Theatres were one set of businesses that were hit hardest by pandemic shutdowns, which forced many workers to be cut or furloughed. We check in with the Minneapolis-based Children’s Theatre Company to see how things are going. Today’s Producer Price Index data confirms what other recent inflation data is showing: rising prices aren’t slowing down nearly fast enough. And, a new report from the Congressional Budget Office says that the U.S. could default on its debt as soon as July should Congress fail to agree to raise the debt limit. 

China announced this morning that defense giant Lockheed Martin and a unit of Raytheon would go on a blacklist, which follows similar American moves last week. It’s the latest incident in the Chinese balloon saga that has seen the U.S.-China relationship sour further. The White House’s new standards for electric vehicle chargers could bring about new business opportunities. And, we check in with an egg farmer about how the industry is doing amid its recovery from a severe avian flu outbreak.

From the BBC World Service: Nigeria allows the use of old notes to ease new problems – for now. A plan to replace notes has been beset by problems with a scarcity of cash leading to riots in some cities. Our reporter explains the backdrop and we hear from those affected in Lagos. Plus, one of the world’s biggest chip companies says its intellectual property has been stolen. And, why New Zealand is struggling with a shortage of eggs.

The latest number on consumer spending are out this morning, and they indicate that people are continuing to buy stuff despite economic anxiety and inflation. Susan Schmidt walks us through what that could mean for rising prices. Meanwhile, at the Fed, central bankers are signaling that further interest rate hikes are needed after yesterday’s less-than-great inflation data. The EU is looking into using seized Russian assets to fund the rebuilding of Ukraine. And, the economic point of view from Rockwell Automation, a company that specializes in being a sort of “manufacturer for manufacturers.”

There’s a new race to the moon underway between private firms offering cargo-carrying services. This is just the beginning of a new age of space commercialization, says The Economist’s Tom Standage. The Securities and Exchange Commission is issuing new rules that tighten the window companies have to execute stock trades, which comes in response to the 2021 GameStop trading fiasco. And, natural gas firms, flush with profits, cut back hedging last year. 

From the BBC World Service: The European Union has formed a working group to look at the idea of using seized Russian assets – from central bank reserves to superyachts – to help rebuild Ukraine. Plus, the war in Ukraine contributed to soaring energy prices in Europe. Now a mechanism to limit natural gas prices on the continent has came into effect. We look at how it works and the impact it could have. And finally, why the British Royal Family has chosen not to include an infamous diamond in a coronation crown.

Today’s inflation report showed a slight tapering in rising prices — it was 6.4% compared to 6.5% in December. That’s a marginal improvement, but it’s still much too high for comfort for the Federal Reserve and market watchers who may have been expecting a sharper decrease. The Fed’s Vice Chair, Lael Brainard, has been tapped by President Biden to lead the U.S. Council of Economic Advisers. Some states are moving to expand Medicaid to food-related health services, which would represent a shift from previous programs. And, why colleges may soon begin implementing more programs designed for midcareer professionals. 

This Valentine’s Day, lots of people are going to be out in search of love — in the case of online romance scammers, they’ll be looking for a big payday. We talked with Dina Temple-Raston, host of the cyber-focused podcast “Click Here” about the proliferation of online romance scams and what her conversation with a former scammer revealed. Ford announced it will be cutting its workforce in Europe by more than a tenth, which the company said will allow it to invest more into electric vehicle manufacturing in the U.S. And, online scammers are exploiting the earthquake in Turkey and Syria by creating fake donations accounts. 

From the BBC World Service: Ford is cutting jobs to get over its next big hurdle: transitioning to electric vehicles. 3,800 jobs are going at the car maker, as part of a major restructuring programme in Europe. We find out why. Plus it’s all change at the Bank of Japan, as Kazuo Ueda is nominated to be its new head. And, we talk to an old-fashioned Irish matchmaker on Valentine’s Day.