BlackRock strikes $23 billion deal for ports on both sides of Panama Canal amid US-China tensions

A consortium of investors, led by BlackRock, has agreed to take majority stakes in ports across both sides of the Panama Canal from Hong Kong-based conglomerate CK Hutchison for $22.8 billion. This comes amid pressure from US President Donald Trump, who has time and again called for the country to take control of the canal to limit Chinese interests in the region.