Today Oxfam announced that the combined wealth of the richest 1% will overtake that of the other 99% of people next year unless the current trend of rising inequality is checked. Inequality is spiralling out of control, but consensus on taking action against this issue of our time is gathering pace.
In a speech on 18 March to the London Stock Exchange, international development secretary Justine Greening said the UK wants to make it easier for British businesses to get a slice of the aid budget. This sends a worrying signal that the government is putting the interests of the private sector ahead of the interests of the poor.
Aside from facing a few days off the trading floor last week in Wall Street, big banks will be the ones to benefit the most from the impacts of Hurricane Sandy. Wall Street and other financial centres, such as the City of London, have ridden the wave of extreme weather over the past year, including the drought in the US, driving food commodity prices to new heights.