Airbus recorded orders and options for 123 planes, according to the aviation consulting firm IBA.iQ.Paris Air Showread more
Markets in Asia were mixed in Tuesday morning trade as investors awaited the start of a closely-watched meeting by the U.S. Federal Reserve, set to kick off later stateside.Asia Marketsread more
Wall Street analysts think Facebook's cryptocurrency payments project will give the company a big boost.Marketsread more
Chinese President Xi Jinping will travel to North Korea this week for a two-day visit, ahead of a possible meeting between Xi and President Donald Trump at next week's G-20...Politicsread more
The Pentagon said that the crew of one of the tankers, the Japanese Kokuka Courageous, found an unexploded limpet mine on its hull following an initial explosion.Politicsread more
Despite the popularity of companies like Beyond Meat and Impossible Foods, meat consumption around the world continues to rise.Food & Beverageread more
Electronic material that Infowars host Alex Jones turned over to families of Sandy Hook Elementary School shooting victims who are suing him contained images of child...Politicsread more
Facebook's reported move into cryptocurrency could amount to the biggest catalyst for digital assets in their decade-long history, some crypto investors say.Bitcoinread more
In a 7-2 ruling, over dissents from Justices Ruth Bader Ginsburg and Neil Gorsuch, the justices affirmed the so-called "dual sovereignty" exception to the Constitution's...Politicsread more
Eleven banks that lend to shipping lines announced Monday that climate impact will be integrated into the criteria that determines how much shipping companies can borrow, an...Transportationread more
Florida businessman Barry Honig agreed to a proposed judgment with the SEC in a case it called "classic pump-and-dump schemes," according to Monday filings.Crimeread more
Former Foreign Minister Boris Johnson will win the race to be the next leader of the United Kingdom and quickly call a general election to gain support for his Brexit plan.
That's the new base-case scenario from the investment bank J.P. Morgan, who said Tuesday the probability that Britain will leave the European Union without a deal has also risen.
The bank predicted in a research note that Johnson would win a leadership contest and be in place by early September. It added that within days of this, the EU will reject Johnson's call to remove the controversial Irish backstop arrangement from any Brexit withdrawal deal.
The backstop plan is essentially a legally-binding insurance policy to ensure there is no hard border between Northern Ireland and the Republic of Ireland. It has been provisionally agreed between the EU and the current U.K. government led by Prime Minister Theresa May, but Johnson and other "Brexiteers" consider it a means by which Europe can continue to dictate terms.
J.P. Morgan said that while Brussels will deny Johnson's fresh Brexit plan, it will grant the U.K. a further extension of membership until the end of December. This would allow the time for a new a U.K. general election.
The bank's analysis has increased the chances of a "no-deal Brexit" to 25% from the previous 15% level, reflecting fears that a U.K. leadership contest could spice up anti-Brussels sentiment.
"It is not difficult to imagine one or more EU leaders responding to a bellicose turn in U.K. rhetoric by stating they will not support a further extension of Article 50," said the note.
The investment bank also noted that a leadership victory for Johnson would likely trigger a number of defections from within the Conservative Party, strengthening the case for a general election.