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Lloyds and Shell Report Massive Profit Surges Amid Windfall Tax Calls

1 report, 1 independent Updated Thu 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

Lloyds Banking Group reported that its third-quarter profits nearly doubled, reaching £2.3 billion. Similarly, Shell's third-quarter earnings leaped to £8.12 billion. These high profits were criticized by MPs and campaigners, who warned that the gains were linked to the cost-of-living crisis.

From morningstaronline.co.uk

Why it matters

Some supportBrind's analysis of the reports

The profit surges occurred shortly after the Chancellor provided banks with a lighter corporation tax surcharge than expected. Critics are now calling for levies to redirect these 'super-profits' into household support.

From morningstaronline.co.uk

Who's involved

  • Lloyds Banking GroupReported a near-doubling of third-quarter profits to £2.3 billion.
  • ShellReported third-quarter earnings leaping to £8.12 billion.

Who could feel it

Possible knock-on effects

These are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.

  • Lloyds Banking GroupSpeculative

    Lloyds Banking Group might face political pressure or regulatory scrutiny over its bank super-profits.

  • ShellSpeculative

    Shell could face political pressure or regulatory scrutiny over its high profits from fossil fuels.

  • TotalEnergiesSpeculative

    TotalEnergies may face political pressure or windfall tax calls due to its high profits.

Possible ripples

Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.

Keep exploring

The entities involved

Coverage

Newest first; wire copies grouped