Bitcoin slides below $90,000 amid crypto selloff; Tesla sales almost halve across Europe – business live
Bitcoin has tumbled below $90,000 to hit the lowest since mid-November, as rising volatility hits crypto market
Several UK charities are warning that this morning’s rise in the energy price cap (which covers England, Wales and Scotland) will hurt struggling householdss
The Centre for Ageing Better is concerned that millions of older people already struggling on low incomes will be put into even greater difficulty with increasing energy costs, having already lost their winter fuel payments last year.
“It is so dispiriting to learn that bill payers must brace for another substantial increase to energy prices from April. For those living on the breadline, desperately struggling to meet the basic costs of everyday living, this will be heartbreaking news.
There are millions of older people who no longer qualify for winter fuel payments who live on paltry incomes that do not even cover the basics of a dignified life. They simply will not be able to afford higher energy prices and will cut back usage further, at significant risk to their own health.
“Today’s price cap announcement is more bad news for the older people in poverty that have already been subjected to a brutally long and cold winter. We now know that energy prices will rise again by 6%, from an average of £1,738 to £1,849. People in later life on low fixed incomes have stretched their budgets to breaking point during the colder months, and many tell us they don’t have enough money to turn the heating on full stop. Now, their bills rise yet again to amounts they simply cannot afford.
“History cannot be allowed to repeat itself next winter. The UK Government needs to put in place plans that support older people in financial hardship to turn their heating on. Since the changes to Winter Fuel Payment were made in July, our helpline has seen a massive increase in calls regarding the payment, and many of the people we have spoken to have made drastic cutbacks, such as only living in one room and cutting down on food.
“We’re particularly concerned about households with children, where over one in three struggle to afford bills, rising to more than half of those on low incomes.
“The government can’t let another winter go by without targeted support for those most in need, and there is a way of paying for this. Our recent analysis found energy network companies made billions in excess profits while households have faced soaring bills, and it’s only right this money be used to help fund better targeted bill support and much-needed debt relief.”
“There is a sense of déjà vu in the energy market as we watch the price cap rise for a third consecutive time, with the volatile international wholesale market once again the main culprit. Households have been promised falls in bills, and many will be understandably irritated with what they may see as a failure of government energy policy. However, the reality is, our gas-led wholesale power market and reliance on international imports limits the impact of what any government policy can have - at least in the short-term - there is only so much you can do when prices are rising across the world.
“That’s not to say the government and the regulator are without options to help lower consumer bills. Ofgem has ongoing consultations looking at the non-wholesale costs included in the cap, and of course the government has levers it can pull from social tariffs to support payments.
Continue reading...Topics
-
Tesla sales almost halve in Europe as Musk faces criticism over Trump ties
Tech billionaire, a close adviser to the US president, is a vocal supporter of Germany’s far-right AfD party. Business live – latest updates Sales of new Tesla cars almost halved in Europe ...The Guardian - 3h -
Tesla sales slid by nearly 50% across Europe at the start of 2025
A drop in new registrations for Tesla came even as sales of battery-electric vehicles rose an overall 34% in the region, with Volkswagen and SAIC Motor increasing their market share.MarketWatch - 31m -
Bitcoin drops to a 3-month low below $90,000 in risk-off move
Bitcoin fell through the $90,000 level overnight, weakened by sell pressure in equities as the crypto market awaits its next market catalyst.CNBC - 4m -
Tesla starts 2025 with sharp drop in sales in Europe
Sales down 45% in January for EV maker led by Elon MuskFinancial Times - 8h -
Hyundai counts on Inster to reverse steep EV sales slide in Europe
Yahoo News - 21h -
Bitcoin drops under $90,000, hitting November lows
Bitcoin and other cryptocurrencies were under fresh pressure on Tuesday,MarketWatch - 3h -
S&P 500 and Dow slide in worst day of 2025 amid economic worries
Stocks fell sharply after reports signaled concerns that President Trump's policies could be impacting the U.S. economy.CBS News - 3d -
Poland’s Andrzej Duda to meet Donald Trump on Saturday– Europe live
Polish president to fly to Washington, making him the first European leader to be welcomed by Trump in the White House, reports Polish media. A 51-year-old man has been sentenced to eight years in ...The Guardian - 3d -
Europe’s big carnivores are on the rise – but can we live with bears next door?
Numbers of animals once hunted as vermin are rising across the continent. But scientists worry about how we are going to get along with these predators. Europe’s carnivores have had a remarkable ...The Guardian - 2d
More from The Guardian
-
UK defence spending to rise to 2.5% of GDP by 2027 with aid budget slashed to help fund move - UK politics live
Keir Starmer says now is the time to deepen European security, as he announces move in the Commons. The rightwing historian Niall Ferguson is in the audience for Badenoch’s speech, according to ...The Guardian - 18m -
Kremlin disputes Trump claim Russia would accept Nato peacekeeping troops in Ukraine – live
Kremlin says it has nothing to add to the foreign ministry’s position on the unacceptability of Nato peacekeepers in Ukraine. Ukraine’s presidential press service has issued a photograph showing ...The Guardian - 10m -
Israel ‘wants to extend first phase of Gaza ceasefire deal’ as talks stall
Israel ready to resume fighting if there is no progress in crucial talks this week, reports say. Israel is seeking to extend the first stage of the ceasefire agreement in the war with Hamas in Gaza ...The Guardian - 44m -
US woman in custody after allegedly throwing newborn out of Paris hotel window
Baby was pronounced dead at hospital and authorities are investigating case as homicide of a minor younger than 15. A young American woman on a European trip was taken into custody after she ...The Guardian - 1h -
Pope Francis carries out work duties despite critical condition
Pontiff holds meeting in hospital room and is reported to have ‘slept well’ . Pope Francis has carried out work duties, including approving individuals for canonisation, despite being in a ...The Guardian - 6h
More in World
-
Nearly 40% of contracts canceled by Doge are expected to produce no savings – live
Almost 40% of federal contracts canceled as part of Doge’s cost-cutting efforts aren’t expected to save government any money, Trump administration’s own data shows. It’s coming down to the wire for ...The Guardian - 9m -
Kremlin disputes Trump claim Russia would accept Nato peacekeeping troops in Ukraine – live
Kremlin says it has nothing to add to the foreign ministry’s position on the unacceptability of Nato peacekeepers in Ukraine. Ukraine’s presidential press service has issued a photograph showing ...The Guardian - 10m -
N.S.F. Cuts Raise Fears of a Reduced U.S. Presence in Polar Regions
The National Science Foundation has fired workers at the office that manages polar research, raising fears about a reduced U.S. presence in two strategic regions.The New York Times - 13m -
Abacus Worldwide adds Auditoria to network
Yahoo News - 16m -
Chinese tech firms take two steps forward, one step back
Well-founded rally remains in jeopardy from geopolitical risksFinancial Times - 16m
