this is your business briefing with me, sally bundock. sterling rollercoaster. the pound bounces back from a 20 month low as theresa may survives, but its gains could prove to be short—lived. plus, enough chaos. uk firms give a damning verdict on the latest episode, and call on politicians to come together for the sake of the economy. for the markets, as we mentioned, the pound is holding on an asian markets are on the up as investors around the world focus once again and trade discussions between the us and trade discussions between the us and china. it's been another rollercoaster ride for investors in the last 2a hours.

certainly, it here in london and in europe, we have seen the pound moving ina europe, we have seen the pound moving in a volatile way, every twist and turn in either direction as we get more news about the chaos and turmoil within westminster. if we just show you what happened since the rumours of a confidence vote in the prime minister began to emerge late on tuesday. those reports saw sterling plunge to a 20 month low, but you can see the scale of the recovery, as traders decided she was likely to win the vote. now, some of those gains evaporated once the vote numbers were announced and the scale of the rebellion became clear. but still, the pound ending the day up 1.2% — its best day for six weeks. the let's talk about the markets in a broader sense. of course, the markets that are trading right now and have been trading since we got

that news in a in the asia—pacific region. let's go to singapore, where mariko oi is on the trading floor of spread betting firm, ig index. what traders telling you and talk us through the market reaction? well, sally, we found out the result at 5am local time and some of the asian markets started trading at eight a.m..i markets started trading at eight a.m.. i have to say in terms of the stock market, the impact has been eyed ltd, japan, south korea and australia opens flat or higher, not because of what happened in the uk but because of easing concerns over the us—china trade war, of course, as you mentioned, in the currency market, we have seen very volatile trading over the british pound. i have with me the sales trader at ig and hejoins have with me the sales trader at ig and he joins us have with me the sales trader at ig and hejoins us live. thank you have with me the sales trader at ig and he joins us live. thank you so much forjoining us today and. what has been like for your, has been a really busy day for you? yeah, i

think today has been quite quiet. i think today has been quite quiet. i think the really big development in the uk has not affected the asian markets march, the asian markets we re markets march, the asian markets were trading higher actually mostly oi'i were trading higher actually mostly on the optimism between the us and china trade deals. so the tracks that situation is not affecting asian markets right now. over a third of theresa may's mps voted against theresa may, it was to be a ha rd against theresa may, it was to be a hard deal brexit, no brexit, do you think that would then have an impact on asian markets? yes, i think that would definitely have more impact on asian markets. by now, the focus is whether theresa may is able to get some concessions on the meeting with the european union. it is very hard to to get the deal passed the parliament, senior manager can get to the deal will be beneficial to help garner more votes and make a

change to the current situation. in the event of a high brexit or no deal situation, i think the asian markets will be heavily more focused on this development. thank you so much for the insight. so still a lot of uncertainty is, of course we are expecting that vote before the 21st of january but until then, expecting that vote before the 21st ofjanuary but until then, asian investors are just taking that wait and see approach. thank you so much. good to get that reaction there and good to get an idea of what people are thinking outside the united kingdom, of europe. let's now gauge the reaction from businesses at home because the confederation of british industry, which represents 190,000 uk firms, has described wednesday's vote as a "chaotic detour". in a statement, it says: "politicians must finally stop the endless infighting of the past 30 months and come together to secure a workable brexit deal. companies and the country have had enough of chaos. this must mark a turning point, a chance to restore confidence in politics and our economy."

that is the view from them. here's the bbc business editor, simonjack. business groups are calling this, my favourite line from the many, a chaotic detour and it does feel a bit like you in a car chase and the lead car has gone off to a bind, lots of chickens come out the window squawking and then you get back on the road, only to find out that the car that was chasing you are still chasing you because we are essentially, as adam sales down access, bhakra we were at the beginning of this week with the deal on the table that no one thinks anyone likes enough to get to parliament. —— barn. that is causing great consternation for business, she is kicked the bow from ideal, of course, into the new year. those in the pound to wobble. —— far from

ideal. there is a famous saying in this part of the city which is by the room and sell the news, and i think there is a growing realisation that as we said, chaotic detour but we are back on the same road that we we re we are back on the same road that we were before. —— rumour. those who can letting industries build, they are managing their cash flows, they are managing their cash flows, they are getting licences in order because a lot of them are saying that by the time it get to this vote and before january 21st, if it even happens there, that will be very much in what one supermarket executive told me was squeaky bum time, channelling sir alex ferguson there. so a chaotic detour, we're pretty much back on the same road we we re pretty much back on the same road we were in it is not a very scenic tour, it is one full of uncertainty, and one that businesses are finding it almost impossible to plan for.

0ur it almost impossible to plan for. our business editor simon jack there. as he said there, we feel like we on the same road as before. the question is what the are we in oi’ the question is what the are we in or maybe we at even in reverse. ann francke is chief executive of the chartered management institute. you have been listening in to all of that. give us your reaction to what has been going on this week in westminster and in particular, the last when he flowers. well, i would say sticking with the metaphor, it is as if we are in a pantomime politics, an amateur version of peter pan and indeed, businesses are stuck in neverland, the uncertainty continues. we are back to the same old uncertainty, incredibly difficult to plan, we know that their quarters of our members are very pessimistic about the economy, they are struggling to find staff, they are struggling to find staff, they are struggling to find storage space to cope with the range of outcomes. and as you say, everyone is exasperated, they are frustrated at we will be here for some time

because of course, theresa may today in brussels trying to get some sort of concessions and the irish backstop, but we have no idea what she may or may not achieve and what she may or may not achieve and what she can then bring back you to westminster. well, indeed, and even if she does achieve one thing, she will alienate perhaps others in parliament, so there is a huge variety of outcomes and we know nowhere near consensus, and that is what we need. the management and leadership to bring consensus to the country and let's get on with the job of running the country and running the economy. thank you for now. back spin in our other guests now. back spin in our other guests now. “— now. back spin in our other guests now. —— let us bring in. anahita thoms is head of the international trade practice at the law firm, baker mckenzie. she is in our brussels bureau. from the point of view, from your perspective in brussels and from the perspective in brussels and from the perspective of a lawyer, what are you thinking theresa may needs to

gain today in brussels to bring back you to westminster? it has been made very clear from the very beginning that renegotiations is something that renegotiations is something thatis that renegotiations is something that is not on the table. there is the best deal possible available, on the best deal possible available, on the table, and clarifications are possible, assurances are possible, but we do not want to renegotiate again. i think this has been made very clear, and what is needed right now for businesses all around the world, particularly in the eu 27, is we wa nt world, particularly in the eu 27, is we want clarity, please get back to business, and no distractions any more. well, that is a very good point, but no distractions any more, there are going to be distractions. the likes of jacob rees—mogg there are going to be distractions. the likes ofjacob rees—mogg and others will not be quiet. well, of course, and we still have a range of options under way, we have the second referendum, we have the hardline exit is still saying they

are going to run guerrilla warfare, actually we need to stop all the politicising and get back to the job of running the country, running the economy for the good of everybody. and in terms of the issue of international trade, of course, european businesses are as worried about this as uk businesses, aren't they? exactly, that is exactly right. we are cautiously optimistic that after the unnecessary distraction yesterday, everybody will get back to getting this deal done because it is not good for our businesses either. all ceos i have been speaking to and councils, they are unhappy about the situation and we wa nt are unhappy about the situation and we want to have clarity as soon as possible. all right, thank you so much forjoining us live from brussels, and also thank you so much

have been with us here in westminster as well, live on the briefing. let's quickly have a look at how things have been going on the markets in asia. ahead of the vote decision that we got late yesterday in london, the hang seng holding its value. hundreds of police, soldiers and border agents are involved in the hunt for a gunman suspected of opening fire near a christmas market in strasbourg. cherif chekatt is accused of killing two people and injuring 13 others in the attack on tuesday evening. the most wanted man in europe.

cherif chekatt suspected of being terror to strasbourg, and now police wa nt terror to strasbourg, and now police want him brought to them. the search for the 29—year—old continues today, with hundreds of police, soldiers and border agents on both sides of the border between france and germany. french at have acknowledged that he may no longer be in the country. —— authorities. it is believed the gunmen who opened fire near strasbourg's famous christmas market on tuesday evening, killing 13 people and —— two people and injuring 13 others, was and is to make himself injured in a shootout. these have warned people not to approach chekatt, was already known to these officers as a possible islamist terrorist threat. that nearby apartment, a neighbour who did not want to be identified painted a different picture of the suspect. translation: there was no

sign of radicalisation. he is a really normal person, yeah, i cannot say more than normal. he was most too, as i say. he respected women. meanwhile, the french foreign minister has said the country will be stepping up security in the wake of the attack, particularly about christmas markets. as attribute ‘s mount, france is now on the highest apple of alert. —— as the tributes mount, france is now on the highest level of alert. navteonehal, bbc news. breakfast will be live from westminster with charlie stayt and naga munchetty at 6am. do stay with us here on bbc news. this is the briefing from bbc news. the latest headlines: theresa may survives a vote of no confidence in her leadership. 200 conservative mps backed her premiership, 117 voted against. the prime minister will travel to brussels later today for a european summit, where she hopes to find a political

solution to the problems her brexit plans face at westminster. now it's time to look at the stories that are making the headlines in the media across the world. back to westminster first with sally. thanks very much and. we promised we would look at the papers for you —— thanks very much. let's have a look at what they're saying in the light of the outcome of the light of confidence in the prime minister, theresa may. we begin with the daily mail, which says its time we let prime minister theresa may get on with the job of delivering brexit now she has seen off the plotters within her own party who sought her resignation. —— it's. the guardian also leads, describing the confidence vote as a failed coup attempt by members of her own party however observes mrs may has been damaged by the contest which has exposed a bitter split within the conservatives. the telegraph says the prime minister has emerged deeply wounded by the vote result which has puts her own future and brexit itself in doubt. the paper belives the result leaves

the conservative party more divided than ever, with the vote breaking down largely along leave and remain lines. the mirror takes a christmas slant, calling the prime minister a lame duck for christmas, as mrs may promises not to run in the next election. the paper says her eu withdrawal deal hangs by a thread increasing the chances for a second referendum. and finally, the irish times takes a different angle, explaining the prime minister won the confidence vote