Good morning. There’s a crunch call scheduled today between the White House and the Kremlin. Terra firma beckons for NASA astronauts. And colorful changes are coming for your steak au poivre. Listen to the day’s top stories.

Donald Trump will speak to Vladimir Putin today amid concern the US president may sacrifice Kyiv’s interests so he can claim he brokered a peace deal to end Russia’s war in Ukraine. Putin is said to be demanding a suspension of all weapons deliveries to Ukraine during a ceasefire. And in a sign of how comfortable the Kremlin is feeling, Russian energy executives are pitching buyers to purchase Arctic natural gas, claiming that US sanctions will be lifted and the gas will become more expensive next year.

Israel launched a series of airstrikes across Gaza overnight, shattering almost two months of a shaky ceasefire with Hamas, as Israel’s Benjamin Netanyahu said the Palestinian militant group repeatedly refused to release the hostages it’s holding. More than 400 people were killed, Hamas said. The latest strikes, coupled with others overnight by Israel on Lebanon and Syria and recent US attacks on the Houthis in Yemen, have ended the relative calm in the Middle East in recent weeks. Markets have noticed. Oil is getting more expensive, and gold hit another record.

Another headache for Tesla. Chinese automaker BYD unveiled a line-up of electric vehicles that it says can charge almost as fast as it takes to refuel a regular car. The new battery system allows for 400 kilometers of range in just five minutes of charging—that’s quicker than anything else out there. Check out the Big Take below on China’s EV dominance.

Alphabet is in talks to buy cloud-security company Wiz for $33 billion, in what would be its largest acquisition to date and could help its Google arm catch up with Microsoft and Amazon in the competitive cloud-computing market. There’s more than a chance that antitrust regulators would be interested. A deal, if completed, would result in quite a payday for Wiz’s founders. 

Homeward bound. After being stuck in orbit for nine months, NASA astronauts Butch Wilmore and Suni Williams finally departed the International Space Station. Watch here to see them get strapped in for the ride home. The SpaceX capsule is expected to fall to Earth (there will be parachutes) before splashing down off the Florida coast around 6 p.m. local time.

Bloomberg Tech: Join top tech decisionmakers and influencers on June 4-5 in San Francisco. Decode technology’s evolving role across business, culture and healthcare as we discuss the advances transforming industries and how they impact society. Learn more.

Deep Dive: How to Grow Crypto 

Illustrator: 731

Wall Street's blockchain bosses are calling for new rules and expertise to speed up digital asset adoption in traditional finance.

• From JPMorgan to BlackRock, executives emphasize the need for regulatory clarity and collaboration to integrate blockchain technology and cryptocurrencies into the financial ecosystem.
• Greater regulatory certainty, particularly in the US, and the integration of digital assets into traditional finance systems are seen as crucial to accelerating adoption and driving growth in the industry.
• Education—or lack thereof—is one of the biggest drivers—or deterrents—of adoption in the crypto space, says a president at Fidelity.

The Big Take

BYD’s Dolphin compact hatchback electric vehicles at the launch of a new plant in Thailand. Photographer: Valeria Mongelli/Bloomberg

Chinese automakers are rapidly gaining market share globally, threatening established car giants with cheaper, feature-rich vehicles. From South Africa to Brazil, buyers are embracing Chinese brands like Great Wall and BYD, while Ford and GM struggle to maintain their foothold in these growing markets.

Opinion

A large target. Photographer: Mario Tama/Getty Images North America

Republicans are seeking to "reprivatize the economy" by cutting federal agencies and outsourcing to the private sector, Patricia Lopez writes. But cuts to agencies like the National Weather Service and US Postal Service will create disruption to American life, particularly in rural areas where Trump is most popular.

Before You Go

Peppercorns, lots of them.  Photographer: Isa Zapata

Peppercorns are taking center stage on menus across America, because, well, why not? Chefs probably have better things to get on with, but restaurants are featuring au poivre preparations as a versatile showcase for peppercorn pyrotechnics. And diners are pretending they can savor the complex flavors that can change the character of a dish with just a few cracks.

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