U.K. PM concedes defeat as Labour Party set for landslide election win

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U.K. Prime Minister Rishi Sunak conceded defeat to the center-left Labour Party early Friday, which was projected to win by a landslide in the country’s general election — delivering a huge blow to the ruling Conservative Party after 14 years in power.The big picture: Incumbents are on a losing streak all over the world — particularly in Europe, where inflation has fueled voter discontent. In Britain, however, the Conservatives’ looming defeat is largely of their own making.By the numbers: The British networks’ exit poll indicated Labour won 410 seats in Parliament, a majority of…

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