While you were sleeping…

Good morning!

Overnight Obama prepared plans to tax the rich to feed the middle classes, while ISIS said it would tax Japan $200m for two hostages.

France’s unpopular socialist president scored higher in polls in the wake of the Paris attacks, as the country’s far-right party failed to get an expected ratings boost.

Facebook said it generated money and jobs across the world.

President Obama prepared to announce taxes to benefit middle classes

After suffering for several years of hardship, America’s middle class could finally get a break, if President Obama gets his way. This evening he’ll be setting out plans to tax the country’s wealthiest people and businesses by ditching tax loopholes and slapping big fees on financial firms. If he can convince tax-shy Republicans to get on board, the $320 billion raised over a decade will be spent on improving benefits for middle class folk.

Japan was given a ransom demand by ISIS

The militant group released a video this morning in which it threatened to kill two Japanese hostages unless the government hands over $200m. It’s the same amount that Japan pledged earlier in the week to countries who are fighting the Islamic extremist group. Japan’s Prime Minister said it was working on securing release for the hostages.

Facebook was boosting the world’s economy

Facebook’s 1.35 billion users generated $227 billion worth of economic impact and 4.5 million jobs in 2014, according to a report it commissioned. COO Sheryl Sandberg, who says that Facebook helps new businesses and generates cash through games and apps, will have the report in hand when she travels to the World Economic Forum inDavos, Switzerland, this week. She’s there to talk about the future of the digital economy.

France’s far-right failed to capitalize on extremist attacks

For the first time in ages, France’spoor oldPresident Francois Hollande has had a boost in ratings, in the wake of the shootings in Paris. Despite expectations that the country’s far-right, anti-immigration National Front party would see ratings soar after the attack by extremists, leader Marine Le Pen’s score remains the same. The president’s socialist party banned her from last week’s national solidarity march because of what it says are her own extremist views.