Chain expanding into UK travel hubs

Pret A Manger has launched its first drive-thru restaurant.

The outlet opened in Warrington, just off junction 21 of the M6 on Tuesday in partnership with Motor Fuel Group.

It marks a trial format for the brand as it extends its footprint across transport and travel hubs throughout the UK.

Out of Pret’s 500 UK locations, it currently runs 220 in airports, railway stations and motorway service stations across the country, 35 of which are managed by Motor Fuel Group.

The drive-thru features a single vehicle lane and indoor seating for up to 48 guests, alongside EV charging facilities and customer lavatories.

Diners can choose from Pret’s complete breakfast and lunch menu, with popular snacks also on hand alongside coffee and other hot and cold beverages, including smoothies.

Pret’s president for the UK and Ireland Ross Warnes said: “Travel hubs and roadside locations present a huge growth opportunity for Pret, making the launch of our first drive-thru a natural next step in our expansion.”

Jack Tindall, head of food service operations at Motor Fuel Group, said: “As Pret’s largest UK franchise partner, opening Pret’s first ever drive-thru is a major milestone for our partnership.

“We’re incredibly proud to be part launching this new format for Pret and look forward to serving the Warrington community.”

Gary Shilling, the legendary forecaster known for his bearish accuracy and being fired from Merrill Lynch for predicting the 1969-70 recession, is sounding the alarm on a 2026 economic collapse.

In a recent interview with Business Insider, Shilling warned that a U.S. recession is “almost inevitable” by year-end, driven by a “frozen” housing market, corporate investment indicators and a weakening consumer base.

“Stocks are very expensive and there probably is a major correction coming somewhere in the relatively near future,” Shilling said. “A decline of 20% or 30% is no big deal by historical standards. So I would say that’s probably in the cards.”

MARKET EXPERT SAYS POTENTIAL FED RATE CUTS COULD SPARK ‘ONE OF THE BIGGEST EXPLOSIONS’ IN U.S. ECONOMY

“I’ve sort of made a career looking for those hidden flaws, and I don’t see anything right now that is just screaming for a big sell-off, but that doesn’t mean it isn’t there,” he added.

Traders work on the floor of the New York Stock Exchange during morning trading on May 1, 2026, in New York City. (Getty Images)

Across American real estate, buyers and sellers have been reluctant to make moves as interest rates remain elevated, and mortgage loan rates slowly tick down. There is also a lack of affordable inventory and reports of rising foreclosures, signaling homeowners continue to get squeezed.

Shilling also pointed to what he described as a “collapse” in capital expenditures, or large investments that companies expect will last for years and boost overall future value. Business Insider cited that broader capital expenditures grew just 3.9% by the end of 2025, compared with a pandemic peak of 24% capex growth.

The economist spotlighted the state of the U.S. consumer as the third pillar leading to a recession, with the Federal Reserve’s preferred inflation gauge remaining stubbornly high in March, rising 0.7% month-over-month and up 3.5% from a year ago.

When it comes to economic solutions, Shilling said a downturn could be prevented by fiscal stimulus or a strengthening consumer — “both of which he thinks are unlikely.”

“That’s really on very thin ice in terms of income, in terms of people’s willingness to spend,” Shilling said.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Other economists appear divided on the economic outlook for 2026. BNY Wealth Head of Investment Strategy and Equities Alicia Levine said no recession is coming on “Making Money with Charles Payne” last month; around the same time, billionaire investor Leon Cooperman told FOX Business’ Liz Claman that the U.S. is heading toward a recession.

“My own view is, there’s a lot of problems out there. The market’s too highly valued,” Cooperman said.

“It just feels that the market was already weakening going into the Iran conflict,” Levine countered. “Earnings have moved higher since the beginning of the year, 3% higher… that’s what we’re looking at, and we don’t see a recession this year.”

READ MORE FROM FOX BUSINESS

The budget carrier is preparing to add another aircraft to its fleet at the South West airport

Budget carrier easyJet has launched a new flight route from Bristol Airport to Spain. The airline’s new Seville service took off over the weekend and is now operating twice a week – on Tuesdays and Saturdays – to Andalusia’s capital.

The news comes as easyJet prepares to add its 20th aircraft to its fleet at Bristol, and launch new routes to Reus, in Spain, and Thessaloniki, in Greece, this summer.

Kevin Doyle, easyJet’s UK Country Manager, said: “We are delighted to celebrate the launch of our new service from Bristol to Seville, further expanding the range of routes and destinations available for our customers in the South West at fantastic fares.

“Our continued success in Bristol is a clear testament to the popularity of our flights and holidays and the growth of our fleet with an additional aircraft this summer will further unlock the opportunity of the demand that we see for both leisure and business travel.”

Rupert Lawrie, commercial director at Bristol Airport, added: “We are thrilled to welcome easyJet’s new route to Seville. This Spanish city is an incredible place, renowned for its rich history, vibrant culture and world-famous architecture. Not only is it a great base to explore all the leisure opportunities that southern Spain has to offer, but it opens up even more links for European visitors to the South West.

“It also plays an important role in connecting regional businesses with key international markets, including global leaders such as Airbus. We’re proud to continue working with easyJet expanding travel opportunities for all of our customers and making it easier to explore and connect.”

In April, easyJet Holidays chief executive Garry Wilson told its customers they could be “confident” bookings with the company would “go ahead as planned” without extra surcharges amid rising fuel costs caused by the Middle East conflict.

“We know that holidaymakers may have questions about what recent global events might mean for their travel plans this summer, so we are giving our customers absolute peace of mind that no surcharges will be added to their flights or package holidays,” he said at the time.

Last month, easyJet warned the impact of the Iran war would likely hit its profits. The company expects an increased pre-tax loss of £540-£560m for the six months to March.

But the airline typically generates more revenue in the second half of the year, which includes the busy summer season.

Revenue from operations rose 29% YoY to Rs 12,797 crore, compared with Rs 9,939 crore in the same period last year. Profit after tax increased 30% year-on-year to Rs 1,401 crore, up from Rs 1,081 crore. EBITDA came in at Rs 1,856 crore for the quarter, registering a 31.1% rise from Rs 1,416 crore a year earlier.

The company sold 17.14 lakh motorcycles and scooters during the quarter, marking a 24% increase over the year-ago period, driven by demand across entry-level, premium and scooter categories. The board also recommended a final dividend of Rs 75 per equity share of face value Rs 2 each, subject to shareholder approval.

Should you buy Hero MotoCorp shares?

Goldman Sachs has maintained a Sell rating on Hero MotoCorp, with a target price of Rs 4,300, a downside of 16% from the current levels. The brokerage said the company’s Q4 performance was broadly in line with estimates, with average selling prices improving sequentially on the back of a richer product mix and price hikes. It highlighted commodity inflation and supply chain stability as key factors to watch, along with the company’s market share outlook for FY27 and export trends.

Live Events

Hero Moto management commentary

Hero MotoCorp said it has retained its position as the world’s largest manufacturer of motorcycles and scooters for the 25th consecutive year, reinforcing its leadership in the segment.
It also expanded its product portfolio with a series of new launches and updates, including the HF Deluxe Pro, Glamour X, Destini 125, Destini 110, Xoom 160, Xtreme 125R and Xpulse 210. Market share gains were driven by the entry-level segment, led by the HF Deluxe Pro, along with feature upgrades in models such as the Passion+ and the Splendor+ with XTEC 2.0 enhancements.Also read: Will Meesho’s 60% comeback rally cool or will Q4 serve as a new launchpad?

In the premium segment, the Harley-Davidson portfolio saw expansion with the launch of the H-D X440T, the return of the Street Bob, and the introduction of the new Road Glide and Street Glide models.

VIDA, the company’s electric mobility business, recorded its highest-ever annual retail performance, registering 190% growth over the previous year.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

A Texas candy company with roots dating back more than a century is winding down most of its operations as rising costs and shrinking margins pressure the long-running family business.

Lammes Candies, an Austin-based confectioner founded in the 1800s, said it will begin an “orderly wind-down of operations” after 141 years of continuous family ownership, according to a statement posted to the company’s Facebook page.

“This was not an easy decision,” the company said. “Lammes Candies has been more than a business – it has been a family legacy spanning generations.”

In an interview with FOX 7 Austin, company vice president Lana Schmidt pointed to mounting economic pressures that have made it increasingly difficult to sustain the business.

CALIFORNIANS FLEE HIGH COSTS – AND MANY COME OUT AHEAD FINANCIALLY, STUDY FINDS

Customers wait in line to buy candy at Lammes Candies on Airport Boulevard in Austin on April 27, 2026, following the company’s announcement that it is winding down operations after 141 years in business. (Jay Janner/The Austin American-Statesman via Getty Images)

“The economy, you know, with the raw materials going up, labor is going – it’s just everything is escalating,” Schmidt said. “There’s not a huge margin in confections.”

The company said it will fulfill remaining orders and continue selling products online while inventory lasts, with its flagship Airport Boulevard location remaining open temporarily.

David and Brenda Joseph buy candy at Lammes Candies on Airport Boulevard in Austin on Monday, April 27, 2026, as customers fill the store following the company’s announcement that it is winding down operations after 141 years in business.  (Jay Janner/The Austin American-Statesman via Getty Images)

Lammes has already closed its Round Rock location, with its remaining retail footprint expected to wind down in the coming weeks.

The closure underscores broader challenges facing small businesses, particularly in fast-growing cities like Austin, where rapid expansion during the pandemic era has been followed by shifting economic conditions and rising operating costs.

Founded in 1885 after the Lamme family reacquired the business, the company became known for its pecan pralines and other handcrafted sweets, building a loyal customer base across Texas and beyond.

A customer chooses candy at Lammes Candies on Airport Boulevard in Austin on Monday, April 27, 2026.

Ahead of the shutdown, the company is offering a final round of seasonal products, including its chocolate-covered strawberries for Mother’s Day, calling the limited run a “farewell” to customers after more than a century in business.

CLICK HERE TO GET FOX BUSINESS ON THE GO

“We’ve been so honored to be part of your celebrations and your sweetest moments,” the company wrote in a separate post. “Now we’re asking one last thing: savor every bite.”

Billionaire and Citadel CEO Ken Griffin repeated his company’s intentions to “double down” on moving to Miami in the wake of his feud with New York City Mayor Zohran Mamdani.

“When we moved from Chicago, there was a debate between New York and Miami,” Griffin said at the 2026 Milken Institute Conference on Tuesday. “It’s unquestionably true that we made the right choice. I’ll leave it at that.”

Griffin was responding to Mamdani’s viral Tax Day video, which singled out Griffin’s Manhattan penthouse while announcing a new pied-à-terre tax.

MAMDANI TAX BREAK PROPOSAL SPARKS FEARS AS BUSINESS LEADERS WARN OF ‘FRAGILE’ NYC ECONOMY

Citadel CEO Ken Griffin supported more of his business partners moving to Miami from New York City. (Kayla Bartkowski/Getty Images / Getty Images)

He referred to the video as “creepy and weird” and urged his New York business partners to continue to invest in freer cities like Miami.

“Now what the mayor of New York has made clear to my partners, and principally my New York partners, is that we need to double down on our bet in Miami because we want to be in a state that embraces business, embraces education, embraces personal freedom and liberty,” he said. “And that embraces people having an opportunity to live the American dream, a dream of earned success, not a dream of distributive handouts that leave people dependent on government for their lives and their livelihoods in a way that takes away their dignity and honor.”

“We’ve seen a mass exodus of business leadership from California to Texas and Florida. Mamdani’s making it very clear. New York doesn’t welcome success,” Griffin added.

TAX FIGHT HEATS UP AS NEW YORK TARGETS WEALTHY HOMEOWNERS

On April 15 (Tax Day), NYC Mayor Zohran Mamdani posted a video outside Ken Griffin’s Manhattan penthouse promoting a new “tax-the-rich” policy. (Spencer Platt/Aaron Schwartz/Bloomberg/Getty Images / Getty Images)

In a statement to Fox News Digital, “Mayor Mamdani wants all New Yorkers to succeed. That includes business owners and entrepreneurs who create good-paying jobs and make this city the economic engine of America. It also includes Ken Griffin, who is a major employer in our City and a powerful figure in our economy.”

The statement continued, “That does not negate the fact, however, that our tax system is fundamentally broken. It rewards extreme wealth while working people are pushed to the brink. The status quo is unsustainable and unjust. If we want this city to become a place that working people can afford, we need meaningful tax reform that includes the wealthiest New Yorkers contributing their fair share.”

O’LEARY SLAMS NYC TAX PLAN AS ‘SHEER BLIND STUPIDITY,’ DEFENDS WEALTHY INVESTORS

Despite calling out Griffin in his video, Mamdani personally thanked Griffin for his donation to the New York Police Department last week.

New York City Mayor Zohran Mamdani has previously criticized billionaires, including Ken Griffin, whom he recently thanked for supporting police. (Spencer Platt/Getty Images / Getty Images)

“I want to thank everyone who is here with us in the Hall of Heroes today, with special thanks to Police Commissioner [Jessica] Tisch and NYPD leadership,” Mamdani said at One Police Plaza, speaking before department brass and families of slain officers.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

“I also want to thank Ken Griffin for funding a memorial wall that will open later this year,” he added.