British Prime Minister Theresa May's office confirmed that Penny Mordaunt has been appointed Britain's new minister for international development Cheap Nike Air Max 90 Sale , replacing Priti Patel who resigned on Wednesday over undisclosed meetings with Israeli officials that breached protocol.
May is grappling with crises on several fronts. Her team is struggling to make headway in exit talks with the EU, several ministers are embroiled in a wider sexual harassment scandal and her ability to command a majority in parliament is facing its most serious test.
Patel's resignation has forced May into her second cabinet reshuffle in a week after former defence minister Michael Fallon resigned in a sexual harassment scandal that has also led to investigations into the conduct of two other ministers including May's deputy. The instability in her top team adds to what is already a difficult situation for May.
An ill-judged snap election in June cost her party its majority in parliament and has sapped her authority at a time when she is trying to heal deep divisions within her own party and negotiate Britain's departure from the EU.
The European Parliament's Brexit negotiator doused hopes that those negotiations were nearing a breakthrough, saying "major issues" must still be resolved on safeguarding citizens' rights.
A fresh round of negotiations between Britain and the European Commission began on Thursday.
Progress in Brussels is vital to help May keep on side nervous businesses who say they urgently need to know what will happen when Britain leaves the bloc; otherwise they will be forced to start triggering contingency plans. On Wednesday EU envoys discussed delaying the launch of talks with London on a post-Brexit relationship to next year.
Sixteen months after Britain narrowly voted to leave the EU in a referendum, opinions are still split over Brexit at every level from voter to minister. Although May and her cabinet are united in their intention to take Britain out of the EU Cheap Nike Air Max Sale , her ministerial team is seen as a delicate balancing act between lawmakers who are still identified as "remainers" or "leavers" according to how they voted in the referendum.
(Agencies)
Beijing-based domestic Internet giant Baidu Inc and China CITIC Bank Corp jointly launched a direct bank Wednesday, competing with two other Internet giants in the country to offer financial services to consumers.
Internet giant Baidu Inc and China CITIC Bank Corp jointly launched a direct bank Wednesday Internet giant Baidu Inc and China CITIC Bank Corp jointly launched a direct bank Wednesday Internet giant Baidu Inc and China CITIC Bank Corp jointly launched a direct bank Wednesday Internet giant Baidu Inc and China CITIC Bank Corp jointly launched a direct bank Wednesday
A direct bank is an online bank without any branch network that offers its services via online platforms.
The new online bank, which will operate under the name of Baixin Bank, has 2 billion yuan ($313.19 million) in registered capital Cheap Air Max 2018 Sale , according to a filing by CITIC Bank posted on the website of the Shanghai Stock Exchange Wednesday.
CITIC's share price soared almost 10 percent on Wednesday, closing at 8.13 yuan.
Baidu's arch rivals Alibaba Group Holding and Tencent Holdings have already dipped a toe in the online bank sector.
E-commerce giant Alibaba launched its online bank, MYBank, in June. The bank aims to provide financial solutions to rural consumers and small businesses Cheap Air Max 2017 Sale , according to the company's website.
And Tencent, which runs the country's most popular social networking mobile app WeChat, established a privately owned commercial bank called WeBank in Shenzhen, South China's Guangdong Province Cheap Air Max 90 Sale , according to Tencent's annual report in March. Tencent and its partners invested 900 million yuan in WeBank, in which Tencent owns a 30 percent stake.
Compared to WeBank and Baixin Bank, Alibaba has edges in data processing with respect to Internet financing services, Li Chao Cheap Air Max Sale , an analyst at Beijing-based research firm iResearch, told the Global Times Wednesday.
He noted that Alibaba's ability to process big data has already been highlighted by its financial products, such as Yu'ebao.
However, it's not too late for Baidu to enter the online financial services sector Cheap Nike Air Max 2018 Shoes , which has yet to be predominantly controlled by Alibaba and Tencent, Li said.
More details such as the Baixin Bank's corporate structure and operating strategies have not yet been disclosed because the deal has not been approved by the related authorities yet, according to the CITIC filing.
"Baidu's scope extends from 'connecting people with information' to 'connecting people with services'," said Baidu CEO Robin Li Yanhong during the ceremony.
He also noted that the venture with CITIC Bank is considered to be the first substantial cooperation between an Internet company and a traditional bank.
Subject to the China Banking Regulatory Commission's approval Cheap Nike Air Max 2017 Shoes , Baixin Bank hopes to offer money management products to individuals as well as lend to consumers and small and medium-sized enterprises (SMEs), Hu Qichi, Baidu's PR representative, told the Global Times Wednesday.
She noted that the company has long served as a gateway for people to find financial services.
Baidu records more than 640 million users searching on its platform every month Cheap Nike Air Max 90 Shoes , according to an announcement sent by the company to the Global Times Wednesday.
"The company currently has 800,000 SME customers in search, and about 700,000 local merchants in its local e-commerce platform known as Nuomi. They are all potential targets for Baixin Bank's services Cheap Nike Air Max Shoes ," Hu noted.
Li said the company's online payment platform, Baidu Wallet, had launched a cash-back program with a maximum rebate of 20 percent that aims to support the new b. Hockey Jerseys Wholesale Wholesale Jerseys Wholesale Jerseys China Cheap Jerseys Online Cheap Jerseys Online Authentic NBA Jerseys Online Authentic Soccer Jerseys Wholesale Authentic MLB Jerseys From China Retro Soccer Jerseys Wholesale Nike NFL Jerseys From China