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The Luxe Cruise Company That Bans Kids, Casinos and Fancy Umbrella Drinks—and Is Thriving

By Mark Maurer

Good morning, CFOs. The contrarian cruise operator that doesn't allow kids and umbrella drinks; Elliott pushes for a PepsiCo turnaround with a $4 billion stake; Klarna launches its IPO; and the EU moves forward with a South American trade agreement.

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The passenger cruise ship Viking Vesta arrives at a French Mediterranean port. PHOTO: GERARD BOTTINO/ZUMA PRESS

Viking Holdings is the luxury cruise operator that likes to say no.

A 16-point list details what isn’t allowed on its river and ocean ships, including children, umbrella drinks and casinos. Travelers will find few trips through the Caribbean, a popular destination among other cruise operators. And instead of trying to wow travelers with flashy new features, Viking sticks with its classic designs when rolling out new ships.

Viking executives say the company’s strictness on what its vacations will and will not be helps keep ships full in the face of new competition in the river space and a sea of larger, kid-friendly boats teeming with entertainment and rides.

Guests on Viking ships attend lectures about their trip’s destinations from resident historians and listen to classical music. Rather than pool parties and waterslides, a Viking cruiser steps into quieter pools and snow grottos, small glass-enclosed rooms filled with man-made snow.

“There are very successful floating entertainment palaces,” said Chief Executive Tor Hagen, referring to other cruise operators. “We are really a place where we take grown-ups to interesting places, where they can continue to educate themselves.”

 
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The Day Ahead

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📈 Economic Indicators

The BLS releases the Job Openings and Labor Turnover Survey.

The Federal Reserve releases the beige book for the sixth of eight times this year.

 
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What Else Matters to CFOs

Pepsi recently dropped to fourth place by U.S. sales volume. PHOTO: STEPHANIE AARONSON/WSJ

Activist investor Elliott Investment Management has built a roughly $4 billion stake in PepsiCo and is pushing the beverage and snacks giant to refranchise its bottling business and make other changes to boost its sagging share price.

PepsiCo has been struggling to win back soda drinkers after ceding market share to rivals. Its food business, once an engine of growth for the company, is also under pressure.

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📰 Other headlines

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  • What We Know About America’s Billionaires: 1,135 and Counting
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13%

The percentage by which goods financed from foreign suppliers increased this year through April, compared with the same period in 2024, according to Wells Fargo.

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About Us

The Wall Street Journal's CFO Journal offers corporate leaders and professionals CFO analysis, advice and commentary to make informed decisions. We cover topics including corporate tax, accounting, regulation, capital markets, management and strategy.

Follow us on X @WSJCFO. The WSJ CFO Journal Team comprises reporters Kristin Broughton, Mark Maurer and Jennifer Williams, and Bureau Chief Walden Siew.

You can reach us by replying to any newsletter, or email Walden at walden.siew@wsj.com.

 
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