UK parliament moves closer to stopping a no-deal Brexit

[LONDON] The UK Parliament is edging closer to a plan to delay Brexit in order to stop the country dropping out of the European Union with no deal.

The main opposition Labour Party is now increasingly likely to support a move to extend the March 29 exit day deadline, if Prime Minister Theresa May fails to negotiate a divorce agreement, said John McDonnell, the party's chief finance spokesman.

Mr McDonnell described the proposal as a "sensible" way to avoid an economically disastrous no-deal Brexit.

If Labour does support the proposal -- put forward by lawmakers including Yvette Cooper, a former minister -- it is far more likely to win enough backing to be passed. That would force Mrs May's hand and ensure she cannot take Britain out of the EU without a deal in nine weeks' time.

BLOOMBERG