World Business Report

A countdown is underway as President Trump says 'a whole civilisation will die tonight' in Iran without a deal to fully re-open the Strait of Hormuz. Plus, we return to Cambodia's scam centres with a rare visit inside. And is Universal Music which is home to Taylor Swift, about to be sold?
(Picture: Iran's Permanent Representative to the United Nations Amir-Saeid Iravani speaking during a United Nations Security Council meeting in New York, USA, 07 April 2026. Credit:SARAH YENESEL/EPA/Shutterstock)

Over several days, Ukrainian drones have repeatedly struck oil export facilites in Primorsk and Ust-Luga in the Baltic Sea, and Novorossiysk in the Black Sea. Seaborne exports of Russian crude oil have been reduced as a result.
Troubled airline Air India is on the lookout for a new CEO after Campbell Wilson announces he's stepping down as chief executive.
And a US hedge fund has launched a takeover bid for the world's biggest music company, Universal Music Group.

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 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.

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.