Bloomberg News Now
Trump Sues JPMorgan for $5B for Alleged Debanking, US/Greenland Deal, More
22 Jan 2026
Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now, I'm Amy Morris. President Trump is suing JPMorgan Chase and its chief executive officer, Jamie Dimon, for at least $5 billion over allegations that the lender stopped offering Trump banking services for political reasons. The complaint also claims Dimon violated Florida's Unfair and Deceptive Trade Practices Act.
Chapter 2: What are the allegations in Trump's lawsuit against JPMorgan?
Trump has claimed that J.P. Morgan asked him to close accounts that he had held for decades within 20 days. J.P. Morgan has denied rejecting business on any ideological grounds. Ukrainian President Vladimir Zelenskyy tore into Europe for its apparent lack of willingness to stop Vladimir Putin as his country suffers from lack of water, heating and power under Russian bombs four years into the war.
Europe must do more so its sanctions block enemies as effectively as American sanctions. Why is that important? Because if Europe is not seen as a global force, if its actions don't scare bad actors, then Europe will always be reacting.
Zelensky spoke after he rushed to Davos for a last minute meeting with President Trump. 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. The issue of sovereignty is not on the table. Secretary General Rutte.
So what we discussed last night is the seven countries in the high north working together to protect against any adversary and then also to make sure that When it comes to Greenland specifically, their economy, their military situation, Russia and China will never get access.
NATO Secretary General Mark Rutte speaking with Bloomberg at the World Economic Forum in Davos. Commerce Secretary Howard Ludnick says the relationship with the EU is just fine.
I think they overreacted and it's proof that they overreacted because a day or two later there's a framework that makes sense, right? What did we say? We said we cared about it for national security, right? We said we care about it for national security.
Commerce Secretary Howard Lutnick spoke to Bloomberg surveillance from the World Economic Forum at Davos. President Trump's heightened rhetoric on Greenland had many European allies questioning whether the U.S. would take the island by force. Energy Secretary Chris Wright says a military option was never on the table.
So he's here to strengthen NATO, increase the security we have against the foes that are rising in the world. Yes, he has a different negotiating style and he gets different results.
Secretary Wright says he'll be in Venezuela in the next few weeks and that the U.S. won't provide security guarantees to those oil majors. Oil and gas companies operate all around the world in all different settings. They're well-versed in those challenges.
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Chapter 3: How is Ukraine's President addressing Europe's response to Russia?
Wright spoke to Bloomberg surveillance on the sidelines of the World Economic Forum. Javier Mele defended Argentina's economic ties with China. He says his country had little choice but to pursue trade with Beijing. He's seeking a deal with the U.S. while also pursuing trade with China. He says his plan is to open Argentina's economy to the EU, the U.S. and China.
My plan is to open up to the EU, to the United States and to China. I want an open economy.
Argentinian President Javier Millay described China as a great trading partner. Bank of America CEO Brian Moynihan criticized President Trump's proposal to impose a cap on credit card interest rates. Bank of America and Citigroup are trying to figure out how to do it or at least come close to it.
Sources tell Bloomberg each bank is considering offering cards with a 10% interest rate as one potential solution. Representatives for Bank of America and Citigroup declined to comment. SpaceX has lined up four banks to lead its initial public offering, and that's according to the Financial Times, as Elon Musk's rocket and satellite firm moves forward with plans for the biggest ever listing.
Musk says Tesla will likely sell its Optimus robots to the public by the end of next year. BlackRock CEO Larry Fink does not believe there's an AI bubble and that CapEx is going to drive global growth.
How that is going to be dispersed and where it's going to be, it's going to be really dependent on each and every government. But I sincerely believe there is no bubble in the AI space.
BlackRock CEO Larry Fink talking with Bloomberg at Davos. The cooling of geopolitical tensions and a rally in big tech fueled gains in stocks. We check the markets for you all day long here at Bloomberg. The S&P 500 up 0.8%, NASDAQ up 1.2%, the Dow up more than 1%, 10-year Treasury yield at 4.24%, the 2-year yield at 3.6%.
and natural gas shares continue to gain as millions of Americans from New Mexico to the Carolinas are bracing for a potentially catastrophic ice storm. It could crush trees and power lines and knock out power for days. Forecasters say Washington, D.C., Philadelphia, New York City and Boston could see enough snow to make travel very difficult or nearly impossible.
And it all starts on Friday, continuing through the weekend. Former special counsel Jack Smith testified before the House Judiciary Committee today, his first public testimony about his investigation into President Trump's actions after the 2020 election. The committee is investigating what it calls politically motivated prosecutions of President Trump. But Smith did not back down.
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Chapter 4: What is the significance of the NATO deal with Trump regarding the Arctic?
In Hollywood, Ryan Googler's vampire epic Sinners led all films with 16 nominations. That sets a record for the most in Oscar history. That ceremony is set for March 15th. News when you want it with Bloomberg News Now. I'm Amy Morris and this is Bloomberg.