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Global trade’s new normal?
Business Daily
Feb 19, 2024

Three months ago, Houthi fighters from Yemen hijacked a cargo ship in the Red Sea and took the crew captive. It was the group’s first attack on commercial shipping in response to Israel’s military offensive in Gaza. Around 30 similar assaults have followed and the US and UK have retaliated with air strikes against Houthi targets in Yemen.

The Houthi attacks have wreaked havoc with shipping in the Red Sea, forcing hundreds of ships to re-route and make the much longer journey around the bottom of Africa. Supply chains have been interrupted and insurance costs have risen for vessels still passing through the area.

With no end to the tension in the region in sight, some companies are readjusting their timelines and accepting that the current situation might become the “new normal”. We ask whether the Houthi attacks have changed the way we move goods around the world for ever.

(Picture: Ships crossing the Suez Canal towards the Red Sea. Credit: EPA-EFE/REX/Shutterstock)

Presented and produced by Gideon Long

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Conflict in the Middle East has sent shockwaves through the global food system. Even with signs of a ceasefire, the impact may not be over.

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If you'd like to get in touch with the team, our email address is [email protected]

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Business Daily is the home of in-depth audio journalism devoted to the world of money and work. From small startup stories to big corporate takeovers, global economic shifts to trends in technology, we look at the key figures, ideas and events shaping business.

Each episode is a 17-minute, daily deep dive into a single topic, featuring expert analysis and the people at the heart of the story.

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We also feature in-depth interviews with company founders and some of the world's most prominent CEOs. These include Google's Sundar Pichai, Wikipedia founder Jimmy Wales, and the CEO of Canva, Melanie Perkins.

(Picture: A woman seen shopping for meat at a supermarket in Melbourne, Australia. Credit: Getty Images)


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If you'd like to get in touch with the team, our email address is [email protected]

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Business Daily is the home of in-depth audio journalism devoted to the world of money and work. From small startup stories to big corporate takeovers, global economic shifts to trends in technology, we look at the key figures, ideas and events shaping business.

Each episode is a 17-minute, daily deep dive into a single topic, featuring expert analysis and the people at the heart of the story.

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(Picture: The Anthropic logo is displayed on a smartphone screen in this photo illustration in Brussels, Belgium, on the 31st of March 2026. Credit: Getty Images)


17min 28sec



Global trade’s new normal?

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