Barclays Bank has today won a Public Eye ‘shame award’, for speculating on food prices. Barclays’ activity is fuelling hunger and poverty worldwide, says the World Development Movement, which nominated the bank.
The award was presented today in Davos, Switzerland, to coincide with the World Economic Forum.
Barclays is estimated to make up to £340 million a year from speculating in food ‘futures’ markets, making it the biggest UK player in the markets. Massive influxes of speculative money in food markets have been driving sharp price spikes, sending the cost of food soaring beyond the reach of the world’s poorest people. Continue reading “Barclays wins ‘shame award’ for food price speculation” »













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