What the Flux

The world's top economists are debating which alphabetical letter will a post-coronavirus economic recovery look like - with 'V', 'U' and 'W' leading the way. Shares in Mesoblast, an Australian bio-tech company, jumped 80% last week after the company secured stem cell treatment trials in the US for COVID-19. With energy bills expected to rise as Australians spend more time at home, consumer groups...

Downloads for at-home fitness apps are soaring, and Chris Hemsworth's Centr is leading the way, as many Australians are forced to exercise from home. H&M, the Swedish department store, has closed its 49 stores in Australia, with 1300 job loses amid the coronavirus pandemic Australia has a new 'unicorn' (private tech company with a valuation of a $1bn), HR company Safety Culture - after raising...

Airbnb has raised $1 billion from investors to give itself financial comfort as the coronavirus outbreak pauses the entire travel industry. Quibi, a new streaming service built for mobile phones only, launched this week and was downloaded over 300,000 times on launch day, sending it to No. 3 on the App Store. Hostplus, the giant superannuation fund, has changed its terms and conditions to delay me...

Australia’s sole proprietors and startups are leaving co-working providers in droves as the coronavirus effectively freezes the co-working industry. To combat the economic impact of the coronavirus, Spain is introducing an economic policy named Universal Basic Income to help its people survive this period. Google has released COVID-19 ‘Community Mobility Reports’ to provide insights from Google Ma...

The company that owns 13cabs has launched a new delivery service named 13things as the coronavirus hurts the taxi industry. Flight Centre is closing a further 800 stores around the world and is raising $700 million from investors so it can survive post pandemic. SEEK is experiencing a significant fall in job ads as the coronavirus impacts the entire economy. --- Facebook group: http://bit.ly/whatt...

Even as demand for makeup drops because people are working from home, Adore Beauty is enjoying a 60% jump in sales for personal care products such as handwash, moisturisers and soap. Judo Bank, a new Australian bank focused on businesses, has been given $500 million by the government so it can lend to more Aussie businesses. Honda and General Motors, the owner of the Holden brand in Australia, are...

Asahi is buying Australia’s CUB, owner of Carlton Draught and Strongbow, for $16bn. But there is one important condition. Virgin Australia has asked the government for $1.4bn as it struggles to survive following the coronavirus pandemic. Professional services firms like KPMG and MinterEllison are asking employees to take pay cuts in response to the coronavirus. --- Facebook group: http://bit.ly/wh...

Bolt, one of Uber’s main rivals, is pulling out of Australia as demand for ridesharing drops from the coronavirus. Following the coronavirus, China's economy is rebounding, with 95% of factories reopening in March. Transurban, the company that owns toll roads and freeways around Australia, has reported a major drop in revenue because there are so few cars on the road due to the coronavirus. --- Fa...

Wesfarmers, the company that owns Bunnings, Kmart and Officeworks, is selling part of its ownership in Coles to save money ahead of further economic uncertainty. Shares in Hasbro jumped 12% last week, due to an increase in demand for toys and games, following coronavirus lockdowns. ASX Limited, the company that owns the Australian Securities Exchange (ASX), is one of only a few companies that hasn...

To save jobs and keep businesses alive, the government has announced a $130 billion economic stimulus package - the biggest in Australia's history. Despite Twitter’s user numbers increasing since the outbreak of the coronavirus, its advertising sales have dropped as companies reduce marketing. The share price of Ansell jumped 16% yesterday as demand for gloves and protective suits rises due to the...

Myer, Australia’s biggest department store, has closed its stores for four weeks and has stood down 10,000. Woolworths is hiring 20,000 staff to support workers from the retail and airline industries who have lost their jobs during the coronavirus outbreak. Banks are pausing home loan repayments for Aussies impacted by the coronavirus - but it could impact your credit score. --- Web: https://www.f...

Over 1,500 new restaurants have signed up with Deliveroo in the last month, as the coronavirus restricts Australians from eating at restaurants. Superannuation members have lost up to 15% of their super balances since the coronavirus pandemic, as the share market has tumbled. Two of Australia’s biggest sport organisations, the AFL and NRL, are fighting hard to stay alive financially after calling...

Virgin Australia is cutting domestic flights by 90% and is standing down 8,000 employees because of the coronavirus. Swisse Vitamins has increased production of Vitamin C as Aussies get more cautious about their overall health following the spread of the coronavirus. SoftBank, the company with big investments in companies like Uber and TikTok, is threatening to pull the plug on saving WeWork from...

The Australian government has asked Netflix and Stan to reduce data to avoid a broadband overload, as Australians work from home. The farming and pharmacy industries are thriving while many other industries suffer due to the coronavirus and its economic impact. A video-chat app named Houseparty has achieved over 10 million downloads on Android and even more on iPhone, and has become the hit app of...

The Australian dollar dropped to its lowest point since 2003, which is below its value during the global financial crisis. Two of Australia's biggest alcohol companies have said Australia could go dry for three months unless they are included as an essential service under the government's lockdown rules. LVMH, the owner of Louis Vuitton, is ordering 40 million health masks from China to help Franc...

The Australian government is investing $66bn into the Australian economy to save jobs during the coronavirus crisis. Air New Zealand has been 'bailed out' by New Zealand's government because it was running out of money due to the coronavirus pandemic. Meditation apps are offering free mindfulness as social distancing starts to impact mental health. --- - Facebook group: http://bit.ly/whatthefluxgr...

Afterpay shares dropped 33% on Wednesday because investors are concerned the company will struggle in a recession. WhatsApp is introducing a coronavirus information hub in partnership with the World Health Organisation to prevent misinformation and fake news. The NBN is providing more bandwidth to telcos like Telstra and Optus - for free - to help them cope with increased demand as employees work...

Virgin is suspending all international flights and half of its domestic flights for more than 2 months because of the coronavirus. Social distancing is starting to directly impact some of the biggest companies in the world, with McDonalds, Uber and Starbucks all making big changes. Google-owned Verily has launched a website that screens people for COVID-19 by asking about symptoms and then points...

Bite-sized business news. 5 minute breakdown of the top 3 Australian or global business news stories of the day. Tailor made for busy humans. See omnystudio.com/listener for privacy information.

Airbnb is letting its customers cancel their reservations, and get a full refund, as the coronavirus continues to ruin travel plans globally. Coca-Cola Amatil, the owner of the Coke brand in Australia, has warned that the coronavirus is dramatically impacting sales in convenience stores and on-the-go outlets. Coles and Amazon are looking to bring on new workers to keep up with coronavirus demand....

For the first time, the Reserve Bank of Australia is preparing to introduce 'quantitative easing' (printing money to boost the economy) as a result of the coronavirus. The owner of Channel 7, Seven West Media, will be repaid in full if the olympics doesn’t go ahead because of the coronavirus. Crown Resorts, the owner of casinos around the country, is enforcing "social distancing" because of the gr...

The federal government has announced a $17.6 billion coronavirus stimulus package to help boost Australia’s economy. Telstra has told all of its Australian staff to work from home as of today as a precaution against the coronavirus. Teleconference companies, like Zoom and Slack, have surged in demand because of the coronavirus outbreak. --- Facebook group: https://www.facebook.com/groups/whatthefl...

Webjet, the online travel agency, has reported a major rise in near-term cancellations because of the coronavirus. Ramsay Health Care has formed a partnership with Australian Unity insurance that is focused on home health care, such as support for chronic diseases and mental health. The price of oil (and petrol) dropped significantly this week and an oil price war has broken out between Saudi Arab...

Kikki. K, the upmarket stationery company, has collapsed. This week has been the most volatile week in global share markets since the global financial crisis in 2008. We explain why. Amazon has announced a new business line - it will sell its world-first Just Walk Out checkout-less technology to other retailers. --- The content in this podcast reflects the views and opinions of the hosts, and is i...

Facebook is being sued by Australia's privacy watchdog over the Cambridge Analytica data scandal where over 300,000 Australians had their data breached. The CEO of Qantas will forego his salary for 3 months as the coronavirus forces Qantas to cut international flights. Coles is telling its online customers to pick up orders rather than have them delivered because it is struggling to keep up with d...