White House scrambles to deny Trump trade adviser’s claim that China deal is ‘over’

Peter Navarro blames coronavirus for end of agreement, but is swiftly contradicted by Donald Trump, who says it is ‘fully intact’

Angela Merkel fears economic crisis is being underestimated in EU

Leaders clash over coronavirus recovery funds, with Germany pushing for swift resolution

Central banks have pumped money into the economy, but it’s no substitute for democracy

To build a fairer, greener society, mony must be made to serve the people, not the other way around, says academic Quinn Slobodian

Johnson handing the Foreign Office control of the aid budget signals a change of priorities

With FCO spending focused on middle-income trading partners, the world’s poorest countries may end up with less

BP expects to take $17.5bn hit due to coronavirus writedown

Oil company says it may be forced to leave some of its fossil fuel discoveries in the ground

The Guardian view on the global crisis: where is the rescue and recovery plan?

Editorial: The vacuum left by the G20 will leave the world’s poorest nations battered by Covid-19 and with a fraction of the wealth required to revive themselves

Stock markets fall heavily as another 1.5m Americans claim benefits amid Covid-19 crisis – as it happened

Live, rolling coverage of business, economics and financial markets as gloomy central bank forecasts make investors wary

Anger at huge shareholder payout as US chain Kohl’s cancels $150m in orders

Retailer paid $109m in dividends just weeks after cancelling clothing orders, leaving suppliers in Bangladesh and Korea facing financial crisis

Looming recession poses second global embarrassment for UK

First coronavirus, now the OECD says Britain will top the developing world’s recession league table. Here’s why

UK economy likely to suffer worst Covid-19 damage, says OECD

Forecast slump in GDP of 11.5% will exceed falls by France, Italy, Spain and Germany

World Bank warns Covid-19 pandemic risks dramatic rise in poverty

As many as 90% of the 183 economies are expected to suffer from falling levels of GDP in 2020

Angela Merkel has become the spend, spend, spend chancellor

With its €130bn stimulus package, Germany is showing others how to do the recovery

The Guardian view on Covid-19 and cults of strength: the weakest response

Editorial: Trump, Bolsonaro and Putin have taken a cynical political gamble with the lives of citizens

Dawn of Asian century puts pressure on EU to choose sides, says top diplomat

EU foreign affairs chief says end of US-led global system may have arrived and Europe needs robust strategy for China

Australia unnecessarily exposed itself to Beijing’s fury, but relying on the US now is risky

Australia has mishandled the inquiry into Covid-19, but it is in uncomfortable and unfamiliar territory