In this episode of World Business, we track the global forces driving market volatility and consumer uncertainty. Oil prices spiked following reports that Israel may be preparing an airstrike on Iran’s nuclear facilities—raising fears of disruption to vital Gulf supply routes and triggering a 1.5% jump in Brent Crude. Analysts warn any escalation could reshape energy flows across the region. Meanwhile, UK inflation has come in hotter than expected.
The April reading hit 3.5%, up from 2.6% in March—casting doubt on the Bank of England’s path to interest rate cuts and sparking fresh concern over the cost-of-living crisis. And we turn to consumer activism with a timely interview: Sarah Brazier, Head of Campaigns at the Fairtrade Foundation, joins us on International Tea Day to unveil their new campaign focused on the tea industry.
From ethical sourcing to climate resilience, she explains how Fairtrade is adapting to meet the moment—and why UK shoppers still hold the power to drive global change. From geopolitics to grocery aisles, this is the business of fairness, stability, and survival. Tags: oil prices, Israel Iran tension, UK inflation, Bank of England, Fairtrade, Fairtrade tea, Sarah Brazier, ethical consumerism, Brent crude, cost of living, World Business, economic news, interest rate cuts, inflation UK, Middle East oil routes.
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Iran’s Foreign Minister Abbas Araghchi said Tehran has “no trust” in the United States and will only consider negotiations if Washington shows seriousness. His remarks came as talks on Iran’s nuclear programme continued, with Trump and Xi also opposing Iran acquiring nuclear weapons.
The U.S.-Israeli war with Iran loomed over U.S. President Donald Trump's visit to China, as signs emerged that the conflict is causing a shift in alliances across the Middle East.
Chinese President Xi Jinping and U.S. President Donald Trump are holding high-level talks in Beijing on Thursday, following a ceremonial welcome, with both leaders highlighting cooperation despite ongoing tensions.
British Prime Minister Keir Starmer was fighting for his political survival on Thursday (14 May) after Health Secretary Wes Streeting resigned, saying he had “lost confidence” in Starmer’s leadership.
The second semi-final of the 70th Eurovision Song Contest 2026 takes place tonight in a rain-soaked Vienna, with the final 10 places in Saturday’s grand final still up for grabs.
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Here are the latest stories from AnewZ’s Africa News programme, focusing on political and security developments across the African continent.
Here are the latest stories from AnewZ’s Africa News programme, focusing on political and security developments across the African continent.
The following story summaries are from AnewZ’s Africa News programme, focusing on political and security developments across Africa and beyond.
In today’s Prime Time, we covered the following conversations: Azerbaijan has shipped petroleum products to Armenia by rail for the first time in decades, marking a significant step toward economic cooperation and regional integration in the South Caucasus.
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