What the Flux

The Treasurer says businesses need to justify price rises for customers n, and he warned against corporate gouging too while customers are suffering from cost-of-living pain.   Klarna, the BNPL giant, has announced a $1.5b loss.. Just as the company boosts its CEO’s pay by 35%.   The hashtag #BoycottHersheys has been spreading on social media over the last week, thanks to a Women’s Day campaign th...

Meta, FKA Facebook, has threatened to remove news from its platform if the government doesn’t revoke or amend the current media bargaining laws.   TikTok will limit daily screen time for teens under the age of 18 as part of a plan to boost the wellbeing of younger users.   Scotts Refrigerated Logistics, one of Australia's largest transport suppliers to Coles and Aldi, has entered voluntary adminis...

Adore Beauty has announced a double-digit drop in revenue even though it’s been trying to become more and more part of its customers’ daily routine.   Snap Inc, owner of Snapchat, is adding an AI feature called “MyAI” to its app in an attempt to grow its 2m premium users.   David Jones has continued its upwards trajectory with its profit from the past six months more than tripling.   ---   Build t...

Bunnings has announced its biggest category expansion in over 20 years as it launches a whole new section for pet products.   ASIC, the corporate watchdog, has taken a super fund to court over greenwashing for the very first time.   Pointsbet, the Aussie-born gambling company, has seen its losses balloon to $178m for the past six months as its investment in the US gets more and more exxxy.   ---  ...

Wendy’s, the American fast food chain, will roll out hundreds of new restaurants in Australia as it plans to grab fast-food market share.   Warner Bros. Discovery announced underwhelming results and not even the success of The Last of Us could save them from a $2 billion USD loss.   Paramount, the owner of Channel 10, has denied that it will look to shut down the network despite its big drop in ma...

The retailer behind The Athlete’s Foot, Glue and Hype DC has seen demand for shoes boom over the past six months because of their target market.   Block, formerly known as Square, has beaten most expectations for its fourth quarter results and Afterpay has been one of its big hits.   YouTube is launching support for multi-language audio tracks, allowing creators to add dubbing to their new and exi...

The owners of Aesop have said they’re willing to put the brand up for sale, or spin it out for a lazy $2.9 billion.   Nine Entertainment’s group profit was squeezed in its latest half-year earnings as its growing revenue couldn’t keep up with its jumping growing costs.   Following its major cyber attack, Medibank Private has started to recover from its major customer loss last year after its major...

Domino’s Pizza’s share price dropped over 25% yesterday after their profit margin was squeezed tighter than a lemon on its last drop.   Wisetech Global, the Aussie logistics software company, has beaten all expectations, after signing major deals and scoring some major acquisitions too.   Coinbase, the major crypto exchange, has had a year from hell after its trading volume collapsed by 50%.   ---...

Qantas has promised that these high airfares are not forever and new competition will force them to drop their prices.   Hasbro, the toy behemoth behind Monopoly and Jenga, announced some not-so-playful earnings and a couple of painful breakups.   TAB has maintained its digital market share for the first time since 2019 - but the macro environment is huurting its business.   ---   Build the financ...

Kmart Group has seen its revenue boom over 20% thanks to a major sales jump in toys, kitchen goods and footwear.   Facebook’s parent company Meta is launching a subscription service called Meta Verified, which gives access to a range of perks - for a pretty penny.   A2 Milk, the Kiwi milk and formula producer, has seen net profits boom due to its re-emergence in China - but it still faces a challe...

The owner of Rebel and Supercheap Auto hit record sales for the six months to December, thanks to big demand for suave sporting apparel and car maintenance products.   The world’s largest food company, Nestlé, says the price of staple items will rise even more this year.   Westpac is kind of freakin’ out because almost half of its home loans were issued using interest rate buffers that were too sm...

Telstra has lifted its profit by 25% thanks to Optus handing over customers on silver platter!   Airbnb is officially bringing home the bacon after its revenue jumped 24% year over year largely due to its wildcard Experiences.   Roblox, the online game platform, has smashed its quarterly earnings because its new games that ain’t just for the kids.   ---   Build the financial wellbeing of your team...

Treasury Wine Estates, the owner of Penfolds and 19 Crimes, has seen net profit boom by over 70%, but its cheaper brands are still a major red flag.   Subway, one of the world’s most well known fast food brands, has confirmed it’s up for sale.   Coca Cola will raise the price of its drinks and is blaming the high costs of its raw materials… yet Pepsi is in a price halt.   ---   Build the financial...

Temple & Webster, the online furniture retailer, has seen a nearly 50% drop in its net profit as customers become value-conscious.   TikTok is looking to put some content behind paywalls in a plan to grow creator revenue and test a new revenue model   Ansell Limited, the medical glove company, saw its profit drop over 17% because it’s got too much rubber in its warehouse.   ---   Build the fin...

JB Hi-Fi has announced a big jump in sales for the past six months and lifted its dividend by a whoppin’ 20%.   Netflix Australia has been giving back money to some Australian advertisers after falling short of audience numbers.   Binance has seen its dominance in the crypto space grow even further after FTX’s big, bad collapse last year.   ---   Build the financial wellbeing of your team with Flu...

Nine Entertainment will broadcast the Summer and Winter Olympics for the next decade, after paying over $300 million to snag the rights from Seven.   Canopy Growth, one of the world’s largest marijuana producers, will close major operations because it says Canada’s marijuana industry is failing due to competition from a thriving black market.   Toyota, the world’s biggest carmaker, posted a surpri...

ANZ Bank is dishing out $50 million for a minority stake in real estate listings business named View Media Group.   Uber has announced a huge bump in fourth quarter earnings and it seems like this inflation-thing ain’t looking too bad for old Ubey.    Disney, under its new-old leadership, has cut 7,000 jobs in a restructuring that is planned to save them $7.9 billion.    ---   Build the financial...

Australia Post has announced its first full-year loss since 2015 and it has pointed its red finger squarely at good old fashioned letters.   Suncorp Group, part lender part insurer, has announced a major jump in profits for the past six months.   BP, the global oil giant, is scaling back its clean energy goals and deepening its investment in oil and gas as its profits soar.   ---   Build the finan...

The world’s largest gold mining company has bid $24 billion for its Australian rival Newcrest.   Alphabet, the parent company of Google, will launch an AI chatbot service to compete with ChatGPT over the next few weeks.   Meta, the company formerly known as Facebook, saw its share price jump over 25% after announcing that 2023 is the “year of efficiency”.   ---   Build the financial wellbeing of y...

The owner of Boost Juice and Betty’s Burgers will sell the majority of its business to a private equity company - and this values the business in the hundreds of millions.   Disney is licensing shows to free-to-air TV networks, like 7 and 9, in Australia because cash is king.   Virgin Australia is on the road to a public listing once again after it’s first full year profit in a decade.   ---   Bui...

Today, we’re having a slice of the much-loved and culturally important global music industry.   ---   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.ly/FluxappGooglePlay Daily newsletter: https://bit.ly/fluxnewsletter Flux on Instagram: http://bit.l...

Today, we’re having a slice of Australia’s media industry... its history, evolution and potentially shaky future.   ---   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.ly/FluxappGooglePlay Daily newsletter: https://bit.ly/fluxnewsletter Flux on Ins...

Today, we’re having a slice of the economics of the FIFA World Cup. How much could Australia's economy generate when we co-host the Women's World Cup in 2023? So many questions, about 5 minutes of time.    ---   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): h...

Today, we’re having a slice of the rapidly growing car subscription market.   ---   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.ly/FluxappGooglePlay Daily newsletter: https://bit.ly/fluxnewsletter Flux on Instagram: http://bit.ly/fluxinsta Flux o...

Today, we’re having a slice of the world famous ChatGPT and of the long-term economic impact of AI.   ---   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.ly/FluxappGooglePlay Daily newsletter: https://bit.ly/fluxnewsletter Flux on Instagram: http:/...