Germany's economy contracted in the first quarter at its sharpest rate since 2009 with worse expected by mid-year, as coronavirus lockdowns ravage business activity. But Europe's largest economy is weathering the fallout from the pandemic better than other EU states where outbreaks have been more disruptive.

The depth and breadth of the damage inflicted on the United States economy by coronavirus lockdown measures came into sharp, painful focus on Friday with government figures showing a record 20.5 million Americans lost their jobs in April. 

Electric car firm Tesla has been ordered to keep its main plant in the US closed, as California grapples with a coronavirus outbreak.

A new report published by the Institute for Policy Studies IPS showed that the wealth of American billionaires, such as: Amazon founder (Jeff Bezos), and Tesla's president (Elon Musk), rose by almost 10% during the emerging coronary virus (Covid-19) pandemic (COVID-19).

Virgin Australia has confirmed it has entered voluntary administration - making it Australia's first big corporate casualty of the coronavirus pandemic.