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Business briefing · Monday, October 26, 2026 · Morning edition · Story 2 of 5
Lula wins Brazilian presidential election, Bolsonaro refuses to concede
Lula won Brazil's presidential election with a lead of nearly 4.4 million votes over Bolsonaro. Bolsonaro reportedly refuses to concede and is asking for the results to be annulled.
Why it matters: This is the first time since 1989 that a candidate has won the final runoff after losing in the first round, marking a significant shift in Brazilian politics.
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