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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.

An internal investigation has revealed that the World Bank has invested in a palm oil and food company implicated in serious rights abuses in Honduras.

Climate change could put back the fight against hunger by decades but our global food system is woefully unprepared to cope with the challenge.

All countries must use the COP20 Summit in Lima to resolve the impasse over “climate finance,” and make success possible at the critical Paris talks in December 2015, says international agency Oxfam.

The international development agency said global food prices will more than double within 20 years as a new age of crisis forces the collapse of our broken global food system, said Oxfam today.

One person is likely dying of hunger every 48 seconds in drought-ravaged Ethiopia, Kenya and Somalia, according to estimates by Oxfam and Save the Children in a report published today highlighting the world’s repeated failure to stave off preventable disasters. 

Over 50 leading financiers have expressed their support for a European Financial Transaction Tax (FTT) ahead of a meeting of Finance Ministers in Brussels next week. In an open letter to European leaders, the financiers argue the FTT will reduce financial instability and raise significant additional government revenue.

Commenting at the close of the EU council meeting where leaders agreed on a new EU 2030 climate target and discussed the EU’s response to the Covid-19 pandemic, Evelien van Roemburg, head of Oxfam’s EU advocacy office said: "The new, more ambitious, EU 2030 target still falls short of what is needed and what is fair. The EU must take urgent practical steps to deliver above and beyond this target."

The recent escalation of hostilities in the Occupied Palestinian Territory and Israel has resulted in another cycle of destruction and human suffering for the people of Gaza. Many civilians have lost their lives, and thousands more have their lives endangered by the shutdown of vital public services. They need your help.

A coalition of organizations has published a new database today revealing $38.2 billion worth of investment and financial relationships that involve 318 financial intermediary clients of Dutch development bank FMO and the World Bank’s private lending arm, the IFC.