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THE CANARY Islands are facing huge storms and rain this week, which has even meant snow in places like Tenerife and La Palma.

Here’s what you need to know if you have a holiday booked there.

What is happening in the Canary Islands?

Storm Therese has left the Canary Islands in turmoil as weather warnings have remained in place for several days.

More snow is expected in Tenerife after the mountains in the Teide National Park were blanketed in white on Thursday.

As a result, more than 40 flights have been cancelled this week across the Canaries.

Orange and yellow alerts are in place across the islands, warning of heavy rain, storms, flooding and high waves.

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Can I cancel my holiday?

If you want to cancel your upcoming holiday to the Canary Islands, you will be left out of pocket.

This is because the UK government still deems it safe to travel to Spain, so airlines and tour operators are under no obligation to refund you.

It is only when travel is warned against that it is likely your holiday will be cancelled and refunded.

Bad weather does not affect this.

And the weather warnings are expected to be lifted by the end of the week – so won’t affect the Easter holidays.

What if my flights are affected?

Compensation doesn’t apply here either – weather is seen as “out of the airline’s control”.

This means they do not have to offer any compensation if your flight is delayed by the weather.

They do, however, have a duty of care towards you, which includes hotels if the flight is delayed overnight, as well as food and drink vouchers.

The airline must put you on an alternative flight if yours is cancelled as well.

The UK Civil Aviation Authority (CAA) states: “If your flight is cancelled, many airlines will provide vouchers for you to buy food and drink.

“If you require accommodation, they may book a hotel and arrange transportation for you.

“If you end up paying for things yourself, keep every receipt and do not spend more than is reasonable.”

If you accept a refund, their duty of care ends towards you and you will have to pay for your own hotels and return flight home.

HUNDREDS of flights across Europe are being cancelled due to a two-day airline strike and thousands of Brits will be affected.

Lufthansa pilots are walking out today for a 48-hour period, over a dispute in regard to pay and pensions.

The airline has since been forced to cancel a huge part of the flight schedule until the strike ends on Saturday.

Around 50 per cent of all Lufthansa flight will be cancelled, which includes 40 per cent of long-haul flights..

This works out to around 300 flights a day, so 600 flights in total, according to Andreas Pinheiro, the head of the union.

Munich and Frankfurt have been hit with the most cancellations.

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Full list of cancelled flights across UK today after Storm Goretti closes airports

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A number of UK flights are included in this today, such as:

• 10:05am from London Heathrow to Frankfurt
• 11:05am from London Heathrow to Frankfurt
• 12:05pm from London Heathrow to Frankfurt
• 12:10pm from Manchester to Frankfurt
• 1:05pm from London Heathrow to Frankfurt
• 3:40pm from Edinburgh to Frankfurt
• 3:45pm from Manchester to Frankfurt
• 4pm from Birmingham to Frankfurt
• 4:05pm from London Heathrow to Frankfurt
• 6:05pm from London Heathrow to Frankfurt
• 8:05pm from London Heathrow to Frankfurt

A similar number are cancelled tomorrow as well, meaning thousands are affected travelling from the UK.

A statement from Lufthansa reads: “Lufthansa is working intensively to keep the impact on our passengers as low as possible and has published a special flight schedule for both strike days.

“According to this schedule, more than 50 percent of the originally planned flight program can be operated on Thursday and Friday.

“For long-haul connections, the share is as high as 60 percent.”

Passengers affected can request a refund or move their flight date for free up until March 23.

The cancellations are far fewer than the previous strike which saw up to 800 flights cancelled.

Back in February, the airline was forced to cancel 90 per cent of it’s planned flights, affecting 200,000 passengers.

Flights to the Middle East have have been excluded from the current strike action, due to the Iran conflict.

But the continued attacks across the Middle East are continuing to cause huge travel disruption.

More than 32,000 flights have been cancelled across the Middle East in the past three weeks due to the ongoing crisis, according to experts.

Our Travel Expert has answered all of your questions about any upcoming holiday.

California voters are being urged to put a poison-pill effort on the November ballot that would nullify a controversial proposed tax on the state’s billionaires.

Neither proposal has yet qualified for the ballot — supporters of each need to gather the verified signatures of hundreds of thousands of voters. But petitions that have been mailed and texted to California voters in recent days demonstrate the stakes in a contest that has drawn tens of millions of dollars in campaign spending.

“Government has wasted billions of our tax dollars on homelessness and many other failed programs with little to show for it,” reads the new mailing to voters. “We can’t afford more wasteful spending!”

The proposal is aimed at countering a proposed one-time 5% tax on billionaires assets that would fund healthcare for the state’s neediest residents, but opponents say it would lead to lost tax revenues as California’s wealthiest flee the state.

Mailers and texts recently sent to voters describe the new proposal as an effort to create a more accountable, transparent and effective state government that would require auditing of new state taxes and ensuring they comply with existing law.

The small-font description of the proposed initiative included in the mailing specifies that any new tax enacted after Jan. 1 must be deposited into the state’s general fund and conform with current state tax policy, which is an oblique reference to a prior voter-approved ballot measure requiring that a significant portion of the state’s tax revenue be spent on education.

If competing proposals appear on a ballot and are successful, the one that receives the most votes nullifies the other. There are other ballot measure proposals aimed at thwarting the billionaires tax.

The mailers and texts were funded by a committee called Californians for a More Transparent and Effective Government, which was funded by another group, called Building a Better California, according to the California secretary of state’s office.

Earlier this year, the latter group received a $20-million donation from Google co-founder Sergey Brin, $2 million from former Google Chief Executive Eric Schmidt and $2 million from Stripe CEO Patrick Collison, among donations from other Silicon Valley leaders, according to fundraising disclosure reports.

Attempts to reach spokespeople connected with the effort were unsuccessful Monday night.

Suzanne Jimenez, chief of staff at SEIU-United Healthcare Workers West, the primary union backing the billionaire tax, decried what she described as an effort by a small number of the state’s wealthiest residents to avoid paying their fair share.

“So far, those few billionaires are failing,” she said in a statement. “Despite the expensive and wasteful tactics by a small group of billionaires that aim to deny voters a choice on the billionaire tax in November, our growing coalition and volunteer base is on track with signature collection and gaining momentum. The public is crystal clear on the fact that keeping ERs and clinics open is more important than billionaires getting more tax breaks.”

California’s budget is notoriously volatile because it is largely dependent on taxes paid by its wealthiest residents. Revenue hinges on capital gains from investments, bonuses to executives and windfalls from new stock offerings, all of which are grossly unpredictable.

The billionaire tax would cost more than 200 of the state’s richest residents about $100 billion if a majority of voters support it on the November ballot.

The proposed tax would retroactively apply to billionaires’ assets as of Jan. 1, and has already prompted some of California’s wealthiest residents to leave the state. It has also created a wedge among Democrats. Some argue that it is necessary to address tax inequities that benefit the rich and harm everyone else. Among the supporters is Sen. Bernie Sanders (I-Vt.), who kicked off the billionaire tax proposal drive in February.

But others, notably Gov. Gavin Newsom, oppose the effort, saying policies that vary by state would drive innovators and businesses outside of California.

March 5 (Asia Today) — South Korea’s major game companies are rolling out more aggressive shareholder return plans, raising dividends and canceling shares as they try to strengthen investor confidence amid uncertainty over new title launches.

The gaming sector often sees sharp swings in earnings depending on whether new releases succeed. Analysts say clearer long-term payout policies can help stabilize market expectations and could support higher valuations if performance improves.

Krafton said it will spend more than 1 trillion won ($675 million) on shareholder returns through 2028, about 44% more than its previous three-year plan of 693 billion won ($468 million).

The company also plans to pay cash dividends totaling 300 billion won ($203 million) over three years, or 100 billion won ($68 million) a year. It said the payout will be structured as a capital reduction dividend for small shareholders, which can reduce tax burdens under Korean rules.

Krafton also said it will buy back more than 700 billion won ($473 million) of its own shares and cancel all of them, a move aimed at improving capital efficiency.

Netmarble said it will pay 71.8 billion won ($48.5 million) in cash dividends, or 876 won per share, roughly equal to about 30% of controlling shareholder net profit. It also plans to cancel 4.7% of shares it already holds.

Netmarble set a longer-term target of lifting its shareholder return ratio to about 40% by 2028.

Mid-sized publishers are also stepping up returns. Com2uS canceled 5.1% of shares it held earlier this year and approved a 14.8 billion won ($10.0 million) cash dividend. The company said five executives, including CEO Nam Jae-kwan, also purchased a combined 13,210 shares.

Neowiz said it plans to return 20% of consolidated operating profit to shareholders under a mid- to long-term policy. Based on 2025 results, that would amount to about 12 billion won ($8.1 million), delivered through a mix of share buybacks, share cancellations and dividends.

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260306010001594