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Live news updates: Sri Lanka declares state of emergency ahead of presidential poll

July has become a month for unexpected rants. The first is embarrassment: the UK’s ruling Conservatives allow a vote of confidence on Monday. This “show” as the FT . parliamentary group label it Last week, the ruling party was certain to win, seen as an attempt to strengthen unity among Tory MPs following the volatile ouster of Boris Johnson’s prime ministerial term.

Which brings us to “Super Monday,” a series of votes and another vote to further take down the group of hopeful Tory MPs seeking to become the new leader – and thus the prime minister – following televised debates this weekend. You can follow the events via this FT page.

As they reach the final matchup, scheduled for Wednesday before the summer recess, the party’s national members will get the final vote, allowing a new leader to be elected. replacement on September 5. Prepare for a summer of fun and media appearances, and certainly some leaks and smear stories, from two opposing factions in an already established contest. is a highly competitive contest.

In Sri Lanka, MPs will be on Wednesday elect a new president to replace Gotabaya Rajapaksa, who fled the country after protesters stormed his palace before resigning last week. Whether this can quell anger over food shortages and rampant inflation remains unproven.

Draupadi Murmu, wearing a traditional headdress, attends an event in Mumbai

Draupadi Murmu is supported by Prime Minister Narendra Modi’s Bharatiya Janata party © AFP via Getty Images

There is an election expected this week. The Indian parliament will decide the new president of the country. The winner – expected to be announced on Wednesday – is expected to be veteran politician Draupadi Murmu as she has the backing of Prime Minister Narendra Modi’s Bharatiya Janata party. But maybe this will be another unexpected election story.

Back in the UK, and back to her usual diary of events for July, Nadhim Zahawi will address City dignitaries with the prime minister’s annual Mansion House speech. Zahawi has been prime minister for less than two weeks and may no longer hold his role once the new leader of his party is decided, but he is expected to make headlines by revealing a loosen City regulations to help companies raise money easier and faster in the Square Mile.

Speaking of which, the summer of discontent in Britain hangs in the air like the sweltering heat of the country. Lawyers, postal managers and brewery workers are all planning a walk this week.

Finally, there will be the return of an event that hasn’t happened “live” since the pandemic lockdown in 2020: the Farnborough Airshow. Unusually, for an international meeting of aerospace executives, the organizers decided to advertise the event back on the side of the bus. Hopefully, this does not mean that the aerial displays will instead be very British transport solutions, alternative bus services.

Economic data

Two factors i – inflation and interest rates – will return to the public eye, with attention focused on the meeting of the European Central Bank’s monetary policy committee.

The week will end with another installation of international comparators with purchasing manager metric data reports.

Companies

We are in the current earnings season with the rest of Great US banking package reports plus a wide range of technology, media, automotive and healthcare companies.

Also, on Monday, share in Haleon scheduled to begin trading on the London Stock Exchange, complete the classification of consumer healthcare companies from GSK, with parent company’s blessing. Haleon, whose brands will include Sensodyne toothpaste and pain relievers Advil and Panadol, is expected to seek a valuation of up to £45 billion.

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