Cinema theatres stay vacant, AMC’s takings drops more than 90%. | Kalkine Market Update AUS |

  • November 03, 2020 08:58 PM AEDT
  • Team Kalkine
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Cinema Theatres Stay Vacant, AMC’s Takings Drops More Than 90% The showbiz giant AMC Entertainment has been facing massive monetary hardship for the past several months and the future too remains unclear in case the Company is unable to find new ways to churn out money. The NYSE-listed company had registered revenue of $1,316.8 million in 2019 September quarter while it plummeted to $119.5 million in the year 2020 during the same tenure.

* Confidence Mounts Up Again In Advance Of RBA Rate Cut The Reserve Bank of Australia shall be conducting its meeting on 3 November and it is anticipated that it might slash the cash rate again. While the decrease is expected to be a modest one, it could boost people’s confidence even more. Consumer confidence is an indicator to future household expenditure. Ahead of today’s meeting, the ANZ-Roy Morgan consumer confidence index soared for a ninth straight week, gaining 0.2% to reach 99.9 points, the highest level since March when the Covid-19 pandemic had hit the economy.  

* Aldi Supermarket Says To Customers 'Stay Away' For Special Buys In The Festive Season Ahead of the festive season, supermarket Aldi has warned the customers to stay prepared for not getting access to special buys on the occasion of festivals. The reason for the obstacle is being cited as issues with the supply chain due to industrial action at botany port Australia in Sydney and other container terminals.

 


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