US foreign development funding has been frozen after Donald Trump ordered a major review on foreign spending. Just hours after the start of his presidency, Trump issued an executive order for a 90-day pause in US-funded aid programmes pending a review of their efficiency and to see if they are in line with his foreign policy.

Last year marked the second-largest annual increase in billionaire wealth since records started, according to Oxfam.

Suspending funding "could have life or death consequences" for children and families around the world, warned the head of Oxfam America.

The President’s Emergency Plan for AIDS Relief, or PEPFAR, is credited with saving 25 million lives worldwide and has long enjoyed bipartisan support.

There is increasing disparity in the world today as an "aristocratic oligarchy" is amassing wealth at unforeseen levels, a report published by development organization Oxfam said. Published ahead of the World Economic Forum (WEF) in Davos,

In total, billionaire wealth skyrocketed by $2 trillion, adding more than 200 individuals to this cohort. The accumulation of riches at the very top is going so unchecked that Oxfam estimates there will be five trillionaires within the coming decade.

Oxfam report said billionaire wealth grew by $2 trillion last year, or roughly $5.7 billion a day, three-times faster than in 2023.

Oxfam Ireland CEO predicts incoming US president Donald Trump will 'slash taxes for the ultra-rich and mega-corporations at the expense of everyone else'

The Donald Trump administration has issued a freeze on new funding for almost all US foreign aid schemes. In the hours after his inauguration on Monday, President Trump issued a slew of executive orders, including a 90-day pause in US-funded global projects until their efficiency can be reviewed.

Ahead of today’s inauguration of President Donald Trump, Oxfam America President and CEO Abby Maxman released the followin

Billionaire wealth in Ireland increased by €35.6 million per day, Oxfam Ireland said upon the January 20 publication of Oxfam's "Takers Not Makers" report. There were two new billionaires in Ireland last year, Oxfam Ireland said on Monday, adding that Irish billionaire wealth could carpet the whole of Phoenix Park in €50 notes almost 1.5x over.