Trump Alleges Debanking, Sues JPMorgan, Zelensky Slams Europe, More
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What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now, I'm Amy Morris.
What allegations is Trump making against JPMorgan Chase?
President Trump is suing JPMorgan Chase and its CEO, Jamie Dimon, for at least $5 billion over allegations that the lender stopped offering Trump banking services for political reasons. Back in February, Dimon denied allegations of debanking.
We don't debank people because of the political-religious affiliations. The rules and the requirements are so onerous, and it does cause people to be debanked who, in my opinion, should not be debanked.
J.P. Morgan has denied rejecting business on ideological grounds. Ukrainian President Vladimir Zelensky took a last-minute trip to the World Economic Forum in Davos, where he tore into Europe for its apparent lack of willingness to stop Russian President Vladimir Putin, now four years into the war.
But what about the ceasefire itself? Who can help make it happen? Europe loves to discuss the future, but avoids taking action today. Action that defines what kind of future we will have.
Zelensky accused European allies of lacking the will to act as a real global power. The deal between President Trump and NATO Secretary General Mark Rutte paves the way for NATO to beef up security in the Arctic region and fend off any threat from Russia or China. Secretary General Rutte.
We discussed how can we protect Greenland, how can we protect the wider Arctic region. And again, I think President Trump was the one who reinvigorated NATO at the summit in The Hague, which is the famous 5%.
The issue of sovereignty was not on the table. NATO Secretary General Mark Rutte speaking with Bloomberg at the World Economic Forum in Davos. President Trump's pivot on Greenland has left many European allies scratching their heads. Commerce Secretary Howard Letnick says the relationship with the EU is just fine.
I mean, it's obvious we care about it for national security, because if you're going to build a Golden Dome over the United States of America, right, wouldn't you prefer the Golden Dome cover Europe?
greenland howard letnick spoke with bloomberg surveillance from the world economic forum energy secretary chris wright says european allies need not worry i think the rhetoric or the speculation was so over the top it's going to be the end of nato the u.s military is going to invade greenland these these these were never on the table secretary
Secretary Wright says he'll be in Venezuela in the next few weeks and that the U.S. won't provide security guarantees to oil majors.
I'll go down to meet with government officials and look at the existing oil facilities down there. We will definitely see a number of American oil and gas companies going down as well and investigating opportunities on the ground.
Wright spoke to Bloomberg surveillance on the sidelines of the World Economic Forum. Argentinian President Javier Millay defended his country's economic ties with China, saying he really doesn't have a lot of choice.
And the way we see it, China is a great trading partner. it means a lot of opportunities for us to expand markets. So that is not any source of conflict.
Millet sat down with Bloomberg editor-in-chief John McElthwaite on the sidelines of the World Economic Forum. The cooling of geopolitical tensions and a rally in the world's largest chip makers fueled gains in stocks, and we checked those markets for you all day long here at Bloomberg.
How is Zelensky criticizing Europe's response to the war in Ukraine?
The S&P 500 up three quarters of a percent, NASDAQ up a little more than 1%, and the Dow up not quite 1%. Ten-year Treasury yield at 4.24 percent and the two-year yield at 3.61 percent. Bank of America CEO Brian Moynihan criticized President Trump's proposal to impose a cap on credit card interest rates, saying that it would slow consumer spending and make credit less available.
If you actually make this a policy, it can reallocate credit. That will slow down spending, it will slow down credit availability, and that might not be what you're trying to achieve. So can you do something on a go-forward basis on the limited things?
Now Bank of America and Citigroup are reportedly trying to figure out how they can do it or come close to it.
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