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Labour Party Rebels Back Single Candidate to Oust Leader Corbyn

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The race for control of Britain’s Labour Party narrowed on Tuesday as lawmaker Angela Eagle withdrew, leaving incumbent Jeremy Corbyn up against a challenger promising a second Brexit referendum.

Labour’s left wing and its more moderate factions have been locked in a power struggle ever since Britain voted to leave the European Union on June 23, with critics saying Corbyn had not worked hard enough to prevent the Leave camp’s victory.

Eagle, formerly the party’s top business spokesperson, withdrew from the leadership contest after private tallies showed she had received less support than rival Owen Smith at the halfway stage in the nominating process.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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