United Kingdom

Brexit standoff continues as EU, U.K. leaders dig in

Theresa May
British Prime Minister Theresa May speaking at the EU summit in Salzburg, Austria. Photo: Sean Gallup via Getty Images

At an informal EU summit in Salzburg, Austria, British Prime Minister Theresa May said her Chequers plan for Brexit is "the only serious and credible proposal" that has been brought to the table, while European Council President Donald Tusk said the plan "will not work," reports BBC News.

The big picture: Negotiators for the U.K. and the EU cannot get past the question of what to do about the Irish border. Tusk has said that, if needed, there will be a special EU summit on Nov. 17 and 18. But May's persistence that Chequers is the only possible way forward — despite today's forceful rejection by EU leaders — offers little reason to be optimistic that a compromise will be reached.

Comcast, Fox headed to settlement auction for Sky

Photo: Daniel Leal-Olivas/AFP/Getty Images

21st Century Fox and Comcast are likely headed to a settlement auction this weekend, after a months-long bidding war for European broadcaster Sky.

Why it matters: Sky is a unique international property because it reaches millions of European homes and has a growing streaming audience. Both American broadcast giants were looking to increase their international footprints, although the equation has changed for Fox now that it has agreed to sell some of its assets to Disney.