This is what the flux I'm brad, I'm justin and it's Monday, the first of July.
The happy new year to you, just boy, new financial year man now, Josey boy. We all know that times are tongue and more data keeps coming out to support this. Get this stat The number of people struggling to pay electricity bills went up eighteen percent between twenty twenty two and twenty twenty three, according to the age.
Of full ce petrifier twenty on my heating flux. Sa'am, it's the first day of the new financial year, and you know what they say, new financial year, new financial me And because of the success of our fifty percent off deal for flux bro, we've extended it for one more week. No, that means one more week to invest in your financial future at the fty percent of the
regular price. So if you want to invest in your financial future, make sure to hit the link in the show notes to access the limited time deal.
Three responsible stories today, Josey boy, let's do it for our first. A and Z Bank has been given the green light to take over Sun Coop's bank for four point nine billion dollars after nearly two years of battling and appealing.
But now there's a bit of a catch oo, a bit of a deal with the devil for ANZB man. So tell me what's going on here.
Well, we all know ANZ as the big blue bank that has over eight and a half million retail and business customers.
Now take you back to July twenty twenty two. ANZ announced a four point nine billion dollar acquisition of sun Corpse Banking arm.
It was celebrated as the biggest bank acquisition since two thousand and eight.
But Beman, bring out the popcorn, because this is where the drama started. Go on. Okay, well, the champagne was papped. But then the ah triple see the Australian Competition and Consumer Commission was like, hold it right there. This is going a seriously lessen competition in banking.
And then Anzen appealed to the Australian Competition Tribunal and they said this.
Still wouldn't hurt competition, think of that.
But then A and Z still needed approval from the Treasurer, who gave the all clip, but with a few very specific conditions.
Number one, no net job losses across both companies for three years.
Here is number two, no regional anz branches to close for the next three years.
And number three fifteen billion dollars of lending to Queensland for Olympic Games, infrastructure and renewable energy and juzzy Boy.
There are about six other conditions as well, but that Olympic one.
Where did that come from? I know? So Anz's agree to all of these conditions.
Clearly this deal means a lot to A and Z. So what is the key learning here? Big banks will stop at nothing to get their hands on a bigger slice of the home loan pie man. We know that home loans are the most lucrative form of lending their long term up to thirty years.
They're extremely safe for the bank because they're secured by the property itself.
And juzzy Boy, they are squeaky clean products. But at the end of twenty twenty three, ANZID ranked fourth in the homeland market with just thirteen and a half percent of the market.
Just behind NABS fourteen point six percent.
But with Sun Corps fifty two billion dollars worth of mortgages on its books, it would meet ANZI jumps to third place.
Hop that NAB so juzzy Boy.
It's pretty clear now why an Z was willing to move Heaven and Earth and.
Regional branches and even embrace Olympic lending to get this. You'll done for our second story. Nine Entertainment, the owner of Channel nine and major Australian publishers, will make up to two hundred jobs redundant after struggling with weak advertising.
Cuts all across the media industry. Jazzy boy, what's happening with nine?
Well, most people know Nine Entertainment as the owner of Channel nine TV network. It also has a whole lot of other media assets in its portfolio.
We're talking the Age, Sydney Morning Herald, Australian Financial Review, Pedestrians.
As well as streaming platform stan Lee and a majority stake in domain, the real estate search website. But a man nine CEO warned late last week that it will cut up to two hundred jobs across the company.
By my calculations, that's about four percent of the workforce.
So what's the reason for this? Well, firstly, Nine blamed a week ad market, but also the end of a commercial deal with Meta and that deal was understood to be worth around fifteen million bucks for Nine over the past three years. And blah, blah bye it expired last night. Wow.
So for nine the goal is to find thirty million dollars in savings across the business because things are getting taught.
So what is the key learning here? When the going gets tough, the cream of advertising rises to the top.
Nothing quite like blending two common sayings together, Doddie Boy cb MAN.
Much of the advertising on TV and newspapers is to build awareness of a brand.
But it's kind of hard to measure the impact of these campaigns, which.
Is why there's been a broader shift in the market.
Advertisers are moving away from traditional media like TV and radio and.
Shifting towards more digital and targeted platforms. We can actually track results, and nine weren't the only ones to do this, be Man, Nope.
Seven West Media announced it was cutting one hundred and fifty staff members the last week, and NewsCorp announced eighty job carts in June, with more to come. For our third and final story, Fujifilm is struggling to keep up with demand for its cameras as TikTok has made retro cameras trendy.
Again. Did not think it's a struggling and keeping up with demand in the same sentence, b man, So tell us what's going on here?
Well, it's comeback of the century, juzzy boy. Fujifilm is the photography company that was started up ninety years ago in Japan.
It started producing cameras film, but then quickly expanded into the health sector.
We're talking products like glasses, medical imaging, pharmaceuticals, and now beman.
Fuji's photography was thriving in the early two thousands. In fact, it was even overtaking industry leader Kodak in sales.
But then, of course, came smartphones and those classic silver digital cameras you'd take on a night out.
They were completely gone.
But now be man, the tide has turned again, and Fujifilm's got more demand for its old school cameras then it knows what to do with it. It's become popular as a status symbol and even a fashion accessory, so.
Much so that its camera division played the biggest role in the company's record high profit.
YEAP thirty six percent of Fujifilm's operating profit in twenty twenty three came from its camera division.
And this surgeon demand is pretty much all thanks to TikTok. So what is the key learning here? A pinch of nostalgia and a dash of TikTok's algorithm and you can resurrect an entire industry. Big call duzzy boy.
Now, when smartphones came about, camera companies like Fujifilm and Kodak for that matter, they.
Were as good as gone, sayan Nara, but be man. With the infinite amount of images that and be taken on smartphones, the idea of valuing each photo has been completely.
Lost, which is why old school cameras have captured the attention of youngin's on TikTok so, Jazi wait. Companies like Fujifilm, which we're holding onto the photography arm with their business by a thread, as seeing a resurgence of demand.
And the man. Photography isn't the only industry seeing a resurgence thanks to TikTok.
We've seen vinyl records of past CDs as the most popular physical music format.
And even print book sales have been growing by around ten percent year on year after major decline, so josebait.
This gives many almost extinct companies a glimmer of hope they can still make it come.
Back Next up Handkerchiefs coming cool again. Plus am New Financial Year, New Financial Year. Because of the success about fifty percent off deal for flux Pro, we've extended it by one more week. You've got one more week to invest in your financial future at fifty percent off the regular price. To make sure to hit the link in the show notes to access the deal. Thanks for listening and we'll see you on Wednesday.