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The Latest Breaking News from Shell

Wall Street activist Dan Loeb says Shell risks becoming ‘tarnished’ unless it heeds his break-up call

Loeb’s Third Point Investors has been pushing for a break-up of Shell, calling its current business ‘confusing and unmanageable’

Evening Standard

Windfall tax on oil giants won’t hurt British pensioners, thinktank finds

Review by Common Wealth reveals that UK pension funds hold tiny fraction of Shell and BP shares

The Guardian - UK

Louisiana legislator pushes bills benefiting the oil and gas industry — and her husband

Internal emails show Louisiana state senator Sharon Hewitt worked on a bill with a company that had financial ties to her spouse

The Guardian - US

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‘Don’t tax energy giants – they invest in Britain’s future.’ Let’s drill down into that

North Sea developments aren’t about lowering bills or securing energy supplies – they’re just business as usual, says Tessa Khan, director of Uplift UK

The Guardian - UK

Why are Shell’s profits so high?

Oil giant reveals underlying earnings tripled at start of this year

The Independent UK

The Leader podcast: Should Shell’s oil mega-profits fund struggling families?

Shell has announced a shock jump in its profits - nearly triple what it was last year, which has sparked calls for a windfall tax on oil and gas giants to help families struggling with the cost-of-living squeeze.

Evening Standard

Shell and BP reveal record profit margins fuelling calls for windfall tax on oil and gas firms

Lib Dem leader Sir Ed Davey says it's "completely unforgivable" that the Government is yet to tax the super-profits of energy companies

Chronicle Live

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Morning Brief: Top Financial Stories Dominating on Thursday, May 5

CNBC

Benzinga

Calls for windfall tax grow as oil and gas giant Shell's profits soar to £7bn

Boris Johnson faces renewed demands to act as Brits face a cost of living crisis due to rising energy bills - while firms rake in massive earnings

Daily Mirror

Evening Standard Comment: As Shell and BP make bumper profits, it could be time to consider a windfall tax

The timing is certainly awkward. Oil giant Shell has reported underlying profits of £7.2 billion in the first quarter of this year, up 43 per cent on the final three months of 2021, thanks to high oil and gas prices. It comes days after BP announced profits of more than…

Evening Standard

Shell's Q1 Profit Up 43% As High Oil Prices Offset Russia Exit

Shell Plc (NYSE:SHEL) reported a record Q1 profit of $9.13 billion, up 43%, boosted by higher oil and gas prices, stellar refining profits, and the strong performance of its trading division. The company reported the highest quarterly profit since 2008, even after writing down $3.9 billion post-tax due to its decision to…

Benzinga

What is a windfall tax? Ed Miliband attacks loopholes in oil and gas levy

The Shadow Climate Secretary said the figures show government “failure to act on the windfalls of war being pocketed by the oil and gas producers”

Evening Standard

Shell reports record 1st-quarter earnings as oil prices soar

Energy giant Shell has reported record first-quarter earnings after a surge in oil prices

The Independent UK

Windfall tax: What is it, how would it work and how would consumers benefit?

Labour and the Lib Dems are calling for one; the Tories are resisting it. But how would it actually work?

Bristol Post

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Insider UK

Shell fuels calls for windfall tax with record profits haul

First quarter underlying earnings came in at £7.2bn – nearly three times higher than a year ago

The National (Scotland)

Record Shell profits spark fresh demand for Tories to back windfall tax

THE UK Government is under increasing pressure to introduce a windfall tax on energy giants after Shell announced mammoth first-quarter profits…

Wales Online

Call for huge tax on Shell as it makes £7.2bn profit in three months

On Tuesday, fellow FTSE 100 firm BP unveiled its highest quarterly underlying profits for more than a decade

Evening Standard

FTSE 100 Live: Pound crashes on BoE outlook, rates hiked, Musk raises $7bn for Twitter bid, Shell profits soar

Interest rates reached 1% for the first time in 13 years today as Bank of England policymakers battle rampant inflation.

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The Guardian - UK

Pound tumbles to two-year low as stagflation fears rise – as it happened

Sterling tumbles to lowest since June 2020 as Bank of England lifts interest rates to 13-year high, cuts growth forecasts, and sees inflation hitting 10%

Daily Mirror

Shell profits soar to record £7bn as energy crisis leaves families unable to heat homes

Energy giant Shell today reported record profits as oil and gas prices continue to skyrocket around the world. It comes as Boris Johnson continues to rule out a windfall tax on oil firms despite calls for one from opposition parties

Evening Standard

Bumper £7bn Shell profits fuel new windfall tax row

Huge profits announced thanks to soaring oil and gas prices amid calls for windfall tax

Asharq Al-Awsat

Why the EU May Find it Tough to Squeeze Out Russian Oil

The European Union has proposed a phased embargo of Russian oil but may find it tricky to implement, given Europe's complex distribution network and challenges in tracking crude once it is blended or refined. The plan, if agreed by member states, would take effect in six months for crude, and…

Bristol Post

Green demands for Avon Pension Fund to stop investing in fossil fuels sparks row

But the meeting heard it is not a "not a binary issue"

The Guardian - UK

Wednesday briefing: Would a windfall tax on BP’s soaring profits work?

In today’s newsletter: Nimo Omer breaks down BP’s enormous profits, and why some are calling for a windfall tax amid a cost of living crisis nationwide

The Guardian - UK

When will my Shell Energy smart meter become smart again?

A reader’s gas and electricity meters lost connectivity days before the tariff increase

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