In Australia , opposition Labor Party conceded defeat in the federal election today, clearing the way for Prime Minister Malcolm Turnbull to retain power.

Although counting of votes in the marathon election continues, but the leader of Labor Party Bill Shorten, said the ruling coalition government would gain enough seats to hold on to power.

The coalition has won 74 seats in parliament. It is expected to win at least two of the five seats that will give Turnbull the support needed to form a majority government.

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