What the Flux

Global buy-now-pay-later giant Klarna has openly said that its IPO hinges on Brexit and the British government's financial services rules.   The Australian government has said it won’t step in to stop social media influencers in the finance space from spruiking financial advice and crypto.   Plant-based milk company Oatly is going public via IPO - seeking a whopping $13B valuation....

In a landmark ruling, Australia’s Fair Work Commission has decided that Deliveroo riders are employees.   Aldi, Coles and Woolies are among many brands to commit to making all plastic packaging reusable, recyclable or compostable by 2025.   Amazon wants to buy the movie studio behind James Bond to enhance Amazon Prime - and the company could spend $11.5 billion.   ---   S...

The owner of the Sukin vegan skinkear brand is buying ethical retailer Flora & Fauna for around $30 million.   In a first for high-end fashion, Gucci will promote its products and a store-like experience within game maker Roblox’s digital world.   America’s largest pipeline for oil transportation was recently hacked, resulting in the company paying $5 million (USD) ransom...

Cadbury has signed on as Rugby Australia’s new principal sponsor for the Wallabies - replacing Qantas after 30 years.   To take on Netflix and Disney+, the owner of HBO and CNN is exploring a merger with the owner of Animal Planet and The Discovery Channel.   Australia’s Islamic finance market is worth $250 billion - and companies are seeking banking licenses to fill the gap...

Telstra has received the second biggest fine in the history of Australian consumer law – for selling mobile phone plans to Indigenous Australians that left them with major debts.   Aussie wine maker Treasury Wine Estates is pivoting from China to the US market and will start prioritising its Penfolds brand.   SoftBank, the company behind investments in Uber, WeWork and Alibaba, has...

Australia’s delay to reopening international borders could cost the economy up to $40 billion according to leading economists.   Australian sales at Coca-Cola Amatil jumped 8% due to strong demand for Coca-Cola No Sugar and Coke’s energy drink brands.   After a whole lot of fanfare, Tesla has backflipped and consumers can no longer buy Tesla vehicles with bitcoin.   ---...

The government accelerated record spending to help Australia thrive post pandemic in this year’s federal budget.   Carsales is buying a 49% stake in a US car digital marketing company for a monstrous $767 million.   L Brands has given up on trying to find a buyer for Victoria’s Secret - so it is spinning it off to become its own publicly traded company.   ---   Save...

Australian casino owner Star Entertainment wants to merge with its former nemesis Crown Resorts in a $12 billion deal.   The owner of Seven West Media has made an $8 billion offer for materials company Boral - which was quickly rejected.   The owner of TikTok, ByteDance, is expanding its e-commerce focus as it prepares for a potential IPO. See omnystudio.com/listener for privacy informat...

Woolworths has confirmed it will split from its liquor business Endeavour Drinks - the owner of Dan Murphys, BWS and a pokies business.   Clubhouse has launched a version for Android phones, but it could be too late as Facebook and Twitter launch clones.   Sennheiser, the German audio company known for supplying DJs with their pro headphones, is selling its consumer brand.   --- &nb...

The owner of Network Ten will launch a new streaming service named Paramount+ in Australia this August.   UberEats continued to grow in the first 3 months of 2021, while Uber’s rides business continued to struggle.   Estée Lauder has seen skincare sales grow 31% (as makeup sales drop 11%) - suggesting a change in consumer behaviour.   ---   Save money and win cash...

ANZ says the Aussie economy is recovering better than expected after COVID - with its profit for the last six months increasing by 126% to $2.9 billion.   Nestlé is getting into the plant-based milk market to compete with Oatly and Chobani.   Pandora, the world’s biggest jewelry maker, will no longer use mined diamonds, and instead is switching to human-made stones produced...

Rex, Qantas and Virgin are fighting it out in an intense price war, as the three airlines try to attract Aussies back into flying again.   Pfizer generated $4.5 billion in revenue over the first three months of 2021 from its COVID vaccine.   Krispy Kreme has filed to go public via an IPO - meaning the company will return to the stock market for the first time in five years after going pr...

Telstra has received a fine of over $1.5 million for not letting consumers keep their phone numbers when they tried to switch to other mobile networks.   eBay Australia wants to boost sneakers sales - so the company is launching a program to prove the authenticity of shoes sold on its platform.   Aldi Australia is taking their environmental focus to the next level by setting a target of...

Netflix Australia only paid around $550,000 in tax in 2020 despite estimates that it earned $1 billion or more.   The Australian retail giant that owns Smiggle, Peter Alexander and Just Jeans, has finally given in to pressure and will repay JobKeeper subsidies.   Australia’s share market could launch Australia’s first crypto Exchange Traded Fund (ETF) by the end of the year....

Asahi, the Japanese drinks behemoth, is getting into the coffee game with the purchase of Aussie-Kiwi brand Allpress.   Nine Entertainment is rebranding its CarAdvice brand to avoid confusion with CarSales.   Verizon, the multinational telco/media company, is looking for a buyer for its digital media unit, which includes Yahoo and AOL.   ---   Save money and win cash prizes up...

Coles has said it will cut prices to stay competitive with Woolworths as Australia’s two giant supermarket chains fight it out for market share.   Bunnings is buying Beaumont Tiles - Australia’s biggest tile retailer.   Apple has announced sales and profits that were way ahead of expectations as consumers keep upgrading iPhones and buy new Macs.   ---   Save money a...

JB Hi-Fi’s CEO is exiting the company to become the CEO of Premier Investments - the owner of Just Jeans, Peter Alexander and Smiggle.   Spotify has launched a new subscription podcast platform that gives creators the ability to make podcasts exclusively for paid subscribers.   Monopoly maker Hasbro will raise the prices of toys and games to counter a rise in raw material costs. &n...

Aussie beauty brand Frank Body has sold part of its company to a Chinese private equity firm - valuing the company around $100 million.   The Commonwealth Bank’s school program Dollarmites is being ditched by the Queensland government - following both ACT & VIC.   Toyota has bought the self-driving car unit of one of the world’s largest ride-sharing apps, Lyft, for over $...

Bunnings’ home renovation videos are leading millions of viewers to its website and YouTube channel - which is driving online sales.   Blackmores, Australia’s biggest vitamins company, believes the $200 million in ‘daigou’ retail sales that have evaporated since COVID will never come back.   Manchester United’s owners would be willing to sell the club f...

Woolworths is doing an Amazon - the company will launch an online marketplace and will let third parties sell through woolworths.com.au.   Too much stock and slowing sales has impacted Kogan’s performance over the last quarter - and investors have headed for the exits.   Amazon and Nestle have joined forces with several nations in an initiative to save the world’s forests. &n...

Netflix added only 4 million new subscribers in the last 3 months, 2 million less than what it said it would achieve.   The Australian government has ripped up Victoria’s Belt and Road economic agreement with China - because it is contrary to national interest.   TikTok has struck a big deal with ATTN: to create "TikTok for Good” - videos on topics like environmentalism and a...

Target may become an online-only retailer in the future as its ongoing union with Kmart sees its store numbers drop off.   Woolworths is stepping up its focus on data analytics and has spent $223 million to take control of a big Aussie data science company.   The British government and the Bank of England have set up a team to create a digital currency for Britain (ie. a “Britcoin&...

Afterpay is preparing to IPO for a second time - this time in the US - as it strives to raise its profile amongst global investors.   Facebook has announced a range of new audio products - a sign that it’s taking the threat from Clubhouse and others seriously.   Europe’s wealthiest soccer clubs want a better way to monetise their global popularity, so 12 clubs have unveiled a...

Google illegally misled Australian phone users when it continued to collect location data even after users thought they had turned off location tracking.   Apple Music has revealed how much it pays when you stream a song - and they’re paying up to three times as much as Spotify.   Citibank is leaving the Australian market after 36 years and will sell its consumer banking division....

Zip is planning a big move into cryptocurrency and stock trading - as it expands beyond just buy now pay later.   Telstra held talks with a Hong-Kong based private equity firm about merging its international division.   As part of the Adidas’ sustainability focus, the company has announced new shoes that will be made from mushroom leather.   ---   Save money and win cash...