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Theresa May speaks today from Downing Street. Photo: Jack Taylor/Getty Images

With Parliament having rejected every Brexit solution put forward so far, and an economically disastrous "no deal" exit from the EU looming, U.K. Prime Minister Theresa May said Tuesday that another "short" Brexit extension is necessary and that she's ready to compromise with the opposition Labour Party.

Details: After a marathon cabinet meeting during which members' phones were confiscated to avoid leaks, May offered to meet with opposition leader Jeremy Corbyn to seek a joint plan "to ensure that we leave the European Union and that we do so with a deal." Failing that, May proposed that she and Corbyn would agree on a series of votes to be put to Parliament, while promising that the government would stick to whatever plan gains majority support.

"This is a decisive moment in the story of these islands and it requires national unity to deliver the national interest."
— Theresa May

Our thought bubble: May's embrace of "national unity" comes pretty late in the game. Heretofore, she has prioritized holding together her Conservative Party, a large faction of which has lambasted her plan as far too "soft." She even offered to resign once Brexit is delivered in an attempt to win their support. But with all else having failed, May has finally decided she needs Labour votes to pass any plan through Parliament.

What to watch: May said that in order to carry out her new approach, the U.K. will need another extension of the Brexit deadline, which was already pushed back from March 29 to April 12.

  • The EU has been resistant to the idea of further extensions that only prolong the U.K.'s domestic political squabble.
  • May said a solution must be finalized by May 22 so that the U.K. isn't forced to take part in European elections, but the EU may not accept that proposal. "No deal" remains the default option unless and until an extension is agreed.

Go deeper: Everything you need to know about Brexit

Go deeper

Toyota to build $1.3 billion U.S. battery plant in North Carolina

The all-electric Toyota bZ4X, the company's first battery-electric vehicle, at the Los Angeles Auto Show in Los Angeles, California on Nov. 17. Photo: Frederic J. Brown/AFP via Getty Images

Toyota announced Monday it's investing $1.3 billion to construct an electric vehicle battery "megasite" near Greensboro, North Carolina, set to open in 2025.

Why it matters: Toyota's Prius hybrid won environmental plaudits when it launched in 1997, but it has since lost ground to electric vehicle world leader Tesla, per Axios' Joann Muller. This battery plant will be the first to produce automotive batteries for Toyota in North America.

4 hours ago - Politics & Policy

Congress hunts for shortcut to pass defense funding, debt limit combo

Senate Majority Leader Chuck Schumer returned to his office Monday. Photo: Anna Moneymaker/Getty Images

The scramble in Congress to pass the National Defense Authorization Act is being complicated by an effort to tie it to a needed hike in the federal debt limit.

Why it matters: The House and Senate are rapidly coming up against a series of deadlines they must address before the end of the year — or risk disrupting crucial military funding and upending the economy. Congressional leaders are now hoping they can knock out both "must-pass" priorities in one, complex swoop.

Scoop: Inside Jake Sullivan's call with U.S. hostages' families

Photo: Jim Lo Scalzo/EPA/Bloomberg via Getty Images

National security adviser Jake Sullivan spoke last week with relatives of U.S. hostages and others wrongfully detained abroad, after more than two dozen families expressed frustrations about their inability to get a meeting with him or President Biden, Axios has learned.

Why it matters: Participants on the video call, which began at 7pm ET Friday and lasted more than an hour, told Axios they didn't get satisfactory answers to many of their questions. Nonetheless, they were encouraged by Sullivan's commitment to follow up and pledge to be personally available to them and others going forward.