PENSIONERS have been urged by the Department for Work and Pensions to check their eligibility for Pension Credit, which could lead them to other key benefits such as the Warm Home Discount. Successful applicants could receive £140 off their electricity bill during the winter months, helping to reduce the costs of heating their home during the coldest time of the year.
Britons should brace for a hard winter as energy prices look set to surge after a hike in wholesale gas prices, experts say. Energy analysts warn that regulator Ofgem may be forced to increase the energy cap by more than £100, pushing up bills for millions, many of whom are already struggling financially after the pandemic. The energy cap was designed to keep a lid on prices but this would mark the second big increase this year.
In April, Ofgem lifted the price cap by £96 to £1,138 for 11 million default tariff customers, taking it back to pre-pandemic levels. Four million households on pre-payment meters saw the cap jump £87 to £1,156.
The next change is expected to be announced on August 7 and will come into force on October 1.
Dr Craig Lowrey, senior consultant at energy analysts Cornwall Insight, said rising wholesale energy and commodity prices are set to increase the cap by at least another £100.
He said: “That will push up this winter’s default tariff price cap to around £1,250 per year for a typical dual fuel direct debit customer.”
Wholesale energy prices collapsed during last year’s global lockdowns, but demand has now rebounded as the economy reopens.
Producers face higher costs as they invest in clean energy, while the cold winter across Europe and low levels of gas in storage facilities has also driven up gas prices.
Older people are likely to be hit hardest because they are less likely to switch energy supplier, with four in 10 aged 55 and over refusing to switch because they like their provider, according to a study by green energy supplier Pure Planet.
Simon Francis, co-ordinator of the End Fuel Poverty Coalition, said more than four million people are already behind on their household bills.
He said: “The increase will be disastrous. The choice between heating or eating will become even starker.”
He said living in cold damp homes has health risks, and called on the Government to provide emergency financial support.
Higher energy costs will also hit small businesses as they battle to recover from repeated lockdowns, said Martin McTague, national vice chair of the Federation of Small Businesses.
And Will Owen of comparison site Uswitch.com, said a higher price cap in October will be bad timing – arriving as demand rises: “With many still working from home, usage remains high. The rising price cap may trap households on default tariffs into a vicious cycle of debt.”
The offer means Halifax customers who open a new Ultimate Reward Current Account from July 7 may be able to get a £100 payment. Switchers will need to open the new account through the Current Account Switch Service, and switch from a bank account held with another provider.
Martin Turner, Head of Personal Current Accounts, Halifax, said: “We’re excited to be re-introducing our £100 switching offer, this time for new customers of our Ultimate Reward Current Account.
“The account offers fantastic benefits and rewards – including insurance cover, lifestyle benefits, cashback and more.
“The Current Account Switching Service makes it really easy to join us, transferring direct debits, standing orders and salary commitments, to your new account within seven days.”
New Ultimate Reward account holders will also benefit from a six-month fee free overdraft.
The switching process takes seven days, and Halifax said customers will receive their £100 within that time.
To qualify for the £100 offer, a new Ultimate Reward Current Account must be opened, and the customer must switch from a bank account held with another bank via the Current Account Switch Service.
A new Ultimate Reward Current Account must be applied for – a person cannot change their existing Halifax Current Account or Reward Current Account to an Ultimate Reward Current Account.
This must be opened between July 7 and August 3, and the switch service must be started by August 3, 2021.
Furthermore, a person won’t be eligible if, since April 2020, they’ve received a switching offer for switching to a Reward Current Account or Ultimate Reward Current Account.
People switching to a joint account, where one of the parties to the join account has already received a switching incentive since April 2020, also won’t qualify.
Furthermore, a person won’t qualify if the bank they’re switching from doesn’t participate in the Current Account Switch Service.
Only one offer is available per customer, and joint accounts will only be eligible for one payment.
The volatility of the cryptocurrency space was on full display again on Monday as several altcoins experienced gigantic price rebounds following the market crash of the past week or so.
Two altcoins, in particular, doubled in value in just over 12 hours leading into Monday morning as Polygon (MATIC) and Maker (MKR) recorded over 100% growth amid a strong market bounce.
Polygon had climbed from a valuation of $ 0.75 late on Sunday afternoon to a peak of $ 1.51 by early Monday morning — marking 101% gains in less than a day.
The rapid rebound comes shortly after Polygon suffered 72% losses in less than a week as it fell from a valuation of $ 2.68 to $ 0.74 since Tuesday.
A similar pattern was observed in the governance token of the MakerDAO protocol, Maker, on Monday. The coin price had risen from $ 1,835 on Sunday to $ 3,694 by Monday morning, equating to a 101% increase.
Like Polygon, Maker’s miraculous pump follows a 71% decline since the coin hit an all-time high in early May, and a 63% decline in the past week alone.
The intensity of the rebounds experienced by coins on the day appeared to be tied to the severity of their recent market crashes. As such, the altcoin market proved to be the ripest venue for day traders on Monday, many of whom could feasibly have doubled their money between supper and breakfast.
Bitcoin (BTC) and Ether (ETH) were subject to less dramatic rebounds, with the foremost cryptocurrencies gaining 17% and 32%, respectively. Both coins experienced less volatility throughout the duration of the recent market pump, and their subsequent losses proved to be less severe, with BTC and ETH losing 51% and 60%, respectively, since their recent all-time highs.
Many traders rejoice in such volatility, yet the harsh fact remains that day trading is a full-time job, and according to some estimates, as little as 1% of day traders actually turn a profit.
SAN DIEGO — The San Diego Padres sit just one game out of first place in the NL West.
And, soon, you’ll be able to see them from a packed Petco Park.
With California set to reopen June 15, the ballclub announced shortly after the state’s update Friday that they plan to have Petco Park at 100% capacity for the team’s 5:40 p.m. matchup on June 17 against the Cincinnati Reds.
The Padres are calling the festivities “San Diego’s Opening Day.”
The team announced that also beginning on June 17, all Padres Season Ticket Members will return to their regular seat locations.
Single-game tickets for San Diego’s Opening Series and the remainder of the 2021 Padres home season will go on sale to the general public on Friday, June 4.
WATCH: Here’s how San Diego Padres Opening Day looked in and outside Petco Park
After foreign holidays have been off the cards for quite some time, the Government’s traffic light travel system details what countries holidaymakers can jet off to. Portugal is one of the only tourist hotspots on the list, but the country warns over its strict safety rules that travellers must adhere to.
“You may be exempt from using a face mask both indoors and out on medical grounds. You will have to show a declaration from your doctor as evidence that you have a health condition that prevents you from wearing a face covering.
“You should observe strict social distancing and limit the time you spend in common areas in enclosed spaces.”
The country is also urging people to stay away from over holidaymakers as well as asking people to maintain good hygiene and wash their hands regularly.
If rules are not adhered to, Britons could face a fine of £100.
Health authorities have also said that people’s temperatures may be taken on access to enclosed spaces.
Portuguese cabinet office minister Mariana Vieira da Silva recently shared the exact locations of where a face covering is required.
During a press conference, she said: “Just like last year, it is not necessary to wear a mask on the beach and it is necessary to wear a mask in the accesses to the beach, in the accesses to the cafes and restaurants, in the restaurants and in the bathrooms.
“These are the same rules that were in place a year ago.”
Although countries on the “green” list mean holidaymakers can jet off for a well-needed break, experts are warning against foreign travel this year.
It comes after the detected Indian variant is thought to spread more rapidly than others.
One leading University of Oxford professor has said that foreign holidays are “not a good idea” and people should visit places like Cornwall and Bournemouth instead.
This was echoed by Health Secretary Matt Hancock, who said people should not go to “amber” countries like Italy, Spain and Greece unless the visit was “absolutely necessary”.
“Tracking with the impressive growth of the crypto market this year and increased participation from institutional investors, we have more than tripled our crypto under custody since the beginning of 2021.”
Gemini works with large asset managers including BlockFi, Blockchange, CoinList, CI Global Asset Management, DAiM, BTG Pactual, Caruso, Eaglebrook Advisors, and WealthSimple.
The New York-based company was founded in 2014 by Cameron and Tyler Winklevoss. In the lead up to rival exchange Coinbase’s April 14 direct listing on the Nasdaq, the pair told Bloomberg they were “considering” taking Gemini public too.
Veteran Wall Street analyst and New Constructs CEO, David Trainer, said in a note to clients on Tuesday that he expects Coinbase’s share price to decline to $ 100 or even lower due to increasing competition. Trainer suggested that Coinbase is currently overvalued, noting its current valuation implies it will exceed the combined annual revenue of Intercontinental Exchange and Nasdaq.
“Investors should expect the stock to continue to underperform, as shares could fall to $ 100 or less as it becomes clear the company is unlikely to meet the future profit expectations baked into the stock price.”
Coinbase is expected to report first quarter earnings of $ 3.07 per share on revenue of $ 1.82 billion on Thursday. Trainer said that even if it exceeded expectations, this would only attract more competitors and drive down future revenues.
“Coinbase will likely not be able to sustain blowout earnings going forward as competition enters the market,” he said.
In April, Trainer warned the mooted $ 100B valuation for Coinbase was far too high due to stiffening competition from Gemini, Bitstamp, Kraken and Binance.
Figures released in March indicated Coinbase Custody had more than $ 90B assets under custody by the end of 2020.
The EOS price is in double-digits for the first time since mid-2018 after a parabolic advance that began back in March.
According to data from Coingecko, the 20th-ranked crypto by market capitalization is currently sitting above $ 11.50, delivering close to 100% gains over the last three days.
First, the current EOS upward advance is occurring at the intersection of two unique price trends. On the one hand, the EOS/Tether (USDT) trading pair is at the top of the range for 2021 while the token price against Bitcoin (BTC) fell to its lowest level in three years back in early March.
As of the time of writing, the EOS/BTC price action chart has broken an almost three-year downtrend signaling the possibility for significant upward movement.
Secondly, with Bitcoin dominance continuing to slide amid massive altcoin gains, the market cycle appears to have large-cap tokens on the ascendency. Indeed, major alts like Bitcoin Cash (BCH), Ethereum Classic (ETC), Chainlink (LINK), and Polkadot (DOT) have experienced rapid price surges.
These altcoin gains have been further boosted by Ether (ETH) setting new all-time highs
EOS is following along with the pattern, gaining enough momentum to show significant price action strength against Bitcoin. As of the time of writing, the EOS/BTC trading pair is up 76% in the last 24-hour trading period.
A third likely explanation for the EOS breakout can be attributed to the recent staking rewards announcement. As previously reported by Cointelegraph, the EOS community is considering a proposal to increase staking rewards.
The recommendation for increasing the staking reward was based on a report commissioned by Block.one. The proposal could be the next major development on the EOS network after the PowerUp model that allows users to pay a one-time transaction fee for 24 hours.
(Reuters) -Billionaire entrepreneur Elon Musk on Thursday offered inventors $ 100 million in prize money to develop ways to fight global warming by removing carbon dioxide from the atmosphere or ocean.
“Right now we’ve only got one planet, said Musk, CEO of electric carmaker Tesla (NASDAQ:) Inc. “Even a 0.1% chance of disaster — why run that risk? That’s crazy!”
In January, Musk announced his intention to offer $ 100 million in prizes and set out the contest rules on Thursday, Earth Day. What organizers called the “largest incentive prize in history” will last for four years through Earth Day, 2025.
“I’m open to increasing the prize size, too, over time,” Musk said on a video feed that showed him outdoors, barefoot in a black shirt with a forest in the background.
Carbon capture and storage has drawn growing interest as a warming climate has melted glaciers, intensified tropical storms and resulted in “sunny day flooding” of more and more coastal areas. While countries are working to reduce emissions, scientists say carbon removal technology will also be crucial to the goal of getting emissions to net zero by 2050.
“I don’t think we are currently doomed,” Musk said. “If we keep going, complacent, there is some risk of non linear climate change.”
Carbon capture projects have already drawn backing from Silicon Valley startups, public officials worried about the slow pace of cutting emissions, and emitters including oil companies seeking to offset their climate impacts.
The technology is not yet commercially viable. Removing carbon costs more than $ 300 per metric tonne in a world that each year emits greenhouse gases equivalent to about 50 billion tonnes of carbon dioxide. By 2050, some 10 billion tonnes of carbon capture may be needed, by some estimates.
“I think this is one of those things that is going to take a while to figure out what the right solution is,” Musk said. “And especially to figure out what the best economics are for CO2 removal.”
Musk’s $ 100 million XPRIZE Carbon Removal is aimed at finding a viable solution for taking 1,000 tonnes out of the atmosphere annually, with potential to scale up dramatically.
Contenders must sequester carbon for at least a hundred years. Organizers said they will get feedback by mid May and turn guidelines into rules.
Musk has built a reputation as an industrialist focused on environmentalism, turning electric car maker Tesla into the world’s most valuable vehicle company and expanding into solar power so customers can charge their rides carbon-free. He had conversations about the prize with Peter Diamandis, founder and executive chairman of the XPRIZE Foundation.
Contest entrants should “show a sustainable path to achieving low cost at gigatonne scale,” organizers XPRIZE has said on its website.
There are plenty of Silicon Valley startups eager to compete. Venture capital-backed carbon removal companies raised $ 336.5 million last year, according to PitchBook.
On Monday, XPRIZE announced two winners of a separate, $ 20 million prize to develop technologies to covert emissions from power plants into concrete. One is CarbonCure Technologies, based in Canada and backed by separate funds by Bill Gates, Amazon.com Inc (NASDAQ:) and others.
The United Nations has said carbon removal technology is needed to limit increase in planetary warming and avoid catastrophic climate impacts. But some environmentalists have argued that focusing on carbon removal reflects a lack of resolve to end the use of fossil fuels.