Theresa May says she won’t step down after losing party majority

In calling a snap election to boost her support in BREXIT negotiations, British Prime Minister Theresa May lost her Conservative party’s parliamentary majority. The election Thursday left her party with 318 seats and expanded her main rival Jeremy Corbyn’s Labor seats to 262. May indicated she will try to form government as Tories are still largest party, but the knives are out for her leadership with rivals lining up to topple her.

In nine days, May goes into negotiations on terms for the UK exit from the European Union with a weakened hand, after losing her election gamble. The pound slipped down more than 2pc against the dollar in one day.