September 4, 2020 - Biz in 60

German industrial orders rise 2.8% in July German factory orders rose by 2-point-8 percent from the previous month in July, failing to meet analysts' expectations. The weak data suggests the recovery of the manufacturing sector in the Europe's largest economy is losing momentum. Despite the improvement, factory orders were still 8-point-2-percent lower than in February, the last month before the pandemic struck. Bain Capital becomes new owner of Virgin Australia US private equity firm, Bain Capital, has become the new owner of Virgin Australia after creditors agreed to its 2-point-6 billion dollar offer. Australia's second- largest airline fell into administration in April, after canceling all of its flights following widespread travel bans. Under Bain's overhaul plans, Virgin is set to cut around a-third of its workforce to reduce costs. Pret A Manger to open suburban shops to win back customers British sandwich and coffee chain Pret A Manger will deliver dinners to city-dwellers and open more suburban branches in a bid to survive the pandemic. In-store sales have been hammered as people work from home during the outbreak. Pret will also launch a subscription service for drinks at a cost of around 26-dollars a month.