Starbucks is selling up to 60 per cent of its China operations to private investment firm Boyu Capital in a deal valued at over $4bn (£3bn). Starbucks – the world's largest coffee chain – said on Monday it would continue to own and operate its stores in China while licensing its brand and intellectual property to the new firm.

President Donald Trump pressed Chinese President Xi Jinping for a crackdown on the flow of fentanyl at a meeting on Thursday.