World Business Report

Finance Minister François-Philippe Champagne announced ‘dollar-for-dollar’ counter-tariffs on a swath of U.S. goods — with a sliding scale of 15, 25 and 50 per cent.
Ed Butler speaks to an shipping expert and asks if anyone really knows how much oil and gas is currently being exported from the Middle East via the Strait of Hormuz.
And Volkswagen's Chief Executive has embarked on tour of German plants amid a plan for the auto giant to cut tens of thousands of jobs at home.

The US has announced a host of sanctions against Iran and threatened its supporters in what Treasury Secretary Scott Bessent said is "the single greatest financial offensive ever".
Trade relations between Canada and the United States have sunk to a new low after weeks of urgent talks fell apart over the weekend.
Meanwhile Ed Butler takes a look at the growing trade tensions between the European Union and China.

What could new sanctions mean for Iran's economy and its trading partners?
Meanwhile, President Trump announces plans for a 50% tariff on Canadian vehicles from 2027.
Also, Singapore announces a $55,000 incentive aimed at encouraging people to have more children.
And China showcases its growing humanoid robot industry.
Presenter: Bisi Adebayo
Producer: Niamh Mc Dermott

Long: Meteorologists warn a developing El Niño could be the strongest in living memory, with scientists saying next year could become the hottest on record. We look at what that could mean for businesses and global trade as low rainfall forces the Panama Canal to restrict shipping.
Also, Premier League clubs spend billions on new players despite new financial rules.
And how a low-budget animated film became an unlikely box-office hit in China.
(Photo: Panama Canal Authority limits daily ship traffic due to El Nino drought, Panama City - 20 Aug 2026. Credit: EPA/Shutterstock

A strong weather system which causes the globe to heat up is already having an impact on business with the Panama Canal reducing the number of ships which can pass through and certain food prices in India rising
Japan's inflation hits its highest level of the year
and the Golden Ball - why a football could sell for $10 million