Zoey Gong, a Chinese medicine food therapist, was days away from boarding an Emirates flight from Paris to Shanghai via Dubai, United Arab Emirates, when the U.S. and Israel attacked Iran on Saturday.
Gong, 30, had her flight plans derailed as a result, and she told CNBC that she had to pay $1,600 to get to Shanghai, more than double the price of her original ticket.
She’s one of millions of travelers swept up in war and other conflicts from Iran to Mexico this year, problems that are threatening the global tourism industry that’s worth an estimated $11.7 trillion to the world’s economy, according to industry group World Travel & Tourism Council. It’s showing that people who are far from falling missiles, drone attacks and other geopolitical flashpoints aren’t immune to ripple effects.
‘Aviation quagmire’
Stranded passengers wait with their luggage outside the Hazrat Shahjalal International Airport in Dhaka on March 3, 2026 after carriers cancelled flights amid the Middle East conflict.
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Munir Uz Zaman | Afp | Getty Images
The U.S.-Israel attack on Iran set off massive aviation, travel and safety crises.
More than a million people around the world were stranded because of airspace closures that have grounded over 20,000 flights since Saturday, according to aviation data firm Cirium. Some were also stuck on cruise ships. Inquiries for more expensive “cancel for any reason” travel insurance policies surged 18-fold this week, said Chrissy Valdez, senior director of operations for Squaremouth, an online insurance marketplace.
Since Saturday, Iran has launched retaliatory attacks on the United Arab Emirates — home to Dubai International Airport, the world’s busiest for international passenger traffic, according to Airports Council International — as well as Qatar, Jordan, Israel and Cyprus. The back-and-forth attacks have left airlines with little recourse to repatriate travelers.
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Days after the attack, the U.S. State Department told citizens in a large part of the region to leave immediately, with few options at hand. The department said it is organizing charter flights for U.S. citizens who want to return from Saudi Arabia, Israel, UAE and Qatar.
“This has spiraled into an aviation quagmire,” said Henry Harteveldt, a former airline executive and founder of travel consulting firm Atmosphere Research Group.
Other sectors of the travel industry are also dealing with the war’s impact. Debris rained down near Accor‘s Fairmont The Palm Hotel in Dubai over the weekend. The company said four people were injured, but none were guests, visitors or staff. Meanwhile the iconic Burj Al Arab hotel had a fire earlier this week after it was hit by debris from an Iranian drone.
(L to R) The Malta-flagged cruise ships Aroya Manara and MSC Euribia are anchored at the port of Dubai on March 4, 2026.
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Giuseppe Cacace | AFP | Getty Images
MSC Cruises’ more than 6,300-passenger MSC Euribia ship has been stranded in Dubai and the company is trying to get flights for affected guests, it said. “We are requesting priority for our guests from our partners,” the company said in a statement.
“In order to speed up the repatriation, we are working on other options such as chartering flights” from Dubai, Abu Dhabi, UAE, or Muscat, Oman, but the situation on board “remains calm,” the cruise company said.
Earlier this week, MSC said it would cancel its remaining sailings from Dubai for the winter. “We understand that this will be disappointing, but we are sure that guests impacted will understand this decision,” it said.
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Putting aside the Covid-19 health crisis that ground most international travel to a halt, Harteveldt called this week “the most chaotic event we’ve seen frankly since 9/11 when the U.S. chose to close its airspace. We haven’t seen anything that has had such a long and geographically widespread impact on travel.”
Global conflicts
Flightradar24 still of flight traffic across the Middle East on March 4th, 2026.
Source: Flightradar24.com
The Iran war is the most severe military conflict this year, but it’s one of a series of obstacles that have threatened travel demand and profits for hotels, airlines and cruise companies, as well as local economies that depend heavily on travel, especially international tourists, who tend to spend more than local visitors.
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Three days into 2026, the U.S. struck Venezuela and captured its president, Nicolás Maduro, and his wife, Cilia Flores. The attack prompted the U.S. to close airspace throughout the Caribbean, stranding travelers, many at pricey resorts and home rentals they had booked for the holidays.
Read more about military conflicts’ impact on commercial flights
Then in February, flights were grounded in parts of Mexico, including in the coastal resort city of Puerto Vallarta and in Guadalajara, after violence broke out following the Mexican army’s killing of a cartel leader.
Executives have already had to make costly changes: rerouting or cancelling sailings, issuing flexible booking and refund policies, grounding planes and changing flight plans altogether, or discounting hotel rooms.
The cost of these conflicts is still being tallied, including for fuel, one of the biggest expenses for cruise companies and airlines along with labor, and are usually passed along to consumers, so that means pricier tickets and stays could be in the cards.
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Australian carrier Qantas, for example, told CNBC that its flight from Perth, Australia, to London will now travel a route that requires it to stop to refuel in Singapore, though that will also allow it to pick up another roughly 60 passengers.
Best year ever?
Passengers look at departure screens showing cancelled flights to Puerto Vallarta at Benito Juarez International Airport after authorities reinforced security following roadblocks and arson attacks carried out by organized crime in several states, after a military operation in which a government source said Mexican drug lord Nemesio Oseguera, known as “El Mencho,” was killed in Jalisco state, in Mexico City, Mexico, February 22, 2026.
Luis Cortes | Reuters
Travel executives started off 2026 as they often do: upbeat. Some airline executives, including those at the most profitable U.S. carriers, Delta Air Lines and United Airlines, forecast record earnings this year.
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The war and other incidents erupted as the travel industry has been leaning on premium options to woo wealthier customers, who make up a greater share of spending overall. Losing the base for more expensive trips could be extra disadvantageous to those companies and local economies.
In Mexico, for example, tourism makes up close to 9% of the economy and international tourist arrivals rose 13.6% last year to 98.2 million people, who spent close to $35 billion, according to the country’s Tourism Ministry.
Now, airlines are pulling back on traveling to Puerto Vallarta, at least from the United States in the near term. Delta cut routes from April 3 through the end of the month to the city, except for once-daily flights from Los Angeles and Atlanta, according to the Cranky Network Weekly newsletter, which covers the airline industry’s network changes. Alaska Airlines and Southwest Airlines also cut service in March.
“Perhaps people will forget about the PVR [Puerto Vallarta International Airport] concerns now that headlines will shift to the Middle East and bookings will rebound, but we will be watching capacity changes as leading indicators,” Brett Snyder and Courtney Miller, the newsletter’s authors, said in the March 1 edition.
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Smoke billows amid a wave of violence, with torched vehicles and gunmen blocking highways in more than half a dozen states, following a military operation in which a government source said Mexican drug lord Nemesio Oseguera, known as “El Mencho,” was killed, in Puerto Vallarta, Jalisco, Mexico, February 22, 2026.
@morelifediares via Instagram | Reuters
The recent issues also come three months ahead of the FIFA World Cup, which is set to be hosted by cities in Canada, Mexico and the United States.
Some hotels in Mexico are starting to notice a change, too.
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Victor Razo, manager at the Rivera del Rio hotel in Puerto Vallarta, told CNBC that bookings are down around 10% compared with last year.
“We’ve had some promotions given what had happened,” he said, adding it brought down rates between 10% and 20% ahead of the busy spring break and Holy Week period in the coming month.
He added that the hotel wasn’t near the problems, which included road blockades, and that bookings have since stabilized.
“It’s not like the beginning of the pandemic,” he said. “There is no comparison.”
When speaking at the McDonald’s Impact Summit, President Donald Trump urged the company to put more tartar sauce on the Filet-O-Fish.
Wendy’s has launched a nationwide contest offering one fan the opportunity to become the company’s “Chief Tasting Officer,” a role tied to a $100,000 compensation package.
The Wendy’s Chief Tasting Officer contest began March 2 and runs through March 30, according to the contest’s official rules.
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The grand prize includes “the opportunity to become Wendy’s Chief Tasting Officer and employment by Wendy’s as an independent contractor, receiving a salary equal to $100,000,” conditioned upon completing specified social media content deliverables under contract.
Wendy’s said it is looking for “one lucky fan with genuine brand love, creativity, and a personality that fits everything Wendy’s stands for.”
Wendy’s launched the “Chief Tasting Officer” competition this week, with a grand prize of $100K. (Image courtesy of The Wendy’s Company / Unknown)
“If you’re the type who cares more about fresh, never frozen beef than climbing the corporate ladder or knows more about JBCs than KPIs—we want you,” the company said. “Apply here and show us what you’ve got.”
A recent video posted by McDonald’s CEO Chris Kempczinski reviewing the chain’s new Big Arch burger drew attention after he described the sandwich as a “delicious product.”
An employee hands a customer their order at the drive-thru window of a Wendy’s Co. restaurant in Peoria, Illinois, U.S., on Monday, Feb. 2, 2015. (Daniel Acker/Bloomberg / Getty Images)
“Holy cow! God, that is a big burger,” Kempczinski said. “That is so good.”
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The McDonald’s website describes the limited-time burger as featuring two quarter-pound patties, three slices of cheddar cheese, lettuce and pickles, along with crispy and slivered onions and a “tangy [and] creamy” sauce.
Social media users reacted in the comments.
“He acts like he’s never seen a burger before. Impressed by sesame seeds,” one Instagram user wrote.
A Wendy’s restaurants on November 13, 2025 in lower Manhattan, New York City. Fast food chain Wendy’s has reported a 4.7% decline in sales at U.S. locations, and the company has decided to close hundreds of its U.S. stores next year. (ZAMEK/VIEWpress / Getty Images)
“That was the smallest first bite I’ve ever seen,” another said.
“It scares me when you call food ‘product,’” a third added.
Wendy’s official X account reposted a video shared by account PopCrave, writing: “This is what it looks like when you don’t have to pretend to like your ‘product’”
Popeyes’ official X account posted their own clapback, writing: “they really do need to hire someone to taste their food to be fair.”
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Wendy’s responded: “Flopeyes”
According to the official rules, the contest is open to legal residents of the 50 United States and Washington, D.C., who are 18 years of age or older. No purchase is necessary.
Participants can enter by posting a public 60-second video on Instagram or TikTok using #WendysCTOContest and tagging @Wendys, or by uploading a submission through www.wendyschieftastingofficer.com.
Entries that feature Wendy’s products, logos, stores or branding receive five additional points during judging.
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Ten finalists will be selected based on creativity, brand love, brand safety, personality and potential. Each category accounts for 20% of the judging score.
The company’s promotional listing describes the position as:
Babydog Justice, the English bulldog and beloved mascot belonging to West Virginia Gov. Jim Justice, also reacted on X.
“I noticed being human is a requirement for this role… @Wendys is barking up the wrong tree,” the account wrote. “This job is clearly meant for a paw-fessional taste tester like me!”
Entrants must be at least 18 years old and legal residents of the United States or Washington, D.C.
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Fox News Digital’s Andrea Margolis contributed to this reporting.
Target announced on Thursday it will open its 2,000th store this month in North Carolina as part of an expansion that will include dozens more stores opening this year.
The milestone 2,000th location will open in Fuquay-Varina, North Carolina, on March 15. It will be Target’s 55th store in North Carolina. The new 148,000-square-foot store, located near Raleigh, will include a CVS Pharmacy, Starbucks Cafe and Disney Shop inside.
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The company said this location “represents the future of Target’s elevated guest experience with its open, easily navigable layout, convenient same-day services and winning team delivering a more relaxed and enjoyable shopping visit.”
The milestone 2,000th location will open in Fuquay-Varina, North Carolina, on March 15. (REUTERS/Brendan McDermid/File Photo / Reuters Photos)
Target also plans to open 30 new stores this year and 300 by 2035 in what the company described as a new chapter in its strategy to drive long-term, sustainable growth by investing in stores.
In addition to the new store in North Carolina, other new Target stores are set to open this month in Bakersfield and Delano, California; Springfield, Missouri; Jersey City and West Orange, New Jersey; and Dallas, Texas.
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“Guests tell us all the time they want a Target closer to home, and this investment helps us do exactly that,” Adrienne Costanzo, chief stores officer at Target said in a press release. “That means even more neighborhoods will get the full Target experience: trend-forward style and value, technology that makes the trip effortless and awesome teams who deliver easy, inspiring and friendly moments every single day.”
Target also plans to open 30 new stores this year and 300 by 2035. (iStock / iStock)
The company said there is a Target store within 10 miles of most doorsteps across the U.S.
Target has listed more than 40 additional communities across 25 states that will eventually have a new store open. Based on the future store openings Target has already confirmed, the states that will have the most new stores are Florida, North Carolina and Texas.
It also said there would be more than 130 remodels on top of the store openings. Next-day delivery will also launch in more than 20 new metro areas, which the company said reaches 60% of the U.S. population.
The company said there is a Target store within 10 miles of most doorsteps across the U.S. (Eva Marie Uzcategui/Bloomberg via Getty Images / Getty Images)
The retailer said it is “making a commitment to the neighborhoods it calls home.”
“Every time we open a new Target store, we’re planting roots in that community,” Costanzo said. “That means in addition to delivering a better shopping experience that’s faster and more reliable, we’re creating growth and opportunity — through good jobs, support for local nonprofits and long-term economic investment in the neighborhoods we serve. When our teams and communities thrive, so do we.”
Inflation, as measured by the U.S. Consumer Price Index (CPI), continued easing during the fourth quarter. However, the government shutdown caused disruptions in the data collection process that may have called its reliability
ET Intelligence Group: A sharp rise in crude oil prices is set to dent the March-quarter profit margins of oil marketing companies (OMCs) as higher feedstock costs compress refining margins, soften fuel-price spreads and widen LPG under-recoveries. Brent crude has jumped nearly 16% so far in calendar 2026 rising from about $71 per barrel at the start of January to $82.3 per barrel as of March 05. While upstream companies including ONGC and Oil India benefit from rising crude prices, the extent of gains will depend upon the government policies related to windfall taxing and subsidy allocations.
Rising crude oil prices compress the gross refining margins (GRM) of OMCs because retail prices of petroleum products such as diesel and petrol do not adjust immediately. GRM is the difference between prices of crude oil and petroleum products.
“For every $1 per barrel rise in crude price, OMCs’ auto-fuel gross marketing margin declines by ‘0.55 per litre (assuming no change in retail petrol, diesel price and excise duty on petrol and diesel) and drags down their consolidated Ebitda (Earnings Before Interest, Taxes, Depreciation, and Amortisation) by 7-9%,” said JM Financial Institutional Securities in a report adding that OMCs typically earn a gross marketing margin of about ‘3.5- 4 per litre on petrol and diesel when Brent is around $70 per barrel.
Agencies
Flow chart Costlier crude impacts price spreads and also worsens LPG under-recoveries
Nomura Financial Advisory and Securities expects integrated margins, which include refining, fuel marketing and LPG under-recoveries, to decline by around $3-4 per barrel at the current crude oil prices for IOCL, HPCL and BPCL compared with the previous quarter. Higher crude prices also worsen LPG under-recoveries, which eat into OMC profits. Nomura highlights that LPG under-recoveries have more than doubled to ’69 per cylinder in the March quarter till date from ’33 per cylinder in the previous quarter. Since LPG prices are subsidised, any increase in crude oil costs pushes OMCs’ LPG under-recoveries higher.
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Upstream companies including ONGC and Oil India, which benefit directly from rising crude prices, are likely to see stronger earnings on the back of higher realisations. ONGC and Oil India would be key beneficiaries if Brent crude sustains above $70 per barrel, as every $1 rise in oil prices boosts their earnings by 1.5-2%, said JM Financial Institutional Securities. Spot LNG prices have more than doubled to $25 per mmbtu (Million British Thermal Units) after QatarGas announced a shutdown in LNG production on March 02. This is likely to affect gas utilities such as GAIL, Petronet LNG, Gujarat Gas and other city gas distributors since both volumes and margins are likely to come under pressure.
Lineage Cell Therapeutics, Inc. (LCTX) Q4 2025 Earnings Call March 5, 2026 4:30 PM EST
Company Participants
Ioana Hone – Director of Investor Relations Brian Culley – CEO, President & Director Jill Howe – CFO & Principal Financial and Accounting Officer
Conference Call Participants
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Joseph Pantginis – H.C. Wainwright & Co, LLC, Research Division Jack Allen – Robert W. Baird & Co. Incorporated, Research Division Mayank Mamtani – B. Riley Securities, Inc., Research Division Gum-Ming Lowe – Craig-Hallum Capital Group LLC, Research Division Yang Chen – Raymond James & Associates, Inc., Research Division
Presentation
Operator
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Welcome to the Lineage Cell Therapeutics Third (sic) [ Fourth ] Quarter 2025 Conference Call. [Operator Instructions] An audio webcast of this call is available on the Investors section of Lineage’s website at www.lineagecell.com. This call is subject to copyright and is the property of Lineage. And recordings, reproductions or transmission of this call without the expressed written consent of Lineage are strictly prohibited. As a reminder, today’s call is being recorded.
I would now like to introduce your host for today’s call, Ioana Hone, Head of Investor Relations at Lineage. Ms. Hone, please go ahead.
Ioana Hone Director of Investor Relations
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Thank you, Jamie. Good afternoon, and thank you for joining us. A press release reporting our fourth quarter and full year 2025 financial results was issued earlier today, March 5, 2026, and can be found on the Investors section of our website.
Please note that today’s remarks and responses to your questions reflect management’s views as of today only and will contain forward-looking statements within the meaning of federal securities laws. Statements made during this discussion that are not statements of historical fact should be considered forward-looking statements, which are subject to significant risks and uncertainties. The company’s actual results or performance may differ materially from the expectations indicated by
