World Business Report

Trump gives Iran threatening deadline to reopen the Strait of Hormuz

United States President Donald Trump said the US will target civilian infrastructure if Iran doesn't open the Strait of Hormuz. He has given Iran a deadline of tomorrow to reopen the passage. But what happens if that deadline passes? And why are some vessels already allowed to pass through? Meanwhile, new shipping routes are opening in the Arctic. We hear why the United States is investing in a new fleet of icebreakers. Plus, a new Super Mario movie has become a box office success, despite early doubts.

Japan hints at talks with Iran as Middle East tension grows

Japan relies on the Middle East region for over 90 percent of its crude oil imports. Most of these imports transit the Strait of Hormuz, which Iran has effectively closed. Amid heightened geopolitical tensions in the Arctic, the United States has ordered a new fleet of icebreakers that will be built in Finland. And the Super Mario Galaxy film opened this weekend in the US. Despte poor reviews, audiences have been flocking to see it.

Is the Strait of Hormuz opening up again?

After weeks of disruption in the Middle East, ships are starting to move again through the Strait of Hormuz, a vital route for global trade and fuel supplies. But it’s still a fragile return, and the risks remain high for companies and crews. We’ll hear how the conflict is affecting seafarers, with thousands stranded or unable to get to work, and what that says about the wider impact on global shipping. We’ll also look at the knock-on effects for trade, with millions of kilograms of tea stuck in Kenya as exporters struggle to get goods moving. And in the US, hiring has picked up more strongly than expected — but we hear from people on the ground who say finding work is still a real challenge.

French container ship reportedly passes through Strait of Hormuz

Several sources are reporting that a French-owned container ship has successfully braved the troubled Strait of Hormuz. The CMA CGM Kribi is believed to be the first western vessel to pass through the passage since the outbreak of the US-Israeli war against Iran. It was not immediately clear how the vessel secured safe passage. It comes as Iran carried out two attacks on commercial plants in Kuwait and Abu Dhabi Also there's better-than-expected jobs news for the US. And we hear from a trade expert who examines President Trump’s latest tariff announcements of up to 100% on some imported medicines. And why the price of chocolate is remaining stubbornly high Presenter: Gideon Long Senior Producer: Craig Henderson

SpaceX eyes take off with over $1 trillion valuation

Elon Musk’s SpaceX is preparing to go public. Could it become one of the world’s most valuable companies? One year on from “Liberation Day”, when sweeping tariffs reshaped global trade, we ask who’s winning and who’s paying the price. And from bankruptcy to comeback, Leanna Byrne speaks to the boss of Polaroid about why instant cameras are thriving again. (Photo: NASA's SpaceX Crew-9 mission lifts off in a Dragon spacecraft, on a SpaceX Falcon 9 rocket, from the launch pad of Space Launch Complex-40 at Cape Canaveral Space Force Station in Florida, USA, 28 September 2024. Credit: Cristobal Herrera-Ulashkevich/EPA-EFE/REX/Shutterstock).