Press office & press releases

The US Senate is expected to approve a landmark bill on Wall Street reform later today, covering bank bonuses, financial transparency of complex derivatives, regulation of hedge funds and food markets. This legislation will send shockwaves across the global financial sector, but WDM fears that proposals for a similar EU crack down of the banks may not be backed the UK government.

The World Development Movement reacted angrily to today's Royal Bank of Scotland's annual results and bonuses announcements.

WDM is campaigning for RBS to phase out its investments in mining companies like Vedanta and projects, like oil extraction from tar sands that are linked with controversial human rights violations. They are arguing that the bonuses awarded for investments that hurt the lives of ordinary people and the publically owned bank should be benefitting society in the UK and around the world.

• Last November's £25 billion cash injection deemed 'unlawful' by campaigners
• Treasury's intervention in bankers' bonuses strengthens campaigners case

Three pressure groups today served the Treasury with their application to the High Court, challenging last November's decision to provide a further £25 billion of public money to the Royal Bank of Scotland.

After Tuesday’s earthquake, which has left up to 50,000 people dead, WDM has joined the Jubilee Debt Campaign in calling for an urgent cancellation of all of Haiti's remaining debt.