World Business Report
Analysis of the big global business and economic issues, as they affect consumers and investors. Broadcast on weekdays.
How important is the South Pars field to global gas supply?
With coordinated strikes on Iran's installations on the world's largest gas field and reprisals against facilities in Qatar, we ask what this means for the region and for supplies of gas worldwide. Conflict in the Middle East has already had an effect on airlines, with some carriers cancelling flights. We…
Oil shock spreads global strain
Oil prices have jumped above 109 dollars a barrel after airstrikes hit Iran’s South Pars gas field, the world’s largest natural gas reserve, shared with Qatar, raising fresh concerns about supply during an already volatile period. In Bangladesh, the impact of the oil price is becoming increasingly visible. The country,…
As oil price surges, will US fracking production increase?
The US Israel war with Iran has caused significant disruption to the global supply of oil and caused major economic upheaval. The US government has granted permission to domestic oil producers to drill in Alaska and the Gulf of Mexico, but much of America's oil comes from fracking. So will…
Oil prices continue surge
The escalation in the Middle East is continuing to drive up energy prices, with the Strait of Hormuz, a critical chokepoint for global oil shipments, effectively closed. We bring you the latest on oil prices and how wider stock markets are responding. Despite higher prices, US oil production is not…
Global financial fraud hits $442bn
A report out from Interpol states that an estimated $442bn dollars were lost worldwide last year to financial fraud. In its annual report, Interpol said AI-enhanced fraud was now almost five times more profitable than traditional methods, with AI systems able to autonomously plan and execute complete fraud campaigns. Vishala…
Oil tensions and global trade risks
Global energy markets remain jittery after a drone strike at the UAE’s Port of Fujairah forced a temporary halt in oil loading, raising concerns about the vulnerability of key Gulf export routes even as the Strait of Hormuz stays mostly closed. Meanwhile, the White House is seeking to assemble an…
Turmoil in the Strait of Hormuz sees oil price surge again
Brent crude, the international benchmark for crude oil, rose to settle at $103 a barrel, ending the day at the highest level in more than three years. That’s as the Strait of Hormuz remains effectively closed to most shipping, choking off one of the world’s most important energy routes. It…
US eases Russias oil sanctions
The US has loosened sanctions on other countries buying Russian oil we'll be talking about if those measures are enough to keep a lid on energy prices. And the smart toys struggling with toddlers emotions, why researchers are raising concerns on those. Presenter: Sarah Rogers Producer: Victoriya Holland Editor: Stephen…
Can a Temporary US Shipping Rule Ease Fuel Costs?
The US is considering temporarily waiving the Jones Act, a century-old law from 1920 that normally requires all goods shipped between US ports to travel on US-built, owned, and flagged vessels. The waiver would allow foreign ships to move fuel between domestic ports for 30 days to help curb rising…
Can a temporary US shipping rule ease fuel costs?
The US is considering temporarily waiving the Jones Act, a century-old law from 1920 that normally requires all goods shipped between US ports to travel on US-built, owned, and flagged vessels. The waiver would allow foreign ships to move fuel between domestic ports for 30 days to help curb rising…
Shipping workers all at sea
As the Strait of Hormuz remains shut what is being done to keep seafarers safe?
Could a $20 billion dollar insurance scheme get more Hormuz ships moving?
A $20 billion push is now on to get tankers moving through the Strait of Hormuz. Meanwhile, Middle East tourism suffers as flights are cancelled, and skies remain closed. And how tens of thousands of people are kidnapped for ransom each year. (Picture: An LPG gas tanker at anchor in…
'Largest ever' oil reserve release agreed by 32 countries
The International Energy Agency is proposing the release of emergency oil reserves to calm energy markets. Also, World Business Express finds out why diesel prices are rising faster than petrol/gasoline. And Leanna Byrne looks at February's US inflation data.
What is needed to steady volatile oil markets?
The International Energy Agency is meeting in Paris to discuss the release of strategic oil reserves in a bid to bolster supplies and calm energy markets as the US-Israel war with Iran ends the 11th day. Sam Fenwick hears from the former head of oil industry and markets at IEA,…
Energy price shock as US/Israel war on Iran continues
The world's biggest producer of crude oil, the Saudi firm Aramco, has warned of "catastrophic consequences" if the Straits of Hormuz is blocked for an extended period of time. But as war rages in the middle east, and attacks on shipping severely reduce the transportation of oil and gas, Saudi…
Oil prices ease as Trump says Iran war over “pretty quickly”
President Donald Trump’s announcement comes hours after G7 finance ministers said they were ready to use strategic oil reserves if necessary. Also, Anthropic sues the US government for calling it a risk. And we mark 250 years since the publication of Adam Smith’s iconic economics book, The Wealth of Nations…
Bangladesh rations fuel to private motorists
Bangladesh starts rationing fuel for private motorists. It's a result of the rapid rise in oil prices as a result of the US/Israel war on Iran. And Nepal has a elected a new government, six months after the previous administration was toppled by Gen Z protests. Leanna Byrne hears from…
Middle East crisis: Israel bombing Beirut
Israel bombards Beirut and Tehran and many people are being displaced. We hear from the restaurant owner keeping the ddors open for her customers despite the explosions. Also, Ed Butler finds out why hundreds of trafficked workers were released from scam centres in Cambodia, only to end up wandering the…
US allows Russian oil sales to tackle rising prices
The US treasury secretary, Scott Bessent, says he will grant India a 30-day waiver to buy sanctioned oil from Russia to help ease supply concerns in the global market. It comes as the Qatari energy minister warns that all energy producers in the Gulf region could shut down exports within…
The economic hardship rather Iran and its citizens
What do people in Iran think about the war? We hear from Iranians across the country who tell us how life is changed and how it stayed the same. Also, we look at the life of the foreign workers living in neighbouring countries. We've received the thoughts of two Indian…