World Business Report

The Facebook and Instagram owner was accused by several US States of having addictive products that harm children.
Shares in US chip designer Nvidia rise in after hours trading after its 2 quarter results beat market expectations. It remains the world's most valuable company.
And we hear about the amazing business acumen of the country music star Dolly Parton who died yesterday.

Meta, the parent company of Facebook and Instagram, has agreed to an $18bn settlement with 29 US states over claims that its platforms harmed children.
The deal, which is subject to court approval, would require Meta to introduce new rules for teenage users, including daily limits and overnight blocks.
The collapse of what was once one of China’s biggest property developers is now threatening to become a multi-billion-dollar headache for PwC. A Hong Kong judge has ruled that Evergrande’s liquidators can pursue PwC’s global organisation, as well as its Chinese affiliates, over alleged audit failings. They’re seeking around $8.4bn in damages.
And Dolly Parton, one of country music’s biggest stars, has died aged 80. She sold more than 100 million records during a six-decade career, while building a business empire spanning music publishing, film, television and her Dollywood theme park.

Finance Minister François-Philippe Champagne announced ‘dollar-for-dollar’ counter-tariffs on a swath of U.S. goods — with a sliding scale of 15, 25 and 50 per cent.
Ed Butler speaks to an shipping expert and asks if anyone really knows how much oil and gas is currently being exported from the Middle East via the Strait of Hormuz.
And Volkswagen's Chief Executive has embarked on tour of German plants amid a plan for the auto giant to cut tens of thousands of jobs at home.

We take a look at what the latest US sanctions could mean for Iran's trading partners. Plus, India's taking "express" action to bring down soaring onion prices, and Lego has built record sales.
Presenter: Bisi Adebayo
Producer: Barbara George

The US has announced a host of sanctions against Iran and threatened its supporters in what Treasury Secretary Scott Bessent said is "the single greatest financial offensive ever".
Trade relations between Canada and the United States have sunk to a new low after weeks of urgent talks fell apart over the weekend.
Meanwhile Ed Butler takes a look at the growing trade tensions between the European Union and China.