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British prime minister Theresa May’s hold on no. 10 Downing Street faces a stern test following Tuesday’s defeat in parliament of her EU withdrawal bill. Photo: Drop of Light / Shutterstock 

Scale of May defeat sparks speculation

The defeat by 432 votes to 202 in British parliament of the UK’s withdrawal agreement with the EU has left media speculating as to what happens next with Brexit. The Guardian has analysis and an excellent thought piece by Jonathan Freedland on where it leaves the UK.  CNBC has a guide and shows the shift in sentiment via opinion polls. And the BBC via a series of flow charts also explains the government’s options, ranging from a no deal Brexit to cancelling the withdrawal via a general election or a second referendum.

Tusk and Juncker react

The president of the European council, Donald Tusk, took to Twitter immediately after the Brexit withdrawal agreement was rejected by British parliament. The Guardian reports that Tusk tweeted: “If a deal is impossible, and no one wants no deal, then who will finally have the courage to say what the only positive solution is?” President of the European Commission, Jean-Claude Juncker, said the vote had increased “the risk of a disorderly withdrawal of the United Kingdom”. But further negotiations look unlikely, as an EU official told CNBC that “at this stage, there is not more we can do.”

Shares and pound unmoved by vote

Asian stock markets and the British pound were relatively stable following news of Theresa May’s Brexit defeat, Reuters reports. The news agency says investors’ short-term focus is most likely to be on Wednesday’s confidence vote in May’s government. CNBC says the pound had rallied after an initial fall as traders reckoned the possibility of a hard Brexit were decreasing.

15 dead after Nairobi terror attack

CNBC via Reuters says that at least 15 people were killed by Somalia-based Islamist group al-Shabab when it attacked a hotel and office complex in the capital of Kenya on Tuesday. The BBC explains who al-Shabab are.

Americans blame Trump for shutdown

Latest opinion polls show that 51 percent of U.S. adults blame president Donald Trump for the current government shutdown, Reuters reports. 51% says Trump is at fault, 34% blame Democrats in Congress and 6% blamed Republicans in Congress. The poll also found that 4 in 10 people are personally affected or know someone directly affected by the shutdown.

Ford and VW team up

The Guardian reports from the motor show in Detroit that Ford and VW have announced an alliance to tackle the new challenges faced by the automobile industry. The alliance will involve sharing resources on autonomous vehicles, mobility services and electric vehicles.

JP Morgan falls below forecast figures

JP Morgan generated $1.98 per share in profit for the fourth quarter of 2018, CNBC reports. That is below the $2.20 per share average estimate of analysts surveyed by Refinitiv. It is the first time in 15 quarters that the bank has missed profit expectations.

Manafort worked on “Ukraine peace plan”

Donald Trump’s former campaign chairman, Paul Manafort, continued to work with alleged Russian intelligence operative Konstantin Kilimnik as late as February 2018. The Guardian says heavily redacted court filings shows the two working on a “Ukraine peace plan” on terms favourable to Russia well after Manafort had been originally charged with criminal activity.

Supermac’s takes a bite out of McDonald’s

Irish fast-food chain, Supermac’s, has won its legal battle with McDonald’s over the use of trademarks, The Guardian reports. The EU Intellectual Property Office has cancelled McDonald’s use of the “Big Mac” trademark. The ruling means Supermac’s can now consider expanding across Europe.

Today’s breakfast briefing was written by Duncan Roberts