Bloomberg Denmark faces a budget deficit of 6.5% of gross domestic product this year under the most optimistic scenario provided by the Danish Economic Councils, an independent government adviser. Under that scenario, GDP would fall by 3.5% this year as the economy quickly returns to normal activity, the advisory, known as the Wise Men, said in a statement on Monday. ...

Bloomberg Germany’s economy will likely shrink this quarter at more than twice the pace recorded at the height of the financial crisis, according to the country’s leading research institutes. Output is predicted to slump 9.8% in April-June period, the most since records for quarterly data began in 1970. The economy is set to contract 4.2% over the course of this ...

Bloomberg UK pharmaceutical giant GlaxoSmithKline Plc is joining dozens of companies in the hunt for coronavirus therapies, signing a partnership with Vir Biotechnology Inc. and agreeing to invest $250 million in the US company. Glaxo and Vir will work together to find experimental antibodies to treat or prevent Covid-19, the illness caused by the coronavirus, the British drugmaker said. The ...