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CEO Daniel Zhang to succeed Jack Ma as chairman of Alibaba Group

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Mr. Ma will complete his current term as a member of Alibaba Group’s board of directors until its annual general meeting of shareholders in 2020.

 

Mr. Ma is a lifetime partner in the Alibaba Partnership and is a member of its partnership committee. The Alibaba Partnership is currently comprised of 36 partners who are also members of senior management of Alibaba Group or its affiliates. Pursuant to the articles of association of Alibaba Group, the Alibaba Partnership has the right to nominate a majority of the directors to the board of the company.

Mr. Ma in a letter to Alibaba’s customers, employees and shareholders said, “Today, as we mark the 19th anniversary of Alibaba, I am excited to share some news with you: with the approval of our board of directors, one year from today on September 10, 2019 which also falls on Alibaba’s 20th anniversary, Group CEO Daniel Zhang will succeed me as chairman of the board of Alibaba Group. While remaining as executive chairman in the next 12 months, I will work closely with Daniel to ensure a smooth and successful transition. Thereafter, I will stay on the Alibaba board of directors until our annual shareholders meeting in 2020.”

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Founded in 1999, Alibaba aims to last more than 102 years and for sustainability its build on sound governance, culture-centric philosophy, and consistency in developing talent.

“No company can rely solely on its founders. Of all people, I should know that. Because of physical limits on one’s ability and energy, no one can shoulder the responsibilities of chairman and CEO forever,” Mr. Ma added.

Daniel Zhang has been with Alibaba Group for 11 years. Since he took over as CEO, he has demonstrated his superb talent, business acumen and determined leadership. Under his stewardship, Alibaba has seen consistent and sustainable growth for 13 consecutive quarters. His analytical mind is unparalleled, he holds dear our mission and vision, he embraces responsibility with passion, and he has the guts to innovate and test creative business models.

Mr. Ma says he’ll plan on continuing his role as the founding partner in the Alibaba Partnership and contribute to the work of the partnership.

 

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NOCK begins training sportspersons on managing finances – KBC

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NOCK begins training sportsmen and women- sportspersons

The National Olympic Committee of Kenya has begun training sportsmen and women on drawing up a financial game plan that can sustain them in the event that sporting activities are grounded and beyond their active years.

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The training was organized following a recent survey which showed that 68% of the athletes are unemployed, 10% are in civil service and 6% in private companies.

The rest were students or self-employed.

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This meant that for most athletes, their income is largely irregular, either from training allowances or winnings from competitions.

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The investment options included capital preservations such as savings account with at least 6% annual returns, income generating tools such as business and capital growth investments such as shares and real estate.

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Floyd death homicide, official post-mortem says

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The official post-mortem examination of Mr Floyd by the Hennepin County Medical Examiner’s office also recorded evidence of heart disease and recent drug use. It said he suffered the cardiac arrest “while being restrained by a law enforcement officer” on 25 May.

The findings were released shortly after those of a private examination that was carried out by medical examiners hired by the Floyd family.

This report said Mr Floyd died from asphyxia (lack of oxygen) due to a compression on his neck and also on his back. It also found the death was a homicide, a statement from the family’s legal team said.

“The cause of death in my opinion is asphyxia, due to compression to the neck – which can interfere with oxygen going to the brain – and compression to the back, which interferes with breathing,” Dr Michael Baden, a former New York City medical examiner, said at a news conference on Monday.

Benjamin Crump, a lawyer for the Floyd family, said: “Beyond doubt he would be alive today if not for the pressure applied to his neck by officer Derek Chauvin and the strain on his body by two other officers.”

He added: “The ambulance was his hearse.”

What did Trump say?

Also on Monday, during a brief televised address from the White House’s Rose Garden, President Trump threatened to send in the military to end the protests if cities and states failed to control them.

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Speaking as the sounds of a nearby protest could be heard in the background, Mr Trump said “we are ending the riots and lawlessness” which he blamed on “professional anarchists” and anti-fascist group “Antifa”.

“I have strongly recommended to every governor to deploy the National Guard in sufficient numbers that we dominate the streets,” Mr Trump said.

The National Guard is the reserve military force that can be called on to intervene in domestic emergencies. About 16,000 of its troops have been deployed to deal with the unrest so far.

Mr Trump added: “If a city or state refuses to take the actions that are necessary… then I’ll deploy the United States military and quickly solve the problem for them.”

“I want the organisers of this terror to be on notice that you’ll face severe criminal penalties,” he said.

Earlier, President Trump told state governors they had been “weak” and had to get “much tougher” and utilise troops from the National Guard.

“You’ve got to arrest people, you have to track people, you have to put them in jail for 10 years and you’ll never see this stuff again,” Mr Trump said in a video conference call, according to US media.

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Top 5 budgeting tools in 2020

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If you find it hard to manage your spending and keeping your personal finances under control, you may need a budgeting tool to help you with that. Nowadays, there are many budgeting apps in the market for you to choose, which makes it even more difficult to pick one. You can try some of them to know which one is best for you. One app focuses on personal budgeting tools, while the other helps to track bills. One is special about giving the ability to assign each dollar, creating a total money management system. These tools will also send you warnings when you are about to overspend. 

There are a lot of things you need to control if you want to manage your budget, such as money management, personal finance… If you cannot decide which tools will be best for you, keep reading this article because here we sort out the best budgeting tools for you. 

Mint

Mint is one of the first and most popular budgeting apps in the market. Managed by Intuit, the same company that founds Quickbooks and TurboTax, Mint provides many features to help you track and control your money from a large number of banks, credit card issuers, brokerages, lenders, and other financial institutions. It has many useful features, the most beneficial is its budgeting tools, which is put right in the front and center when you sign in. Mint automatically classifies transactions from connected credit and debit cards and tracks them according to the budget you can adjust and customize to your demands. 

It will also notify when the amount of money you spend exceeds your budget, track your spending by category, or check out your total cash flow to get a complete picture of where you spend your money every month. 

You Need A Budget

You Need A Budget is really popular right now with a lot of fans calling it YNAB. You Need a Budget is really special compared to other budgeting tools. Because it doesn’t count on traditional budgeting buckets but you can make your budget depending on your income, giving every dollar a job in your budget. By jobs, I mean everything including living expenses to debt payments, savings, or investments. This way you cannot leave any money unaccounted so that you have to think carefully about every dollar you earn and spend. 

This app is ideal for both individuals and couples managing their budgets together. It comes with desktop and mobile interfaces and allows you to sync your bank accounts automatically or enter expenses manually, and the ability to track debt payoff and goal so that you will be encouraged to reach your money goals. 

Wally

Wally is not so easy to use when compared to other tools on this list, but it really does a good job in budgeting. With this tool, you can easily track your income and expenses because it gives you a snapshot of your remaining budget so that you won’t overspend. This app is more popular with Millenials because it is free to use and provides both IOS and Android versions. Another amazing thing of Wally is its built-in support for most of all foreign currencies, which makes people who don’t live in the US tend to choose it. 

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PocketGuard

As it’s called, PocketGuard will guard your pocket so that you won’t be overspending. This budgeting app can connect to all of your financial accounts and helps you track how much money you are spending compared to the money you earn during the month. What makes this app a good option is that it is easy to set up and link to your bank accounts. It tells you how much you are earning, follows what you are spending on recurring bills and everyday expenses, and tracks deposits in your saving account in a period of time.

This budgeting tool allows you to keep track of each individual bill and find chances to save. PocketGuard checks out everything for you from recurring bills from phone to TV, and Internet companies and helps you find a better deal on your monthly service fees. It doesn’t only help you keep track of your budget, but it also helps you reduce your spending. You can also check out some of the best mobile coupon apps to save money in 2020 to save even more. 

Goodbudget

Firstly known as Easy Envelope Budget Aid or EEBA, it was then changed to Goodbudget with the main feature of helping people share their budgeting process together. It takes advantage of the familiar envelope budgeting philosophy to manage your proactive budget for all of your bills and spending. 

Since you can easily share and sync budgets with budgeting partners across the iPhone and Android spectrum, this tool is ideal for couples who want to share finances, while being good for individuals too. This app is best to use on your smartphone, if you don’t have one, you can check out phone deals on special occasions to save money on a smartphone. When you put new transactions to this tool, you can choose to add a few details, dividing your expenses into many envelopes. You can manage your budget easily by category with up to 10 envelopes with no charge. Add money to your budget from your income and you will know how much money you have left so that you won’t spend money on unnecessary things. 


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