Axios

Carnival Cruise Line will add a new 180,000-ton ship to its fleet that is expected to set sail in spring 2027, the Miami-based company said Tuesday.

Why it matters: Carnival has rebounded from the pandemic with great demand for cruising, Christine Duffy, president of Carnival Cruise Line, told Axios' Dan Primack at Axios BFD in Miami.

The surprisingly high rate of price increases in January can be traced in part to a continued trend of sticker hikes by some of America's biggest consumer goods companies.

Why it matters: Today's Consumer Price Index figures exceeded expectations and reignited concerns about inflation, triggering a market selloff and ending any holdout hopes for a Fed rate cut in March.

This Valentine's Day, keep an eye out for romance scams, Nathan writes.

• More than 64,000 cases were reported to the FTC in 2023, with losses totaling $1.14 billion.

Threat level: While frequency has fallen, their median loss of $2,000 per victim makes them the costliest of any form of imposter scam, including business or government, the FTC notes.

How it works: The typical romance scammer contacts their target through social media, feigning love and deceiving people into sending money — often in the form of cryptocurrency or gift cards.

The bottom line: "A good rule of thumb: sad stories are usually scam stories," the FTC says.

Here are Nathan's takeaways from key major earnings reports today:

🏨 Marriott International: The hotel giant said it sees growth "normalizing" this year. Investors sent the stock down 5.6% — down from its all-time high last week.

🪀 Hasbro: This is a company in search of answers. The toymaker's full-year revenue fell 15%, and it now it expects all three of its major segments to report sales declines in 2024.

🍔 Restaurant Brands International: Like many of its competitors, the fast-food giant — whose brands include Burger King, Popeyes and Tim Hortons — is experiencing challenges due to the "conflicts in the Middle East."

The price of Valentine's Day chocolates is especially bitter this year, Nathan writes.

State of play: Cocoa futures "have skyrocketed," doubling over the last 12 months, CNN reports.

Between the lines: "Climate issues in West Africa – home to more than 60% of global cocoa production — are damaging crop yields, constraining cocoa supply and causing prices to soar," according to CNN.

• Candymaker Hershey is cutting up to 5% of its workforce as the increased cocoa prices undermine its profitability, Reuters reported.

What they're saying: "Given where cocoa prices are, we will be using every tool in our toolbox, including pricing, as a way to manage the business," Hershey CEO Michele Buck told investors on Thursday.

💭 Nathan's thought bubble: I've been trying to cut down on sugar lately — little did I know that this would amount to a savings plan, too.

The post-pandemic desire for more extends to dining out, with an increasing emphasis on a "full experience," says restaurateur Michelle Bernstein.

Why it matters: At Axios' BFD Miami, Bernstein said that her eateries reflect rising consumer expectations for dining out to be more than just food.

An encouraging run of data in recent months showed inflation receding. But that came to a halt in January.

What's new: The latest Consumer Price Index, out Tuesday, showed still-firm price increases in key areas of the economy. The data fell short of expectations that inflation would slip below 3% for the first time in years.

Investment advisers approached by Axios were well aware of bitcoin's omnipresence this week at VettaFi's Exchange ETF conference in Miami. They also clearly didn't want to talk about it.

Why it matters: Some investment advisers aren't allowed to talk about the world's largest digital asset with their clients, let alone park their money in it.

The Consumer Price Index rose 3.1% in the 12 months through January — a bigger jump than expected —while the monthly gain sped up, the Labor Department said on Tuesday.

Why it matters: While price pressures have moderated overall, getting inflation completely back to normal may be more difficult than economists anticipated.

Venture capital distributions have fallen to lows not seen since the financial crisis.

Why it matters: For venture capital funds and their investors, the anemic IPO market isn't just an annoyance. It's cutting off the industry's circulation.

War is expensive — and, for Israel, the multibillion-dollar bill is coming due.

Why it matters: Israel's financial strength has long been a matter of national pride. Now, its need to fund the war in Gaza has resulted in the country's first-ever credit downgrade.