Australia’s most recent lockdowns are throwing another round of cancellations to live entertainment shows
The US producers and Australian management team of Magic Mike Live have announced the decision to cancel the remainder of the Aussie tour.
In a statement to Ticker News, the organisers stated that the decision to close the tour was made due to the impact of the ongoing COVID-19 restrictions imposed by the Victorian Government and the lack of certainty surrounding the tour’s ability to perform any of its announced dates.
“The team is committed to returning to Australia in the future and the producing team is working to provide the cast and crew with employment opportunities on other Magic Mike Live productions around the world. “
Magic Mike Live has been forced to suspend performances on four different occasions in Australia following government-imposed lockdowns.
Lockdowns forced the cancellation of opening nights in Sydney and Melbourne and government restrictions required most performance dates to be played at severely limited capacity.
The most recent lockdown has been the longest yet and there is no clear roadmap for the resumption of live events
“Everyone at Magic Mike Live is heartbroken to have to make this decision but we were left with no choice,”
said Executive Producer Vincent Marini.
“The producers have provided millions of dollars in funding to support the production during the various closures to preserve the tour for our amazing Australian fans. In every other market, we have been able to reopen the shows because of close partnerships between the producers, the management teams, and the various local and national governments. While the producers provided more funding and support to the Australian production than any other production in the world, we were forced to go it alone in Australia despite enduring four lockdowns and millions of dollars in refunds and cancellations. There is no way for us to sustain a show when we are not permitted to perform.”
The entertainment industry rebounds overseas
Magic Mike Live is currently playing to sold-out audiences in London’s West End.
The Las Vegas and Berlin productions are reopening on August 27 and September 9 respectively and the Magic Mike Live team is currently shooting a new unscripted series with HBO Max titled “Finding Magic Mike” which premieres in December.
Safety is our top priority at #MagicMikeLive! Our cast and crew are vaccinated & per local legislation, our guests must wear masks. Guests also need to be fully vaccinated OR have proof of a negative COVID test within 72 hrs of attending a show. More info: https://t.co/q6u7nE2JIjpic.twitter.com/0ymcpFJD5j
COVID safe protocols at every event – but it isn’t enough to save the Aussie shows
All the productions around the world have industry leading, COVID-19-safe performance environments and are more dedicated than ever to providing patrons with a one-of-a-kind, joyous entertainment experience.
The Australian cancellations include the remainder of the Melbourne season, plus the Brisbane, Perth and Adelaide seasons which were scheduled to open in November 2021 and mid / late 2022 respectively. The producing team is simply not comfortable selling tickets to performances it may never be allowed to play.
Organisers have promised that guests with tickets for the remainder of the Australian tour will receive full refunds.
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.
Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.
All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.
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In Short:
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
The Dow Jones Industrial Average increased by 569 points or 1.2% on Tuesday, reflecting investor optimism for an upcoming Federal Reserve interest rate cut. The S&P 500 and Nasdaq Composite also posted gains, up 0.8% and 0.4% respectively. This represented a recovery from earlier losses, where the S&P 500 briefly fell by 0.7%.
Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.
Tech Sector
Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.
Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.
But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.
Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.
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