World Business Report

Reopening the Strait of Hormuz, an important global waterway, is part of the ceasefire agreement, as announced by the US government, but late on Wednesday, Iran warned that ships crossing the waterway without permission would be “targeted and destroyed”.

Sam Fenwick will hear from Nils Haupt, the Head of Corporate Communications at Hapag-Lloyd, a German-based global shipping company.

Also, markets rallied, and oil prices fell, but only hours later there were concerns about how long it might last and if there was enough time to stabilise the global economy.

(Photo: Cargo ships in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s, March 11, 2026. Credit: Reuters/Stringer/File Photo/File Photo)

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

A countdown is underway as President Trump says 'a whole civilisation will die tonight' in Iran without a deal to fully re-open the Strait of Hormuz. Plus, we return to Cambodia's scam centres with a rare visit inside. And is Universal Music which is home to Taylor Swift, about to be sold?
(Picture: Iran's Permanent Representative to the United Nations Amir-Saeid Iravani speaking during a United Nations Security Council meeting in New York, USA, 07 April 2026. Credit:SARAH YENESEL/EPA/Shutterstock)

Over several days, Ukrainian drones have repeatedly struck oil export facilites in Primorsk and Ust-Luga in the Baltic Sea, and Novorossiysk in the Black Sea. Seaborne exports of Russian crude oil have been reduced as a result.
Troubled airline Air India is on the lookout for a new CEO after Campbell Wilson announces he's stepping down as chief executive.
And a US hedge fund has launched a takeover bid for the world's biggest music company, Universal Music Group.

United States President Donald Trump said the US will target civilian infrastructure if Iran doesn't open the Strait of Hormuz. He has given Iran a deadline of tomorrow to reopen the passage. But what happens if that deadline passes? And why are some vessels already allowed to pass through?
Meanwhile, new shipping routes are opening in the Arctic. We hear why the United States is investing in a new fleet of icebreakers.
Plus, a new Super Mario movie has become a box office success, despite early doubts.