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Social Dems win Germany election, Huawei CFO returns to China, Myanmar government launches airstrike

Yahoo Finance's Akiko Fujita breaks down today's top stories from around the world.

Video Transcript

- In our worldview today, Germany faces weeks of uncertainty now after national elections failed to yield an outright majority for any party. The social Democrats eked out a narrow win with roughly a quarter of the vote while Chancellor Angela Merkel's Christian Democratic Party saw the worst electoral results in its history. The emerging Green Party was the third top vote getter. The results mean Merkel will remain in power for a little longer while major parties negotiate a coalition government to establish the next government. Merkel stepping down after 16 years as Germany's leader.

The Chinese government is looking to capitalize on the return of Huawei CFO Meng Wanzhou calling her arrest in Canada quote, "A political frame-up and persecution." The foreign ministry made those comments following Meng's homecoming over the weekend. She was arrested at Vancouver airport in 2018 on allegations she misled HSBC about Huawei's business involvement in Iran.

Her detention prompted the Chinese government to retaliate days later arresting two Canadian citizens in China. Meng admitted to some of those claims on Friday in exchange for prosecutors dropping wire and bank fraud charges. The foreign ministry said news of Meng's safe return garnered 400 million likes on at least one platform and added that Meng would not have her freedom today without in the words of the foreign ministry the strength of the motherland.

And Myanmar's military government is stepping up violence in its ongoing fight with opposition groups launching airstrikes in the northwestern part of the country. Officials with the opposition National Unity government say 25 government soldiers were killed in the attack.

Reuters reports phone lines and internet connections were also cut shortly after residents heard explosions in the area. The shadow administration made up of ousted lawmakers have stepped up their offensive this month calling on opposition fighters to target the junta and their assets. Myanmar has been embroiled in violent conflicts since the military came to power in a coup nearly eight months ago.