Theresa May's Brexit gambit fails as her premiership fades

Several lawmakers, including Labour's Brexit policy chief Keir Starmer, said there was little point holding the vote on her bill, which most agreed had no chance of passing a deeply divided parliament.The impasse in London means it is unclear how, when or even if Britain will leave the European club it joined in 1973. The current deadline to leave is Oct. 31.

Britain’s labyrinthine crisis over Brexit has stunned allies and foes alike, and with deadlock in London, the world's fifth largest economy faces an array of options including an exit with a deal to smooth the transition, a no-deal exit, an election or a second referendum.U.S. investment bank JPMorgan raised its probability of a no-deal Brexit to 25% from 15%, saying its base case was that Johnson would become prime minister followed by a general election.

JPMorgan raised the probability of an Article 50 extension to 60% versus 50% before and cut the probability of exit on the terms of May's Withdrawal Agreement to 15% from 35%.

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