UN General Assembly: will diplomacy talks help the global oil market?

We're assessing where a busy day of diplomacy at the UN General Assembly has left the global oil market. Face-to-face talks have begun between the US and Iran. But President Trump also concedes that a peace deal is unlikely before November. Can the stretched global oil supply survive that long? Also with Ed Butley, why are Xboxes on the wane, and why do women screenwriters write better movies? (Picture: 81st United Nations General Assembly at UN headquarters in New York City. Credit:Reuters)

The prices companies are paying for shipping the fuel have risen 12 fold in the last few months.In that time Brent Crude oil has fallen below 100 dollars a barrel, relieving some pressure that the rising prices have put on inflation around the world.But there are concerns that the shortage in tankers could reverse those falls.Also, Volkswagen's top executive in China says the country's domestic car market is going to decline by 20 per cent this year, and the impact will be the same as the COVID pandemic.

Paramount Skydance has settled a lawsuit with dozens of US states, removing a major hurdle to its $110bn (£82.8bn) merger with Warner Bros Discovery. We hear from the Hollywood film editor.Also in the show, we are looking ahead to talks between Presidents Trump and Xi Jinping this week and we hear of more passenger chaos, this time in US airports.(Picture: Paramount water tower at Paramount Studios in Hollywood. Credit: Reuters)

Shares in Novo, the company behind Ozempic and Wegovy have fallen more than five per cent as the Danish pharmaceutical company sets out its future growth strategy. China and the US talk AI ahead of talks between the countries' leaders this week. And thousands protest in Barcelona against overtourism and plans to expand the city's airport. Presenter: Luke Wilson Producer: Barbara George

The situation is a result of reduced deliveries of crude oil via Saudi Arabia's East/West pipeline which was attacked by Houthi rebels from Yemen.Warren Buffett's son Howard replaces him as Chair of Berkshire Hathaway.And we why US College football is coming to Wembley Stadium in London.

Japan's central bank has raised interest rates to their highest level since 1995, we'll be finding out how one business is feeling and will more rate hikes be the new normal. The Australian government is considering a total ban on smart glasses in its offices and schools over security concerns. And Real Madrid's Kylian Mbappé has ended his partnership with Nike after two decades. Presenter: Guy Kilty Producer: Barbara George

Canada's PM Mark Carney is in Europe to discuss an EU-Canada Associate Member deal. President Trump suggests such a deal would be ‘hostile act’.Motorists in Nigeria express fury at the rising cost of petrol and diesel.And thousands of staff at a UK bank are demanding concessions after the company said it wants employees to work from the office more often.

The European Union has announced plans for a social media ban for young people at the same time that tech bosses have backed restrictions for similar age groups. Luke Wilson hears from a researcher of Digital Child Futures about what makes a successful ban.Plus, as Americans Todd Boehly and Mark Walter sell their stakes in Chelsea, where does this leave the football club?

The Federal Reserve has raised rates for the first time since 2023 the bank focuses on inflation fight. Chair Kevin Warsh defied Donald Trump’s calls for lower borrowing costs.2026 summer wheat exports from Russia and Ukraine will be 60% lower than pre-war average. Attacks on ports and shipping are to blame. Experts tell World Business Report that global wheat prices are likely to rise.One of Ed Sheeran's support acts has been dropped by his US concert promoter for his views on Palestine. World Business Report looks at the financial fall-out.

As businesses in the US prepare themselves for a potential interest rates hike, Luke Wilson hears from a dairy farmer about how it could impact his bottom line.Plus, as President of the European Commission Ursula von der Leyen backs a proposal for Canada to become an associate member of the EU we ask, just what could that relationship look like?