This weekend was packed with high-profile developments spanning international politics, economic shifts, and market trends. From renewed discussions on the conflict in Ukraine to significant financial milestones, here’s a rundown of the key stories you may have missed:

1. US-Russia Relations and the Ukraine Conflict

• Trump Urges Putin Not to Escalate War in Ukraine: Former President Donald Trump reached out to Russian President Vladimir Putin, encouraging de-escalation in the ongoing conflict with Ukraine. This direct engagement suggests Trump’s potential future diplomatic priorities, particularly if he returns to office.
• Street Battles Erupt in East Ukraine: On the ground, fighting in eastern Ukraine intensified, with Russia reportedly engaging in street battles in a strategically significant city. The conflict remains a focal point of global concern, drawing both military and diplomatic activity.

2. Political Alignments and Tensions in US Diplomacy

• Ukraine Considers Zelenskiy-Trump Meeting: Ukrainian officials are reportedly organizing a potential meeting between President Zelenskiy and Trump, a diplomatic move that could reshape future U.S.-Ukraine relations if Trump is re-elected.
• Biden Pushes Trump’s Team on Ukraine Aid: President Joe Biden is working to secure continued American support for Ukraine. With political shifts on the horizon, Biden aims to establish the case for sustained aid as critical for both Ukraine and broader geopolitical stability.

3. Trump’s Administration Plans

• Exclusions from the Trump Circle: Trump announced that, if he returns to office, he won’t be inviting prominent former officials Nikki Haley and Mike Pompeo into his administration. This signals Trump’s strategy to potentially reassemble a redefined team aligned with his vision.
• WTO Chief’s Bid Sets Up Clash with Trump: As the WTO chief seeks a second term, Trump has hinted at opposition, raising questions over the future of the U.S. role in international trade under a possible Trump administration.

4. Market Highlights and Economic News

• Bitcoin Surges Above $80,000: Cryptocurrency markets surged as Bitcoin broke the $80,000 threshold, partly driven by optimism among investors banking on a potential Trump re-election.
• JPMorgan’s Strategy for a Trump Return: With a potential Trump comeback, JPMorgan is reportedly preparing for what it calls “impactful” first years. Analysts are watching how financial giants will navigate the economic shifts under new policies.
• Wilbur Ross on Canadian Tariffs: Former Commerce Secretary Wilbur Ross suggested that Trump might exempt Canadian energy from any future tariffs, indicating potential shifts in trade policy toward America’s northern neighbor.

5. Economic Challenges and Inflation

• Fed’s Kashkari on Persistent Inflation: While acknowledging the economy’s overall strength, Federal Reserve official Neel Kashkari expressed concerns that inflation remains a persistent issue. The data could test the momentum in the stock market, particularly following Trump’s recent political victories.
• European Stocks Decline Amid Global Concerns: European shares recorded a third straight week of decline, influenced by economic concerns surrounding China and global tariff worries. Markets remain cautious, with key indicators reflecting sensitivity to international trade uncertainties.

6. Key Updates from Europe

• Merz on German-U.S. Deal and Scholz’s Position: German politician Friedrich Merz expressed hopes for a renewed deal with the U.S. but also commented on Chancellor Scholz’s weakened domestic standing, referring to him as a “lame duck.” The statement could signal a shift in German political priorities toward the U.S. in the coming months.
• Macron’s Approval Rating Declines: French President Emmanuel Macron’s approval rating fell by two points to 23%, according to Ipsos, reflecting increasing public dissatisfaction with his administration.
• French Pilots’ Union Plans Strike: The French Pilots’ Union is protesting the proposed tax increase on tickets, warning of a potential strike that could disrupt flights across France.

7. Asian Markets and Economic Indicators

• China’s Slowing Consumer Price Growth: China’s consumer prices rose by just 0.3% year-over-year in October, signaling economic slowdown. The government is emphasizing fund strategies to better support investment and financing demands as it works to stabilize growth.
• Hong Kong’s Slower Growth Forecast: Hong Kong’s finance chief announced that growth may hit the lower end of the forecasted range, reflecting ongoing economic pressures in the region.
• Bank of Japan to Hold Steady on Inflation: The Bank of Japan reaffirmed its 2% inflation target while monitoring potential impacts of climate risks on the economy.

8. Electric Vehicles and Energy

• Honda’s EV Strategy: Honda’s latest electric vehicle, set to be a quiet competitor to Tesla, is making headlines as the company ramps up its EV efforts.
• Oil Production and Import Reliance: With over a quarter of U.S. Gulf of Mexico oil output offline, concerns over energy stability persist. In a related story, India emphasized that Russian imports have helped to prevent a spike in oil prices, illustrating the interconnectedness of global energy markets.

9. Corporate Developments

• Hedge Funds and Tesla’s Rising Value: Tesla continues to surprise investors as hedge funds betting against it suffered significant losses, with more than $5 billion in losses reported due to its recent performance surge.
• Thames Water Debt Concerns: JPMorgan and Bank of America have reportedly hired legal advisors in anticipation of potential disputes related to Thames Water debt. This move reflects the financial sector’s cautious stance on debt exposure in uncertain economic times.