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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Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
China is preparing to host the largest Shanghai Cooperation Organisation (SCO) summit in its history, with more than 20 heads of state set to gather in Tianjin from 31 August to 1 September.
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