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Kim Kardashian’s Skims hits $5bn valuation
Osmond ChiaBusiness reporter Getty Images Skims, the shapewear brand co-founded by celebrity and entrepreneur Kim Kardashian, says it has raised $225m (£171.5m) of new funding, bringing its value to $5bn. The company says it plans to use the money from investors, including an arm of Wall Street banking giant Goldman Sachs, to open more shops…
Canadas auto industry plan signals latest pivot away from US
The United States-Canada-Mexico (USMCA) free trade agreement is up for review this year. But the agreement’s original purpose, of removing tariffs across North America, was no longer the current objective of the US administration, Carney said at a car plant in Toronto on Thursday. “Their approach has changed.”
Disney+ cancellations soar after Jimmy Kimmel suspension
Danielle KayeBusiness reporter Reuters Comedian Jimmy Kimmel was temporarily suspended last month Disney+ and Hulu cancellation rates doubled in September after TV host Jimmy Kimmel was briefly taken off air, suggesting the move may have hurt the entertainment giant financially. Data from analytics firm Antenna shows Disney+’s so-called churn rate – the percentage of subscribers…
New car sales hit 2m, but EV discounts cant go on, warns SMMT
Theo LeggettBusiness Correspondent Getty Images Government discounts for electric vehicles are “unsustainable”, a major motoring group has warned, as the number of new cars registered in the UK exceeded two million last year for the first time since the pandemic. Nearly 500,000 of the new cars sold were electric, according to new figures from the…
US inflation rate eases to 3.5% as gasoline prices fall
Inflation in the US eased last month as the cost of energy and filling up at the pumps fell, official figures show. Prices rose 3.5% in the year to June, according to the Bureau of Labor Statistics (BLS), down from 4.2% recorded in May. Gasoline prices decreased 9.7% last month, but are still much more…
