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Published by Capital Client Group, Inc. Good morning from the Financial Times.
Today is Thursday, May 7th, and this is your FT News Briefing.
American fuel is making its way around the globe, and hedge funds are really enjoying last month's tech stock rally.
Plus luxury conglomerate LVMH is trying to declutter its wardrobe.
They own 75 different brands spanning hotels and fashion brands.
They own media houses and they are now sort of making hard decisions about what actually still fits.
I'm Mark Filipino and here's the news you need to start your day.
The U.S.
Is exporting more fuel than ever.
It sent over 8.2 million barrels of refined fuels overseas every day last week.
That includes gasoline, diesel and jet fuel.
And it's a 20% increase from the same time last year, according to U.S. Energy data.
It's to make up for the shortages caused by the Iran war.
Asia and Europe have been hit especially hard.
Everyone's holding their breath as Tehran considers a peace proposal from the U.S.
But things are on shaky ground.
Israel struck Beirut on Wednesday despite a ceasefire,