This is what the Flux. I'm Brett and justin ads.
Wednesday, the fourth of December, does it boy, some big news here. Net Wealth, the Wealth Tech platform and our new wonderful overlords here at Flux has seen its funds under administration crack over one hundred billion dollars this week. Now I'm not saying it was the big Flux acquisition that did it, but net Wealth didn't have one hundred billion before we got here, and now we do.
You raise a good point for there, Flux am. As we kick off December, there is absolutely no better time to start looking at that budget for the end of the year. Summer is an expensive time and we have it all covered in the Flux app. Takes us than thirty seconds to connect your accounts and see where you're spending, where you can say, and all your subscriptions in one place. So if you want to kick off December on a high, make sure to download the Flux app and check out the budgeting feature.
Three inspirational stories today Dozy Boy for our first, Telstra will acquire boost Mobile for just under one hundred and forty million dollars as it looks to get its hands on one million new customers. Hey, they alert for Boost founders be man, so tell me more juzziboit. Boost Mobile is a telco brand that was founded back in the year two thousand. Back we didn't sink was dancing away to Bye Bye Bye and Jazi Wait, did you notice
I called them a telco brand idea? That is because they don't actually own their own telco network.
That's all right. When at first launch it sold prepaid phone plans on the Optis network.
And then in twenty thirteen it started selling its prepaid phone plans on the Telstra network.
And since it launched, it's going to over one million prepaid customers.
And Josie wait. Telstra will now acquire boost Mobile for just under one hundred and forty million bucks, making.
Its founders, including former Prime Minister Paul Keating, a bundle of cab.
Doesn't Telstra already have a cheaper telco service with your mates at Belong? Correct?
They do, but unlike Boost, Belong has post paid.
Plans and Telstra wants a slice of Boosts brand their customers and upfront cashiola from prepaid plans.
Seeing so what is the key learning here?
Cost effective prepaid plans are dominating the telco game, and if you're not on board, you're being left without phone reception.
You see, a man. Consumers like prepaid plans because they offer more certainty about how much money you're spending every month.
If you blow your data budget, you lose access as.
Opposed to a chunky chunky bill shock. At the end of the morth.
Boost mobile success proves the point. They've got nearly one million prepaid services in.
Operation, which is much more than belongs five hundred and sixty nine thousand postpaid customers as of June this year.
And does a boid the prepaid trend is growing. In fact, prepaid services grew to nearly thirty nine percent of total plans at the end of June this year, and.
That's up from around thirty four percent six months prior.
And while prepaid plans don't lock in customers for the long hold, they do offer something equally enticing for the provider, and that's upfront cash.
So be man. This ecquisition isn't just about Boost brands or its customers. It's Telstra's first major leap into the booming prepaid market, and with rising cost of pressures, this trend could be here to stay for our second story. Nissen, the global car manufacturer, is on the brink of collapse, with just twelve months to survive unless it gets new sources of funding.
Not the cash Guy, I've become a relic of the past. What a disaster tell me more?
Okay, so be Man.
This in is the Japanese car manufacturer founded back in nineteen thirty three. We'd be talking the makers of the X Trail, the Leaf, the Pathfinder, and the Cashi cash guy and be Man. Back in nineteen ninety nine, Nissen was in a whole lot of strife, but Reno came in and saved Nissan from bankruptcy. They took a forty three percent steak in Nissan and formed a new special partnership. But over the last few years Nissen has copped a
bit of a bet. In twenty eighteen, its former CEO was arrested for misusing company assets, and over the past twelve months, it's global sales has declined by three point eight percent, including a fourteen percent decline in the Chinese market. Because it just can't compete on evs.
So be man. Last month, this then announced plans to cut nine thousand jobs as well as cutting its global production capacity by twenty percent.
But does it boy? Even these cuts may not be enough to help NIS and compete with its rivals, because.
It's believed that Reno is now planning to sell at steak in Nissan.
So now Nissin is on the brink of collapse if it doesn't find a new investor or partner to fund its loss making business.
And be man.
And it's looking for a new collab with Honda and Mitsubishi to work on electric vehicle technologies together and to keep.
It afloat Wow, does it boy? So what is the key learning here? Partnerships in a business can be a very double edged sword. While they can provide stability and growth, over reliance on a single partner can leave a company vulnerable. Reno's exit from this and means they have a sudden gap in ownership stability and.
Also financial support.
But the man. Although Nissin has been burnt by Reno, it is looking for a new and improved.
Partnership By pulling their expertise in electric vehicle technology with the likes of a Honda or Mitsubishi, they could create a new alliance.
And new alliance to share resources and fight against the eb competitors like Tesla and bad And this is.
A bit like the old PayPal and eBay story when they were the best of friends.
But by twenty fifteen, b Man PayPal contributed roughly forty percent.
Of eBay's revenue, and when PayPal was spun off into a separate business, PayPal really thrived, but it left eBay pretty vulnerable, and it seems like eBay still hasn't really recovered. For our third and final story, the largest operator of KFC stores in Australia has seen its net profit plummet over the past six months. Not easy to make juicy profits off eight dollar burgers anymore, juzzy boy, so tell me more, all right, so be man.
Colin's food is an ACEX listed company that operates KFC and Taco Bell restaurants across Australia, across Germany and the Netherlands as well.
In fact, jazy Boy Collins Foods operated nearly forty percent of all KFC stores in Australia.
That is a whole lot of Zingaberger yummy.
But Juzzy Boy Collins Foods has warned that its net profit has tumbled by fifty two percent over the last six.
Months, and be Man Well sales in Australia has dropped ever so slightly, they copped an absolute.
Beating in Europe YEP. Same store sales in Europe were down three point eight percent across KFC and Taco Bell stores and be Man.
With rising wages and energy costs, KFC can't really afford for its sales to slide anymore.
Is that correct, Juzzy boy, Well, what is the key learning here?
As costs of living pressure builds, fast food outlets basically very tricky balance.
On the one hand, fast food outlets want to keep their prices low to continue attracting customers in time of rising costs, but on.
The other hand, they also need to keep up with their own rising costs.
More expensive wages, energy, raw material av a man.
Traditionally, Colin's food strategy has been to increase menu prices by less than the inflation rate.
But last year Colin's Foods increased the price of some of its meals by more than twenty percent.
And even with that increase, they're still seeing these wopen profit drafts.
So Jazi boy, that's part of the reason its share price has fallen more than thirty percent.
It can't quite strike the balance between price and margin. Block Sam with Black Friday, Cyber Monday well and truly behind us. Now, it is now time to look at what the damage was to your bank account. Make sure you check out the Flux Budgeting tool to see how much is expected to come out of your subscriptions this month and get on top of it before a big, big summer. Download the Flux out to check it out and win at money.
Thanks for listening and we'll see you on for Friday