World Business Report

Both leaders toasted each other, agreed to an economic future together and little concrete has been announced.

We hear how the visit has been received in both China and the US.

Also, we hear from the boss of a shipping company on the challenges of navigating attacks and disruption, and also what it’s meant for his bottom line.

On today’s episode, we take a look at the stories shaping global business and markets. We discuss China’s state visit to the United States with Claire Reade, exploring the key issues and what the visit could mean for relations between the two countries.

Cary Leahey joins us to discuss what’s trending in the markets, from the latest moves to the themes investors are watching.

We also look at the UN’s conference on scams and the growing international focus on scam operations linked to Cambodia.

And could the growing popularity of high-protein diets be putting the food industry under pressure? We examine how changing consumer habits are affecting the businesses behind the trend.

Finally, we turn to Turkey, where the founder of an investment fund at the centre of an alleged eighteen-billion-dollar Ponzi scheme has been arrested. We speak to Piotr Zalewski, The Economist’s Turkey correspondent in Istanbul, about the allegations, the scale of the scandal and what it means for Turkey’s financial sector.

Xi Jinping has arrived at the White House to hold talks with Donald Trump, as the world's two biggest economies agree to extend their trade truce by two months

China's stock markets have had their worst trading day in a month, with investors frustrated at the news.

Elsewhere, Cambodia's Prime Minister has insisted the country will no longer be a haven for scam centres as a summit takes place there to tackle the issue.

It's estimated millions of workers around the world may have found themselves incarcerated, beaten or even electrocuted, before being forced to scam victims online.

China's Xi Jinping visits Washington for a meeting with President Donald Trump.

Also, how Cambodia is fighting financial scams.

And why McDonalds is betting big on chicken.

(Picture: U.S. President Trump Meets With China's President Xi At Zhongnanhai. Credit: Getty Images)

President Trump will welcome China's leader to the US capital ahead of talks ranging from tariffs to energy costs to the future of AI.

The trip is Xi's first state visit to the US in just under a decade and his third meeting with Trump since the US president began his second term in office.

Meanwhile, the head of the International Monetary Fund has warned that advanced economies need to reduce borrowing because of the spiralling cost of it.

Kristalina Georgieva said that global economic shocks had pushed up debt levels, but not enough had been done to contain the rising interest costs.

We're assessing where a busy day of diplomacy at the UN General Assembly has left the global oil market. Face-to-face talks have begun between the US and Iran. But President Trump also concedes that a peace deal is unlikely before November. Can the stretched global oil supply survive that long?

Also with Ed Butley, why are Xboxes on the wane, and why do women screenwriters write better movies?

(Picture: 81st United Nations General Assembly at UN headquarters in New York City. Credit:Reuters)

The prices companies are paying for shipping the fuel have risen 12 fold in the last few months.

In that time Brent Crude oil has fallen below 100 dollars a barrel, relieving some pressure that the rising prices have put on inflation around the world.

But there are concerns that the shortage in tankers could reverse those falls.

Also, Volkswagen's top executive in China says the country's domestic car market is going to decline by 20 per cent this year, and the impact will be the same as the COVID pandemic.

Paramount Skydance has settled a lawsuit with dozens of US states, removing a major hurdle to its $110bn (£82.8bn) merger with Warner Bros Discovery. We hear from the Hollywood film editor.

Also in the show, we are looking ahead to talks between Presidents Trump and Xi Jinping this week and we hear of more passenger chaos, this time in US airports.

(Picture: Paramount water tower at Paramount Studios in Hollywood. Credit: Reuters)

Shares in Novo, the company behind Ozempic and Wegovy have fallen more than five per cent as the Danish pharmaceutical company sets out its future growth strategy.

China and the US talk AI ahead of talks between the countries' leaders this week.

And thousands protest in Barcelona against overtourism and plans to expand the city's airport.

Presenter: Luke Wilson Producer: Barbara George

The situation is a result of reduced deliveries of crude oil via Saudi Arabia's East/West pipeline which was attacked by Houthi rebels from Yemen.

Warren Buffett's son Howard replaces him as Chair of Berkshire Hathaway.

And we why US College football is coming to Wembley Stadium in London.

Japan's central bank has raised interest rates to their highest level since 1995, we'll be finding out how one business is feeling and will more rate hikes be the new normal.

The Australian government is considering a total ban on smart glasses in its offices and schools over security concerns.

And Real Madrid's Kylian Mbappé has ended his partnership with Nike after two decades.

Presenter: Guy Kilty Producer: Barbara George

Canada's PM Mark Carney is in Europe to discuss an EU-Canada Associate Member deal. President Trump suggests such a deal would be ‘hostile act’.

Motorists in Nigeria express fury at the rising cost of petrol and diesel.

And thousands of staff at a UK bank are demanding concessions after the company said it wants employees to work from the office more often.

The European Union has announced plans for a social media ban for young people at the same time that tech bosses have backed restrictions for similar age groups. Luke Wilson hears from a researcher of Digital Child Futures about what makes a successful ban.

Plus, as Americans Todd Boehly and Mark Walter sell their stakes in Chelsea, where does this leave the football club?

The Federal Reserve has raised rates for the first time since 2023 the bank focuses on inflation fight. Chair Kevin Warsh defied Donald Trump’s calls for lower borrowing costs.

2026 summer wheat exports from Russia and Ukraine will be 60% lower than pre-war average. Attacks on ports and shipping are to blame. Experts tell World Business Report that global wheat prices are likely to rise.

One of Ed Sheeran's support acts has been dropped by his US concert promoter for his views on Palestine. World Business Report looks at the financial fall-out.

As businesses in the US prepare themselves for a potential interest rates hike, Luke Wilson hears from a dairy farmer about how it could impact his bottom line.

Plus, as President of the European Commission Ursula von der Leyen backs a proposal for Canada to become an associate member of the EU we ask, just what could that relationship look like?

In recent weeks the US Treasury Secretary has tried to tame the bond markets. The cost of bonds affects how much you pay for borrowing such as mortgages and credit cards. But can Scott Bessent succeed where so many before him have failed?

Also the luxury brand LVMH appears to be losing some of its shine. Why has the luxury giant lost its appeal and how much is the second-hand market to blame?

Elsewhere the Ebola outbreak in the Democratic Republic of the Congo has killed more than 3,400 people, what does it take to develop a vaccine?

(Photo Credit: EPA/Shutterstock)

As fuel prices rise across the world, Luke Wilson hears from an economist in Germany about the impact on the country's industry.

Plus, how are costs to borrow money affecting mortgage rates?

Anthropic co-founder Jack Clark speaks to the BBC about the dangers of AI development and need for regulation, as the world's biggest AI bosses call for a pause in development, we find out does AI need a kill switch?

Also, Africa’s biggest ever share sale has been launched, Aliko Dangote wants millions of Nigerians to own a piece of his oil refinery, to help his plans for expansion. And Russia’s wartime economy may still be growing, but are businesses and ordinary Russians beginning to feel the strain?

PHOTO CREDIT: BBC NEWS YOUTUBE

As bosses of AI companies call for a 'slowdown' in the development of the technology, the BBC's Luke Wilson explores if it's even possible without China onboard.

Plus, Africa's biggest ever public share has opened in Nigeria and how are oil prices reacting to the closure of a key pipeline in Saudi Arabia.

The Houthis now control the vital Red Sea waterway including the key shipping lane through the Bab al-Mandab Strait. We hear from maritime and security experts.    As oil prices hit an unprecedented six dollars per barrel in the U.S., we go to South Dakota and Massachusetts to speak to American business owners about the impact of higher prices and lower wages.    And on the twenty fifth anniversary of 9/11,  the Speaker of the New York City Council tells us about how her city fought back, but also about the environmental consequences of the attack.   (Image Credit: EPA/Shutterstock)

Prices in the US rose by 3.4% in the year to August, with the cost of living being pushed up by higher gasoline prices. We hear how one business is being impacted.

China sets targets to boost the percentage of EV's and autonomous vehicles on its roads.

And athletes compete for a share of 10 million dollars at the inaugural World Athletics Ultimate Championship in Budapest Hungary.

Presenter: Luke Wilson Producer: Barbara George

The visit to New Delhi is Xi Jinping’s first trip to India in seven years. But will this diplomatic overture lead to stronger business ties between the two countries? We go to our correspondent on the ground who tells us more. How much does the BRICS summit matter? A Brazilian economist tells us her view.

An expert on Yemen explains the latest shipping crisis in the region, after Houthi rebels take the city of Mocha on the Red Sea.

We go to New York to speak to a mathematician who says the field is in trouble — because of AI.

And the revelation that AI companies are buying rare books and destroying them has sent shockwaves through the books market — one rare book seller tells us why AI companies want the books and what it's doing to his business.

(Image Credit: Reuters)

The European Central Bank has raised its key interest rate to 2.5%, as it steps up efforts to bring inflation under control. Will be taking a look at the kind of impact this is having and will other central banks follow suit.

Oil as hit over a hundred dollars a barrel, with jet fuel costs in some parts of the world pushed even higher.

And the Chinese telecoms giant Huawei goes on trial in New York.

Presenter: Luke Wilson Producer: Barbara George

An Anthropic researcher's post on X that there is a 10% chance that AI "could kill all humans" has been viewed more than ten million times. It comes as Jacob Coxon resigns from the company warning that the two top companies are not "acting responsibly." But others say the warnings are overblown. We hear from experts and the public.

We go to the U.S. where Apple is launching a new product, the first foldable iPhone — the first such launch with new CEO John Ternus.

And a food safety crackdown in Mumbai, India's financial capital, has gone viral — with thousands of restaurant raids, and photos of filthy kitchens shared widely online.

(Photo: REUTERS/Manuel Orbegozo )

Oil prices rise above $100 a barrel for first time since July as tensions escalate in the Middle East, we'll be finding out what this means for consumers this winter.

Some of Europe's biggest airlines call for firings over air traffic control outages in the UK as hundreds of flights are cancelled in the UK's busiest airport.

And Apple gets set to unveil its latest products with a new boss at the helm.

Presenter: Luke Wilson Producer: Barbara George

The UK has announced new measures targeting Israeli settlements in the occupied West Bank, including a ban on trade with settlement businesses. The move follows a joint declaration supported by 12 countries, amid concerns over the expansion of settlements. Israel has responded by announcing the closure of the British consulate in East Jerusalem and imposing entry bans on a number of British officials.

Canada is hitting back at the latest US tariffs, imposing duties on around $20 billion of American imports in a dollar-for-dollar response.

And thieves have stolen two paintings worth millions from a museum dedicated to impressionist painter Pierre-Auguste Renoir.

(Photo: Jamal Awad / Reuters)

Canadian retaliatory tariffs on a range of US goods worth around £20bn dollars have come into effect. We'll hear from a dairy farmer in Ohio about the impact of this.

The boss of Dubai Airport says it's bouncing back, even while war in the Middle East continues.

And Singapore's Prime Minister gets a 1 million dollar pay rise.

Presenter: Luke Wilson Producer: Barbara George

Europe's carmakers are facing challenges from every direction. With Jaguar Land Rover announcing 4,000 job cuts worldwide and Volkswagen's plans to cut 50,000 jobs, we look at why some of the industry's biggest names are feeling the strain. And how much of this is being driven by the changing market in China?

The boss of the biggest UK headquartered tech firm, chip design company Arm Holdings, has said that AI will find a cure for cancer that humans can not in our lifetimes; he also thinks that AI will lead to the widespread manufacture of humanoid robots in the next five years.

And we look at why the European Union is betting big on Greenland.

(Image Credit: EPA/Shutterstock)

A victory for the far-right in Germany the AfD fuels calls for faster growth in Europe's biggest economy as businesses call for an economic reform.

Meanwhile China pumps tens of billions of dollars into its banks to try and boost growth.

And Jaguar Land Rover becomes the latest carmaker to cut thousands of jobs

Presenter: Luke Wilson Producer: Barbara George

It is birthday celebrations for Aardman Animations. The award-winning British studio behind Wallace and Gromit and Shaun the Sheep celebrates 50 years since it was founded in the UK.

And we head over to the US as their latest figures shows they added more jobs than expected but wages are still falling behind inflation. While in Canada, job losses are hitting their retail and finance sectors. We hear from businesses across the two countries about the challenges they are facing.

(Photo: Aardman characters Wallace and Gromit. Credit: PA)

Presenter: Andrew Peach Producer: Barbara George Editor: Stephen Ryan

The board of German car giant Volkswagen has approved a plan to cut another 50,000 jobs as part of the biggest restructuring in the group's history.

It brings the total number of roles the carmaker - which includes Audi, Porsche, Skoda as well as the VW brand - plans to shed by 2030 to 100,000, after announcing in March that it would cut 50,000 roles.

Kenya's President William Ruto has told one of India’s major chemical companies, Tata Chemicals, to “pack up and leave”. The president says the company has not delivered enough benefits for Kenya, accusing it of exporting soda ash rather than processing more of the mineral locally.

And British studio Aardman Animations, creator of Wallace and Gromit, Shaun the Sheep and many other well-loved characters, is celebrating 50 years since it was founded in Bristol by childhood friends Peter Lord and David Sproxton. Since then, its films have brought in more than $1.1 billion at the global box office and won four Academy Awards.

Presenter: Bisi Adebayo Producers: Huma Shah & Guy Kilty

The LA Clippers have been fined $30 million by the National Basketball Association after an investigation revealed that the club had circumvented salary rules to channel funds to their star player Kawhi Leonard. The fine is the largest in the league’s history - the Clippers said they will appeal against the decision. Also, as the Dutch central bank moves more than 78 tonnes of gold from New York to London, presenter Bisi Adebayo looks at why countries store gold abroad in the first place. And - robotaxis have hit the streets of London for the first time, as Uber launches 15 self-driving cars. So why is there a human still in the driving seat? We find out.

Presenter: Bisi Adebayo Senior producer: Craig Henderson Producer: Huma Shah

The "supersized" El Niño weather system is hitting the global economy, with cocoa farmers in Ecuador already seeing prices for their products fall.

As the Panama Canal operator limits the number of vessels passing through the waterway, we ask what further trade shocks are to come.

And US basketball team the Los Angeles Clippers has been hit with a record $30 million fine by the National Basketball Association for violating salary rules. What will it mean for the team and for the game?

Photo: Reuters/Enea Lebrun

US oil giant Chevron says it will expand operations in Venezuela, with plans to invest more than $7 million to double its output there over the next five years.

As Uber leaves the Nigerian market, we'll look at what that means for drivers and passengers who depend on the platform every day.

Plus, the Venice Film Festival has rolled out the red carpet. So why does it feel a little less glamorous this year?

Photo: EPA/Shutterstock

A controversial oil deal gives the United States control of more than a fifth of Venezuela’s reserves. Plus, could Kenya be running short of milk? And thousands of US sailors deployed to the Strait of Hormuz reach dry land, after a record stretch at sea. Presenter: Bisi Adebayo Producers: Victoriya Holland and Huma Shah Editor: Naomi Rainey

Escalating conflict in the Gulf is pushing oil prices ever higher. We explore the connection between energy prices and government borrowing to find out why falling bond prices across the world matter to jobs and inflation. The appearance of Russia's finance minister at the G20 talks in North Carolina caused some awkwardness among his European counterparts. Beyond the embarrassing family photo shoot, we try to find out what Russia hoped to gain from the summit. And after almost 20 years without turning a profit, Victoria Beckham's fashion and beauty business has finally turned a profit. What's changed?

(Picture: A passerby walks past a screen showing the yield on the 10-year Japanese government bond in Tokyo, Japan, 31 August 2026. Credit: Franck Robichon,EPA/Shutterstock)

Shein finally makes its stock market debut in Hong Kong, after failed attempts to list in New York and London. And the company is now valued at around a quarter of its 2022 peak. We look at whether it really is third time lucky for the fast-fashion giant. China tightens the rules for its carmakers, warning against aggressive price cuts as brands such as BYD look overseas for growth. We hear from former Nissan and Aston Martin executive Andy Palmer. Presenter: Bisi Adebayo Producer: Amber Mehmood

In the 15 years since he's been charge at Apple, Tim Cook has turned the consumer tech company into a multi-trillion dollar success. What does new CEO John Ternus need to do to keep Apple on top? Also, what's on the minds of those running the world's biggest economies? We take the temperature at the G20 summit in North Carolina. And as Sony Music Publishing and Warner Chappell become the latest industry names to take legal action against an AI giant, we speak to someone at the heart of the debate: a real-life musician. Photo: REUTERS/David Swanson

The US and Iran exchange fire for the first time in a month, as an oil tanker reportedly hits mines in the Strait of Hormuz. We look at what the renewed fighting could mean for oil supplies, shipping and the global economy. Also, China and Russia hold talks as world leaders gather for the Shanghai Cooperation Organisation summit. And after 15 years at the top, Tim Cook prepares to step down as CEO of Apple.

Producer: Bisi Adebayo Presenter:Luke Wilson

The head of the US Federal Reserve, Kevin Warsh, says policymakers "have work to do" if they are not confident cost-of-living pressures are easing for Americans.

Policy makers from 10 nations neighbouring the Baltic Sea have been meeting today to discuss hybrid attacks on their countries. Earlier this month Leipzig Airport in Germany was shut after drones targeted planes.

And a group of more than 80 performers have written to the British Prime Minister urging his government to take action over companies using Artificial Intelligence to clone their voices.

In his first speech at Jackson Hole as Federal Reserve Chair, Kevin Warsh said that while inflation data had been better than expected over the summer, it did not suggest the outlook had "meaningfully improved". However, he stressed that his remarks should not be seen as a guide to future interest rate decisions. And more than 80 British actors and voice artists are calling for stronger legal protections against AI-generated copies of their voices. Presenter: Bisi Adebayo Producer: Amber Mehmood

They warn cyber-attacks which use AI will become both more widespread and more sophisticated in a matter of months as the technology rapidly improves.

UEFA is preparing criminal legal action against the President of FIFA, Gianni Infantino.

And a barrel of single malt scotch whisky bought in 1971 for $175 has been valued by auctioneers at $370,000.

More oil is making its way through the Strait of Hormuz, despite the continuing war with Iran, with Kuwait and Qatar among the Gulf producers finding new ways to keep supplies moving.

Could tighter restrictions on Facebook and Instagram actually make children safer online? A former Meta engineering director and whistleblower says changes agreed in a multibillion-dollar US settlement won't go far enough.

And Forbes Russia has named Wildberries founder Tatyana Kim the country's wealthiest woman, despite Ukrainian attacks on the company's warehouses.

New import taxes have been placed on more than 60 trading partners of the United States. Businesses in Australia and Norway give us their reaction

Tech stocks continue to struggle

and should AI have a 'kill-switch'

Presenter: Barbara George Editor: Justin Bones

The price of oil has gone back above $100 a barrel which could mean higher prices at the pump. It's after attacks on at least one tanker in the Red Sea by Iranian-backed Houthis

Plus a shortage of eggs in Myanmar has led to prices soaring

and the footballers rewarded for winning the world cup in Tomatoes

Presenter: Gideon Long Senior Producer: Naomi Rainey Editor: Justin Bones

New 25% US tariffs on selected Brazilian imports are raising trade tensions. What impact could they have on Brazil's economy?

Also in the programme Malaysia's ambition to become Southeast Asia's next data centre powerhouse.

And why a campaign encouraging Japanese office workers to wear shorts is causing controversy.

Presenter: Gideon Long Producer: Barbara George Editor: Naomi Rainey.