Latest news with #MattFarah
Yahoo
21 hours ago
- Automotive
- Yahoo
EV-Fueled Inferno Forces Crew To Abandon Ship Carrying 3,000 Cars Across Pacific
If fire departments on land have problems unleashing the torrent of water needed to extinguish a single burning EV, the crew of a ship doesn't stand a chance against hundreds of flaming lithium-ion batteries. A cargo ship carrying around 3,000 vehicles across the Pacific Ocean caught fire on Tuesday. The Morning Midas, a 600-foot cargo ship, was in the middle of a voyage from Yantai, China to Lazaro Cardenas, Mexico when the fire broke out. Zodiac Maritime, the ship's London-based operator, noted that smoke was first spotted on a deck carrying 800 electric vehicles. Once the blaze got out of control, the vessel's 22 crew members abandoned ship via lifeboat. With the ship roughly 300 southwest of Alaska, the U.S. Coast Guard dispatched aircrews and a cutter to respond to the emergency, according to Bloomberg. The evacuating crew on the lifeboat was transferred by the USCG to one of the three other merchants at the scene, helping to fight the fire. Zodiac Maritime wouldn't comment on which automaker's vehicles were burning to a crisp. This is an ongoing story, and we will update when we know more about the fate of the Morning Midas. Read more: These V6 Engines Put The LS1 V8 To Shame The inferno on Morning Midas will remind many of the Felicity Ace fire in 2022. The 650-foot cargo vessel burst into flames while carrying 4,000 cars built by Audi, Bentley, Lamborghini, Porsche and Volkswagen. Despite the hope of towing the ship to port once the fire was put out, Felicia Ace sank to the bottom of the Atlantic Ocean. The lithium-ion batteries fitted to the EV onboard kept the fire burning much longer than expected. One of the cars that ended up on the seafloor was a Porsche Boxster Spyder ordered by Matt Farah, host of The Smoking Tire. He was just glad that the ship's crew escaped unharmed. Fighting EV fires in the middle of an ocean is a tall task for any crew. It often takes tens of thousands of gallons of water to douse a burning lithium-ion battery. While it might seem straightforward to put a pump over the side and use saltwater to put out the flames, it's not a viable option. The salt in ocean water is electrically conductive and would fuel an ongoing blaze. Current guidelines for crews emphasize early detection and limiting water use by letting EVs burn while containing any potential spreading. We're going to need better ways to fight battery fires if electric vehicles are going to be far more numerous. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
The Drive
10-05-2025
- Automotive
- The Drive
Ford Mustang GTDs Could Cost More Than $600,000 When All Is Said and Done
The fastest American car to ever loop the Nürburgring might also be among the most expensive ones to do so. According to one would-be owner of the upcoming Ford Mustang GTD, what was originally billed as a $325,000 car may actually end up costing double that once everything is said and done. On a recent episode of The Smoking Tire podcast, the GTD breaking its own sub-seven-minute lap of the Green Hell became a topic of discussion. However, co-host Matt Farah had additional eye-popping news to share about the monster pony car. As he explains at the 59:35 mark, a collector he met during a motoring club event expressed some distress regarding his Mustang GTD order. 'He was very concerned about his GTD order because what he was told originally would be about a $300,000 car with the options and the track aero kit and all the things you get … the final number started with a six,' said Farah. He further quoted the buyer as saying, 'Shit, I might be tapped out …' When Ford opened the application process for the Mustang GTD last spring, the listed MSRP was $300,000. By the summer, that figure rose to $325,000. Nevertheless, more than 7,500 handraisers signed up for the 1,000 or so build slots (yup, the production number has moved, too). An 8% price increase was likely of little concern to the ultra-high net worth individuals who made GTD reservations. But a 100% price hike? That's a final bill discrepancy that would floor almost anyone. Chris Tsui To be fair, the Mustang GTD is a limited-production hi-po machine, so, of course, owners are going to want to make their particular purchase as exclusive as possible. For example, although the GTD is available in six standard colors, an 'Exclusive Extended Color Palette Lock-Out Option' does two things: open up thousands of other paint finishes, but also 'locks' that color exclusively for that particular owner. This means first-come, first-served dibs for your choice of finish, but not without paying a handsome fee for the privilege. I mean, if a two-tone roof on a Subaru Forester or Nissan Kicks can set you back $890 and $800, respectively, then a similar, proportional markup for the mighty GTD could easily be in the five figures. And that's just for a color option. Check the boxes on anything and everything else, and well, the dollar signs will add up. If this collector is to be believed, either the add-on parts and packages are ridiculously priced, or the cost of production has increased in unexpected ways—the Mustang GTD is built by Multimatic in Canada, after all. As Farah points out later in the podcast, though, 'Don't necessarily hold me to this. This is a conversation I had with one collector.' And, true, one person's purchase experience isn't representative of everyone else's. But who knows? Things costing way more than expected seems to be a persistent, universal experience these days. We wouldn't be surprised if other GTD owners are in a similar situation. In any case, Mustang GTD production is scheduled to start this spring. Are you a GTD allocation holder facing a bigger bill than expected? Get in touch here: tips@ Beverly Braga has enjoyed an eventful career as a Swiss Army knife, having held roles as an after-school teacher, film critic, PR manager, transcriber, and video producer – to name a few. She is currently a communications consultant and freelance writer whose work has appeared in numerous outlets covering automotive, entertainment, lifestyle, and food & beverage. Beverly grew up in Hawaii but roots for Washington, D.C., sports teams.
Yahoo
28-04-2025
- Business
- Yahoo
Tariffs muddy contrarian stock indicators flashing ‘buy' sign
(Bloomberg) — Usually, when sentiment toward US stocks turns this grim, volatility is elevated and analysts are slashing expectations for returns, it's a cue for risk-taking investors to pile in. Newsom Says California Is Now the World's Fourth-Biggest Economy Why Car YouTuber Matt Farah Is Fighting for Walkable Cities At Bryn Mawr, a Monumental Plaza Traces the Steps of Black History Los Angeles Downgraded to AA- by S&P Due to Budget Woes US Cricket Deepens Bet on Texas With HQ Shift From California But Wall Street, whipsawed by tariff policies that change on a dime and on edge over the potential for economic data to sour, is finding that playbook doesn't apply, even as the S&P 500 Index (^GSPC) has clawed back nearly half of its slide since a February peak. For HSBC Holdings Plc's Max Kettner, it's the first time in years he's setting aside the cues from the positioning and sentiment measures he typically monitors and discounting the odds of a rebound. 'I'd advise clients to disregard such signals at the current juncture, precisely because policy uncertainty is still so elevated and is unlikely to go away anytime soon,' the firm's chief multi-asset strategist said. Investors are left to contend with a new reality: generally reliable buying indicators have been broken by capricious policy announcements from the White House, making it nearly impossible to predict where stocks will go next. By one measure, investors are unprecedentedly pessimistic. Traditionally, such a view is a greenlight for dip-buyers to wade in. The closely watched American Association of Individual Investors survey has extended a streak of bearish readings of 50% or more to a record nine weeks, data from Bespoke Investment Group show. Since 1987 there have only been three other periods where sentiment has been that bad for even five straight weeks. The stock-market moves that followed were mixed. 'The news kept getting worse during those streaks,' said Bespoke Investment Group co-founder Paul Hickey. 'These days, investors remain concerned because of what seems to be a near certainty of economic weakness over the horizon.' At Bank of America Corp. (BAC), strategists led by Michael Hartnett view the recent advance as a pain trade, squeezing stocks higher. They're advising clients to sell into rallies and warning that the conditions are missing for a sustained climb, with trade policies likely to continue driving investors out of US equities as recession and inflation risks mount. A recent BofA survey found that fund managers are 'max bearish' on the macro-environment — pessimism that historically suggested an upcoming reversal. However, they are 'not quite max bearish on the market' based on their allocations, implying further room for stocks to drop. There are stronger buy signals. BMO Capital Markets points to the negative earnings revisions that have been a reliable precedent for gains in the past, along with investors' gloomy outlook, and risk aversion on retreating multiples and elevated volatility. Those indicators are all at levels that historically have seen an average return over the subsequent year of at least 10%, the firm estimates. For now, while retail investors have been buying, Wall Street remains skeptical. Institutional investors have stayed more or less neutral on the market, based on flows monitored by Deutsche Bank AG (DB), as they 'remain caught between mounting macro concerns and potential trade relents.' Until there's more clarity from the White House, the stock market is relegated to an uneasy limbo. 'You have to figure out how to price in tariffs and it's nearly impossible — if companies can't model it, how can investors forecast that?' said Dave Mazza, chief executive officer at Roundhill Investments. 'If you look at other technical indicators like put-to-call ratios or the percentage of stocks at 52-week lows, those aren't screaming 'buys' either. So it makes for a mixed picture where you can't point to one thing and say that's the bottom.' —With assistance from Matt Turner. As More Women Lift Weights, Gyms Might Never Be the Same Why US Men Think College Isn't Worth It Anymore Eight Charts Show Men Are Falling Behind, From Classrooms to Careers The Mastermind of the Yellowstone Universe Isn't Done Yet Healthy Sodas Like Poppi, Olipop Are Drawing PepsiCo's and Coca-Cola's Attention ©2025 Bloomberg L.P. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Sign in to access your portfolio
Yahoo
28-04-2025
- Business
- Yahoo
China Re-Exports Record Monthly Volume of LNG on Weak Demand
(Bloomberg) -- China has re-exported more than 280,000 tons of liquefied natural gas so far in April, the highest volume ever in a single month, according to ship-tracking data compiled by Bloomberg. Newsom Says California Is Now the World's Fourth-Biggest Economy Why Car YouTuber Matt Farah Is Fighting for Walkable Cities At Bryn Mawr, a Monumental Plaza Traces the Steps of Black History Los Angeles Downgraded to AA- by S&P Due to Budget Woes US Cricket Deepens Bet on Texas With HQ Shift From California That is equivalent to 7.7% of total imports for the month, the data shows. The high volume of re-exports is likely spurred by weak domestic demand, as a mild winter and robust inventories mean that China is not in any dire need for the super-chilled fuel. The nation may also benefit from higher prices abroad. Meanwhile, imports of the fuel are also set to fall this month, extending a slump in buying activity for a sixth month. Exporting shipments from Chinese ports is rare but the nation has leaned into the practice since November, with the volume increasing from the start of the year, according to Bloomberg data. Prior to November, the last time the country re-exported shipments was in January 2024. Kpler, an analytics firm that tracks ship data, shows that China exported about 160,000 tons in April. The resales could provide relief to buyers elsewhere, especially importers in Europe who are looking to refill inventories and replace the loss of Russian pipeline deliveries. Importers in China had earlier diverted most of their contracted LNG from the US to Europe in search of higher profits amid weak domestic demand and punitive tariffs on American fuel. More News: Gail is seeking to purchase an LNG cargo on a DES basis for June delivery to India Angola LNG offered a cargo on a DES basis for May delivery to locations including South America, Europe, the Middle East and South Asia Jera Co. is considering participating in a proposed liquefied natural gas export project in Alaska, as part of Japan's efforts to negotiate a trade deal with the US A total of 12 LNG ballast vessels are waiting near the Bintulu plant in Malaysia, according to ship-tracking data compiled by Bloomberg, as exports from the facility rise after an outage Drivers: European natural gas prices broadly held last week's decline as demand for supplies of tanker-borne fuel continued to waver in Asia, leaving more available for other buyers Estimated flows to all US export terminals were ~15.6 bcf/day on April 27, +0.5% w/w: BNEF China's 30-day moving average for LNG imports was 137k tons/day on April 24, 38% lower than this time last year, according to ship-tracking data compiled by Bloomberg European gas storage levels were ~38% full on April 26, compared with the five-year seasonal average of ~49% Buy tender: Sell tender: --With assistance from Kathy Chen. (Updates with LNG wrap details.) As More Women Lift Weights, Gyms Might Never Be the Same Why US Men Think College Isn't Worth It Anymore Eight Charts Show Men Are Falling Behind, From Classrooms to Careers The Mastermind of the Yellowstone Universe Isn't Done Yet Healthy Sodas Like Poppi, Olipop Are Drawing PepsiCo's and Coca-Cola's Attention ©2025 Bloomberg L.P.
Yahoo
28-04-2025
- Business
- Yahoo
Gold's bullish sentiment seen easing as record rally stumbles
(Bloomberg) — The gold (GC=F) rally has outshone other asset classes this month — even drawing some comparisons to bitcoin (BTC-USD) — as President Donald Trump's tariff war reshapes the global economic order, pushing investors to look for safety. Now, shifts in options positioning has some market watchers saying it's time to get cautious. Why Car YouTuber Matt Farah Is Fighting for Walkable Cities Newsom Says California Is Now the World's Fourth-Biggest Economy At Bryn Mawr, a Monumental Plaza Traces the Steps of Black History Los Angeles Downgraded to AA- by S&P Due to Budget Woes US Cricket Deepens Bet on Texas With HQ Shift From California As bullion hit a record last week, the trading of options on the SPDR Gold Shares ETF surpassed 1.3 million contracts, a level never reached before. At the same time, the cost of hedging against declines in the exchange-traded fund sits near its lowest level since August while implied volatility has surged, an unusual pattern. 'Gold and bitcoin have exhibited spot-up, vol-up dynamics, similar to Mag 7 in recent years,' said Tanvir Sandhu, Bloomberg Intelligence's chief global derivatives strategist. Call demand for the metal has surged, while the recent drop in the asset has made the implied volatility across strikes more balanced, he added. Also read: Strategist Who Called End of US Exceptionalism Sees No Recovery Gold has already lost more than 6% from its intraday peak last week on signs some trade tensions may be easing. Meanwhile, hedge fund managers have cut their net long futures and options positions on the metal to the lowest level in more than a year, the latest Commodity Futures Trading Commission data show. The recent risk-off period, catalyzed by tariffs and led by the theme that 'US Exceptionalism' is ending, has helped gold's strong outperformance versus other asset classes this month, including Treasuries and US equities. But for Barclays Plc strategists, the metal is running ahead of its fundamentals. In a note last week, they pointed out that the recent streak of monthly gold purchases is not unusual relative to the long-term trend of central banks buying the asset. The outperformance has also brought significant speculation, with calls on the gold ETF skyrocketing after Trump's 'Liberation Day,' leading to an inversion of skew, Barclays's Stefano Pascale noted. That, along with the drop in hedge fund positioning and the recent decline in bullion are reasons to be cautious — at least in the short term, the strategists said. 'We think that gold is going to come down,' Pascale said in an interview, adding that the commodity is 'dislocated' with respect to its 'fundamental drivers' of the US dollar and real rates. 'Technicals are starting to be a little bit stretched.' Garrett DeSimone, head quantitative analyst at OptionMetrics, sees similarities with bitcoin. And to him, both assets could rally further as their implied volatility and skew remain within the long-term historical ranges. 'From the options market perspective, upside and downside weights are pretty even,' he said. With Barclays's proprietary indicator showing that sentiment is still bullish on gold, the strategists recommend selling June calls to buy puts for a zero-cost risk reversal. 'Obviously, the trade is mostly directional, so for this trade to really work gold has to come down,' said Pascale. (Updates with Monday move in fourth paragraph) As More Women Lift Weights, Gyms Might Never Be the Same Why US Men Think College Isn't Worth It Anymore Eight Charts Show Men Are Falling Behind, From Classrooms to Careers The Mastermind of the Yellowstone Universe Isn't Done Yet Healthy Sodas Like Poppi, Olipop Are Drawing PepsiCo's and Coca-Cola's Attention ©2025 Bloomberg L.P.
