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A group of powerful American investors closes in on a TikTok deal with China.

Plus, President Trump meets King Charles in a historic second state visit.

This is really Britain laying on the royal pizzazz thick to try and win over Trump and butter him up.

And buckle up market watchers. It's finally Fed Day.

It's Wednesday, September 17th.

I'm Caitlin McCabe for the Wall Street Journal, and here's the AM edition of What's News.

The top headlines and business stories moving your world today.

U.S. investors and President Trump are closing in on a TikTok deal with China in what could

end a years-long saga

over the social media platform's U.S. operations. According to people familiar with the matter,

TikTok's U.S. business would be controlled by an investor consortium that includes Oracle, Silver Lake,

and Andreessen Horowitz. Under a framework, the U.S. and China are finalizing as talks shift into high gear.

Our China Bureau Chief Jonathan Chang explains what the potential deal might look like.

So, first of all, the main thing to say at this point is that nothing is set in stone yet.

What would happen is that these American companies would buy a collective stake of about 80%

and leave the remainder a little bit under 20% for Chinese shareholders to own.

That would allow the app in the U.S., TikTok USA, to remain primarily majority owned by American investors. There's talk that the composition of

the board of directors would be dominated by American representatives and one of the members would

...