Read It And Eat [31/03/2025]

David Abam
Mar 31
3 min read

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Major Headlines

BlackRock Attempts to Buy Both Ends of the Panama Canal Port Operator Due to Trump’s Pressure to Curb China’s Influence in Panama – Deal Faces Chinese Review
The telecoms-to-retail conglomerate owned by tycoon Li Ka-shing this month agreed to sell most of its $22.8 billion global ports business, including assets along the strategically vital Panama Canal, to a group led by BlackRock (BLK.N). Definitive documentation for the two port operations near the Panama Canal was expected to be signed by April 2, according to the March 4 sale announcement. However, sources indicate that the deal won’t be finalized on schedule as it requires review by Chinese regulators. While this does not mean the deal is canceled, concerns remain over China’s reaction, particularly as U.S. President Donald Trump has voiced support for reducing Chinese control over the waterway Reuters

World Liberty Financial Announces the Release of Stablecoin USD1
World Liberty Financial, a crypto project backed by President Donald Trump and his family, has introduced a new stablecoin tied to the U.S. dollar, named USD1. Unlike volatile cryptocurrencies like Bitcoin, stablecoins maintain a fixed value by being pegged to reserve assets or fiat currency. Trump Media’s stock saw a surge following the announcement of a collaboration with Crypto.com to offer ETFs. Meanwhile, regulatory shifts under the crypto-friendly administration have led to the Securities and Exchange Commission (SEC) dropping legal cases against major crypto firms like Coinbase and Binance Morningbrew

U.S. Economy Holds Steady as Corporate Profits Rebound
The U.S. economy exhibited resilience with an upward revision to Q4 GDP growth, signaling strong corporate fundamentals. Corporate profits saw a notable 5.4% annualized increase, reinforcing investor confidence despite concerns over tariffs and trade deficits. While market pressures persist, opportunities remain in resilient industries such as tech and consumer goods, positioning investors for cautious optimism in 2025. Trading Economics

Foreign Tourists Are Snubbing the U.S.
A growing number of Canadians are avoiding travel to the U.S., partly due to President Trump’s tariff threats and controversial remarks about Canada. Data shows a 13% decline in return flights from the U.S. compared to the same period last year. A Leger poll revealed that nearly half of surveyed Canadians are less inclined to visit the U.S. this year. A projected 10% decline in Canadian tourism could cost the U.S. economy $2 billion and 14,000 jobs, with border cities and winter destinations like Palm Beach County expected to suffer the most. More broadly, international travel to the U.S. is forecasted to drop by 5% this year, with foreign tourist spending estimated to decline by $18 billion Morningbrew

Minor Headlines

Elon Musk Sells X to His Own xAI for €25.5bn in All-Stock Deal Cityam
U.S. Powerhouse Skadden Pledges $100 Million in Pro Bono Legal Work Aligned with Trump’s Policies Above the Law
WH Smith (LON: SMWH) Announces Sale of UK High Street Shops to Modella Capital Armchair Trader
Abu Dhabi-Listed Agility Global Tops Board with 5% Gain Following Full-Year Earnings Report Armchair Trader
Signal Hill Equity Partners Invests in ZMM Architects & Engineers PE Hub
Galaxy Digital Pays $200M to Settle Luna Crypto-Trading Probe Financial Times
Healthtech Startup Elvie Acquired by U.S. Rival Willow SiftedEU
KKR and Japan Investment Corp to Acquire Tokyo-Listed Medical Device Maker Topcon in a ¥358 Billion Deal Pitchbook