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☆ The era of cheap cruises is over. Here's how to find the best deal now.
▼ + stars: | 2023-10-21 | by ( Brittany Chang | ) www.businessinsider.com time to read: +5 min

In 2024 cruise fares will continue to increase past 2019 levels. Carnival Corp, for example, says it is "well positioned to drive 2024 pricing higher." AdvertisementAdvertisementSay goodbye to cheap cruises and get ready to dig deeper into your wallets for a 2024 cruise — demand is now driving future cruise fares to pre-COVID-19-pandemic levels. For 2024, pricing across the industry will be up about 8% compared to this year and 20% compared to 2019. AdvertisementAdvertisementThere's still one big culprit: pent-up demandCarnival Corp's CFO David Bernstein says the company is "well positioned to drive 2024 pricing higher."

Persons: —, itineraries, Tynan Smith, Patrick Scholes, David Bernstein, DANIEL SLIM, Josh Weinstein, Scholes, Smith, Brittany Chang Organizations: Carnival Corp, Service, Cruise, Truist Securities, Carnival, Getty Images, Royal Locations: Caribbean, Bahamas, Bermuda, AFP, Royal Caribbean

☆ Carnival's fuel costs overshadow better annual forecast on cruise boom
▼ + stars: | 2023-09-29 | by ( Juveria Tabassum | ) www.reuters.com time to read: +3 min

The Carnival cruise ship Sunrise is seen docked at Miami Port, in Miami, Florida, U.S., June 18, 2022. Unlike other major cruise operators, Carnival does not hedge against volatility in oil prices. The company was "not thinking" about fuel hedging at this point, CFO David Bernstein told Reuters in an interview. Instead, to reduce the fuel burn, Carnival was looking at fuel optimization technologies and enhancing itineraries, Bernstein added. CRUISE DEMAND THRIVESCruise operators have benefited from pent-up travel demand following the pandemic and travelers looking for better vacation deals.

Persons: Marco Bello, Morningstar, Jaime Katz, David Bernstein, Bernstein, Alex Brignall, Joshua Weinstein, Carnival, Juveria Tabassum, Devika Syamnath, Shweta Agarwal Organizations: Miami Port, Rivals, Cruise Lines, Royal, Reuters, Thomson Locations: Miami , Florida, U.S, Royal Caribbean, Atlantic

☆ Carnival trims loss forecast as strong cruise demand cushions fuel hit
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +2 min

The Carnival cruise ship Sunrise is seen docked at Miami Port, in Miami, Florida, U.S., June 18, 2022. Still, its shares fell about 4.7% as Carnival forecast an unfavorable net impact of $130 million in the fourth quarter from higher fuel prices and unfavorable currency exchange rates. Unlike other major cruise operators, Carnival does not hedge against volatility in oil prices. Carnival posted third-quarter profit of $1.07 billion, or 79 cents per share, compared with a loss of $770 million, or 65 cents per share, a year earlier. Its quarterly revenue of $6.9 billion beat estimates of $6.69 billion, according to LSEG data, and also hit a record high.

Persons: Marco Bello, David Bernstein, Alex Brignall, Carnival, Juveria Tabassum, Devika Organizations: Miami Port, Cruise, Cruise Lines, Royal, Thomson Locations: Miami , Florida, U.S, Royal Caribbean, Atlantic

LONDON, Sept 14 (Reuters) - Russia said on Thursday it was expelling two U.S. diplomats whom it accused of working with a Russian national charged with collaborating with a foreign state. "The named people conducted illegal activity, maintaining contact with Russian citizen R. Shonov, accused of 'confidential cooperation' with a foreign state," the Russian statement said. In its statement, the Russian Foreign Ministry said Shonov had been paid to complete tasks aimed at damaging Russia's national security. Relations between Russia and the United States have plunged to their worst point for more than 60 years because of the war in Ukraine. The United States is providing advanced weaponry to Ukraine and has hit Russia with sanctions in response to its invasion in February 2022.

Persons: Lynne Tracy, Jeffrey Sillin, David Bernstein, Shonov, Robert Shonov, Sillin, Bernstein, Tracy, Andrew Heavens Organizations: Foreign Ministry, State Department, U.S . Consulate, United, Russian Foreign Ministry, Thomson Locations: Russia, Russian, U.S, Washington, Vladivostok, Ukraine, United States, Moscow

☆ At Harvard, Affirmative Action Shouldn’t Be Just Black and White - The New York Times
▼ + stars: | 2023-07-07 | by ( Farhad Manjoo | ) www.nytimes.com time to read: +3 min

The other officer cut to the important question — the student’s skin color: “Brown?”“Heck no. doesn’t know what race a person of Middle Eastern descent is, should it really be making decisions based on race? Asian Americans scored better than other groups on academic and extracurricular measures, but Harvard’s admissions officers consistently gave Asians lower “personal” ratings than members of other groups. Harvard’s use of such subjective criteria to curb the number of Asian students admitted smacked of its efforts a century ago to keep out Jewish applicants it deemed unworthy of its “character and fitness” standards. In dissent, the three liberal justices argued persuasively that the court’s ruling might significantly reduce enrollment of Black and Hispanic students at elite colleges.

Persons: Brown, ”, Heck, “, ’, David Bernstein, persuasively, Richard Arum, Mitchell Stevens Organizations: Harvard, Federal, Court, The Times Locations: Asian, Jordan, Iraq, Iran, Egypt, America

June 26 (Reuters) - Cruise operator Carnival (CCL.N) on Monday forecast third-quarter profit largely below estimates as rising marketing and labor costs eat into gains from higher ticket prices and strong demand. The company's shares, which have surged nearly 80% in the past two months on resurgent demand for cruises, dropped 11%. The mid-point of the company's third-quarter adjusted profit per share forecast of 70 cents to 77 cents, was below analysts' average estimate of 76 cents, according to IBES data from Refinitiv. Carnival now expects adjusted annual loss per share between 8 cents and 20 cents, compared with its earlier forecast of a loss per share of 28 cents to 44 cents. Reporting by Juveria Tabassum and Ananya Mariam Rajesh in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: David Bernstein, Michael Erstad, Juveria Tabassum, Ananya Mariam Rajesh, Vinay Dwivedi Organizations: Peers, Cruise Line Holdings, Royal Caribbean Group, Thomson Locations: Bengaluru

June 26 (Reuters) - Carnival (CCL.N) on Monday forecast third-quarter adjusted profit marginally below estimates as the cruise operator battles higher labor and fuel costs while spending more on marketing, sending its shares down about 10%. M Science analyst Michael Erstad said the company's forecast suggests that the robust demand trend would continue, while adding that Monday's share performance, in part, reflected the higher cost outlook. The mid-point of the company's third-quarter adjusted profit per share forecast of 70 cents to 77 cents, was below analysts' average estimate of 76 cents, according to IBES data from Refinitiv. Carnival now expects adjusted annual loss per share between 8 cents and 20 cents, compared with its earlier forecast of a loss per share of 28 cents to 44 cents. Reporting by Juveria Tabassum and Ananya Mariam Rajesh in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Josh Weinstein, David Bernstein, Michael Erstad, Juveria Tabassum, Ananya Mariam Rajesh, Vinay Dwivedi Organizations: Norwegian Cruise Line Holdings, Thomson Locations: Norwegian, Bengaluru

According to Harvard, around 40% of U.S. colleges and universities consider race in some fashion in admissions. The Supreme Court has been upheld such policies, most recently in a 2016 ruling involving a white woman who sued after the University of Texas rejected her. Ruling in favor of the plaintiffs could require the court to overturn its 2016 ruling and earlier decisions. 'DIVERSITY AND INCLUSION'The lawsuits accused UNC of discriminating against white and Asian American applicants and Harvard of discriminating against Asian American applicants. Circuit Court of Appeals found that Harvard's use of race was "meaningful" and not "impermissibly extensive" because it prevented diversity from plummeting.

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