fed Chair hits back at criminal investigation

The Chair of the US Federal Bank Jerome Powell has released a statement in which he says a criminal investigation is about whether the bank can change interest rates based on what will serve the public rather than what the President wants. Donald Trump has denied he knows anything about the investigation which is focused on testimonies given to Congress last year on building work being carried out at the Fed's HQ. Also we hear from a shopkeeper who's been protesting over economic conditions in Iran. The X-owned AI platform Grok has been banned in Malaysia and Indonesia And the boss of beer giant Heineken is stepping down as the Dutch based multi-national faces falling sales. Presenter: Leanna Byrne Editor: Justin Bones

President Trump lays out plans for Venezuela's oil reserves.

The US president, Donald Trump, has met top American energy executives in the White House, saying his government will choose which US firms can exploit Venezuela's vast oil reserves. Also, Elon Musk's social media site X could face a UK ban over a feature enabling users to create fake, sexualised images of women. And why the search for more protein and fibre means some takeaway food stores are feeling the pinch. (PHOTO: A model of an oil pump is seen in front of a Venezuelan flag in this illustration taken January 9, 2026. Credit: REUTERS/Dado Ruvic/Illustration). Presenter: Andrew Peach Editor: Craig Henderson Producer: Ahmed Adan

EU-Mercosur deal gets green light

A free trade agreement between the European Union and the South American trade bloc is approved, but some countries aren’t happy. We speak to a European Commissioner for Trade about the deal. And there's another big deal brewing - this time in the mining sector, as Glencore and Rio Tinto are in preliminary talks about a takeover worth two hundred and seven billion dollars. A mining analyst gives us his take on what it could mean for the industry. And how has news of that deal affected markets? We’ll be finding out.

Greenland is not “an object to be acquired”, minister tells BBC

As President Trump and European leaders have their say about Greenland, BBC’s Andrew Peach hears from Greenland’s business minister, Naaja Nathanielson. And, in a few weeks, a group of potential investors and hedge fund managers will be heading to Venezuela after its president was forcibly removed by the US. We will hear of those heading to Caracas. Also, beef prices in the US are at record highs – they went up by 22% last year. (Photo: The Greenlandic flag Erfalasorput flies on the Tivoli Castle in Tivoli in Copenhagen, Denmark, 08 January 2026. Credit: Ida Marie Odgaard/EPA/Shutterstock) Presenter: Andrew Peach Editor: Craig Henderson Producer: Ahmed Adan