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Bloomberg is out with the latest headlines, citing that Spain’s Prime Minister (PM) Mariano Rajoy accepts defeat in the no-confidence motion vote that is set to take place at 0900 GMT.

Rajoy said that Pedro Sanchez set to the new Spanish PM while adding that it has been an honor to be the Spanish Prime Minister.

Spain’s MPs are due to vote on a motion of no confidence against Prime Minister Mariano Rajoy, following a huge corruption scandal involving the governing party.