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G20 countries are the biggest losers when US multinationals avoid paying taxes where they do business. This is the main finding of a new report on the global tax system, ‘Still Broken,’ released by the Tax Justice Network, Oxfam, Global Alliance for Tax Justice and Public Services International today.Overall it is estimated that, in order to reduce their tax bills, US multinationals shifted between $500 and 700 billion—a quarter of their annual profits—out of the United States, Germany, the United Kingdom and elsewhere to a handful of countries including the Netherlands, Luxembourg…

The COVID-19 death toll has been four times higher in lower-income countries than in rich ones, according to a new report published today by Oxfam on behalf of the People’s Vaccine Alliance as the world marks two years since the World Health Organization declared the pandemic. 

The richest 1 percent have burned through their share of the annual global carbon budget —the amount of CO2 that can be added to the atmosphere without pushing the world beyond 1.5°C of warming— within the first 10 days of 2025, reveals new Oxfam analysis. 

Food inflation in some East African countries outstrips the global average leaving millions hungry, while food billionaires increased their wealth by $382bn over the last two years.

Half the world’s food is lost as waste and a billion people – one in every six of the world’s poorest – cannot access enough of the other half and so go hungry every day. Our leaders have another chance to put that right.

In response to reports that the first shipment of grain left Ukraine today, Eric Munoz, Oxfam America Food and Agriculture expert said:  “Oxfam welcomes this news but warns that lifting the grains blockade alone will not solve the global hunger crisis.”

This report describes some of the work that Oxfam International has done so far around the world in response to the coronavirus pandemic. Three months into the crisis, we have reached over 4.5m people and aim to reach 14m people by raising €100m. 

“The G20 reiterated previous commitments to reduce inequality, boost the participation of women in work and phase out inefficient fossil fuel subsidies. The G20 said they would draw up a proper response to the refugee and migrant challenge next year, which is too late. The world needs urgent action now, not more words.”

Today’s World Wealth Report from Capgemini shows that times have never been better for the world’s wealthiest - since 2009 more than 4.5 million new millionaires have been created, rising to a total of 15.4 million millionaires across the world last year. Yet while the wealthy prosper, 702 million people living in extreme poverty are being left behind.

Today, Oxfam publishes “Takers Not Makers” as business elites gather in the Swiss resort town of Davos and, billionaire Donald Trump backed by the world’s richest man, Elon Musk, is inaugurated as President of the United States. The report shows that globally, billionaire wealth grew by $2 trillion in 2024 alone, at a rate three times faster than the previous year.