Johnson set to be next UK PM

Boris Johnson will likely be named Britain’s next prime minister this morning, after the Conservative party’s poll ended on Monday. He is expected to formally take power and name cabinet members on Wednesday. Johnson, a former foreign minister and London mayor, has said the UK needs to leave the EU “do or die, come what may” by Halloween, even if that means a no-deal Brexit. The other final candidate for PM was Jeremy Hunt, the current foreign minister. Sources: BBC, CNBC, Marketwatch and Reuters.

Swinson to lead Lib Dems

The UK’s Liberal Democrats selected Jo Swinson, a 39 year old Scottish MP and former junior cabinet minister, as their new party leader. The pro-EU Lib Dems have been rising in opinion polls in recent months. Sources: BBC, Financial Times, Guardian and New York Times.

UK floats Gulf mission to counter Iran

Jeremy Hunt, the UK’s outgoing foreign minister, proposed a European maritime protection force to protect commercial shipping in the Persian Gulf. Iran seized a British tanker last week. Sources: Deutsche Welle, Financial Times and Guardian.

Russian & Chinese planes enter South Korean airspace

South Korea’s defence ministry said its fighter jets fired warning shots at Russian military aircraft which had entered its airspace. Sources: AP, Guardian, Reuters and Sky News.

Ronaldo rape accusations dropped

Prosecutors said that football star Cristiano Ronaldo will not face charges, citing lack of evidence, for an alleged rape in Las Vegas in 2009. Ronaldo had said the sex was consensual. Sources: AFP, BBC and Guardian.

Equifax agrees to record hacking fine

The credit reporting agency Equifax will pay roughly $700m to settle claims over a 2017 data breach that compromised the unencrypted personal details of 147m people in the US. Sources: BBC, Financial Times and Reuters.

Julius Baer 1H profits down, but client money up

The Swiss private bank Julius Baer said first-half profits (and personnel costs) fell, while assets under management rose. Sources: Financial Times, Investment Europe and Marketwatch.

BA pilots support strike

Pilots at British Airways have voted in favour of potential industrial action this summer over their pay dispute with the carrier. Sources: BBC, Guardian and Independent.

Later today

11am: Deadline to enter drawing for Congés Annulés tickets. 2pm: Digital Luxembourg hosts an information session on its 5G call for projects.

Looking ahead

Wednesday 24 July: Deutsche Bank and Northern Trust report earnings. Thursday 25 July: Invesco and Amazon report earnings.

Indian lunar mission lifts off

India successfully launched its unmanned Chandrayaan-2 mission, which will explore the moon’s south pole. Sources: CNN, Nature.com and Vox.

Today’s breakfast briefing was written by Aaron Grunwald