The latest from WDM

Welcome to the World Development Movement news pages. You can view our news by category in each campaign section, or get the whole lot below. For press inquiries please contact the press office.

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News

Barclays AGM: Protestors to target Barclays for gambling on food

24 April 2013

Campaigners from the World Development Movement will protest at Barclays’ AGM tomorrow, accusing the bank of contributing to global hunger through gambling on food prices.

Anglo-American to face protests at AGM over mines in Colombia and South Africa

18 April 2013

British mining giant Anglo-American will face protests at its London AGM on Friday over controversial mining projects in Colombia and South Africa, and the climate impact of its coal extraction.

Aid is not a business opportunity

13 March 2013

International development secretary Justine Greening announced yesterday that billions of pounds of aid money would go to UK businesses.

One third of government ministers linked to UK companies fuelling climate change

11 March 2013

One third of ministers in the UK government, including top cabinet ministers, are linked to the UK finance and energy companies fuelling climate change, a new report from the World Development Movement reveals today.

Bankers Anonymous launched to help banks kick gambling addiction

18 February 2013

Anti-poverty campaigners today launched 'Bankers Anonymous', a five-step programme to help investment banks kick their addiction to gambling on global food prices.

Barclays announced a withdrawal from speculating on food last week following public outcry over its effect on hunger.

Barclays ends food speculation that made up to £278 million in 2012

14 February 2013

Barclays, which announced an end to its speculation on food on Tuesday, made up to an estimated £278 million from the trade in 2012. The figure brings the bank’s total revenue from food speculation from 2010 to 2012 to an estimated three quarters of a billion pounds.

Barclays stops speculating on food – campaigners demand regulation

12 February 2013

Barclays chief Antony Jenkins announced today that the bank would stop speculating on food, saying the practice is “not compatible with our purpose”. It is unclear whether the bank will continue to broker speculative deals for its clients. Campaigners have renewed calls for tough regulation to prevent speculation fuelling price spikes and contributing to the global hunger crisis.

Protests prevent British mining company GCM visiting mine site in Bangladesh – director resigns

4 February 2013

Massive protests against British mining company GCM Resources prevented the company’s CEO visiting the site of its proposed open-pit coal mine in Bangladesh last week. One of the company’s directors resigned the following day.

CEO Gary Lye was due to visit Phulbari on 29 January, where GCM wants to open a mine that would displace up to 220,000 people. Mr Lye had planned to distribute blankets to people living in the area, according to the local press. Thousands of people joined protests against the mine, and Lye abandoned his visit on official advice.

Goldman Sachs made up to £250 million betting on food prices in 2012

21 January 2013

Goldman Sachs made up to an estimated £251 million (US$400 million) in 2012 from speculating on food including wheat, maize and soy, prompting campaigners to accuse the bank of contributing to a growing global food crisis.

Goldman Sachs is recognised as the leading global player in financial speculation on food and other commodities, and created the first commodity index funds which allow huge amounts of money to be gambled on prices.

Complaint filed against British coal miner GCM over Bangladesh mine

20 December 2012

Campaigners have filed a complaint against British coal miner GCM Resources over a controversial open-pit coal mine in Bangladesh, ahead of the company’s AGM in London today.