World Development Movement blog

In a report released yesterday, the United Nations called for the regulation of financial speculation on food prices, to prevent “price bubbles”.

Financial gambling by banks, hedge funds and pension funds causes massive hikes in the price of basic foods, making millions of people go hungry. 

The report by the UN’s Conference on Trade and Development says that due to speculation, prices are no longer driven by supply and demand.

Tom Shelton, Handicap International UK

Leading financial institutions, both in the UK and worldwide, are continuing to invest billions of dollars in companies producing cluster munitions, despite these weapons being banned under international law, according to a new report released last week.

Yesterday’s announcement by deputy prime minister Nick Clegg that the UK Green Investment Bank will start operating in April 2012 is good news. But the coalition’s claims to be the “greenest government ever” ring pretty hollow as long as bailed-out bank Royal Bank of Scotland (RBS) continues to use taxpayers’ money to finance projects like tar sands extraction in Madagascar.

Jeremy Williams, blogger from MakeWealthHistory.org

As a child growing up in Madagascar, I remember the fleet of distinctive cars driven by the American oil workers. They had their own school for the children of AMOCO families. They even had their own supermarket, which we only found out about when the company pulled out. Like the rest of the expatriate community we descended like hawks on the closing down sale, and came home with armfuls of exotic US goods - bacon bits, tubes of cheese and dried French onions.

Iain Thom, oil-addicted RBS banker

Inside the RBS AGM today members of three Canadian First Nations spoke out against UK public money helping RBS invest in the companies extracting tar sands in Alberta.

A group of campaigners dressed as oil-addicted bankers meanwhile staggered around outside drinking from oil cans and calling on the Government to cure RBS of its oil fossil fuel addiction.

Hilary Aked

Why did WDM join the demonstration opposing the government’s sweeping cuts last Saturday? Why should a group which campaigns against global poverty be concerned with the domestic economy, especially when the oversees aid budget has supposedly been ring-fenced?

The fact that the current government is channelling the 0.7% GDP that goes towards oversees aid into counter-terrorism initiatives in only a handful of countries, rather than supporting those most in need might be cause enough to take to the streets.

Catherine Negus, used to be Campaigns Assistant

Last month thousands of people helped us to counter bankers’ attempts to weaken European proposals for regulation of food speculation by responding to the consultation on derivatives reform. Now we need your help again.