What the Flux

What the Flux

Bite-sized business news. 5 minute breakdown of the top 3 Australian or global business stories of the day. Tailor made for busy humans. Hosted by Brett Joffe and Justin Joffe, co-founders of Flux.

Episodes

June 30, 2022 5 min

Apple and Google Android users in Australia are suing the tech companies in a class action, claiming their app store practices led to higher prices for consumers.

 

Liontown Resources, Aussie lithium miner, has announced a whopping deal to supply Ford with a crucial electric vehicle battery material.

 

Nike has announced results that were better than expected by pro investors, which just goes to show its big strategy shift is worki...

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Aussie neobank Volt, which had raised tens of millions of dollars, is shutting up shop and returning deposits to customers after failing to raise funds to continue operating.

 

Shares in ASX-listed biotech company Imugene rocketed 45% earlier this week, after it announced trial results for a new cancer treatment.

 

The CEO and Founder of Pinterest has stepped down, handing over the reins to a Google commerce executive - and the Pin...

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Crypto exchange FTX is reportedly exploring a deal to acquire share trading behemoth Robinhood.

 

BWX, the Aussie beauty and wellness company, has raised $23 million in equity to pay down its debts - and its share price has been whacked 38% for doing so.

 

Netflix is planning to increase its investment in Asia after a shock first-quarter slowdown in subscriber growth.

 

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Suncorp Group is reportedly looking to bid farewell to its banking unit so that it can focus more on its insurance arm.

 

Zendesk has agreed to sell itself for $10.2 billion in cash - only months after it declined a $17 billion offer.

 

Carsales is looking to raise $1.2 billion from shareholders so it can buy 100% of an American commercial truck listing business.

 

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The Sun Cable solar project in Northern Territory - aka the world’s largest renewable energy system - has officially been deemed “investment ready."

 

Juul, the e-cigarette maker, has been banned from selling its products in the US.

 

Woolies aims to show new grocery delivery startups who is boss after launching a new app that promises groceries delivered within an hour.

 

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Voly, the Aussie grocery delivery startup, has had to cut staff, shut warehouses and can its 15-minute delivery promise - as the industry takes a bit of a turn.

 

Kellogg’s is going to split itself into three publicly listed companies: snacks, cereal and plant-based meat.

 

IKEA is rolling out a new AI-driven interactive design experience where customers can design and visualise their own living spaces - from their smartphones.

 

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Humm, the consumer loans slash buy now pay later company, has seen 5 of its directors step down from the board after a deal to sell the biz to Latitude Financial fell through.

 

Naomi Osaka, the four-time Grand Slam champion, is launching a new media company with the aim of crossing cultural barriers.

 

Microsoft is going to stop selling technology that guesses someone’s emotions based on their facial image… to get ahead of lawmake...

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Aussie t-shirt maker Threadheads has broken equity crowdfunding history, so now they can print more “Get on the beers” tshirts.

 

An Australian app that aims to diagnose covid by listening to the sound of a cough has failed its final test before its potential takeover by Pfizer.

 

Crypto lending platform Solend has seen its community vote against enabling the platform to take over a major user's account. 

 

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Qantas and Airbus have announced they will invest nearly $300m in Australia’s sustainable aviation fuel industry to speed up their goal of lowering carbon emissions.

 

Telegram, the instant messaging app, has topped 700 million active users, and is rolling out a premium version so it can finally start monetising.

 

Amazon is slamming the brakes on its expansion plans after facing the most difficult financial period it has ever face...

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Lego is investing US$1 billion in a new factory to keep up with growing demand - and these days, it ain’t just from kids.

 

Australian grocery products have decreased in size without changing their price tag, according to a new report.

 

The US Federal Reserve has hiked interest rates over there by 0.75% - the biggest increase since 1994.

 

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We’ve just experienced a historic moment in Australia’s National Electricity Market with the the Aussie energy regulator suspending the National Electricity Market for the first time in history to stabilise the grid.

 

A sneaky leaked memo has revealed Meta wants to change Facebook’s algorithm to look a little more like TikTok’s.

 

Apple has bought the exclusive rights to broadcast Major League Soccer in a monstrous deal rumoured t...

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ANZ Bank is considering acquiring accounting software company MYOB to boost its offering to existing and new small business customers - and this could really spice things up.

 

Volkswagen could sell more electric cars than Tesla in 2024, according to a new report, as the battle to be the EV leader heats up.

 

Celsius Network, one of the biggest crypto lenders, has paused withdrawals, swaps and transfers between accounts - as crypto...

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PointsBet, the Aussie-born online betting company, has rejected a $220 million+ takeover offer from News Corp, which wants to enter the gaming industry in Australia.

 

Bitcoin prices have have hit an 18-month low, dipping under US$25,000 for the first time since December 2020.

 

The ASX200 saw $116 billion of value wiped off the index yesterday - and it has officially entered 'correction territory'.

 

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After a rocky few years, Virgin Australia has announced its return to profitability… and is now considering listing on the ASX as early as next year.

 

Microsoft is partnering with Samsung to launch Xbox on Samsung Smart TVs without an Xbox console.

 

Campbell’s Soup has posted its latest earnings, and it has cooked up a 7% sales growth in the last 3 months.

 

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Spotify reckons it’ll crack $100 billion in revenue annually in the next 10 years.

 

BuzzFeed’s stock has lost more than a third of its value - after the company’s pre-IPO lockup agreement expired.

 

Revlon might put its Aussie subsidiary up for sale as it tries to find ways to pay down its debts and stay alive.

 

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Aussie crypto exchange Swyftx and share trading platform Superhero have announced a surprise merger.

 

The EU just approved a law that requires phone manufacturers to use the same charging port in all devices.

 

Uber is going green by spending $26 million over the next three years cutting fees for drivers that use electric vehicles, in an attempt to increase uptake.

 

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The Reserve Bank of Australia has announced its second rate rise in 2 months, raising the interest rate by 0.5% - in an attempt to slow down inflation.

 

Swoop Aero, an Aussie drone-powered logistics startup, has turned down a $100 million takeover offer - and instead, has raised $18 million of private cash.

 

Apple has hit 'show-off' mode at the its Worldwide Developers Conference, unveiling a tonne of new features and pro...

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Twitter Australia reported losses of $2 million in 2021 thanks to rising sales and marketing expenses (and it led to a pretty low tax bill).

 

Apple has partnered with payments rival Block on its ’s Tap To Pay feature, which turns iPhones into payment terminals, and will let Apple’s payment terminal become available to Square sellers.

 

The ACCC has warned airports and airlines to play nice with commercial negotiations, and is plan...

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Realestate.com.au’s parent company REA Group has said it wants to own ALL elements of the property experience, and reckons there are more acquisitions on the horizon.

 

Deutsche Bank, Germany’s biggest bank, is under investigation over allegations that one of its divisions engaged in greenwashing.

 

The EU has banned Russian oil and now it’s also planning to ban insuring Russian oil ships.

 

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Lithium shares have been through a massive sell-off on the ASX, after a report came out saying road transport ain’t on track for carbon neutrality by 2050.

 

An ex-employee of NFT platform OpenSea has been arrested and charged with insider trading of NFTs - and this is the very first charge of insider trading for NFTs.

 

Canva investor Franklin Templeton has once again cut the value of its investment in the Aussie tech unicorn, bri...

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