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Good morning from the Financial Times.

Today is Tuesday, July 19th, and this is your FT News Briefing.

Trouble in Westminster is jeopardizing plans for a big tech listing in London,

and whoever replaces UK Prime Minister Boris Johnson has a heavy economic lift.

Our Chief Economics commentator, Mark Wolfe, joins us today to talk about the challenges.

Plus a high cost, high stakes, and high yield legal battle has ended.

We'll tell you who won. I'm Mark Philippineau, and here's the news you need to start your day.

Japanese tech investor Softbank has paused its plan to list its British chip design firm

arm on the London Stock Exchange. British officials, including Prime Minister Boris Johnson,

had lobbied for the listing, but the current turmoil in British politics has put a damper on things.

Here's the FT's anagross. For a while there, it was looking like

Massimo Shisan, who's Softbank's chairman in CEO, was looking more favourably at a dual listing

for the company, so in New York and London. But now, as you know, the UK government is in chaos.

Johnson has said he will resign, and two of the key officials that have been really instrumental

in talks with Softbank have also resigned their posts. And so people who are close to arm

and Softbank are saying that they're pausing discussions while they wait for a new government

to come in, and they wait for the dust to settle to pick up those negotiations again.

Now, how big a deal would this listing be for the UK?

And how big of a deal would it be if Softbank decides not to list arm on the London Stock Exchange?

Well, I don't want to overplay how big a deal it would be. I mean, a lot of bankers that I speak to

...