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Oil market faces super glut as supply surge hits prices
Posted onTrial $1 for 4 weeks Then $75 per month. Complete digital access to quality FT journalism on any device. Cancel or change your plan anytime during your trial. Global news & analysis Expert opinion FT App on Android & iOS FT Edit: Access on iOS and web FirstFT: the day’s biggest stories 20+ curated newsletters…
Oil slides after US-Iran ceasefire deal to open Strait of Hormuz
Posted onIn a social media post on Tuesday evening, Trump said: “I agree to suspend the bombing and attack of Iran for a period of two weeks… subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz”.
Why luxury carmakers are now building glitzy skyscrapers
Posted onSameer HashmiBusiness reporter, Dubai Binghatti Properties The Bugatti Residences building in Dubai is currently under construction Bugatti is synonymous with high-performance, ultra-expensive supercars. But now the luxury French brand is entering a very different kind of race – not on the track, but in the skyline. In the heart of Dubai, in the United Arab…
Kim Kardashian’s Skims hits $5bn valuation
Posted onOsmond 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…
