World Business Report

The US and Iran have come to a temporary ceasefire, but for many businesses and consumers, the pressure may be far from over.
Hundreds of ships are still backed up in the Strait of Hormuz, with many waiting for clearance from Iran before they can move.
Plus, what it means for flights, holidays and passenger confidence as airlines proceed cautiously.
Presenter: Leanna Byrne
Producer: Matt Lines
Editor: Justin Bones

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.