Business News

Bite-sized business news from Australia and around the world

An Aussie plant-based chocolate maker is selling choccies and equity to its customers in a classic 2-for-1

Loving Earth has raised over $485,000 through equity crowdfunding and the goal is to use the money to regain market share in the choccy market.

Flux team
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1
min read
· Posted on
December 9, 2022

China has loosened its covid restrictions coz' it's really hurting the economy... and that ain't good for anyone

China has decided to loosen up its covid restrictions to rejuvenate its slowing economy.

Flux team
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1
min read
· Posted on
December 9, 2022

The name is Energy... Squadron Energy. And it's spent $4bn to save the day and clean our energy

A major renewable energy platform named CWP was put up for sale, so Andrew Forrest and his crew assembled to lob a $4 billion bid.

Flux team
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1
min read
· Posted on
December 9, 2022

Monkey see, monkey do: US and New Zealand considering new laws to force big tech to pay its media companies

Australia's deal forced big tech companies like Google and Facebook to pay news publishers for their content and now, other countries want their slice too.

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1
min read
· Posted on
December 8, 2022

Demand for electric vehicle and solar panel loans have skyrocketed 'coz energy is becoming so darn expensive!

NAB revealed that loans to EVs and solar panels have increased since 2020.

Flux team
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1
min read
· Posted on
December 8, 2022

Uber Australia has copped a $21 million fine for not delivering my food on time *checks note* for misleading customers

Uber has been slapped with a $21 million fine by the Federal Court for misleading millions of Australians.

Flux team
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1
min read
· Posted on
December 8, 2022

Hold the champagne showers folks 'coz apparently Australia is in a champagne shortage

Champagne is loved around the world - particularly by Australians - but now, Australia is facing a mild champagne shortage.

Flux team
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1
min read
· Posted on
December 7, 2022

New AI chatbot ChatGPT has entered the chat... and is the movie Her actually coming to life?!

OpenAI released its latest version of a chatbot called ChatGPT, and it could potentially steal the jobs of humans.

Flux team
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2
min read
· Posted on
December 9, 2022

Domestic airfares have reached a 15-year-high... so sorry Aunt Donna in QLD, you're just not worth it

The ACCC has revealed that airfares haven't been this expensive in over 15 years so it is coming to the rescue.

Flux team
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1
min read
· Posted on
December 7, 2022

Netflix is expanding its ‘Preview Club’ so you can jump off your ex's Netflix account and get into something new

Netflix has expanded its Netflix Preview Club to over 10,000 previewers.

Flux team
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1
min read
· Posted on
December 6, 2022

Maccas reckons it's got the secret formula for a faster drive-thru and I'm sitting, waiting, wishing

Maccas is piloting new tech to help get more meals into more mouths.

Flux team
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1
min read
· Posted on
December 6, 2022

NBN Co has pulled out the scissors to write off at least $31 billion of costs... but will my internet plz get faster now?!

The NBN Co will write off at least $31 billion of the costs of the network.

Flux team
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2
min read
· Posted on
December 6, 2022

CommBank has its eyes on the payments prize and its got a 2-birds-1-stone vibe to it

CommBank is keen to fight the good fight against global payment giants like PayPal, Square, and Stripe.

Flux team
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1
min read
· Posted on
December 6, 2022

Airbnb is cosying up with landlords which means you may be able to sub-lease your rental... legally

Airbnb is partnering with building owners and landlords.

Flux team
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1
min read
· Posted on
December 6, 2022

Telstra has put its retail energy business on ice 'coz we're in enough energy pain right now

Telstra planned to launch Telstra Energy by the end of this year... but then changed its mind.

Flux team
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1
min read
· Posted on
December 6, 2022

Doordash has laid off 1,250 staff as another big food delivery company feels the burn

Like many food delivery companies, Doordash needed to rein in costs over the past few months... to it had to lay off 6 per cent of its workforce.

Flux team
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1
min read
· Posted on
December 2, 2022

Spotify has released its Wrapped feature for 2022 and it's potentially more scary than your Google search history

Spotify has released Wrapped 2022... and this time, it includes music personalities.

Flux team
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1
min read
· Posted on
December 2, 2022

Domino's Australia is raising $165m to say guten tag to its Domino's Germany counterpart

Domino's Pizza launched into Germany in a joint venture with British Domino's... but now, British Domino's is out.

Flux team
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1
min read
· Posted on
December 2, 2022

Amazon has launched a new feature to help retailers boost sales... but it totally won't leverage the retailers' data

Amazon unveiled a new software to help both online and physical retailers boost sales.

Flux team
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1
min read
· Posted on
December 1, 2022

Balenciaga's big advertising bust led customers and brand ambassadors to distance themselves from the brand

Balenciaga recently launched a new campaign that showed children holding teddy bears... and it was a major advertising bust.

Flux team
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1
min read
· Posted on
December 1, 2022

Bunnings has too much stock for its own good...so hands up if you'll 'store' a BBQ in your backyard this summer?

Bunnings has seen its revenue jump in the past two financial years, but now it's stuck with too much stock for its warehouses.

Flux team
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2
min read
· Posted on
December 1, 2022

Bringing sexy back: Aussie regtech FrankieOne scores another $23 million in funding in a very unsexy industry

FrankieOne has raised $23 million from two of the leaders in the crypto space, Binance and Kraken, amongst others.

Flux team
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1
min read
· Posted on
November 30, 2022

Watch those webcams: Aussie spending on cyber insurance expected to jump 70%

Optus and Medibank have copped huge data hacks recently, and as a result, premiums for cyber insurance in Australia have more than doubled since 2020.

Flux team
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1
min read
· Posted on
November 30, 2022

Strandbags is going through a rebrand that is arguably more dramatic than Snoop Dogg's change to Snoop Lion

Strandbags is trying to rebrand its product to appeal to a younger demographic.

Flux team
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1
min read
· Posted on
November 30, 2022

China hits a new record for Covid cases and companies with Chinese manufacturers are shakin' in their booties

China is now reporting more than 30,000 cases a day, which means another major risk for companies.

Flux team
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1
min read
· Posted on
November 29, 2022

BWX remains in its 3 month trading halt - and things ain't looking very natural or beauty-ful here

BWX's shares have been in a trading halt since August, and now they're delaying the release of their financial accounts again.

Flux team
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1
min read
· Posted on
November 29, 2022

Sweet (and sustainable) Mars Wrigley is piloting its paper-based packaging in Australia

Mars Wrigley Australia is launching paper-based packaging for all their chocolate bars.

Flux team
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1
min read
· Posted on
November 29, 2022

World Cup sponsors say Tukoh Taka to the controversies 'coz they wanna give in front of 5 billion eyeballs

Despite Qatar’s human rights record dominating the early coverage of the World Cup, companies have still been eager to take advantage of the World Cup hype.

Flux team
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1
min read
· Posted on
November 28, 2022

Retailers making Black-Friday-hay while the sun shines because who knows what next year will bring?!

Shoppers said they were relying on Black Friday sales to help them save money on Christmas shopping.

Flux team
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1
min read
· Posted on
November 28, 2022

Besties alert! Australia has signed a chunky new trade deal with India

A new deal has emerged between Australia and India that will allow them to trade goods and services almost tariff-free.

Flux team
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1
min read
· Posted on
November 28, 2022

Zoom is pushing its all-in-one platform to grow revenue so move over Gmail - the world is becoming Zmail

Zoom is trying to pivot away from being defined exclusively as a videoconferencing platform.

Flux team
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1
min read
· Posted on
November 25, 2022

Amazon has committed to invest $1.5 billion into theatrical releases each year... and.. ummm.. why?

Amazon announced it will be investing in theatrical releases each year.

Flux team
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1
min read
· Posted on
November 25, 2022

Harvey Norman has seen its sales ringgit-in thanks to a big boost from Malaysia

Harvey Norman announced a jump in sales for this financial year and it's all thanks to Malaysia.

Flux team
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2
min read
· Posted on
November 25, 2022

Bob's your uncle! Disney has made a major move to its leadership. Out: Bob C. In: Bob I.

After only two and a half years letting of stepping down as CEO of Disney, Bob Iger returns to replace his successor Bob Chapek.

Flux team
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2
min read
· Posted on
November 24, 2022

Coles is standing on the shoulders of fallen startups with its new 60 minute grocery delivery service

Deliveroo and VOLY both said they would be shutting down in Australia... and now, Coles is swooping with its new click-and-collect orders.

Flux team
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1
min read
· Posted on
November 24, 2022

Qantas announces its second positive profit forecast in two months 'coz we've all got pretty short memories

Qantas expects up to $1.45 billion in underlying profit before tax in the first half of its financial year.

Flux team
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1
min read
· Posted on
November 24, 2022

Morgan Stanley's getting its hands dirty by removing 1 gigaton of emissions (or 10,000 aeroplanes worth of gunk)

Morgan Stanley aims to invest in companies that will collectively remove 1 gigaton of carbon dioxide emissions by 2050.

Flux team
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1
min read
· Posted on
November 23, 2022

Consumers have DOJed a bullet with the $2.2bn merger of two major publishers scrapped

Penguin Random House wanted to merge with Simon and Schuster, but the deal was scrapped before it even happened.

Flux team
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1
min read
· Posted on
November 23, 2022

Iris Energy has defaulted on over $160m of loans so get ready for crypto mining equipment at a garage sale near you

Iris Energy borrowed over $163m to power bitcoin mining machines, but now it has decided to not repay these debts.

Flux team
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1
min read
· Posted on
November 23, 2022

GAP's sales bounce as socialising and working-from-the-office makes a comeback

Gap released their increased quarterly profits and it shows they've done better than investors expected.

Flux team
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1
min read
· Posted on
November 22, 2022

The major streaming services are investing big in Aussie content... so is THAT why Neighbours is coming back?

Five of the major streaming services collectively spent $670 million in 2022 on Australian and Australian-related programming.

Flux team
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1
min read
· Posted on
November 22, 2022

NIB's profits rise off the back of Medibank's misfortune.. so at least someone is benefiting from this disaster

While Medibank's data breach has been devastating for its own customers, it's been a blessing in disguise for NIB.

Flux team
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1
min read
· Posted on
November 22, 2022

BHP has finally landed the big fish, OZ Minerals, for $9.6 billion after a long, long tussle

After a long tussle, BHP has finally acquired OZ Minerals.

Flux team
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1
min read
· Posted on
November 21, 2022

The price of quality wagyu keeps going up 'coz apparently you just can't have a summer barbie without it?

AA Co reported a huge increase in operating profits... and they recon it ain't stopping any time soon.

Flux team
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1
min read
· Posted on
November 21, 2022

Webjet is back in the black after walking through the valley-of-the-shadow-of-death during COVID lockdowns

Things were tough at Webjet during 2020 and 2021 lockdowns... but now, it has gained a major profit.

Flux team
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1
min read
· Posted on
November 21, 2022

Airbnb is showing its hosts some love with new features... but plz no more anti-party tech

With travel back big-time post pandemic, Airbnb has now shifted its focus to its 4 million Airbnb hosts.

Flux team
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2
min read
· Posted on
December 1, 2022

Estee Lauder snaps up Tom Ford for $2.8 billion USD... so excuse us while we prep the new Flux perfume

Designer Tom Ford created his own brand in 2005 and now Estee Lauder agreed to acquire his whole company.

Flux team
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1
min read
· Posted on
December 1, 2022

David Jones has a monstrous jump in sales, which is good news for its owners who are looking to sell the biz

David Jones' performance over the past decade has been underwhelming... but now it's turning a corner because its sales have jumped.

Flux team
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1
min read
· Posted on
December 1, 2022

Berkshire Hathaway has just dropped a $4.1 billion Midas touch on a Taiwanese chipmaker

Berkshire Hathaway just made a huge investment in a microchip company in Taiwan.

Flux team
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1
min read
· Posted on
November 17, 2022

Oatly's forecasted revenue has dipped and investors soured like a 90-day-old carton of oat milk

Oatly has warned of a change in its forecasted revenue for the upcoming year because "oat milk is more expensive than dairy milk".

Flux team
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1
min read
· Posted on
November 17, 2022

Deliveroo Australia is shutting down operations "immediately". Do not pass Go, do not collect burrito with cheese.

Deliveroo Australia's operations are no longer sustainable so it has decided to shut down.

Flux team
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2
min read
· Posted on
November 17, 2022

Unilever's prices are growing faster than the weeds in your backyard

Unilever released its quarterly results and they've pushed up their prices up.

Flux team
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1
min read
· Posted on
November 16, 2022

While the world worries about cost-of-living, CommBank just banked $2.5 billion in profit this quarter

CBA has released its quarterly results which were described as "solid".

Flux team
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1
min read
· Posted on
November 16, 2022

FTX collapsed and now crypto investors are trying to GTFO of all crypto exchanges

Since FTX's collapse, crypto investors are now questioning the reliability of keeping assets on digital asset exchanges.

Flux team
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1
min read
· Posted on
November 16, 2022

Bumble customers choose quality dates over quantity swipes in this new age of high cost of living

Gen Z and millennials aren't as jazzed as they used to be about forking out for unli swipes and extended matches.

Flux team
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1
min read
· Posted on
November 15, 2022

"Alexa, make us profitable again" - Amazon

Amazon is taking a slice out of its most unprofitable business - Alexa.

Flux team
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1
min read
· Posted on
November 15, 2022

Adore Beauty's revenue slides as shoppers transition back to the stores-of-old

After a pandemic boom, Adore Beauty is going back to the drawing board.

Flux team
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1
min read
· Posted on
November 15, 2022

Vanguard switches from super-fund-best-friend to super fund-best-foe as it launches its own super product

Vanguard Australia has launched its new MySuper product to the Australian market.

Flux team
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1
min read
· Posted on
November 14, 2022

It's-a-me, Mario! Nintendo prepares Mario, Luigi and Peach for life after video games

After a jump in quarterly profits, Nintendo's preparing Mario and the entire team for life after video games.

Flux team
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1
min read
· Posted on
November 14, 2022

Westfield sees consumers splurge on retail 'coz travel is just too exxy now

Westfield is seeing consumers splurge on retail shopping.

Flux team
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1
min read
· Posted on
November 14, 2022

Meta has laid off more than 11,000 staff so welcome to the great tech reset of 2022

After suffering major losses and its first sales decline as a public company, Meta has laid off more than 11,000 of its staff.

Flux team
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1
min read
· Posted on
November 11, 2022

RM Williams' financial results are officially as impenetrable as its boots after a 17% jump in sales over the past 12 months

RM Williams saw its sales jump 17% in the last 12 months, and now it's focusing on becoming an even greener company.

Flux team
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1
min read
· Posted on
November 11, 2022

Origin Energy received an $18 billion takeover offer so PLEASE make this the end of bonkers electricity prices

Origin Energy just got a new suitor... with a whoppin' $18 billion takeover offer.

Flux team
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1
min read
· Posted on
November 11, 2022

Disney grows its streaming service but it's costing them a pretty penny and investors aren't too pleased

Disney+ saw massive subscription growth... but that also meant a massive loss for its streaming division.

Flux team
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1
min read
· Posted on
November 10, 2022

Top crypto exchange FTX has crumbled and now its possible-white-night-saviour is letting it go

There's been a crazy chain of events between Binance and FTX... and now the latter has crumbled.

Flux team
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2
min read
· Posted on
November 10, 2022

News Corp has seen its earnings drop by 75% in a changing-of-the-guard moment

News Corp just announced its results for the last quarter and it's fair to say, it's been whacked.

Flux team
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1
min read
· Posted on
November 10, 2022

Travel app Hopper has raised big wads of cash 'coz it's the travel industry's time to shine

Travel app hopper just raised big wads of cash to build out their social commerce app.

Flux team
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1
min read
· Posted on
November 9, 2022

Estee Lauder's revenue takes a hit as companies start to kiss the lipstick effect goodbye

Estee Lauder and other cosmetic companies are seeing a drop in sales as they kiss the 'lipstick effect' goodbye.

Flux team
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1
min read
· Posted on
November 9, 2022

Westpac's CEO reckons the economic slowdown won't stop until we undo our inflation psychology

Westpac's CEO warns that consumer spending is high... thanks to inflation psychology.

Flux team
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1
min read
· Posted on
November 9, 2022

Coopers Brewery cops a sales whack 'coz we just ain't chuggin beers like we used to

The last year hasn't been kind to Coopers Brewery... but it reckons the 2023 financial year is its year to shine.

Flux team
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1
min read
· Posted on
November 8, 2022

Atlassian takes its biggest share price hit of all time but can't stop, won't stop hiring and growing

Despite the revenue jump, Atlassian's projection for the upcoming quarter was disappointing... but that's not gonna stop it from charging ahead.

Flux team
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1
min read
· Posted on
November 8, 2022

Coca Cola Amatil has been earning coal royalties... and now I'm wondering how the drinks gets that brown colour

Coca-Cola Amatil had a number of coal assets, including one in Queensland... but Glencore alleges that the iconic soft drink maker doesn't own that site.

Flux team
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1
min read
· Posted on
November 8, 2022

Maersk, one of the biggest companies you've never heard of, is raising some red flags for the economy

Danish shipping company Maersk is sending out a warning about the economy.

Flux team
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1
min read
· Posted on
November 7, 2022

AustralianSuper reckons the current super system just ain't cutting it for retiring Aussies

Australian Super is urging policymakers to focus on how super fund members could earn more as they retire.

Flux team
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1
min read
· Posted on
November 7, 2022

Ralph Lauren has partnered with Fortnite to sell digital clothes 'coz Gen Z just aren't buying the polos anymore

Ralph Lauren is teaming up with popular online video game Fortnite... to start a digital fashion line.

Flux team
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1
min read
· Posted on
November 7, 2022

Johnson & Johnson just got a big, juicy, $17bn heart

Johnson & Johnson just acquired a new heart device maker.

Flux team
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1
min read
· Posted on
November 4, 2022

NOT HAPPY JAN: Airbnb is breaking holiday records but investors are still kinda wary

After two years of lockdowns, it's fair to say Airbnb customers have unleashed - and it shows in Airbnb's record revenue.

Flux team
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1
min read
· Posted on
November 4, 2022

Australia's financial crime watchdog has its eyes on two of our biggest betting agencies. Woof woof!

Australia's financial crime watchdog is setting its eyes on two of the country's biggest betting agencies.

Flux team
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1
min read
· Posted on
November 4, 2022

Twitter employees? You're cut. Fee for verified account? You may have to pay for that privilege.

Twitter's verified blue-tick badges may now become available to anybody who pays for it.

Flux team
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2
min read
· Posted on
November 3, 2022

Buy now pay later companies can't take a trick. Share price plummets. And now, more regulation.

After taking the world by storm over the COVID period, BNPL companies might be facing more regulation from the government.

Flux team
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1
min read
· Posted on
November 3, 2022

Amazon Prime is slingin' music like its going out of fashon - cop that Spotify and Apple Music

Spotify and Apple Music better be ready... because Amazon's music-streaming app will be playing 100 million songs and ad-free podcasts.

Flux team
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1
min read
· Posted on
November 3, 2022

VC investor Andreesen Horowitz is down 40% on its crypto fund but its got diamond hands 💎🙌 so HODL everyone

Andreesen Horowitz announced a $4.5 billion USD crypto fund but since then, it has lost around 40% of its value.

Flux team
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1
min read
· Posted on
November 2, 2022

MrBeast is looking for a $1.5 billion valuation for his beasty-business and how do you like dem burgers?!

MrBeast has leveraged his business beyond just social media... and now he's looking to raise a $1.5 billion valuation for it.

Flux team
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1
min read
· Posted on
November 2, 2022

Big 4 banks' major collab with the Federal Government could put Elton John and Dua Lipa to shame

The government is once again exploring the possibility of a social impact investment bank... but this time, it needs the help of the Big Four banks.

Flux team
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1
min read
· Posted on
November 2, 2022

Apple hikes the price of Apple Music and Apple TV+ so now its exxier than Spotify. Wait, what?!

Apple is going to increase the price of its AppleTV+ and Apple Music subscriptions.

Flux team
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1
min read
· Posted on
October 31, 2022

Self-driving tech company Mobileye lists on the NASDAQ for the second time...and second time is a reeaaal charm

Intel's Mobileye lists on the NASDAQ for the second time around.

Flux team
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1
min read
· Posted on
October 31, 2022

Westpac is spending millions to woo the rugby league diehards in NSW and QLD

Westpac locked in a multimillion-dollar deal with the National Rugby League.

Flux team
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1
min read
· Posted on
October 31, 2022

Meta has thrown all its chips into the metaverse... and it's kinda, sorta not working out for them so far

Meta just released its quarterly results and it's fair to say the Metaverse has become its major focus.

Flux team
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1
min read
· Posted on
October 28, 2022

ANZ has announced a whopping full year profit and it's starting to get a bit aNIMated

ANZ had some big news to share with the market... and it's all about a whopping cash profit.

Flux team
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1
min read
· Posted on
October 28, 2022

Bravo! Seven West Media has found its new partner in content-crime - NBCUniversal

Seven West Media has signed a multi-year content deal with NBCUniversal.

Flux team
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1
min read
· Posted on
October 31, 2022

BREAKING NEWS: Nothing is cheap anymore... and Coles reckons it's only getting worse

Coles saw price inflation rise this quarter and it reckons its customers are starting to change their purchasing habits.

Flux team
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1
min read
· Posted on
October 27, 2022

It's time to go: Ye. Adidas has cut ties with Ye (FKA Kanye West) after a his anti-semitic and racist outbursts.

Adidas cut ties with Ye over a number of anti-Semitic tweets and comments.

Flux team
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1
min read
· Posted on
October 27, 2022

Oops. Medibank has just realised the personal data of 3.9 million of its customers was stolen. And this is major.

Medibank initially warned that only 'some' data had been exposed... but now it revealed this cyber attack was a whoooole lot bigger.

Flux team
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1
min read
· Posted on
October 27, 2022

Sam Kekovich may need to learn Portguese 'cos an Australian lamb company has got new Brazilian owners

Brazil's Minerva Foods has snapped up the Australian Lamb Company.

Flux team
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1
min read
· Posted on
October 26, 2022

Too many people are vaping and the government wants its slice now

More and more Australians are using vaping products... and this could become another sin tax for the government.

Flux team
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1
min read
· Posted on
October 26, 2022

The Labor govt just dropped the mic on its first budget in 10 years... and we have some major winners... and losers

The Labor government just dropped the mic on its first budget in a whoppin' 10 years.

Flux team
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1
min read
· Posted on
October 26, 2022

7-Eleven is doubling down on petrol with an 11 year deal with oil giant ExxonMobil

7-Eleven has extended its supply deal with ExxonMobil for another 11 years.

Flux team
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1
min read
· Posted on
October 25, 2022

Nine Entertainment says Stan is NOT for sale... but they are looking for partners to cosy up to

Nine denied that Stan is for sale, but it did say that Stan is looking for a strategic partnership.

Flux team
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1
min read
· Posted on
October 25, 2022

Netball Australia is in the market for a new major sponsor - Mike Cannon-Brookes, u up?

Hancock Prospecting has walked away from the deal with Netball Australia.

Flux team
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1
min read
· Posted on
October 25, 2022

Klarna, the BNPL is launching a new shoppable video feature.. so pls call it "Klarna-Tok" from this point forward

Klarna seems to be copying TikTok's style by launching a new shoppable video feature.

Flux team
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1
min read
· Posted on
October 24, 2022