Delight at plans to reopen threatened city lido
A council has announced the reopening date of a city lido that was threatened with closure amid budget cuts.
Peterborough Lido will reopen on 24 May, the city council has confirmed.
Clare Marshall from Friends of Peterborough Lido said campaigners were "delighted that the Lido will reopen this year".
Previously, the local authority announced cost-cutting proposals, including mothballing the lido, which is the city's only public pool and costs the council £400,000 a year to run.
Previously, there was "anger" from city users over the council's proposal to close the facility.
Following a public consultation, the council announced the 88-year-old swimming pool would not shut.
The season usually begins in April.
Ms Marshall who is the vice chair of the lido Friends group said: "We are delighted that the Lido will open this year.
"We want to thank all our members who took part in the consultation which helped overturn the council's mothballing proposal.
"We look forward to being there on the opening day and enjoying the season as well as contributing towards future vision and discussions around the pool with Peterborough City Council."
The council said the pool would shut for the season on 7 September, followed by a weekend of dog swimming.
Follow Peterborough news on BBC Sounds, Facebook, Instagram and X.
Mothballing city lido among cost-cutting proposals
Lido users 'devastated' at temporary closure idea
Public has say on council's cost-cutting proposals
Demolition work at Raac-affected pool due to begin
Peterborough City Council
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
9 hours ago
- Yahoo
Oil hedging volumes hit new records as US producers rush to lock in soaring prices
By Georgina McCartney HOUSTON (Reuters) -Israel's surprise attack on Iran last week had oil prices spiking which sent U.S. producers scrambling to lock in the price gain, driving record hedging volumes that will help shield them from future price swings. West Texas Intermediate crude futures rose further this week, closing on Friday at around $75 a barrel. This prompted U.S. producers to secure additional price gains through 2026, having already driven hedging activity on the Aegis Hedging platform to a record high last Friday. Aegis Hedging, which handles hedging for roughly 25-30% of U.S. output, according to internal estimates, saw a record volume and greatest number of trades done on its trading platform on June 13. The U.S. produces some 13.56 million barrels per day of oil, according to the latest government figures. U.S. crude futures jumped 7% on June 13 to around $73 a barrel, after Israel struck Iran, the largest single day rise since July 2022. Prices had been hovering under where many producers would opt to hedge, hitting a four-year low of $57 a barrel in May as OPEC+ started hiking output while U.S. President Donald Trump waged a trade war. The jump on June 13 gave traders an opportunity to lock in prices for their barrels not seen in several weeks. When prices react to risk-related events - such as Israel's attack on Iran - as opposed to supply-and-demand fundamentals, the front of the oil futures curve rises more than later contracts, influencing whether producers opt for short- or long-term hedging strategies, according to Aegis Hedging. "In this case it was probably a six-month effect," said Matt Marshall, president of Aegis Hedging. Oil producers need a price of $65 a barrel on average to profitably drill, according to the first quarter 2025 Dallas Federal Reserve Survey. U.S. crude futures closed below $65 every day from April 4 to June 9, according to LSEG. "We stay disciplined and pay close attention to market volatility. We watch for accretive pricing to our existing hedges and layer in hedges to reduce risk to our asset revenue as well as meet our reserve-based lending covenants," said Rhett Bennett, chief executive at Black Mountain Energy, a producer with operations in the Permian Basin. A reserve-based lending covenant refers to a type of loan producers can obtain, based on the value of the company's oil and gas reserves. "Producers recognized that this could be a fleeting issue and so they saw a price that was above their budget for the first time in a few months, and instead of doing a structure that would give them a floor which is below market, they opted to be aggressive and lock in," said Aegis' Marshall. Aegis' customers often have hedging policies in which a certain amount of production must be hedged by a certain time in the year. "Producers had two months of hedges that they needed to catch up on," Aegis' Marshall said. Traders on June 13 exchanged the most $80 West Texas Intermediate crude oil call options since January on the Chicago Mercantile Exchange, expecting more upside to prices. A total of 33,411 contracts of August-2025 $80 call options for WTI crude oil were traded that day on a total trading volume of 681,000 contracts, marking the highest volume for these options this year, according to CME Group data. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Yahoo
Credit card bill crusade persists
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Sens. Roger Marshall and Dick Durbin failed last week to inch their Credit Card Competition Act legislation forward by means of the GENIUS Stablecoin. They had sought to attach an amendment with their CCCA language to the stablecoin bill in an effort to have a larger piece of legislation take their stalled proposal across the finish line in Congress. Instead, a battle royal – pitting retail and merchant interests against those of banks and card networks – is set to continue as the senators take aim at fees charged every time a consumer swipes a credit card. Retailers, restaurants and other merchants argue the fees are an undue and costly burden for stores and restaurants. To ease that expense, the senators contend their bill would inject competition into an industry dominated by Visa and Mastercard by requiring bank card issuers to make an alternative network available. That would be a mistake in the view of bank card issuers and the card networks that argue these fees pay for needed security and popular loyalty programs. In an interview last week, Richard Hunt, the executive chairman of the Electronic Payments Coalition, called out the irony of attaching the CCCA language to a stablecoin framework bill, noting that the cryptocurrency would introduce the competition for cards that Marshall and Durbin crave. It smacks of double-speak when the merchant camp suggests stablecoins are a new payment possibility, but still contend cards need more competition, he said. That sentiment draws attention to the swarm of new digital payments rivals have sprung up over the past two decades since a predecessor to PayPal Holdings was founded in 1998, and more recently with the ascent of Apple Pay and Google Pay. Presumably, those new options have swamped cards with more competition. But that's not necessarily the case, partly because many of those new digital tools still connect to credit cards, buttressing the position of big card issuers, such as JPMorgan Chase and Capital One, as well as the networks, namely the dominant players, Visa and Mastercard. The strength of the card fortress was demonstrated by an Atlanta Federal Reserve Bank report last month presenting survey results that showed credit cards were consumers' preferred payment option 35% of the time. It also showed the credit card share expanding more than other methods. Durbin, a Democrat from Illinois, and Marshall, a Republican from Kansas, say they're pushing their bill on behalf of big and small merchants, arguing that credit card fees often eat up a significant portion of businesses' slim margins. Groups representing merchants, including NACS, aka the National Association of Convenience Stores, made clear last week that they'll keep pushing to pass the CCCA provisions. Marshall has taken the lead recently on an effort started by decades ago by Durbin, who has said he won't seek re-election. 'The banks have been so overly aggressive in advertising against him in Kansas, and doing some other things, that they made it a top priority for him,' NACS General Counsel Doug Kantor said of Marshall in an interview last week. 'They made him angry.' Spokespeople for Durbin and Marshall have declined to comment, but the Merchants Payments Coalition said the latest CCCA campaign brought a 'surge of support.' Whether or not stablecoins ever become a true threat to cards remains to be seen. One industry consultant, Peter Tapling, says they have the potential to challenge cards, but he doesn't see them as a threat to Visa or Mastercard at the moment. Tapling points to Paze, the Early Warning Services digital wallet that's struggled to get traction, as evidence of how difficult it is to lure consumers and merchants to new forms of payment. It's always the chicken-egg problem – will consumers demand to use it enough for merchants to adopt it or will merchants make it available enough that consumers gravitate to it, he said in an interview Friday. Back in Washington, Kantor says CCCA supporters are already hunting for the next piece of legislation capable of carrying the bill to passage. Recommended Reading Walmart, Kroger eye instant payments Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
13-06-2025
- CNBC
Goldman says it's a great time for the 'stock replacement' options strategy
With the recent market gains, now may be the time for investors to consider buying call options as a substitute for stocks, according to Goldman Sachs. After turning positive for the year last month on the heels of the U.S. and China agreeing to temporarily cut tariffs for 90 days, the S & P 500 is now within striking distance of scoring a new high. As of Thursday's close, the broad market index was 1.7% away from its February record. Prior to Israel's strike on Iran, the index was on pace for its third positive week in a row, and looked poised to notch a new record shortly. As of Thursday, the S & P 500 had advanced almost 3% in the past month and more than 9% in the past three months. Its year-to-date climb stood at about 2.8%. "For investors holding stocks that have outperformed, we view this backdrop as particularly attractive for replacing stock with long calls," wrote John Marshall, head of derivatives research at Goldman, in a Wednesday note. Marshall highlighted several buy-rated "stock replacement" names, including Meta Platforms and CrowdStrike , that have outperformed both the S & P 500 and their respective sector indexes by more than 10%. "If the stocks continue to trade higher, investors maintain upside exposure, but in the event the rally stalls, investors lose only their premium paid," he also wrote. Meta Platforms has had a solid year so far, having risen more than 18% in 2025 and more than 17% in the past three months. Goldman noted that the "Magnificent Seven" name has outperformed the S & P 500 by 17% and the information technology and communication services sectors by 12%. This comes as Meta is increasing its artificial intelligence bets. On Tuesday, people familiar with the matter told CNBC that Meta is currently finalizing a deal to invest $14 billion into Scale AI, tapping its co-founder Alexandr Wang to join the company to help reach its AI goals. META YTD mountain META, year-to-date Dollar Tree was another name highlighted by Marshall, with the discount retailer outperforming the S & P 500 by 22% and the consumer staples and discretionary sectors by 20%. The stock has surged more than 45% in the past three months and more than 37% in the past six. DLTR YTD mountain Dollar Tree stock year to date However, shares came under pressure last week after the company said that adjusted earnings per share in the current quarter could see a year-over-year fall of as much as 50%, citing President Donald Trump's tariffs as a headwind. Uber Technologies , which has been a big winner this quarter with a rise of more than 17% in the period, also made the list. Shares of the ride-hailing company have also outperformed the S & P 500 by 41% and the industrials sector by 33%.
