*By Brian Henry*
Even as British Prime Minister Theresa May suffered an embarrassing defeat as her Brexit vote was voted down in Parliament, and then only narrowly survived a no-confidence vote, investors remained relatively unrattled.
According to Chris Demetriou, the U.S. CEO at Aberdeen Standard Investments, the mild response to the vote was not a surprise.
"There are two elements to it," he told Cheddar Wednesday.
"The vote \[Tuesday\] and the no confidence vote \[Wednesday\] weren't really a surprise to anybody. It's long been speculated Theresa May didn't have the votes to carry the deal through Parliament."
Demetriou said that the decision by British lawmakers to reject the Brexit deal by such a historic margin ー 432 to 202 ーearlier this week actually has investors feeling confident.
"The resounding defeat, the size of the defeat, really suggests that a tweak to the deal probably isn't going to help get it through either. I think that, perhaps, is giving investors confidence that the can will be kicked down the road or potentially even a more formal withdrawal of Article 15."
"Investors want as a little change as possible in the current arrangement," he added.
Demetriou says productive trade talks between the U.S. and China as well as the Federal Reserve displaying patience on future rate hikes have led to less market volatility.
"A lot of the uncertainty we saw in the back end of the year, the escalation of trade discussions, perhaps concern around fed policy coming into 2019 ー a lot of that has reversed in the beginning of January."
But will the relative market peace last?
"There's a lot of positive news or certainly constructive news out there to offset some of the uncertainty that exists," Demetriou said.
"We do expect continued uncertainty, which breeds volatility in the markets and that will continue throughout the year."
For full interview [click here](https://cheddar.com/videos/the-uk-government-survives-no-confidence-vote-after-brexit-defeat).
After the Chicago teachers union voted to work remotely due to what they say is a lack of safety protocols amid the COVID-19 surge, the school system canceled classes on Wednesday, citing harm that remote learning has done to the city's children. Randi Weingarten, president of the American Federation of Teachers, joined Cheddar to discuss the issues surrounding the latest dispute between educators and schools. She said that the return to in-person learning would likely be halted until more COVID tests could be provided for districts. "This is a terrible situation for everybody, and we need the testing, and we need the masks," she said. "It's the omicron surge that has created this disruption, and we are trying to do the best we can. And this is the only school district that has this kind of action right now." The teachers might not be returning to their schools for at least two weeks amid the ongoing tensions.
Illinois State Senator Robert Martwick joins Cheddar News to discuss the new bill he co-sponsored allowing students in the state to take 5 mental health days without a doctor's note.
On Monday, President Biden announced his new plan to take on inflation by taking down the big meat monopolies - turning to the federal government's antitrust authorities to investigate the major meatpackers that control a significant share of the market. The White House plans to devote one billion dollars to aiding independent meat and poultry producers in an effort to undercut the few powerful meat producers that have control of the sector. Austin Frerick, deputy director of Thurman Arnold Project at Yale, joins Cheddar News to discuss.
As the pandemic drags on, so does the widespread great resignation. In November alone, 4.5 million Americans quit their jobs, marking a new record high, and showing a 9 percent jump from the month prior. On the flip side, the number of people filing tax paperwork to start new businesses is surging, with over 430,000 new businesses launching in November. Rhett Buttle, the founder of Public Private Strategies and national business advisor to the Biden for President campaign, joined Wake Up with Cheddar to discuss.
New York Attorney General Letitia James is ramping up a civil investigation into The Trump Organization. The AG's office has subpoenaed Ivanka Trump and Donald Trump Jr. They have refused to comply with the subpoenas. Bradley Moss, national security attorney, joins Cheddar News to discuss the next steps in this investigation.
Colorado Gov. Jared Polis has officially reduced the 110-year prison sentence of truck driver Rogel Aguilera-Mederos to 10 years, calling the initial lengthy sentence “unjust.” Dan Gilleon, constitutional attorney at Gilleon Law Firm APC, joined Cheddar to discuss more.
Former Brooklyn Borough President Eric Adams was sworn in as the newest Mayor of New York City. Adams is now expected to work on a number of issues such as crime and coronavirus. Erin Durkin,, reporter at PoliticoNY, joins Cheddar News to discuss more.
California's new composting law will affect what residents do in their kitchens. As of this week, Californians will have to recycle excess food in an effort to reduce emissions caused by food waste. Cities and counties will turn recycled food into compost or use it as a renewable energy source. California's new law is the largest mandatory residential food waste recycling program in the country. Rachel Wagoner, Director of the California Department of Resources, Recycling and Recovery called the law 'the biggest change to trash' since recycling started in the 1980s. She joined Cheddar Climate to discuss.
As the U.S. comes up on the first anniversary of the January 6 insurrection.,A.C. Thompson, investigative reporter at ProPublica, joined Cheddar's Baker Machado to discuss updates to American Insurrection by FRONTLINE, ProPublica and Berkeley Journalism’s Investigative Reporting Program. The documentary investigates the attack on the Capitol touched off by the lie that the presidential election was stolen from Donald Trump but with new information gleaned since the event including interviews with lawmakers and law enforcement and the evolution of groups like the Boogaloo Boys and the Proud Boys behind the attack. "In some ways those groups that were kind of the vanguard of January 6 are maybe no longer relevant because their message is everywhere," he said.
