Israel's Netanyahu gives up on forming new coalition

Prime Minister Benjamin Netanyahu announced Monday that he had failed to form a majority government in parliament, marking a major setback for the embattled Israeli leader that plunges the country into a new period of political uncertainty.In a statement, Netanyahu said he had worked "tirelessly" to establish a unity government with his chief rival, former military chief Benny Gantz, but been repeatedly rebuffed.Facing a Wednesday deadline, Netanyahu said he was returning the "mandate" to Presid