HOUSTON — Travelers at George Bush Intercontinental Airport faced grueling security lines Wednesday as the ongoing partial government shutdown continued to cripple TSA staffing, with wait times at the major Houston hub reaching as long as four hours or more during peak periods. Houston Airports officials warned passengers to prepare for extended delays, with checkpoints consolidated into just two terminals and expedited lanes largely unavailable.
George Bush Intercontinental Airport’s air traffic control tower in December 2006
As of midday Wednesday, official estimates on the airport’s website showed Terminal A South checkpoint waits at 240 minutes — four hours — while Terminal E registered 180 minutes, or three hours. Lines frequently snaked outside terminals and even into non-standard queuing areas, including underground train levels in some cases. By evening hours on recent days, some waits eased to under 30 minutes as passenger volumes dropped, but morning and midday rushes remained chaotic.
The disruptions stem from the federal government shutdown that began Feb. 14, now stretching into its sixth week. TSA officers nationwide continue working without pay, leading to high call-out rates. At IAH, absenteeism has hovered around 36% to 39%, among the highest for major U.S. airports, forcing consolidation of screening operations. Only Terminals A and E currently host active TSA checkpoints, with reduced lanes and no consistent TSA PreCheck or CLEAR services.
Houston Airports System Director of Aviation Jim Szczesniak noted in recent updates that staffing levels allow only a third to half of normal screening lines to operate across the airport’s five terminals. Federal Immigration and Customs Enforcement (ICE) agents have been deployed to assist at IAH and neighboring William P. Hobby Airport, helping direct crowds, distribute water and maintain order, though they do not perform screening duties.
George Bush Intercontinental, one of the nation’s busiest airports and a key hub for United Airlines, handles more than 45 million passengers annually. Its five terminals — A, B, C, D and E — serve a mix of domestic and international flights, with Terminal C primarily dedicated to United operations. During the current crisis, passengers checking bags in other terminals are directed to A or E for security, adding further complexity and time.
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Airport officials have issued repeated alerts urging travelers to arrive significantly earlier than usual. Recommendations include contacting airlines immediately for potential rebooking waivers, downloading airline apps to monitor gates while in line, and limiting carry-on items to speed the process. Some airlines have offered flexible rebooking options for those missing flights due to security delays.
Third-party trackers showed varying averages. Historical hourly data indicated overnight waits around 15-27 minutes, rising to 30-37 minutes during typical daytime hours under normal conditions. However, current conditions have rendered many estimates unreliable, with manual updates from the airport providing the most accurate guidance. The official MyTSA app has lagged during the shutdown, prompting reliance on fly2houston.com for real-time postings.
Travelers shared stories of frustration on social media and local news. Lines in Terminal A have extended across multiple floors, with some passengers reporting waits exceeding five hours on busy mornings. Families with children, elderly travelers and those with connecting flights faced particular hardship. Houston Airports staff in bright orange polos circulated to offer directions and assistance, while nonprofit groups provided meals to working TSA officers and fuel support for their families.
The shutdown has affected TSA operations nationwide, with similar long lines reported at hubs like Atlanta and others. In Houston, call-out rates at Hobby Airport reached over 40%, though smaller scale helped keep waits somewhat shorter there. At IAH, the situation has prompted warnings of missed flights and calls for swift congressional action to resolve the funding impasse.
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Experts note that TSA employs tens of thousands of screeners, and even moderate call-outs compound quickly during peak travel periods. The current crisis has highlighted vulnerabilities in the system, with reduced capacity forcing consolidation and longer processing times per passenger. Screening procedures remain unchanged, but fewer open lanes mean slower throughput.
Houston Airports has taken several steps to mitigate the impact. Non-TSA staff assist with bin management and passenger flow communication. Parking reservations are encouraged online to reduce ground congestion. The airport continues to monitor staffing in real time and adjust operations accordingly. International travelers, many routed through Terminal D or E, receive specific guidance to check bags before proceeding to active checkpoints.
For those with TSA PreCheck or Global Entry, services have been inconsistent or unavailable on many days, pushing all passengers into standard lanes. CLEAR biometric lanes have also been closed during peak disruption periods. Officials stress that safety remains the priority, with no compromises to screening protocols despite the strain.
Broader economic ripple effects include potential disruptions to business travel and tourism in the Houston region. The airport serves as a gateway to energy, medical and aerospace industries, amplifying the stakes of prolonged delays. Local elected officials and travel advocates have urged federal lawmakers to address TSA pay and staffing issues promptly.
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As the shutdown drags on, Houston Airports continues updating its FAQ with practical advice: Use restrooms and purchase necessities before joining lines; ensure ID matches boarding passes exactly; and remain flexible with travel plans. The agency has coordinated with airlines to minimize cascading delays where possible.
Looking ahead, spring break and summer travel seasons could exacerbate pressures if the funding situation persists. TSA has historically ramped up hiring during peaks, but current constraints limit that flexibility. Passengers with disabilities or medical needs are encouraged to contact TSA Cares in advance for coordinated assistance.
Wednesday’s conditions reflected the fluid nature of the crisis. While some evening relief appeared on prior days, officials cautioned that waits could again exceed four hours depending on staffing and flight schedules. Travelers are advised to check fly2houston.com/iah/security/ frequently, as updates occur throughout the day.
In the meantime, the airport maintains full operations for flights, with delays primarily tied to security bottlenecks rather than runway or gate issues. United Airlines and other carriers have issued advisories recommending passengers build in substantial buffer time — three to four hours or more for domestic flights during peak disruptions.
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The situation at George Bush Intercontinental Airport underscores the human element behind aviation security. TSA officers working without pay have shown dedication, but the strain is evident. Support efforts, including meals from the Houston Food Bank and assistance from Wings of Compassion, aim to sustain morale.
For now, patience and preparation remain the best tools for navigating IAH security. As negotiations in Washington continue, Houston travelers hope for swift resolution to restore normal staffing and shorter lines at one of the country’s busiest gateways.
Retail investors trimmed stakes in 96 Nifty Midcap 150 stocks amid weak performance, with many declining sharply over six months, signaling fading confidence and cautious sentiment toward select midcap companies.
Naturgy Energy Group, S.A. (GASNY) Shareholder/Analyst Call March 24, 2026 5:00 AM EDT
Company Participants
Francisco Reynés Massanet – CEO & Executive Chairman Manuel García Cobaleda – Secretary of the Company and the Board
Conference Call Participants
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Fernando de la Camara Garcia
Presentation
Francisco Reynés Massanet CEO & Executive Chairman
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Good morning, ladies and gentlemen. Thank you. Thank you so much for being here. If you allow me, before I officially start this AGM, I would like to share with you a video that summarizes joint and in-depth work that we have done this year and after being shared and approved by the AGM has to do with our corporate purpose. Our corporate purpose has been defined as a goal that aims to facilitate the relationship that we all have with energy on a daily basis. By trying to improve the relationship with our employees, collaborators, public authorities, regulators, suppliers and especially so with the over 20 million customers that we have distributed through our geographies. So without further ado and before we officially start, allow me to show you this video that summarizes our commitment.
[Presentation]
Francisco Reynés Massanet CEO & Executive Chairman
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Ladies and gentlemen, shareholders, just like in previous years, I’m honored as the Chairman of the Board of Directors to welcome you to this ordinary AGM that the company holds, as we have in the past, both remotely and in person simultaneously. I would especially like to thank the presence of the members of the Board of Directors who are here present and also the representatives of the most significant shareholders. Especially this year, I have the honor of welcoming the representatives of Sonatrach, Mr. Eddine Daoudi and Mr. [ Atallah ] who are also with us here today. One more proof of that commitment and the fruitful relationship and long-lasting relationship we’ve had for over 40 years. Therefore, we officially open this
Ladies and gentlemen, thank you for standing by, and welcome to PDD Holdings Inc. Fourth Quarter and Fiscal Year 2025 Earnings Conference Call. [Operator Instructions] Please be advised that today’s conference call is being recorded. I would now like to hand the conference over to your host today. Sir, please go ahead.
Unknown Executive
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Thank you, operator, and hello, everyone, and thank you for joining us today. PDD Holdings earnings release was distributed earlier and is available on our website at investor.pddholdings.com as well as through the Globe Newswire services. Before we begin, I would like to refer you to our safe harbor statement in the earnings press release, which applies to this call as we will make certain forward-looking statements. This call also includes discussions of certain non-GAAP financial measures. Please refer to our earnings release, which contains a reconciliation of non-GAAP measures to GAAP measures.
Joining us today are Mr. Chen Lei, our Co-Chairman and Co-Chief Executive Officer; and Mr. Zhao Jiazhen, our Co-Chairman and Co-Chief Executive Officer.
Our VP of Finance, Ms. Liu Jun, is unfortunately on medical leave. Delivering the prepared remarks today will be Mr. Li Jiong, our Finance Director. Jiazhen and Lei will make some general remarks on our performance for the past quarter and our strategic focus. Jiong will then walk us through our financial results for the fourth quarter and fiscal year ended December 31, 2025.
Shares of RPSG Ventures surged as much as 20% to their day’s high of Rs 721 on the BSE on Wednesday after United Spirits announced the sale of its wholly owned subsidiary Royal Challengers Bengaluru (RCB) for over Rs 16,600 crore.
The RCB deal is being viewed as a key valuation benchmark for the IPL ecosystem, effectively resetting the valuation framework for other franchises. The ripple effect was visible in stocks such as RPSG Ventures and Sun TV, which own Lucknow Super Giants and Sunrisers Hyderabad, respectively.
According to Nuvama Institutional Equities, the $1.8 billion RCB transaction sets a new high-water mark for IPL franchise valuations. It implies a more than twofold jump over the $900 million valuation of the Gujarat Titans and is also higher than the Rajasthan Royals’ recent $1.6 billion valuation.
The brokerage noted that this reflects a sharp re-rating of IPL assets, with franchise valuations rising nearly 25 times since inception in 2008, driven by strong global investor interest, including private equity funds and US-based sports owners. Nuvama added that the deal establishes a strong benchmark for the sector and points to potential upside for other listed franchise owners such as Sun TV and RPSG Ventures.
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RPSG Ventures is in focus as its 51% stake in Lucknow SuperGiants is valued at nearly 250% of the company’s own market cap, even after a holding-company discount.
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The RCB franchise has been acquired by a consortium that includes the Aditya Birla Group, The Times of India Group, Bolt Ventures led by David Blitzer, and a Blackstone fund. The transaction, valued at about $1.8 billion, sets a fresh benchmark for IPL franchise valuations and highlights the growing appeal of T20 cricket assets. Also read: Buy on the cannons, sell on the trumpets? How stock market investors can deal with Iran war stressFor United Spirits Limited, a subsidiary of Diageo plc, the deal marks nearly a 16-fold return compared to its original bid in 2008. The transaction is subject to customary closing conditions, including approvals from the Board of Control for Cricket in India, the IPL Governing Council and other regulatory authorities. The BCCI will receive 5% of the deal value as a transfer fee.
The bidding process attracted strong interest from multiple groups. The winning consortium outbid a rival offer from Adar Poonawala of Serum Institute and Aditya Mittal of ArcelorMittal.
Other participants included Premji Invest alongside EQT, as well as a separate group comprising Ranjan Pai of Manipal Group, KKR and Temasek, which were involved in the early stages of bidding.
Financially, RCB reported revenue of Rs 504 crore and EBITDA of Rs 186 crore for FY25, according to United Spirits’ annual report. The franchise has already nearly matched those figures in the first half of FY26, posting revenue of Rs 478 crore and EBITDA of Rs 225 crore, surpassing the full-year FY25 EBITDA.
The Times of India Group is the publisher of The Economic Times.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Smallcap counter Sammaan Capital – which was in news today after the Reserve Bank of India (RBI) cleared decks for Abu Dhabi-based International Holding Company (IHC) to acquire a controlling stake – witnessed a bulk deal where French multinational bank Societe Generale bought shares worth Rs 76 crore. In another major deal, ace investor Mukul Agrawal sold shares worth Rs 8 crore in a microcap Siyaram Recycling Industries, which had fallen 72%.
Sammaan Capital
Societe Generale bought 50.6 lakh shares in Sammaan Capital at a price of Rs 149.92 per share. It was a premium of 8% over the Tuesday closing price of Rs 138.51 on the NSE. Today, its shares settled nearly 6% higher at Rs 146.30. The stock has been a market outperformer with 23% returns over a 1-year period and is currently trading above its 50-day and 200-day simple moving averages (SMAs) of Rs 145 and Rs 144, respectively, according to Trendlyne data.
The acquisition of a 66.65% controlling stake will be made via Avenir Investment RSC, which is owned and controlled by IHC.
Avenir Investment RSC proposed to invest nearly Rs 8,850 crore by the way of preferential issue. This is one of the largest investments by a Middle Eastern entity in India’s financial services sector.
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After the completion of the preferential issue, Avenir Investment will hold nearly a 41.23% stake in the company, while the rest will be acquired through an open offer, Sammaan Capital, formerly called Indiabulls Housing Finance, said in an exchange filing.
Siyaram Recycling Industries
Mukul Agrawal sold 21 lakh shares via a separate bulk deal where the buyer was Param Value Investments. The shares were purchased at a price of Rs 38.20 apiece, a 4.3% premium over the Tuesday closing price of Rs 36.64.Today, its shares settled at Rs 38.28, up by Rs 1.64 or 4.5% over the last closing price.
Agrawal held 22 lakh shares representing 10.10% stake in the company according the September shareholding data on the BSE.
The stock price has seen a 72% erosion in the past year.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
BASFBAS 2.40%increase; green up pointing triangle said it is raising prices sharply for more of its products, adding to a rash of price hikes among chemical makers as raw-materials costs soar due to the U.S. and Israel’s war with Iran.
The German group said Wednesday it would lift prices of commodity amines in Europe by up to 30%, with some price tags rising even more markedly. Amines are used as solvents and catalysts in an array of industries, from pharmaceuticals to personal care and agrochemicals.
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