Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Nathan Hager. Geopolitical tensions may be easing between the U.S. and Europe when it comes to Greenland, but they may be simmering again as the focus turns to Ukraine.
Chapter 2: What are the latest geopolitical tensions between the U.S. and Europe regarding Ukraine?
Europe loves to discuss the future, but avoids taking action today. Action that defines what kind of future we will have.
Ukrainian President Volodymyr Zelensky tore into Europe during a speech today at the World Economic Forum in Davos, Switzerland. Zelensky rushed to the gathering for a last-minute meeting with President Donald Trump as Russian attacks continue on his country. U.S. Envoys Steve Witkoff and Jared Kushner are headed to Moscow tonight. for talks with Russian President Vladimir Putin.
We're getting more details on the framework deal that got President Trump to back off his tariff threats over Greenland. A European official tells Bloomberg it will include U.S. missiles on the island, a bolstered NATO presence, and mining rights aimed at keeping China out. NATO Secretary General Mark Rutte says Greenland's sovereignty was not part of the discussion.
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%.
NATO Secretary General Mark Rutte spoke with Bloomberg News Editor-in-Chief John Micklethwaite after his talks with the president. The U.S. tariff threat has Denmark and Greenland considering selling U.S. assets from their pension funds. President Trump told Fox Business there would be, quote, big retaliation if Europe does that.
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Chapter 3: How did Zelensky criticize Europe at the World Economic Forum?
President Trump officially launched his Board of Peace initiative at a Davos ceremony that included several leaders who share his populist views. A number of allies have aired concerns that the group could supplant the United Nations, but the president says not to worry.
I think the combination of the Board of Peace with the kind of people we have here, coupled with the United Nations can be something very unique for the world. It's for the world. This isn't United States. This is for the world.
President Trump was joined at the signing ceremony by Argentine President Javier Molay, Hungarian Prime Minister Viktor Orban, and more than a dozen other world leaders. Back in Washington, former special counsel Jack Smith is testifying in public about his investigations into President Trump. Jim Jordan chairs the House Judiciary Committee.
It was always about politics. And to get President Trump, they were willing to do just about anything.
Jamie Raskin is the panel's ranking Democrat.
The good chairman started by saying, it's all about the politics. Well, maybe for them, but for us, it's all about the rule of law.
This hearing comes about a month after Jack Smith testified behind closed doors defending his push for criminal charges against President Trump over efforts to overturn the 2020 election. and to keep classified documents at Mar-a-Lago. About half the country is bracing for a massive winter storm that will bring frigid cold and inches of snow from Texas into New England.
Bloomberg meteorologist Craig Allen says it's going to be a snowy weekend for the eastern seaboard.
For D.C.
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Chapter 4: What details are emerging about Trump's NATO deal for Greenland?
on up through Baltimore, Philly, New York City, over to Boston. We are going to get the worst of this probably during the Sunday, Sunday night and early or first part of Monday timeframe. That's going to be the worst of it for us. It will come mostly in the form of snow.
I think there could be a little bit of mixing, maybe some freezing rain or sleet, especially in central and southern sections of New Jersey and down the pike, let's say down towards DC.
Bloomberg meteorologist Craig Allen says those areas could see 6 to 12 inches of snow or more before it tapers off late Monday morning. On Wall Street, investors are gauging the Fed's preferred gauge of inflation before the central bank's first rate decision of the year next week. Bloomberg's Michael McKee has the November PCE index.
year over year, 2.8 percent. The headline, 2.8 percent. While that is what's expected, it's not going down, which is something that the Fed has been watching because this is their target 2 percent number.
Bloomberg's Mike McKee. We also got consumer spending figures for November. They rose three tenths of one percent for a second straight month as shoppers kicked off the holiday shopping season. Right now, the S&P 500 is higher by a half percent. The Dow Jones Industrial Average is up seven-tenths of one percent. The Nasdaq Composite is up eight-tenths percent.
The 10-year Treasury Yield is up about two basis points now to 4.26 percent. The Academy Award nominations are out, and it's one for the record books. I've been all over this world.
I've seen men die in ways I didn't even know was possible.
Sinners, the vampire epic, leads the way with a record 16 nominations, including Best Picture, Best Director for Ryan Coogler, and Best Actor for Michael B. Jordan. One battle after another comes in second with 13 nods. The 98th Academy Awards will be held March 15th on ABC and Hulu. That's news when you want it on Bloomberg News Now. I'm Nathan Hager. This is Bloomberg.
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