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.... Show More

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Optus profits have dropped over 80% due to COVID, bushfires and intense competition. SpaceX has become the first private company to try to send humans to space. TikTok owner ByteDance made $3 billion profit last year - and earned more revenue than YouTube. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly/whatthefluxgroup Facebook page: http://bit.ly/Fluxfacebook Email: hello...
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After consistent losses, David Jones is considering selling its properties, including its flagship stores in Sydney and Melbourne, to reduce debt. Freelancer, the Australian freelancing marketplace, is enjoying an all-time high in user numbers - and believes it will thrive in a crisis. Amazon is in talks to buy Australian-founded self-driving car company Zoox for over $3b. --- Web: https://www.flux.finance/ Instagram: http://bi...
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Afterpay and Ticketek have announced a new partnership in preparation for a post-shutdown events boom. Warner Music, the marketer of music by Katy Perry and Lizzo, is preparing for a $2.7b IPO. The Iconic is moving to 100% recycled delivery satchels to reduce the company's impact on the environment. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly/whatthefluxgroup Facebook ...
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Google’s drone deliveries soar in Australia as online shopping goes nuts during pandemic. Prime Minister Scott Morrison reckons it is time to take the Australian economy out of 'intensive care' with a new $1.5b program. Lion, owner of Tooheys and XXXX Gold, is bringing 'healthy alcohol' brand White Claw to Australia --- Facebook group: http://bit.ly/whatthefluxgroup Facebook page: http://bit.ly/Fluxfacebook Web:...
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Accolade Wines, Australia's second largest wine company, is offering big discounts to bars, pubs and restaurants as they reopen post COVID. The poor ad market has led to the closure of BuzzFeed in Australia, as well as 10 Daily. Alibaba, the Amazon of China, has enjoyed a huge sales surge - but strangely, its shares dropped. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly/...
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Wesfarmers, the owner of Target, has announced it will close up to 75 Target stores and cut 1,300 jobs. Hertz, one of world’s biggest car-rental companies, has filed for bankruptcy with about $29 billion in debt. Magic Leap, the much hyped (but struggling) augmented reality tech company has some raised $350 million despite the pandemic. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http:/...
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The Australian government has rejected an offer from the Queensland government to invest in Virgin Australia. Video conferencing behemoth Zoom is confident that global giants Google and Facebook have “no chance” at catching up to Zoom. Woolworths has participated in an $8 million funding round for a new Aussie startup that builds and launches consumer brands. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta...
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13cabs is entering the food delivery market to take on Uber Eats and Deliveroo. Facebook is taking on Amazon and eBay with its new ‘Shops’ feature - its biggest move into e-commerce yet. Spotify continues to build its podcast empire with the $100m acquisition of the Joe Rogan podcast. --- Email: hello@flux.finance Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly/whatthefluxgrou...
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Disney’s head of streaming is leaving to become CEO of TikTok. Salesforce, Microsoft and Seek invest over $60m in Aussie training platform GO1. SoftBank’s Vision Fund, the world’s biggest tech investor, has reported its largest loss in history - $18 billion! --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly/whatthefluxgroup Facebook page: http://bit.ly/Fluxfacebook Cash burn too...
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Foxtel is set to launch its new streaming service Binge next week. Lululemon sales soar as working from home attire becomes the company's new best friend. Huawei, the Chinese phone maker and telecommunications company, is once again right in the middle of tensions between China and the US. --- Facebook group: http://bit.ly/whatthefluxgroup Cash burn tool: www.flux.finance/cashburn Web: https://www.flux.finance/ Instagram: h...
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Kogan.com, the online retailer, is entering furniture and homewares with the acquisition of the furniture company Matt Blatt. Facebook has acquired Giphy, the animated gif search engine, in a deal worth around $400 million. Bondi Sands, known for its self tanning products, is speaking to potential investors about a full or partial acquisition. --- Cash burn tool: www.flux.finance/cashburn Web: https://www.flux.finance/ Instagra...
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Xero, the cloud accounting giant, has achieved its first full year of profit after 14 years. Facebook and Google should pay around $600 million a year to Australian media companies according to Peter Costello - Chairman of Channel Nine and former federal treasurer. Houseparty, the video chat app, is embracing a new direction: co-watching live video with friends. --- Cash burn tool: https://bit.ly/Fluxcashburn Web: https://www.f...
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Australia’s Atlassian has acquired a startup to become more integrated with the popular messaging app Slack. EY, the professional services firm, has admitted that 20% of its staff do not want to return to the office as the Australian government prepares to kickstart the economy. Restaurant Brands International, the global company that owns Burger King and other fast food chains, believes the fast food industry will look significa...
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Australia’s third airline, Regional Express Holdings (aka REX), is set to capitalise on Virgin Australia's collapse by launching flights between Australia’s capital cities. Australia’s largest retail company, Premier Investments, is pushing for a totally new rent model for landlords - based on a percentage of sales rather than fixed monthly fees. To save his struggling airlines, Richard Branson, the British entrepreneur a...
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Channel Ten is getting ready to launch a new channel later this year with a special focus on the 16-39 year-old age bracket. Shopify, the e-commerce platform, has launched a new consumer-facing app that meshes Instagram and Amazon. A new Aussie start-up named LimePay has built a new version of Afterpay that lets retailers create their own form of buy-now-pay-later. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/...
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After almost two years of dating, TPG and Vodafone have been given the green light to get married (aka merge), - and the wedding is set for July. Nintendo’s annual profit has risen by over 40% - Nintendo’s best numbers in 9 years. Toll Group, the Australian logistics giant, has suffered a second major cyber attack this year. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly/w...
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Amazon's share price fell this week when the company announced it will invest its latest profits into COVID-19 related expenses like worker safety. Despite the fabulous growth of UberEats, Uber's main business is suffering and has had to layoff 14% of its global workforce. Judo Bank, a new Australian bank focused on small businesses, has raised over $200 million at a valuation of more than $1 billion - joining Canva as an...
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Blackmores, the Australian vitamins company, has enjoyed a sales boost as Aussies hoard immunity products like Vitamin C. Telstra is investing in a major cyber security program that will protect its customers from COVID-themed cyber attacks. Electronic Arts, the video game publisher known for FIFA and Apex Legends, has achieved its best sales in 10 years thanks to the global shutdown. --- Facebook group: http://bit.ly/whatthe...
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Qantas is burning through $40 million a week because the majority of its flights are grounded due to the pandemic. Guzman y Gomez, the Australian-born, Mexican-style food chain, has abruptly stopped its high profile overseas expansion plans. Australia is missing out on $4bn of economic activity with every week of social distancing that goes by. --- Facebook group: http://bit.ly/whatthefluxgroup Facebook page: http://bit.ly/Flu...
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Westpac's 70% profit drop = its hardest year in history. AFL, NRL and other top Australian sports could miss out on $200m in broadcasting revenue this year - even if sport competitions recommence. Flight Centre does backflip after being stared down by the consumer watchdog - the ACCC. --- Facebook group: http://bit.ly/whatthefluxgroup Facebook page: http://bit.ly/Fluxfacebook Instagram: http://bit.ly/fluxinsta Web: http...
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