Latest news with #Panama
Yahoo
6 hours ago
- Business
- Yahoo
China Threatens to Block $23B Port Deal Without Cosco Stake: Report
The Chinese government is reportedly threatening to nix the $23 billion port deal that has become a key front in its ongoing geopolitical tug-of-war with the U.S. Under the proposed sale, Hong Kong-based port operator CK Hutchison Holdings would hand ownership of more than 40 ports worldwide to a consortium including Mediterranean Shipping Company (MSC) and BlackRock. More from Sourcing Journal But according to a Thursday report from the Wall Street Journal, China wants to block the acquisition if its leading ocean carrier, Cosco Shipping, is not included in the deal. The deal includes the ports of Balboa and Cristóbal in Panama, both of which sit on the opposite sides of the Panama Canal. China has had the deal under antitrust review since March, delaying the official approval of the sale. The Panamanian government also still needs to approve the acquisition. The Chinese Communist Party (CCP) is pushing for Cosco to be an equal partner and shareholder of the ports alongside both BlackRock and MSC, which is the world's largest container shipping company, the report said. Talks between the current parties in the deal are expected to continue through July 27, which is the end of the 145-day exclusive negotiation period. Cosco would not be able to be part of the talks until that period ends. While BlackRock, MSC and Hutchison are reportedly open to Cosco taking a stake in the deal, U.S. lawmakers don't share the same feeling. When the deal was first announced in March, it was seen as a major victory for the Trump administration, which has been seeking to rid the Panama Canal of any alleged Chinese influence. The president has claimed that the U.S. must 'take back' the canal as part of his protectionist, 'America First' rhetoric, so including a Chinese buyer in the sale of the Balboa and Cristóbal ports would further inflame the situation again. The U.S. congressional committee on China remains concerned as Cosco floats in the background of the mega ports deal. After the Wall Street Journal article published Thursday, Chairman John Moolenaar (R-Mich.) of the House Select Committee on China made his letter to a top Panamanian official public. The letter expresses alarm that CCP-directed entities could be included as part of a transaction involving port concessions managed by CK Hutchison, which Moolenaar said would pose a direct threat to the national security of both Panama and the U.S.
Yahoo
a day ago
- Entertainment
- Yahoo
Lil Baby, Rick Ross & Lil Yachty to Appear in Season 2 of Druski's ‘Coulda Been House': Watch the Trailer
Druski's Coulda Been House is spinning the block. The comedic superstar announced the release of season two's CBH with a trailer arriving on Tuesday (July 15) featuring appearances from plenty of his famous rap friends. Premiering on July 17, Coulda Been House will pack 16 contestants and aspiring artists chasing their music dreams under one roof while competing for a grand prize of $50,000 and a record deal. More from Billboard Premios Juventud 2025 Will Take Place in Panama: Here's Everything We Know Demi Lovato Is Ready to Heat Up Summer With Sizzling Preview of Dance Floor-Ready 'Fast' Single Clipse Pay Tribute to Parents With Moving 'The Birds Don't Sing' Performance on 'Tonight Show' A star-studded lineup featuring Lil Baby, Rick Ross, Lil Yachty, Ray J, Saucy Santana, Bob Menery, Sway Calloway and Chocolate Droppa (Kevin Hart) will lend their expertise to CBH throughout a jam-packed season two. 'We're taking Coulda Been House to the next level — we have a bigger house, wilder artists and new special guests,' Druski said in a statement. 'This season is definitely going to be extreme, but the competition and pressure will be all worth it for the winner to sign with Coulda Been Records and cash that $50,000 check thanks to Raising Cane's.' As usual with his endeavors, look for a new track from Druski that will serve as the theme song for the upcoming season. Coulda Been House looks to build on a successful debut, which compiled more than 80 million views across the eight-episode first season and saw appearances from Snoop Dogg, Chris Brown and Birdman. Druski continues to stand on business with a busy 2025 campaign, which recently found him making multiple skit cameos on Justin Bieber's SWAG album in the role of the pop star's de facto therapist. Look for the premiere of Coulda Been House's season two at 9 p.m. ET on July 17 on Druski's YouTube channel. Watch the trailer of Billboard Chart Rewind: In 1989, New Kids on the Block Were 'Hangin' Tough' at No. 1 Janet Jackson's Biggest Billboard Hot 100 Hits H.E.R. & Chris Brown 'Come Through' to No. 1 on Adult R&B Airplay Chart Solve the daily Crossword
Yahoo
2 days ago
- Business
- Yahoo
Copa Holdings, S.A. (CPA) Reports 6.3% YoY Increase in Traffic for June; Citi and UBS Maintain Bullish Outlook
Trading at a low P/E multiple with potential upside for investors, Copa Holdings, S.A. (NYSE:CPA) is among the . For June 2025, Copa Holdings, S.A. (NYSE:CPA) reported experiencing strong traffic, driven by continued demand for air travel across its network. The company reported a higher passenger volume with its Revenue Passenger Miles (RPM), a critical measure of airline traffic, increasing by 6.3% on a YoY basis. Copa Holdings, S.A. (NYSE:CPA) expanded its Available Seat Miles (ASM), a measure of the passenger-carrying capacity, by 5.3% from June 2024 to cater to the growing demand. Most importantly, traffic growth surpassed capacity expansion, improving the airline's load factor – a measure of how full flights are. The load factor increased to 87.5% in June 2025 from 86.6% in the previous year. This performance of the company boosts investors' confidence in CPA's operational strength and continued post-pandemic travel recovery momentum. Analysts are bullish on the stock, with Citi and UBS setting their price targets at $159 and $180, respectively. Copa Holdings, S.A. (NYSE:CPA), a Panama-based airline holding company, owns two airlines: Panama-based Copa Airlines and Colombia-based AeroRepública. It is on the list of cheap transportation stocks. While we acknowledge the potential of CPA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: Billionaire Kerr Neilson's 10 Stock Picks with Huge Upside Potential and . Disclosure: None. Sign in to access your portfolio
Wall Street Journal
2 days ago
- Business
- Wall Street Journal
How China Set About Amassing European Shipping Ports
When Hong Kong-based CK Hutchison set plans to sell more than 40 ports in multiple nations to an American-led investment group, two facilities in Panama got most of the attention. But the real action is in Europe, where Chinese entities such as government-run Cosco have spent decades accumulating holdings. 🔎 Read more:
Wall Street Journal
3 days ago
- Business
- Wall Street Journal
How China Built a Global Port Network
When a Hong Kong conglomerate set plans this year to sell its global network of shipping ports to an American-led investment group, two facilities in Panama got most of the attention. But the real action is in Europe, where Chinese business interests have spent decades accumulating port holdings. Hong Kong-based CK Hutchison agreed in March to sell more than 40 ports in 23 nations to an investor group led by American financial firm BlackRock, and the parties had aimed to reach a definitive agreement on the $23 billion deal at month-end. Now, Beijing is trying to muscle into the deal and carve out a stake for its giant shipping group Cosco, The Wall Street Journal reported Thursday.
