What the Flux - podcast cover

What the Flux

Bite-sized business news. 5 minute breakdown of the top 3 Australian or global business stories of the day. Tailor made for busy humans. Hosted by Brett Joffe and Justin Joffe, co-founders of Flux.

Episodes

Envato sold for $373M | Ozempic's bulging prices | Will Sony take over Paramount Global?

Envato, the Australian tech company, has been sold for over $370 million, in one of the largest tech exits in Australian history. Novo Nordisk, the pharmaceutical company behind diabetes slash weight loss drug Ozempic, drops price amidst competition. Media giant Paramount Global is in talks with Sony over a potential buyout that could be worth $39 billion…after a failed negotiation with another potential buyer. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxat...

May 07, 20247 min

NAB's billion dollar buyback | Afterpay's owner is under investigation | Is eBay fading into memory?

NAB has reported a nearly 13% drop in earnings, but saves the day with a $1.5 billion share buyback. Block, the owner of Afterpay and Square, is under investigation by US Federal Prosecutors for potentially processing crypto transactions for terrorist groups. eBay has seen its second quarter revenue fall below expectations because people aren’t buying collector’s items on there anymore. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free ap...

May 05, 20247 min

Goodbye to Bonza airlines? | Amazon's secret ad jump | Shein Australia's billion dollar dominance

Bonza, the regional budget airline, has gone into voluntary administration, after its aircrafts were repossessed. Amazon has smashed its revenue goals by 16% after it saw rapid growth in cloud and its ad market. The Australian arm of fast-fashion brand Shein has generated nearly $1 billion in sales and tripled its profits in 2023. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAppStore Download the fr...

May 02, 20247 min

Optus & TPG's marriage of convenience | Alphabet hits $3 trillion USD after major announcement | Crown Resorts slashes 1,000 jobs

TPG and Optus have signed a $1.6 billion deal to share mobile networks and expand their reach across regional Australia. Alphabet, the owner of Google, has announced its first ever dividend to investors after completely beating its forecasts. Crown Resorts will cut nearly 1,000 jobs after a major drop in tourist demand and gaming restrictions. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAppStore Do...

Apr 30, 20247 min

BHP's $60 billion bid | Meta shares down 15% | Google hides Australian revenue

BHP has made a nearly $60 billion bid to acquire a British mining company - to double down on copper and its copper mines. Shares in Meta fell more than 15% after it warned of increased costs related to its big fat AI investment. Google has chosen to not reveal the gross amount it makes from Australia for the first time in seven years. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAppStore Download t...

Apr 28, 20247 min

Inflation remains sticky | Beckham vs Wahlberg in $10m battle | TikTok gets closer to US ban

The Reserve Bank of Australia (RBA) has announced inflation of 3.6% which is higher than expected.. And it means a rate cut in 2024 is looking less and less likely David Beckham is suing Mark Wahlberg for more than $10 million USD after he was allegedly underpaid for an endorsement deal with fitness franchise F45 The US Congress has passed a bill that will could force TikTok to be sold in the US within a year or otherwise be banned altogether — Build the financial wellbeing of your team with Flu...

Apr 25, 20247 min

ABC's generational problem | Amazon's 007 plot | Free-to-air TV vs the TikTok generation

ABC Radio has seen its audience share plummet to the lowest point ever as it struggles to sustain its hero products. Amazon has been selling goods on its competitors e-commerce platforms for years under the alias “Big River Services” to gather intel on its biggest rivals. Free to air TV networks, like Seven and Nine, are worried for their futures as teenagers spend 83% less time in front of TVs and more on their phone. — Build the financial wellbeing of your team with Flux at Work: https://bit.l...

Apr 23, 20247 min

RM Williams has a new customer in mind | LinkedIn's new subscription | Netflix’s best result in years

RM Williams has invested $8 million to expand its focus on a growing women’s category. LinkedIn is testing a new premium subscription for Company Pages to help raise company profiles on the platform. Netflix’s revenue has jumped 15% in the first quarter this year but warned the days of sharing subscriber numbers is all over red rover — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAppStore Download the...

Apr 21, 20247 min

Bonza hits major turbulence | LVMH sales slows down | Crocs and Pringles collab

Bonza, Australia’s fourth largest airline, has hit major turbulence after some major instability from its private equity owner LVMH saw its sales growth slow down to just 2% as its consumers pull back from Louis Vuitton bags and Hennessy cognac. Crocs and Pringles are collaborating on new clogs with an accessory you didn’t know you needed…an ankle holster for your potato chips. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App St...

Apr 18, 20246 min

News Corp Australia's mega re-structure | Apple loses its smartphone dominance | Tesla to cut 14,000 jobs

News Corp Australia is making its biggest company restructure in decades after Meta decided not to renew its News Bargaining deal with Australian publishers. Apple has lost its spot as the top phone maker in the world - in the most recent quarter. Tesla is axing more than 14,000 jobs as demand for electric vehicles slows down. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAppStore Download the free a...

Apr 16, 20247 min

BlueBet and Betr merger | Cettire struggling to woo investors | NextDC's running hot on AI

Two of Australia’s up and coming betting companies, BlueBet and Betr, will merge to compete with the big players in the betting space. Luxury fashion retailer Cettire has struggled to woo investors despite an 88% increase in quarterly sales compared to the previous year. NextDC, Australia’s largest listed developer and operator of data centres, is raising more than $1.3 billion to expand its operations in Australia. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/f...

Apr 14, 20246 min

Ola shuts down immediately in Aus | Tesla's building robotaxis | KPMG’s $38 million exam fine

Ola has announced it will officially shut down its ride sharing services in Australia after 6 years as well as other international markets Tesla has reportedly scrapped its plan to build a lower-cost electric vehicle and is focusing on Robotaxis KPMG Netherlands has been hit with a $38 million fine for widespread exam cheating from 2016-2020 — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAppStore Down...

Apr 11, 20247 min

Qantas' biggest Rewards overhaul in 35 years | Woolworths' global collaboration | Uber Eats copies TikTok

Qantas has announced a major upgrade to its Frequent Flyer rewards points program which will cost it over $120 million. Woolworths is partnering with the UK’s Tesco supermarket chain, and other big supermarket chains around the world, on a new $190m investment fund. Uber Eats is launching TikTok style videos on its app to improve discovery of eateries. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAp...

Apr 09, 20247 min

$1.2B: Sydney Airport doubles earnings | Canva makes more millionaires | Alphabet eyes Hubspot

Sydney Airport’s earnings have more than doubled, as Australia’s biggest airport makes the most of our return to flying - in Australia and globally. Canva has finalised a share sale worth $3.6 billion, making some of its staff overnight millionaires. Google’s parent company Alphabet is reportedly looking to acquire CRM and marketing software platform Hubspot. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly...

Apr 07, 20247 min

Sportsbet's 27% drop | Spotify to raise prices in Aus | Tesla's new $3b car plant in India

The owner of Sportsbet, which is Australia’s biggest sports betting company, has said the company experienced a big 27% decrease in earnings for the last financial year. Spotify is planning to raise its prices AGAIN in key markets, including Australia - and it’s mostly thanks to... audiobooks. Tesla is location scouting for a new car plant in India that could be worth between $2b-$3b USD. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free ...

Apr 04, 20248 min

Thanks China: Treasury Wines to increase prices | Google to destroy incognito data | Adam Neumann to own WeWork..again?

ASX-listed wine maker, Treasury Wines, is likely to increase prices on Penfolds wines, as China finally loosens tariffs on Aussie wine. Google is planning to destroy users’ ‘incognito mode’ browsing data as part of a lawsuit settlement. WeWork’s founder, Adam Neumann, and several partners are looking to buy WeWork out of bankruptcy for more than $766m. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAp...

Apr 02, 20247 min

Armaguard's financial lifeline | Peter Alexander and Smiggle to separate | Spotify tests e-learning

Australia’s big banks and some of the Australia’s biggest retailers have given a financial lifeline to Armaguard to keep the cash transport company alive. The owner of Peter Alexander and Smiggle, Premier Investments, is looking to separate the two retailers from the parent company so they can trade as individual entities. Spotify is testing online-learning courses in its latest content experiment. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download...

Mar 26, 20247 min

Reddit's stock soared 48% | Unilever's ice cream spinoff | Baraja's value = down down

Reddit’s share price launched 48% on its first day as a listed company last week on the New York Stock Exchange. Unilever is melting away its ice cream division and is axing 7,500 jobs in an effort to cut costs big time. Baraja, the $300m Aussie self driving car tech startup, has allegedly had its value written down to zero by its venture capital investors. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/F...

Mar 24, 20247 min

Chemist Warehouse's 30% profit | Gucci's $10B China problem | Hermes' class action suit

Chemist Warehouse has announced a profit increase of nearly 30% in the lead up to its proposed merger with Sigma Healthcare. Gucci’s got a problem, and its name is China - yup, we’re talkin’ a share price drop costing Gucci’s owner $10.5 billion. Luxury brand Hermes is facing a class action suit for alleged antitrust behaviour over the sale of its Birkin bags. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.l...

Mar 21, 20247 min

Uber's $272M settlement | Google in talks with Apple | BHP's 100 job cuts

Uber is paying Aussie taxi drivers $272m in big class action settlement Google is looking to partner up with Apple to licence the Google Gemini AI system for the iPhone BHP is reportedly laying off close to 100 staff members at its mega West Musgrave nickel and copper project in Western Australia. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAppStore Download the free app (Google Play): http://bit.l...

Mar 19, 20247 min

Amazon's secret tool to challenge AusPost | Liquid Death's valuation jump... for water | PwC slashes jobs

Amazon is recruiting a fleet of contractors to grow its delivery network in Australia, and take on Australia Post. Liquid Death, the canned-water brand that helps you “murder your thirst” has just doubled its valuation… because people actually pay for branded H20. PwC Australia will make more than 320 staff and 37 partners redundant over the next nine months as they try to recover from the tax scandal. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Down...

Mar 17, 20247 min

Optus is for sale | Myer's new loyalty strategy | TikTok's big ban in the US

Optus’ owner, Singtel, is looking like to sell the Aussie telco in a multi-multi billion dollar deal. Myer has seen its share pop more than 5% after it managed to stabilise its results… and bring in a new Exec to lead it into the future. TikTok is facing an existential threat as the US House of Representatives has passed a bill to ban app stores from the app. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly...

Mar 14, 20247 min

Google splits away from Meta in Australia | Musk to open up Grok to the world | Pfizer focuses on curing cancer

Google Australia is going to split away from Meta as it looks to renegotiate its media deals under the Media Bargaining Code. Elon Musk has announced that xAI, his ChatGPT rival, will make its chatbot, Grok, open source. Pfizer, the biotech that boomed off the back of COVID, has shifted gears and is now focusing on cures for cancer to grow its revenue. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAp...

Mar 12, 20246 min

Amazon Australia steals market share | Apple faces $2 billion fine | Tigerlily falls into administration...again

Amazon has crossed $3 billion in sales in Australia as it snatches customers from its competitors. Apple has been whacked with a $2B euro fine in Europe for suppressing competition in the music-streaming industry. Tigerlily, one of Australia’s biggest swimwear brands, has fallen into administration for the second time.. In just four years. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAppStore Downlo...

Mar 07, 20246 min

Private health insurance's price jump | Reddit plans to IPO with a twist | Bitcoin's cracks $100k

Private health premiums in Australia are going to rise by the biggest amount in five years on April 1st. Reddit, the social media platform, is planning to IPO this month on the New York Stock Exchange in the first major tech IPO of 2024. Bitcoin’s value has crossed $100,000 Australian dollars, a new all-time high since it peaked in late 2021. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAppStore Dow...

Mar 05, 20247 min

Meta breaks up with Aussie publishers | Life360's shares skyrocket | Bumble's problem with Gen Z

Meta has warned that it won’t renegotiate new Australian media deals as it plans to pull the News tab from its app in Australia. Life360, the ASX-listed family tracking app, has seen its shares skyrocket over 30% as it starts to push ads in the app. Bumble’s love affair with profits has hit a standstill after reporting a $32 million USD net loss in its fourth quarter…and making major cuts to staff. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download...

Mar 03, 20247 min

Harvey Norman's got confidence | Apple ends its electric dream | Disney's Indian collab

Harvey Norman has seen its pre-tax profit drop by more than 45% because Aussies are feeling the pinch of living. Apple has decided to pull the electric-plug on its self-driving electric car project after 10 years in the making. Disney is teaming up with the largest company in India in a major $8.5 billion USD deal. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAppStore Download the free app (Google P...

Feb 29, 20247 min

Kogan's profitable pivot | Adore Beauty gives customers love | Formula 1's new beauty partnership

Kogan.com has seen its net profit triple over the past six months even as it saw its sales decrease. Adore Beauty has seen its revenue increase to over $100 million for the first half of the financial year, after giving its returning customers more love. Formula 1 has signed its first ever beauty brand partnership - with a luxury cosmetics brand. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAppStore...

Feb 27, 20247 min

Medibank's growing pains | Vice Media turns off its website| Nintendo delays the new Switch

Medibank’s share price has been whacked after it failed to achieve its forecasts thanks to slow member growth. Vice Media is laying off hundreds of jobs and is even shutting down its own website vice.com. Nintendo’s shares have dropped almost 9% after the company delayed the release of the next Switch console. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAppStore Download the free app (Google Play):...

Feb 25, 20247 min

Qantas' positive spin on profit drop | Nine haunted by the ad market | Nvidia's chips smash lofty expectations

Qantas has announced a 13% drop in half-year profits, but some are seeing this as a positive sign. Nine Entertainment has seen its profit drop by more than 40% for the first half of FY24 after a “markedly weaker ad market”. Nvidia, the hottest chipmaker in the world, has smashed its lofty expectations in the January quarter and its share price has gone berserk. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit....

Feb 22, 20247 min