GBP News 

Give MPs free vote on Brexit options, says Sir John Major

“Sir John Major has called for MPs to be allowed to have a free vote on a series of options to solve the unfolding Brexit crisis, saying he feared millions would be hurt if Britain crashed out of the EU with the wrong deal” writes Marina Hyde for theguardian.com. The former prime minister called on Theresa May to stage a series of “indicative” votes in parliament to establish if any proposals could command a majority. “The prime minister argued valiantly for her deal. Source: theguardian.com

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Kabu Sees Solid Revenues in December, Reverses November Slump

“The month of November was a rather disappointing one for Kabu, as nearly all sectors experienced a decline, including net revenue, trading revenue, brokerage commissions and more” writes Celeste Skinner for financemagnates.com. Overall, net operating revenue recorded a significant monthly jump in December, climbing by 9 per cent or ¥154 million to reach ¥1.667 billion.During the month of December non-traditional revenue increased by 24.8 per cent or ¥195 million to reach ¥787 million.This uptick partially reverses November’s decline, as net revenue during the month actually dropped by 14.37 per cent…

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GBP News 

The EU will happily punish delusional Britain for last night’s Brexit defeat

“After the historic defeat of Theresa May’s Brexit deal in parliament last night, Britain feels different today” writes Jim Edwards for businessinsider.com. Until yesterday there was no other deal than May’s deal on the table.We might not know what our future with the EU will look like but one thing is certain: It won’t be May’s deal. Source: businessinsider.com

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Shoe retailer Payless to explore options, including sale: sources

“As part of the bankruptcy, a group of creditors, including hedge fund Alden Global Capital LLC, took over ownership, according to bankruptcy court records” writes Midwest Communications Inc for 95kqds.com. The retailer may also consider filing for bankruptcy, the sources said, cautioning that no decisions on the company’s future have been made.Payless is not the first retailer to face bankruptcy for the second time in almost as many years.(Reuters) – U.S. discount retailer Payless ShoeSource Inc has hired an adviser to help evaluate strategic alternatives, including a sale or restructuring,…

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Markets News 

Fiat Chrysler looking at options to plug hole in its truck lineup: CEO

“VW and Ford compete with Fiat Chrysler for pickup sales in a variety of markets, including the United States and Brazil” reports businessinsider.com. Manley drew a distinction between the Jeep Gladiator midsize pickup that Fiat Chrysler unveiled in Los Angeles last November, and the “metric ton” pickup sold in developing markets. Rivals such as General Motors Co also sell different versions of midsize pickups in the United States than they offer in less wealthy markets. Source: businessinsider.com

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Markets News 

Trader could lose more than $500 million on a single position if S&P 500 tumbles

“So, bottom line, should stocks emerge from all this government upheaval, earnings gloom and heightened volatility mostly unscathed, the wiley trader pockets $175 million in premiums” writes Shawn Langlois for marketwatch.com. As one investor told Reuters, however, there’s a high likelihood this trade was made as a hedge against another position, and not a straight-up bullish bet. Source: marketwatch.com

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A mystery trader just made a massive bet on the S&P 500 that could lose $558 million if the market turns

“But if the S&P 500 goes the wrong way, the trader may stand to lose up to half a billion dollars” writes Trista Kelley for businessinsider.com. An anonymous derivatives trader is betting big on the S&P 500.Some in the market said the trade was probably a hedge against another position rather than as a speculative bet on a rally in the S&P 500. Source: businessinsider.com

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Markets News Stocks 

Anonymous Buffett-like bet on S&P 500 causes a stir on the options market

“An anonymous trader caused a stir in the U.S. equity options market on Monday with a massive bet that recalled Warren Buffett’s famous wager on global stocks more than a decade ago” reports cnbc.com. Buffett’s Berkshire Hathaway sold billions of dollars in stock index options between 2004 and 2008, betting that markets would rise over the next 15 to 20 years.The trader sold 19,000 put options on the S&P 500 Index obligating him or her to buy the market benchmark at 2,100 on Dec. 18, 2020, data from New York-based…

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