Rolling coverage of the latest economic and financial newsUS Federal Reserve holds interest rates steady as inflation ticks upEnergy giant Shell has beaten City expectations this morning by reporting adjusted earnings of $7.7bn for the first quarter of 2024.Shell’s earnings were lower than a year ago – it made a bumper $9.6bn in Q1 2023 – but well above analyst predictions of $6.5bn.“Shell delivered another quarter of strong operational and financial performance, demonstrating our continued focus on delivering more value with less emissions,”“Shell continuing to rake in huge sums of money shows us that huge polluter profits were not a one-off but are the twisted reality of an energy system that benefits climate-wrecking companies to the cost of everyone else.”“Companies like Shell saw record profits while the energy crisis dragged millions of families into poverty through unaffordable energy bills. Meanwhile fossil fuel giants fought hard against paying more tax. Continue reading...