07-07-2016 08:08 via news.yahoo.com

Australian PM wins key support, edges closer to forming government

By Jonathan Barrett SYDNEY (Reuters) - Embattled Australian Prime Minister Malcolm Turnbull appeared likely to retain power after gaining the support of a key independent on Thursday, although the closeness of the vote signaled more tough political and economic times ahead. There were signs that the political instability after Saturday's cliffhanger election was beginning to take its toll on the Australian economy, with Standard and Poor's cutting Australia's credit rating outlook to negative fr
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