Between the eu and u. K. To avoid some really catastrophic stuff in financial markets, but that is pretty that is pretty limited. The government has certainly stepped up its efforts. That is true on the eu side as well. One of the things thats going to be interesting is if there were an election, there would be some control over how much the government would continue to do no deal planning during the Election Campaign. It is also true that some things could be prepared for and some things you simply cannot prepare for. One of the things people are most worried about is food. You have ministers saying there will be adequate food and enough food, but you also have the supermarkets saying that christmas is going to be a real problem. Joe obviously Boris Johnson in theory wants to call an election for a few weeks from now, but theresa may also called a snap election, thinking that she would dominate, then was done by the for showing of the conservative party. Labour nearly took over. I know the polls right now are pretty good for the tories, but how reliable are they . If there were another election, maybe it doesnt turn out as good for Boris Johnson as he might think . Emma a really good question. There is a reason the conservatives dont want an election before brexit is delayed. Remember, this is the party that nigel faraj set up to make sure that brexit is delivered. In the european elections. There was a real fear in the conservative party that the brexit party would clean up, that they would split the vote and could usher in a labour, liberal democrat government. ,ne of the hardline brexiteers steve baker, was talking today tt would be good to do a pac with conservatives and brexiteers so they dont run candidates in the same places in brder to prevent a labourlid Dem Coalition that would seek to reverse brexit. It is an open question whether Boris Johnson would triumph. Scotland, he has lost because theresa may did make gains in scotland. Joe if there is another election, going back to the same question, how much has it theoretically hurt Jeremy Corbyn and labor that he has not been more unambiguously opposed to brexit . That people who really want to see remain dont totally feel like he is on their side, or as hardcore remain as others. Emma that goes to the heart of the dilemma that the labour 2016, thato face in a of labor voters voted in favor of brexit. There is a sense to this ambiguity and to a certain slowlythey have edged towards a slightly more remainy position. It is always very subtle wording as they edged toward backing another referendum in certain circumstances, but there is a sense to this ambiguity, which is huge numbers of labour voters have defected to the brexit party and voted for brexit in t ow if anyone has crunched the numbers on what is better for the labour party if you have to pick a side, but it is a very tight call. Romaine n london with parliament. They are sent to vote on a motion. This is essentially going to take control of the Brexit Process away from johnson, essentially put it in dnps hands and they would have to vote on what the next path forward is. Passes this vote passes, if it goes against johnsons wishes, what is the next option johnson would have if he wants to up the ante . Emma if he is defeated, what we are expecting is there would be reaction either from the Prime Minister himself or from a minister saying he wants to call an early election, the october 14 election we have been talking about. The other thing we would be expecting is a sort of purge, a crackdown on those who rebelled against him, and a very clear message that they would essentially be expelled. Romaine but if he purges the folks in his party, the tories, doesnt that effectively weaken his position even further . Emma you are right. , butst his majority today he never had the majority for his brexit policy. Thing is a majority on paper when it comes to the majority of tory numbers, another is how many support has brexit policy. Joe there are some great details here on the live blog. As you can see, the room is filling up, so we should be getting results shortly. Rob hutton in london pointing out that the rebel tories are still sitting on the government side of the bench, so not taking their expulsion for granted. Earlier we saw one rebel from the conservative party sit with s, so verym significant. Where people sit seems to be an interesting part of the intrigue. Emma it is, and what is also interesting is where people stand. You can sometimes guess the result of the vote by which side of the speaker the tellers are standing on. It looks like the results are going to be coming pretty soon. Much to emmau very ross thomas, joining us from london. Thats all for whatd you miss . We are going to keep following developments on bloomberg technology, next. This is bloomberg. Taylor we begin with the crucial u. K. Parliamentary vote over brexit. We have been listening and looking at live photos of parliament in brexit. Let me recap for you what has been going on and the significance. What we do know is we are waiting announcements of the crucial brexit vote that has been basically a showdown between members of parliament and Prime MinisterBoris Johnson. We know they are trying to take the Brexit Process away from Boris Johnson. You have found strengthening slightly to 1. 2080. Boris johnson lost his governments ruling ahead of this critical showdown with members of parliament. The brexit crisis has pushed the u. K. Closer toward a snap election, so looking at live photos, awaiting the crucial brexit vote, that really is a showdown between members of parliament and Boris Johnson. We know the Prime Minister has been battling political opponents all day long. His are determined to wreck plans to deliver brexit at all costs by october 31, even if that means leaving with a no deal brexit. This would be the first parliamentary vote in that clash. That is all beginning tonight. Loses, Boris Johnsons officials have said he will set in motion preparations to elect soew government, october 14, that is definitely something we are waiting for. Again, we are waiting for those headlines on the result of that vote. , ado know that earlier today conservative party member, philip lee, dramatically defected. He joined the rival liberal democrats and that is when johnson got to his feet to speak to the house of commons. We will again wait here as we begin that crucial brexit vote int has been sort of a clash trying to take away that Brexit Process from Boris Johnson. For more, i want to bring in bloombergs emma ross thomas, joining us on the phone. For our global audience in new york, San Francisco, london, bring us up to speed the significance of what this vote means. Order emma i dont know if you want to listen to the results, but this vote means we could be hurtling toward another general election. If johnson has lost the vote, that doesnt mean no deal will be taken off the table. [indiscernible] october 14election you off quickly, we are getting the results. The u. K. Parliament has taken the first key steps of blocking a no deal brexit, something Boris Johnson has really wanted to do, go through with brexit october 31 no matter what. Lets listen. Part is on the brink of wrecking any deal we might be able to hand control of the negotiations to the eu. That would mean more delay and more confusion. They eu themselves would be able to decide how long to keep this country and the eu. If i refused to go along with that plan, we are going to have to make a choice. It want an election want an election, the people want an election. The public will have to choose who goes to brussels on october gentlemen is theountry fo Prime Minister, he will go to brussels and beg for an extension [shouting] johnson he will accept whatever brussels demands and we will have years more arguments over brexit. If i go to brussels, i will go for a deal and i believe i will get the deal. Even if we dont leave on october 31, the people of this country will have to choose. The leader of the opposition has been begging for an election for two years. I dont want an election, but if mps vote tomorrow to stop negotiation and compel another point theres, potentially for years, that would be the only way to resolve this. I can confirm we are tabling the motion under the fixed Terms Parliament act. [shouting] order Jeremy Corbyn. On a point of order, i welcome tonights vote. We live in a parliamentary democracy. We do not have a presidency, but a Prime Minister. Thee ministers govern with consent of the house of commons, representing the people in whom the sovereignty rests. In this no consent house to leave the European Union without a deal. Majority for no deal in the country. As i have said before, if the Prime Minister has confidence in his brexit policy, he should put it before the people in a public vote. Motionants to table a for a general election find. Fine. Get the bill through first in order to take no deal off the table. Order [shouting] order i will tell the chancellor of the duchy that when he turns up at our Childrens School as a parent, he is a very well behaved fellow. He would not dare to behave like that dont rant, spare us the theatrics, behave yourself. Be a good boy, young man. [shouting] theatrics that he perfected. Not interested. Be quiet point of order, mr. Ian blackford. The public will be watching these deliberations tonight and what they make up the shouting coming from the heaven only knows. This Prime Minister has a 100 record of losing votes in the house of commons. Lacking. Is sadly Prime Minister, perhaps you might consider acting like a Prime Minister should do. Vote that has taken place in this house tonight. This house can express its opinion that it wishes to remove no deal. Dont give us this nonsense of a fantasy that there is a deal to come from the government. It is simply not true. The government must respect the sovereignty of the house of parliament, must allow it to have consent. Electionus have an with respect to the democracy of this house and the experience parliamentarians have to make sure we dont crash out on a no deal. Point of order. Point of order, mr. Speaker. Across the country, people have been protesting because they are worried. They are worried about the Prime Minister riding roughshod over our parliamentary democracy. Tonight, the house of commons has spoken and said that we will not let that happen. , much as i relish thePrime Minister [shouting] it is vital that this house act with responsibility that does not put our country into an election at a point where there is any risk we will crash out of the European Union during or immediately after that Election Campaign. We must act responsibly. Point of order. I am not going to be shouted down, especially by any man. Madepeaker, tonights vote even the leader of the house sit up. [laughter] parliament hasis spoken on behalf of the jobs and livelihoods and futures of our constituents. Again we have shown that we do not want a no deal brexit and tomorrow we have the opportunity to make sure that yet again we do not crash out without a deal. The primemind minister, as one of the socalled leaders of the leave campaign, he promised the people of this country that we would not leave the European Union without a deal. I think this house now has a right to know the following. The rumor is that every Single Member of the conservative party who voted against their government tonight is going to have to withdrawn from them. Case,eaker, if thats the that must be the first time that it would involve honorable and right honorable members who have served their party, and many would say their country, for decades. Could the Prime Minister confirm, will they have the withdrawn . We need to conduct a debate on that matter. It is not a matter for adjudication by the chair. The right honorable lady has made her point with her customary force and is on the record. Doubtless she will wish to return to that in times to c ome. If there are no more points of order, the clerk will read the orders of the day. Taylor as we have been listening to for the last 20 minutes, it is all about the u. K. Brexit vote. We are getting some headlines. It does look like the u. K. Parliament has taken the First Step Towards blocking the no deal brexit. Boris johnsons government has lost that vote in parliament. For the recap of the drama and the popyrin circumstance, i bring it bloombergs emma ross thomas, joining me from found in london. Da davidsoni have Senior Research analyst rishi jaluria. You also have some thoughts to share. Emma, i cut you off earlier. Remind us again the significance of the vote, Boris Johnson losing. What does it mean . Emma the vote is an attempt by parliament it has happened before to stop the no deal brexit. They are taking control of the agenda in parliament and tomorrow a bill will be put forward to forest an extension to the brexit deadline to force an extension to the brexit deadline. It is a defeat for johnson. He basically said the only choice left is to have a general election, but there is still a hurdle. Johnson needs Parliamentary Support for that election, and the opposition is saying basically we wont vote to allow you to have your general election until this bill to prevent a no deal brexit is passed into law. That is where things stand right now. That no dealmean is necessarily off the table. It is an attempt at a legislative maneuver, perhaps makes it less likely. What it does do is prompt a general election whose outcome would be incredibly uncertain. Whethero be seen ,his is a gamble from johnson the brexit party, the conservatives. Before brexit was delivered, the brexit party, the conservatives. , the brexit party has done very well this year taking votes from the conservatives. Uncertain. Is very taylor we heard from Boris Johnson at the top of his speech that this is another pointless delay. I have to give it to him. Is this not true . What do they think they can accomplish in the next few months that i have not been able to in more than that they have not been able to in more than three years . Emma thats a very good question. There imperative is to avoid the economic chaos and damage that most people think a no deal brexit would cause. We are talking about manufacturing jobs being lost, the sort of cliff edge departure. What this means is the Economic System that has been running for 14 years, whether tariffs or regulations, is suddenly torn asunder overnight and what that means for consumers, markets, jobs. Most people think that is pretty dramatic, so that is their main imperative, to prevent that. Is there a deal the labour party would say they do have a proposal, it would be a softer brexit, maintaining more economic ties. But it remains to be seen. It also remains to be seen what kind of Election Campaign the labour party with right. The labour party has maintained an ambiguous position on brexit since the referendum and even during the referendum on how they would fight does. They had been edging toward remain stance, a second referendum, but it is going to be interesting to see whether that goes further before this general election. Taylor that was emma ross thomas. Joining us at 10 30 p. M. In london as we get those crucial votes coming in. We will bring more as that comes. Joining me here is rishi. He has been patiently waiting. , notworld is tech necessarily u. K. Government, but more and more, your worlds are colliding. Technologically, lyrical risks, tariffs, economic uncertainty. How do you price in this risk . Thank you for having me, always a pleasure to be here. When it comes to tariffs and things like brexit, we have to keep in mind a couple things, mainly how exposed is the company you are looking at to any of these factors . Not all tech is created equal. There has been headlines about how exposed apple is to the china tariff situation. The sector i specialize in, Enterprise Software, tends to be resilient to chinese tariffs because they dont have much reliance on the chinese supply chain. I think it is the same with brexit. With companies that have a lot of exposure to, not just britain, but the European Union countries in general, we have seen some companies talking about softness. Something like what we just a no can go two ways, that deal brexit would be the worst case scenario, so not having that is a potential positive. About like you were alluding to, we are going to have a lot more uncertainty that could end up being worse. You have to isolate company by company and even subsector by subsector within tech to really say, what does this mean for your investments . Taylor is it a fundamental risk or more of this headline risk that makes you nervous when Companies Fall back from investment in the u. K. . I think it is more of a headline risk. It is not the main thing people are paying attention to. Especially within Enterprise Software, there are a lot bigger risks that can weigh on the business and have a much bigger impact, but given the amount of mind share that events like tariffs and brexit occupied, the companies have to be more aware of managing expectations and arguably taking attention away from things that requ