The top 50 companies in the U.S. are stashing $1.6 trillion in offshore accounts, according to a new analysis by Oxfam. That money may return to the U.S. at a steep tax discount if a repatriation holiday proposed in some tax reform proposals is implemented. Doing so would allow corporations to continue evading taxes by holding money abroad, according to the NGO.
Indonesia’s President Joko Widodo vowed to fight inequality as his top priority for 2017. But Widodo has a massive gap to close, according to a new report by Oxfam today: Just four men own more wealth than the poorest 40 percent of the country – about 100 million people.
Oxfam American is taking on the Trump administration over its executive order temporarily banning the entry of people from seven countries and completely halting Syrian refugee resettlement. The Boston-based group joined the ACLU of Massachusetts and state Attorney General Maura Healey in a lawsuit challenging President Donald Trump’s executive order. They argue that the order in unconstitutional and should be repealed.
Twenty-two humanitarian organizations in Myanmar released a joint statement Wednesday calling on the government military and armed ethnic groups to end the escalating conflict in Kachin and Shan states, protect civilians and allow the delivery of aid.
With 48 hours left as vice president of the United States, Joe Biden delivered his final speech yesterday to an assembly of the world’s wealthiest and most powerful people. “The top 1 percent is not carrying their weight,” he said. And while “external actors” pose a threat to democracy, inequality is “undermining support for the liberal international order from inside.”
Shocking new data reveals an “obscene” level of global wealth inequality, far worse than previously thought: Only eight men hold as much wealth as the poorest half of humanity – more than 3.6 billion people. The finding is among other equally jarring numbers in Oxfam’s latest report, released today as political and business leaders gather for the annual World Economic Forum in Davos, Switzerland, this week.
The World Economic Forum takes place again at Davos in a few weeks. The most newsworthy and powerful message that usually comes out of this confab of the rich and powerful is not some speech by Bono or Bill Gates but rather an Oxfam report that reminds everyone, as they have for the last few years, that less than a hundred people on the planet today own more than half the world’s population. Crazy, right? Our podcast from last year’s warning.
As world leaders and the development sector move to end extreme poverty by 2030, while dealing with unprecedented migration, global disease pandemics and climate change, everyone is wondering: What will development look like in the face of nationalist shifts in the Western World?
Aid officials say up to 90 percent of southern Haiti has been destroyed since Hurricane Matthew struck the impoverished nation…
Extreme poverty has declined worldwide while wealth inequality in many countries has increased, the World Bank reports, contending that these…