Hostility fears escalate in the Persian Gulf

With the US and Iran trading fire in the Strait of Hormuz, the ceasefire wobbling and oil prices continuing to rise, Sam Fenwick discusses the latest developments as the situation in the Persian Gulf continues to fray. We hear from Nikolas Tsakos, founder and CEO of one of the world's largest independent tanker operators, as well as trade union representative Sascha Meijer, on what this means for those stuck on tankers in the Middle East. Elsewhere we tell you why the price of oil you hear on the news may be misleading, and what it could mean for your fuel bills if the US-Iran conflict drags into next year. Plus, with fashion retailer GAP's co-founder Doris Fisher passing away, we speak to Catherine Shuttleworth on changing fashions of the high street. Global business news, with live guests and contributions from Asia, Europe and the USA. (Picture: US secretary of state Marco Rubio discussing the situation in the Strait of Hormuz within the James S. Brady Press Briefing Room at the White House in Washington DC, USA, on 5 May 2026. Credit: Kylie Cooper / Reuters)

The ceasefire between Iran and the US is looking increasingly fragile after another day of attacks in the Strait of Hormuz. As tensions rise, so are concerns about the welfare of the 20,000 seafarers believed to be stranded around the passage.In Brussels, European finance ministers have been meeting to discuss the economic impact of the war.And why is the Met Gala, fashion's biggest night under a controversial spotlight?Presenter: Bisi Adebayo Producers: Niamh Mc Dermott and Barbara George

Are ships moving in the Persian Gulf and could it lead to the resumption of hostilities between the US and Iran? Andrew Peach finds out more on the latest developments and speaks to maritime expert Captain John Konrad. Meanwhile, with two clubs celebrating joining the English Premier League, we hear about the financial challenges facing those joining football's elite. And, why the success of the vintage clothing industry is attracting criminals. Global business news, with live guests and contributions from Asia, Europe and the USA.(Picture: Vessels in the Strait of Hormuz near Bandar Abbas, Iran, on 4 May 2026. Credit: Amirhosein Khorgooi / ISNA / West Asia News Agency, via Reuters.)

Video game retail chain GameStop has made a surprise $56bn bid to take over the online marketplace eBay. GameStop’s CEO says he plans to create a competitor to Amazon.Also, the US military says it’s started guiding ships through the Strait of Hormuz as part of President Donald Trump’s “Project Freedom”.And steel boss Lakshmi Mittal and vaccine maker Adar Poonawalla have bought a majority stake in Indian Premier League cricket team the Rajasthan Royals for about $1.65bn Presenter: Bisi AdebayoProducers: Niamh McDermott and Barbara George

The US President Donald Trump has announced a new hike on cars and trucks imported from the European Union, accusing the EU of not adhering to their trade deal. In the meantime, Beijing has announced that fifty-three African states will be enjoying trade-free trade with China - all except one, the small land-locked state Eswatini, as it recognises Taiwan. And in France there is confusion over a new law allowing bakeries to stay open on the 1st of May. Picture: "U.S. President Donald Trump attends an event at The Villages Charter School at The Villages". Credit: Reuters

A third of the world's fertiliser is sourced from the Persian Gulf region. Farmers' are now predicted to produce smaller crops this year, affecting 10 billion meals a week. French car maker Renault says there's been a huge increase in interest in electric vehicles since the start of the war in the Middle East. And "slàinte mhath" or "cheers" in English! The USA is to cut import duties on scotch whisky, following the recent visit of King Charles II.

We hear how oil prices have been swinging sharply, with Brent crude briefly hitting 126 dollars a barrel as tensions in the Gulf raise concerns about supply and the wider global economy. Saudi Arabia is to stop funding the LIV Golf tour after spending billions to lure top players away from the PGA Tour. And in India, a surge in digital scams has cost victims around two and a half billion dollars, prompting the central bank to step in. (Image Credit: FILIP SINGER/EPA/Shutterstock (16852987h) A display shows fuel prices in euro at a petrol station in Berlin, Germany, 30 April 2026.)

The price of Brent crude hit a four year high on Thursday before falling back. Markets were reacting to comments from President Trump about maintaining Strait of Hormuz blockade.Gulf oil producers are running out of storage space for oil production, as exports remain restricted.And Saudi Arabia is pulling its funding of the LIV golf tour, after investing around six billion dollars since 2021.

Jerome Powell says he will continue to stay on as Federal Reserve Governor, even after his chairmanship ends. We look at what this means for the future of the US central banking system. Three ships have been hijacked off the coast of Somalia in the past week. We look into concerns of maritime piracy in the area, as experts warn reduced naval patrols could be creating an opening for armed groups. And we go to India where we hear how the glass industry has been suffering due to the war between the US, Israel, and Iran.(Image credit: Jerome Powell, during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, April 29, 2026. Photographer: Daniel Heuer / Bloomberg via Getty Images)

Oil prices have jumped despite the UAE exit from the OPEC groups of oil producing countries - we'll be looking at why. And more pressure is pilling on social media as a report finds Meta is in breach of EU law for failing to stop under 13 from using Facebook and Instagram. Presenter: Sarah Rogers Producer: Victoriya Holland Editor: Justin Bones