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The man with the deal. Photo: WIktor Szymanowicz/NurPhoto via Getty Images

U.K. Prime Minister Boris Johnson announced this morning that he's reached a "great new" Brexit deal with the European Union — a statement almost unforeseeable one week ago, when Johnson seemed to be steaming toward a constitutional crisis over a potential "no deal" Brexit on the Oct. 31 deadline.

Between the lines: Johnson's deal is similar to the one his predecessor, Theresa May, saw repeatedly rejected in Parliament (including by Johnson), with some tweaks around the crucial issue of Northern Ireland.

  • The parliamentary arithmetic looks tricky for Johnson too, as he no longer has a working majority and a Northern Irish party that supports his government, the DUP, has rejected this deal.
  • Jeremy Corbyn, leader of the opposition Labour Party, has said this deal is "even worse" than May's. Labour wants a second referendum in which the public can accept or reject the deal.
  • The British pound is surging. It had weakened significantly on the prospect of "no deal," which would be economically calamitous as it would see trading arrangements dissolve overnight.

What's next: Johnson wants Parliament to convene to vote on his plan this Saturday. That's the deadline the opposition and rebels within his own party imposed to either reach a deal with the EU or seek a deadline extension beyond Halloween. It should be dramatic.

Go deeper

Updated 7 hours ago - Sports

The potential GOAT of chess faces intriguing challenger

Illustration: Sarah Grillo/Axios

The World Chess Championship between Norway's Magnus Carlsen and Russia's Ian Nepomniachtchi began on Friday, 1,094 days after Carlsen won his fourth consecutive title.

Why it matters: During the long, COVID-fueled layoff, chess entered a new era, and with the championship finally here, the age-old game is ready for its close-up.

Department of Interior proposes raising cost of drilling on public lands

A horizontal drilling rig and a pump jack sit on federal land in Lea County, New Mexico. Photo: Callaghan O'Hare/Bloomberg via Getty Images

Oil and gas companies should pay more to drill on federal lands and waters, the Department of the Interior argued in a report released Friday, saying that the current rates were "outdated."

Driving the news: The Department of Interior report said that the federal government's oil and gas leasing and permitting program "fails to provide a fair return to taxpayers, even before factoring in the resulting climate-related costs that must be borne by taxpayers."

8 hours ago - Health

U.S. to restrict air travel from 8 countries over new COVID variant concerns

A COVID-19 vaccine is administered. Photo by Joe Raedle/Getty Images

The U.S. will impose new air travel restrictions in response to the Omicron variant, a new COVID strain first detected in South Africa, President Biden announced Friday.

The big picture: Air travel from South Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi will be restricted starting on Monday.