Receive Breaking News updates as they occur
By Jonathan Thatcher and Kanupriya Kapoor JAKARTA (Reuters) - Joko "Jokowi" Widodo was declared the winner of Indonesia's presidential election on Tuesday, bringing the promise of major reforms to the world's third largest democracy. The Elections Commission, known as KPU, said the Jakarta governor had won by just over six percentage points, with 53.15 percent of the nearly 130 million votes cast on July 9. It was the closest and most bitterly fought election in Indonesia's history, pitting Jokowi against former general Prabowo Subianto, whose promise of strong leadership brought echoes of decades under autocratic rule. "This victory is a victory for all the people of Indonesia," the president-elect told hundreds of supporters gathered at a port on the outskirts of the capital Jakarta, chosen to emphasize his commitment to Indonesia's maritime potential.
By Bill Rigby SEATTLE (Reuters) - Microsoft Corp said it aims to get its loss-making Nokia phone unit to break even within two years, helping its stock rise in after-hours trade. Microsoft's chief financial officer said in a call with analysts that the company plans to take $1 billion in costs out of the Nokia operation and stop its losses by fiscal 2016 - which ends in June 2016 - following massive job cuts announced last week. "The expense guidance around Nokia was much better than feared," said Daniel Ives, an analyst at FBR Capital Markets. "While there is still some heavy lifting ahead, it appears brighter days are on the horizon for Microsoft after a decade of pain and frustration." Microsoft shares hit new 14-year highs over the past week, and were up 1.1 percent at $45.33 after hours.
ATLANTA (AP) — Businessman David Perdue has defeated longtime Rep. Jack Kingston in the Republican runoff for Georgia's U.S. Senate nomination, setting up a matchup against Democratic nominee Michelle Nunn that will help determine which party controls the Senate for the final years of the Obama administration.