That didn't take long! #Italy waters down bank #windfall #tax; UK heads towards five years of lost economic growth – business live
https://www.theguardian.com/business/live/2023/aug/09/italy-revises-bank-windfall-tax-uk-five-years-lost-economic-growth-mortgages-interest-rates-business-live

So as always, the #market (by which we really mean #banks & traders in #financialservices) win against a Govt.

In the light of market signals through the day on Tuesday, last night the #Italian Govt. capped its banking #windfall #tax at around a fifth of what commentators thought it might reach when announced.

Whatever, you think about the Italian Govt., the immediacy of reactions to financial markets confirms that Govt. fear the sentiment of financial actors... not really #democracy is it?

Meanwhile in #Italy:

A #windfall tax of 40% is being imposed on #banks #interestrate spread (the net profit on returns by virtue of the difference between rates to lenders & borrowers)....

Having looked at the extra level of profits made in the first half of this year, the one-off tax will be used to cut taxes & help #mortgage holders.

Despite loud demands in the UK for something similar, the #Tories are unlikely to turn against their chum in #financialservices, at least not yet!

Windfall for Telangana as an acre fetches Rs 100 crore in Hyderabad #Windfall #Telangana #Rs #Hyderabad #socialnewsxyz

https://www.socialnews.xyz/2023/08/03/windfall-for-telangana-as-an-acre-fetches-rs-100-crore-in-hyderabad/

Wow, what an incredible achievement for @satyanadella to join the exclusive club of corporate titans! #Microsoft #AI #StockRise #1Billion #TimCook #Apple #Windfall #EquityGrants #Salary #Bonuses #Dividends #Achievement #ExclusiveClub #Titans http://www.techmeme.com/230720/p13#a230720p13

#Windfall #NikkiHaley Haley’s Board Seat Delivers Stock Windfall https://pbs.twimg.com/media/FujpVJBWYAQbpWy?format=jpg&name=small

Having made #windfall profits on the back of #commodity price fluctuations and #supply #bottlenecks, large companies have been emboldened to raise prices further to increase #profit margins.

The count of Monte Cristo is one of those heartwarming tales which shows that with dedication, hard work, cunning, and a windfall of a hundred million dollars, dreams can come through.

Even if that dream might be revenge.

#Dumas #Literature #IfIHadAMillionDollars #Windfall #Motivation #CountOfMonteCristo

Well, well, well. who'd have thought; at a time of record #profits, when #energy firms say they need those profits to #invest & they shouldn't be subject to a #windfall tax, what do we actually see?

After a recent peak in 2014, investment by the industry has been bubbling along around half of that peak.

Sure, they're going to say there are special circumstances; for on or two years, perhaps but for eight years - No: looks like surplus extraction to me!

Moderna's 2022 Windfall a 'Scandalous' Result of Pandemic Profiteering, Campaigners Say
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One advocate said Moderna's windfall was a "direct result of the company’s refusal to share vaccine technology with the Global South, even when it was clear that global shortages would be deadly."

In this Feb. 25, 2021, photo, vials for the Moderna and Pfizer COVID-19 vaccines are...
https://alaska-native-news.com/common-dreams-license-2/66448/
#moderna #profiteering #windfall #vaccine

RT @TheDisproof
Fossil fuel firms dont need subsidies. They are accelerating climate change. The alleged war on oil and gas is a myth. What they are doing is putting profits over people. #windfall tax needed globally.

Went for a walk in the forest and was reminded that it is wild and slightly unsafe. The spruces have been weakened by the spruce bark beetle, and tonight a storm toppled yet another one over my favourite path. I took this picture while winds still howled in the dead and dying trees around me.

#WalkInTheForest #ReferencePictures #Spruce #Windfall #WalkInTheWoods

@JohanEmpa you totally lost me there, I don’t see what you are talking about in the article? #Exxon refuses to pay the EU #windfall tax and sues, #BP posts 115-year high profits and pays peanuts in the UK, which doesn’t have a proper windfall tax. How is that benefiting the #taxpayer? We are basically sponsoring #oilcompanies with our money. https://amp.theguardian.com/business/2023/feb/02/shell-profits-2022-surging-oil-prices-gas-ukraine

We need a proper #windfall tax on the oil giants, not a pretend one.
Energy giant #BP's profits double to $28bn
https://www.bbc.co.uk/news/business-64544110

@dean Yes maybe a #windrisetax? where government transposes a #superprofits tax into a #useitorloseit benefit. The old #windfall cannot be used for shareholders benefits or for buy back. You use windfall to improve corporate climate responsibility measured by technical monitor or you hand it to government who will use it for same, in your name 😜 😍 Love it!

Yes! I believe anybody would be angry at this injustice!

https://www.theguardian.com/business/2023/feb/02/shell-profits-2022-surging-oil-prices-gas-ukraine

A high #windfall #tax for #BigOil #Shell #Exxon #Chevron #shareholders #UK #EU #Europe is a must!!!!
Shell has prompted anger after annual profits more than doubled to a record of nearly $40 billion, Exxon made 56$ billion and Chevron 35$ billion, boosted by a surge in wholesale #gas prices linked to the #war in #Ukraine and as households struggle to pay huge energy bills.
And than the #fossil fuel giants also get annual roughly 750 $billion in #subsidies and grants from the #taxpayer

https://www.oecd.org/newsroom/support-for-fossil-fuels-almost-doubled-in-2021-slowing-progress-toward-international-climate-goals-according-to-new-analysis-from-oecd-and-iea.htm

Its the world upside down.
All #profit goes to shareholders and the #multinationals #COP15 #COP27 #COP28 #Climate #KlimaKrise #ClimateChange #ClimateCrisis #Lutzerath #ExtinctionRebellion

@kentparkstreet they could turn #fossilfuel #subsides into#renewables funding. It would be a great way to claw back some of those #windfall profits while doing some good.

Levelling up: UK schemes to share £2bn

https://www.bbc.co.uk/news/uk-politics-64321755

#LevellingUp #Windfall #PublicGood

Legal firm Freshfields Bruckhaus Deringer employed by ExxonMobil subsidiary in legal fightback against EU #windfall tax.

Nothing in this world is permanent
So I’m sharing this #NewYear’s #wish with you
For the year to come,
I wish more #love, #compassion.
Less #hate and #lies,
#Fascism and #racism may go extinct.
No more #hunger for the #poor
Free education for everyone!
A #RobinHood #windfall tax for the #Forbes500
In short, a better world for the majority.
A healed Earth. Grtz Pi-Qui