Trump's Hormuz deadline looms

This episode of World Business Report from the BBC World Service examines the escalating crisis between the United States and Iran, centered on President Donald Trump's ultimatum demanding Iran reopen the Strait of Hormuz by midnight GMT or face further military action. The episode features on-the-ground reporting from Iran, where civilians describe the devastating impact of ongoing U.S. and Israeli strikes on schools, hospitals, and infrastructure, with many fearing for their livelihoods and lives. Experts Nagar Murtazavi and Dr. H.A. Helya analyze the situation, warning that Trump’s rhetoric—calling for the destruction of Iranian civilization—constitutes a dangerous escalation, potentially violating international law. Meanwhile, global allies including the UK, France, Germany, Canada, and others are holding urgent talks to ensure safe passage through the strait, though Canada’s role is limited to potential naval and cyber support contingent on a ceasefire. On the economic front, the IMF warns of global growth cuts due to the conflict, while financial markets remain volatile, reacting to headlines rather than fundamentals. The episode concludes with a segment on Universal Music Group, which has received a $64 billion takeover bid from Pershing Square, led by billionaire Bill Ackman, who seeks to unlock shareholder value through a New York listing and improved investor access without changing current management. The focus remains on financial revaluation rather than operational overhaul.