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World Bank calls for debt relief programme as amounts owed hit record levels

Debt of 73 low-income countries at end of 2019 was up 9.5% on previous year

IMF and World Bank must act fast after Covid caught policymakers napping

Tide went out for global economy in 2020 and just about everybody was caught skinny-dipping

WTO to appoint first female boss as shortlist narrows to two

With UK’s Liam Fox eliminated the contest is now between Yoo Myung-hee and Ngozi Okonjo-Iweala

Further 150m people face extreme poverty by 2022, warns World Bank

Covid-19, climate crisis and war combine to reverse decades of progress on raising living standards

IMF chief says world economy faces long ascent from Covid crisis

Kristalina Georgieva warns against premature withdrawal of government measures

Creditors must wake up fast to threat of emerging market debt crisis

Zambia could become the first country to default on its debts amid the fallout from Covid-19, but it won’t be the last

World Bank announces $12bn plan for poor countries to buy Covid vaccines

Initiative aims to ensure low-income countries are not frozen out by rich nations

China’s industrial profits lift markets; Uber wins London licence; pound rallies – as it happened

Rolling coverage of the latest economic and financial news

Coronavirus pandemic has wiped out $3.5tn in work income, says ILO

UN body figures show people in Americas and lower to middle-income nations hardest hit

UN warns of lost decade without Covid economic recovery plan

Austerity policies will choke off recovery and risk a double-dip recession, says Unctad

Lack of Covid help for poor countries will haunt west, says UN aid chief

Sir Mark Lowcock fears impact will fuel grievances, conflict, instability and refugee flows

Liam Fox reaches last five in race to head WTO

Ex-UK international trade secretary and prominent Brexiter faces female frontrunners from Kenya and Nigeria

New Zealand in Covid recession after worst quarterly GDP fall on record

Finance minister says figures don’t reflect the thousands of lives saved and reduced burden on health system

Governments should avoid Covid spending cuts and tax rises, says OECD

In report on global economy, thinktank suggests extra borrowing is needed into 2021

Chinese investment in Australia plummets 47% in a year as diplomatic tensions rise

Researchers have found Chinese investment in Australia has fallen at a much faster rate than in other countries

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  • World held hostage by reliance on fossil fuels, Christiana Figueres warns – and climate health impacts are ‘mother of all injustices’
  • Oil and gas crisis from Iran war worse than 1973, ​1979 and 2022 together, says IEA
  • Universal Music, home to Taylor Swift and Drake, receives €55bn takeover offer
  • Oil back above $110 in volatile markets as Trump deadline looms for Iran to reopen strait – as it happened
  • BP shareholders advised to vote against chair over climate resolution exclusion
  • Hedge fund borrowing exposes emerging markets to greater Iran war risk, says IMF
  • Musk’s SpaceX courts retail investors as it aims for record-breaking stock market flotation
  • JP Morgan reaches agreement with City airport for Canary Wharf’s tallest tower
  • Iceland chain offers job to man sacked by Waitrose after confronting shoplifter
  • UK City firms report fastest turnaround in fortunes in 30 years
  • My mother has been overpaid her civil service pension and ordered to repay it
  • UK manufacturers ‘will pay £940m a year more in business rates due to Reeves changes’
  • Want to know capitalism’s endgame? Just look at private equity – it has captured our everyday lives
  • ‘Italy has the best benefits’: Milan takes on Dubai as home for the super-rich
  • Waitrose under pressure to reinstate worker sacked after stopping shoplifter
  • Jamie Dimon says US should strengthen allies economically, in veiled criticism of Trump
  • Private jets, deserted shores and an unbuilt resort: alleged links to sanctioned ‘scam’ empire revealed in Timor-Leste
  • Dozens of firms risk losing B Corp status after standards overhaul
  • Don’t believe Trump’s claims about making life more affordable
  • David Ellison says 70% of Americans are centrist. Surveys tell a different story
  • War in Iran is boosting profits for oil and defense companies as US gas prices soar
  • Thousands of small UK firms’ energy bills set to more than double due to Iran war
  • Track Australia’s fuel prices, service station outages and shipments in charts
  • Sick pay rule changes to benefit up to 9.6m UK workers, TUC says
  • Starmer attacks Greens, saying vote for Labour rivals puts new workers’ rights at risk
  • Iran strikes Kuwait’s oil infrastructure before Opec+ supply talks
  • Workers, pensioners and children: all better off. Ignore the critics – we really are standing up for working people
  • The Guardian view on Japan’s hidden century: cheap money, global risk
  • From microshifting to coffee badging: whatever happened to just doing your job?
  • Labour to back down on foie gras and fur bans to ease EU trade deal

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