they will decide whether or not to just delay brexit let's get to steve sedgwick live in london with those details steve, are you there it looks look we're having problems with steve sedgwick we have -- let's before i in simon, chief strategist over at b & y melon. always great to have you here. let's talk about the developments here. >> if you look at sterling, i think pretty well every major move that you see on a daily and hourly basis has been connected in one form or another to breck it rs, whether that is extension of article 50, political uncertainty or whether the prime minister's deal with the e.u. will go through, and right now you have all three of those things in play i think that you probably certainly will see over the course of the next week is more volatility starting to emerge, and it will not just be in sterling, but then in related markets. you will likely see it spread out. certainly noticeable in the last few days. >> what is it about the markets right now? what exactly are they expecting? do they know what exactly the outcome will be and what exactly can we expec

have some breaking news in the energy market as well the iea monthly oil report just crossing steve sedgwick is live in london with all of those details, and what are the big headlines, steve? >> yeah. very good morning. they let me in from the cold and the brexit story back to my bread and butter. look, this is very interesting the higher oil prices we've got in global markets at the moment and i'll remind everyone light sweet crude at drars 58.79, and brent trading around about $9 higher than that we're at the higher end of the recent range what is that doing to demand i can tell you, global oil demand slowed sharply in the fourth quarter of 2018 to .95 million barrels. it's due to lower ecb demand this could be about trade wars it could be about slowing europe it could be about slowing u.s. economy as well. perhaps another warning perhaps for those policymakers looking at monetary policy in the u.s. elsewhere as well. global estimates but growth in 2019 according to the iea, which is the representation of the consumers, as opposed to opec, which is the producers, they are staying unchange

there but still, the german dax by one quarter of 1% and the ftse off by about one-tenth of 1% steve sedgwick is live in london with more. what more can you tell us about brexit >> the brits who want to get brexit done, it's moving very quickly. i can tell you yesterday people were saying there's been eight weeks of failure and negotiations and mrs. may failed to get a deal. then she hot foots it to me the commission in strasburg and people thought, wow, we got a deal on three points, they basically could not keep the eu in the back stop, which stops the republic of ireland having a hard border and to replace new technologies and a unilateral statement by the british government they could not stay in the back stop i talked to one government minister and the d.u.p. are absolutely key to mrs. may winning her vote today some of the optimism has eeroded the attorney general, jeffrey cox, he will stand up and say whether he believes legally the british can be kept in an indefinite backstop with the latest agreement so that is going to be absolutely key for the destiny of this vote this evening and

cnbc's steve sedgwick joins us live from london with more. particular point? >> absolutely, louis. good morning to you both. federal prosecutors and the department of transportation, this is the point they're both looking into the development of the 737, max planes as well, highly unusual for a criminal probe to delve into the dealings between the faa and a large airline manufacturer. this is usually carried out as a civil case and d.o.t. and another one to blow your mind, lyft, valuation ahead of the ipo, ahead of the road so, $23 billion. the revenues last year were $1.6 billion, lost 9 million but apparently they're still worth $23 billion. >> how do they come up with that money if they're losing money? >> i think it's based on the valuation of other tech companies as well. ever since amazon came along and changed everything, companies were allowed to build and grow market share without making a profit. >> and amazon clearing a virginia headquarters clearing. after the dismay that amazon had in queens last nun as well, they got thumbs up f

steve sedgwick, will we know in six months then? it's possible. that's the honest truth. we could have another dwo-year extension under certain scenarios. i don't think you'll necessarily know in six months >> i did see some interesting comments from what is the move about a no deal brexit saying that there's countries all over the world that are doing fine in trade and every other area the fear that things were just coming to a grinding halt if you didn't have the e.u. i don't know you have other people that are petrified even about the contagion if it's a no deal brexit >> we've also got today the spring statement from the chance lore he has a bit of a windfall it's better than expected because we've had higher employment he wants to deploy that, but he won't deploy the cash until he knows what's going on brexit that's holding back. investment is holding back companies as well. investing in the u.k i also spoke this morning to a chap called roger. he is a free trader. he believes actually we can lead with a no deal, and he said over 15 years the u.k. could get 140 billi