The Business

The attack on Iran and its consequences have sent shockwaves around the global economy, hitting stock markets, airlines and energy supplies. UK gas prices have nearly doubled and the flow of a fifth of the world’s crude oil supply - which travels through the Strait of Hormuz in tankers - has largely ground to a halt.As the ripple effect is felt across the world, how harsh will the economic fallout be, will inflation - only just under control - rise? And, with gas and oil stores in Europe limited, might there be a major energy shock ahead?Presenters:Dominic O’Connell, columnist and business presenter, Times RadioHannah Prevett, associate business editor at The Sunday Times Guest:Richard Fletcher, business editor, The Times Dr Amrita Sen, Founder and Director of Market Intelligence at Energy AspectsRead more: Markets complacent over surge in oil price, warns analystProducer: Miriam HallSenior Producer: Julia JohnsonExecutive Producer: Kate FordPhoto credit: GettyGet in touch: thebusiness@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

This episode of The Business is sponsored by PwC. It was recorded before the recent attacks on Iran by the US and Israel.At Davos this year, Canadian Prime Minister Mark Carney spoke of “a rupture in the world order”. And ahead of the Munich Security Conference, Marco Rubio, United States Secretary of State described “a new era of geopolitics”.   What does that new era look like for business? What are the tensions, the traps and the opportunities to look out for? In this episode of The Business, Marco Amitrano, Senior Partner PwC UK and Middle East and Lord Gavin Barwell, former Chief of Staff to Prime Minister Theresa May, discuss business resilience in an unstable world. Guests Marco Amitrano, Senior Partner PwC UK and Middle East Lord Gavin Barwell, former Chief of Staff to Prime Minister Theresa May Hosts:Hannah Prevett, Associate Business Editor, The Sunday TimesDominic O’Connell, columnist, The Times & business reporter, Times Radio Hosted on Acast. See acast.com/privacy for more information.

Quantum computing has been described as “the next big thing “ - a tech revolution to rival AI that could have implications across sectors as diverse as finance, chemicals, life sciences and manufacturing. This cutting-edge tech - which uses quantum physics to solve problems much faster than today’s regular computers - is already being used by HSBC. The bank has trialled IBM’s quantum technology in trading. Over the past few decades the government has been investing heavily in quantum, and many start-ups have spun out of UK universities. We speak to one UK company that is scaling up, Quantum Motion, to ask - how long it will be before this tech sees a breakthrough on the scale of AI? What is the commercial potential and, as some have suggested, will it break the blockchain? Presenters:Katie Prescott, technology business editor, The Times and host of the Tech PodcastDominic O’Connell, columnist and business presenter, Times RadioGuest: James Palles-Dimmock, Chief Executive, Quantum MotionProducer: Miriam HallSenior Producer: Julia JohnsonExecutive Producer: Kate FordPhoto credit: GettyGet in touch: thebusiness@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

Making money out of airlines is tough. Warren Buffett once said if he had a time machine he would go back and shoot the Wright Brothers. Luis Gallego made his mark turning around the Spanish airline Iberia and in 2020 he got the top job at International Airlines Group, parent company of Aer Lingus, Iberia, Vueling and British Airways.  So how do you run an airline, how did covid supercharge our love of travel and how can Luis navigate the possible development of a third runway at Heathrow - Britain’s biggest airport.Presenters:Dominic O’Connell, columnist and business presenter, Times RadioHannah Prevett, associate business editor at The Sunday Times Guest:Luis Gallego, CEO of International Airlines GroupProducer: Miriam HallSenior Producer: Julia JohnsonExecutive Producer: Kate FordPhoto credit: GettyGet in touch: thebusiness@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

The numbers behind YouTube juggernaut The Sidemen - the seven-strong collective often referred to as the UK’s answer to MrBeast - are nothing short of staggering. What began as a group of friends playing Grand Theft Auto as a hobby and uploading it online is now a nine-figure empire spanning multiple channels, merchandise, a fried chicken chain, a vodka brand and a netflix reality show. The official YouTube channel has more than 22 million subscribers. So, what has driven their stratospheric growth? Jordan Schwarzenberger, CEO of management and venture company Arcade, has managed the group for the last five years and joins the Business to talk over the strategy behind its online presence - and what businesses and individuals can learn from their success. He walks through his career trajectory, the booming creator industry, and why content remains so overlooked in company and career development. Presenters:Dominic O’Connell, columnist and business presenter, Times RadioHannah Prevett, associate business editor at The Sunday Times Guest:Jordan Schwarzenberger, co-founder of Arcade MediaProducer: Miriam HallSenior Producer: Julia JohnsonExecutive Producer: Kate FordPhoto credit: GettyGet in touch: thebusiness@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

Octopus Energy has gone from market entrant to market leader in just 10 years. Greg Jackson, chief executive and co-founder is at the forefront of this business success story. The secret sauce? It’s nothing to do with energy - it’s the Kraken software that links the company to its customers and suppliers. So how did he do it? Why does he think 'spaghetti stacks' of ancient software are what’s holding so many businesses back? And what plans does he have to float Kraken? From memories of his failed career as a game designer, why corporate life can be addictive - and why he thinks business leaders should be optimistic in a challenging world, Dom and Katie hear his lessons from the frontline.Presenters:Dominic O’Connell, columnist and business presenter, Times RadioKatie Prescott, Technology Business Editor, The Times and host of the Times Tech PodcastGuest:Greg Jackson, CEO and co-founder, Octopus EnergyProducer: Miriam HallSenior Producer: Julia JohnsonExecutive Producer: Kate FordPhoto credit: GettyGet in touch: thebusiness@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

By 2030, there will be five generations in the workplace and the majority will be Gen Z. The first post-internet generation, some characterise them as entitled, anxious and difficult to manage. But they’ve also contended with a pandemic during their school and early career years, major financial insecurity and intense geopolitical concerns. So what makes them tick as workers? How can managers best motivate - and retain - their ambitious, outspoken Gen Z staff? And what does that future workplace look like when flexibility is the norm and AI is undertaking many of the tasks once done by juniors?Presenters:Modupe Omitola, journalist at The Times. Dominic O’Connell, columnist and business presenter, Times RadioGuests:Ann Francke, Chief Executive, Chartered Management Institute and Times contributorMurvah Iqbal, Co-Founder and Co-CEO, Hived Producer: Miriam HallSenior Producer: Julia JohnsonExecutive Producer: Kate FordPhoto credit: GettyGet in touch: thebusiness@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

US President Donald Trump’s much-anticipated appearance at the World Economic Forum at Davos certainly did not disappoint. After threatening to take Greenland into US control - and slap punitive tariffs on NATO allies that stood in his way - he promptly backed down late Wednesday. While the immediate reaction at the Swiss resort was one of relief, it has left world leaders and the global business community with a serious case of whiplash. In this episode, we consider how the world according to Trump is impacting investors, global markets and economies around the world. Just how damaging could those tariffs have been to the UK and EU? Why are Trump's attacks on the Chair of the Federal Reserve so consequential for the global economy?  And what’s the knock-on effect of Trumponomics on British business?Presenters:Hannah Prevett, Associate Business Editor, The Sunday TimesJosh Glancy, Associate Editor, The Sunday Times Guests:Yael Selfin, Vice Chair and Chief Economist, KPMG UK Jack Barnett, Economics Correspondent, The TimesRichard Fletcher, Business Editor, The TimesProducer: Miriam HallSenior Producer: Julia JohnsonExecutive Producer: Kate FordPhoto credit: GettyGet in touch: thebusiness@thetimes.comClips: CBS Texas, Channel 4, BBC, CNBC, NBC news  Hosted on Acast. See acast.com/privacy for more information.

“I blame it on my kids” - that’s how Louise Hill, founder of multi-million pound business GoHenry - a financial app for kids - describes what motivated her to start her business. And Olivia Jenkins, founder of jewellery company D. Louise, put down the ‘giant backpack’ of grief weighing her down to set up on her own. If you’ve ever thought of starting your own business, maybe January - and the beginning of a new year - is the perfect time to break free of the 9-5 drudgery and realise your own brilliant idea. But where to start? How do you turn your passion project into a thriving business? Today, we hear from Louise and Olivia - as they join Dom and Hannah to give their advice on how to make it all work. Presenters:Hannah Prevett, Associate Business Editor, The Sunday TimesDominic O’Connell, columnist and business presenter, Times RadioGuests:Louise Hill, Co-founder and CEO, GoHenryOlivia Jenkins, Founder and CEO, D. LouiseProducer: Miriam HallSenior Producer: Julia JohnsonExecutive Producer: Kate FordPhoto credit: GettyGet in touch: thebusiness@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

The economy is sluggish, growth elusive, and unemployment is heading for 5% - 2026 looks tough for business. But, the FTSE 100 has broken 10,000 points for the first time, gold keeps on going up, and up in value - and still the AI bubble hasn’t burst. From Davos parties, to driverless cars, what's up, what’s down? And how do you prepare yourself for 2026?Presenters:Hannah Prevett, Associate Business Editor, The Sunday TimesDominic O’Connell, columnist and business presenter, Times RadioGuests:Richard Fletcher, Business Editor, The TimesKatie Prescott, Technology Business Editor, The TimesProducer: Miriam HallSenior Producer: Julia JohnsonExecutive Producer: Kate FordPhoto credit: GettyGet in touch: thebusiness@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

British tech billionaire Mike Lynch died in August 2024, on board The Bayesian, his luxury superyacht, sunk by a freak storm as it was moored off Sicily. He’d been there with his family and closest associates to celebrate his acquittal of criminal fraud charges in the US. It was a tragic end to the story of a self-made business man - a man who was one of Britain’s biggest titans of tech. So, who exactly was Mike Lynch? How did he manage to build such a huge tech success story? And how did it all come crashing down?As we end the year, Dom and Hannah have each picked their ‘business book of 2025’. In today’s episode Hannah sits down with Katie Prescott, Times colleague and author of The Curious Case of Mike Lynch.Host: Hannah Prevett, Associate Business Editor, The Sunday Times.Guest: Katie Prescott, Technology Business editor for The Times, presenter on The Tech Podcast and author of ‘the curious case of Mike Lynch’Clips: GettyPhoto: GettyProducer: Miriam HallExecutive producer: Kate FordGet in touch: thebusiness@thetimes.comYou can buy The Curious Case of Mike Lynch by Katie Prescott at the Times Bookshop.Listen to The Times Tech Podcast Hosted on Acast. See acast.com/privacy for more information.

In space, a battle between big business is taking place as two of the world’s wealthiest men vie for dominance. Elon Musk’s Space X and Jeff Bezos’s Blue Origin have taken the space industry in the US out of the hands of government and into the hands of the private sector. But what are the consequences? Who will win the commercial race to extract crucial minerals from outer space? And who will police space if the rivalry between China and the US extends into orbit?As we end the year, Dom and Hannah have each picked their ‘business book of 2025’. In today’s episode Dom sits down with Christian Davenport, author of Rocket Dreams.Host: Dominic O’Connell, business columnist at The Times and business presenter on Times Radio  Guest: Christian Davenport, Washington Post journalist and author, Rocket DreamsClips: GettyPhoto: GettyProducer: Julia JohnsonExecutive producer: Kate FordGet in touch: thebusiness@thetimes.comYou can buy Rocket Dreams by Christian Davenport at the Times Bookshop. Hosted on Acast. See acast.com/privacy for more information.

2025 has been a wild ride of big pharma - driven by explosive use of revolutionary weight-loss medication - pushing one of the biggest manufacturers, Eli Lilly, to a trillion-dollar valuation. A dramatic takeover war also saw Denmark’s pharma darling Novo Nordisk trumped by US giant Pfizer. Now, while Novo’s share price is down 50% over the course of the year, Lilly is in the stratosphere normally reserved for the likes of tech firms.  But the story’s not over. These, and smaller, challenger companies are slogging it out for market dominance. Who can nail the science for the next holy grail in weight loss meds – an oral pill. And what does investor behaviour tell us about where the market is going? Presenters:Hannah Prevett, Associate Business Editor, The Sunday TimesRichard Fletcher, Business Editor, The TimesGuests:Eleanor Hayward, Health Editor, The TimesPaul Major, portfolio manager at Bellevue Asset managementProducer: Miriam HallSenior Producer: Julia JohnsonExecutive Producer: Kate FordPhoto credit: GettyGet in touch: thebusiness@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

Gold, the world's oldest asset, is experiencing a remarkable boom. Its value has surged from just over £2000 per ounce a year ago to well over £3000 today, reaching highs not seen since the 1970s. This rapid rise is unusual because gold typically peaks when stock markets decline, yet this rally has coincided with booming equity markets. So, what is driving the value up? Have we reached the peak, or is there more growth to come?Presenters:Hannah Prevett, Associate Business Editor, The Sunday TimesDominic O’Connell, columnist and business presenter, Times RadioGuests:Mehreen Khan, Economics Editor, The Times.James Ashley Morrison, Associate Professor, Department of International Relations and Associate Director of the Phelan United States Centre at the London School of Economics & Political Science.Jim Luke, Portfolio Manager of Schroders Global Gold Fund.Producer: Miriam HallSenior Producer: Julia JohnsonExecutive Producer: Kate FordPhoto credit: GettyGet in touch: thebusiness@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

This episode of The Business is sponsored by PwC.As AI rapidly reshapes the world of work, businesses face the biggest transformation since the industrial revolution. While 90% of CEOs surveyed are investing in AI, only 15% are currently getting the value. So, what are the tools driving productivity gains? How can companies move AI from an IT project to one that’s truly integrated across the business? And how exactly are the UK’s largest employers preparing their workforces for the future? In this special bonus episode of The Business, recorded at the Times Tech Summit, Dominic O'Connell chairs a discussion with those at the forefront of this new technology.   Guests:Dr Seth Dobrin, CEO, Qantm AIDanielle Gilliam-Moore, Director, Global Public Policy, SalesforceUmang Paw, Chief Technology Officer, PwC  Hosts:Hannah Prevett, Associate Business Editor, The Sunday TimesDominic O’Connell, columnist, The Times & business reporter, Times Radio Hosted on Acast. See acast.com/privacy for more information.

Fried chicken is booming in Britain - the market is now worth over £3bn a year. Up and down high streets, a whole new generation of fast food chicken restaurants have sprung up, buzzy US imports like Wingstop and Dave’s Hot Chicken, putting pressure on the established brands.In part, it’s down to Gen Z enthusiasm, driven by pop culture hits like Chicken Shop Date as well as viral ASMR videos of crunching, chewing and sizzling. So how can the market leader and established brand KFC maintain its dominance? And what does the fried chicken boom tell us about the way Britain - and British diets - are changing ?Guest: Rob Swain, General Manager, KFC UK & IrelandHosts: Hannah Prevett, Associate Business Editor, The Sunday TimesDominic O’Connell, columnist, The Times & business correspondent, Times RadioProducer: Miriam HallSenior Producer: Julia JohnsonDevelopment Editor: Sandra ShmueliExecutive Producer: Kate FordGet in touch: thebusiness@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

It’s being described as a "smorgasbord" of a budget - an offer from Rachel Reeves made up not of big, bold moves but of small, bite-sized titbits. But tax is up, spending is up and debt is still high - so do the measures add up to anything appetising for business at all? We pick over the details, from the big picture to the small tweaks in this budget special.Guests: Helen Miller, Institute for Fiscal StudiesSteve Rigby, Rigby GroupRichard Fletcher, Business Editor, The TimesHosts: Hannah Prevett, Associate Business Editor, The Sunday TimesDominic O’Connell, columnist, The Times & business correspondent, Times RadioProducer: Miriam HallSenior Producer: Julia JohnsonDevelopment Editor: Sandra ShmueliExecutive Producer: Kate FordGet in touch: thebusiness@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

More than $1 trillion has been wiped from the Crypto market in just six short weeks, but on The Business we hear from a man who still trusts Bitcoin more than any other currency. While many around the world fret about crypto crooks and markets that can be spooked by vibes alone, what’s it like to be ‘all in’ on Bitcoin? Andrew Webley, the founder and chief executive of the The Smarter Web Company, knows very well. He pivoted his web design agency into a so-called crypto treasury - that’s a company that holds digital assets as opposed to traditional treasury assets like cash or bonds. A long-time Bitcoin investor, Andrew was inspired by the approach of American crypto treasury evangelist Michael Saylor, and the billions he made through his bitcoin treasury company Strategy. The Smarter Web Company floated on the Aquis Stock Exchange in April this year, reaching a billion-pound market capitalisation in the summer. Now, despite the crypto slump, and his own company’s share price plunging by more than 70% since July, Andrew remains a steadfast believer in the future of Bitcoin, and the strength of his company.Guests: Andrew Webley, Smarter Web Company Hosts: Hannah Prevett, Associate Business Editor, The Sunday TimesDominic O’Connell, columnist, The Times & business correspondent, Times RadioProducer: Miriam HallSenior Producer: Julia JohnsonDevelopment Editor: Sandra ShmueliExecutive Producer: Kate FordGet in touch: thebusiness@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

There are few things that are as fascinating, thrilling - and sometimes as completely confounding - as the stock market. Right now, that's as true as ever. Consider Nvidia, which became the world's first $5 trillion company last month - putting its value higher than the GDP of every country except the US and China. Is there a logic to it, or is this plain madness? To get a grip on the forces at play, Dom and Hannah explore some historical parallels, first with Andrew Ross Sorkin, New York-based financial journalist and author of the book 1929, which explores the market crash of that year. Plus, veteran investment analyst Stephen Clapham joins Dom and Hannah.What can we learn from the market crashes of the past? Is there a brewing AI bubble about to pop? And are there some more troubling, lesser known stress points in the system? Guests: Andrew Ross Sorkin, journalist and author of 1929: Inside the Greatest Crash in Wall Street History — and How It Shattered a NationStephen Clapham, veteran investment analyst and founder of Behind the Balance Sheet, an investment research and investor training consultancy Hosts: Hannah Prevett, Associate Business Editor, The Sunday TimesDominic O’Connell, columnist, The Times & business reporter, Times RadioYou can buy the following books mentioned in this episode at the Times Bookshop:1929 by Andrew Ross SorkinToo big to fail by Andrew Ross SorkinNudge by Richard H. Thaler and Cass R SunsteinEngines that move markets by Alisdair NairnProducer: Miriam HallSenior Producer: Julia JohnsonDevelopment Editor: Sandra ShmueliExecutive Producer: Kate FordGet in touch: thebusiness@thetimes.com Hosted on Acast. See acast.com/privacy for more information.

This episode of The Business is sponsored by PwC.All eyes are on Chancellor Rachel Reeves as she prepares her autumn Budget. There have been hints at manifesto-breaking tax increases as she warns that everyone will have to do their “bit for the security of our country and the brightness of its future.” But what could all that mean in practice for business? Barret Kupelian, UK Chief Economist at PwC and Claire Blackburn, PwC UK Head of Tax, join Dom and Hannah on this bonus episode to consider the choices the Chancellor is facing, what measures she might announce - and what they may indicate for Britain’s economic trajectory.    Guests:Barret Kupelian, UK Chief Economist at PwCClaire Blackburn, PwC UK Head of TaxHosts:Hannah Prevett, Associate Business Editor, The Sunday TimesDominic O’Connell, columnist, The Times & business reporter, Times Radio Hosted on Acast. See acast.com/privacy for more information.