Latest news with #CarlHarris
Telegraph
05-05-2025
- Automotive
- Telegraph
British Superbikes event at Oulton Park suspended after horrific 11-bike accident
The opening round of the British Superbikes Championship has been suspended after a horrifying 11-bike accident which left one engulfed in fire. The season-opening meeting at Oulton Park was delayed after at least one rider appeared to be badly injured at the start of the Supersport Feature race, one of the main support races to the Superbike Championship. A total of 11 riders were involved, leaving at least one bike on fire, sparking an emergency response at the track. The Bank Holiday meeting in Cheshire was immediately suspended after a red flag brought the race to a stop on the first lap. Racegoers at the track reported the arrival of a medical helicopter and several ambulances shortly afterwards. An official BSB update said: 'Following an incident in the British Supersport Championship race the event is currently suspended.' Race organisers also confirmed that the accident brought down riders Carl Harris, Shane Richardson, Corey Tinker, Cameron Hall, Freddie Barnes, Owen Jenner, George Edwards, Morgan McLaren-Wood, Tom Tunstall, Lewis Jones and Max Morgan. No further official details were released although the event was being covered live on TNT Sports. 'A little earlier on, after an incident involving multiple riders in the British Supersport, the red flags came out,' the commentator said. 'You can see the marshals still working here at the exit of turn one. The information that we have at the moment is that the Supersport teams have been asked to return to the pits and paddock. The event has been suspended, with further information to follow. Once we have that information, we will let you know.' Elsewhere, Leon Haslam had returned to winning ways in the Bennetts British Superbike Championship for the first time since 2018 to celebrate his first victory with the Moto Rapido Ducati Racing team. He held off pressure from both Bradley Ray and Glenn Irwin on the final lap. 'It's so good. Yesterday I was a little bit nervous to be honest with you, Wilf was saying bring it home, take it easy and by the time I'd got into second yesterday, Brad was long gone' said Haslam. 'Today I thought I needed to go hard from the start and I managed to make an early move, catch him down, and I didn't expect to do that lap time.'
Yahoo
20-02-2025
- Business
- Yahoo
US Homebuilder Sentiment Drops to Five-Month Low on Tariff Costs
(Bloomberg) -- Confidence among US homebuilders dropped in February to the lowest since before President Donald Trump took office as high mortgage rates and concern over tariffs sapped much of initial optimism for the new presidential administration. Why Barcelona Bought the Building That Symbolizes Its Housing Crisis Por qué Barcelona compró el edificio que simboliza su crisis inmobiliaria Trump Child Refugee Agency Shares Data With Immigration Enforcers A Filmmaker's Surreal Journey Into His Own Private Winnipeg A gauge of housing market conditions from the National Association of Home Builders and Wells Fargo fell 5 points to 42, the lowest since September. The figure was below all estimates in a Bloomberg survey of economists. Reflecting growing concerns, a component of the NAHB's overall index measuring expectations for the next six months fell 13 points to 46 this month, its biggest drop since the start of the pandemic. Meantime, components measuring present sales and traffic of prospective buyers also declined. 'While builders hold out hope for pro-development policies, particularly for regulatory reform, policy uncertainty and cost factors created a reset for 2025 expectations,' NAHB Chairman Carl Harris, a custom home builder from Wichita, Kansas, said in a prepared statement. Builder confidence had surged following Trump's election win in November as contractors looked forward to less regulation and the prospect of more economic growth. However, home financing costs stuck around 7% in recent months have sapped demand and sent builder stocks tumbling. Meantime, the administration's plans for tariffs on Canada and Mexico, which are delayed until at least March, and a 10% levy already in effect on Chinese goods threaten to raise prices in an industry already struggling to retain buyers. 'With 32% of appliances and 30% of softwood lumber coming from international trade, uncertainty over the scale and scope of tariffs has builders further concerned about costs,' NAHB Chief Economist Robert Dietz said in a prepared statement. Given home prices are still near record highs across the country and mortgage rates will probably stay elevated for the foreseeable future, incentives may be losing their power with such a limited pool of eligible buyers. The shares of builders who cut prices or used sales incentives both declined in February, NAHB said. Builder confidence fell in all four US regions, including the biggest drop in the Northeast since April 2020. The federal government will release January data on new residential construction on Wednesday. --With assistance from Chris Middleton. (Updates with chart) Before DeepSeek Blew Up, Chatbot Arena Announced Its Arrival The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory The Startup That Stepped In When the Baby Formula Supply Chain Broke The Unicorn Boom Is Over, and Startups Are Getting Desperate Japan Perfected 7-Eleven. Why Can't the US Get It Right? ©2025 Bloomberg L.P. Sign in to access your portfolio
NBC News
18-02-2025
- Business
- NBC News
U.S. homebuilders raise alarm over tariffs as sentiment falls to 5-month low
Sentiment among the nation's single-family homebuilders dropped to the lowest level in five months in February, largely due to concern over tariffs, which would raise their costs significantly. The National Association of Home Builders' Housing Market Index (HMI) dropped a sharp 5 points from January to a reading of 42. Anything below 50 is considered negative sentiment. Last February, the index stood at 48. 'While builders hold out hope for pro-development policies, particularly for regulatory reform, policy uncertainty and cost factors created a reset for 2025 expectations in the most recent HMI,' said NAHB Chairman Carl Harris, a home builder from Wichita, Kansas. Of the index's three components, current sales conditions fell 4 points to 46, buyer traffic fell 3 points to 29 and sales expectations in the next six months plunged 13 points to 46. That last component hit its lowest level since December 2023. Builders are already facing elevated mortgage rates. The average rate on the 30-year fixed was over 7% for January and February after earlier being in the 6% range. Home prices are also higher than they were a year ago, weakening affordability further. While President Donald Trump's tariffs on Canada and Mexico, originally proposed to take effect in early February, were delayed roughly a month, builders are still expecting higher costs. 'With 32% of appliances and 30% of softwood lumber coming from international trade, uncertainty over the scale and scope of tariffs has builders further concerned about costs,' said NAHB chief economist Robert Dietz. Homebuilder sentiment had been gaining steadily since August on the expectation of lower mortgage rates and, as the builders noted, potential pro-development policies. Single-family housing starts are trending lower than they were a year ago, despite a lean supply of existing homes for sale. The drop in builder sentiment, coming right before the all-important spring market, signals potentially even less supply in the market. Several homebuilders have noted the pullback in buyer demand in recent earnings reports. 'Despite Federal Reserve actions to lower short-term interest rates, mortgage interest rates remained elevated in the fourth quarter, which impacted buyer demand as homebuyers continue to face affordability challenges,' said Ryan Marshall, CEO of PulteGroup, in its fourth-quarter earnings release. The share of builders lowering prices dropped to 26% in February, down from 30% in January and the lowest share since May 2024. Other sales incentives also fell. This may be because incentives are becoming less effective at attracting buyers, since high prices and high rates have reduced the pool of buyers for whom these benefits move the needle, according to the NAHB. When a buyer is solidly priced out, no incentive helps, and with rates remaining higher, the pool of marginal buyers may be shrinking. Offering incentives to buyers who would buy regardless of price or rates is of diminishing value for builders.
Yahoo
18-02-2025
- Business
- Yahoo
Homebuilders Feel Chill of Tariffs in February
Homebuilder sentiment declined in February as tariff proposals added to cost concerns in a market already struggling with affordability concerns. The survey results showed a steep drop in sales expectations as cost concerns mounted. Homebuilder opinion changed in the monthly survey as tariff proposals were announced and later put on proposals lowered homebuilder optimism in February as worries about import taxes added pressure to a housing market already struggling with unaffordability. A closely watched survey of the home building industry showed that sentiment declined five points to 42 in January, the lowest level in five months. The dip in the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) follows recent moves by President Donald Trump to propose tariffs on trading partners that could impact the price of building materials. 'While builders hold out hope for pro-development policies, particularly for regulatory reform, policy uncertainty and cost factors created a reset for 2025 expectations in the most recent HMI,' said NAHB Chairman Carl Harris, a home builder from Wichita, Kan. Sales expectations for the next six months fell 13 points to their lowest levels since December 2023, while home builders also experienced declines in current sale conditions and prospective buyer traffic, the survey showed. 'With 32% of appliances and 30% of softwood lumber coming from international trade, uncertainty over the scale and scope of tariffs has builders further concerned about costs,' said NAHB Chief Economist Robert Dietz. While Trump paused the blanket tariffs on the U.S.'s North American neighbors, he announced a 25% tariff on aluminum and steel, which housing officials have also said could elevate building costs. The tariffs threaten to add to rising costs in the housing market that have made it more unaffordable for home buyers, including elevated mortgage rates and rising home prices. Read the original article on Investopedia
