Putin’s Trump Call Win, Britain’s Big EU Reset, Banks Bullish On Europe
Bloomberg Daybreak: Europe Edition20 Mai 2025

Putin’s Trump Call Win, Britain’s Big EU Reset, Banks Bullish On Europe

Your morning briefing, the business news you need in just 15 minutes.


On today's podcast:


(1) After two hours talking with Putin, Trump said on social media that Ukraine and Russia would “immediately start negotiations” toward a ceasefire — but possibly without the US. There was no sanctions threat, no demand for a time-line, and no pressure on the Russian leader.


(2) Prime Minister Keir Starmer heralded a “landmark deal” between the UK and the European Union on Monday that he billed as a reset moment for relations under his government. Still, with many details unresolved, Brexit never quite seems to be over.


(3) Israel will take over the entire Gaza Strip, Prime Minister Benjamin Netanyahu said on Monday, as the military announced it would carry out an “unprecedented attack” on Hamas.


(4) The Bank of England is considering ways to loosen post-crisis rules that forced banks to separate their retail and investment banking arms after a number of UK lenders called for the regime’s removal.


(5) Washington lawmakers are risking a “fiscal disaster” if a recession hits as they plow on with their package of sweeping tax cuts, according to Guggenheim Securities Co-Chair Jim Millstein.


(6) JPMorgan Chase Chief Executive Officer Jamie Dimon warned against complacency in the face of a slew of risks, citing everything from inflation and credit spreads to geopolitics.

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