Newspaper headlines: Economy to ‘stagnate’ and Shell profits ‘obscene’

The Guardian also leads on Shell’s profits announcement, the highest in its 115-year history, which has been labelled by the head of the TUC union as “obscene”. The paper reports that the UK government is under pressure to rethink its windfall tax, which applies to energy companies’ profits, after Shell reported “one of the largest profits in UK corporate history”. The UK-headquartered company paid $134m in British windfall taxes last year, the story adds.