Trump gives Iran threatening deadline to reopen the Strait of Hormuz

This episode of World Business Report from the BBC World Service examines President Donald Trump's ultimatum to Iran: reopen the Strait of Hormuz by 8 PM the following day or face catastrophic consequences, including the potential destruction of Iran's power infrastructure. The episode unpacks the geopolitical tension, market reactions, and the fragile state of global shipping, as only a handful of vessels have been permitted through the strait amid ongoing blockades and threats. Former U.S. Ambassador Gina Abercrombie-Win Stanley and shipping expert Captain Martin Conrad provide insight into Iran's refusal to accept a ceasefire without a permanent end to hostilities and compensation, while also highlighting the emergence of alternative routes like the Omani southern corridor. Despite the high stakes, oil prices have stabilized, and markets appear to be betting on a last-minute resolution. The report also explores the broader implications, including the U.S. investment in a new fleet of icebreakers through partnerships with Finland, driven by Arctic shipping opportunities amid climate change. Meanwhile, the box office success of the Super Mario Galaxy movie underscores the enduring power of beloved franchises in entertainment, even amid critical skepticism.