"AMC should now be able to raise additional equity capital," AMC CEO Adam Aron wrote in a letter to investors following the court approval. Investors anticipated a share sale following last month's court approved settlement which allowed the company to convert AMC’s special preferred shares, known as ( APE) units, into AMC common stock. The company said it plans to use the proceeds “to bolster liquidity, to repay, refinance, redeem or repurchase its existing indebtedness,” and general corporate purposes. Businesses across the country reiterated their expectations that wage growth will slow broadly in the near term.ĪMC ( AMC) plans to issues more stock and investors in the former meme-stock trade aren't reacting positively to the news.ĪMC Entertainment stock tanked more than 30% on Wednesday after the cinema chain announced plans to sell up to 40 million shares. Though, many contacts suggested "the second half of the year will be different" when it comes to wage growth. That trend has kept power in the hands of workers and helped boost wages. Most districts reported price growth slowed overall, decelerating faster specifically in manufacturing and consumer-goods sectors.ĭistricts across the country saw subdued job growth, as companies continued to deal with a shortage of skilled workers for open jobs and the pool of job applicants remained limited. 19-20, when officials are expected to take a breather and hold rates steady in the range of 5.25%-5.5% to make sure inflation data continues to show cooling. The Fed will hold its next policy meeting on Sept. In July Fed officials raised interest rates for the 11th time since March 2022 in what may be the first of two rate hikes that officials have penciled in for the remainder of the year. Central bank officials will use this information in two weeks when they meet for their policy meeting. The Beige Book compiles anecdotal evidence across the Fed’s 12 bank districts. The Fed’s Beige Book revealed Wednesday that businesses in several districts struggled during August to pass on costs to consumers, as costs of making goods are growing faster than prices. Yahoo Finance's Jennifer Schonberger reports: Click here for more of Yahoo Finance's coverage from the Goldman Sachs Communacopia + Technology Conference.Fed Beige Book shows slowdown may be comingĪ look at the Federal Reserve's 12 bank districts showed the resilient US economy is showing some cracks. When it comes to the 2024 race, Armstrong thinks crypto could be a "hot topic" in the race for the White House, with Americans holding candidates' feet to the fire to hear their positions on the issue. Armstrong told Sozzi earlier in the interview that it "would certainly help" the industry if Gary Gensler were no longer SEC Chair, which would likely happen if a Republican were to defeat President Joe Biden in 2024. He also suggests there could be a new SEC chair in 2024. Armstrong says there are a few ways the industry to get some clarity, such as through the courts, congress, and the CFTC. One of the issues facing the crypto industry is the lack of regulatory clarity. Armstrong tells Yahoo Finance Executive Editor Brian Sozzi about the company's recently launched Base layer 2 blockchain network and things like flatcoin, which he says Coinbase isn't working on yet, but is interested in. Yahoo Finance Video Coinbase CEO on company's next steps, why crypto will be a 'hot topic' in 2024 WH raceĬoinbase CEO Brian Armstrong (COIN) is shedding a little light on what his company is working on next.
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