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
Lush’s big breakup with Westfield
Welcome to What the Flux Unpacked! Where we go deeper into the juiciest business story of the week. Today, we’re unpacking Lush Cosmetics - the bath bomb maker cutting ties with Australia’s largest shopping landlord. We delve into why a brand that relies so much on in-person presence... is pulling itself from sme of the biggest shopping centres in Australia. ____ Download t
Virgin hikes fares again | Japan’s beer giants under investigation | Domino’s leadership shake-up
Virgin Australia is hiking airfares as fuel prices surge… yet again. Four Japanese beer makers…Asahi, Suntory, Kirin and Sapporo… are being investigated for allegedly taking part in a price-fixing cartel. Domino's Enterprises has fired its Australia-New Zealand CEO after less than a year in the top job. _ Download the free app (App Store): http://bit.ly/FluxAppStore Download t
Coles brings in the robots | Adidas takes White Fox to court | SpaceX's $40B chip deal
Coles is reportedly in talks to bring robots into one of its supermarkets… to turning part of the store into a mini warehouse. Adidas is taking Aussie fashion label White Fox to court, claiming its four-stripe trackies are a little too close to the famous three. SpaceX is reportedly lining up a $40 billion loan to buy Nvidia chips… and the chips themselves could be the collateral. _
Firmus goes big with IPO | Marley Spoon’s Ozempic turnaround | Barbie's hefty price tag plus a special guest interview with Andrew Canobi
Firmus, the Aussie AI factory builder, has put a near $44 billion price tag on its IPO…which would make it the second-largest IPO in Australian history. Marley Spoon, the meal kit company, has seen a major turnaround in sales after selling new meal kits for people on Ozempic. Mattel, the toy maker of Barbie and Hot Wheels, has received takeover interest from a buyer…which could value
ATO reveals biggest tax avoiders | Getty Images kicked off NYSE | Australia kills credit card surcharges
The ATO has revealed that more than a quarter of Australia's biggest companies paid zero income tax in FY25. Getty Images, the company behind basically every stock photo of people shaking hands in an office, is being kicked off the New York Stock Exchange. The credit card surcharge is officially dead as of yesterday in Australia, but experts reckon that sneaky surcharges might just pop back up som
RBA pushes rates to 15-year high | Cochlear hit with shareholder class action | AI-agent Instinct quadruples value in 1 month
The RBA has hiked rates for the fourth time this year, pushing the cash rate to 4.60%, its highest level since 2011. Cochlear, the Aussie hearing implant maker, has been hit with a shareholder class action five months after its share price fell off a cliff. Instinct, the AI assistant that does your life admin for you, has quadrupled its valuation to $10 billion in a month… and it doesn't ev
Myer’s world of pain | OpenAI's rogue agent hacks Medicare | Qantas and Virgin Australia have a new competitor
Myer is hoping Santa can pull its sleigh out of the red, after it made a near-$300 million loss. An OpenAI agent has hacked into a Medicare data portal… and the government didn't find out for three months. Vietjet has registered its first Aussie-plated plane and now there’s rumours that Qantas and Virgin could soon have a third wheel on the Golden Triangle. _ Want to learn how to go f
David Jones loses its luxury brands | Meta's shares boom after its AI agent | Mbappé dumps Nike for On
David Jones is losing its luxury glow-up, with Gucci, Dior and Chanel shoes all walking out the door over unpaid bills. Meta's share price jumped 11% in a single day, which is its biggest pop since early 2025 after its new AI agent hit No. 1 on the US App Store. Kylian Mbappé has dumped Nike after 20 years to become the face of On, the Swiss sneaker brand that's coming for football's bigges
Stan locks in the Premier League | Miro sells at a steep discount | Zurich bets on hands-free Teslas
Nine Entertainment has doubled down on the English Premier League until 2034 for its streaming platform Stan as it goes harder on live sport. Miro, the digital sticky-note platform, has agreed to sell itself to Bending Spoons for just over $1.3 billion enterprise value… or less than 90% of its previous value. Insurance company Zurich is offering Australian Tesla owners discounts… if
Woolworths squeezes suppliers (again) | Big Bash opens up to investors | Anthropic wants AI to slow down
Woolworths is allegedly telling suppliers it’ll wipe their products from supermarket shelves… if they don’t agree to lower their prices. Cricket Australia has announced plans to open up the Big Bash League to private investors that will turn the league into a “billion dollar opportunity”. Anthropic's CEO has asked the AI industry to slow down in its “reckless&r
Xero apologises to accountants | Apple releases its most expensive iPhone | Firmus's deal with the Devil | ETF insights with BlackRock
Xero has apologised to accountants after it paid a small business influencer to promote Xero…and replace accountants altogether with AI. Apple has just launched its latest iPhone called the “iPhone Duo” and it's already Apple's most expensive iPhone ever. Firmus, the Australian AI data centre company has announced a six-year deal to sponsor the Tasmanian Devils AFL team. _ Want
ATO hits Big Tech haaard | Nike cut from the S&P 100 | Volkswagen to cut 50,000 jobs
The Australian Tax Office has ruled that Amazon, Google, Netflix and other tech giants need to pay extra tax in Australia…and this could cost them billions of dollars every year. Nike has been dropped from the S&P 100… after losing around 76% of its market cap.. Volkswagen's board has signed off on 50,000 job cuts and halving its car models over the next 9 years. _ Want to learn
Farming's Long-Awaited Tech Glow-Up
In this series, Going Deep, we'll be doing bite-sized explorations into the most interesting industries, businesses and economic events… in Australia and around the world. For today's episode, we're looking at AI… but not the version you're probably thinking of. We’re looking at the version that actually keeps the world fed. In particular, how a New Zealand startup built a
The Gym Industry's Cutting Season
In this series, Going Deep, we'll be doing bite-sized explorations into the most interesting industries, businesses and economic events, in Australia and around the world. For today's episode, we're looking at Australia's gym economy - one of the biggest and most surprising fitness markets on the planet. In particular, how a single Paddington studio grew into a billion-dollar global franchise, the
The Festival Economy Is Broken
In this series, Going Deep, we’ll be doing bite-sized explorations into the most interesting industries, businesses and economic events in Australia - and around the world. For today's episode, we're deeping the decline of the Aussie music festival. This was a scene that once gave us Big Day Out, Soundwave and Splendour in the Grass… but no more. In this episode, we're looking a
How ABC Fumbled Bluey's Billions
In this series, Going Deep, we’ll be doing bite-sized explorations into the most interesting industries, businesses and economic events… in Australia and around the world. For today's episode, we’re looking at one of the biggest missed opportunities in Australian media history. Australia has produced some of the world's most beloved content - from TV shows to digital platforms&h
Aussie Supermarkets: The Discount That Never Was
In this series, Going Deep, we're pulling back the curtain on the industries that shape everyday life in Australia. We've watched Woolworths and Coles pocket billions in profit during a cost-of-living crisis, seen a CEO walk out of a live TV interview rather than answer questions, and watched a Federal Court judge rule that hundreds of "discounts" at the checkout were never real in the first place
The NBN debacle
In this series, Going Deep, we'll be doing bite-sized explorations into the most interesting industries, businesses and economic events in Australia and around the world. For today's episode, we're looking at the NBN - Australia's national broadband network. In particular, how a $43 billion promise to give every Australian world-class internet became a $57 billion lesson in what happens when you o
AI Stole Hollywood's Creativity
In this series, Going Deep, we'll be doing bite-sized explorations into the most interesting industries, businesses and economic events… in Australia and around the world. For today's episode, we're diving into the war between artificial intelligence and the entertainment industry. AI can now clone a voice in seconds and put a dead actor back on screen. But the question is whether AI can ac
Diamonds Aren't Forever
In this series, Going Deep, we'll be doing bite-sized explorations into the most interesting industries, businesses, and economic events - in Australia and around the world. For today's episode, we're looking at the decline and collapse of the global diamond industry.We've seen De Beers rack up billions in losses… and lab-grown diamonds take over half the engagement ring market. In this epi
The Business of Babies
In this series, Going Deep, we'll be doing bite-sized explorations into the most interesting industries, businesses and economic events… in Australia and around the world. For today's episode, we’ll be diving into the business of IVF. Birth rates are hitting record lows, people are having kids later than ever and a $730 million Australian industry has built itself on that gap. But at
Betting on Being Right: The Growth of Global Prediction Markets
In this series, Going Deep, we do bite-sized explorations into the most interesting industries, businesses, and economic trends… in Australia and around the world. For today's episode, we're looking at one of the fastest-growing corners of global finance that most Australians have never heard of - prediction markets. This isn’t a bet on an AFL game.. Or a punt on the Melbourne C
The Wave of Women's Sport
In this series, Going Deep, we're looking at the rise of the Aussie female athlete economy.We've seen the Matildas become Australia's most valuable sporting brand, women's cricket break viewership records, and the NRL salary cap nearly triple in three years.In this episode, we'll explore how one World Cup semi-final changed the commercial conversation forever - and whether the money is actually re
In Conversation with Matt Heine, CEO of Netwealth
Today on What the Flux: In Conversation, we’re excited to be joined by Matt Heine, CEO and Managing Director of Netwealth…and Flux’s relatively new corporate overlord.For those who don’t know, Netwealth is one of Australia’s fastest-growing wealth management and fintech companies - having grown its share price over 450% since its IPO in 2017.Matt has been working at
Australia's $3 Billion Wine Hangover
In this series, Going Deep, we'll be doing bite-sized explorations into the most interesting industries, businesses and economic events… in Australia and around the world. For today's episode, we're diving into the Aussie wine crash… a $3 billion export industry that lost its biggest customer overnight and then spent three years drowning in unsold bottles….and what it actually
The Injection Reshaping Business
In this series, Going Deep, we’ll be doing bite-sized explorations into the most interesting industries, businesses and economic events… in Australia and around the world. For today's episode, we're diving into the weight loss drug economy - a $58 billion industry built on injections that hack your hunger signal. We've seen food companies scramble to reformulate their products, airlin
In Conversation with Janey Martino, CEO of KIC and Co-founder of Smiling Mind
We're back with our new 'In Conversation' series where we'll be bringing you insights from some of Australia's best and brightest leaders.Today, we're excited to welcome Janey Martino to What the Flux: In Conversation. Janey is a serial founder who has built and exited businesses across media, fintech, and wellness.She’s founded two businesses that were acquired, co-founded mindfulness app S
The Death of the Department Store
In this series, Going Deep, we’ll be doing bite-sized explorations into the most interesting industries, businesses and economic events… in Australia and around the world For today's episode, we’re looking at the decline of Australian retail over the past decade. We’ve seen David Jones struggle, Mosaic Brands collapse and Myer worth a fraction of its previous value. In thi
In Conversation with Grant Hackett, Australian Olympian and CEO of Generation Development Group
Today we're kicking off our new 'In Conversation' series where we'll be bringing you insights from some of Australia's best and brightest leaders.In our very first episode, we'll be chatting with Grant Hackett OAM, CEO of Generation Development Group and 3 x Olympic Gold Medallist. You may know Grant Hackett for being unbeaten in the 1500 metre race from 1996 to 2007. What you might not know
Domain vs Realestate.com.au court battle | Xero goes full AI-mode | StubHub faces World Cup backlash
Domain has taken Realestate.com.au’s owner to court over misleading claims… and there’s billions on the line. Xero has gone an an AI-rampage as it signs a new AI deal with Microsoft Co-Pilot… which is its third big AI deal. US Ticket reseller StubHub… is being sued by World Cup fans who paid big money for tickets that never showed up. _ Want to lean how to go from
KFC has a chicken problem | Amazon overcharged 1 million Aussies according to ACCC| Ticketek's backstage bloodbath plus a special guest
The company behind KFC stores in Australia has posted record sales for the last fiscal year but their focus is on preventing bird flu from hitting their supply chain. Amazon Australia is being sued by the ACCC… for allegedly sneaking ads onto its streaming platform and then charging customers to remove them. The owner of Ticketek has started a major restructure and job-cut after it scramble
Coles and Woolies face world-first laws | NRL overtakes AFL's broadcast deal | Apple jacks up prices
Coles and Woolies are in the firing line after Australia has just announced world-first supermarket price gouging laws The NRL has just locked in the biggest broadcast rights deal in Australian sports history… which makes rugby league more valuable than AFL for the first time. Apple has hiked the price of its Macs, iPads and other Apple products because AI is eating the world's memory suppl
Qantas cuts routes | Judo Bank falls 40% after bad debts rise | Meta gets into gambling
Qantas and smaller sibling Jetstar are axing flight routes across Australia…and Australians in regional centres are about to feel it Judo Bank's share price has collapsed more than 40% in a single day after three problem business loans blew up simultaneously Meta is betting on prediction markets after secretly launching a new standalone app called "Arena" _ Want to lean how to go from a Sav
Cocobella snapped up for $2 billion | Reddit monetises your opinions | WiseTech probe rocks the company
The Aussie company behind Cocobella and Rokeby protein shakes has been acquired by Danone for nearly $2 billion. Reddit is turning human opinions into a $625 million ad business…and is introducing new products to capitalise on its community. WiseTech, ASX-listed logistics software, just lost $2 billion from its market value because of a very serious investigation into its founder. _ Want to
Glue Store heads to the glue factory | Insurance premiums set to rise in the double figits | BMW hits the breaks on its profit outlook plus a special guest interview
Glue Store just became the latest fashion victim to permanently close its doors after the stores were losing too much money for its owner Australia's biggest insurers have warned home insurance premiums will rise by double digits every year for the foreseeable future BMW has suffered a 6% fall in share price after it hit the brakes on its own profit outlook _ Want to lean how to go from a Saver to
Labor backflips on tax reform | ARN buys peace with Kyle Sandilands | Snap’s big AR glasses gamble
The Labor government has done a major backflip on its capital gains tax changes… while also dumping its stealth death tax. ARN Media are forking out $12 million to get Kyle Sandilands off their airwaves… but they’ll pocket some of his future earnings in the process. Snapchat’s stock plunged by around 9%... after releasing a pricey pair of augmented reality glasses - calle
RBA hits pause on rates | Accent Group receives hostile takeover bid | Grill’d allegedly misleads customers
The RBA has held the cash rate at 4.35 per cent… pausing to see if the three hikes this year so far has actually made a difference. Australia’s largest sneaker retailer, behind Platypus and Athlete’s Foot has received a hostile takeover bid…without a single cent of premium. Grill'd is being sued by the ACCC for allegedly misleading customers about how much it would donate
Rebel Sport's regional expansion | SpaceX breaks IPO history | Aussies lean into Cadbury choccy
Super Retail Group has announced a five-year plan for its brands like Rebel Sport to own regional Australia… before competitors get there. SpaceX has just completed the biggest IPO in history - raising $US75 billion and turning Elon Musk into the world's almost-trillionaire. Cadbury has posted double-digit growth in Australia as we turn to chocolate during the cost-of-living crisis. _ Downl
Chemist Warehouse eyes $14 billion acquisition| Kmart takes on IKEA | Bending Spoons cashes in
Sigma Healthcare, the owner of Chemist Warehouse, is chasing a $14 billion deal to buy UK pharmacy giant Boots. Kmart is opening a massive furniture showroom called K Home to grab a bigger slice of the furniture market. Bending Spoons, the Italian app studio that buys dying internet brands has just filed for a $20 billion Nasdaq IPO. _ Download the free app (App Store): http://bit.ly/Fl
KPMG's audit scandal | Universal Music rejects a mega offer | The Astronaut Wears Prada
KPMG's global bosses have frozen partner exits at KPMG Australia to stop an exodus blowing up the entire audit season. Universal Music is sounding out a €1 billion bond sale… after one of its major backers sold his stake in the company. Prada is heading to the moon…by designing garments for NASA astronauts to wear for their next big moon landing. _ Download the free app (App Sto
David Jones faces ASIC fine | Hasbro sells its characters' voices | Victoria’s Secret's angelic results
David Jones lost more than $95 million in 2025… and is being investigated for being six months late to report it. Hasbro, the mega toy company has launched a new unit to allow businesses to rent the AI voices of Optimus Prime, Mr. Monopoly and Peppa Pig. Victoria’s Secret’s shares have soared 50%... after it bumped its revenue forecast by $180 million. _ Download the free app (A
Foxtel battling Nine for NRL takeover | Anthropic's $1.3 trillion IPO ambition | WiseTech cuts staff... then blocks them
Foxtel is making a $4 billion power play to kick Nine off the NRL.. and it's shopping for a free-to-air mate to make it happen. Anthropic has confidentially filed for an IPO at a $965 billion valuation USD. WiseTech told the world it’s replacing 2,000 employees with AI… then prevented some of its employees it fired from working for its rivals. _ Download the free app (App Store): 
ACCC investigates Uber Eats | Enhanced Games fails the hype test | Temu hit with €200 million fine
The ACCC has opened a preliminary investigation into Uber Eats after claims of anti-competitive deals. The Enhanced Games has suffered 70% fall in its share price in the past three weeks…after promised to break world records and failing dismally. Temu has been hit with a €200 million fine by EU regulators for failing to stop illegal products being sold on its platform… and the b
Endeavour’s exits wineries after a big hangover | FIFA’s ticketing scandal | Oreo teams up with BTS
Endeavour Group, the owner of Dan Murphy, is selling off its wineries and axing 80% of its grape production. FIFA is being investigated for selling crazy-expensive World Cup tickets… and apparently creating fake demand to do it. Oreo is collabing with K-pop supergroup BTS… in the biggest partnership ever for the cookie maker. _ Download the free app (App Store): http://bit.ly/Fl
NAB shifts jobs offshore | Aussie investors to join SpaceX | Ferrari's awkward EV launch
NAB is cutting jobs in Australia… while hiring up to 1000 new staff in India and Vietnam. SpaceX has added an Australian retail investment platform to its IPO plans.. in what could be the biggest IPO in history. Ferrari has unveiled its first fully electric car and its own marketing chief is telling its loyal petrol heads to please, please not buy it. _ Download the free app (App Store):&nb
GYG's US burrito unravels | Optus = For sale | Oura rings the IPO bell
Guzman y Gomez has shut its eight Chicago stores and abandoned its US expansion…and its share price skyrocketed on the news. Singtel has not-so-quietly put a "For Sale" sign on part of Optus… Australia's second-biggest telco. Oura Ring has confidentially filed for an IPO, as the smart ring maker is eyeing a $2 billion USD revenue year. _ Download the free app (App Store): http:/
Webjet hits a new low | The Big 4 banks' double standards | Murdoch acquires Vox Media
Webjet’s shares have nosedived to record lows ... .after its travel bookings have ground to a halt. Australia's major banks are hiking home loans after every RBA rate hike… but the interest rate on savings accounts isn’t following. James Murdoch’s company, Lupa Systems has just bought Vox Media for over $300 million USD… and it could be just the beginning for his ve
ASX200 telco falls 63% on merger news | Birkenstock's luxury slip | Ethical Everlane joins Shein
ASX-listed Tuas has seen its shares fall 63% after Singapore's regulator warned that its $1.5 billion merger is on the ropes. Birkenstocks are falling… falling more than 14%.... and hitting record lows…as its luxury status is being called into question. Everlane, the brand that built its whole identity on radical sustainability, has just been acquired by Shein. _ Download the free ap
Zip Co forced to change its name | Temple & Webster pulls back discounts | On x Zendaya
Zip Co has lost a decade-long High Court battle over its own name and will be forced to rebrand its entire Australian business. Temple & Webster has raised its prices and pulled back on promotions after warning that its earnings will be 30% below market expectations. Swiss sneaker brand On has raised its profit forecast after clocking a 26% sales surge…but its US growth might be startin
CBA's historic single-day fall | Xero's US bet backfires | CNN's new weather play
CommBank’s shares have seen their biggest single-day fall in history earlier this week after wiping $30 billion from its market value. Xero's revenue jumped 31%...but profits fell 27% after its multi-billion dollar US acquisition has hurt the bottom line. CNN has launched a stand-alone weather app…three years after its last digital product collapsed in just 29 days. _ Download the fre
Big Fed budget moves | CSL’s $10 billion headache | Dua Lipa is suing Samsung
The Labor government has handed down its 2026 Federal Budget… and it includes the biggest overhaul to Australia's property tax system in 25 year. CSL has seen nearly $10 billion wiped from its market value after writing-down a multi-billion dollar acquisition it made three years ago. Dua Lipa is suing Samsung for $15 million after it put her face on TV boxes to sell televisions… with
Macquarie profits from oil shock | Google replaces Fitbit just 5 years after acquisition | Uber Australia rides its profits overseas
Macquarie has posted a $4.85 billion annual profit… up 30%... after it turned the Iran oil shock into one of the biggest windfalls in the bank's history. Google has quietly killed off the $2.1 billion Fitbit app and replaced it with an AI health coach app for all devices. Uber made $2.1 billion in gross profit in Australia last year and somehow ended up with just under $9 million in net pro
JB Hi Fi's big, costly warning | GameStop's bold plan to acquire eBay | Gen Z women revive Tinder
JB Hi Fi’s sales rose 4% last quarter… but it’s warned that its laptops are facing major price hikes. GameStop’s share price has fallen 10% after it made an unsolicited $55 billion USD bid to buy eBay… a company four times its size. Tinder sign ups are growing for the first time since 2024… and it’s Gen Z women who are swiping right. _ Download the free
RBA hikes rates to a decade-high | Chemist Warehouse heads to the UK | Duolingo loses its winning streak
The Reserve Bank has hiked rates for the third consecutive meeting to 4.35%...and this is the highest cash rate in over a decade. Chemist Warehouse is taking its discount pharmacy model to the UK after buying into a British chain that’s been losing millions. Duolingo has beat its quarterly targets… but its share price is still slumping 11% on the news. _ Download the free app (App Sto
ANZ profit rises but shares stall | LIV on edge of bankruptcy after Saudi retreat | Nine rebuilds for streaming wars
ANZ announced a 6% jump in half-year profit to $3.8 billion but its shares barely moved on the results. LIV Golf is months away from bankruptcy after its biggest backer pulled its multi-billion dollar backing of the golf league. Nine Network has done a major overhaul of its tech…and people… to try and to compete against the TikToks, YouTubes and Netflixes of the world. _ Download the
Woolworths cuts 2026 profit forecast | Bega Group's TikTok luck | Alphabet smashes as Google Search holds
Woolworths has cut its 2026 profit forecast…despite sales rising 5.9% last quarter. Bega Group is churning out yoghurt in record numbers… and it's predicting profits will skyrocket 40% by 2031. Alphabet has just smashed its first quarter expectations with $107 billion in revenue and Google Search ain’t dead yet. _ Download the free app (App Store): http://bit.ly/FluxAppSto
Google & Meta move $11 billion off Australian shores | Amazon’s Aussie sales hit record high | Adidas' unlaunched shoes break records
Google and Meta have transferred almost $11 billion of Australian revenue to offshore entities over the past year to reduce their tax locally. Amazon's cart is overflowing with cash… pulling in $4.77 billion from Aussies in 2025… as local spending on the platform hits a record high. Adidas shares are on a runner's high… after Sabastian Sawe ran the first ever sub-two-hour mara
Microsoft invests $25 billion into Australia | WarnerBros Discovery vs Hollywood | SpaceX eyes $60 billion AI purchase
Microsoft is investing a whopping $25 billion into Australian data centres… as demand for AI just keeps booming. Warner Bros Discovery’s investors have overwhelmingly approved the $110 billion Paramount takeover deal… but some others aren’t too happy about it. SpaceX eyes a $60bn acquisition of AI coding startup Cursor as it ramps up its push into the booming AI developer
Cochlear's biggest one-day fall in 30 years | Intrepid Travel billion-dollar push | Adobe's $25 billion share buyback
Cochlear, the ASX-listed hearing implant company, has seen its share price plummet 36% - its biggest one day fall in 30 YEARS. Intrepid Travel, the Aussie tour group operator, is buying its way to billion dollar status… by snapping up French rival Altai. Adobe has announced a massive $25 billion share buyback program to give investors confidence in its future…despite the launch of Cl
NAB braces for bad debts | Mecca's in-store surge | Apple CEO Tim Cook steps down
NAB’s share price has dropped more than 3% as it prepares for a downturn for its business customers. Mecca’s revenue grew to $1.43 billion by the end of last year… … all thanks to opening a string of brick and mortar stores. Apple’s CEO Tim Cook has announced plans to step down, with his long-time team member John Ternus taking on the top gig. _ Download the free ap
Zip strikes BNPL success in the US | Gucci is launching smart glasses | Amazon $11.6 billion bonanza
Zip Co has seen its shares spiked up to 24% after announcing an upgrade to its earnings guidance thanks to the US. Gucci is teaming up with Google to launch smart glasses… as it fights to save its profits and make Gucci gucci again. Amazon is acquiring satellite company Globalstar for $11.6 billion to supercharge its space internet ambitions. _ Download the free app (App Store): http:/
Qantas and Virgin cut flights | Uber invests $10bn into robotaxis | Allbirds pivots to AI Birds
Qantas and Virgin Australia are cutting their lower demand flights because fuel prices continue to bite their bottom line. Uber is driving away from the gig economy… and pulling into the robotaxi lane with a $10 billion investment. Allbirds, the NZ founded shoe company has seen its shares soar over 500% after saying goodbye sneakers and hello to AI. _ Download the free app (App Store): 
MCoBeauty hit in copycat lawsuit | IKEA cuts 365-day returns | Coachella brings in the bucks
MCoBeauty, the Australian dupe-beauty giant, is facing US lawsuits over claims it has copied its luxury competitor. IKEA is winding back its famous 365-day refund policy as returns are eating into their flat-pack-margins. Coachella Week 1 is done and dusted… and the Californian region is counting the moula. _ Download the free app (App Store): http://bit.ly/FluxAppStore Download the fr
Aussies are hoarding the pantry | Yen tanks, Uniqlo thanks | Anthropic's playing AI gatekeeper plus a special guest joins us
SPC, the fruit and veg processor, has been a major beneficiary as Aussies are stocking up on baked beans and canned goods. Uniqlo is heading for another record year, with global expansion driving a surprise surge in profits. Anthropic is holding back its most powerful AI mode… and only giving it to Big Tech… to stop hackers winning the AI arms race. _ Download the free app (App Store
Canva rebrands as AI company | AustralianSuper dumps $1 billion | Levi Strauss' denim comeback
Canva has acquired two new startups as it tries to reposition itself from design-software to AI-marketing company. AustralianSuper has dumped nearly $1 billion from its ESG fund as it tightens ethical investing rules. Levi Strauss has seen its shares jump 10% after its strongest sales in 4 years…because baggy jeans are back. _ Download the free app (App Store): http://bit.ly/FluxAppSto
NextDC's 100-year loan (for a 15 year old company) | SafetyCulture goes on the offensive | AI giants team up against Chinese competitors
Aussie data centre operator, NextDC is issuing a 100-year, $1 billion bond to fund its booming data centre expansion. SafetyCulture kicks off its acquisition spree by buying Sydney-based AI start-up Twine as it prepares for the AI era. AI rivals OpenAI, Anthropic, and Alphabet’s Google have begun working together to clamp down on Chinese competitors stealing their models. _ Download the free
Telstra forced to cut its mobile coverage claims | Canva's late but huge revenue spike | Shein wants to run Aussie wardrobes
Telstra has just lost one of its key marketing angles as it’s forced to cut its mobile coverage claims by one-third. Canva has released its latest Australian financial results… very delayed.. And it’s local revenue has cracked over $2 billion USD. Shein has rolled out a supply-chain-as-a-service offering and is trying to get Aussie fashion brands to jump on board. _ Download the
Xero takes on AI by teaming up with AI | Diageo steps up to the crease for billions | David Jones' red flag
Xero has announced a new partnership with Anthropic to bring AI into accounting… and prove that its business won’t be eaten by AI. Indian Premier League cricket team, the Royal Challengers Bengalaru, has just sold to a private equity giant for nearly $1.8 billion USD sale. David Jones is delaying payments to suppliers… giving itself up to 60 days after a sale to actually hand o
Qantas faces $500 million profit drop | Apple is putting ads on the Maps | Labubu hype hits reality
Qantas could see profits drop by $500 million as it struggles to balance its flights and the huge spike in oil pieces. Apple is putting ads on Apple Maps… and quietly turning your next cafe search into an advertising battle with Google. Pop Mart’s Labubu empire is booming… but a 20% share price drop shows hype doesn’t always equal happily ever after. _ Download the free a
Domain first big challenge to REA Group | AI-powered cow collars hit $2 billon | Cuttable builds $100 million biz with just 8 engineers
A new-look Domain has promised to put a cap on price hikes as part of its new plan to take it up to REA. Halter, a New Zealand-based agtech company has been valued at $2 billion as it builds AI-powered smart collars for cows. Cuttable, an Aussie AI ad business has just cracked the $100 million valuation with just 8 software engineers. _ Download the free app (App Store): http://bit.ly/FluxApp
Smiggle's profit stalls | Lamborghini ditches EV plans for one reason | Flight Centre gets creative
Premier Investments, the owner of Smiggle and Peter Alexander, has announced flat profit for the last half… with one of its brands carrying the weight of the world on its shoulders. Lamborghini has ditched its plans for a full Electric Vehicle…apparently after customer backlash because it wouldn’t have an engine roar?! Flight Centre’s share price has taken off after acqui
ACCC investigates petrol cartel | Meta moves on from the $80 billion metaverse | OpenAI, Microsoft and Amazon in a throuple?!
The ACCC has launched a public investigation into whether major fuel suppliers have been committing anti-competitive conduct in regional Australia Meta is pulling Horizon Worlds off its VR headsets as it shifts further and further away from its expensive metaverse dream Microsoft is threatening legal action against its partner OpenAI after a $50 billion USD Amazon deal risks turning an exclusive p
RBA lifts rate to 4.10% | Google Maps adds AI to compete with Apple | Peloton pushes into gyms
The RBA has lifted interest rates to 4.1%… as war, petrol prices and inflation all collide into a global domino effect. Google is adding a new AI chatbot to Google Maps in its biggest software update to the product in over a decade. Peloton is rolling into gyms with new commercial-grade bikes and treadmills as it tries to pedal past at-home business. _ Download the free app (App Store):&nbs
Qantas' $105 million class action | McDonald's viral burger boost | Bumble pops despite falling user numbers
Qantas will pay $105 million to settle a class action over delayed COVID flight refunds… as it tries to move on from the major reputational hit. McDonald’s CEO went viral for awkwardly eating a burger… and somehow it boosted sales of the burger he was eating. Bumble’s share price has surged more than 30% after its latest results beat expectations… even though reven
Atlassian cuts 10% of its workforce | AustralianSuper wants to borrow billions | The Inspired Unemployed are cashing in
Atlassian is cutting 10% of its workforce as AI reshapes its business… and it tries to fight back against its plummeting share price. Australia’s biggest super fund wants to borrow billions… which could be the biggest shake up in the super industry in over 30 years. Better Beer, the low-carb brewer backed by The Inspired Unemployed, is raising up to $15 million to double down o
The Iconic finally turns a profit | Koala’s IPO reality check | Robinhood’s private strategy
The Iconic has finally turned a profit after 15 years as it shifts away from growth at any costs…and focuses on the margins. Mattress maker Koala is heading to the ASX in a $305 million IPO… but it’s a far cry from the valuation it once dreamed of. Robinhood, the US trading platform, has launched a fund to give retail investors access to private companies …but the market
Kyle & Jackie O's downfall sparks ARN Media | Audible faces audiobook competitor | Aussie airports are fleecing their visitors
ARN Media, the radio company behind KIIS and Gold FM, has seen its share price jump over 5% after the fallout of The Kyle and Jackie O show. Audible, Amazon's audiobook giant, has launched a cheaper subscription plan for the first time as it faces a major threat from Spotify. Australia's major airports are made over $400 million in profit from carparking alone in 2025. _ Download the free app (App
News Corp positions itself for AI | Lyka leans into pet humanisation | OpenAI’s $110 billion mega-raise from friends
News Corp has declared itself an AI “input” powerhouse as it expects to hit record profits in 2026… thanks to a big OpenAI deal. Lyka, the Aussie premium pet food company, has raised $67 million as it has grand plans for global expansion. OpenAI, the creator of ChatGPT, has landed a record-breaking $110 billion funding round, which includes a cheeky $50 billion from the Zo
CommBank dobs itself in to police | Woolworths’ AI goes rogue | Budget Direct's 'vanishing' discounts
Commonwealth Bank has dobbed itself in after spotting $1 billion in home loans were backed by dodgy, AI-generated documents. Woolworths’ AI assistant Olive has gone rogue… and shoppers aren’t loving the family drama. Budget Direct lands in hot water as ASIC alleges “vanishing discounts” for 39,000 customers. _ Download the free app (App Store): http://bit.ly/Flu
Qantas' plan to keep away from Virgin | Chemist Warehouse's healthy dose of profit | Wisetech's wipeout
Qantas half-year underlying profits hit nearly $1.5 billion as it plans to shake up its Frequent Flyer program to keep customers loyal Chemist Warehouse’s parent Sigma has posted an 18.7% earnings jump… and clearly it hasn’t taken its foot off the pedal since going public WiseTech Global plans to slash 2,000 jobs in an AI overhaul… and investors have cheered the move _ Do
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