Fed raises US interest rates by 0.25%

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?

In recent weeks the US Treasury Secretary has tried to tame the bond markets. The cost of bonds affects how much you pay for borrowing such as mortgages and credit cards. But can Scott Bessent succeed where so many before him have failed?Also the luxury brand LVMH appears to be losing some of its shine. Why has the luxury giant lost its appeal and how much is the second-hand market to blame?Elsewhere the Ebola outbreak in the Democratic Republic of the Congo has killed more than 3,400 people, what does it take to develop a vaccine?(Photo Credit: EPA/Shutterstock)

As fuel prices rise across the world, Luke Wilson hears from an economist in Germany about the impact on the country's industry.Plus, how are costs to borrow money affecting mortgage rates?

Anthropic co-founder Jack Clark speaks to the BBC about the dangers of AI development and need for regulation, as the world's biggest AI bosses call for a pause in development, we find out does AI need a kill switch?Also, Africa’s biggest ever share sale has been launched, Aliko Dangote wants millions of Nigerians to own a piece of his oil refinery, to help his plans for expansion. And Russia’s wartime economy may still be growing, but are businesses and ordinary Russians beginning to feel the strain?PHOTO CREDIT: BBC NEWS YOUTUBE

As bosses of AI companies call for a 'slowdown' in the development of the technology, the BBC's Luke Wilson explores if it's even possible without China onboard. Plus, Africa's biggest ever public share has opened in Nigeria and how are oil prices reacting to the closure of a key pipeline in Saudi Arabia.