State of the Strait

5 May 2026 · 53 min · 20 chapters

Ask about this episode

Ask anything about it. ChatGPT or Claude reads this page and answers with the times it was said.

Connect VO and ask about every podcast you hear, including the moments you saved. Add to ChatGPT · Add to Claude

In short

BBC “Wake Up to Money” episode covering (1) UK pub closures and what keeps some pubs profitable, (2) escalating tensions and shipping disruption in the Strait of Hormuz (“Project Freedom”), (3) prison work-rehabilitation at HMP Oakwood, and (4) GameStop’s $55.5B bid to buy eBay.

Guests/backgrounds

John Walsh, founder/CEO of gut-health brand Bio&Me (Chester). Zayna Bain, managing partner at Sullivan Street Partners (London). Megan Sutcliffe, Middle East & Africa analyst at Sibylline. Phil Belcher, Marine Director at Intertanko (shipping/tankers). Sasha Mayer, General Secretary at Nautilus International (seafarers’ union). Olivia Hutchinson reports from HMP Oakwood; prison staff/director Sean Oliver and manager John Porter are interviewed on-site.

Key claims

Hormuz reopening is not assured; only a few vessels transited with US escort, while Iran requires explicit permission and has attacked UAE and vessels. Pub closures are “avoidably” driven by tax burden and costs despite brisk trade. HMP Oakwood’s work schemes (Iceland supermarket, timbershop, gardening) aim to improve release outcomes and employ most inmates.

Notable examples

Bio&Me’s date-paste supply shock due to Iran producing ~30% of world dates; HMP Oakwood “Cherry Blossom Marketplace” with Iceland branding; seafarers stranded (~20,000) and crew-change difficulties; GameStop leveraging debt to buy eBay.

Written by AI. May contain mistakes. Listen to the episode to check what was said.

Chapters

Tap a time to open that second in VO

The State of British Pubs

2:36 to 3:47

Explore the current trends and challenges facing British pubs today.

“If it's just after 5 o 'clock and you've had a bank holiday weekend and your working week starts now, I hope you're feeling fresh.”

Local Insights on Pub Scene

3:47 to 5:24

Hear personal stories and insights about pubs in Chester and London.

“So I'd like your perspectives, please, on the pub scene around by you.”

Impact of Economic Factors on Pubs

5:24 to 8:13

Understand how economic changes affect the pub industry and closures.

“You sort of mentioned the ability to become a workplace by day, perhaps, or by weekday, and then by evening or by weekend.”

Entrepreneurship in the Pub Sector

8:13 to 10:36

Discuss the role of entrepreneurs in revitalizing the pub industry.

“And over the whole of 2025, the industry tells us that 336 pubs reported closures in that period.”

Latest Events in the Middle East

10:36 to 11:25

Get updates on geopolitical developments in the Middle East affecting shipping.

“So, Dave, which pub would it have been you were going to?”

Strait of Hormuz Tensions Explained

11:25 to 14:00

Learn about the current situation in the Strait of Hormuz and its implications.

“Now joined, as we have been so often in recent weeks, by Megan Sutcliffe, Middle East and Africa analyst at the intelligence company Sibylline.”

US Naval Presence in the Strait of Hormuz

14:00 to 17:47

Discusses the implications of US naval operations for commercial vessel safety.

“Well, it certainly shows a great degree of confidence in the US's capacity to safeguard vessels moving through the Strait of Hormuz.”

Supply Chain Disruptions in Food Production

17:47 to 19:56

Explores how geopolitical tensions affect food supply chains and production.

“Megan Sutcliffe there from the intelligence company Sibiline.”

Market Volatility and Investment Strategies

19:56 to 22:45

Analyzes current market trends and the challenges faced by investors amidst geopolitical instability.

“I mean, the first big one for us was Ukraine, where, you know, the amount of grains and seeds that we also use that they produce is huge.”

Prison Work Programs at HMP Oakwood

22:45 to 24:48

Highlights innovative work programs in UK prisons and their impact on inmates.

“But as I said, there's a sort of dichotomy between the tech economy versus the real world.”
Show all 20 chapters

Inmate Training and Skills Development

24:48 to 28:00

Details the training programs for inmates and how they prepare for life after prison.

“just a few examples of the jobs the inmates here at HMP Oakwood carry out.”

Positive Steps in Prison Rehabilitation

28:00 to 31:22

Learn about innovative programs in prisons that teach skills and provide purpose.

“So it's about having that family-based food, cooking, it's just normality again.”

The Importance of Interaction and Rehabilitation

31:22 to 32:52

Discover the significance of fostering interactions for inmates' reintegration.

“It's that bit about rehabilitation, you know, making sure they understand how to do things, how to just interact.”

Examining the Decline of Pubs

34:08 to 39:38

Analyze the reasons behind the closure of pubs and changing consumer habits.

“Thank you for all of your messages because the British Beer and Pub Association has said 161 pubs closed in the first three months of the year.”

The Shipping Industry and Geopolitical Tensions

39:38 to 42:00

Discuss the situation in the Strait of Hormuz and its impact on seafarers.

“US Central Command Forces said they would support it with 15 ,000 personnel, guided missile destroyers, more than 100 aircraft.”

Current Situation for Seafarers in the Gulf

42:00 to 43:52

Discussion on the ongoing challenges faced by seafarers in conflict zones.

“On the one hand, it doesn't change anything at all for the stress and the situation of the people on board of the ships.”

Information Flow and Mental Health of Crew Members

43:52 to 46:40

Exploration of how information access impacts the well-being of seafarers.

“We certainly acknowledge the bravery of some of the US crews, the helicopter crews, etc., but we've got no real assurance that this project is going to be adding to the security level of the ships.”

Resilience and Mental Stress Among Seafarers

46:40 to 49:31

Insights into the mental stress seafarers endure during prolonged assignments and conflicts.

“He has been there where when there was also absolutely no crew change possible, where the airports were closed, when they were stuck in a war that they hadn't chosen for, and that could come back any moment.”

Challenges Faced by Ship Owners and Recruitment

49:31 to 50:40

Discussing the long-term implications for ship owners and crew recruitment amidst conflict.

“there is far more applicants into our industry than in our spaces at the moment.”

Appreciating the Work of Seafarers

50:40 to 55:15

Highlighting the importance of seafarers and the conditions they work under.

“Yeah, I was listening to that lady talking, especially Sean, and describing so well the conditions on board.”
Hear the part that matters, and keep it.Open this episode in VO. Double tap your headphones to save a moment as you listen.
Get VO free

Transcript

Automatic transcript. May contain errors.

0:00This BBC podcast is supported by ads outside the UK.

0:29CFO. LinkedIn has a word for that. Bull spend. Now you can invest in what looks good to your CFO. LinkedIn ads generates the highest ROAS of all major ad networks. You'll reach the right buyers because you can target by company, industry, job title, and more. So cut the bull spend. Advertise on LinkedIn, the network that works for you. Spend$250 on your first campaign on LinkedIn ads and get a 250 credit for the next one. Just go to linkedin.com slash broadcast. That's linkedin.com slash broadcast. Terms and conditions apply. Make Mother's Day even more special at Whole Foods Market. Kick off brunch or dinner with quality cheese and charcuterie with no synthetic nitrates.

1:19Then go seafood. There's an abundance on sale at Whole Foods Market, where it's all sustainable while cod or responsibly farmed. At the bakery, grab seasonal treats like their strawberry pretzel cream pie, and you can't go wrong with a ready-to-heat quiche Lorraine, deviled eggs, and fresh-cut fruits to go. Celebrate mom with Whole Foods Market. Wake Up to Money from BBC 5 Live. Hello, welcome. It is Wake Up to Money over in Washington. They seek to guide stranded ships out of the Gulf through the largely closed Strait of Hormuz. We're going to find out if this has actually made anything clearer for the shipping industry.

1:59We'll be heading inside a UK prison this morning, which is giving thousands of inmates the chance to work behind bars. People come through, they've got a short sentence, and we train them up, and they're getting out, and they're getting jobs. HMP Oakwood has more working prisoners than any other UK jail. Wake Up To Money has gained special access to see how it all works. That'll be fascinating. And why has an American video game retailer made a$55 billion bid to buy eBay? We'll find out. Wake Up To Money with Sean Farrington. Good morning to you. Wake Up To Money on BBC5 Live on this Tuesday morning, the 5th of May.

2:36If it's just after 5 o 'clock and you've had a bank holiday weekend and your working week starts now, I hope you're feeling fresh. Got a spring in your step after that extra day. It may well be, as it is for so many, that the bank holiday does not mean a day away from work and that today might just bring another day, might be coming to the end of your night shift. Let us know where you're at, how your working habits have been going over recent days. And I would like to hear your thoughts on your local pub scene. What's been going on? The amount of different angles of this we've talked about in recent years, whether it's sort of pop-up craft bars turning into something more permanent, community pubs being saved at the last moment and then thriving.

3:20It may be that your pub is still going as it always has in the form it always has. Or it might be that sadly, as is being reported this morning, that it's become one of those pubs that has been closing as part of what seems like an increase in closures on last year. British pubs closing at a rate of almost two per day in 2026 so far. This is according to the British Beer and Pub Association. So I'd like your perspectives, please, on the pub scene around by you. Whether things are changing, are pubs clinging on, are some thriving? Are there different habits that are needed to be provided for? 85058, let me know what you're thinking on that.

4:04I've got John Walsh with me this morning to chat over this and plenty more on Wake Up To Money, founder and chief executive of the gut health food company, Bio and Me. John, very good morning to you. Good morning to you, Sean. How are you? I'm okay, thank you, John. Whereabouts in the UK are you based, John? Chester, so not so far away from you. Not too far from us in Salford Quays. And Chester, I mean, a day out in Chester on a sunny Saturday afternoon would be something many around the North West would talk about as being on their cards for a lovely occasion. But, John, when you look at pubs in particular, either in Chester Town Centre, your local High Street, wherever that might be.

4:47What's been the story of recent times? I think you're right, Sean. I think Chester is a kind of maybe epicenter of good food and drink. And yeah, the pubs here are doing really well. My favourite local one is called The Architect. And it's part of the Brunningham price chain, if you know them. And they were doing a roaring trade. If there is a bit of a trend going on, And I think, you know, a lot of it is the beer and the food. During the week, they have people working in there, you know, on their laptops with coffees and all the rest of it. But I know it's tough in other parts of the country, but I think here in Chester, it's, yeah, it's good.

5:25Yeah, interesting. You sort of mentioned the ability to become a workplace by day, perhaps, or by weekday, and then by evening or by weekend. It ramps up into the more traditional scene. Do you ever do that yourself? No, so our team is based here. We have a little office in the University of Chester that we rent from them. So there's 12 of the team here, so I always sit in with them. But we're not, although we are a gut health brand, we're not immune to the odd pint after work, so we'll wander along there afterwards. Got Zayna Bain with us as well this morning, managing partner at Sullivan Street Partners.

6:02Zayna, very good morning to you. Good morning. Whereabouts are you, Zayna? I am here in the studio in London. Oh, and is London your home? Are you in the suburbs around there? Does it feel to you like the pub scene is thriving? There were some headlines, weren't there, yesterday morning, about some quite high-end parts of London charging a tenner for a pint. But does it feel to you like the higher prices are actually having an impact on what you're being served up? I think there's a bit of a barbell in my area, certainly. The one that was a really nice one did struggle for a while, but I think local demand was so strong given how few we had.

6:41So it revived itself. Then we have another one that replaced a failing site. We had two restaurants that went bust and then a new pub just came in that I think is just working on a lower price point and is suddenly completely full. So I think it's picking your spots of areas that have been neglected by restaurants that went bust in the last few years. Very interesting that. So the same spots, but different price points. So I'm not necessarily saying you've gone through the balance sheet of your local pub, Zaina. I'm not that sad. That's what we'd like people to be doing on Wake Up 20, but you are allowed to break every now and again.

7:18But the concept behind that, people might think, well, hang on, why wouldn't those that were in there beforehand just switch to a lower price point business model to keep things ticking along? I think for this particular one, it was firstly this kind of very strange Swedish restaurant. Then it turned into this kind of steak place that was a Soho type of restaurant. And now it's a Wetherspoons. And for the first time ever on that particular spot, it's full. So I think that's more about the offering and reading your area a lot more closely and thinking about the catchment area. Because as other pubs do close down, actually your catchment area potentially expands.

7:58and you've got more people who were looking for that, A, community space, and B, price point, you've now found a spot and hopefully your lease is now cheap enough to be able to afford those sorts of covers. Interesting, because when we look at these numbers, John, two British pubs closed today in the first quarter of 2026, and it feels like every year there is an aspect to a British pub closure story that we're talking about, but this one equating to 2 ,400 jobs across the first three months of the year. And over the whole of 2025, the industry tells us that 336 pubs reported closures in that period.

8:38So the number of closures are on track to be a fair bit higher than it was last year, but we'll sort of see as the months go by. Does it feel more generally, John, when you hear that, I mean, we've heard it so often on Wake Up To Money, the sort of squeeze on pub profits that have been put on by, whether it's changes to business rates, there might have been increased minimum wage that's coming, the national insurance taxes that increased as well, on top of the wider sectors the pub industry has to face. Is it a surprise to you that this many have been closing? It's probably not a surprise. Obviously, it's not our sector, But you do hear relentlessly about how it feels like hospitality somehow is the epicenter of the increased costs, you know, partly taxes, partly increases in staff costs, etc.

9:32So I think their challenges are well documented. It was funny, though, I was reading a couple of articles over the weekend and I, whilst it is tough, I think it also shows the value of entrepreneurship. because where whilst there are stories of ones closing there are also stories of people who are finding creative ways to to use the space I mean when you were talking about Chester earlier Sean it reminded me there's a new one that's opened um that's like half bookshop half it's more like wine bar than pub and they've only just started they're only sort of two three months old but but they've had a really good start and there's like a nice little buzz about it and I I mean, let's see how they go.

10:16But that role for entrepreneurs to come in and give it a go, that's how you create wealth and growth in the country. And I, yeah, so I think it is really tough for pub landlords, but there will be a way through. It's just, yeah, the utter determination to keep going and finding it. Dave says, can't afford to go to a pub anymore with the prices. 85058, do let us know. So, Dave, which pub would it have been you were going to? What was it that was great about it before? Let's know where you are. Name the pub. If it's doing well, let us know what's working well for it. If you're sad about its demise, let's have a bit of nostalgia about what it was like in the glory days.

11:01Very interested to know where the pub scene sits round by you because there's so many aspects to it these days. Small, large, pop-up, whatever it might be. that things are clearly changing and the headlines this morning are about the closures. Is that what the story is ran by you or are some opening, maybe different scale? 85058, right, let's get the very latest on events in the Middle East. Now joined, as we have been so often in recent weeks, by Megan Sutcliffe, Middle East and Africa analyst at the intelligence company Sibylline. Megan, very good morning. Good morning, Sean. So as we wake up this morning, Megan, it feels like over the past 24 hours, there have been sort of major developments.

11:49We've seen the oil price for a barrel of Brent crude go to$113 a barrel now. And a lot of this is to do with American attempts, Donald Trump's attempts, to try and escort some ships through the Strait of Hormuz, which we know has been effectively closed during this period. So what is occurring in the Gulf at the moment, Megan? So right now we are looking at a period of significantly escalated and elevated tensions in the Strait of Hormuz. If we go back to Sunday evening, essentially we saw US President Donald Trump announcing something called Project Freedom, whereby the US would facilitate the reopening of the Strait of Hormuz to commercial vessels, which of course has been effectively shut since the 28th of February.

12:43Then we saw a handful of commercial vessels reporting that they had moved through this waterway. But similarly, we also saw several vessels, including a UAE flagged vessel and a South Korean flagged vessel, announcing that they have been targeted by Iranian hostilities after Iran made it very clear that the situation for them has not changed in the Strait of Hormuz, that any vessel that is hoping to move through the waterway must secure explicit permission. We've also seen Iran engaging in hostilities targeting the UAE, triggering a fire at an important oil port in Fujairah. And we've also seen the US subsequently issuing claims stating that it had destroyed six small Iranian boats within the Strait of Hormuz.

13:32Essentially, what we're looking at at the moment is the risk of this conflict re-escalating in a very rapid and uncontrolled way because of the status of vessels moving through the Strait of Hormuz, the risk of kinetic hostilities targeting those vessels, and this entire conflict going back to where it was before the ceasefire came into force. What do you make, Megan, of that shipping company, Maersk, telling the BBC that one of its American flagged ships had successfully exited the strait with US military protection? Well, it certainly shows a great degree of confidence in the US's capacity to safeguard vessels moving through the Strait of Hormuz.

14:15Of course, Maersk has made it very clear that this entire situation has been intolerable to their activity. in the Strait of Hormuz and the movement of commercial vessels more generally. But the fact that we have seen two vessels, including one Maersk vessel, moving through the waterway does not indicate that it is open again and does not indicate that the US Project Freedom is going to be a sustainable approach to resuming vessel transit through the waterway. On an average day before this war, we saw up to 145 vessels moving through the Strait of Hormuz on a daily basis. And if we're then looking at Iran effectively saying that vessels that have not secured permission are not able to move through, the US providing an escort to two vessels doesn't necessarily change that.

15:05And it doesn't speak to a capacity to provide this degree of protection to the number of ships that generally would be transiting the waterway on a daily basis. Yes, it is a good thing that at least one vessel has moved through, but it doesn't indicate that the waterway is open or that the pressure we have seen on international energy and commodity markets is going to lessen anytime soon. Do we know what is particularly being prioritised on the ships that America is trying to get through and maybe the couple that have got through? We don't necessarily know that because the US hasn't issued sort of detailed manifestos for the vessels that have moved through.

15:44But generally speaking, we know from President Trump's statements that his focus is on energy markets and particularly on securing the movement of oil and gas out of the Gulf once again. It's likely that those types of exports will be prioritized as we see the implementation of this policy moving forward. But of course, the movement of vessels carrying that cargo will almost entirely depend on the ceasefire remaining in place. Even though tensions are very high and we have seen the firing of missiles and of drones towards the UAE and towards commercial vessels, we're not at the same intensity that we were during the conflict that, of course, occurred between February and April.

16:29And just, sorry, Megan, just finally, I just wonder, you know, when Donald Trump says, we've shot down seven small boats, or as they like to call them, fast boats, to quote Donald Trump, and then he says, it's all they have left. What are the levels of the Iranian military at the moment? Well, he is partially correct in stating that the majority of Iran's naval capabilities is limited to these fast attack craft, to these very small boats that are primarily operated by the IRGC. That's partially because the US engaged in very effective airstrikes targeting Iran's more conventional naval capabilities.

17:10So the larger boats that we would generally associate with a navy of any given country. However, though Trump is trying to infer there that Iran lacks naval capabilities because all they have are these small boats, it's very clear that those boats have been effective in deterring the resumption of shipping through the Strait of Hormuz. And that is, of course, before we even consider Iran's continued capability to launch missiles, drones and unmanned surface vehicles towards entities that it identifies as being hostile to its objectives. That includes countries in the Gulf and commercial vessels without permission.

17:46Megan, thank you for your time this morning. Megan Sutcliffe there from the intelligence company Sibiline. John, when you've got a business like you have a gut health food company, Bio and Me, people may well have seen your products on supermarket shelves. And we've heard many businesses like yours talk about what disruptions to supply chains might well mean. Have you had to be reacting to issues in the making of your stuff in the last few weeks? We have, Sean. I'll come on and explain. I probably ought to say up front, you know, I know there are bigger issues at stake, but I think maybe our story sort of shows just how interconnected the world is and the unintended ripple effect.

18:33So as you were just nice enough to say, then we make granola and we want it to be as gut healthy as possible. So no added sugars or anything. So we use dates to stick our granola together and to make it make it crunchy. And it turns out Iran is produces about 30 percent of the world's dates. So when the war started, you know, we had a panic around trying to find some new supply for dates. the price shot up um and it was very difficult for a short amount of time our our coo mark was you know ringing up absolutely everybody and he he managed to find a whole container full of um date pace so that's now um arrived in the uk for us but you know i know it's just a small example but it does show how how interconnected the world is and when these things happen you know you you You pull your hair out because of the bigger consequences, but it also, yeah, it affects our business as well.

19:34Do you start to then also think we need a more permanent alternative to where we're getting one of those products like that, given every week, just this morning we're hearing, as Megan described there, escalations again? Yeah, I mean, I think one thing we are learning, because obviously this isn't, we've been getting for seven years, Sean, And I think one thing we've learned is you have to have multiple sources of supply because these just feels like the world is constantly getting disrupted. I mean, the first big one for us was Ukraine, where, you know, the amount of grains and seeds that we also use that they produce is huge.

20:16So, again, we've had to source and find multiple sources of grains and seeds, et cetera. So it's a real shame because it's not what we want to do, but it's kind of what world events force you to do. And Zaina, how do you see it on those investment markets this morning, whether it's the price of a barrel of Brent crude stock markets around the world prospects for the day ahead, given these changes? What's interesting is if you look at the volatility index, so that's a prediction of how volatile the stock market will be. It was back down to 18 percent. It was about 35 percent before. So what it means is that people are settling into this new normal of something new every day.

20:56So back in the day, everyone thought about, you know, one black swan per decade, maybe two decades. Now, within a 10-year period, you're thinking maybe I'm getting a black swan event, this unusual disconnect in the markets more frequently. It just makes it a lot harder to plan. And there's a real dichotomy between people going, OK, there's all this noise around AI stock. I will now go to value stocks or more kind of hard assets. but then when you see these sort of physical logistical disruptions makes those quite hard to forecast. You know, just going from the micro, if you have an international business with Middle East operations, do you send your people into work?

21:34Do you not go there? Does that impact your profitability? Then think about logistics costs if you're shipping things internationally. You have insurers who've withdrawn insurance on certain routes near the Straits of Hormuz so you can't even get your goods insured and therefore can't get them on to their ultimate customers. So from a market's perspective, what it's creating is an acclimatisation to a bit more volatility, but then with higher inflation, you're having to go for more alpha in your stocks. So you still do go... Just explain that when you say more alpha in your stocks. So you're trying to create more return on your stocks.

22:09So you're typically trying to beat an inflation plus a return target. So you're trying to go for real returns. And so that would typically say, OK, I need to go to my highest growth stocks. That often means absorbing quite a bit of volatility. For a while, with all the volatility in the US, people tried to pull out of the US, put more investment into Europe. But again, as inflation gets higher, where do you invest your money to try and create that return for yourself? And so it makes it incredibly hard for a fund manager figuring out where to deploy their capital. You can't ignore the US. It's too much of a component of your return in the market.

22:45But as I said, there's a sort of dichotomy between the tech economy versus the real world. And right now you can't take comfort in either. 85058, your thoughts, please. Thank you for your messages about the pub environment near you at the moment. The pub scene talking this morning about this report that two British pubs are closing every day. That's the rate so far this year, according to the pub industry this morning. Interested to know what isn't working, what is working in the pub scene. Ran by you at the moment. I've had a few messages in about what local breweries are up to when new owners step in and what is working and what isn't.

23:24We'll go through a few of those in a moment. But first, let's hear about what life is like at one of the UK's prisons. A record has been set for the amount of prison inmates working behind bars in the UK. It follows the launch of a new scheme at HMP Oakwood in the West Midlands, which houses more than 2 ,000 offenders. All but seven of them are employed in a range of jobs, including at a dedicated in-house Iceland supermarket where prisoners are able to shop. Wake Up To Money's Olivia Hutchinson has been along to HMP Oakwood to find out more.

24:06It's a sense of structure. It's a sense of purpose. It's getting away from prison love, you know. I need to do stuff like that because I'm doing such a long time in prison. So I need to keep that skill set up. And over years, you know the saying, if you don't use it, you lose it. It is a lot of trust and a lot of responsibility that Sean gives us, but it's something we don't take for granted. Hello, I'm Sean Oliver. I am the director here at HMP Oakwood. The prison here at Oakwood, we make sure it's a work in prison. So people have to work. So I won't tolerate people. I think it's easier for them not to work if so big, but I won't allow that.

24:42So I don't think it's soft at all. I think it's actually putting prisons in a better place when they are released. From metalwork to gardening to the assembly of windows, just a few examples of the jobs the inmates here at HMP Oakwood carry out. It's down to various partnership schemes between the prison and external companies, which offer the opportunity of employment upon release. This is the yard where all of the products are stored for shipping out, all the materials are stored for going in. My name's John Porter and I'm the Industries and Activities Manager. We've got various different contracts in this side, Prisoner-Led Initiatives, which is where I'm going to take you now, which is OTS, which stands for Oakwood Timbershop.

25:22It was set up by two prisoners in a shed and now it's expanded into what it is now. Part of the setup here is that I allow very few prisoners to work in a regime where if they sell a bit of profit they make, they can have that profit, because G4S don't take any of the profits at all. So this gives them a chance to put some money into their savings account which they can't touch until they are released. On the lead in here we build everything from garden furniture, bird boxes, bird tables, right up to Sheds. So this is a company called DIY Sheds. We have two workshops working for this. They also go and take at least an interview on release.

26:07So as you can see we've got hammers, screwdrivers, pliers. They all have to be accounted for at the end of each session. So there's a tally system in place where you put the tally against your ID card and then you take that tool and you have to bring it back before the end of the session before everybody leaves. Drills, chop saws. There's a tool supervisor which which is a prisoner who will be in charge of this. Obviously then we've got an instructor who will oversee it all. And that all runs smoothly? Yes. Touch wood. We haven't lost it all. What does it mean for you being able to do this type of work?

26:41It's amazing because in other jails you can't do this type of work. You're not given this type of freedom. You're actually using your mind in here. Because when there's a problem, instead of calling an officer to sort it out, they're calling a prisoner to sort it out of that problem. It's a step up and it's kind of real world as well. This is a beautiful green space we've just entered. There's lots of benches, there's lots of plants, flowers, almost a little garden centre section going on there. A big part of what we do, we sell fruit and veg, but we also sell the flowers, the staff. If we go through into the two polytunnels, germination sheds, this is where everything starts off, all of the seeds, and then behind you we've got all the chilli plants.

27:21We've got over 400 chilli plants this year. So what happens to them? So we sell them. So we'll get orders from the lads first thing in the morning, we'll process them. So we pick the order, we wash it, we weigh it and then we distribute it. And so if we get the order first thing in the morning, they'll get it by lunchtime that day. So they can actually use the kitchen and the facilities here to have fresh produce. People can say, well, why are you allowing them to have fresh produce? Food they can buy on the normal canteen would be normally sugar-based foods, processed foods. This is fresh food.

Read the full transcript

27:50More fresh food prisoners eat because prisoners are notoriously in prisons. and not the healthiest. So obviously that comes straight on the NHS and escorts and bed watchers. So this is, I think, a real positive step that men learn to use food and they do stuff in the visits department when they have family visits where they grow the food and they cook the food for their families when they come in. So it's about having that family-based food, cooking, it's just normality again. The prison is also home to the Cherry Blossom Marketplace. It launched here last year and features in the Iceland supermarkets.

28:26The lads who work in there are trained, trained in how to stack the shelves properly, how to check the freezers, how to unload the lorries, health and safety things, how to use the tills. And then they are, again, guaranteed at least an interview upon release with Iceland. As you would in any shop in the country, you've got your basket, you go round, you do your shopping. There's a set budget that can only spend up to£15 in Iceland itself. That also teaches them budgeting. We're faced with chest freezers, there's aisles as you'd see in a supermarket, the likes of things on sale. We've got cotton buds, face wash, crackers, cheese, yoghurt.

29:06Iceland got fully on board with us and they actually donated some of the freezers to help set up. Everything that you can see, all the wooden structures was made by the prisoners and then it's run as you would a normal supermarket. So we have to put the VAT onto things, we have to cash up at the end of the day, we have to make sure that everything's fully functioning and stocked, stock takes. All of the stuff that you were doing in all supermarkets, the lads do. Obviously we oversee it to a degree, but the lads are in charge of that. We're just restocking, so we have a delivery tomorrow. And what does it mean for you working here?

29:42It's good because it gives you a purpose, because some prison jobs, you don't get much out of it, but you get stuff out of this. People come through who have got a short sentence and we train them up and they're getting out and they're getting jobs. So I think there's been nine people who have got a job through this year. So you get purpose out of it like that. Like you've got to manage everything. So like we've got to do stock rotations. You're getting skills like that. Dealing with like working in a team. Other prisoners come through. So it's like working with the public. And John, there's even the same brand partnerships as C that are used in actual Iceland supermarkets.

30:12Like the Greggs, Frozen, Sausage Rolls, TGI Fridays. When we first got Iceland in, we had to ask permission from Greggs, TGI Friday, Harry Ramsons, all of the companies who they work with, we had to ask permission for them to be involved and they all said yes, hence why we've got all the branding round as you would in a normal supermarket. We're trying to make it as close to real life as we can. And in terms of the frozen stuff, how does that work when it comes to cooking it? So to actually come into this area you have to be enhanced or gold regime, which basically means you have to behave. Those enhanced wings do have freezer space and kitchens where the lads can cook.

30:52And since the launch of Cherry Bottom, we're coming up to the first anniversary, aren't we? Yeah. What would you say have been the key takeaways? What have you got out of this project? We've had some success stories within people now work for Iceland, which was what the main idea was, to get lads jobs upon release. The central normality that it brings to the lads is obviously fulfilling. I'm really proud of what we've achieved here. I love it, it's my baby. This cost about£40 ,000 for G4S, so G4S put the money towards us to do it. He could have said no. It's that bit about rehabilitation, you know, making sure they understand how to do things, how to just interact.

31:29Interactions are really important. People just being in a normal environment without causing problems, that's really important. Some of the prisoners I've spoken to today, they reference other jails they've been in that are very different to this one and talked about maybe how they feel that they have a bit more freedom here and they have the ability to work on themselves and they're really grateful to have those opportunities to work compared to being stuck behind bars and in cells 23 hours a day. What would you say to someone who may argue, look, someone's been sent to prison for a reason, they've committed a serious crime, they've got to pay their time.

32:08I would say every man in general is going to be released. So who do you want me to release? Someone who's engaging, has learned to engage with people, has done a lot of work whilst in prisons, and I have that ability to think past just what they've been previously and have an opportunity to change. Our responsibility, I see it, is to make them better from when they came in. and whatever scale that is, doesn't matter. That's because there's going to be someone's neighbour only, whether it's your grandmothers or your daughters or your brothers, your uncles. There's someone's neighbour, so hopefully we'll try to educate them to rehabilitate and engage in positive activity.

32:51Olivia Hutchinson there reporting for us, who'd been along to HMP Oakwood. Really interesting developments. Are you really buying a car online on Autotrader right now? Really? At a playground? Yeah, really. Look at these listings from dealers. Wow, your search can really get that specific. Really? And you just put in your info and boom. Cars in your budget. Mom needs a second, honey. You can really have it delivered? Really. Or I can pick it up at the dealership. One sec, sweetie. Mommy's buying a car. Mommy, look. Uh, I think your kid is walking up the slide. Kyle, again? Really? Auto Trader.

33:29Buy your car online. Really? Make Mother's Day even more special at Whole Foods Market. Kick off brunch or dinner with quality cheese and charcuterie with no synthetic nitrates. Then go seafood. There's an abundance on sale at Whole Foods Market, where it's all sustainable while cod or responsibly farmed. At the bakery, grab seasonal treats like their strawberry pretzel cream pie, and you can't go wrong with a ready-to-heat quiche Lorraine, deviled eggs, and fresh-cut fruits to go. Celebrate mom with Whole Foods Market. Wake Up To Money with Sean Farrington. Good morning to you. Wake Up To Money on BBC Five Live.

34:08We're talking pubs this morning. Thank you for all of your messages because the British Beer and Pub Association has said 161 pubs closed in the first three months of the year. So approximately two pubs closing a day in the first quarter of the year. And that would be a bit of a ramp up on the overall rate through 2025 when 336 pubs reported closures throughout the whole year. And these numbers are for pubs across England, Scotland and Wales. And the industry says that that equates to the loss of around 2 ,400 jobs. And when they look at the reasons they see as to why that is occurring. It's interesting these quotes from Emma McClarkin, who's the chief executive of that association, says the scale of these closures is avoidable because pubs are doing a brisk trade, but their profits are being wiped out by a disproportionate tax burden and huge costs.

34:59We want to work with the government to establish a permanent long-term plan that will deliver permanently lower bills, fairer system, ultimately protect this treasured sector. Many of you get in touch. It's an important sector for lots of you getting in touch with us this morning. One person here saying, this is Bruce, saying, My local pub was taken over after years of ticking along, opening around the weekend only. but new owners, full week opening with many improvements. But sadly, it seems the overheads have seen it close within 16 weeks. John Walsh has been with us this morning, our boss on the show, founder and chief executive of the Gut Health food company, Bio and Me.

35:39John, can it be that there can be lots of demand for your product and you can almost end up being quite busy, but as a business, it just doesn't work? It can, Sean. I mean, we chatted about pubs earlier and the importance of sort of if things aren't working, trying to change things to make it work like like that story just then. But sadly, it hadn't worked. I mean, in our case, I mean, we're we're we're relatively new, Sean, as you know, we're six, seven years old. But it took us until our sixth year to move into profit. So we had some very supportive investors who carried us through that time and some of the difficult times that we were talking about before with Ukraine, etc.

36:28But now that we are profitable, it really does feel good. And by the way, when I say profitable, we're only just, you know, we don't want to be more than break even because we want to reinvest everything else into growth because we are, we're growing so fast. But it really mattered to the team that we moved into positive break-even, if I call it that, because you suddenly become a real business. And they all really got energised about it. And we're very focused on staying there because of these stories, like you're saying, with pubs. We don't want to go down that route. We want to be strong. And that means be profitable.

37:08I've had a shout out from David in Dorset for one of his local bars. He says that's now rare. He says no food, so just serving drink. He says it's busy as well, the pursuit of hoppiness in Dorset. David sends a longer message alongside that saying, as someone who works at a brewery and visits a pub at least twice per week, I've now concluded that we all say we want pubs to continue, but now almost in the same way we said we wanted to retain libraries, We want them, but less and less people actually use them. Young don't drink. The gym is the replacement of food. The local successful ones have turned into restaurants selling beer.

37:47Zayna, is there also something when we see these numbers, and I know the industry is talking about the tax burden, about how habits have changed, and that just makes some of this a little more unviable than compared to how it was before? Absolutely. I think the examples there illustrate the whole issue working backwards from the demographic in terms of your local catchment area, you know, opening all day every day during the week when you look at the ebbs and flows of people's footfall, perhaps wasn't very sensible if they'd really observed the patterns of people's movements. But I think you're right in terms of where the drinkers do come from and how much they're willing to spend.

38:26Are they buying it in the supermarket at a lower cost? That's one aspect of it. The other is just the on cost of employees and the overheads that you have to handle. but you're absolutely right in terms of new people coming into the pub scene that's quite niche it's got to be a slightly different setup than might have worked in the days of yore. Had Alan in Bedfordshire get in touch if any businesses provide a non-essential service if they're going to survive then house prices need to fall or wages need to go up a single person working full-time can only just afford the very basics of existing much of the UK now because of the cost of housing it's that simple and Brian from Buckinghamshire says pubs that involve the community survive community owned with art exhibitions reading groups and open mic nights at the bell and bear in emberton plus the little ale house in wellingborough for a warm welcome conversation as well stop spending money on boring refurbishment says brian have staff with the personalities to make the pub somewhere you want to be 85058 please do let your pub thoughts uh come to us this morning uh what's the scene like ran by you shout outs for the ones that are working, reminiscing of the ones that used to, but maybe don't anymore.

39:36Your thoughts on why that all might be 85058. Right. Let's have a look in a little bit more depth now at the shipping industry in the Strait of Hormuz, particularly in the context of this Project Freedom, as Donald Trump has described it, and an operation to guide ships out of the Strait of Hormuz. US Central Command Forces said they would support it with 15 ,000 personnel, guided missile destroyers, more than 100 aircraft. But as we've been hearing, Iran's military warning yesterday would attack US forces if they entered the Straits. They've fired missiles at the United Arab Emirates, so say the UAE, in the first attack on the nation since we had the ceasefire begin.

40:16The US forces have struck the seven Iranian small boats, according to President Trump. We've got Phil Belcher with us, who's the Marine Director at Intertanko. Phil, good morning. Good morning, John. Just tell us what developments you've seen from your perspective. Well, Operation Project Freedom is an interesting concept. We're not sure at the moment whether it's going to have a positive effect at this stage. There's real lack of details and information about what it is. And we're not certain that it's actually going to relieve the humanitarian issues that we've got going on in the Gulf. Some 20 ,000 seafarers stranded on ships.

40:54It doesn't look likely it can be a broadly supportive way of getting ships out of the Gulf. It's not providing us with a clarity on safety navigation. There's no communications plan. And we don't know about the mitigation of the risk and the threat to the seafarers on board the ships as they will be transiting. Well, we've got Sasha Mayer with us as well, who's the General Secretary at Nautilus International, the Seafarers Trade Union. Sasha, good morning. Good morning, Sean. Thank you for having us on the show. Thank you for joining us again, Sasha. As we've sort of heard in recent weeks, we've looked at many aspects of what is occurring in the Middle East and the welfare of the seafarers has been one that is concerning many.

41:36What do these latest developments mean for those working on those ships and the ports around the Strait of Hormones and the Gulf? Yes, thank you. What we hear from members is that, like Phil also says, there is a lack of details. There is no comfort yet at all with the members that I talk to that this will help them, that this will help the vessels get out of the straits safely for the moment. On the one hand, it doesn't change anything at all for the stress and the situation of the people on board of the ships. On the other hand, it's probably, it makes it a bit worse because the hostilities seem to have resumed.

42:26So it's actually, for the moment, not an improvement at all. So approximately 20 ,000 seafarers, 2 ,000 vessels have been stuck in the Gulf for the last nine weeks. Phil, many of the independent tankers in the region will be members of InterTanko. What is the current state of play for those that have been stuck there for so long? Yeah, thanks. We represent about 60 % of the international tanker fleets. We've got about 103, 104 of our memberships stuck within the Gulf there. The seafarers on board there are managing. These are highly trained professional seafarers. They're robust individuals. You know, people who go to sea, you know, they do it because they want to do a job which is real and worthwhile and they choose to do that.

43:23So they're not wilting violets, but certainly we're getting to a stage now where they're seeing missile attacks, they're seeing impacts ashore, they're seeing other ships attacked, they're hearing about other seafarers. 10 seafarers have been killed during this conflict. So it has an effect upon them. It has an effect upon their mental welfare and on their physical well-being, of course, if they're attacked as well. Some 30-odd ships have been attacked during this time, and we have no assurance here of the level of protection. We certainly acknowledge the bravery of some of the US crews, the helicopter crews, etc., but we've got no real assurance that this project is going to be adding to the security level of the ships.

44:03And how is information getting to both those in charge leading the ships, but all of those workers on them? Yeah, I mean, they're getting a lot of information from the companies which employ them. And a lot of these companies are real family owned companies, three, four generations of ship owners. The crews are not just employees, they're part of the seafaring family of that company. And so it really means a lot. They're really looking after the welfare, so they're giving out the information. But unfortunately, seafarers have complete transparency of information. They get all their social media feeds, their families get all their media feeds, that comes into them.

44:44And so that has to have an effect upon them. On the physical welfare, they're getting the food, the water that's needed, etc. Most of the ships are dry, There's no alcohol, unlike bars you were just talking about. But most of the supplies are getting through. There's some inflation there, but really it's about the long-term welfare effects upon the seafarers. And, Sasha, how different is that, given the social media world that we're in right now, that the seafarers are actually able to try and... Well, they're able to see every post from Donald Trump as it is made. Does that change the prospects for the welfare of those workers, given they have constant access to the Internet?

45:35Yeah, like people assure, I hear from my members that information is important. People want that information. In the early days of the war, the lack of information, especially for seafarers on smaller ships with private owned companies, had quite a problem with not having that information. There is also not always Internet.

46:10The connections are not always good. But generally, people want that information. it's true that statements like Mr. Trump's statement from yesterday can cause more unrest but like Phil also mentioned the most people who go to sea are robust people, they don't get stressed easily, they have chosen a life at sea, they know they need to improvise, they know they need to adapt, they are very resilient but still this is a long time the member that i talked to yesterday was on board for 10 weeks um he was he had just gotten on board uh he was on one of the three last vessels entering the straits when it closed it's a long time it's a long time it takes its toll on mental health even for the most robust people how would you describe just that conversation you had with that that member that that worker on one of the ships what what was that like how was he he is all right for the moment but he's very aware that hostilities can come back any moment and he has been there when there were drones and bombs and missiles uh that he could hear when he was doing his six hour watch on the bridge every day.

47:38He has been there where when there was also absolutely no crew change possible, where the airports were closed, when they were stuck in a war that they hadn't chosen for, and that could come back any moment. And that's the mental stress. When it's not, when hostilities are not going on during the ceasefire like we've had those past weeks. There's also a sense of boredom. Seafarers have to do their daily watch and have to do their maintenance, but they find ways to be together as a team. Some of them have built swimming pools. Some of them do fanatical fishing, have barbecues. But all of that doesn't mean there's no mental stress, doesn't mean that there's always the tension that the war can resume.

48:44As we're sort of waking up to again this morning, the escalations. Phil, do the owners, the people running these ships, have long-term concerns now that there'll be a lot fewer workers willing to go on ships through this region? Yeah, one of our big concerns from the start has been about the welfare of the seafarers and getting seafarers on and off the ships in the region. The Philippines government just yesterday allowed crew changes to go on for the first time due to the length of the ceasefire. As Sasha was just saying there, we're getting to the point where we could have a resumption of the full-scale war again.

49:27which would be a terrible effect upon the seafarers themselves. On the wider recruitment issue, luckily, there is far more applicants into our industry than in our spaces at the moment. We're working to try and make sure there's more seabirds available for them so they can do their training and so on. And we're working with the unions on those kind of issues there. But getting the people on and off the ship has been a key issue there. Other people, yeah, please. No, thank you. We're just out of time this morning, but I really appreciate the updates from you both on what it's like for those who are working on those ships in the Strait of Hormuz and in the Gulf region at the moment.

50:08Phil Belcher, their Marine Director, Intertanko, Sasha Mayer, General Secretary at the Seafarers Trade Union, Nautilus International. John Walsh, just briefly, John, a reminder, for all we talk about ingredients and supply chains, is it a reminder that we sometimes do need, that there are so many people working in conditions that many of us would not want to be putting ourselves in to get the ingredients and food delivered at a price we want, at a time we want it. Yeah, I was listening to that lady talking, especially Sean, and describing so well the conditions on board. I mean, it's not a problem of a comparison, but I'm lucky enough to share ownership of a little boat.

50:52And it's, you know, when you do go out to see and you stay out to see it is very, very, I just, my heart went out to them because they really are in a very difficult situation. But, yeah, they're doing incredible work. And I told the story earlier about, for Bayou and me, the importance of date paste and how much of that comes from Iran that we didn't really fully understand earlier. And, you know, in just a very small way for our company, this knock on effects that the war is having, you know, a huge. And I, yeah, I'm very grateful and just hope that, you know, somehow they will find a solution, you know, sooner rather than later.

51:3285058, your messages this morning, please. Somebody getting in touch about the pubs we're discussing and closures. Forget alcohol. My daughter works in a well-known coffee chain. It's full every day with queuing out the door, taking thousands of pounds. This is the new pub. Right, let's just have a look at what's going on at eBay. If you use it, there could be big changes on the way if things progress the way some think they might. GameStop is an American chain of high street video game shops, and it's made a whopping$55.5 billion offer to buy eBay. So potentially trying to create a rival to Amazon, it seems.

52:09Adam Casely is the managing director at Vertex Distribution, which specialises in supporting brands in their move into e-commerce, so using platforms like eBay. Adam, good morning. Good morning, Scott. How has this ended up with a takeover bid from a high street video game brand? What do you think this is all about? Yeah, it feels wild that it's going the other way. I think from my perspective, GameStop is a really strong brand in the US, 1 ,600 bricks and mortar outlets. I think they've evolved from games to other sort of related products such as Pokemon. So definitely have the cash to do it.

52:45However, I think, you know, when the news broke yesterday, I definitely had a look. It appears they're going to be leveraging a lot of debt and obviously making announcements of job losses to ensure that it becomes a profitable model. So I think, you know, from my perspective, it feels very cautious right now. So maybe a long way to go. What is it, do you think, they're after? What is the environment that eBay is in right now that is catching their eye? I think, you know, still we look at other places like Amazon. eBay is still the number two marketplace in most countries globally, number one in some.

53:23So, you know, it gives the ability to leverage the GameStop brand, I assume, further outside of the US. And do you think eBay is fulfilling its potential at the moment, given what you sort of see what they do, you know, how long they've been doing it. And those other competitors, you know, the likes of Vinted and Depop that have popped up along the way as well, these second-hand shops. Does eBay have the purpose it once had? Yeah, I think it does. I work, you know, with brands every day. We've got two brands that are tracking now at seven figures. Well, one's already hit seven figures in the last 12 months.

54:02So eBay can definitely generate sales. It's certainly a place where its customers are really, really loyal. In terms of, you know, the other marketplaces that you mentioned there, I think eBay's done crazy actions to compete with those in terms of free listings and obviously huge sponsorship of programs such as Love Island. They've got a massive audience for those sort of platforms. So I think eBay's doing the right thing. I think it's just the forgotten, it's the forgotten marketplace when everyone focuses on how big Amazon is. but can still generate a significant value to your business. Adam, thank you for your time this morning.

54:39Adam Casey, Managing Director at Vertex Distribution that supports those brands and companies who are using e-commerce in very different ways. Zayna, John, thank you very much for your time this morning. It's been good chatting to you. Thank you to everybody who has been in touch about their pubs. The Oil Basin in Worcester, great little bar, always seems to be busy in the evening, make their own beer, sell a good range of other stuff as well says Alex thank you for those and plenty more lots more chat to come but that's it from wake up to money wake up to money from bbc 5 live that's it from wake up to money you can download the podcast every monday to friday so please make sure you subscribe we'd also love it if you left us a review when you do get in touch keep the conversation going anytime as well on social media use the hashtag wake up to money Welcome to the Wayne Rooney Show.

55:34Wayne Rooney, Kay Curd and me, Kelly Summers, break down the biggest stories in the Premier League and beyond. He's gone in quite quick, but he hasn't caught him high. I just don't think it's the red cards. Plus, we'll hear the funniest and most outrageous stories from Wayne's career. I was going into positions and doing things I shouldn't have really been doing, but you do it because you feel like you have to, and that helped us drive on and win the FA Cup. The Wayne Rooney Show. Watch your night, player. Listen on sound.

56:02May is Maytag month and Menards is passing the savings on to you. You need reliable and energy efficient appliances to conquer the day. Menards is your one-stop shop with appliances in stock and ready to take home today. Check out our top appliance brands, including KitchenAid, Maytag, Whirlpool, Amana, and Criterion. Save big money on Maytag appliances at Menards. And check out our weekly flyer on Menards.com for all the great deals happening now. Save big money at the Nards. I drive my bus in a busy city. That's why road safety is so important to me. I know that I must slow down and be extra careful when I make a wide turn.

56:43Buses need more room than cars. Everyone can help keep our roads safe. Next time you're driving, remember to give buses plenty of time and space to finish turning before driving ahead. Let's all plan to share the road safely. Learn how at www.sharetheroadsafely.gov.

From the publisher

The latest on the back-and-forth claims and denials between the US and Iran. Sean Farrington also looks into how an operation to guide ships out of the Strait of Hormuz could work. We look into what a potential $55.5bn takeover of eBay could mean. And Wake Up To Money visits the prison with more working inmates than any other.

More from Wake Up to Money

All 187 episodes
State of the StraitWake Up to Money · 53 min
Listen in VO