On May 1, local time, a series of traffic accidents occurred on Interstate 55 in southern Illinois, USA. At least 40 to 60 vehicles collided, resulting in multiple deaths and dozens of injuries.

The annual rate of the BRC store price index in the UK in April was 8.8%, the previous value was 8.90%.

U.S. Senate Minority Leader Mitch McConnell said on the phone call with U.S. President Biden, "We had a good conversation this afternoon, and I believe we will communicate again."

McCarthy, Speaker of the US House of Representatives: There is currently a bill pending in the Senate, which, if passed, would eliminate the risk of Treasury defaulting.

Bank of New York Mellon CEO: This turbulent period in the banking industry is over, and we are still interested in cryptocurrencies.

ABC News: Virginia Beach officials declared a local state of emergency after an EF3 tornado with winds of up to 145 mph "affected communities north of the city."

RBNZ: Overall, household balance sheets remain resilient and most households with mortgages still have substantial equity reserves.

RBNZ: Households and businesses are under financial pressure.

Federal Reserve Bank of New Zealand: Debt service costs have risen significantly.

According to Nikkei News: Japanese Prime Minister Fumio Kishida will visit South Korea and hold a summit on May 7-8.

One soldier was killed and seven wounded in an Israeli attack on Aleppo, Syria, Syrian state media reported.

Market news: Morgan Stanley plans to cut 3,000 jobs amid weak trading.

White House: US President Joe Biden called US House Speaker McCarthy to invite him to a May 9 meeting with other congressional leaders at the White House.

McHenry, chairman of the US House of Representatives Financial Services Committee: worried that the FDIC is too hasty to think that a public sector solution (referring to the takeover of First Republic Bank) is the only viable option.

U.S. Senate Majority Leader Schumer, U.S. House of Representatives Democratic Leader Jeffries: A clean debt ceiling bill must be passed.

According to the Wall Street Journal: US President Biden has invited the four leaders of the US Congress to hold a meeting at the White House on May 9.

Warner, a Democrat: A possible June 1 debt-ceiling "X-Day" adds urgency to passing a "clean bill" to avoid a catastrophic default.

First Republic Bank will be removed from the S&P 500 index.

US Republican Senator BILL HAGERTY: The FDIC dealt with the failure of First Republic Bank better than the failure of Silicon Valley Bank.