UK’s Johnson Loses Vote to Fast-Track Brexit

in the upcoming issue of Bloomberg Business Weekend. Under Armoured Kevin plank Out s CEO, not totally leaving the company he founded, but this is a big change from the company that he has been running for more than two decades. And then we're gonna talk about t I earnings. I think it's important to focus on that chip sector. Yeah, absolutely so a lot to get to coming up. So how do we make sense of all of this going on at once? You heard Charlie talk about the market

reaction to all these headlines headline bingo once again. Today, let's it turn to our boys to set the business week agenda. Joe Wis Andhal Markets editor for Bloomberg, the co host of What You Miss That's coming up at four pm Wall Street Time on bat the and Dave Wilson, Stocks Editor, author of the chart and the stock of the Day. So, Dave, I want to start with you, what's the one thing you're looking at amid these the

sea of headlines. Well, just such a mixed bag when it comes to earnings today and you know, not something that we've seen up to now in earning season. And maybe the easiest way to kind of illustrate that is to look at the four companies in the Dow Jones Industrial Average and reported results before the opening bell. You got Procter and Gamble their fiscal first quarter results beating analysts average estimates in Bloomberg survey and that stocks up

more than three percent. You've got United Technology coming out of the head of projections for the third quarter, raising their full year forecast, which by the way, P and G did as well. United Technologies up two point three percent. And on the other hand, yeah, McDonald's down four and

a half percent. There were a US results really uh the source of that kind of decline because they came up short on the top oup line and bottom line in the US sales just didn't measure up to what people were looking for and Travelers down seven point four percent their third quarter earnings well below projections, are talking

about legal costs, are talking about weather related losses. But that contrast really shows you what's going on in terms of earnings and why stocks really have no direction if you look at the S and P five at the moment. All right, let's bring in Joe. Why is it thought, Joe, what's the one thing you think, uh investors need to know on this Tuesday? Well, it's kind of quiet, but you know, right now as we're talking, we're about to

get the thick of Brexit news. And I do think that one of the weirder things that's happened over the last couple of weeks is that Brexit news is not has no longer been confined to UK and the Brexit news has moved global markets. So I am talking to you but also with one eye looking at our coverage because this is now, at least for for the moment, a macro story. Yeah, no doubt about it. And I feel like, you know, investors continue to deal with so

many different macro stories. It's something we talked about in the magazine this week and really question, you know, can we once again kind of climb this wall of worry when it comes to the trade. All right, Joe Wisenthal, thank you so much. Markets thattor Bloomberg News co host of would you miss Find That? At four pm Wall Street Time on Bloomberg TV, Davi Wilson. He's going to be back a little bit later on with his chart and stock of the day. He's our stock sedator at

Bloomberg News. Let's get a check on world of national news headlines for that. Let's turn things over to Bob Moon, Carol, thank you. Senate Majority Leader Mitch McConnell put the brakes on a move to impose sanctions on Turkey over its incursion into Syria. Bloomberg's earv Chapman reports from Capitol Hill. The Condell introduced his own resolution that calls on President Trump to end the draw down of US forces from the area and rethink his invitation for Turkey's president or

to want to visit the White House. Sanctions may play an important role, and I'm open to the Sunate considering them, but we need to thank extremely carefully before we employ the same tools against a democratic NATO allah that we would against the worst row State Committees of both houses are holding hearings this week on the President's unexpected decision to pull the United States out of its alliance with the Syrian curred forces that have fought the Islamic State.

On Capitol Hill or chap and Bloomberg Radio, the Congressional Black Caucus is condemning President Trump's comparison of impeachment to lynching. Democratic Karen Bass of California, the group's chairwoman, called lynching a horrific stain on our country's history and said it's wrong to compare the systematic, brutal torture and murder of thousands of African Americans to a constitutional process of investigation.

The only black Republican in the Senate is sticking up for Trump, telling reporters that while he himself wouldn't use the word, he understands the president's point. There's no question that the impeachment process is the closest thing of a political death row trial, so I get his absolute rejection of the process. The Black lawmaker agreed with a reporter's

suggestion that the word is verily very racially charged. Global News twenty four hours a day on air in a TikTok on Twitter, powered by more than seven hundred journalists and analysts in more than a hundred twenty countries. I'm Bob Moon, Jason Carroll back to you, but thanks so much. You are listening to Bloomberg Business Week, Jason Kelly and Carol Masser right here on Bloomberg Radio. Bat down. Yeah, we're talking about farming and we're talking about sustainability underway

of Bloomberg headquarters of Bloomberg Sustainable Business Summit. Our next two guests participating in the summit, and let's talk about what they are up to at Syngenta when it comes to sustainability, some big initiatives. Let's bring in Cygenta CEO Eric Feerwald and Alexandra Brand who is Chief Sustainability Officer at the Basel, Switzerland based company, both in our Bloomberg Interactor Broker studio in New York. My co host Jason Kelly out there in our l A bureau. So nice

to have both of you with us. Um, Eric, let's just get right to it. What are you guys doing at Syngenta when it comes to sustainability, because I do feel like everybody's talking about it. Different companies approach it differently. Tell us about your initiatives. First of all, everything we do it c GENTA now has to do with sustainability,

because agriculture is right at the hardest sustainability. This year, the extreme weather events that farmers all over the world had to deal with was unimaginable before and I opening I feel like for many unbelievable. If you were here, you saw the flooding in the United States, and it's not just part of the United States, massive part of the United States, and it wasn't just a five year

or ten year flood, historic flood of all times. At the same time in Australia we're having the worst drought in history, highest temperature ever recorded in France, and other things like that. It's happening all the time. So we have to help farmers deal with climate change. It's weather extremes. The second thing we have to do is we have to as an industry be part of the solution to

climate change. We've got to reduce our carbon emissions, help be part of the solution that ends up reducing carbon dioxide in the atmosphere, so so climate change is is halted that that so we've got to do both, and that's what we announced today was two billion dollars. Everything we do goes to sustainability, but two billion dollars towards breakthrough innovations, things that are really going to help step change things here alright, So Alexandra, take us a level

down on that two billion dollars. How are you going to spend it? Where are you going to spend it? What is that disbursement? Look like, Grow us deeply care about their soils and soils is something which ensures that productivity and at the same time helps to sequest a carbon in the soil. So a lot of that money will be spent on good soil management. We're looking at

innovating in agricultural systems. So here in the United States, for example, we help row us to decrease the common footprint of their farm, increase the carbon content of their soil, decrease the water footprint, and with that connect them to food companies who give them a better revenue for the crops they have grown because they've been growing more sustainable.

So this is a model we feel is scalable, and we say we'll put much more money in matching seats, varieties to these soils and digital solutions to ensure you know, the right signs being reported year over year and traceability and transparency for food companies and consumers. How can you move in terms of sustainability actions, move others, whether it's companies that you work with, whether it's your customers, whether

it's your suppliers. To get everybody on board, right, because we really need an all in focus in order to make a difference. I think the ultimate here is the

consumers want this. Consumers want sustainably grown food. So we're starting to work with food companies and NGOs like the Nature Conservancy, who is with us on stage today at the Bloomberg Conference, but food companies like Kellogg's and General Mills to work with farmers in the US to make sure that they're growing using the best sustainability practices, keeping the carbon in the soil, the fewest passes over their farm,

whatever it takes to have the best sustainability metrics. And then what what Kellogg's is doing now is showing farm pictures of farmers in the retail store saying this farmer, farmer John grew this week sustainably. That goes into this cereal. So ultimately we want the consumer to get the data on the food that they're buying so that they can

make choices around sustainably grown foods. That's the well. And I was just gonna say, Jason, like you and I talk about this about our kids and how they turn around the boxes of things and what's in it in terms of ingredients. But I do think Jason, that we're getting towards the world where people like, where did this

come from? What were the sustainability initiatives? Well, and it's so interesting too because with that bottoms up approach that we're talking about that happens around our kitchen tables, it feels like, Eric, we're also seeing a top down from the boardroom level, you know. And I wanted to ask you about that because you've served in very senior positions and a number of companies you're currently on the board,

I believe of Eli Lily among others. What are those conversations like in the boardroom now versus what they might have been a few years ago. Well, it used to be on the side, you know, every now and then you'd have a conversation about E. S G or sustainability or whatever wasn't on the agenda. Perhaps maybe maybe or maybe even you had a committee you know, there's some a few people that didn't really want to be on that committee, but but somebody would do it. Now it's

right at the heart of the board's discussions. Alexandra is is right there with our board talking about sustainability. Is is our business? It's not, It's not some side thing. Well that's interesting, right, because you know, for a long time, I feel like we're in the technology world. We talked about the I T people. It was a whole separate department. Now they have a seat at the table, and I feel like sustainability it's no longer like, yeah, those are

those guys in the back corner. I don't know what they do. You have a seat at the table. You're in the room when decisions are happening. Alexander, Oh, absolutely, And we understand how much that thinking changes our practice, changes what is demanded from growers. So if we are there, it's absolutely critical for our business success and for the growth um. And is it gonna all be more expensive? Well, I don't think so. I think technologies are a great

driver for productivity and will continue to be so. So I don't expect us to be more expensive in food production. But being able to produce food much more different with good technologies and enabling policies for these technologies. All right, so Eric, let's talk about your business a little bit. We are, after all Bloomberg What's next? Ideas has been flooded. What do you do next to sort of continue to fund to build this company to expand. Yea, So we

were purchased two and a half years ago. We closed our deal with KEM China. We said at that time that we would go public. We planned I p O within five years, so we've got two and a half years. I believe that we're on track. Our our performance is strong. The markets are challenging, but assuming that that the the agriculture markets continue to stabilize and and have some improvement, I fully expect us to be able to I p O within the next year two two and a half years.

Now you've heard I think that there's been word out there that we're working with banks and we're getting ready, which is true. So that whenever the market conditions are right and our performances right, within the next two years, we're we'll be ready to go public. Nothing sooner, well, we'll we'll see, but certainly nothing this year. But but um, you know, something could happen in in but that's not

what we're focused on. What we're focused on right now is creating a really great company delivering strong results, and then the opportunity will open up. One last question, and because we talked so much about being a private company, I mean under KEM China just thirty seconds. Is it nicer to kind of be out of the public eye for a little bit. It is, It's very nice. But I'll tell you, even when we go public again, it's nice to have an anchor shareholder that has the long view.

It's willing to allow us to invest in things that take five or ten years, technologies that are really going to make a difference. Love getting some time with both of you. Thank you so much. Eric Fierwald, CEO, it's a Genta Alexander brand, Chief Sustainability officer at c Genta. Want to take you to London and the Brexit vote to move formerly formerly Thank you. The question is as on the order paper as many as I say, I of the country now a little mate. So it looks

like the government winning this vote. I'm just looking Jason at our Bloomberg Live blog. When it comes to you the UK Parliament voting on this Brexit bill. So, uh, the Prime Minister Johnson winning his first vote on the Brexit legislation. Keep in mind there are two votes. This first vote was what's known as the second reading vote, and this was basically on whether Parliament agrees with the general principles of Boris Johnson's bill. There will be another

vote immediately afterward. Uh, so that will be on his proposed fast track timetable for passing the along the law. And you know you started off earlier talking about your conversation with David Weston. I mean we have so many times in this process talked about historic moments. Uh, in

terms of Brexit. This is a big one. And this ultimately, you know, we'll figure out, you know, what happens and if we get something done and if we now have a real timetable in place, well, and this is a win for Boris Johnson, I think really aided at least for the moment. And obviously we know that the story changes from moment to moment for sure. But Boris Johnson, who has had a very very tough a few weeks dealing with his own party, certainly the broader parliament, certainly

the EU public opinion, all of it. Uh. He pulled out a win. It was close ish, I guess three twenty nine to two nine, the pound holding its gains, we should say, uh. And our colleagues over in the top Live bugs saying that nine nine it's quite a wide gap. And uh Robert Hutton, Rob Hutton, who's covered this so closely, saying that Johnson might have enough lee way to lose some support and still get the timetable

he wants through. And that's going to be the key here, right Carol, is whether that October thirty one timetable still holds for the UK to lead the EU. It's sort of remarkable where we are right now. Yeah, exactly, that second vote that was considered to be more important of the two uh and for the government more difficult to win.

Let's get into this with Dr Sam and Adapaf he's president at Empire Global Ventures, joining us on the phone from Washington, d C. He's worked at the US Department of Commerce, that you at ECB, the European Central Bank, the German Bundesbank. He's got a great global perspective. So Sam, weigh in one vote down another to go, What does today's vote so far tell you, uh, I think it tells us that both politicians and Britain's are exhausted over Brexit.

And some of this is just let's get this done and move on, and Boris Johnson has very cleverly harnessed that. But let's remember what Brexit is. Brexit has wrecked British politics. It's damaged the British economy, it's reduced its international status and it threatens the very nature of the United Kingdom because it opens the door for Scotland and Northern Ireland. Tale So again, he won one vote. I believe it's the first vote he's won as Prime Minister, the set

can vote. He's gonna the second votes coming up. He's the the projections where he's going to lose that. But there's what's going on in the House of Commons and there's what's going to go on in the country and they're very different. Well, and remind us, uh Sam about the importance of Northern Ireland here, the DUP specifically, because it feels like they're part of the swing here and

that all goes to this border with Ireland. Right, Northern Ireland has long taken the position that it is the most dutiful daughter of the British Crown, that it is inexorably part of Great Britain. And there's a different, strong difference of opinion among religionists in Northern Ireland between the Protestants who wish to remain part of Britain and the

Catholics who do not. The problem is is that Boris Johnson, in running to become Prime Minister within the Conservative Party, said I will never create a red line between Britain and Northern Ireland. The bill that just past did just that. So Boris Johnson lied to the d u P. He just proved it with a vote and that's why they're

voting against him now. So I'm thinking as investors, right, we've been just like you talk about fatigue, and I think we laugh about it, the story that keeps on giving, But there are many macro stories out there that I feel like keep on giving. Um. But it sounds like you're expecting, at least at this point, we are getting ready to potentially at least see the end of it, and that could be good or bad though in terms of the market environment, especially the European market environment. Look,

I think you're exactly right. I think investors want clarity. Clarity overall. If if Brexit is to be the path, let's take Brexit. But as a result of the preparations for Brexit, five banks in the City of London, Deutsche Bank, JP, Morgan Goldman, Sack City Group and Morgan Stanley transferred eight hundred and fifty seven billion dollars of of balt Cheat assets from Frankfort from London to Frankfort, or ten percent

of the money in the UK banking system. Honda closed down a car making manufacturing plant in central Britain, Central England because as a result of leaving the EU, there will be a ten percent tariff on this. If you're an investor and you're looking at Great Britain, you may get stability, but this may be more of a distressed asset than you thought two weeks ago. Wow, And so what is an investor looking for here? To your point,

it's stability to some extent a timeline for sure. Does that mean in your estimation do companies take at least a little pause here to figure out does October one stick? Are we waiting longer? What do you expect companies to do in this very sort of brief interim period. Well, I think larger companies have been planning for Brexit for

some times m land Rover and Jaguar. They have been saying, you know, we are you know, we are ostensibly British companies, but we are having to plan for an enormously difficult process for US. So banks have been planning, large corporates have been planning. The problem is smaller British companies haven't been able to plan because they haven't had that flexibility. And if Boris Johnson wins this next vote, Brexit happens

on Thursday. You know it's interesting. I'm looking at our Bloomberg Live blog we love this where our our whole team is weighing in on this, and Robert Hotten, our UK government reporters, says appearances can be deceptive on this meaning Brexit and the Brexit vote. On Saturday, I watched the d up head for the No lobby, or so I thought it turned out they voted yes. So it ain't over until it's over, Sam, right, I mean, you

just never know ultimately how things will end. Even if you think you understand someone's position going into it, you're absolutely right, and when it comes to the d up their own position, of their own political position at home is quite challenging. But again, when investors look at this,

they tend to like to hear what's going on. The CEO of Jaguar Landrover said that Brexit was jeopardizing eighty billion pounds and its future investments into the UK, and that a bad Brexit would cost Jaguar Landrover over one point to billion pounds and profit every year. Um, you never know what's going to happen, and with Brexit we've

all been made fools of many times. But people who are spending money on participating in the British economy they've been watching closely and they thought this thing was over for a long time. And so it's sam as you think about the global implications of this. I mean, obviously this is an incredibly important story domestically in the UK and regionally for Europe. But what about elsewhere back here

in the United States? How are people viewing this? Because all eyes have been especially over the last week or so, it feels like on something close to a resolution here. If you're a central banker, if you're a CEO, what are you thinking right now? Uh? The Central bankers want to get back to managing monetary policy and they're really

tired of focusing on this. If you're a president and you look out at the world, you see that the United States is beginning to get UM caught in the grip of an impeachment hearings, the EU is paralyzed by Brexit, so that economic so that economic energy is shifting more to Asia. So Sam, hanging on a second. We do have members of Parliament coming back to their seats at

this point, we just want to update everybody. We did have the d u P voting against the UK government's timetable that's coming from the BBC, so we're getting a

little bit more information at that. Forgive me, Sam, go ahead. UM. So if investors may see that the US market, while it's growing, may not be a value by at this point, that UM Britain is something is a longer term investment in terms of a distressed asset, and I think U hasn't come to grips with how its economy is going to change, and that smaller Asian countries maybe a real opportunity for investment opportunities. Sam. I do wonder if this process,

how how pained it has been and tortured. That are other countries who maybe are not so happy as being part of the European block, thinking okay, there's no way I would I would step back. Are there others who might see if ultimately Brexit looks like it will happen, we'll say, well, maybe that's a consideration. I think you're

exactly right. And the EU has deeply, has deeply been angry about this process, but it's sent a very clear signal to anyone thinking of leaving the EU you don't want to try this, and so you know, Sam, it's also interesting to think about this timetable and that goes

back to what you said about investors wanting stability. If this gets lengthened, if we go you know, another month, another two months, I mean that I would imagine will have continue to have real economic effect as people, as you say, continue to make some decisions, but maybe don't make their final decisions. As this takes another twist and turn.

I think the key international economic institutions that were in London have left, UM the clearing house businesses, they have created mirror images in the EU so that they can continue doing their eurodollar business. UM major banks as I said, have moved nine hundred you know, nine hundred billion pounds out of Britain. Um Key EU institutions, their version of the Food and Drug Administration. They have moved out of

London and moved to Amsterdam. So the big institutional decisions and reassessments they've already taken place now, So big decisions have been taken. Now we'll find out when the rubber hits the road for everybody else, right when it really this is it, folks. Tim ross Or UK Government team leader on our Bloomberg Live blog, saying, I'm inside the Commons chamber where MPs are excitedly chattering to each other. John's in, of course. Prime Minister Boris Johnson has voted.

Now he's back on the front bench, looking relaxed and sharing a joke with an m P. I mean, you know, no doubt about it, Sam. Now this is a really big day for him and in terms of support or no support, let's be clear, Boris Johnson did something that none of his predecessors could do. He want to vote on Brexit. That's that's historic. He Theresa May, with a very different bill was defeated multiple times. Boris Johnson in his first key vote on Brexit, got a win that

his party was desperate for. If Boris Johnson wins the next vote, he will be able to lead a unified Conservative Party into a general election saying we did Brexit. Now let's look to the future. Brexit is the issue that divides his party and therefore he'd be very likely to win the next general election if he wins this

next vote. Let's just rehash what has happened Boris Johnson as we've been talking and clinching a dramatic vote for his new Brexit plan in the first demonstration that Parliament is prepared to prove the broad principles of an agreement that takes the UK out of the European Union. Before all this happens, though, they will also vote on whether to accept the Prime Minister's accelerated timetable for the legislation to pass before October thirty one. And that's where we

are right now. Jason Well, and I should point out Carol that the pound is weakening versus the dollar right now as these headlines start to come through that the d u P, of course representing Northern Ireland, has uh not voted with Prime Minister Boris Johnson, the pound head spiked on news of the initial when the that went on that first vote, but now it is falling. It has, in the words of one of our colleagues, reversed its meager gain head at the second vote, and perhaps indeed

the headlines on the d up weighing there. So we will await and see where this vote turns out. We do expect. We noted that Boris Johnson, the Prime Minister, was making notes. He will stand up and say something. Probably regardless of which way this vote goes, I should say, yeah, We're gonna continue to watch and monitor the process out of the UK Parliament. Of course, wait for news of that second vote. In the meantime, let's get you caught up on the world of business and also check on

trading here in the United States. Here is Charlie Tell and I think very much here's what's going on US equities. They are trading mixed right now. We've got the Dow, the SMP, both Hire Nestack on the minor side right now looking at sterling dollar twenty nine seventeen amid this Brexit vote, we've got the tenure up three thirty seconds with the yield of one point seven eight percent gold Hier Little changed up forty five cents the ounce. At

fourteen eighty four. West Texas Centimedia crewed up one point percent fifty four twenty three of barrel. The Dow up ninety a gain of three tenths of one percent, SMP up three, up by one tenth ne Stack again down two tenths of one percent, SMP right towards a twelve week high. I'm Charlie Pellatton. That is a bloom Bird Business flash. All right, Charlie, thank you so much. You're listening to Bloomberg Business Week. Cale Masser in our Bloomberg

Interactor Broker studio in New York. Jason Kelly in our Los Angeles bureau. We've been talking to Dr Sam Natapo, president at the Empire Global Ventures, on the phone from Washington, d C. We've been talking about the Brexit vote one vote down in favor of Boris Johnson. But right now

it's all about the timetable. And you know, you have to keep in mind that if he cannot get this legislation through by October thirty one, it will be in the hands of the European Union to decide whether to grant an extension to January thirty one that's sought by the UK Parliament, or to oper a shorter or longer delay. If the Block refuses to do so, the UK will be on track to crash out of the EU without a deal on October thirty one. If this does not go and the timetable is an approved SAM is a

hard Brexit kind of a done deal? Um. I think that's highly possible. Again, Brexit has made fools of assault. But but the best analysis of Brexit that I've heard came from US Speaker of the House, Nancy Pelosi, because the question she always asks is do you have the votes? Does Boris Johnson have the votes in the House of Commons? Are did the votes in the European Council of Ministers

to approve the delay? Do you have the votes? They had the votes when it came to the brexit um referendum in they just had them about fifteen minutes ago. Will they have them five minutes from now? Right? And all of this does come down Carrol, as you were just saying to this question of the timetable, Um, we do you know you're watching pictures there? The Chamber is filling up again, so it won't be long before we

get this next result. Uh. Rob Hutton, who is inside the chamber, is saying that Chief Whip Whip Mark Spencer is kneeling and talking to Boris Johnson. Rob Hutton sees that as a bad sign, sort of preparing the Prime Minister to speak after a potential defeat. Here headlines that we are saying that the DUP did not support Boris Johnson.

Let's go back to the UK Parliament. The eyes to the right three hundred and eight, the nose to the left three hundred and twenty two, The eyes to the right three hundred eight, the nose to the left three hundred and twenty two. So the nose have it, the nose have it unlocked? The point you aller, Mr Jeremy Corbyn, thank you, mus to Speaker. On Saturday, this House emphatically rejected the Prime Minister's deal. Tonight, the houses you're too hasy,

I'm not finished your tonight. The House has refused to be bounced into debating a hugely significant piece of legislation in just two days with barely any notice and an analysis of the economic impact of this bill. The Prime Minister is the author of his own misfortune. So I make this offer to him tonight, work with us, work with us, all of us, to agree a reasonable timetable. And I suspect this House will vote to debate, scrutinize, and I hope amend the detail of this bill that

would be the sensible way forward. And that's the offer I make on behalf of the opposition tonight the point of order, the Prime Minister order. Let me let me say in response, Mrs speaking, how welcome it is even joyful that for the first time in this long saga, this House has actually accepted its responsibilities together, come together

and embraced a deal. I could ratulate honorable members across the House on the scale of our collective achievement, because just a few weeks ago, hardly anybody believed that we could reopen other withdrawal agreement, let alone abolish the backstop that is indeed what they were sent. And certainly nobody thought that we just could secure the approval of the

House for a new deal. And we should not. I overlook the significance of this moment, and I pay I pay particular tribute to those members of the House who were skeptical, and who had difficulties and diets, and who decided to place the national interest ahead of any other consideration.

The MMR Speaker, I must express my disappointment that the House has again voted for delay rather than a timetable that would have guaranteed that the UK would be in a position to leave the EU on October thirty one with a deal, and we I face further uncertainty and the EU must now make up their minds over how

to answer Parliament's request for a delay. In the first consequence, Mrs Speaker is that the Government must take the only responsible course and accelerate our preparations for a no deal outcome. But secondly, I will speak. I will speak to EU member states about their intentions until they have reached a decision, Until they reached us, I would say, we will pause this legislation and let me let me be clear, let

me be clear. Our policy remains that we should not delay, that we should leave the EU on October one, and that is that is what I will say to the EU, and I will report back to the House and one way or another, we will leave the EU with this deal to which this House has just given it's a sense and I found and I found members across the House for that hard one agreement point of order. Mystery

and Blackford, thank you, Mr Speaker. And I must say I feign the response of the Prime Minister quite extraordinary, because the facts of the martyred or the right honorable gentleman is entitled to raise a point of order and he's entitled to be her. Let's hear the right Honorable Member, and then we will expedite progress. Mry and Blackford give

Mr Speak of the facts of the matter are. This is yet another humiliating defeat for the Prime Minister this evening, who has sought a real road through this extension, but also in terms of protecting Scotland's national interest. So what options but open to us the right Honorable gener But I have a sense that his question is largely rhetorical. I say that in no disobliging spirit, I do think the Right oren Generman needs by advice, or even if

he does, he doesn't need it tonight. And so we'll leave it there for now, and we go even listening in no disobliging spirit. Carol Masser, But this is a little bit of a mess that we find ourselves in. We've been listening to a lot of back and forth there in the UK Parliament, Boris Johnson, the Prime Minister, winning one and losing one, but losing a big one in the sense of we don't know exactly what happens next. Yeah,

that's exactly. So two votes happened. The first one rather quickly and that was basically the UK Parliament voting to accept his Brexit, Boris Johnson's Brexit bill. That was followed by another one and that's where Boris Johnson lost, and that was basically due fast track. Uh the Brexit law. We did hear from Boris Johnson still committed to it, but he also did say we now face further uncertainty. The European Union must now make up their minds. So

that's basically where we want. Jeremy Corbyn, leader of the Labor Party, we did to hear from him. He says he wants a reasonable timetable. So that's kind of where we are at this moment. Dr Sam Natapoff has been kind enough to sit through uh, listening to the UK Parliament and stay with us, President of Empire Global Ventures on the phone from Washington, d C. You've worked around

the world with different organizations. Um, based on these two votes and based on what you've been hearing, Sam, Now what we've just heard that Boris Johnson's first victory as Prime Minister spells the end of the of the United Kingdom. You just heard Scotland say, now that there's Brexit, we will seek independence again as we did a few years ago with a referendum, and this time they're likely to

be successful. Boris Johnson has also created an institutional structure that puts a red line between Britain and Northern Ireland. And so there is a possible future where Northern Ireland is no longer part of the United Kingdom. So, just to understand what's happened in the last ten minutes, Boris Johnson got his first victory which may have cost him the European king of the United Kingdom. And so what do you imagine happens next? What is Europe's play in

all of this? The EU has been more or less letting this play out. You know, they've largely you know, they've weighed in it at various times. Boris Johnson saying Prime Minister Boris Johnson saying he will go back to the EU and then report back to the Parliament. What do you imagine the EU stances here. The U stances has been very consistent from the beginning. They want a clear signal from Britain about how Brexit is to be prosecuted.

And then once Britain has sent that clear message that you will decide at this point, I would not surprise me that you will give Britain a few more a few more minutes to manage its to manage its internal issues. Now that the Parliament has asked for a period of time UH to go through this, But that raises another key issue. It's not just that this is going to take longer. It's that the Parliament is going to scrutinize

the agreement and propose amendments. This is exactly the same thing that's happening in the United States right now, where the executive branch, with President Trump is saying that the legislative branch oversight of him is functioning as a lynching. What we're having is the executive Boris Johnson fighting it out with the Parliament, and then Boris Johnson is going to go to Brussels and tell the European Union really you should give us more time, but I don't mean

it well. And it's interesting too, and I you know, again going back to our Bloomberg Live blog, you know, there was no mention of pulling the bill. There's no mention of an election, which I believe Boris Johnson had said he would maybe do if he lost, um this vote, So no mention of that. Um. Yeah, I think it's staging. I think what you said and I kind of had to pause after you said it that you know, the undoing.

I feel like it's the final undoing of the British Kingdom in terms of how we know it, or have known it for so long. The the United Kingdom, the British monarchy and Empire was an analog construction. What we're seeing now is a digital a digital extrication of of smaller units that can efficiently or less efficiently functioned within a wider market. Old traditions are being set aside, one of them, one of them has just been unraveled in

two hour ears. That's an extraordinary thing we heard from Scotland and uh, that will go into history books about Boris Johnson and David Cameron who started this right And so let's recap sort of where we are. We've had two votes in the UK Parliament today, one essentially the Parliament really for the first time, supporting a deal put forth by the Prime Minister, in this case Boris Johnson

to leave the EU. Subsequently, a vote against the timeline that Prime Minister Boris Johnson had recommended and put forth. Where that leaves us, interestingly, is not necessarily where we expected to be, Carol, because Boris Johnson had made noises about either crashing out on October one, which, by the way, that's next week. It's sort of interesting to think, at least for me, I thought, oh wow, oct one really is coming up very soon. Um. But also this idea

that he would call for a general election. He has done none of those things yet. He has essentially said we're going to look for an extension, a short extension to get this deal that Parliament has approved done. Now that is contingent on a number of things, including as Dar you Sam natapof laid out, the EU getting on board with this notion of agreeing to a deal and agreeing to some length of extension, and we don't know exactly what that is going to look like. Sam, I

am curious. So what does this mean? What is the new world order going forward? With the UK potentially resume out of the European block, maybe Northern are Ireland going off on its own as well. Um how does that change that global landscapes, particularly over in Europe, well Scotland and Northern Ireland. UM would would develop their own national

identities and and proclaim them. But the loss of Britain from the European Union and the loss of London as the European financial capital that has already sent shock waves around the world. Um. So as a result of this, New York City has emerged as the undisputed financial capital, which has benefited US economy tremendously. There has been tremendous capital flight and human capital flight from Britain to the

United States and the financial sector. But it's these It is this voluntary decision by the people of Great Britain to leave the European Union that has set all of this in motion. Seventeen point four million Britons said they wanted to leave, and today for the first time, the House of Commons passed the bill that will allow them to do just that. A right, Well, we're very grateful

to you Dr Sam Natapop, president of Empire Global Ventures. Unwittingly, Carol signed up to essentially be a guest host with us for his first hour of the Brexit negotiations. Everything that's happening in the UK really really value his expertise. He's been a great voice for us all along the way, and we're not done yet because we know we'll have him back as this continues to take some twists and turns. All right, let's get to roll the national news headlines

for that. Let's check in once again with