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

Trendingnow

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Current price of oil as of July 1, 2026

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Current price of oil as of July 1, 2026
LeadershipBrexit

Theresa May to Take Over as Britain’s Prime Minister Later Today

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
July 13, 2016, 4:17 AM ET
Theresa May Remains The Favourite To Become Conservative Party Leader
Photograph by Jack Taylor—Getty Images
Add Fortune on Google for similar content.

Theresa May will take over the job of British prime minister from David Cameron on Wednesday after a series of political shocks caused by Britain’s vote to leave the European Union.

May, who has been interior minister for six years and is seen by her supporters as a safe pair of hands to steer Britain through the disruptive process of leaving the EU, will become Britain’s second woman prime minister, after Margaret Thatcher.

Cameron, who led the campaign to remain in the 28-member bloc Britain had joined in 1973, announced the morning after the June 23 referendum that he would stand down, triggering a leadership contest in the ruling Conservative Party.

The contest had been due to last until September but ended unexpectedly on Monday when junior energy minister Andrea Leadsom, May’s last rival candidate after others were eliminated, abruptly pulled out.

After taking part in his last weekly session of Prime Minister’s Questions (PMQs) in parliament’s House of Commons at lunchtime, Cameron will make his way to Buckingham Palace to tender his resignation to Queen Elizabeth.

May will then enter Number 10 Downing Street as prime minister before the end of the day.

She is expected to immediately start putting together a new cabinet, a complex political balancing act in which she will try and satisfy opposing camps in her party, which was bitterly split over the EU issue.

Before the referendum, May had campaigned for Britain to remain in the EU, albeit in a low-key fashion. Since the vote, she has repeatedly said that “Brexit means Brexit” and her backers say she is determined to make the exit a success.

Despite pressure from other EU capitals to quickly start negotiating the terms of Britain’s exit, May has said she would not be rushed into triggering article 50 of the EU’s Lisbon Treaty, the formal step that will kickstart the process.

She is expected to promote women ministers to several senior roles, and Cameron’s long-serving finance minister George Osborne could lose his job, according to media reports.

PMQs is usually a rowdy event, involving combative exchanges between Cameron and the leader of the main opposition Labour Party while lawmakers from both parties boo and cheer.

But with Cameron on his last day in the job and Labour mired in a profound crisis, the atmosphere at this PMQs is likely to be very unusual.

After months of simmering discontent among Labour lawmakers with party leader Jeremy Corbyn, the conflict exploded into the open after the referendum when the vast majority of the lawmakers rejected his leadership. He is being challenged for the job by lawmaker Angela Eagle.

Corbyn has clung to his job, citing support from the party grassroots, and the 116-year-old party is now locked in a bitter power tussle that risks destroying it.

 

The shocks of the referendum result, Cameron’s resignation, a series of other surprise moves in the Conservative Party and the crisis in Labour, have plunged Britain into its deepest political crisis in modern times.

Financial markets, which had been extremely volatile since the referendum, reacted positively to news on Monday that May would become prime minister earlier than expected, with sterling making strong gains against the dollar and the euro.

About the Author
By Reuters
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Leadership

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 Leadership

U.S. Treasury Secretary Scott Bessent
EconomyDebt
AI’s $2.2 trillion deficit fix is already half fake, economists say
By Tristan BoveJuly 2, 2026
1 hour ago
Mark Zuckerberg, wearing a white shirt, smiles. He is standing in front of a crowd.
SuccessMark Zuckerberg
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the ‘highest-quality beef in the world’ on his $300 million estate in Hawaii
By Sasha RogelbergJuly 2, 2026
3 hours ago
Chris Hulatt co-founder of Octopus Group
SuccessHow I made my first million
A 2-year taste of the office was enough to make 3 grads quit. Now they run a $13.2 billion investment firm: ‘We didn’t want a traditional job again’
By Orianna Rosa RoyleJuly 2, 2026
4 hours ago
Woman taking photo in scenic landscape
Successlifestyle
Americans are escaping the U.S. for New Zealand where house prices have hit a new low—but only wealthy Americans with $3 million spare can invest
By Emma BurleighJuly 2, 2026
5 hours ago
Jason Lemkin
Successwork-life balance
This investor won’t back startups unless staff are in the office 6 days a week: ‘Not because I don’t have empathy, because they’re going to fail’
By Preston ForeJuly 2, 2026
5 hours ago
The true cost of Donald Trump’s $2.2 billion year
NewslettersCEO Daily
The true cost of Donald Trump’s $2.2 billion year
By Diane BradyJuly 2, 2026
10 hours ago

Most Popular

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
2 days ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
8 days ago
Current price of oil as of July 1, 2026
Personal Finance
Current price of oil as of July 1, 2026
By Joseph HostetlerJuly 1, 2026
1 day ago
Trump got a $78K pension from the Screen Actors Guild in 2025 because he appeared in Home Alone 2 in 1992
Politics
Trump got a $78K pension from the Screen Actors Guild in 2025 because he appeared in Home Alone 2 in 1992
By Sasha RogelbergJuly 1, 2026
1 day ago
CEO of $248 billion cybersecurity company says workers are about to face a ‘Darwinian moment’ thanks to AI: Evolve or get cut
Success
CEO of $248 billion cybersecurity company says workers are about to face a ‘Darwinian moment’ thanks to AI: Evolve or get cut
By Emma BurleighJuly 1, 2026
1 day ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
5 days 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.