Iran is in the grip of its most intense unrest in years with protests spreading across the country and Donald Trump vowing that the US will defend Iranian protesters - prompting Tehran to accuse him of psychological warfare. 

What began in Tehran’s bazaar over soaring prices and a collapsing currency has spread across 27 provinces, with inflation above 50% and a government struggling to contain anger over corruption and falling living standards.

Human rights groups say dozens have been killed and more than 1000 arrested, as police move into universities and the judiciary warns that any period of concessions is over. 

So who will back down, the protesters or the regime? And what does this mean for the future of the Islamic Republic of Iran and it’s supreme leader Ayatollah Ali Khamenei?

On this episode of The Fourcast, Matt Frei is joined by Professor Ali Ansari, a leading voice on Iran’s modern history, and Doctor Sanam Vakil, director of Director, Middle East and North Africa Programme at Chatham house.

Venezuela has long been a country of contradictions, sitting on the world’s largest oil reserves while its economy collapsed around it. Now Donald Trump’s removal of Nicolás Maduro and Washington’s effective control of the country has pushed Venezuela back to the centre of global politics.

At stake is not only a vast energy prize but a bigger shift in how nations compete for resources,, from crude oil to the critical minerals shaping the future of technology.

To unpack what Trump’s move really means, what is happening inside Venezuela’s broken energy sector, and how this connects to a wider global race, Cathy Newman is joined by economics correspondent Helia Ebrahimi and Henry Sanderson, journalist and RUSI associate fellow.

What will 2026 look like around the globe? Will the second phase of the ceasefire in Gaza ever happen, will Ukraine and Russia agree to Donald Trump's peace deal, and what about the World Cup?

To explore what and who will shape the world in 2026, on this final Fourcast episode of 2025, Krishnan Guru-Murthy is joined by two of Channel 4 News' most experienced international journalists who have seen quite a few power shifts and peace deals in their time: Lindsey Hilsum and Jonathan Rugman.

Phase one of Donald Trump’s ceasefire in Gaza appears to be holding, but it's precarious as hundreds of Gazans have been killed since it began and hundreds of thousands remain homeless and displaced.The Israeli defence force still occupies much of the territory and Hamas have re-established themselves in some areas.So is phase two - with its transitional authority and international peace force looking any way possible?Benjamin Netanyahu says it's close, but what's the view of the Palestinians?One person who has reflected their concerns since the current conflict began is Francesca Albanese, the UN's special rapporteur on the Palestinian territories. She has been an outspoken critic of Israel's actions in Gaza, accusing the government of genocide. It's made her powerful enemies including the Trump administration who have sanctioned her while the Israeli government accuse her of bias and have designated her persona non grata.She joined Krishnan Guru Murthy for this episode of The Fourcast.

As Ukraine prepares to present a revised peace proposal to Donald Trump, Volodymyr Zelenskyy has said he is prepared to hold elections in months - a long-standing demand from Moscow.Meanwhile European leaders appear to be edging closer to seizing frozen Russian assets to fund Ukraine.

So is the peace process entering a decisive phase - or is this just another round of political theatre?

On this episode of The Fourcast, Krishnan Guru-Murthy speaks to the Russian ambassador to the UK Andrei Kelin and asks him what does the Kremlin actually want from a peace deal? Can Vladimir Putin really be trusted in a negotiation? And how would Russia respond if Europe takes its frozen billions?

China is in an age of rapid technology development with AI, robots and drones - and many fear this relentless progress, and Xi Jinping’s desire to reabsorb Taiwan, will bring it into direct conflict with the United States.

But is China’s rise as inevitable and smooth as its leaders want it to be?

Our International Editor Lindsey Hilsum has returned from a trip to China where she was Channel 4 News' correspondent for years.

She was wowed by technological progress - but also found a younger generation exhausted and overwhelmed by political pressure, depression and burnout.

On this episode of The Fourcast, Lindsey and Matt Frei were joined by economist Dan Wang, author of Breakneck: China's Quest to Engineer the Future, who argues that China’s system has unique strengths - and dangerous weaknesses - in the race for technological supremacy.

The blaze that engulfed seven high-rise residential buildings in Hong Kong’s Tai Po district was the deadliest the city has seen in over 70 years. At least 156 people have died, 30 are still missing, while 15 have been arrested for alleged manslaughter. Grief has overwhelmed the city and fuelled an uncontrollable anger towards those in power.

Today - almost a week after the fire - we ask how the tragedy unfolded, why Hong Kong is still enraged and what it tells us about the city that once prided itself on transparency and democracy.

Joining Matt Frei from Hong Kong are Tom Grundy, founder and editor of the local media Hong Kong Free Press, and Selina Cheng, chair of the Hong Kong Journalists Association.

For months after Vladimir Putin’s fullscale invasion of Ukraine, Western leaders predicted Russia’s economy was on the brink of collapse under sanctions - and yet it didn’t.

It transformed into a wartime economy, fuelled by military production, redirected trade routes, and deeper ties with China and India.

But now there are signs this may be changing - with industrial output slowing, inflation rising, and severe labour shortages as hundreds of thousands of working-age men have either died, emigrated or been mobilised.

And Western leaders are once again questioning how long Putin can bankroll his war machine.

So is Russia’s economy finally starting to buckle - or is this still wishful thinking from Ukraine’s allies?

On this episode of The Fourcast, Krishnan Guru-Murthy is joined by Arkady Ostrovsky, Russia editor at The Economist, and Elina Ribakova, one of the world’s leading experts on sanctions and Russian macro-economics.

As Rachel Reeves prepares to deliver the budget on Wednesday, she faces the political nightmare of having to come back for more tax, having said she wouldn't and she's already made it clear that whatever she does the burden will fall on all of us, not just the rich minority - but the left and the Greens are demanding a wealth tax, while the right and Reform are demanding welfare cuts and tax cuts.

Voters are disillusioned, inflation is stubborn, services are still struggling and faith in the political centre is evaporating.

So how does the chancellor land her budget without causing a political crisis for Labour or a financial crisis on the bond markets?

On this episode of The Fourcast, Krishnan-Guru-Murthy was joined by Green Party leader Zack Polanski, Labour MP Rosie Wrighting, one of the new intake last year, and Rupert Harrison, a former advisor to George Osborne in the treasury and now at the US investment managers PIMCO.

With the budget just days away, Rachel Reeves is facing yet another black hole in the public finances - after ditching plans to raise income tax, it’s been widely reported that the government will go for a “smorgasboard” of tax rises and spending cuts to plug the gap, but critics on the left and right say it won’t address the deeper structural rot in Britain’s economy. 

So on this episode of The Fourcast, Krishnan Guru-Murthy is joined by two economists with radically different visions for how to turn the country around. 

James Meadway, host of the Macrodose podcast and former economic adviser to John McDonnell, argues inequality is choking growth and that only a major reset of wealth, investment and a green industrial strategy can revive the UK. 

Catherine McBride served on the last government’s Trade and Agricultural Commission and she thinks the real problem is over-regulation, high taxes and net-zero. 

And Channel 4 News’ economics correspondent Helia Ebrahimi also joined the pod to cut through the political noise - and test whether any of their ideas actually add up.