Although on Tuesday Reeves, in contrast, stressed that the red lines set out in Labour’s manifesto still stand, the chancellor has now clearly signalled a shift. She indicated in her Mais lecture that, wherever it was in Britain’s interest to do so, the government wants to align the UK’s regulatory regime with that of the EU in more areas.

Shares of Concord Biotech surged as much as 8.46% on Wednesday, hitting an intraday high of Rs 1,264.90, after the company announced that it had received approval from the U.S. Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Mycophenolate Mofetil for Oral Suspension USP, 200 mg/mL.

According to the company’s regulatory filing, the approved product is an antimetabolite immunosuppressant used for the prophylaxis of organ rejection in adult and pediatric patients aged three months and older undergoing kidney, heart, or liver transplants. The medication is administered in combination with other immunosuppressive therapies.

The company highlighted that the approval aligns with its long-term growth strategy and is expected to strengthen its presence in the U.S. pharmaceutical market. Industry estimates suggest that the U.S. market for Mycophenolate Mofetil is valued at approximately US$30 million, providing Concord Biotech with a significant commercial opportunity.

In its disclosure, Concord Biotech stated that the approval was granted by the U.S. Food and Drug Administration (USFDA) and pertains specifically to Mycophenolate Mofetil for Oral Suspension USP, 200 mg/mL. The company noted that the approval will enhance its product portfolio and support expansion across both U.S. and international markets. There were no instances of withdrawal, cancellation, or suspension of the approval, and therefore no associated penalties or adverse financial impact.

Stock Performance and Valuation

Despite Tuesday’s rally, Concord Biotech’s stock remains significantly below its 52-week high of Rs 2,150. The stock’s 52-week low stands at Rs 987. The company currently commands a market capitalization of approximately Rs 12,200 crore.

On the valuation front, the stock is trading at a price-to-earnings (P/E) ratio of 42.56 and a price-to-book (P/B) ratio of 6.13.

Technical Indicators

The stock’s Relative Strength Index (RSI-14) stands at 56.2, indicating neutral-to-positive momentum. An RSI reading below 30 is generally considered oversold, while a reading above 70 signals overbought conditions.

From a trend perspective, Concord Biotech is trading above six of its eight key simple moving averages (SMAs), reflecting a broadly positive technical setup.

Shareholding Pattern

Institutional investor activity remained mixed during the March 2026 quarter. Foreign Institutional Investors (FIIs) marginally increased their stake in Concord Biotech to 7.79% from 7.58% in the previous quarter, reflecting continued investor interest. In contrast, mutual funds trimmed their holdings, reducing their stake from 4.44% to 4.30% during the same period.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Calamos Investments is a diversified global investment firm offering innovative investment strategies including U.S. growth equity, global equity, convertible, multi-asset and alternatives. The firm offers strategies through separately managed portfolios, mutual funds, closed-end funds, private funds, an exchange traded fund and UCITS funds. Clients include major corporations, pension funds, endowments, foundations and individuals, as well as the financial advisors and consultants who serve them. Headquartered in the Chicago metropolitan area, the firm also has offices in London, New York and San Francisco.  For more information, please visit www.calamos.com.

Officers say the benefits of Wain Homes scheme would outweigh the harms

Plans to build homes on 14 acres of ‘productive farmland’ in Lancashire have prompted more than 450 people to contact a council, with nearly all of them objecting.

Wain Homes North West wants planning permission to build 122 homes on land east of Prescot Road in Aughton, near Ormskirk.

But objectors say the soil there is high quality and should stay used for farming. Others have fears that local health services would be over-stretched with extra people living in the new homes, or concerns about extra traffic or flooding.

Wain Homes is proposing a mix of new homes, from one-bedroom apartments to five-bedroom detached houses. New access is planned for cars, cyclists and pedestrians. It says the estate will be well-planned, will echo local architecture styles and will be ‘easily absorbed’ into its immediate context. And the new development would help address the need for local housing.

West Lancashire Council’s planning committee will consider the plan this week. But councillors are being advised by planning officers to defer it to a top officer and leading councillor to consider approval, subject to planning conditions and an agreement about cash contributions to local NHS services and amenities

The many objectors include Aughton Parish Council which ‘strongly opposes’ the housing plan application, having listened to local residents’ views. The parish said: “West Lancashire Council’s current local plan has two years to run so it would be premature to release ‘safeguarded’ land without justification. As far as we are aware, the current local plan has not under-delivered and housing targets are being achieved.

“This site has always been, and still is, in agricultural use and is identified as grades 2 and 3 in best and most versatile (BMV) measurements. National planning policy clearly states that BMV land should not be developed unless absolutely necessary. The loss of this land for housing would be contrary to national policy and result in the permanent loss of productive farmland.”

Grade 1 is the most productive soil, classed as ‘excellent’. Grade 2 is ‘very good’ and grade 3 is ‘good to moderate’, according to Natural England guidance for planning applications.

Aughton Parish Council also said the proposed development would represent a ‘severe and irreversible environmental loss particularly in respect of wildlife and protected species’.

Regarding local traffic, objectors say other possible housing developments along Prescot Road and Parrs Lane would create an unacceptable impact on road safety and the overall impact on roads would be ‘severe’.

However, West Lancashire planning officers say the benefits of housing would outweigh the harms, such as the loss of farmland. And measures could be taken to protect and re-use soil and to help hedges.

They believe borough councillors should delegate granting permission to the council’s deputy chief executive with a leading planning committee member, subject to an agreement with Wain Homes. Details to come should include numbers of affordable housing and specialist housing, public open space and biodiversity gains.

Planning officers have suggested Wain Homes pay £44,000 for open space provision elsewhere, £129,000 towards expanding or building an alternative NHS premises for Aughton Surgery and contribute over £400,000 towards road and transport needs.

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

NEW YORK — As the fast-food industry navigates shifting consumer preferences, inflationary pressures and intense competition in 2026, investors are weighing McDonald’s Corp. against Wendy’s Co. to determine which chain offers stronger potential returns amid ongoing value wars and menu innovation battles.

McDonald’s, the larger and more established player, has maintained relative stability with shares trading around $276-$311, while Wendy’s has faced significant headwinds, with shares hovering near $7.21 after challenging same-store sales and planned U.S. restaurant closures.

Analysts generally favor McDonald’s for its global scale, consistent dividends and defensive qualities, while Wendy’s appeals to those seeking higher yield and potential recovery upside despite near-term pressures.

McDonald’s Defensive Strength

McDonald’s has demonstrated resilience in 2026 with value-focused initiatives helping offset softer traffic trends. The company reported solid first-quarter results, with global comparable sales growth and operating margin expansion driven by operational efficiencies and strategic pricing.

Its extensive international footprint, digital ordering advancements and consistent innovation in menu items have supported steady performance. Analysts maintain a Moderate Buy consensus with average price targets around $333-$335, implying meaningful upside from current levels.

The company continues expanding its restaurant count globally while focusing on core strengths like breakfast and value meals. Strong free cash flow supports a reliable dividend, making it attractive for income-oriented investors seeking stability in the consumer discretionary sector.

Wendy’s Struggles and Turnaround Efforts

Wendy’s has encountered more difficult conditions, reporting its weakest U.S. same-store sales in 20 years amid value menu missteps and competitive pressure from McDonald’s. The company plans to close approximately 240 U.S. locations in 2026 as part of efficiency initiatives while focusing on international growth, including a major franchise agreement in China.

Despite challenges, Wendy’s offers a high dividend yield near 7% and trades at lower valuation multiples. Analysts assign a Hold to Reduce consensus with average price targets around $8.00-$8.56, suggesting modest upside potential.

Management has reaffirmed 2026 guidance with flat systemwide sales growth and adjusted EBITDA between $460 million and $480 million. Turnaround efforts center on operational improvements, menu optimization and international expansion to offset domestic pressures.

Key Comparison Factors

Scale and Market Position: McDonald’s dominates with thousands more locations worldwide and stronger brand recognition. Wendy’s maintains a smaller but differentiated presence focused on fresh beef and breakfast offerings.

Financial Performance: McDonald’s shows more consistent revenue and earnings growth. Wendy’s faces margin pressures and negative same-store sales trends but benefits from a higher dividend yield that appeals to income investors.

Growth Outlook: McDonald’s benefits from global scale and digital initiatives. Wendy’s is betting on cost efficiencies, selective closures and overseas expansion for recovery, though 2026 guidance remains cautious.

Risk Profile: McDonald’s offers lower volatility and defensive characteristics. Wendy’s carries higher risk due to execution challenges but potential reward if turnaround measures succeed.

Broader Industry Context

The fast-food sector faces consumer trade-down behavior amid economic uncertainty. Value menus have become critical battlegrounds, with McDonald’s aggressive pricing helping maintain traffic. Both companies contend with rising labor and commodity costs, though McDonald’s scale provides advantages in supplier negotiations.

Digital ordering, loyalty programs and menu innovation remain key differentiators. International markets offer growth opportunities, particularly in Asia, where Wendy’s is expanding aggressively through franchising.

Investment Considerations for 2026

Conservative investors seeking stability and reliable dividends may prefer McDonald’s, which continues delivering consistent performance despite industry challenges. Those comfortable with higher risk and seeking elevated yield could consider Wendy’s, particularly if turnaround initiatives gain traction.

Portfolio allocation matters significantly. Many investors maintain exposure to both names or broader restaurant ETFs to balance defensive qualities with recovery potential. Long-term horizons favor companies with strong brands and adaptable business models.

Neither stock is without risks. McDonald’s faces valuation concerns at current levels, while Wendy’s contends with execution risks and domestic market pressures. Macroeconomic factors including consumer spending, inflation and interest rates will influence both companies.

Final Outlook

McDonald’s currently appears the stronger choice for most investors in 2026, offering better stability, global reach and consistent execution. Wendy’s provides higher yield and potential upside for those bullish on its recovery strategy, though near-term challenges persist.

Market conditions remain fluid, and investors should monitor quarterly results closely. Thorough due diligence and consideration of individual risk tolerance remain essential before making investment decisions.

Kenzie Annis, a 24-year-old nursing graduate from Georgia, enters the “Love Island USA” Season 8 villa as one of the original Islanders, bringing a mix of professional ambition, romantic optimism and unexpected pre-show scrutiny that has already drawn significant online attention.

Annis joins the cast for the Peacock reality series premiering Tuesday night, hoping to find lasting love after more than a year of being single. In pre-premiere interviews, she spoke openly about her desire for a deep connection modeled after her parents’ long marriage. “I really do feel like I’m this big lovergirl inside,” she said. “My parents are still in love, and it’s beautiful how their marriage has grown. It’s been 30 years. I want that kind of love.”

Background and Career Path

Originally from Powder Springs, Georgia, and educated in nearby Kennesaw, Annis recently earned her Bachelor of Science in Nursing degree from Kennesaw State University in May 2026. She celebrated the milestone on social media, writing, “All glory to God I GRADUATED NURSING SCHOOL! Thank you KSU for some of the hardest, but best years of my life! I am happy to announce, I am now adding BSN to my name!”

In addition to her nursing credentials, Annis works as a nanny, balancing caregiving roles that she says have shaped her nurturing personality. Before pursuing healthcare, she was a competitive dancer with CK DanceWorks Inc. In 2017, she placed 17th in the Top Intermediate Solo 15-19 category at the National Finals. She has maintained her dance practice, noting in interviews that starting her day with stretches helps manage stress.

Her combination of medical training, caregiving experience and performance background presents a multifaceted personality that producers likely hope will resonate with viewers seeking authentic connections amid the villa’s high-pressure environment.

Pre-Premiere Controversy

Annis has faced online backlash before even stepping foot in the Fiji villa. Old photographs circulated on social media appearing to show her wearing “Make America Great Again” merchandise, prompting accusations of political support for former President Donald Trump. The images sparked heated discussion among fans of the show, many of whom questioned her values and suitability for the diverse cast.

Her family has pushed back strongly against these assumptions. In a viral TikTok video, her brother Alden Annis addressed the controversy directly. “Me and my family are very against the Trump administration,” he said. “We have never voted for Donald Trump. It’s really just been weighing down on me, the things I have seen people online saying about my sister just from short… two pictures, three pictures or something. Today, she is not… She’s an amazing woman. She’s a huge role model to me. So, it’s just really hard to hear these false accusations.”

Her father also denied the family’s support for Trump in comments to TMZ. The situation highlights the intense social media scrutiny faced by reality television participants, where past images or posts can resurface and shape public perception before a season even begins.

What Viewers Can Expect

Annis has described herself as ready for a fresh start in romance. “I was in love once, but I’ve been single now for a year and a half. I’m so starving for some boys,” she said candidly. Her openness about seeking meaningful connection rather than casual dating could create compelling storylines as she navigates the villa’s rapid couplings and eliminations.

As a recent graduate entering the professional world while appearing on a major reality show, Annis represents the type of ambitious young adult the series often features. Her nursing background may offer unique perspectives during emotional conversations, particularly around vulnerability and support systems.

Season 8 Context

“Love Island USA” Season 8 premieres amid heightened expectations following the success of previous seasons. Ariana Madix returns as host, guiding a cast that includes a Paralympic athlete, a police officer, and international contestants. The format remains consistent: singles couple up to avoid elimination while competing for a $100,000 prize, with frequent recouplings and bombshell twists keeping the drama high.

The show has grown into one of Peacock’s flagship summer offerings, known for sparking cultural conversations about modern dating while delivering entertainment. However, it has also faced criticism regarding how contestants are vetted and the mental health impact of sudden fame and public judgment.

Annis’s situation adds another layer to ongoing discussions about social media accountability and the blurred lines between personal history and public entertainment. Producers have maintained that decisions about cast members are made with careful consideration, though the speed of online information sharing often outpaces traditional screening processes.

Broader Reality TV Trends

The controversy surrounding Annis reflects larger patterns in unscripted television. As platforms like TikTok and Instagram preserve years of user content, reality show producers face increasing challenges in predicting and managing public reactions. Several recent seasons across franchises have seen mid-production exits or pre-premiere adjustments due to resurfaced material.

Mental health advocates have called for stronger support systems for participants, noting that the combination of isolation in the villa and intense online commentary can be overwhelming. “Love Island USA” has expanded resources in recent seasons, though the effectiveness of such measures continues to be debated.

Fan and Social Media Reaction

Social media has been divided over Annis. Some viewers defend her right to personal political views or question the relevance of old photos, while others express disappointment and call for greater accountability from casting teams. The swift defense from her family has garnered sympathy from some quarters, framing the situation as an example of unfair online judgment.

As the season progresses, focus will likely shift from pre-show drama to her interactions within the villa. Her ability to form genuine connections and handle pressure will determine her popularity with audiences.

What Lies Ahead

With the premiere approaching, all eyes will be on how Annis presents herself and navigates the complex social dynamics of the villa. Her professional background as a nurse and nanny could position her as a caring and level-headed participant, potentially offering balance amid the typical emotional volatility of the show.

“Love Island USA” Season 8 represents a new chapter for Annis as she transitions from recent graduation into both her career and a highly public personal journey. Whether she finds the lasting love she seeks or faces further challenges, her participation highlights the opportunities and pitfalls of reality television fame in 2026.

Viewers can follow her journey starting Tuesday night on Peacock, where the full cast will begin their six-week quest for romance under constant surveillance. As with previous seasons, social media will play a major role in shaping narratives and public opinion throughout the summer.

Strategy aims to ‘power a more ambitious, connected and sustainable future’ for borough

Four new train stations could be built in one Greater Manchester area that is ‘on the rise’ with work due to start on the first within the next year.

The new details have emerged in a new draft transport strategy published ahead of a Stockport Council meeting on June 8. This policy promises to make everyday journeys ‘easier, safer and more reliable’ through improved train, bus, tram, and active travel routes across the borough.

Coun Grace Baynham, who oversees transport services at the council, said the policy ‘sets out how we will turn that ambition into reality’, adding: “We can create a transport system that not only meets the needs of today, but helps power a more ambitious, connected and sustainable future for Stockport.”

Among many things, the policy includes seven aims to improve transport by 2042 from a revamped Stockport station, a new railway station in Cheadle, step free access on more platforms, as well as the extension of the Didsbury tramline to Stockport.

The local authority also wants to see improved connections to Manchester Airport potentially through a new east-west rapid bus transit service and options may also be explored to extend the tram network into the borough further going forward.

The new train station in Cheadle, next to the Alexandra Hospital, will run services into Stockport, Manchester Piccadilly, and Chester. Alongside this, the council also wants to push for greater connections from existing train stations into Stockport and Piccadilly.

There has been criticism over the lack of progress on the Cheadle station project. It has been a long way with funding approved in 2022 and planning permission granted in 2023.

Now, the local authority document said: “Our aim is that scheme delivery will start at the station over the coming year, with TfGM [Transport for Greater Manchester] expected to take over operation and maintenance of the station site once the works are completed.”

The council also ‘plan to investigate the potential for a new rail station at Stanley Green, which could support planned development in Heald Green’

The document added: “We also have historically considered the potential for a new rail station at High Lane, with recognition to the impact this would have on Middlewood station, while a potential new rail station at Adswood on the Mid-Cheshire line is recognised to likely be dependent of future tram-train proposals.”

On extensions to the Manchester tram network from Didsbury, the council said TfGFM ‘is progressing work to establish this business case alongside further development of potential tram / tram-train route options’. Options for routes are being identified with funding coming from a £2.5bn fund.

Beyond the Didsbury line, the council report said recent work ‘has indicated it may be possible to operate tram-train services between Stockport and the Airport’. This would go via the mid-Cheshire line and call at the new Cheadle station.

Those plans depend on a number of factors and could even connect up to the new railway planned to run between Liverpool, Warrington, and Manchester. Tram services could also run in the future from Manchester Piccadilly to Rose Hill Marple via Guide Bridge as well as Marple via Bredbury.

The existing railway line between Reddish and Denton could also be turned into a new tramline though this is currently considered unlikely due to gaps between populated areas and a low density of people living in the area. However in the future, circumstances may change and the underused line could be used more in the future as Stockport becomes better connected.

Redeveloping Stockport station, the council want to turn it into ‘a state-of-the-art thriving transport hub’ with a new eastern concourse, a new footbridge, a new Edgeley western entrance, refurbished subway, and better access. Work is currently progressing to look at funding works at the station through local transport funding.

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.