Tag Archives: succession

Belarus leader seeks to empower son in succession move


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Next stop Mars: 3 spacecraft arriving in quick succession


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Merkel Party Chief Says Succession Team to Be Decided This Year

Merkel Party Chief Says Succession Team to Be Decided This Year(Bloomberg) — Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.The chief of Germany’s Christian Democrats aims to assemble her team to succeed Chancellor Angela Merkel by the end of this year, a move to assert her authority amid growing leadership uncertainty in Europe’s largest nation.Annegret Kramp-Karrenbauer, who as CDU leader is Merkel’s presumptive heir, signaled in an interview on Thursday that she opposes a call by a key Bavarian ally for a cabinet reshuffle by the summer.“For 2021, the CDU needs a new team for the future, with new faces, and we’ll put that in place this year,” Kramp-Karrenbauer, 57, told Bloomberg Television at the World Economic Forum in Davos, Switzerland. “For me, that’s a more important perspective than a short-term change.”Ever since Merkel stepped down as leader of the CDU at the end of 2018, the ruling coalition has been plagued by infighting as potential contenders jockey for positions to succeed her and Germany’s export-driven economy runs out of steam.Kramp-Karrenbauer herself has struggled to gain traction, garnering less than half the approval ratings of Merkel, who remains the country’s most popular politician.Read More:If Merkel Wants to Fix the German Economy, She Needs to Hurry UpMerkel Party Leader’s Ultimatum Contains Rebels, For NowMerkel Fends Off Another Hustle From Upstart Tipped for Her JobGermany Would Contribute to Any Libya Peace Force, CDU Head SaysAKK, as she’s known, will have to reinforce her position within the CDU if she wants to become the party’s candidate for the chancellorship in the next election, due in 2021 at the latest. Merkel has said she won’t run for a fifth term.Even after she fended off a leadership challenge in the CDU late last year, Kramp-Karrenbauer remains under scrutiny from the party’s conservative and business wings.One rival who has emerged is Bavarian Premier Markus Soeder, the chairman of the CDU’s sister party, the Christian Social Union. He made the call for Merkel to reshuffle the cabinet, an objective he hopes to deliver by the summer.While AKK initially said the idea could be discussed, on Thursday she pushed back on the proposal.“First we have to ensure that this government that we have now works as well and dynamically as possible. There’s room for improvement, we can do even better.”InvestmentsSuch improvements include streamlining investments and cutting red tape, she said.“The problem is that we are too slow and too complicated in the process. Not enough is invested as a result, and this is the construction site we need to work on,” she said.Germany’s economy expanded at 0.6% in 2019, its weakest growth in 6 years. But the government continues to generate large budget surpluses, prompting renewed calls for even larger spending growth and tax breaks. AKK said such surplus cash should be invested “sensibly” in infrastructure and the military.“If we look at our budget and our investment right now, we see that we have no problem with money,” she said. Surpluses “shouldn’t be tucked away for a rainy day,” but instead directed toward “investment in technologies of the future, in our infrastructure,” Kramp-Karrenbauer said.(Updates with quotes, context, detail throughout)To contact the reporters on this story: Patrick Donahue in Berlin at pdonahue1@bloomberg.net;Chad Thomas in Davos, Switzerland at cthomas16@bloomberg.netTo contact the editors responsible for this story: Ben Sills at bsills@bloomberg.net, Raymond Colitt, Andrew BlackmanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.



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Amazon pays zero federal taxes for second year in succession despite doubling profits, says new report

Amazon pays zero federal taxes for second year in succession despite doubling profits, says new reportAmazon has paid zero federal taxes for the second year in succession, despite a doubling of its profits, according to a new report. Although the tech giant founded by Jeff Bezos saw its profits grow from $ 5.6bn (£4.3bn) in 2017 to $ 11.2bn (£8.7bn) in 2018, it will actually receive a tax rebate of $ 129m (£100m). “The company’s newest corporate filing reveals that, far from paying the statutory 21 per cent income tax rate on its US income in 2018, Amazon reported a federal income tax rebate of $ 129m,” said the report by the Institute on Taxation and Economic Policy (ITEP), which describes itself as a “non-partisan, non-profit think tank”, based in Washington DC.



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Alibaba's Jack Ma to unveil succession plan next week, remain chairman

Alibaba's Jack Ma to unveil succession plan next week, remain chairmanAlibaba Group Holding Ltd’s billionaire co-founder Jack Ma will announce a succession plan on Monday to hand the reins of his sprawling empire to a new generation of leaders but will remain executive chairman for the time being. Ma will announce the plan on his 54th birthday and the handover strategy will stretch over a significant period of time, the South China Morning Post (SCMP) newspaper reported citing a company spokesman. Alibaba declined to comment but pointed towards the SCMP story when asked about Ma’s plans.



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Alibaba's Jack Ma to unveil succession plan next week, remain chairman

Alibaba's Jack Ma to unveil succession plan next week, remain chairmanAlibaba Group Holding Ltd’s billionaire co-founder Jack Ma will announce a succession plan on Monday to hand the reins of his sprawling empire to a new generation of leaders but will remain executive chairman for the time being. Ma will announce the plan on his 54th birthday and the handover strategy will stretch over a significant period of time, the South China Morning Post (SCMP) newspaper reported citing a company spokesman. Alibaba declined to comment but pointed towards the SCMP story when asked about Ma’s plans.



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Saudi king empowers young reformer son in succession shake-up

Saudi king empowers young reformer son in succession shake-upBy Stephen Kalin and William Maclean DUBAI (Reuters) – Saudi Arabia’s King Salman made his son next in line to the throne on Wednesday, handing the 31-year-old sweeping powers as the kingdom seeks radical overhaul of its oil-dependent economy and faces mounting tensions with regional rival Iran. Although Mohammed bin Salman’s promotion to crown prince was expected among those who follow the royal family closely, the timing was a surprise, putting the kingdom’s future in relatively untested hands. Mohammed bin Salman’s appointment may make Saudi policy more hawkish against long-time enemy Iran and other Gulf rivals such as Qatar, increasing volatility in an already unstable region, analysts say.



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Dalai Lama says Tibetan people should decide on his succession

Dalai Lama says Tibetan people should decide on his successionBy Sunil Kataria TAWANG, India (Reuters) – Tibetan spiritual leader the Dalai Lama said on Saturday the Tibetan people should decide if they wanted to continue with his institution, adding that he wanted to convene a meeting of senior monks this year to start discussing his succession. China, which brands the Nobel Peace laureate a dangerous separatist, says the tradition must continue and its officially atheist Communist leaders have the right to approve the Dalai Lama’s successor, as a legacy inherited from China’s emperors. “Whether this very institution of Dalai Lama should continue or not is up to Tibetan people,” the Dalai Lama told a news conference in the remote hill town of Tawang near the Chinese border in India’s northeastern state of Arunachal Pradesh.



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