Michael Bloomberg has been re-elected to serve a second term as Mayor of New York. The victory was widely predicted, and follows the most costly mayoral election in the city’s history.It is estimated that Bloomberg has spent more than 85 million euros money to defeat a challenge by Democrat Fernando Ferrer. Not such good news for the actor-turned-politician Arnold Schwarzennegger. Polls show that the once popular Governor of California is losing four crucial ballot polls, despite campaigning heavily. Schwarzenneger, who has seen his approval ratings drop in the past year, voted near his home in the Los Angeles neighbourhood of Brentwood, with his wife, Maria Shriver. The Democrats have swept to victory in tough governors’ elections in the states of Virginia and New Jersey, dealing a setback to Republicans and President George Bush ahead of crucial congressional elections next year.