Breaking news: Dutch central bank fines cryptocurrency exchange Binance for breach of registration rule

July became the month of unexpected plebiscites. First comes the mind-boggling: the UK’s ruling Conservative Party allowed a confidence vote on Monday. The “sideshow”, as the FT’s parliamentary team called it last week, which is certain to be won by the ruling party, is best seen as an effort to inspire unity among Tory MPs after the stormy collapse of Boris Johnson’s premiership.

After this weekend’s televised debates, we move into Super Monday, a series of reshuffles and another vote to further whittle down the field of Tory MPs who want to become the new leader, and therefore prime minister. You can follow the events on this FT page.

Once they are in the final pairing, expected on Wednesday before the summer parliamentary recess, the party’s national membership will receive a final vote that will allow a new leader to be in place by September 5. Get ready for a summer full of fun transfers and media appearances, and no doubt some leaks and slurs from two rival camps that have already been very competitive.

Sri Lankan lawmakers will elect a new president on Wednesday to replace Gotabaya Rajapaksa, who fled the country after protesters stormed his palace ahead of his resignation last week. Whether this will quell anger over food shortages and rampant inflation remains to be seen.

Draupadi Murmu welcomes the support of Prime Minister Narendra Modi’s Bharatiya Janata Party © AFP via Getty Images

One election was expected this week. The Indian parliament will decide on the new president of the country. The winner, expected to be announced on Wednesday, is expected to be veteran politician Draupadi Murmu, who supports Prime Minister Narendra Modi’s Bharatiya Janata Party. But perhaps this will be another unexpected election story.

Back in the UK and back to his usual diary of events in July, Nadhim Zahawi will address city leaders in the chancellor’s annual Mansion House speech. Zahawi has only been chancellor for less than two weeks and may not be in office long after his party’s new leader is decided, but he is expected to grab the headlines by unveiling a relaxation of city rules to make it easier and faster for companies to increase their holdings. money per square mile.

Speaking of things to look forward to, Britain’s summer of discontent is in the air like the country’s sweltering temperatures. Lawyers, post managers and brewery workers plan to walk off the job this week.

Finally, an event that hasn’t happened “in person” since 2020 will return. pandemic lockdown: Farnborough Air Show. Unusually for an international gathering of aerospace executives, organizers decided to advertise the return of the event on the side of the bus. Hopefully, this doesn’t mean very British transport solutions, replacement bus services, will be on the air.

Economic data

The two “i’s” – inflation and interest rates – will be in the spotlight again, with the European Central Bank’s monetary policy committee meeting in the spotlight.

The week will end with another set of international benchmark purchasing managers’ index data reports.

Companies

The current earnings season is in full swing with announcements from the rest of the major U.S. bank mergers and a host of tech, media, auto and healthcare companies.

Also sharing on Monday Haleon is set to go public on the London Stock Exchange, completing the spin-off of the consumer healthcare business from GSK, with the parent company’s blessing. Haleon, whose brands will include Sensodyne toothpaste, painkillers Advil and Panadol, is expected to be worth as much as $45 billion.

Godfrey Kemp

"Bacon fanatic. Social media enthusiast. Music practitioner. Internet scholar. Incurable travel advocate. Wannabe web junkie. Coffeeaholic. Alcohol fanatic."

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