*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).
The United Nations High Commissioner for Refugees (UNHCR) has reported that an estimated one million people have fled from Ukraine since Russia invaded. Christopher Boian, senior communications officer at UNHCR, joined Cheddar News to report on the current refugee crisis and what the world might expect if conditions continue to worsen. "We have planning figures that forecast as many as four million people could be forced to flee Ukraine," he said. "But that very much depends on how the conflict underway in that country at the moment unfolds in the days and possibly weeks ahead."
Under the U.S. Renewable Fuel Standard (RFS), corn-based ethanol has been mixed into gasoline sold at pumps in the U.S. since 2005, when a policy was enacted aimed at reducing emissions. Corn-based ethanol had been thought to be a relatively greener energy source compared to other biofuels, but now, a new study published in the Proceedings of the National Academy of Sciences reports it may be actually worse for the climate than straight gasoline. Tyler Lark, an assistant scientist at the University of Wisconsin-Madison's Center for Sustainability, joined Cheddar News' Closing Bell and discussed the pushback against the study. "Essentially when you need to produce more corn to meet the demand for use as ethanol as fuel, farmers respond and they switch more crops like soybeans and wheat into corn," Lark said. "They also bring more land into production, so things that used to be pasture grassland, and both those activities are associated with increased greenhouse gas emissions."
U.S. President Joe Biden’s administration on Thursday announced new sanctions against Russian oligarchs and others in President Vladimir Putin’s inner circle.
Christian Blauvelt, executive managing editor at IndieWire, joins Cheddar News to discuss the growing number of studios pulling content from Russia over Ukraine invasion.
Russian forces are battling for control of a crucial energy-producing city in Ukraine’s south and gaining ground in their bid to cut off the country from the sea.
In the past few years, Betthany Frankel has made a major name for herself as a philanthropist after founding the
BStrong initiative, which has provided relief to people impacted by natural disasters as well as the COVID-19 pandemic. Now, BStrong is shifting its focus to Ukraine, raising millions of dollars in donations for those impacted by Russia's invasion. Bethenny Frankel, the founder of BStrong, joins Cheddar News' Closing Bell to discuss.
Bryan Lee, Chief Investment Officer at Blue Zone Wealth Advisors, joins Cheddar News' Closing Bell, where he elaborates on the volatility we've seen in the markets this week fueled by rising oil prices and the ongoing Russian invasion of Ukraine.
Francesca Chambers, White House correspondent for McClatchy, joins Cheddar News to discuss all the topics President Biden has to juggle in his State of the Union address.
