Hong Kong Conglomerate Sells Panama Canal Ports

A rundown of the news making headlines in and around China:

Panama ports: Hong Kong-based CK Hutchison Holdings Ltd. is selling a controlling position in its Panama port business, following pressure on the local government from U.S. President Donald Trump. A consortium led by BlackRock Inc. is buying the stake in Panama Ports Co., which runs two ports near the Panama Canal and more than 40 other ports globally, for around $19 billion. The deal shows the weight that Trump’s words carry: Panamanian authorities audited the company after he threatened to take back the waterway, citing China’s influence on the key U.S. trade route. The canal, which connects the Pacific and Atlantic oceans, was built and controlled by the U.S. until it was gradually handed over from 1977 — which Trump called a “foolish gift that should have never been made.”