World Business Report

Kevin Warsh - Donald Trump’s nominee for the post as chairman of the Federal Reserve, the US central bank - appears before senators in a bid to convince them he is the right man for the job. Some senators have threatened to block him unless a criminal probe into the current Fed chair Jay Powell is dropped.
Plus, the end of an era at Apple as Tim Cook steps down as CEO. We look at his replacement.
And the conflict in the Middle East puts a dampener on the German economy.

Andrew Peach hears from businesses reclaiming 'Liberation Day' tariffs in what promises to be the biggest repayment programme in history. Elsewhere, electric car sales have increased by 50% - in part due to the rise in fuel prices. And, we find out why nostalgia is still what it used to be in the world of advertising.
(Photo by FILIP SINGER/EPA/Shutterstock)

Global financial markets have headed south again after tensions between the US and Iran took a turn for the worse over the weekend. American forces attacked and then seized an Iranian cargo ship just east of the Strait of Hormuz, and Iran has responded by saying it will retaliate.
Plus, the BBC’s Nick Marsh has been looking at a story that’s been quietly building in financial markets. Traders placing big bets just before major announcements by US president Donald Trump, including during the Iran war. BBC analysis suggests it may be happening more often than we thought.

Iran has announced that the Strait of Hormuz is open, but the Secretary General of the International Maritime Organisation tells us he wouldn't advise ships to use it, yet.
Andrew Peach looks at how the impact of the ongoing conflict in the Middle East is continuing to affect oil and petrol prices.
Elsewhere the International Monetary Fund and the World Bank have resumed dealings with Venezuela, nearly two decades after its former president Hugo Chávez cut ties.
And we look at what's happening in the gaming industry where its stars are at the BAFTA Games Awards in London.
Global business news, with live guests and contributions from Asia, Latin America and the USA.
(Picture: A vessel at the Strait of Hormuz, off the coast of Oman’s Musandam province on the 12th of April, 2026. Credit: Reuters)

Iran's Foreign Minister says ships can again use the crucial Persian Gulf sea route while a ceasefire continues to hold. Markets have reacted sharply to the news. The price of Brent Crude fell 10 percent on the news.
Shares in oil companies have fallen, while shares in airlines and other heavy energy users have risen sharply. And we hear from Lebanon about how the country's economy is faring.