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Daily Briefing

More trouble for Britain’s Sunak as his scandal-hit deputy resigns, Chile plans to nationalize its vast lithium industry, and why the fiery SpaceX rocket disintegration could be a bonus for Musk.

Happy Friday – take a look back at the week in pictures.

By Linda Noakes

Today’s Top News

SpaceX’s next-generation Starship spacecraft explodes after its launch from the company’s Boca Chica launchpad on a brief uncrewed test flight near Brownsville, Texas, April 20. REUTERS/Joe Skipper

The spectacular explosion of SpaceX’s new Starship rocket minutes after it soared off its launch pad on a first flight test is the latest vivid illustration of a “successful failure” business formula that serves Elon Musk’s company well, experts said. Space reporter Joey Roulette explains what happened in today’s Reuters World News podcast.
British Deputy Prime Minister Dominic Raab resigned from the government following an independent investigation into complaints that he bullied colleagues, the latest scandal to force out one of Prime Minister Rishi Sunak’s top ministers. Here’s why Raab quit.
Gunfire ripped through several neighborhoods of Sudan’s capital Khartoum on the first day of the Muslim holiday of Eid al-Fitr, after the army deployed on foot for the first time in its almost week-long fight with a paramilitary force.
With virtually all the Kremlin’s opponents already jailed or in exile, and liberal press outlets and human rights groups forced to shut down, it might have appeared that years of repression in Russia had achieved their objective. But Russia is now crossing new lines in a crackdown on President Vladimir Putin’s enemies.
Germany has appointed an eight-person commission to re-appraise the attack on Israeli athletes and team members at the 1972 Munich Olympics to answer unresolved questions.
Canadian police are investigating the theft of a C$20 million cargo of gold and other valuables that was stolen from a holding facility at Toronto Pearson International Airport.

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Business & Markets

Chile’s President Gabriel Boric said he would nationalize the country’s lithium industry, the world’s second largest producer of the metal essential in electric vehicle batteries, to boost its economy and protect its environment. We look at the latest move in a global resource nationalism trend.
The euro zone economic recovery has unexpectedly gathered pace this month as the bloc’s dominant services industry saw already-buoyant demand rise, more than offsetting a deepening downturn in manufacturing, surveys showed.
Tesla raised the US prices for its Model S and X premium electric vehicles, although they are still 20% lower than the start of the year after a slew of price cuts to drum up demand.
Investors representing more than $5 billion of Credit Suisse bonds have sued the Swiss regulator over its decision to wipe out their investments during last month’s emergency government-orchestrated takeover.
US wireless carrier AT&T missed market estimates for first-quarter revenue and free cash flow, underscoring the toll from strained consumer wallets and sparking a selloff in the telecoms sector.
Tech entrepreneur Mike Lynch lost a bid to block his extradition to the United States to face criminal charges over Hewlett Packard’s $11 billion acquisition of his software company Autonomy after London’s High Court rejected his appeal.

The Week Ahead

Investors are gearing up for a busy week ahead, when the bulk of the S&P 500 components report earnings, the dollar could see if it’s regained any forex-appeal and the Bank of Japan’s new governor chairs his first policy meeting.
Three of the four biggest US companies by market value – Microsoft, Google parent Alphabet and Amazon – are scheduled to post earnings.
In US politics, President Joe Biden may announce his re-election campaign by video. Jurors are expected to decide whether former president Donald Trump lied about committing rape. And Florida Governor Ron DeSantis is set to begin a trip abroad.

Photos Of The Week

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Protests, celebrations and a solar eclipse – take a look at the top images from Reuters photographers this week.

And Finally…

Twitter began removing legacy blue checkmarks from user profiles, with famous people including pop icon Beyonce and Pope Francis losing their verified statuses.

Some personalities such as basketball star LeBron James and author Stephen King still had their checkmarks.

King, who has previously called Musk a terrible fit for Twitter, tweeted: “My Twitter account says I’ve subscribed to Twitter Blue. I haven’t. My Twitter account says I’ve given a phone number. I haven’t.”

Read more on those losing their Twitter badges

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