Press release

Press releases from the World Development Movement.

The economic case for the EU-US trade deal is ‘deeply flawed’, leading researchers on the deal have said as negotiations begin in Brussels today.

Prime Minister David Cameron has claimed that the deal, known as the Transatlantic Trade and Investment Partnership (TTIP) would bring £99 billion a year to the EU, giving an average family of four in the UK an extra £454 per year.

But researchers Dr Gabriel Siles-Brügge from the University of Manchester and Dr Ferdi De Ville from Ghent University in Belgium say the analysis on which the claims are based is misleading.

The World Development Movement has today launched a new interactive, online documentary exploring UK banks' financing of the Indonesian coal mining boom.

On the eve of Scotland’s international climate justice conference, campaigners have welcomed the Scottish government’s on-going commitment to climate justice, calling for further funds to help meet the country’s ‘climate debt’ to developing countries. But they have also warned the government to steer clear of corporate involvement in climate finance, claiming that thriving, democratic public sectors are the only means of tackling climate change in a just way.

A guided walking tour around Edinburgh’s financial districts this autumn (26 September-26 October) will reveal the hidden story of UK banks, pension funds and hedge funds fuelling climate change by investing in fossil fuel companies and dirty energy projects around the world.

Campaigners set up a ‘Carbon Bubbles champagne bar’ outside of HSBC’s AGM to highlight the bank’s role in financing dirty energy projects.

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.

Yesterday the European Parliament’s Committee on Economic and Monetary Affairs (ECON) adopted its report on the review of the Markets in Financial Instruments Directive (MiFID). This piece of legislation is critical to achieve stronger regulation of commodity derivative markets and limit harmful financial speculation on food

NGOs welcomed the introduction of mandatory limits on speculation but warn that a number of loopholes must be fixed to make the proposed rules effective. 

UK consumers are paying 3.7 per cent more for food than they did a year ago, leading to calls for the Chancellor George Osborne to tackle financial speculation on food prices. The rise has added more than £100 to the average household’s annual grocery bill.

Inflation figures released today reveal that food prices rose by 1.2 per cent from January to February this year, contributing to the 3.7 per cent annual rise, which is well above the government’s 2 per cent target for overall inflation. [1]

 The World Development Movement has today warned that the UK’s new drive to provide aid to Somalia is looking like a ‘cynical’ attempt to grab its oil, rather than being aimed at ensuring a better future for people in one of the world’s poorest countries.

Barclays’ £1.5 billion investment banking bonus pool could pay for school meals for two years for the 23 million primary age children who attend school hungry across Africa, according to figures from the World Development Movement.  

The anti-poverty group has slammed the bank for its involvement in speculation on food prices which is fuelling global price spikes, incentivised by bonuses which it claims reward risky and socially damaging behaviour. 

The total bonus pool for the bank’s investment arm could pay for 9.6 billion meals, the campaign group said today.  

Pages

Subscribe to RSS - Press release