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San Francisco Chronicle
13 minutes ago
- San Francisco Chronicle
Hong Kong's CK Hutchison seeks Chinese investor to join Panama Ports deal
HONG KONG (AP) — A Hong Kong conglomerate that's selling ports at the Panama Canal said Monday it may seek a Chinese investor to join a consortium of buyers, a move that could please Beijing but bring more U.S. scrutiny to the geopolitically fraught deal. CK Hutchison Holdings' initial plan to sell port assets in dozens of countries to a group that includes U.S. investment firm BlackRock Inc. pleased President Donald Trump, who has alleged that China interferes with the critical shipping lane's operations in Panama. However, they apparently angered Beijing and drew a review from Chinese anti-monopoly authorities. A Hutchison subsidiary has operated ports at both ends of the Panama Canal since 1997. After months of uncertainty brought by tensions between Washington and Beijing, Hutchison said in a statement that the exclusive negotiations period with the consortium has expired. However, it added 'the Group remains in discussions with members of the consortium with a view to inviting major strategic investor from the PRC to join as a significant member of the consortium,' referring to the People's Republic of China. It said they needed to change the membership of the consortium and the structure of the transaction for the deal to be able to pass reviews by 'all relevant authorities." The awkward position Hutchison found itself in for months highlights the challenges Hong Kong business elites face in navigating Beijing's expectations of national loyalty, especially when relations between China and the United States are strained. Hong Kong has overhauled its electoral system to ensure the city is run by 'patriots.' CK Hutchison is owned by the family of Hong Kong's richest man, Li Ka-shing. It announced March 4 that it would sell all its shares in Hutchison Port Holdings and in Hutchison Port Group Holdings to the consortium that also includes BlackRock subsidiary Global Infrastructure Partners and Terminal Investment Limited, a subsidiary of the Mediterranean Shipping Company. In May, Hutchinson co-managing director, Dominic Lai told shareholders that Terminal Investment was the main investor. Its parent company is led by Italian shipping scion Diego Aponte, whose family reportedly has a longstanding relationship with Li's. The initial deal, valued at nearly $23 billion including $5 billion in debt, would have given the consortium control over 43 ports in 23 countries, including the ports of Balboa and Cristobal, located at either end of the canal. That agreement also required approval from Panama's government.
The Hill
43 minutes ago
- The Hill
Hong Kong's CK Hutchison seeks Chinese investor to join Panama Ports deal
HONG KONG (AP) — A Hong Kong conglomerate that's selling ports at the Panama Canal said Monday it may seek a Chinese investor to join a consortium of buyers, a move that could please Beijing but bring more U.S. scrutiny to the geopolitically fraught deal. CK Hutchison Holdings' initial plan to sell its port assets to a group that includes U.S. investment firm BlackRock Inc. pleased President Donald Trump, who has alleged that China interferes with the critical shipping lane's operations in Panama. However, they apparently angered Beijing and drew a review from Chinese anti-monopoly authorities. A Beijing-backed newspaper posted scathing commentaries about the deal, with one describing it as a betrayal of all Chinese. Beijing's offices overseeing Hong Kong affairs have reposted some of these commentaries, widely seen as an indication of Chinese leaders' stance. A Hutchison subsidiary has operated ports at both ends of the Panama Canal since 1997. After months of uncertainty brought by tensions between Washington and Beijing, Hutchison said in a statement that the exclusive negotiations period with the consortium has expired. However, it added 'the Group remains in discussions with members of the consortium with a view to inviting major strategic investor from the PRC to join as a significant member of the consortium,' referring to the People's Republic of China. It said they needed to change the membership of the consortium and the structure of the transaction for the deal to be able to pass reviews by 'all relevant authorities.' The awkward position Hutchison found itself in for months highlights the challenges Hong Kong business elites face in navigating Beijing's expectations of national loyalty, especially when relations between China and the United States are strained. Hong Kong has overhauled its electoral system to ensure the city is run by 'patriots.' CK Hutchison is owned by the family of Hong Kong's richest man, Li Ka-shing. It announced March 4 that it would sell all its shares in Hutchison Port Holdings and in Hutchison Port Group Holdings to the consortium that also includes BlackRock subsidiary Global Infrastructure Partners and Terminal Investment Limited, a subsidiary of the Mediterranean Shipping Company. In May, Hutchinson co-managing director, Dominic Lai told shareholders that Terminal Investment was the main investor. Its parent company is led by Italian shipping scion Diego Aponte, whose family reportedly has a longstanding relationship with Li's. The initial deal, valued at nearly $23 billion including $5 billion in debt, would have given the consortium control over 43 ports in 23 countries, including the ports of Balboa and Cristobal, located at either end of the canal. That agreement also required approval from Panama's government. The deadline for their exclusive negotiation period ended on July 27.
Hamilton Spectator
5 hours ago
- Hamilton Spectator
The Latest: Cool Kelly seals the win for England
BASEL, Switzerland (AP) — Defending champion England has won the Women's European Championship after defeating Spain in the final in a penalty shootout. Here's the latest: Cool Kelly seals the win Chloe Kelly says she was confident she would score on England's last spot kick. She stepped up as England's fifth shooter with a chance to decide the final after Salma Paralluelo's shot went wide for Spain. Kelly drew a deep breath, took three strides and blasted the ball into the top of the goal. 'I was cool, I was composed, and I knew I was going to hit the back of the net,' Kelly told Fox's broadcast. England wins on penalties England has defended its European title by defeating Spain in a penalty shootout. The game was tied at 1-1 after extra time. England won the shootout 3-1 with Chloe Kelly scoring the winning penalty kick. Extra time It's 1-1 at full time and the players are coming off the pitch for a quick break. Then it's extra time: two times 15 minutes to break the deadlock. England equalizer England equalized when Alessia Russo made it 1-1 in the 57th minute. Chloe Kelly whipped one of her trademark crosses into the box from the left and Russo rose above the defense to make it 1-1. Spain leads 1-0 at halftime Spain heads into the break in the lead after Mariona Caldentey's goal in the 25th. Both teams traded early blows but Spain looked stronger after the goal. La Roja kept most of the possession and did not allow England to threaten much. England also trailed at halftime in the quarterfinal against Sweden and semifinal against Italy, but still won both games. Spain takes the lead Mariona Caldentey has made it 1-0 for Spain in the 25th minute. Ona Batlle whipped in a cross from the right, after good work by Aitana Bonmati, and Caldentey headed it powerfully home. Closing ceremony Swiss former player Lara Dickenmann carried the trophy out onto the field after the closing ceremony of Euro 2025. A large circular banner was unfurled in the center of the field in tribute to the host nation, while smaller banners were displayed nearby with 'Thank You' in Switzerland's four official languages —Italian, French, German, and Romansh. Two large Alpine-inspired shapes were then carried onto the field, with the England flag on one and Spain's on the other. Nearly 30,000 inflatable clappers had been distributed to the fans beforehand, while 40 members of the closing ceremony cast also had them on the field. The Asturia Quartet, an all-female string ensemble, performed the national anthems. Del Castillo starts for Spain In somewhat of a surprise change, Athenea Del Castillo has been named in Spain's starting lineup in place of Claudia Pina. Del Castillo's only other start in the tournament was in the final group-stage match, against Italy, when many regular starters were rested with Spain already through. The Real Madrid forward scored one and set up another. She also scored the opener in the quarterfinal win against Switzerland just four minutes after coming onto the field. Pina was decisive the last time Spain played England, scoring twice to help her team to a 2-1 comeback victory in the Nations League last month. The only other change to Spain's lineup from its semifinal victory over Germany is the return of defender Laia Aleixandri from suspension, with María Méndez dropping back down to the bench. Spain's lineup: Coll; Batlle, Paredes, Aleixandri, Olga; Bonmatí, Patri, Putellas; Mariona, González, Del Castillo. James is back for England Lauren James has recovered from injury and starts for England with coach Sarina Wiegman making just one change. James had to come off at halftime in England's semifinal victory over Italy on Tuesday with an ankle problem and was seen applying ice to her injury during the match. James has started all five of England's games at Euro 2025 and has been named in the lineup for the final. Defender Jess Carter returns after being omitted from the starting lineup for the first time against Italy, for tactical reasons, two days after revealing she was the target of racist abuse online during the tournament. England's lineup: Hampton; Bronze, Williamson, Carter, Greenwood; Toone, Walsh, Stanway; James, Russo, Hemp. St. Jakob-Park is filling up Basel's soccer stadium has a capacity of 34,250 during Euro 2025 and no empty seats are expected at the final. With an hour to go until kickoff, thousands of fans have already taken their seats. Even before the final, the tournament has broken the total attendance record for a Women's European Championship. A total of 623,088 spectators have attended the 30 matches so far, surpassing the previous total attendance record of 574,875 from Euro 2022. Skies clear up after heavy rain in Basel There have been intermittent torrential showers and thunderstorms but that has not dampened the spirits of thousands of Spanish and England fans that have been gathering in the fan zones in Basel. The rain teemed down about two hours before kickoff but the sun came out shortly afterward and the skies above St. Jakob-Park have cleared up for now. Defending champions did it the hard way England got off to a rough start with a 2-1 defeat to France, becoming the first reigning champion to lose its opening match at a women's Euros. The team bounced back with a 4-0 victory over the Netherlands and a 6-1 thrashing of Wales. Then came the craziness of its quarterfinal against Sweden when it was trailing 2-0 with 12 minutes to go before equalizing and taking the match to extra time and a penalty shootout. There were nine failed penalty attempts before England finally triumphed 3-2. England left it even later in its semifinal against Italy. Teenager Michelle Agyemang leveled in stoppage time to force extra time and fellow substitute Chloe Kelly scored in the 119th minute to secure a 2-1 win, just as it appeared another penalty shootout was looming. (Almost) smooth sailing for Spain Spain swept through the group stage, winning all three matches against Portugal, Belgium and Italy — scoring 14 goals and conceding three. Spain found it tougher to get past Switzerland in the quarterfinals but finally broke the resistance of the host nation with two quickfire goals midway through the second half. Spain also missed two penalties and hit the woodwork three times. Like England, its semifinal lasted 120 minutes. It took a moment of magic from two-time Ballon d'Or winner Aitana Bonmatí in the 113th minute to secure a 1-0 win over Germany. ___ AP soccer:
