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FUEL HIKE HITS CARNIVAL EARNINGS

CARNIVAL Corp, the world’s largest cruise operator, yesterday posted lower quarterly earnings due to higher fuel costs but said prices for its cruises were rebounding. The Miami-based firm posted net income of $175m (£116m), or 22 cents per share, for the fiscal first quarter, down from $260m, or 33 cents per share, a year earlier.

Revenue for the group, with ships like Ecstasy (pictured) rose to $3.1bn from $2.9bn.