//Markets edgy as Covid-19 restrictions tighten – business live

Markets edgy as Covid-19 restrictions tighten – business live

Rolling coverage of the latest economic and financial news, as fears of further lockdowns hit travel and hotel companies

IEA: Second-wave will hit oil demandProfits quadruple at ASOSIntroduction: Covid-19 fears build as cases rise and medical trials pausedAirline and hotel stocks hit

10.41am BST

The recovery in Europe’s factory sector slowed dramatically in August.

Statistics body Eurostat reports that industrial production across the eurozone rose by 0.7% in August compared with July.

In the euro area in August 2020, compared with July 2020, production of durable consumer goods rose by 6.8%, intermediate goods by 3.1% and energy by 2.3%, while production of both capital goods and non-durable consumer goods fell by 1.6%.

Euro area #IndustrialProduction +0.7% in August over July, -7.2% over August 2019 https://t.co/h5rSwOrZJ9 pic.twitter.com/sNzQDSDAAQ

10.18am BST

Sky News are reporting that a partial rescue deal for UK restaurant chain Gourmet Burger Kitchen (GBK) is close.

Boparan Restaurants is understood to have seen off competition from the new owners of GBK’s rival burger chain, Byron, to clinch a deal.

The transaction will be the latest in a swathe of deals which have reshaped Britain’s casual dining industry since the start of the coronavirus crisis.

Exclusive: The tycoon who has built one of the UK’s biggest restaurant empires is about to add the Gourmet Burger Kitchen chain to his portfolio; I understand that Ranjit Boparan will buy GBK through a pre-pack administration, saving 35 sites and 650 jobs. https://t.co/gbkZ4Xm7rI

Related: More than 1,000 Carluccio jobs lost as ‘chicken king’ billionaire buys chain

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Read more: theguardian.com