Iran seizes cargo ships in Strait of Hormuz

US consumers are feeling less confident about their economy than at any other time. We hear from researchers and businesses about why war in the Middle East is making households fearful of the cost of living and rising energy prices. And, we hear from one of the bosses of electric vehicle giant BYD about how its performing amid the global shift away from fossil fuels. Also, how table-top board game Warhammer is riding the zeitgeist to win new fans.

The Bank of England expects stock markets around the world to fall as share prices are not reflecting the many risks facing the world economy, so says the Bank of England Deputy Governor and head of financial stability Sarah Breeden. It is unusual for a senior figure at the Bank to be so forthright on market movements. Breeden, who is also the Bank's head of financial stability, declined to say when she expected markets to fall or by how much, but pointed to a number of factors that markets seemed complacent about. The Chinese artificial intelligence company, DeepSeek, has released a preview version of its long-awaited new model, allowing users to test its capabilities and features. DeepSeek introduced its first open source model last year, causing turmoil in western tech markets because of its matching capabilities with American rivals and low cost. The firm says its V3 model achieves strong performance against others. And one of the world’s biggest car shows has been showcasing the very latest electric car technology. The timing of the Beijing show is pivotal - as the Iran war pushes up fuel prices, global demand for EVs is accelerating.Presenter: Leanna Byrne Senior producer: Craig Henderson

Shareholders of Warner Brothers Discovery have approved its sale to media conglomerate Paramount Skydance, with the merger valued at $110 billion. Rahul Tandon looks at what the deal could mean for competition, content and consumers.Also, BP suffers a shareholder rebellion over climate reporting.And Meta announces plans to cut around 10% of its workforce.(Picture: The studio lot at Warner Bros. Studios is seen in Los Angeles, California, USA, 23 April 2026. Credit: CHRIS TORRES/EPA/Shutterstock)

The shareholders of Warner Brothers Discovery have voted yes to an hundred billion dollar acquisition by Paramount. After fighting off Netflix to reach an agreement, the vote for Paramount became a formality....but then the next battle begins with the regulators.Tens of thousands of employees of Samsung have been protesting at a major factory in South Korea.And why China businesses are feeling the squeeze from the economic impact of the US-Israeli war with Iran.Presenter: Andrew Peach Senior Producer: Craig Henderson

Iran has seized two cargo ships and warned that reopening the Strait of Hormuz will be “impossible” if a US blockade continues. Sarah Rogers asks what that means for the US and hear from a business operating inside Iran.We also hear how businesses are expecting to benefit from a $100 billion EU loan to Ukraine.And Tesla reports higher than expected first-quarter profits.(Picture: Ships and boats in the Strait of Hormuz, Musandam, Oman, April 22, 2026. Credit: Reuters)

The European Union has unlocked a $100 billion loan for Kyiv - money that’s been stuck for months. Hungary had been holding it up, arguing it wasn’t receiving Russian oil through a key pipeline that runs across Ukraine. That line was damaged after a Russian strike earlier this year, but Kyiv says repairs are now complete and oil is flowing again.Plus, we get a rare insight into what it’s like trying to run a shop or even buy bread in Iran these days.And we look at the rise of quality Chinese retail brands, challenging the perception that “Made in China” means cheap and of poor quality.

Andrew Peach is joined by George Conboy as we look at Kevin Warsh’s grilling before the US Senate's banking committee and examine the prospects for the world’s largest economy, with expert analysis from economist Courtney Shupert. With US president Donald Trump extending the ceasefire with Iran, we speak to oil analyst Sarah Emerson about how American oil firms are benefiting from the disruption in the Middle East. And we travel to the Canary Islands to find out how tourism is increasingly turning to sport in the race for profit. The latest business and finance news from around the world, on the BBC. (Picture: Kevin Warsh, US president Donald Trump's nominee to be the next chair of the US Federal Reserve, at the end of a Senate Banking Committee confirmation hearing on Capitol Hill in Washington, D.C., 21 April 2026. Credit: Reuters / Kevin Lamarque)

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.