Billionaire Pinera to return as Chile’s president

Billionaire Sebastian Pinera will return to power as Chile’s president next year. His leftist rival Alejandro Guillier, a 64-year-old TV presenter turned senator who ran as an independent backed by outgoing center-left President Michelle Bachelet, conceded after receiving 45 percent. Pinera will once again take over from Bachelet, who was barred by the constitution from running for re-election.