World Business Report

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.

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.

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?

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.

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.

The former Google CEO got heckled at a graduation ceremony at the University of Arizona. The editor-in-chief of their student paper The Daily Wildcat tells us why. We also discuss fuel price hikes in India as Prime Minister Narendra Modi concludes his European visit in Norway. And with data centres springing up all over the world, the communities living near them share how they cope with the disruptions they can bring. Plus, Kenya's government has cut diesel prices after people took to the streets to protest rising costs. An Uber driver and farmer tell us about the impact it's had on them.

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?

Tech journalist Kara Swisher describes Elon Musk and Sam Altman as 'toddlers' as their trial concludes. In a unanimous verdict, the jury agreed that Elon Musk's claims essentially expired after waiting too long to file his lawsuit. Plus we hear from a New York cabbie who expects a deal to be made as over 3,000 transport workers staged a strike following the breakdown in talks with the Metropolitan Transportation Authority.

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.

As the US president leaves Beijing for Washington, it's clear both parties are eager to improve their economic relationship. We reflect on the last two days with American and Chinese experts. Across the pond, it's been a dramatic week for British politics too as Prime Minster Keir Starmer faces calls to step down. How will this affect the UK's economy amidst instabilities already caused by the Middle East war? And a decision by car giant Stellantis to make more models in China highlights the West's increasing interest in their manufacturing. We hear from experts sitting shotgun in the drive to develop China's car industry.

Ahead of President Trump's and President Xi's China summit, there were hopes of deals agreed on both trade and tariffs. But has anything actually been achieved? Leanna Byrne finds out. And less than a month from the start of the World Cup, fans and hoteliers are getting nervous at the impact of escalating prices for tickets, transport and taxes. Can fans afford to make the journey? Also, we hear why the bond markets are nervous of political change in the UK.

The US president and his Chinese counterpart struck a positive tone at a banquet dinner in Beijing today. But what was actually achieved in a day of meetings between the two world leaders? Protests have broken out in Havana following ongoing power blackouts described as the worst in decades. Cuba's energy minister admits that they've run out of diesel and fuel oil because of the US-led blockade. And, with the men's World Cup less than a month away, hotels in the USA are seeing 80% less demand for bookings than expected. The cost of transport and tickets are some of the reasons cited. We hear insights from a hospitality industry insider and a fan who spent over $2,000 to be at the first match.

Presidents Trump and Xi meet in Beijing: What's at stake for both in terms of trade and tariffs? And Honda reports its first annual loss in 70 years. Has the Japanese car giant misjudged its electric vehicle strategy? Also, Cuba runs out of diesel and fuel oil as a US-led blockade of oil to the country squeezes supply.

US President Donald Trump is in China to meet with his counterpart Xi Jinping. They're expected to discuss their current tense trade relationship, the Middle East war, and negotiate an extension of their trade truce agreed in October that paused tariff escalation between the two nations. India has raised import tariffs on gold and silver purchased abroad to ease pressure on foreign exchange reserves after feeling the squeeze from rising energy prices. They're the world's second largest consumer for precious metals, and we hear how this is likely to affect global demand. Open AI CEO Sam Altman testified in court today in the ongoing case against Elon Musk, concluding the evidentiary portion of the trial. Closing arguments are due next. Our North America technology correspondent Lily Jamali gives us an update from California. And how has the aid sector affected Africa after Donald Trump closed the US Agency for International Development? Ed Butler reports from a maternity care project and speaks with experts across the continent.

Tariffs, tech competition, the Iran war and Taiwan top the agenda for the two superpowers. Trump, last visited in 2017. He returns to a stronger, more assertive China. Tens of thousands take to the streets of Buenos Aires to protest the economic policies of Argentina's President Javier Milei. And India hikes the tariff on imports of gold and silver from 6% to 15%.

Are higher prices in the US starting to show up in household bills as inflation moves closer to 4%? We’ll be looking at where that pressure is coming from, how long it might last, and what it means for businesses and consumers already feeling the squeeze. Also today, after an awkward intervention from President Macron, we get the mood from the tech-focused Africa Forward summit, where leaders and investors are debating the future of digital growth on the continent. And we hear why eBay has ruled out a deal to merge with GameStop, ending speculation over a possible takeover in the gaming retail space. (Picture: Allison Dinner/EPA/Shutterstock)

The blockade of the Strait of Hormuz have caused higher energy and grocery prices. The average US price for a gallon of unleaded is at its highest level since July 2022, at $4.50. A Japanese snack maker says it's been forced to print its packaging in black and white because of ink shortages caused by the crisis in the Persian Gulf. And it's the first day of the Cannes Film Festival in the south of France, one of the biggest events in the world of cinema.