*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 Social Security Administration’s acting commissioner has stepped down from her role at the agency over Department of Government Efficiency requests.
Mexican President Claudia Sheinbaum says her government is not ruling out filing a civil lawsuit against Google if it maintains its stance of calling the stretch of sea between northeastern Mexico and the southeastern United States the “Gulf of America.” Sheinbaum, in her morning press conference on Thursday, said the president’s decree to change the name of the Gulf of Mexico is restricted to the “continental shelf of the United States” because Mexico still controls much of the body of water. “We have sovereignty over our continental shelf,” she said.
U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger toug
President Donald Trump is hitting foreign steel and aluminum with a 25% tax. If that sounds familiar, it’s because he did pretty much the same thing during
President Donald Trump has ordered the U.S. to stop minting pennies. His surprise announcement comes after decades of unsuccessful efforts to phase out the 1-cent coin. Advocates for ditching the penny cite its high production cost and limited utility. Fans of the penny cite its usefulness in charity drives and relative bargain in production costs compared with the nickel. Here's a look at some question surrounding Trump's order.
The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought is the newly installed director of the Office of Management and Budget. Vought directed the CFPB in a Saturday night email to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama created it following the 2007-2008 financial crisis.
Brian Bennett, Senior White House correspondent at TIME, discusses Musk's relationship to Donald Trump and how he has such access in the federal government.
