EU leaders close in on recovery fund deal, Testing crunch warning, US economic rebound halted

Summary: EU leaders are closing in on a deal for a landmark coronavirus recovery package, the largest laboratory company in the US, Quest Diagnostics, has warned it will be impossible to increase coronavirus testing capacity in the event of a second wave in the autumn, and European banks are facing as much as €800bn in loan losses over the next three years as a result of the coronavirus crisis. Plus, the FT’s James Politi will explain why the US economic recovery from coronavirus was so short-lived and whether it will gather pace again.   <br><hr><p style="color: grey;">See <a style="color: grey;" target="_blank" rel="noopener noreferrer" href="https://acast.com/privacy">acast.com/privacy</a> for privacy and opt-out information.</p>