Zelenskyy's Letter to Putin, Mideast Talks Stall, 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 James Woolcock.
And I'm Caroline Hepker.
Ukraine's President Volodymyr Zelensky has proposed direct peace talks with Vladimir Putin in a combative open letter. He tells the Russian leader Ukraine is ready for a full ceasefire for the duration of the negotiations, an offer Putin has previously refused. US President Donald Trump welcomed the initiative.
What proposal did Zelenskyy make to Putin in his open letter?
I'm glad that they're maybe talking about media. I think we had a lot to do with it. I know exactly what you're doing. But I think it would be great if they met. They should get it done.
President Trump there appearing to support Zelensky's appeal, which came after discussions with officials from the UK, France and Germany. However, speaking via translator, Russia's President Vladimir Putin dismissed the idea EU countries could act as potential mediators.
It's one thing to participate in negotiations and quite another to be a mediator. But what kind of mediator can the European Union or individual EU countries be when they directly assist a country with which we are engaged in armed conflict, effectively engaging in hostilities? What kind of mediators are they? Mediation assumes neutrality. Where is the neutrality here?
The Russian president was speaking to reporters in St. Petersburg. Putin has previously rejected all calls for a truce while peace talks take place, arguing that a ceasefire would be used to rearm Ukraine and improve its defences.
After a week that saw a surge in hostilities between the United States and Iran, there are still no signs of progress in ceasefire talks there.
How did President Trump respond to Zelenskyy's peace initiative?
The Iran-backed Hezbollah militant group has rejected a US-brokered truce between Israel and Lebanon. Tehran says Israel's military operations in Lebanon must end before any deal can be reached with Washington. Yesterday, President Trump again wrote on social media that ceasefire talks are in the final stages. That's after Iran's semi-official Tasnim news agency reported that Foreign Minister Abbas Rakhi said that negotiations had stalled.
In markets, global tech stocks are declining today as enthusiasm for the AI trade cools. South Korea's KOSPI, the world's best performing equity gauge this year, and a bellwether for artificial intelligence chip investments slid by as much as 7%. NASDAQ 100 futures are also lower, indicating a third day of tech losses could be on the cards in the US. The pullback from record highs comes after Broadcom delivered a sales outlook that fell short of elevated expectations, leading to a 13% drop in its stock price yesterday. CEO Hock Tan told Bloomberg he tries not to think about the daily moves.
Yes, we are kind of like AI in a very surreal environment. Frankly, I don't think about that. Now, it's hard not to, but no, just focus on fundamentals, great value, and stop thinking about your stock price. Trouble is very hard to do that.
Even with Thursday's decline, Hoctan's Broadcom is still up more than 20% this year. Investors face another test later today with the US jobs report, which could shift Fed policy expectations and determine whether the AI-driven rally continues or stalls. Bloomberg Economics expects the May figures to show a solid increase in employment.
OK, well, to some politics now. Andy Burnham says that he intends to challenge Keir Starmer for his job as prime minister. It's the first time that the UK politician has signalled that he wants to oust the Labour leader, despite weeks of campaigning on a platform of change. Burnham told a BBC Question Time panel that he needs to win his election first.
I'm not somebody who gets ahead of myself.
What was Putin's reaction to the idea of EU mediation in the conflict?
I can't do anything unless I'm lucky enough to get the support of people here. But if I get your support, I would seek to represent you at the highest possible level and give this constituency maximum power and influence. I think West Streeting seems to have launched a leadership contest. So if that is running, I would seek to join it. But I'd have to persuade members of the Parliament to lay the groundwork.
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