*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).
Christine Hallquist, the first transgender gubernatorial candidate to be nominated by a major party, faces an uphill battle in Vermont, where she is trying to unseat the popular Republican governor.
Cannabis represents a fourth pillar of Constellation Brands' beer, wine, and spirits strategy, says the CEO Rob Sands. The company, which makes Corona beer, Svedka vodka, and Robert Mondavi wine invested $4 billion in the Canadian marijuana company Canopy Growth ー the largest weed deal by a major publicly traded company.
These are the headlines you Need2Know for Wednesday, Aug. 15.
Constellation Brands, the alcoholic beverage giant, is making a big bet that marijuana will be legalized in the United States by upping its investment in the Canadian cannabis company Canopy Growth. With legal marijuana coming to Canada in the fall, investors are preparing for a potential legal U.S. market to open up soon.
Rep. Tom Reed says he plans to propose a ban on House members serving on corporate boards, a bipartisan proposal designed to eliminate "potential conflict and the appearance of impropriety." The move comes a week after his New York Republican colleague Rep. Chris Collins was indicted on insider trading charges.
These are the headlines you Need2Know on Tuesday, Aug. 14.
A year after the white supremacist rally in Charlottesville, the country continues to see an upsurge in racism, says Patrisse Cullors, a co-founder of Black Lives Matter. But Cullors also says she sees more people "joining together in this moment to stand up for our rights."
Marc Lotter, former press secretary to Vice President Mike Pence, says Omarosa Manigault Newman's decision to record a conversation with White House Chief of Staff John Kelly in the Situation Room was a violation "of every protocol
[and] procedure." He also says allegations in Manigault Newman's book contradict the former "Apprentice" contestant's previous statements about President Trump.
These are the headlines you Need2Know.
Spike Lee's "BlacKkKlansman" opened nationwide on Friday, on the eve of the anniversary of the Charlottesville riots ー and that's no coincidence. The movie recalls the true story of Ron Stallworth, a black Colorado Springs police officer who infiltrated the Ku Klux Klan in the 1970s.
