Live news updates: A very British election begins

In this year of significant elections, the UK has the most significant elections this week, but one that is only open to a few hundred MPs from Westminster’s back seat. This is the vote to refresh the Conservative Party’s parliamentary body, the 1922 Committee.

The first task of the new group of 18 Tory MPs from the back bench after the referendum on Monday will be to agree on the rules for electing the new leader of their party (i.e. the UK Prime Minister). It is expected to be Completed by September. A clutch of MPs already Throw their hat into the ringBut these can be reduced to a short list of two within a few days, according to the FT parliamentary staff.

The timetable for deciding on the new prime minister is important and severe, with UK inflation the highest in the G7 and the country’s growth next year (if it grows at all) expected to be slowest, According to the International Monetary Fund. There is a critical need in Someone talented To guide the country in the interim period before the public again decides on its government through general elections.

Also, the summer of British dissatisfaction is rolling. If anything, it is gaining momentum. Criminal lawyers will go out again on Monday, for the reasons detailed in this article From a legal associate. Additional train troubles are on the table with Asalf, which represents train drivers, and TSSA, which represents more than 6,000 Network Rail workers. Voting for a strike. And on Friday, a vote on industrial action for members of the University and College Association closes in a separate dispute over low wages, unmanageable workloads and professional respect. This can lead to Another disorder To students at UK universities and colleges after this long and hot summer of unrest ends.

Economic Data

This is a busy week for announcing significant economic data, including inflation data for the US, UK, France and Germany – perhaps giving an indication if rising cost of living is nearing its peak – plus GDP data from China and the UK.

The Federal Reserve publishes its latest beige book on the current state of the US economy and the interest rates committees of the central banks of New Zealand and South Korea may raise interest rates by 50 basis points respectively. Croatia is also accepted as the last member of the Eurozone group.


U.S. banks will begin the U.S. earnings season this week, with excessive results forecast thanks to the Fed’s run of interest rate hikes. Analysts expect JPMorgan Chase, Bank of America and Citigroup See the growth in net interest income, the difference between what banks pay depositors and what they earn from loans and other assets.

The big fear is recession. Banks are usually the stocks hardest hit during a downturn. When trouble appears on the horizon, the pressure increases to increase capital balances in case existing loans go awry.

Read the full weekly diary Here

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