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Photo: Chris J Ratcliffe/Getty Images

British Prime Minister Boris Johnson said Thursday that he would grant members of Parliament an extended timetable to debate his Brexit deal, provided they back a general election on Dec. 12, per the BBC.

The state of play: Johnson's offer significantly ups the stakes in the ongoing Brexit tumult, but there's no guarantee that Jeremy Corbyn's Labour Party will agree to the offer.

  • Johnson told the BBC's Laura Kuenssberg that — should his offer be accepted — he would try to get his Brexit deal, which passed a procedural parliamentary vote this week, through Parliament before it dissolves on Nov. 6 to campaign.
  • Corbyn would surely rather fight an election without an agreed-upon deal — in effect, turning the election into an extended referendum on Johnson's deal.

Between the lines: This is Johnson's first admission that the U.K. will not leave the EU on Oct. 31, which he previously stated would happen "do or die."

  • He said that he "really" did not want to ask the EU for an extension but was forced to by the political realities.

Go deeper: Everything you need to know about Brexit

Go deeper

Erica Pandey, author of @Work
2 hours ago - Economy & Business

What's really going on with the labor market

Source: YCharts

The labor market is showing some signs of improvement: Jobless claims fell to 730,000 — a dramatic drop from 841,000 the previous week. And the latest jobs report showed a pandemic-era low unemployment rate of 6.3%

But, but, but: That's not the full story, experts say.

Felix Salmon, author of Capital
2 hours ago - Economy & Business

Markets see rare convergence milestone

Expand chart
Data: YCharts; Chart: Axios Visuals

A milestone was reached in the markets Thursday: The yield on the 10-year Treasury note rose to match the dividend yield on the S&P 500

Why it matters: The two yields have been inverted since the beginning of last year, which is historically unusual.

Mike Allen, author of AM
3 hours ago - Economy & Business

First look: Business puts muscle behind Biden

Business Roundtable, the voice of America's top CEOs, today launched "Move the Needle," a campaign to support President Biden in rolling out COVID vaccines, increasing vaccine uptake and encouraging masks.

What they're saying: "Masks and vaccines are working. Now is the time to keep at it, overcome pandemic fatigue, and double down on the measures that will end this public health and economic crisis, said Business Roundtable president and CEO Josh Bolten.