World Business Report

President Trump says the US Navy will escort tankers through the Strait of Hormuz "if necessary", after shipping traffic almost entirely halted through the key sea passage following Iranian threats to "set fire" to ships. We hear the latest on shipping in the region.
We also head to Lebanon as hostilities between Israel and the Iran-backed group Hezbollah continue to escalate. What does this mean for the future of the country?
And OpenAI says it’s rewriting parts of what it calls an “opportunistic and sloppy” deal with the US government over the use of its AI in classified military operations.
(PHOTO: Tankers are seen off the coast of the Fujairah, as Iran vows to close the Strait of Hormuz, amid the U.S.-Israel conflict with Iran, in Fujairah, United Arab Emirates, March 3, 2026. Credit: REUTERS/Amr Alfiky/File Photo).

Natural gas prices spike in Europe after Qatar closes its LNG base. Meanwhile the Strait of Hormuz closure sends crude oil higher and its importance in the shipment of fertiliser ingredients could have major effects on global crop production this year, the boss of Yara says

The conflict has caused the closure of shipping lanes, with up to a fifth of global energy and as much as a third of other commercial shipping impacted.
Thousands of flights have also been suspended, with airports as well as refineries the target of Iranian attacks.
We get reaction to the latest developments.
(Picture: A traveller looks at a departures board displaying a cancelled Qatar Airways flight for Doha, amid the U.S.-Israel war with Iran, at Terminal 8 at John F. Kennedy (JFK) International Airport in New York City, U.S., March 2, 2026. REUTERS/Bing Guan. Credit:).

Airlines have grounded flights, one of the world’s busiest airports has shut, and oil prices are climbing after strikes in the Middle East. We hear from investors and analysts as they react in real-time to the US-Israel war with Iran. And we find out how the disruption is affecting air passengers and the wider travel industry.
Plus - we learn how the insurance market is responding to fast-moving events as it assesses coverage and war risk premiums.

A plot twist in Hollywood has taken place in the last 24 hours, but in the spreadsheets rather than on the screens, as Netflix decides it's not willing to counter Paramount–Skydance's US$111bn bid for Warner Bros Discovery. We discuss what this means for the studio house that brought Bugs Bunny, the Looney Tunes, Harry Potter and the DC Universe to audiences worldwide.
Vishala Sri-Pathma hears how US President Donald Trump has directed every federal agency to immediately stop using technology from Anthropic, as the row between the White House and the AI developer continues.
Meanwhile, with the United States oil blockage of Cuba continuing for nearly a month, Will Grant reports on the economic and humanitarian crisis engulfing the Caribbean country.
And as Pokémon celebrates turning 30 with its first ever theme park in Japan - we find out how a kids’ craze become a cultural heavyweight.
Global business news, with live guests and contributions from Asia, Latin America and the USA.
(Picture: The Warner Bros. Studios water tower in Burbank, California, on 11 September 2025. Credit: Allison Dinner / EPA / Shutterstock.)