Video: Barclays trader hurls abuse at construction workers

Olivier Desbarres fired after a video of him yelling abuse at construction workers in Singapore was posted online.

A Singapore-based Barclays trader has been fired after a video showing him hurling abuse at construction workers was posted online.

The clip shows Olivier Desbarres, who was formerly head of foreign exchange strategy for Asia Pacific at Barclays, shouting at men working on a building site next to his home in Singapore. He refers to them as “animals, Chinese fucking animals" and says "I’m going to burn your fucking house down with your fucking people in it." Watch it here (warning: very strong language):

According to the Wall Street Journal, the workers' firm has filed a police complaint, and the incident is being investigated. The WSJ report also confirms that Barclays executives did see the footage before deciding to fire Desbarres.

Caroline Crampton is assistant editor of the New Statesman. She writes a weekly podcast column.

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Lord Sainsbury pulls funding from Progress and other political causes

The longstanding Labour donor will no longer fund party political causes. 

Centrist Labour MPs face a funding gap for their ideas after the longstanding Labour donor Lord Sainsbury announced he will stop financing party political causes.

Sainsbury, who served as a New Labour minister and also donated to the Liberal Democrats, is instead concentrating on charitable causes. 

Lord Sainsbury funded the centrist organisation Progress, dubbed the “original Blairite pressure group”, which was founded in mid Nineties and provided the intellectual underpinnings of New Labour.

The former supermarket boss is understood to still fund Policy Network, an international thinktank headed by New Labour veteran Peter Mandelson.

He has also funded the Remain campaign group Britain Stronger in Europe. The latter reinvented itself as Open Britain after the Leave vote, and has campaigned for a softer Brexit. Its supporters include former Lib Dem leader Nick Clegg and Labour's Chuka Umunna, and it now relies on grassroots funding.

Sainsbury said he wished to “hand the baton on to a new generation of donors” who supported progressive politics. 

Progress director Richard Angell said: “Progress is extremely grateful to Lord Sainsbury for the funding he has provided for over two decades. We always knew it would not last forever.”

The organisation has raised a third of its funding target from other donors, but is now appealing for financial support from Labour supporters. Its aims include “stopping a hard-left take over” of the Labour party and “renewing the ideas of the centre-left”. 

Julia Rampen is the digital news editor of the New Statesman (previously editor of The Staggers, The New Statesman's online rolling politics blog). She has also been deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines. 

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