(Jan 16): Prime Minister Theresa May’s Brexit deal was rejected by Parliament in a humiliating defeat, her plan for leaving the European Union all but dead. She now faces a confidence vote in her government.
The House of Commons voted 432- 202 against the divorce she painstakingly brokered with the EU over 18 months. The largest parliamentary loss in over a century not only prompted the main opposition Labour Party to makes its move to try force an election, it also hardened the EU’s position.
Why May Faces U.K. Confidence Vote (and How It Works): QuickTake
SHANGHAI (Jan 16): China’s central bank injected a record $83 billion into the country’s financial system on Wednesday, seeking to avoid a cash crunch that would put further pressure on the weakening economy.
China’s policymakers are pledging to step up stimulus measures this year and do more to protect jobs as economic growth cools to 28-year lows.
But a raft of measures last year from big rail projects to tax cuts seem to have had little impact so far, with recent data suggesting activity is cooling more quickly than expected.