Investors look to economic data and U.S. virus surge

European markets are expected to open lower Tuesday as concerns over the threat to economic recovery of new coronavirus cases in the U.S. and weak German data put the brakes on Monday’s rally.

Britain’s FTSE 100 is seen around 41 points lower at 6,145, Germany’s DAX is set to slide by around 66 points to 12,667 and France’s CAC 40 is expected to open down by around 42 points at 5,040, according to IG data.

European stocks look set to follow the mixed tone set in Asia Pacific overnight, where markets in South Korea and Japan retreated, while mainland Chinese shares continued Monday’s blockbuster rally.

German industrial production data came in weaker than expected on Tuesday morning, rising by 7.8% in May, a more modest rebound than the 10% expected by analysts polled by Reuters following a -17.5% contraction in April.

The Greater Miami area on Monday became the latest

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Virus has shone a light on UK’s dark factories

Coronavirus has shone a light on the areas and people that many societies would rather ignore. For some countries that has been migrant workers — a Singaporean outbreak was traced back to dormitories — while in parts of Latin America it has been slum dwellers, unable to take any breaks from working in the informal economy. In Britain, meanwhile, concerns are rife that poor working conditions at clothing factories supplying “fast fashion” retailers helped spread the virus in Leicester, a city in England’s Midlands.

While much of England was “unlocked” at the weekend and Britons returned to reopened pubs, hairdressers and restaurants, Leicester remained eerily quiet. Residents had been told to remain indoors and limit their travel. Last week, the city became the first location for a “local lockdown” as a rising caseload prompted the national government to reintroduce stricter policies designed to quash the rate at which it was

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Coronavirus: Hairdressers and pub landlords ‘still scared’ of virus despite reopening | UK News

Thousands of businesses across England can reopen today in the most significant easing of lockdown rules so far.

Pubs, restaurants, cinemas and hairdressers are among the places set to welcome back customers for the first time since the end of March.

But one business owner told Sky News that although he needed to get back to work to pay his rent, he feels “a little bit scared” to do so.

“I have the sanitiser, I’m wearing gloves but still I have to touch people’s faces and I’m very close to them,” Ed Rahimi, a barber in Greater Manchester said.

“I’m a little bit scared. Coronavirus doesn’t care who you are and I think we’re going to be back in lockdown within the next few weeks,” he added.

Pubs will be able to open indoor tables to customers but with significant new social distancing restrictions in place.

The New Inn

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UK to tighten takeover rules for groups vital to virus response

The UK government will immediately tighten takeover laws to ensure British businesses critical to tackling the coronavirus pandemic are less susceptible to hostile foreign takeovers owing to the economic downturn.

On Monday, business secretary Alok Sharma will amend legislation to allow the Department for Business, Energy and Industrial Strategy to intervene if companies — such as protective equipment manufacturers and those in the food supply chain — are deemed critical to the UK’s pandemic response but are struggling financially and facing a takeover by foreign powers.

Boris Johnson’s government has pledged to introduce tougher powers to intervene when businesses face being taken over by companies based in countries that are deemed unfriendly to the national interest. There is a particular concern among Tory MPs about the role of China, which has aggressively pursued businesses seen to be crucial to the UK’s strategic interests.

The new measures, to be voted on

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