Prime Minister Boris Johnson on Thursday vowed to go the "extra mile" for a Brexit trade deal but instructed his government to prepare for Britain to crash out of the European Union's single market at the end of this year.

The gloom deepened over the drawn-out Brexit saga after Johnson and European Commission president Ursula von der Leyen, over a combative dinner in Brussels, declared a Sunday deadline to decide whether to keep talking or give up.

Lebanese-Brazilian banking magnate Joseph Safra, the wealthiest man in Brazil, died Thursday at age 82 of natural causes, his bank said.

Safra, who had an estimated fortune of $23.2 billion, ranked 63rd on Forbes magazine's list of the world's wealthiest people.

European stock markets wavered Thursday and the British pound dived on the growing risk of a no-deal Brexit after the latest trade talks floundered in Brussels, dealers said.

European Central Bank chief Christine Lagarde unleashed more stimulus on Thursday to help the eurozone confront a second coronavirus wave, and warned that the outlook remained fraught with uncertainty over the pandemic's evolution and the rollout of vaccines.

New applications for U.S. unemployment benefits surged last week by 137,000, according to government data released Thursday, underscoring the need for more economic stimulus as Covid-19 cases hit new peaks.

Britain on Thursday signed a free-trade deal with Singapore, giving it a key foothold in Asia as it seeks to forge its own path after leaving the European Union, while talks on a post-Brexit agreement stumble.

A White House-backed proposal to provide more aid to the ailing U.S. economy includes $600 in direct payments to Americans but has little support among Democrats, a prominent senator said Wednesday.

U.S. stocks came off record highs Wednesday following new disagreements on an economic stimulus package, but Europe mostly rose as a high-level meeting on a post-Brexit deal was set to take place.

Poland's President Andrzej Duda said on Wednesday that the European Union was a step closer to finding a compromise that would unlock its budget and virus rescue package after veto threats from Poland and Hungary.

British Prime Minister Boris Johnson met EU chief Ursula von der Leyen on Wednesday for a working dinner that could save -- or kill off -- hopes for a post-Brexit trade deal.