World Business Report

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)