act. no more excuses, impose a higher windfall tax. when chancellor rishi sunak introduced an extra went full tax on extraordinary profits on top of the tax oil and gas companies already pay. some say these profits are so excessive further taxes are now justified. companies like this do not always make this kind of money. there are lean periods as well. prices have already come down from their highs this year. shell has said it will invest £25 billions next year in low oi’ zero carbon energy. some feel more taxes could jeopardise that. a very cleverly designed windfall tax may help the government achieve certain targets. but somebody else may design a poor windfall tax and that would be a distortion to investment, investment may not happen or it would go elsewhere, where it is more attractive to do so. a report by the international energy agency suggests the global crisis
has now been sent to the eu and creditors. there s a whole lot riding on it. the greek government of prime minister sib practices has been working on this. there are late reports it includes 14 bill in tax cuts and returns in return for 5 billions in loans from the eu and others. the costers even bigger than the ones tsipras and the voters reject just a short time ago. the sweetener is that the eu, including even chance la merkel and other others, will make some kind of moves to reschedule ago even forgiving some of greece s massive debt. a heavy show of security but no need. the pro european union rally might be noisy but it s small and peaceful. as the folks here wait and wonder about their future. i say europe.
from soldiers. yet to be charged, family members are hopeful she will be freed soon. to business where wall street is looking to rally after a rare down day. all three indices fell yesterday. the dow tumbled more than 100 points, it was the worst one-day loss in nearly a month. let s check in with jeff cuttimore in london. if the u.s. economy does better it s bad for the markets because the federal reserve might pull back. it s strange what could be good for our economy might be bad for stokes. absolutely. we had a fed voting member talking about maybe, possibly, we re kind of open to the idea of starting some tapering here, which means reigning back this $85 billions that the fed drops every month on bond purchases. that has the market nervous. if that process begins, what happens next to equities? do they go up or down on the
you could about the sequester. you can t sit back and say the president s proosal from two years ago we wash our hands of it and let your national defenses be gutted. chris: liz, it is interesting. with the fiscal cliff at the start of the year the president had all of the leverage because if congress did nothing everybody got a tax increase the rich as well as the middle class. do republicans have the leverage now you because if they he donning if congress does nothing than the $85 billions in automatic spending cuts kick in? that is what they are saying. i m not entirely sure that that is true in the sense that i think that republicans still risk being blamed more if it goes through and things go badly if the economy takes a big hit because of it. based on all of the polling and the way this argument has been shaped and frankly because they are just at such a disadvantage with messaging. obama has been out there really driving this argument. i think the republican party would pro
you could about the sequester. you can t sit back and say the president s proosal from two years ago we wash our hands of it and let your national defenses be gutted. chris: liz, it is interesting. with the fiscal cliff at the start of the year the president had all of the leverage because if congress did nothing everybody got a tax increase the rich as well as the middle class. do republicans have the leverage now you because if they he donning if congress does nothing than the $85 billions in automatic spending cuts kick in? that is what they are saying. i m not entirely sure that that is true in the sense that i think that republicans still risk being blamed more if it goes through and things go badly if the economy takes a big hit because of it. based on all of the polling and the way this argument has been shaped and frankly because they are just at such a disadvantage with messaging. obama has been out there really driving this argument. i think the republican party would pro