It was a bitter contest but in the end, the favorite came out on top. Liz Truss has been elected leader of Britain's Conservative Party and will become the next UK prime minister.

The announcement follows two months of intense campaigning sparked by the resignation of Prime Minister Boris Johnson. Truss, who is currently the UK's foreign minister, defeated her rival Rishi Sunak. She'll follow Margaret Thatcher and Theresa May to become Britain’s third female premier.

Truss called on her party to rally around her to fight the many crises plagueing the country...

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