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Responding to the announcement today that the G7 will back a global minimum corporate tax rate of 15 percent, Gabriela Bucher, Executive Director of Oxfam International, said: “Fixing a global minimum corporate tax rate of just 15 percent is far too low. It will do little to end the damaging race to the bottom on corporate tax and curtail the widespread use of tax havens."

The world’s five richest men have more than doubled their fortunes from $405 billion to $869 billion since 2020 —at a rate of $14 million per hour— while nearly five billion people have been made poorer, reveals a new Oxfam report on inequality and global corporate power. If current trends continue, the world will have its first trillionaire within a decade but poverty won’t be eradicated for another 229 years.

Food inflation in some East African countries outstrips the global average leaving millions hungry, while food billionaires increased their wealth by $382bn over the last two years.

The European Commission’s new plan to boost the role of the private sector in development cooperation could put efforts to reduce poverty second to the interests of European companies, said leading

Donors attending Monday’s pledging conference in Brussels must address a massive funding shortfall – over $900 million - on work needed to tackle the food crisis in the Sahel.

In a passionate appeal to governments negotiating an Arms Trade Treaty at the United Nations until the 27th July, President Ellen Johnson Sirleaf of Liberia called on them to “make history in the next few days and change the world for the better.”

Banks in France, Germany, Austria and the United Kingdom have pulled back from speculative trading in agricultural commodities, a controversial practice that Oxfam opposes because it is associated with food price volatility.

The G20 must take necessary steps to reform the international taxation system to stop wealthy tax dodgers, beginning at its Finance Ministers and Central Bank Governors meeting this weekend (22-23 Feb) in Sydney.

Australia’s big four banks are backing companies accused of kicking people off their land, leaving them homeless and hungry, Oxfam Australia said today.

Rulings by the General Court of the European Union today are a wake-up call for the EU to stop the destructive race to the bottom on taxation and reform the global architecture to create a fairer and more equitable system, says Oxfam.