What the Flux

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/flux...

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 F...

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/fluxatwor...

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 y...

ANZ is one step closer to acquiring Suncorp for $4.9 billion, after a court overturned the ACCC’s decision to reject the acquisition. Star Entertainment’s shares have dropped 22% after a second inquiry into the Sydney Star Casino. The company behind Rip Curl and Kathmandu has seen its shares hit an all-time low after warm weather has hurts their sales. — Build the financial wellbeing of your team...

Taylor Swift performed her first set of shows in Melbourne over the weekend and not only is she entertaining crowds, but giving a major boost to the economy. Kmart has announced record earnings for the last six months after an increase in earnings of 26% thanks to beauty and apparel. OpenAI is rolling out a new feature that gives ChatGPT the ability to recall details about their users indefinitely...

Temple & Webster has smashed market expectations after announcing a 23% rise in sales for the past 6 months. Breville, the home appliances giant, has seen its sales take a big hit after it stopped discounting its products. BYD, the Chinese electric car maker - and arch rival to Tesla - expects to almost double sales in Australia this year… and bring an electric ute to the market. — Build the f...

JB Hi-Fi has seen its net profit drop by more than 20% but it still excited investors enough to see its share price bounce over 5%. CSL, the blood products giant, saw its market value drop by  more than $7 billion after one of its most exciting trials didn’t quite have the results they were looking for. Seek has seen its share price take a beating after paid ads on the platform dropped 20% in the...

Myer has announced its annual sales hit its highest level since 2005… and more than doubled its profits from pre-COVID. NewsCorp Australia has seen its revenues drop 6% across the past quarter after its advertising revenue copped a big hit. Uber has announced its first ever annual profit, which has pushed its share price to an all-time high. — Build the financial wellbeing of your team with Flux a...

AGL Energy has seen its core net profit quadruple in the past 6 months after jacking up energy prices. Cettire, the ASX-listed luxury goods marketplace, has seen its share price jump nearly 35% after its sales exploded like demand for a Hermes handbag. Disney is investing $1.5 billion USD in Epic Games to build a whole new digital Disney world in the hopes of rebuilding its profitability. — Compet...

PwC Australia has launched a new virtual assistant, called ChatPwC, which is meant to help boost the quality of client work. LVMH, the luxury giant, is making a big push to grow its market share in the luxury watch market with a focus on targeting millennials and Gen Z. Fishbowl, the Australian fast-food chain, has launched its first US store and has plans to hit $100 million in revenue this year....

Atlassian, the Australian software behemoth, saw $5 billion USD wiped from its market value despite hitting major milestones. Tinder and Hinge’s parent company has seen its quarterly revenue grow 10% as more and more people are looking to find love. F1 champion Lewis Hamilton has made a major sporting move, announcing that he’ll be leaving Mercedes and joining Ferrari in 2025. — Build the financia...

Afterpay's owner Block is reportedly cutting more than 1,000 jobs as it looks to streamline its operations across Australia and around the world TikTok will no longer have music from Taylor Swift, BIllie Eilish and Ariana Grande on their platform after a break down with their record label. Elon Musk is looking like he might become $51 billion USD poorer after a judge has voided his enormous pay pa...

Sara Lee, the famous frozen dessert brand, has been saved from administration by the former owners of Darrell Lea The top 20 pharma companies in the world are at risk of losing $180 billion in sales by 2028, according to a new EY report Godfreys, the iconic Aussie vacuum cleaner retailer, has collapsed into administration after nearly 100 years ___ Build the financial wellbeing of your team with F...

The Prime Minister has announced changes to the ‘Stage 3’ tax cuts that will mean thousands of extra bucks for some low and middle income Aussies Domino’s Pizza has seen its share price plummet nearly 30% after its first half net profit is expected to drop Netflix has struck its biggest deal ever for a live sport with its $5 billion USD deal with the WWE — Build the financial wellbeing of your tea...

Canva is getting close to finalising a secondary share sale with a plan to sell off more than $2 billion in shares. Appen, the ASX-listed AI company, has seen its share price tumble by nearly 40% after it lost its major contract with Google. Zip Co. shares jumped 15% on the ASX after announcing it would be returning to profitability for the first time in three years. — Build the financial wellbein...

Kmart is hoping to sell its Anko branded products into major US retail stores as it turns its private label-brand into a real, standalone brand. Reddit, the social media platform, has finalised its long-awaited plans to IPO with a plan to go public in March. Uniqlo is suing Shein for allegedly selling dupes of their viral bag. — Build the financial wellbeing of your team with Flux at Work: https:/...

It's our final podcast for the year. Thank you so much for being with us this year as we shared our thoughts on some of the biggest and juicy business news stories in 2023. We'll be back and better than ever on January 22nd, 2024. Have a great break! _ Zoe Foster Blake has bought back a majority stake in her skincare brand for less than a quarter of the price she sold it for… just two years ago. T...

General Pants, Surfstitch and Ginger & Smart are all in survival mode right now as its parent company loses millions of dollars. Zoom has dropped out of the Nasdaq 100 after battling to maintain its relevance and strong performance in 2023. Sportsbet has suffered a double-digit drop in revenue for the third-quarter compared to last year. — Build the financial wellbeing of your team with Flux a...

The new owner of 7-Eleven Australia expects growth to come NOT from petrol but from merchandising - as it aggressively expands its number of stores here. China's consumer prices fell the fastest in three years in November thanks to a major decline in meat sales Tesla has recalled more than more than 2 million cars after its self-driving car features software still isn't working as planned. — Build...

The ACCC is trying to push a merger between Suncorp Bank and Bendigo Bank to take on the Big 4 in banking. The US Federal Reserve has kept the interest rate on pause for a third straight time and hinted of rate cuts next year. Amazon is launching a new competitor to its own book tracking website. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the...

McDonald’s Australia is facing a Big-Mac sized class action for allegedly forcing staff to work additional hours for free. Hasbro, the toy and gaming maker, has announced 1,100 layoffs after it saw overall revenue decline. Google has lost a major antitrust case against Epic Games that could change the app stores forever. — Build the financial wellbeing of your team with Flux at Work: https://bit.l...

Australia’s two largest oil and gas companies are looking to merge in an $80 billion merger. Afterpay has suffered more than $475 million in bad debts in the last 18 months as the buy- now-pay-later industry becomes more challenging. Google has launched its latest AI model Gemini, which apparently outperforms ChatGPT according to Google. — Build the financial wellbeing of your team with Flux at Wo...

Chemist Warehouse is looking likely to list on the ASX before the end of the year in a reverse listing via one of its suppliers. Australia Post has got the all-clear from the government to end daily letter deliveries - in order to keep it financially viable. Twitch is shutting down its operations in South Korea because of ‘prohibitively expensive’ network fees. — Build the financial wellbeing of y...

Amazon Prime Video has shaken up the broadcasting landscape after locking in the rights to the Cricket World Cup for Australia. Spotify has just announced its third round of cuts of 2023 as it lays off 1,500 employees to reduce costs. Mastercard has launched a new AI shopping tool to help its customers find the best outfit for a wedding.. Or the beach. — Build the financial wellbeing of your team...