Yesterday it seemed as if U.K. Prime Minister Theresa May was on her way to pulling a rabbit out of the hat. Well today it seems the hat was empty. Her Brexit proposal makes too many concessions to the European Union, opponents say. Now, they're gunning for her. —David E. Rovella

Here are today's top stories

May was once described as a “dead woman walking” after losing her party’s majority in the June 2017 election. She survived that fallout, but she’s in trouble again. Here's how the conservatives can push her out.

As for Brexit itself, the made-up word has been everywhere for a while now, but do you really understand what this mess across the pond is all about? Here is everything you need to know.

U.S. investors didn't seem to care about the U.K.'s political implosion Thursday. Stocks rose for the first time in six days, with battered tech shares leading the rebound on speculation trade tensions will ease.

That speculation may be tied to a series of potential trade concessions China outlined to the Trump administration, the first time that's happened since summer.

President Donald Trump may want to consider that offer. A prominent Chinese venture capitalist and former president of Google China said his investment firm will withdraw from the U.S. if this keeps going.

Senate Majority Leader Mitch McConnell refuses to allow a vote on a bill to protect Robert Mueller as more fellow Republicans line up in support of it. Trump's recent firing of Jeff Sessions and his unsupported attacks on the special counsel's Russia collusion probe haven't helped matters.

What's Joe Weisenthal thinking about? Bitcoin. The Bloomberg news director notes that if you look at a one-year chart, there's a simple pattern of a stable floor, but lower highs. That pattern broke decisively Wednesday, and badly. And it's going to get worse.

What you'll need to know tomorrow

Sponsored Content by Divvy

Are you living in expense report hell? You don’t have to. Divvy eliminates expense reports, rids you of saving receipts, gives you better visibility of over company spending, and it’s free. Yup. 100% free. Sign up for a demo now and get $100. Get a demo!

What you'll want to read tonight

Very Old Train Station For Sale. Only $35 Million

In New York City, that kind of money could buy a mansion in the heart of the Upper East Side, one with eight bedrooms and all the fixings. Or, in the case of the embattled Metropolitan Transportation Authority, the agency that presides over the city's collapsing subway system, you can get Grand Central Station. What a bargain.

Have you started strategizing for 2019? We have. Don’t miss the annual Bloomberg Businessweek special report, The Year Ahead, on the major trends, disruptions, breakthrough products, innovations and movements to watch in the coming year. Get Bloomberg All Access in time to receive this issue in print and much more.

Get the latest on what’s moving markets in Asia. Sign up to get the rundown of the five things people in markets are talking about each morning, Hong Kong time.

Download the Bloomberg app: It's available for iOS and Android.