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Customers and former staff praise First Republic’s service as it is taken over by JP Morgan Chase. First Republic had been under pressure since last month, when the collapse of two other US lenders sparked fears about the state of the banking system. Authorities said they hoped the deal would resolve the panic. The failure of San Francisco-based First Republic is the second-largest in US history and the third in the country since March.

Hollywood writers and television producer approach a deadline to sign a new contract - or take strike action…the first such action in 15 years.

Meanwhile, in France the traditional May Day protests have been given extra momentum due to anger over the pension reforms that have been rammed through parliament by President Emmanuel Macron. Hundreds of thousands of people have taken to the streets in France and violent clashes erupted in some cities; the authorities say more than one hundred police were injured and nearly three hundred people were detained .