Cardinals set May 7th as the starting date for the Conclave to elect Pope Francis's successor, with Cardinal Parolin presiding. Cardinal Becciu reportedly contemplated withdrawing from participation to avoid controversy. Meanwhile, over 70,000 faithful visited Francis's tomb at Santa Maria Maggiore.
An unprecedented electrical blackout struck Spain and Portugal, paralyzing transportation systems, telecommunications, and forcing hospitals onto emergency generators. Spanish Prime Minister Sanchez declared a state of emergency as authorities investigated causes ranging from cyberattacks to atmospheric phenomena.
On financial markets, Mediobanca launched a €6.3 billion takeover bid for Banca Generali, described as a strategic counter to Monte dei Paschi di Siena's ambitions.
In international news, Trump urged Putin to stop firing and negotiate with Ukraine, suggesting Zelensky might be willing to cede Crimea. Putin later announced a limited May 8-10 truce, which Zelensky dismissed as manipulation.