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Tag: running

US movie chain AMC warns it is running out of money

October 13, 2020
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| money

An empty AMC movie theatreImage copyright
Reuters

The world’s biggest movie chain has warned it could run out of money by the end of the year, citing a plunge in film-going and delayed movie releases amid the coronavirus pandemic.

Despite reopening the majority of its theatres, AMC Entertainment Holdings said attendance remained down 85% in the US and 74% elsewhere.

AMC says it is looking to raise money.

The warning follows rival Cineworld’s recent decision to temporarily close its cinemas in the US and UK.

AMC, which has previously said it is spending about $100m a month, told investors that it expected its cash to “be largely depleted by the end of 2020 or early 2021”.

The amount of money needed is “material”, the firm added.

“There is a significant risk that these potential sources of liquidity will not be realised or that they will be insufficient to generate the material amounts of additional

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Is the Trump campaign running out of money?

October 7, 2020
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| money

The Trump re-election campaign has slashed television ad spending in key Midwest states, BuzzFeed News reports. President Trump has been absent from local airwaves in Iowa and Ohio, and the campaign has reportedly given up at least $2 million worth of reservations in Michigan and Wisconsin since early September, while also reducing its projected fall TV budget in Minnesota by $5 million.

Because all of those states are so important to the upcoming presidential election, Ohio-based Republican ad maker Nicholas Everhart told BuzzFeed “there’s no reason why [Trump] would not be wanting to be on the air in those states, particularly Ohio,” despite the campaign’s insistence that the retreat is actually a sign of strength. Everhart, and others, believe there are “clearly … some unpleasant financial realities impacting the strategic decisions they are making.”`

The Trump campaign has continued to dismiss such speculation, even as the president’s Democratic challenger, former

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Social Security ‘insurance:’ Company offers product to protect against surplus running out

October 3, 2020
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| insurance

Those approaching retirement can now buy a type of “insurance” to guard against reduced Social Security benefits.

The product — a rider on an annuity — is the first of its kind, but some experts expect similar offerings to follow as worries over the future of the entitlement program grow due to the pandemic.

“The largest unaddressed fear is the Social Security reduction,” said David Duley, founder and CEO of PlanGap, which has received regulatory approval for the new product in 44 states. 

The surplus in the fund that pays out Social Security benefits will be depleted by 2031 — a year earlier than previously forecast — largely due to mass layoffs during the pandemic, according to the Congressional Budget Office. After that, the fund could pay about three-quarters of benefits for retirees, a major hit to the largest source of retirement income for most Americans.

“People are in this

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We’re a Long, Long Way From Running Out of Gold

October 1, 2020
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| business

With the metal hitting a record $2,075 a troy ounce in August, the concern we’re heading toward peak gold has reared its head again. The industry needs to commission 8 million ounces of projects by 2025 to maintain last year’s production levels, consultants Wood Mackenzie wrote in June, requiring some $37 billion of capital investment. Mine production fell last year for the first time in more than a decade. Even the British Broadcasting Corp. has been asking whether we’re at risk of running out.

At the core of the concern is a longstanding trend in the gold mining industry: The percentage of gold in ore reserves is falling, from more than 10 grams per ton in the late 1960s to barely more than 1 gram per ton nowadays. Those concentrations are extraordinarily low — equivalent to grinding up and separating a Statue of Liberty’s-worth of ore to recover a teaspoon

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You have ample savings. So why are you scared of running out of money?

September 29, 2020
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| money

All of us have a history with money. We grow up with too little or too much — or fall under the sway of parents or others who influence our attitude about saving and spending. As we age, money often becomes an indicator of our emotional well-being.

It’s fine to think about money frequently, enjoying its benefits and squeezing value from it. But it’s not healthy to fret about it constantly and let the “I-don’t-have-enough” worry eat away at you. Even some rich people express irrational fear of going penniless. In an honest moment, a financial adviser will admit that chronic worrywarts are high-maintenance clients. They require more hand-holding. What’s worse, they may not listen to reason.

A little empathy goes a long way. Rather than dread these clients, savvy advisers ask gentle questions in an effort to uncover deeper concerns, motivations and memories.

“I wouldn’t say the fear of

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