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 Revolutionary Guards Navy said a Togo-flagged oil tanker was struck while attempting to make an “illegal passage” through the Strait of Hormuz, Iranian state media said early on Friday.
Russian air strikes injured 13 and damaged buildings in the Ukrainian capital of Kyiv and in the Black Sea port city of Odesa in the early hours of Thursday, officials said on the Telegram messaging app.
U.S. President Donald Trump said on Wednesday he hoped the war against Iran was nearing its end and that Tehran wanted to reach a deal, but Iran dismissed his comments as “mixed signals” as the conflict approaches its seventh month.
The European Union will disburse €3.3 billion ($3.8 billion) to Ukraine for missiles and drones, European Commission President Ursula von der Leyen said after a phone call with Ukrainian President Volodymyr Zelenskyy.
The U.S. State Department approved a $2.7 billion military sale to Ukraine for air-defence development upgrades, along with related equipment and services, the department said. Meanwhile, Ukrainian authorities reported at least 10 people had died in Russian attacks over the last 24 hours.
On 12 August, AnewZ’s Daybreak focused on the aftermath of Colombia’s devastating earthquake, tensions surrounding Iran and the Strait of Hormuz, growing Russia-North Korea military cooperation and security and environmental challenges across the Caspian and Black Sea regions.
On 11 August, AnewZ’s Daybreak examined U.S. President Donald Trump’s new demands for Iran, Russia-Iran cooperation and regional connectivity through the South Caucasus alongside key political, security and climate developments worldwide.
On 10 August, AnewZ’s Daybreak focused on developments in Gaza, Lebanon-Israel negotiations, Iran’s position on talks with Washington and the latest global security and climate-related challenges.
On 7 August, AnewZ's Daybreak focused on the Iran war, escalating violence in Yemen and a deadly migrant crisis in Spain's Ceuta enclave.
The 8 August commemorative edition of AnewZ's Context looked back on the year since the Washington breakthrough, examining how the initialling of the Azerbaijan-Armenia peace agreement and the launch of the Trump Route for International Peace and Prosperity have reshaped regional politics.
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