• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there

1

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Brexit

Theresa May Could Be Close to a Brexit Deal but She’s Losing Tory Party Members

By
Alex Morales
Alex Morales
,
Jessica Shankleman
Jessica Shankleman
,
Tim Ross
Tim Ross
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Alex Morales
Alex Morales
,
Jessica Shankleman
Jessica Shankleman
,
Tim Ross
Tim Ross
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
February 20, 2019, 6:00 PM ET

U.K. Prime Minister Theresa May is racing to find a way out of the Brexit impasse amid mounting evidence that an agreement is within reach.

Brexit Secretary Steve Barclay and Attorney General Geoffrey Cox are due in Brussels on Thursday with proposed changes the U.K. is seeking to the divorce deal to make it acceptable to the House of Commons.

That follows a meeting Wednesday between May and European Commission President Jean-Claude Juncker that they described in a joint statement as “constructive.” Meanwhile Spanish Foreign Minister Josep Borrell told Bloomberg an agreement is already being hammered out.

In a sign of the rising optimism in May’s team, two senior ministers privately predicted that a deal would be reached within days and potentially put to a vote in Parliament next week.

Still, the progress in Brussels comes as problems mount domestically for the premier with lawmakers quitting her party and ministers plotting to challenge her in a crunch vote next week.

With fewer that 40 days to go until Brexit day, both sides are wrestling with how to get a deal over the line. They’re trying to avoid the U.K. crashing out of the bloc without an agreement, potentially crashing the pound and damaging both the British and EU economies.

Irish Backstop

The deal May reached last year with the EU was rejected by the House of Commons last month in a record defeat for a U.K. government. Objections from the pro-Brexit wing of her Conservative Party centered on the so-called Irish backstop, which seeks to guarantee no hard border in Ireland after the split. May is now seeking legal guarantees to ensure the backstop can only be temporary.

One of the ideas the British side has been considering is an added “codicil” or appendix to the Brexit deal. This legally enforceable text could give the U.K. a unilateral exit mechanism from the backstop, but with a long 12-month notice period, according to a senior official who asked not to be named.

Working ‘At Pace’

May and Juncker on Wednesday discussed what legal assurances are possible on the temporary nature of the backstop, according to their statement. Crucially, it made no mention of reopening the withdrawal agreement, a key demand of May’s domestic opponents. The two leaders also discussed possible additions to the political declaration setting out the broad strokes of a future relationship between the U.K. and EU.

“We’ve agreed that work to find a solution will continue at pace,” May told broadcasters after their meeting. “Time is of the essence, and it’s in both our interests that when the U.K. leaves the EU it does so in an orderly way.”

In a sign of how little faith the EU has in May’s ability to drive a renegotiated deal through Parliament, the bloc wants to test proposed changes to the backstop in the House of Commons first. Only when they’re sure it’ll do the trick would they then get EU leaders to sign off on the text at a summit, two officials told Bloomberg.

Ministerial Challenge

But the premier wants to be able to show Parliament that she’s made significant progress on getting the Irish backstop fixed by next week, according to a person familiar with her plans. She’ll attend an EU summit in Egypt on Sunday, and talks on Brexit are expected on the sidelines. It’s not a European Council meeting and not all leaders are expected to attend, so major decisions can’t be made there.

May is racing to beat a deadline of Feb. 27, when Parliament is due to have another vote on Brexit. If she has nothing to show for her efforts by then, rank-and-file lawmakers are threatening to seize control of the process, and force her to postpone the March 29 exit day.

In a sign of the challenge the prime minister faces next week, as many as 15 ministers are debating voting against her Brexit strategy and then challenging her to fire them in next week’s planned ballots, three people familiar with the matter said. The senior officials want to back a cross-party effort to stop Britain crashing out of the bloc without a deal.

Adding to her domestic woes, three lawmakers quit the party Wednesday to join eight Members of Parliament who earlier this week quit the Labour Party. Announcing their resignations, Anna Soubry, Sarah Wollaston, and Heidi Allen criticized the premier for trying to placate the hard-line Brexiteers in her party and warned that more Tories may quit.

About the Authors
By Alex Morales
See full bioRight Arrow Button Icon
By Jessica Shankleman
See full bioRight Arrow Button Icon
By Tim Ross
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

How the World Cup is a high-stakes stage for Big Tech’s AI push
NewslettersCIO Intelligence
How the World Cup is a high-stakes stage for Big Tech’s AI push
By John KellJune 10, 2026
22 minutes ago
‘I love the inflation’: Trump is ‘not concerned’ about inflation hitting 4% for the first time since 2023. ‘The numbers were great’
EconomyDonald Trump
‘I love the inflation’: Trump is ‘not concerned’ about inflation hitting 4% for the first time since 2023. ‘The numbers were great’
By The Associated Press and Christopher RugaberJune 10, 2026
37 minutes ago
A man guides a ship in the water.
EnergyOil
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
By Sasha RogelbergJune 10, 2026
1 hour ago
Honda recalls nearly 900,000 cars thanks to rear suspension problems
RetailHonda
Honda recalls nearly 900,000 cars thanks to rear suspension problems
By The Associated PressJune 10, 2026
1 hour ago
Anthropic accused of ‘secret sabotage’ as Claude Fable 5 silently limits capabilities for AI researchers and developers
AIAnthropic
Anthropic accused of ‘secret sabotage’ as Claude Fable 5 silently limits capabilities for AI researchers and developers
By Sharon GoldmanJune 10, 2026
2 hours ago
A 5-week course and a guaranteed job: Meta commits $115 million to solve the skilled-trades shortage stalling its AI buildout
Future of WorkMeta
A 5-week course and a guaranteed job: Meta commits $115 million to solve the skilled-trades shortage stalling its AI buildout
By Jacqueline MunisJune 10, 2026
2 hours ago

Most Popular

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
Asia
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
By Kate O'Keeffe and BloombergJune 8, 2026
2 days ago
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
Economy
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
By Nick LichtenbergJune 9, 2026
1 day ago
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Success
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
By Preston ForeJune 8, 2026
2 days ago
Current price of oil as of June 9, 2026
Personal Finance
Current price of oil as of June 9, 2026
By Joseph HostetlerJune 9, 2026
1 day ago
Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
Investing
Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
By Eva RoytburgJune 9, 2026
22 hours ago
Current price of silver as of Tuesday, June 9, 2026
Personal Finance
Current price of silver as of Tuesday, June 9, 2026
By Joseph HostetlerJune 9, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.