Frey Lindsay looks back on the stories shaping the world of money and work in 2025. It's been a year where tariffs have grabbed many of the headlines and we hear from our correspondents around the world on the impact they've had. We also hear about the biggest toy and collector craze of 2025 - the Labubu doll.

(Picture: U.S. President Donald Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, D.C., U.S., April 2, 2025. Credit: REUTERS/Carlos Barria)

Greenlandic and Danish foreign ministers are about to hold talks in Washington with US Vice President JD Vance and Secretary of State Marco Rubio. The meeting could shape investment, mining and military spending across the arctic. Plus, China has announced record export numbers and its biggest-ever trade surplus. We examine what this means. Also, Saks Fifth Avenue has applied for bankruptcy protection.

Airlines have grounded flights, one of the world’s busiest airports has shut, and oil prices are climbing after strikes in the Middle East. We hear from investors and analysts as they react in real-time to the US-Israel war with Iran. And we find out how the disruption is affecting air passengers and the wider travel industry.

Plus - we learn how the insurance market is responding to fast-moving events as it assesses coverage and war risk premiums.

Natural gas prices spike in Europe after Qatar closes its LNG base. Meanwhile the Strait of Hormuz closure sends crude oil higher and its importance in the shipment of fertiliser ingredients could have major effects on global crop production this year, the boss of Yara says

As global oil prices continue to climb, crude oil supplies from Iraq and Kuwait could stop shipping within days if travel through the Strait of Hormuz remains virtually halted. Plus, China cuts its economic growth forecast to the lowest level since 1991.

The US treasury secretary, Scott Bessent, says he will grant India a 30-day waiver to buy sanctioned oil from Russia to help ease supply concerns in the global market.

It comes as the Qatari energy minister warns that all energy producers in the Gulf region could shut down exports within weeks.

Plus - we hear from Nepal where votes are being counted in what’s being dubbed the young versus old election.

The Sri Lankan government has increased electricity prices for most households by more than 8% as fuel costs surge due to the Iran conflict.

Plus, Bisi Adebayo looks at the impact the war is having on jet fuel costs and how British and American food giants, Unilever and McCormick, have agreed a deal to combine parts of their food businesses.

The price of diesel has risen nearly 90% since the start of the war in Iran according to ICE. Why is that more than other fuels?

Plus Sarah Rogers hears why the price of subscriptions could rise after the World Trade Organsiation fails to reach a deal on ecommerce tariffs

and we look at the growth of fast fashion in India

The US and Iran have come to a temporary ceasefire, but for many businesses and consumers, the pressure may be far from over.

Hundreds of ships are still backed up in the Strait of Hormuz, with many waiting for clearance from Iran before they can move.

Plus, what it means for flights, holidays and passenger confidence as airlines proceed cautiously.

Presenter: Leanna Byrne Producer: Matt Lines Editor: Justin Bones

For the first time in seven years, India has bought its first cargo of Iranian oil. India hasn't purchased any Iranian oil since 2019 because of US sanctions, but those restrictions were waived last month. Leanna hears from the BBC's Archana Shukla.

Plus, its a big day for K-pop fans right across the globe as BTS, one of the world's biggest boy bands, have officially kicked off their new tour. Leanna Byrne hears from journalist Nemo Kim based in Seoul.

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.

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.

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.

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

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 Adebayo

Producers: Niamh McDermott and Barbara George

Long Island Rail Road workers walk out, leaving hundreds of thousands of commuters scrambling for alternatives and raising concerns about the wider economic impact of the disruption.

Elsewhere, rising fuel prices around the world have led to a nationwide strike by public transport operators in Kenya. While in India the rupee has hit a historic low, with oil prices are up and imports becoming more expensive.

Deadly protests in Kenya have forced the government to cut diesel prices after a sharp jump in fuel costs, driven by supply pressures from the Middle East conflict.

Roads into the Nairobi were blocked, tyres burned and public transport disrupted as anger grows over fuel hikes.

A nationwide transport strike has now been called off for a week as negotiations take place.

And what next for Elon Musk after his lawsuit against OpenAI fell flat?

Ryan Breslow let go of 30% of his workforce, plus his entire HR department. He defended this by saying they 'created problems that didn't exist.'

And, AI giant Nvidia is the first company to be worth $5 trillion, following their fiscal first-quarter earnings announcement. This comes after their CEO was in Beijing with President Trump last week where he said he'd like to sell more microchips to China.

Plus, Arsenal are champions of the 2025-26 Premiere League. How much more money will one of the richest football clubs in the world have to look forward to?

Hot on the heels of the US President, the Russian leader is the latest to meet with President Xi in Beijing, signing over 20 agreements on trade and technology.

The two leaders failed to come to an agreement on a long awaited Russian gas pipeline between the countries. China is Russia's top trading partner and also its biggest customer for oil and gas.

Elsewhere, we hear from Greenland where President Trump's envoy has turned up at one of the country's biggest business conferences.

Artificial intelligence companies including OpenAI, Anthropic and SpaceX are preparing for potential stock market listings in 2026, as investor interest in the sector pushes combined company valuations towards the trillion-dollar mark.

President Trump has also decided against signing a planned executive order on AI regulation today, a move being closely watched by technology companies and investors.

And Universal Music Group and Spotify have signed a new agreement around AI-generated music — including covers and remixes that imitate artists’ voices and styles — raising fresh questions about ownership, consent and how musicians should be compensated in the age of AI.

(Picture: REUTERS/Kent Nishimura)

Elon Musk's space X is going public, in what could be the biggest initial public offering in history. Leanna Byrne speaks to Dr Stephanie Hare about the significance of the IPO.

We also hear from Azadeh Moshiri in India about why the cockroach has unexpectedly become India's new political mascot.

The new chair of the world's most powerful central bank is being sworn in at the White House today.

Kevin Warsh becomes the 17th Chair of the Federal Reserve at a very tense moment for the US and global economies.

He's an advocate for cutting rates. something President Trump has long demanded.

Also, why were 2 boxes of Japanese Melons worth $36,500?

Pope Leo has warned that artificial intelligence poses potentially existential risks to humanity and should not be used to concentrate power in the hands of just a few people.

Oil prices have fallen sharply on hopes of a deal that could bring an end to the US-Israel war with Iran.

And the Italian luxury car giant Ferrari has launched its first ever ever fully electric vehicle called Luce, with a price tag of almost 600,000 dollars. So what does this mean for the electric car market?

The Finnish company behind the brand Oura, the maker of the health and wellness tracking ring has now filed to become a public company in the U.S. The company is valued at about $11 billion. And Pope Leo has raised his strong concerns on the development of Artificial Intelligence.

Oil giant BP has removed its chairman Albert Manifold with immediate effect over concerns including "bullying" and "overbearing" behaviour by him

Petrol and diesel prices in India continue to rise, reflecting a weak rupee, heavy taxes and lingering geopolitical risks.

And EU agricultural ministers met in Brussels today to come up with a long-term strategy to solve the rising cost of fuel and fertiliser facing farmers. But will this stop the ongoing protests?

Former F1 team manager Professor Andrew Graves gives us his take on Ferrari's electric gamble as they unveil their latest product, an electric vehicle they are calling the Luce. And we hear from an Indian fruit farmer as their mango crop is crushed by extreme weather.

With an uncrewed Blue Origin rocket exploding during a hot fire test at Cape Canaveral, Florida, we speak to former NASA engineer Sinead O’Sullivan about how much of a setback it is for Jeff Bezos business in the space race while Elon Musk's SpaceX firm's IPO gets ever closer.

Leanne Byrne finds out why the US travel industry is warning that plans being considered by Donald Trump's administration could cost the economy billions of dollars and disrupt one of America's busiest international gateways just weeks before the FIFA World Cup.

Elsewhere, we discuss why tech companies in Silicon Valley are hiring philosophers, and do Africa's wealthiest people have a responsibility to help tackle inequality?

Global business news, with live guests and contributions from Africa, Europe and the USA.

(Picture: Fire during an explosion of the uncrewed Blue Origin's New Glenn rocket during a test on a launchpad in Cape Canaveral, Florida, US, on 28 May 2026. Credit: NASASpaceflight.com / Reuters.)

The Shangri-la forum is Asia's largest annual defence conference. Politicians, military and industry figures are all in attendance.

AI giant Anthropic is valued at more than its rival Open AI.

And Jeff Bezos' Blue Origin rocket self-combusts spectacularly on the launch pad in Florida.

Outdoor apparel company, Patagonia, has sued a drag queen named Pattie Gonia for allegedly causing "irreparable" damage to its brand.

Mangoes have become a hot commodity following a steep increase in shipping prices due to the ongoing war in Iran. This follows reports of 90% losses to India's 'king of mangoes' crop after unusual weather.

The European Union has imposed a €200m fine on Chinese-owned online retailer Temu for having illegal products such as dangerous baby toys and faulty chargers for sale on its platform.

(Picture: Evan Benally Atwood/ Pattie Gonia)

The Russian rouble has surged to its strongest level in more than three years on the back of widening trade imbalances and high interest rates.

Cofffee prices have jumped around the world in recent years. What's the cause?

And a Google engineer has been charged with breaking insider trading law to make bets on a prediction market betting site.

DJ J Worra says she's been fooled by AI but believes the human touch will always supercede it. It comes after Spotify launch a new tool allowing fans to create covers and remixes of their favorite songs from participating artists and songwriters.

Oil prices have fallen more than 5% after Rubio says that US will give Iran talks 'every chance to succeed', with Iran reporting details of draft peace proposal.

Fifa has been ordered to explain World Cup ticket pricing after allegations of 'artificially inflating prices' and 'misleading fans' over the sale of tickets for the 2026 tournament.

(Picture: U.S. President Donald Trump and Secretary of State Marco Rubio attend a cabinet meeting in the Cabinet Room at the White House, in Washington, D.C., U.S., May 27, 2026. REUTERS/Evan Vucci)

Workers at Samsung Electronics in South Korea have voted for a massive pay deal. It will mean some workers – particularly those in the AI chip department – receiving a bonus of more than $400,000. Also in the programme, why it's going to be a very expensive Eid al-Adha this year for Muslims due to global inflation.

Presenter: Leanna Byrne

Producer: Barbara George

Big tech firms race to cash in on the AI boom. Anthropic, the firm behind chatbot Claude went public in the US, filing paperwork for a stock market listing later this year while Nvidia launched a new processor they say could reinvent the PC in the age of artificial intelligence.

In India, fertilizer supplies are under strain from shipping disruptions caused by the Middle East war. Our correspondent explains how this will affect farming and food prices in Asia's third largest economy.

And, a supermarket chain in Belfast has added a pub to one of their stores, but it's proven controversial because of Northern Ireland's strict licensing laws.

Plus Backrooms, a new horror film, created by a young YouTuber, earned over $80 million in its opening weekend. Could digital creators be the next generation of filmmakers?

Tech giant Nvidia says it will launch a new “superchip” for personal computers, marking a major new venture for the world’s most valuable company. Plus, Softbank eclipses Toyota to become Japan’s biggest company by market value, and we look at what a rise in fertiliser prices – triggered by war in the Middle East - means for farmers in India.

The head of manufacturers association in Switzerland weighs in on what's at stake from President Trump's latest policy on trade.

Also, what's gooing on behind the scenes at 60 Minutes, as a major network boss weilds the axe at the highest rating US current affairs programme.

And Michelle Obama says it's good for Gen Z workers to experience bad bosses and boring jobs.. but is she right?

The US proposes new duties of at least 10% on 60 countries in response to the Supreme Court’s decision to strike down Donald Trump’s earlier tariffs US trade representative Jamieson Greer argues that the 60 nations, which cover most of the world including the European Union and Canada, have not done enough to crack down on forced labour.

Plus, the OECD gives its latest assessment of the global economy. We tell you what it says.

And secret documents obtained by the BBC suggest oil giant Shell continued to operate a pipeline in Nigeria even though bosses knew it was causing widespread pollution.

Presenter: Leanna Byrne Producer: Gideon Long

President Trump signed an executive order to vet AI models before they are released. The hope is to prevent AI-enabled cyberattacks, but what will it mean for the investment boom?

Also, Spain has the second highest unemployment rate in Europe despite also being one of the fastest-growing economies. We find out why.

The UN has warned that this year's El Nino will be the worst in decades. This is expected to impact agriculture and food supply chains. We hear from a restaurant in the Philippines that relies on locally farmed produce on the preemptive measures they'll be taking ahead of any disruption to food supply chains.

And, NBA star Steph Curry ended his multi-billion dollar deal with Under Armour and signed a new one with Chinese sports brand Li-Ning. Will this new sponsorship be just as lucrative?

More than 30 years after the original movie, Tom Hanks and Tim Allen are back as Woody and Buzz in the fifth instalment of one of the most lucrative franchises in film history. Plus, with inflation rising above 3%, is a rate hike back on the table for the Eurozone? And, Nvidia doubles down on Taiwan despite the self-governed island's tensions with China.

Gideon Long dives into the latest US inflation figures after prices rose at their fastest pace in three years. We hear from American business owners on the front line of rising costs. We also turn to China, where inflation remains far lower than in the United States, and examine what the latest figures reveal about the strength of the world's second-largest economy. And with the FIFA World Cup approaching North America, how are businesses preparing for the economic opportunities the tournament could bring?

(Picture: Fuel prices are displayed outside a gas station in Washington, DC, USA, 22 May 2026.JIM LO SCALZO/EPA/Shutterstock)

The cost of goods in the United States is rising at its fastest pace in three years, with inflation driven mainly by soaring energy prices since the start of the war in Iran.

Economists say the energy shock is feeding through into broader price pressures across the world’s largest economy.

Meanwhile, Taiwan’s TSMC, a key player in the global AI boom and the centre of the US-China tech rivalry, has been speaking exclusively to the BBC about whether it can keep up with surging demand for advanced chips.

And with just a day to go, large numbers of World Cup 2026 tickets are appearing on resale platforms. Presenter: Leanna Byrne Producer: David Cann

The UK competition watchdog started the investigation into Paramount Skydance's $110bn takeover of Warner Bros Discovery. We ask the former CMA director how will it affect the deal?

Also, why is Switzerland going to restrict the number of the population in the country?

And we look into one of the most successful IPO - SpaceX.

Chinese President Xi Jinping has wrapped up a two-day visit to North Korea featuring military honours, public displays of friendship and talks with Kim Jong Un. While few concrete agreements emerged, the trip sends a clear signal that Beijing wants to strengthen its relationship with its isolated neighbour.

Plus, Indonesia's central bank has unexpectedly raised interest rates in an effort to stabilise the rupiah after its sharpest decline in years.

And the race to public markets is accelerating. Just days before SpaceX is expected to begin trading, OpenAI, the company behind ChatGPT, has confidentially filed for an initial public offering. We look at what could be one of the most significant listings in the technology sector for years.

Presenter: Leanna Byrne Producer: David Cann

A federal judge has overturned the $100,000 H 1B visa application fee ordered by President Donald Trump saying it's an unlawful tax.

IATA, the airline industry's main body says it likely to miss its key emission target.

And China's Xi Jinping is in North Korea. What's he after?

Global stock markets have fallen sharply after a sell-off in technology shares combined with growing uncertainty over tensions in the Middle East.

South Korea's Kospi index briefly suspended trading after plunging at the open, while Japan's Nikkei also suffered heavy losses.

Plus, Chinese President Xi Jinping is in North Korea for talks with Kim Jong Un. We look at what the visit could mean for trade and economic ties between the two neighbours.

Oil prices initially surged before easing back. We ask what that tells us about how investors are assessing the risk of a wider regional conflict.

And Prada has entered the space race. The Italian fashion house has helped develop part of a new spacesuit for future NASA missions.

Presenter: Leanna Byrne Producer: David Cann

US hospitality industry leads on new jobs growth, but is AI still impacting hiring for white-collar roles?

Moscow says the Russian economy is proving resilient in the face of international sanctions - we hear how the economy hits the local business from the Russian business owner in St Petersburg.

And the legacy of the co-founder of Netflix, Reed Hastings, who departs the streaming giant today after almost thirty years.

US jobs growth was way better than expected last month. The world’s biggest economy added twice as many jobs as economists had forecast: 172,000 versus predictions of around 88,000. Many of the new jobs were in the hospitality sector as pubs, bars and restaurants ramped up hiring ahead of the World Cup. The figures cover the lead up to the tournament, being jointly hosted by the US, Mexico and Canada.

Plus, nearly a year after the Air India crash in Ahmedabad, the families of victims in India say they’re being paid significantly less in compensation than their counterparts in the UK.

We hear from one of Vladimir Putin’s top advisers on the state of the Russian economy, and from a co-founder of the AI giant Anthropic, who says artificial intelligence needs to be reined in.

Presenter: Leanna Byrne Producer: Gideon Long

As Elon Musk's SpaceX seeks a valuation of nearly one-point-eight trillion dollars, which would make it the largest initial public sale in history, we find out what that could look like.

Elsewhere Armenia has today secured €50m in aid from European union to offset Russian trade restrictions, we find out the impact on business.

And as a Nepali man who went missing on Mount Everest is found alive... we'll explore the business of climbing the world's most iconic mountain which has just ended a record-breaking season of ascents.

El Niño has officially begun, according to scientists at the US National Oceanic and Atmospheric Administration. Will Bain examines what the climate phenomenon could mean for food prices, energy markets, economic growth and weather patterns around the world. We'll also look ahead to Friday's huge Initial Public Offering in shares in SpaceX. And the World Cup is under way. We hear from businesses and residents about the opportunities, disruptions and expectations as the tournament gets started.

(Picture:Indonesian farmers brace for possible dry spell linked to El Nino. Indonesia, June 4, 2026. REUTERS/Willy Kurniawan)

Wall Street is preparing for what could be the biggest IPO in history as SpaceX gets ready to begin trading on the public markets. We look at the final steps before launch, what investors can expect, and what the listing could mean for the wider technology and space sectors.

Also on the programme, the European Central Bank has raised interest rates for the first time in almost three years as policymakers respond to inflationary pressures across the eurozone.

Nearly a year after the crash of Air India Flight 171, investigators are expected to provide an update. But the inquiry has become increasingly controversial, with competing theories about what caused the disaster and growing scrutiny of the investigation itself.

And the World Cup kicks off in Mexico. We head to Atlanta, one of the tournament's host cities, to find out whether businesses and residents are ready for the economic opportunities and challenges that come with football's biggest event.

Presenter: Leanna Byrne Producer: David Cann

Elon Musk has become the world's first trillionaire after SpaceX shares soared following the company's stock market debut in New York. Andrew Peach examines what's driving the company's remarkable rise from its Starlink satellite business to the enduring appeal of the Musk brand.

Also on the programme, Switzerland is preparing to vote on proposals to limit population growth. But could restricting migration come at a cost to the country's economy?

And we'll assess the legacy of one of the art world's biggest names, as David Hockney dies aged 89, and ask what continues to make his work so sought after and valuable.

(Picture: A billboard of SpaceX is pictured on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite, in New York City, U.S., June 12, 2026. REUTERS/Jeenah Moon)