European business newsround up for May 3rd

Welcome to our daily roundup of European business news for May 3rd. Here are the top stories that shaped the business landscape today:

1. European markets rise on positive economic data: European markets rallied today, with the Stoxx Europe 600 index rising 0.8%, boosted by positive economic data from the Eurozone. The Purchasing Managers' Index (PMI) for the Eurozone rose to a 10-month high in April, indicating a strong recovery in the region's manufacturing and services sectors.
2. Barclays reports Q1 profits: Barclays reported a profit before tax of ￡2.4 billion ($3.3 billion) for the first quarter of 2021, beating analysts' expectations. The bank credited the strong performance to a rebound in its trading and investment banking businesses.
3. EU to propose new regulations on AI: The European Commission is set to propose new regulations on artificial intelligence (AI) this week, aimed at ensuring the technology is used in a safe and ethical way. The regulations will cover areas such as facial recognition and biometric surveillance.
4. UK manufacturing activity rises in April: UK manufacturing activity grew at its fastest pace in nearly 30 years in April, according to the IHS Markit/CIPS Manufacturing Purchasing Managers' Index. The figure was boosted by a surge in new orders and increased production levels.
5. Tesla faces backlash over autopilot system: Tesla is facing criticism over its autopilot system after a fatal crash involving one of its vehicles in the UK. The incident has sparked renewed calls for stricter regulations on autonomous driving technology.

That's all for today's roundup of European business news. Stay tuned for tomorrow's newsletter, where we'll bring you the latest news and analysis from across the continent.