The daily business briefing: June 7, 2019

Theresa May steps down as Conservative Party leader after Brexit failure, May job growth falls far below expectations, and more

Theresa May between two flags
(Image credit: EMMANUEL DUNAND/AFP/Getty Images)

1. Theresa May stepping down as Conservative Party leader

Theresa May steps down as leader of the U.K.'s Conservative Party on Friday, after her leadership crumbled over her failure to get lawmakers to approve her plan for the country's exit from the European Union. May, who announced her resignation two weeks ago, will continue to serve as prime minister until the party picks her successor. Party rules set a Monday deadline for nominations. Eleven Conservative members of Parliament are vying for the position, although party leaders have set rules designed to weed out those with no chance, to avoid dragging out the process.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.