World Business Report

Global oil prices have reached their highest level in more than ten months. Brent crude rose above ninety-five dollars a barrel on Tuesday. The increase is being driven by production cuts by two of the world's largest oil exporters, Saudi Arabia and Russia. The International Energy Agency has warned of a significant supply shortfall by the end of the year...

Union negotiators continued talks with representatives from General Motors, Ford and the Jeep-maker Stellantis today, as a historic strike by workers at America's top three car manufacturers entered the fourth day. The United Auto Workers union is seeking a 40% pay rise over a four year term, far more than the roughly 20% the companies have currently put on the table.

The car workers strike in the US enters day 4 today with the president of the United Auto Workers union, Shawn Fain preparing to meet again with bosses at General Motors, Ford and Stellantis. The workers want a 40% pay increase - the same rate their CEOs’ pay grew in recent years. The price of oil is reaching 95 dollars a barrel for the first time since November last year...

US President Joe Biden has sided with workers who have gone on strike in a pay dispute with three of America's biggest car-makers. In a meeting on Friday he said "workers deserve a fair share". We hear what the workers are accusing the plants about which are owned by General Motors (GM), Ford and Stellantis. Prices for Uranium have surged to their highest level for 12 years as countries try to protect stocks for nuclear power production...

More than 10-thousand employees at three of America's biggest car makers have gone on strike over pay and conditions. It's the first time that the United Autoworkers Union has simultaneously targeted all three of the main US car manufacturers - General Motors, Ford and Stellantis.

Nearly 150 thousand U.S. auto workers are set to go on strike this week if General Motors, Ford, and Stellantis fail to meet their demands for big pay raises. Workers want a 46% pay increase and the restoration of concessions workers made years ago when the companies were in financial trouble. The United Auto Workers union, has threatened to strike any of the three companies that haven’t reached an agreement by the time its contract with the union expires.

The European Central Bank has hiked interest rates by a quarter of a percentage point to 4% today. That's the highest level since the launch of the euro currency in 1999. Officials say interest rates need to go higher in order to tame inflation.

Driven by things like petrol prices, the consumer price index increased by 0.6% last month, the largest gain since June 2022. However underlying inflation was the smallest in nearly two years, so what could that mean for further interest rate rises by the Federal Reserve? Roger Hearing finds out how the price rises are affecting businesses and what driving up the price of petrol.

The European Commission has started an investigation to assess whether China is using unfair subsidies to boost the sale of its electric vehicles in Europe. Certain state subsidies are illegal under international trade rules.

The head of BP Bernard Looney has suddenly resigned following allegations over personal relationships with colleagues. We find out what this means for the company going forward. What happens when the NFL's Most Valuable Player gets injured right at the start of the season. Well it happened to the Jet's very own Aaron Rodgers we take a look at what this means for his club and the future of the games going forward. And Pickleball is the rage in America this summer...