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 The British pound is trading in a tight range on Wednesday after U.K. Prime Minister Theresa May's Brexit deal was defeated in Parliament Tuesday and as lawmakers are debating a no-confidence motion against the government.
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Prime Minister Theresa May's plan suffered a crushing defeat, which thrust Britain further into political chaos. She must come up with a backup proposal by Monday.
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Kremlin: The idea that Donald Trump could have worked for Russia is stupid AOLRachel Maddow Explains Putin's Possible 'Blackmail In A Bottle' On Donald Trump HuffPostAnother good day for Putin as turmoil grips US and UK CNNNew York Times wasn't always so suspicious of 'secretive communications' with Russia Washington ExaminerTrump's alarming failure to engage in basic counterintelligence hygiene with Putin The Washington PostView full coverage on Google News
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British prime minister fails to rule out extension to Article 50 divorce process
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 Bank of America Corp. trimmed its workforce by 2.3% to 204,489, as of Dec. 31, after remaining relatively unchanged at around 209,000 the past two years. At the same time, personnel expense slipped just 1.6% to $31.88 billion, which lifts the personnel expense per employee by 2.2% to $155,901 from $152,506. The workforce cut comes as the number of financial centers in the U.S. fell 3.0% to 4,341, while the number of branded automated teller machines (ATMs) rose 1.3% to 16,255 after a 0.7% increase in ATMs in 2017. Overall, 2018 noninterest expenses declined 2.5% from 2017 to $53.38 billion. Axel Pierron, managing director of capital markets at consultancy Opimas, praised BofA's cost-cutting moves. "Bank of America's quarterly results demonstrate the bank's ability to adapt its expense structure to market conditions," Pierron said in an emailed comment to MarketWatch. "While there is still room for further improvement, the bank is nevertheless addressing the necessity of having a more flexible cost structure head-on." The stock surged 5.4% in premarket trade, after BofA beat fourth-quarter earnings and revenue expectations. The stock has declined 15.0% over the past 12 months through Tuesday, while the S&P 500 has slipped 6.0%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Trump blasts Democrats, points to border wall construction elsewhere in the world The Washington PostDemocrats reject Trump's shutdown meeting invitation CNNTrump wanted to eat Democrats' lunch. That's why they didn't show up for his. NBC NewsOn shutdown, it's Pelosi and Schumer 1, Trump 0 Fox NewsTrump's Pinned to a Wall Few Americans Want The Wall Street JournalView full coverage on Google News
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However, there's still a long road to walk before shareholders can trust management again.
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 World equity markets on Wednesday held their nerve after the heavy parliamentary defeat of British Prime Minister Theresa May's Brexit deal as investors saw potential for legislative deadlock forcing London to delay its departure from the EU.
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U.S. stock futures were slightly higher on Wednesday, following a parliamentary defeat for British Prime Minister Theresa May's Brexit deal.
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The deal would need to be substantial enough to reduce tension, Larry Fink says, and include both sides calling off tariffs on each others goods.
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After Defeat on Brexit Plan, Theresa May Faces No-Confidence Vote The New York TimesTheresa May faces no-confidence vote after her Brexit plan is crushed NBC NewsFactbox: How will the confidence vote in UK PM May's government work? ReutersMay faces weeks of no confidence votes if she goes for no-deal Telegraph.co.ukFactbox - How will the confidence vote in May's government work? Reuters UKView full coverage on Google News
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With no end in sight to the longest federal government shutdown in U.S. history, Chicago companies are stepping up to offer furloughed workers everything from free lunches and museum tickets to temporary jobs.
It won't pay the rent, but benefactors are hoping a pulled pork sandwich or an afternoon...
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