Daily Business Wrap - What's going on with Brexit? - video Dailymotion

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On the eve of the UK government's vote on Prime Minister Theresa May's Brexit deal, reports swirled that the British premier was planning to pull the vote for fear of a humiliating defeat.

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00:00It's just another manic Monday. The Brexit vote thrown up in the air on the eve of a

00:07critical Tuesday in Westminster. Theresa May reportedly has pulled plans for a vote in

00:13the House of Commons on her deal with the EU. Currently just reports in the local media.

00:19We're yet to hear from the Prime Minister, but news reports suggest that she lost faith

00:26in her ability to win that vote with politicians claiming that they were planning to vote against

00:32her deal. She's now being reported to look to Brussels to renegotiate the deal perhaps.

00:39We're yet to hear from her. She's set to talk at around 8pm Dubai time. So we will hear

00:44more from her then, but it throws plans for tomorrow's vote in Westminster into complete

00:50disarray and leaves the future of Britain's involvement in the EU completely uncertain.

00:57The pound was down at an 18-month low on the uncertainty with British markets sliding as

01:04a result of the news. In other news, Indian Central Bank Governor

01:07Urjit Patel has stepped down after mounting pressure over the past few months. Analysts

01:12link the move with increased interference by the Indian government trying to curb regulatory

01:20measures. They also say that India's government was looking to the Central Bank's foreign

01:25reserves to try and buoy its currency. We have yet to hear from Urjit Patel, but former

01:31Central Bank Governor of India has said that the move is a concern and analysts have said

01:38that India's central institutions should remain independent despite government interference.

01:44In other news, US markets were set for a downbeat start when they open on Monday morning. Investors

01:49wary of trade wars and the uncertainty around the Fed's decision. The buying has moved from

01:56a buy the dip to a sell the rally position and markets were expected to open low again.

02:04It's a critical week for US markets with concerns around the legal issues of US President Donald

02:10Trump and we will be watching that closely. As always, stay tuned on gulfnews.com for

02:15the latest updates. I'm Ed Clouse, thanks very much for watching.

Daily Business Wrap - What's going on with Brexit?

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