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☆ German media empire Axel Springer to split in deal with KKR
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: +3 min

Passers-by walk in front of the main entrance to the Axel Springer high-rise. The two sides had reached a deal in the summer to split Axel Springer, a source told Reuters on Saturday. KKR and its partner CPP Investments currently hold a 35.6% and 12.9% stake in Axel Springer, respectively, while Doepfner and Friede Springer hold 21.9% and 22.5%. Axel Springer had been preparing to float Stepstone but the planned initial public offering was shelved when war broke out in Ukraine in 2022. KKR and CPP Investments are now likely to target an IPO in the second half of 2025, according to an industry source.

Persons: Axel Springer, Mathias Doepfner, Axel Springer's, Springer, Friede Springer, Axel's, Doepfner, Friede Organizations: Politico, KKR, Reuters, Investments, Friede Springer, Springer Locations: Hamburg, North America, Aviv, Ukraine

☆ Why oil companies are raking in record profits under Joe Biden
▼ + stars: | 2024-06-11 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

CNN —Nearly four years ago, while campaigning in the runup to the last presidential election, Donald Trump warned that President Joe Biden would “destroy” the oil industry. In the last three and a half years, US oil production — and oil and gas company profits — have broken records. That’s a 160% jump compared to the first three years of the pro-big-oil Trump administration, according to calculations by CNN. However, in March, the Biden administration approved ConocoPhillips’ massive Willow oil drilling project on Alaska’s North Slope, which holds around 600 million barrels of oil, angering climate advocates. Despite his mixed record with oil and gas companies, though, Biden has presided over a historic run for the industry, Kloza said.

Persons: Donald Trump, Joe Biden, Trump, Biden, That’s, —, Tom Kloza, ”, Hess, Chevron’s, Abdullah Hasan, Darren Woods, Mike Wirth, Woods, Obama, Bob McNally, Kloza, ” Kloza, “ It’s Organizations: CNN, Global, ExxonMobil, Chevron, ConocoPhillips, Resources, Schlumberger, Oil Price Information Service, US Energy Information Administration, Oil, Natural Resources, Exxon, White, Shareholders, Microsoft, Apple, The Washington Post, Keystone XL, Rapidan Energy Group, Republican Locations: United States, Ukraine, Boon, dealmaking, The

☆ I had to put LinkedIn workers on performance-improvement plans — then I got laid off myself
▼ + stars: | 2024-04-12 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +7 min

LinkedIn then laid off more than 1,400 workers in two rounds of job cuts last year. AdvertisementThis as-told-to essay is based on a transcribed conversation with a former senior engineering manager at LinkedIn. During the pandemic, we sort of lowered the bar of performance expectations. If they are already starting to be a little cold or reserved, it's unlikely you're going to change their mind. 'Kill list' leaked on BlindLinkedIn laid off 716 sales, operations, and support workers in May 2023.

Persons: —, they're, could've, it's, texted Organizations: LinkedIn, Service, Business

If General Atlantic decided to sell its stake, a deal could now garner more interest from investors, the sources said. A deal could value the company, which assesses global oil prices and provides industry news, at north of 4 billion pounds ($5.08 billion), Reuters previously reported. Deliberations remain at an early stage and General Atlantic and Hg may decide not to proceed with a transaction, two of the people said. Argus Media, Hg and General Atlantic declined to comment. Hg bought half of General Atlantic's 50% stake in Argus in 2019, valuing the business at more than 2 billion pounds then.

Persons: Adrian Binks, Amy, Jo Crowley, Victoria Farr, Mark Porter Organizations: Argus Media, Reuters, Private, Investments, Atlantic, Atlantic's, Argus, Astorg, Thomson Locations: GIC, London, Argus, Frankfurt

☆ Activist fund Anson takes Twilio stake, urges board to sell
▼ + stars: | 2023-11-28 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Activist investor Anson Funds has built a stake in Twilio and sent a letter to the enterprise software company's board pushing for the sale of the entire business, a person familiar with the matter told CNBC. The letter to the board urges Twilio to either sell itself or at a minimum, divest its data and applications business, the person familiar said. "Twilio regularly engages with shareholders and appreciates constructive input that furthers our goal of creating sustainable long-term value," a Twilio spokesperson told CNBC in a statement. The continued activist attention caps off a challenging year for Twilio, which makes software that helps businesses engage with their customers. In March, Silver Lake and CPP Investments announced a deal to take survey software company Qualtrics private in a $12.5 billion deal.

Persons: Jeff Lawson, Anson, Twilio, Sagar Gupta, Gupta Organizations: Twilio Inc, New York Stock Exchange, CNBC, Legion Partners, The, Twilio, Communications, Tech, Investments, IBM, Cisco, CNBC PRO Locations: New York, Twilio, Silver

☆ Canada warns of economic uncertainty if Alberta quits national pension plan
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Susana Vera/File Photo Acquire Licensing RightsOTTAWA, Nov 3 (Reuters) - Canada will face rising economic uncertainty if the province of Alberta carries out a threat to withdraw from the Canada Pension Plan (CPP), federal Finance Minister Chrystia Freeland said on Friday. Alberta Finance Minister Nate Horner later on Friday said the province would not leave fellow Canadians without a stable pension and its associated benefits. "For the past several weeks, Alberta has been having an open discussion about the possibility of establishing an Alberta Pension Plan that will benefit our seniors and workers," he said. The so-called Alberta Pension Protection Act would require Albertans to vote in favor of a pension plan for the province during a public referendum before the provincial government would seek to withdraw assets, the statement said. "Alberta would need to negotiate complex time-consuming portability agreements with the CPP and with the Quebec Pension Plan," she said.

Persons: Finance Chrystia Freeland, Susana Vera, Chrystia Freeland, Freeland, Nate Horner, Justin Trudeau's, Danielle Smith's, Smith, Trudeau, Pierre Poilievre, Maiya Keidan, David Ljunggren, Kirsten Donovan, Paul Simao Organizations: Finance, IMF, World Bank, REUTERS, Rights OTTAWA, Canada, federal, Alberta, Liberal, Danielle Smith's United Conservative Party, Conservative Party, Thomson Locations: Marrakech, Morocco, Canada, Alberta, Quebec, Toronto, Ottawa

☆ Canada says Alberta leaving CPP would add to economic uncertainty
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Susana Vera/File Photo Acquire Licensing RightsOTTAWA, Nov 3 (Reuters) - If the Canadian province of Alberta carries out a threat to withdraw from the Canada Pension Plan (CPP) it would add to economic uncertainty and hurt everyone in the country, federal Finance Minister Chrystia Freeland said on Friday. The so-called Alberta Pension Protection Act would require Albertans to vote in favor of a pension plan for the province during a public referendum before the provincial government would seek to withdraw assets, said the statement. But when asked whether she found it realistic that Alberta was entitled to 53% of CPP assets in 2027, according to a study commissioned by the Alberta government, Freeland said she did not. Freeland also cautioned that the Alberta government would need to negotiate how Canadians could live and work anywhere in Canada without jeopardizing their retirement. "Alberta would need to negotiate complex time-consuming portability agreements with the CPP and with the Quebec pension plan," she said.

Persons: Finance Chrystia Freeland, Susana Vera, Chrystia Freeland, Freeland, Danielle Smith's, Smith, Justin Trudeau, Pierre Poilievre, Maiya Keidan, David Ljunggren, Kirsten Donovan Organizations: Finance, IMF, World Bank, REUTERS, Rights OTTAWA, Canada, federal, Conservative Party, Thomson Locations: Marrakech, Morocco, Canadian, Alberta, Canada, Quebec, Toronto, Ottawa

☆ Explainer: What's at stake as Alberta seeks to split from Canada Pension Plan
▼ + stars: | 2023-11-01 | by ( Maiya Keidan | ) www.reuters.com time to read: +4 min

TORONTO, Nov 1 (Reuters) - Canadian Finance Minister Chrystia Freeland will seek to challenge Alberta Premier Danielle Smith's plan to pull her province out of the Canada Pension Plan (CPP), in a meeting with provincial and territorial counterparts on Friday. A nationwide pension scheme called CPP that took contributions from paychecks began in the late 1960s. CPP Investments - an entity to manage its assets - was created in 1997 by the Canada Pension Plan Investment Board Act. AIMCo has not been considered a vehicle for a new Alberta pension plan. If Alberta walks away with more than 22.5% of assets, CPP contributions from everywhere else in the country would have to increase, Tombe estimates.

Persons: Chrystia Freeland, Danielle Smith's, Justin Trudeau, Pierre Poilievre, paychecks, AIMCo, SMITH, Smith, Patrik Marier, Trevor Tombe, Tombe, Maiya Keidan, Deepa Babington Organizations: TORONTO, Canadian Finance, Canada, Conservative Party, CPP Investments, Plan Investment, Investments, Alberta Investment Management Corp, Concordia University, University of Calgary, British Columbia, Thomson Locations: Quebec, Alberta, Ottawa, ALBERTA, Western, Ontario

The Goldman Sachs company logo is on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Oct 11 - Goldman Sachs (GS.N) has agreed to sell GreenSky, its home improvement lender, and associated loans to a consortium led by investment firm Sixth Street Partners, it said on Wednesday. The charge on earnings equates to about $62 million, according to Reuters calculations based on Goldman Sachs' outstanding shares. Goldman Sachs declined to comment on the price. "We plan to continue the company's legacy of driving growth through enhanced technology and great user experiences," said Alan Waxman, co-founder and CEO of Sixth Street.

Persons: Goldman Sachs, Brendan McDermid, Goldman, David Solomon, Solomon, Alan Waxman, GreenSky, Saeed Azhar, Niket, Lananh Nguyen, Leslie Adler, Diane Craft Organizations: New York Stock Exchange, REUTERS, Sixth Street Partners, Wall Street, Street Journal, Sixth, KKR, Bayview Asset Management, Pacific Investment Management Co, Investments, Thomson Locations: New York City, U.S, Bayview, Bengaluru

☆ Commodities is something we are actively looking at right now: CPP Investments CIO Edwin Cass
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCommodities is something we are actively looking at right now: CPP Investments CIO Edwin CassEdwin Cass, CPP Investments CIO, Tina Byles Williams, Xponance founder and CEO, and Jase Auby, Teacher Retirement System of Texas CIO, join CNBC's Delivering Alpha 2023 conference to discuss continued market demand amid higher interest rates, where the opportunities are for investment, and more.

Persons: Edwin Cass Edwin Cass, Tina Byles Williams, Jase Auby Organizations: Commodities, Texas CIO, CNBC's, Alpha

☆ Private credit is on the upswing because of the attractive returns, says Jase Auby
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPrivate credit is on the upswing because of the attractive returns, says Jase AubyEdwin Cass, CPP Investments CIO; Tina Byles Williams, Xponance founder and and CEO; and Jase Auby, Teacher Retirement System of Texas CIO, join CNBC's Delivering Alpha 2023 conference to discuss continued market demand amid higher interest rates, where the opportunities are for investment, and more.

Persons: Jase Auby Edwin Cass, Tina Byles Williams, Jase Auby Organizations: Texas CIO, CNBC's, Alpha

☆ You have to have a long-term outlook on oil and gas: Texas Teacher Retirement System's Jase Auby
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYou have to have a long-term outlook on oil and gas: Texas Teacher Retirement System's Jase AubyEdwin Cass, CPP Investments CIO, Tina Byles Williams, Xponance founder and CEO, and Jase Auby, Teacher Retirement System of Texas CIO, join CNBC's Delivering Alpha 2023 conference to discuss continued market demand amid higher interest rates, where the opportunities are for investment, and more.

Persons: Jase Auby Edwin Cass, Tina Byles Williams, Jase Auby Organizations: Texas CIO, CNBC's, Alpha Locations: Texas

☆ The first victim of the $33T national debt is the U.S. dollar: Xponance CEO Tina Byles Williams
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe first victim of the $33T national debt is the U.S. dollar: Xponance CEO Tina Byles WilliamsEdwin Cass, CPP Investments CIO; Tina Byles Williams, Xponance founder and and CEO; and Jase Auby, Teacher Retirement System of Texas CIO, join CNBC's Delivering Alpha 2023 conference to discuss continued market demand amid higher interest rates, where the opportunities are for investment, and more.

Persons: Tina Byles Williams Edwin Cass, Tina Byles Williams, Jase Auby Organizations: U.S ., Texas CIO, CNBC's, Alpha Locations: U.S

☆ Leaving Canada Pension Plan could save Albertans billions, says study
▼ + stars: | 2023-09-21 | by ( Maiya Keidan | ) www.reuters.com time to read: +4 min

"I believe that an Alberta pension plan would be fairer," Premier Danielle Smith told a news conference on Thursday. However, he noted the pension respects the right of Albertans to consider withdrawing from the Canada Pension Plan. Albertans will have until spring 2024 to submit views on a provincial pension plan to a panel, which will submit a report to the Albertan government. Former Premier Jason Kenney announced in June 2020 that his government would study a recommendation from a panel to replace the CPP with a provincial plan. Any province has the right to withdraw under the Canada Pension Plan Act but written notice is required, enabling legislation has to be passed and the value of assets to be transferred must be negotiated.

Persons: Danielle Smith, Todd Korol, LifeWorks, Smith, Michel Leduc, Albertans, Chrystia Freeland, Premier Jason Kenney, Maiya Keidan, Steve Scherer, Barbara Lewis, Josie Kao Organizations: United Conservative Party, REUTERS, Rights, Canada, Global, Public Affairs, Communications, Investments, Plan . Finance, Premier, CPP, Investment Board, Thomson Locations: Calgary , Alberta, Canada, Canadian, Alberta, Ottawa, Province of Alberta, Quebec

☆ Indian shares set to open lower with HDFC, Fed decision in focus
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

India's GIFT Nifty (.GIFc1) on the NSE International Exchange was down about 0.1% at 20,080.5 points, as of 8.20 a.m IST. HDFC Bank (HDBK.NS) on Monday said its gross non-performing assets will likely increase as of July 1, after its merger with HDFC. CPP had increased its investment in Indian markets to about $15 billion, as of the fiscal year ending March. Foreign investors sold 12.37 billion rupees ($148.64 million) worth of shares on a net basis on Monday, while their domestic counterparts bought 5.53 billion rupees worth of equity, according to stock exchange data. ($1 = 83.2230 Indian rupees)Reporting by Archishma Iyer in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Niharika Kulkarni, Archishma Iyer, Sonia Cheema Organizations: Bombay Stock Exchange, REUTERS, HDFC Bank, U.S . Federal, NSE, BSE, HDFC, Investors, Bharat Dynamics, IAF, Thyrocare, Tata Motors, Thomson Locations: Mumbai, India, Canada, Bengaluru

☆ India-Canada relations: how could trade be affected as tensions rise?
▼ + stars: | 2023-09-19 | by ( Manoj Kumar | ) www.reuters.com time to read: +5 min

On Tuesday, New Delhi dismissed the allegations as "absurd", and asked Canada instead to crack down on anti-India elements operating in its territory. Here is what is at stake for both countries:HOW ARE TRADE TALKS AFFECTED? Steady growth has seen goods trade rising to $8 billion in 2022, with Indian exports to Canada touching $4 billion and imports from Canada also worth $4 billion. Pharmaceutical products, worth about $418 million, made up the bulk of Indian exports last year, followed by iron and steel products worth about $328 million and machinery, nuclear reactors and boilers worth about $287 million. India's growing demand for imported lentils has benefited Canadian farmers, while Indian pharmaceutical and software companies have expanded their presence in the Canadian market.

Persons: Hardeep Singh Nijjar, Nanak, Chris Helgren, Justin Trudeau, Canpotex, Manoj Kumar, Arpan Varghese, Jaiveer, Clarence Fernandez, Anil D'Silva Organizations: REUTERS, Trading Economics, UN, Canpotex, Pharmaceutical, Caisse, Ontario Teachers, Bombardier, SNC Lavalin, TCS, Infosys, Wipro, Canadian Bureau of International Education, Thomson Locations: Surrey, British Columbia, Canada, DELHI, India, New Delhi, India's, Punjab, Bengaluru

☆ India-Canada row: What is at stake?
▼ + stars: | 2023-09-19 | by ( Manoj Kumar | ) www.reuters.com time to read: +3 min

Here is what is at stake for both countries:HOW ARE TRADE TALKS AFFECTED? Steady growth has seen goods trade rising to $8 billion in 2022, with Indian exports to Canada touching $4 billion and imports from Canada also worth $4 billion. India's growing demand for imported lentils has benefited Canadian farmers, while Indian pharmaceutical and software companies have expanded their presence in the Canadian market. WHAT IS THE ROLE OF INDIAN STUDENTS IN CANADA? Since 2018, India has been the largest source country for international students in Canada.

Persons: Justin Trudeau, Manoj Kumar, Clarence Fernandez Organizations: Bombardier, SNC Lavalin, TCS, Infosys, Wipro, Canadian Bureau of International Education, Thomson Locations: DELHI, India, Canada, New Delhi, India's, Punjab

Cinven, CPP Investments, EQT, Evercore and Morgan Stanley declined to comment. Hotelbeds' shareholders had been considering a private sale as an alternative to an IPO, the people said. Should it list in Spain, Hotelbeds' would be one of the largest IPOs the country has seen in recent years. Majorca-based Hotelbeds offers travel agencies, airlines and tour operators access to hotel rooms worldwide in what it describes as a "bedbank". Hotelbeds said it had its best fortnight ever in booking revenue earlier this year, recording a booking per second at peak times.

Persons: Nacho, Evercore, Morgan Stanley, Cinven, Hotelbeds, Andres Gonzalez, Pablo Mayo, Anousha Sakoui, Nick Zieminski Organizations: REUTERS, Reuters, Investments, Pablo Mayo Cerqueiro, Thomson Locations: Santa Cruz, Canary, Spain, Madrid, Majorca, London

U.S. Commerce Secretary Gina Raimondo's trip to China last month had promised some economic and trade detente between the two superpowers now at loggerheads. And none of the 222 funds polled expected China economic growth to be any higher next year than this - mirroring a recent Reuters survey of domestic and overseas banks and investors. As these sorts of surveys go, there's an awful lot in there that could spell "peak gloom". Indeed, shorting China equities was deemed the second "most crowded trade" behind long exposure to supercharged Big Tech stocks. Even if the economy turns, political catalysts for a return to China may be slow in coming.

Persons: Aly, Gina Raimondo's, it's, Jamie Dimon, Jay Clayton, Jenny Johnson, Franklin Templeton, Willem Sels, Mike Dolan, Sharon Singleton Organizations: REUTERS, . Commerce, Bank of, Big Tech, Reuters, Reuters Graphics Reuters, JPMorgan, Investments, The Ontario Teachers, Caisse, Franklin, HSBC Private Banking, Thomson Locations: Shanghai, Shenzhen, China, loggerheads, Wall, Asia, Silicon Valley, Hong Kong, Temasek, Bridgewater, Blackrock, India, Indonesia, Washington, United States

The Chinese national flag is seen in front of the financial district Central on the Chinese National Day in Hong Kong, China October 1, 2022. Most were on the fund's private equity team and were informed early last month, according to two of the people. CPP, which employs more than 150 people in Hong Kong, its Asia hub, declined to comment. The Ontario Teachers' Pension Plan (OTPP) closed down its China equity investment team based in Hong Kong in April, Reuters has reported. There have been $3.2 billion worth of acquisitions of firms in China by private equity so far this year.

Persons: Tyrone Siu, Gina Raimondo, Canada's, Michel Leduc, Julie Zhu, Kane Wu, Edwina Gibbs Organizations: REUTERS, Investments, U.S, . Commerce, The Ontario Teachers, Reuters, Caisse, Financial Times, Thomson Locations: Central, Hong Kong, China, HONG KONG, Asia, Canada, U.S, Washington, Shanghai

☆ Meta rejects recommendation to suspend former Cambodia PM from Facebook
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +3 min

Hun Sen speaks at a press conference at the National Assembly after a vote to confirm his son, Hun Manet, as Cambodia's prime minister in Phnom Penh, Cambodia, August 22, 2023. Meta, in a written statement, agreed to take down the video but said it would respond to the board's recommendation to suspend Hun Sen after a review. Cambodia barred the 22-member oversight board from the country, declaring the recommendation was "political" in nature. Hun Sen remains influential in Cambodia and after stepping aside vowed to stay in politics for at least another decade. Cambodia's Ministry of Post and Telecommunications on its Facebook page on Tuesday "congratulated" Facebook for its decision and reiterated that the Meta oversight board was still unwelcome.

Persons: Hun Sen, Hun Manet, Cindy Liu, Hun, Fanny Potkin, Martin Petty Organizations: National Assembly, REUTERS, Meta, Cambodian People's Party, Facebook, Cambodia's Ministry of Post, Telecommunications, Thomson Locations: Phnom Penh, Cambodia

☆ Explainer: Cambodia's new leader Hun Manet, strongman or reformer?
▼ + stars: | 2023-08-22 | by ( Martin Petty | ) www.reuters.com time to read: +5 min

Hun Manet, nominee for Cambodia's prime minister, gestures as he registers at the National Assembly on the day that parliament votes to confirm the country's next prime minister, in Phnom Penh, Cambodia, August 22, 2023. The eldest of Hun Sen's five children, Hun Manet was born in 1977 in rural Cambodia. Hun Manet is married to Pich Chanmony, the daughter of a prominent Cambodian politician and has three children. In late 2021, Hun Sen declared Hun Manet his anointed successor and he was later endorsed by the CPP as "future prime minister". WHAT KIND OF LEADER WILL HUN MANET BE?

Persons: Hun Manet, Cindy Liu, Hun Sen, Will Hun Manet, Hun Sen's, Manet, Pich Chanmony, HUN MANET, Michael Perry Organizations: National Assembly, REUTERS, New York University, Britain's Bristol University, Cambodian People's Party, CPP, U.S ., ASEAN Business Council, Reuters, Thomson Locations: Phnom Penh, Cambodia, Cambodian, United States, Britain, China, U.S, New York

☆ New Cambodian cabinet to feature children of the powerful
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

Hun Manet, son of Cambodia's Prime Minister Hun Sen, looks on at the final Cambodian People's Party (CPP) election campaign for the upcoming general election in Phnom Penh, Cambodia, July 21, 2023. REUTERS/Cindy Liu/File PhotoAug 11 (Reuters) - Outgoing Cambodian Prime Minister Hun Sen has unveiled a list of people expected to feature in a new cabinet, including several sons and daughters of close allies and serving ministers. The rubber-stamp parliament is set to approve the new prime minister and cabinet on Aug. 22. While giving up the job of prime minister, Hun Sen looks set to remain engaged with government. This week, Hun Sen announced that Khuon Sodary had been designated as president of the National Assembly, the first woman to hold the position.

Persons: Hun Manet, Cambodia's, Hun Sen, Cindy Liu, Cham, Sar Sokha, Sar, Seiha, Tea, Hun Sen's, Khuon Sodary, Kanupriya Kapoor, Robert Birsel Organizations: Cambodian People's Party, REUTERS, Cambodian, World Bank, National Assembly, Reuters, Thomson Locations: Phnom Penh, Cambodia

☆ Cambodia king approves nomination of Hun Manet as next PM
▼ + stars: | 2023-08-07 | by ( Prak Chan Thul | ) www.reuters.com time to read: +2 min

[1/2] Hun Manet, son of Cambodia's Prime Minister Hun Sen is seen at a polling station on the day of Cambodia's general election, in Phnom Penh, Cambodia, July 23, 2023. REUTERS/Cindy Liu/File PhotoPHNOM PENH, Aug 7 (Reuters) - Cambodia's king has approved the nomination the eldest son of Prime Minister Hun Sen to become the next premier, according to a decree published on Monday, confirming a long-awaited transition of power. Hun Manet, 45, was educated in the United States and Britain, where has received a master decree and doctorate respectively, both in economics. Hun Manet has said little of his vision for the country. Reporting by Prak Chan Thul; Writing by Martin Petty; Editing by Christian Schmollinger, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Hun Manet, Cambodia's, Hun Sen, Cindy Liu, Western, Prak Chan Thul, Martin Petty, Christian Schmollinger, Robert Birsel Organizations: REUTERS, Telegram, National Assembly, Cambodian People's Party, Point, Thomson Locations: Phnom Penh, Cambodia, PHNOM PENH, Khmer, United States, Britain

☆ Cambodia’s king approves nomination of Hun Manet as next Prime Minister
▼ + stars: | 2023-08-07 | by ( ) edition.cnn.com time to read: +1 min

Cambodia’s king has approved the nomination of the eldest son of Prime Minister Hun Sen to become the next premier, according to a decree published on Monday, confirming a long-awaited transition of power. The decree endorsing Western-educated army general Hun Manet, 45, was shared on the Telegram channel of his father and signals the imminent end of the former Khmer Rouge guerrilla’s nearly four decades at the helm of a country rebounding from decades of war and poverty. Hun Manet, 45, was educated in the United States and Britain, where received a master’s degree and doctorate respectively, both in economics. He is also a graduate of the prestigious West Point military academy in the United States and has served as Cambodia’s deputy armed forces commander-in-chief. Hun Manet has said little of his vision for the country.

Persons: Hun Sen, Western, Hun Manet Organizations: Telegram, National Assembly, Cambodian People’s Party, Point Locations: Khmer, United States, Britain, Phnom Penh

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