logo
Former German minister Lindner bids farewell as FDP picks new leader

Former German minister Lindner bids farewell as FDP picks new leader

Yahoo16-05-2025

Former German finance minister Christian Lindner bid farewell to his Free Democratic Party (FDP) on Friday with heavy criticism of Chancellor Friedrich Merz's new government.
Lindner stepped down as chairman of the FDP after leading the pro-business party to a disastrous result in February's national election, leaving it without a seat in the Bundestag, Germany's lower house of parliament.
At a party conference in the German capital, Lindner said the "majority of voters voted for less state and more freedom. What is now being delivered is more state and more debt."
"If the Merz government does not flank this new fiscal policy with reforms, then this decision on direction will first come back like a boomerang in economic terms and then at the ballot box in 2029," he added.
The former finance minister took a parting shot at Merz's conservative Christian Democratic Union (CDU) in his speech, saying: "I find it difficult to make quick changes to my basic political convictions. There are many in the CDU who have more talent for this than we do."
Lindner was fired as finance minister in November, leading the FDP to withdraw from former chancellor Olaf Scholz's coalition, which triggered the early election.
FDP appoints new chairman
Christian Dürr, the party's former parliamentary leader, was chosen to replace Lindner as FDP chairman on Friday evening, receiving 82% of the vote.
The FDP's current deputy leader, Wolfgang Kubicki, won re-election before the party's 600 delegates.
Henning Höne, FDP leader in the western state of North Rhine-Westphalia, and European lawmaker Svenja Hahn were selected to fill the two other deputy positions.
Other appointments, including of a new secretary general, were postponed until Saturday because of time constraints.
Dürr has proposed entrepreneur, Nicole Büttner, for the position of secretary general. She has been an FDP member for 20 years but has not yet stood in the national political spotlight.
Before his election, Dürr said he wanted to have a new policy programme drawn up and to reform the party's structures and processes.
"I want us to be the most modern party in Germany in terms of content," he said. "But I also want us to become the most modern party in the Federal Republic of Germany in terms of organization."
The new programme should not be limited to fundamental principles, he said, but should translate liberal goals and convictions into the concrete reality of people's lives.
Election catastrophe
The FDP won just 4.3% of the vote in February's election, falling short of the 5% threshold typically required to enter the Bundestag.
The party previously failed to reach 5% in 2013, leaving it on the margins of politics until 2017, when Lindner led it back into the Bundestag.
In 2021, the party joined the government in an unhappy coalition with Scholz's Social Democrats and the Greens, which eventually broke up late last year amid a breakdown in trust and wide differences over budgetary policy.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Asian shares climb, dollar eases ahead of US-China talks
Asian shares climb, dollar eases ahead of US-China talks

Yahoo

time18 minutes ago

  • Yahoo

Asian shares climb, dollar eases ahead of US-China talks

By Rocky Swift TOKYO (Reuters) - Shares jumped and the dollar pared recent gains on Monday as Asian markets reacted to better-than-expected U.S. jobs data ahead of talks in London aimed at mending a trade rift between the United States and China. Wall Street stocks had closed sharply higher on Friday after the jobs data eased concerns about damage to the world's biggest economy from President Donald Trump's unpredictable tariff regime. Safe-haven assets such as gold remained lower after steep selloffs. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5% in early trade on Monday. Hong Kong's Hang Seng Index surged 1.3%, touching the 24,000-point level for the first time since March 21. Japan's Nikkei stock index rose 0.9%. At the same time, a standoff in Los Angeles that led to Trump calling in the California National Guard to quell demonstrations over his immigration policies weighed on sentiment. The dollar slid 0.3% against the yen to 144.39, trimming its 0.9% jump on Friday. The European single currency was up 0.2% on the day at $1.1422. Top trade representatives from Washington and Beijing are due to meet for talks expected to focus on critical minerals, whose production is dominated by China. The discussions follow a rare call last week between Trump and Chinese President Xi Jinping. "Trade policy will remain the big macro uncertainty," said Kyle Rodda, a senior financial market analyst at "Signs of further momentum in talks could give the markets fresh boost to kick-off the week." U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent Washington in talks with China, Trump said in a social media post. China's foreign ministry said Vice Premier He Lifeng will be in Britain for the first meeting of the China-U.S. economic and trade consultation mechanism. U.S. employers added 139,000 jobs in May, data showed on Friday, fewer than the 147,000 jobs added in April, but exceeding the 130,000 gain forecast in a Reuters poll of economists. Attention now turns to inflation data on Wednesday that will feed into expectations for the timing of any rate cuts by the Federal Reserve. Markets are facing "mixed fortunes" on Monday as they balance optimism over trade and the U.S. economy against the potential for social unrest in California, said Jeff Ng, Head of Asia Macro Strategy at SMBC. "The trade talks, if there's any progress, may help as well, but markets may not have priced in a lot of breakthrough for that," Ng said. "In the meantime, we are also quite cognizant that in the U.S. there are protests in L.A. and the National Guard is also being sent in, so we have to be on the watch for event risk as well." Spot gold fell 0.2% to $3,303.19 an ounce. U.S. crude was little changed at $64.56 a barrel after a two-day gain.

Evri's DHL deal to create one of the UK's largest delivery firms
Evri's DHL deal to create one of the UK's largest delivery firms

Yahoo

time3 hours ago

  • Yahoo

Evri's DHL deal to create one of the UK's largest delivery firms

Evri is set to merge its e-commerce operations with rival DHL in a move that will reshape the UK's parcel delivery landscape and create one of the UK's largest delivery firms. The deal will see the creation of one of the country's largest delivery entities, handling a combined total of more than one billion parcels and one billion letters annually. As part of the agreement, German-owned DHL Group will acquire a "significant minority stake" in Evri, with US private equity firm Apollo, which acquired Evri last year for £2.7 billion, remaining the majority shareholder. The merged operations will function under the Evri Group banner, uniting a workforce of more than 30,000 couriers and van drivers, alongside an additional 12,000 employees. This merger marks a significant development in the UK's competitive delivery market, bringing together two major players to create a formidable force in parcel and letter delivery. They said the merger will offer 'greater choice and cost-competitive solutions' to businesses and consumers, and expand import and export capabilities. The deal will also see Evri entering the UK business letter market for the first time, bolstering its competition to Royal Mail. Martijn de Lange, chief executive of Evri, said: 'We are excited that DHL ecommerce UK will merge with Evri to bring together two highly complementary UK businesses, committed to innovation and offering customers and clients the best possible service. 'By combining Evri's scale, innovation and DHL ecommerce's best-in-class premium van network, we are creating the pre-eminent parcel delivery group in the UK.' Pablo Ciano, chief executive of DHL ecommerce, said: 'DHL ecommerce and Evri both stand for top service quality, reliability and sustainability, which makes this partnership a great fit for our customers. 'Together, we'll be able to offer more efficient, far-reaching and innovative solutions to keep up with the fast-paced e-commerce market.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

US-China trade talks to open in London as new disputes emerge
US-China trade talks to open in London as new disputes emerge

New York Post

time5 hours ago

  • New York Post

US-China trade talks to open in London as new disputes emerge

US-China trade talks in London this week are expected to take up a series of fresh disputes that have buffeted relations, threatening a fragile truce over tariffs. Both sides agreed in Geneva last month to a 90-day suspension of most of the 100%-plus tariffs they had imposed on each other in an escalating trade war that had sparked fears of recession. Since then, the US and China have exchanged angry words over advanced semiconductors that power artificial intelligence, 'rare earths' that are vital to carmakers and other industries, and visas for Chinese students at American universities. Advertisement 3 President Trump spoke at length with Chinese leader Xi Jinping by phone last Thursday in an attempt to put relations back on track. REUTERS President Trump spoke at length with Chinese leader Xi Jinping by phone last Thursday in an attempt to put relations back on track. Trump announced on social media the next day that trade talks would be held on Monday in London. The latest frictions began just a day after the May 12 announcement of the Geneva agreement to 'pause' tariffs for 90 days. Advertisement The US Commerce Department issued guidance saying the use of Ascend AI chips from Huawei, a leading Chinese tech company, could violate US export controls. That's because the chips were likely developed with American technology despite restrictions on its export to China, the guidance said. The Chinese government wasn't pleased. One of its biggest beefs in recent years has been over US moves to limit the access of Chinese companies to technology, and in particular to equipment and processes needed to produce the most advanced semiconductors. 'The Chinese side urges the US side to immediately correct its erroneous practices,' a Commerce Ministry spokesperson said. US Commerce Secretary Howard Lutnick wasn't in Geneva but will join the talks in London. Analysts say that suggests at least a willingness on the US side to hear out China's concerns on export controls. Advertisement 3 US Commerce Secretary Howard Lutnick will take part in the talks in London. One area where China holds the upper hand is in the mining and processing of rare earths. They are crucial for not only autos but also a range of other products from robots to military equipment. The Chinese government started requiring producers to obtain a license to export seven rare earth elements in April. Resulting shortages sent automakers worldwide into a tizzy. As stockpiles ran down, some worried they would have to halt production. Trump, without mentioning rare earths specifically, took to social media to attack China. Advertisement 'The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US,' Trump posted on May 30. 3 China dominates the mining and processing of rare earth minerals. REUTERS The Chinese government indicated Saturday that it is addressing the concerns, which have come from European companies as well. A Commerce Ministry statement said it had granted some approvals and 'will continue to strengthen the approval of applications that comply with regulations.' The scramble to resolve the rare earth issue shows that China has a strong card to play if it wants to strike back against tariffs or other measures. Student visas don't normally figure in trade talks, but a US announcement that it would begin revoking the visas of some Chinese students has emerged as another thorn in the relationship. China's Commerce Ministry raised the issue when asked last week about the accusation that it had violated the consensus reached in Geneva. It replied that the US had undermined the agreement by issuing export control guidelines for AI chips, stopping the sale of chip design software to China and saying it would revoke Chinese student visas.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store