Business News

Bite-sized business news from Australia and around the world

Nestlé knocks their sales results out of the park, despite price increases

Nestlé is the maker of many food products you have in your every day diet. KitKat bars, Nescafé coffee, Uncle Tobys oats...even Allens lollies!

Justin from Flux
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2
min read
· Posted on
October 22, 2021

Live, laugh, love 'cos Paypal is exploring an acquisition of Pinterest for nearly $52 billion

PayPal's been on a bit of an acquisition spree, with plans to reach 750 million users by the end of 2025.

Justin from Flux
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2
min read
· Posted on
October 22, 2021

CBA is getting its gloves out in the fight against challenger fintechs

CBA (and the other big banks) have kindaaa been caught sleeping over the last few years. But consider this your 6am alarm, cos CBA just woke up.

Justin from Flux
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2
min read
· Posted on
October 22, 2021

Move over baby shampoo, there's a new sheriff in town for Johnson & Johnson

Johnson & Johnson's expecting $3.3 billion worth of vaccine sales this year. Pretty good - but nothing compared to Pfizer...

Justin from Flux
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2
min read
· Posted on
October 21, 2021

Netflix subscribers are boomin again and it's all thanks to Squid Game

Who knew children's games with murderous endings were SO popular?

Justin from Flux
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2
min read
· Posted on
October 21, 2021

After 18 months of pain, Flight Centre can see sunshine again

Flight Centre saw a pre tax loss of $602m in the 2021 financial year...but it's feeling optimistic again.

Justin from Flux
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2
min read
· Posted on
October 21, 2021

Aussie startup CitrusAd is poppin' bottles as it sells for over $200m in just four years

$205m for 4 years of work - not bad at all for the CitrusAd crew. Here's how they did it.

Justin from Flux
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2
min read
· Posted on
October 20, 2021

LinkedIn is shutting its Chinese business.. and RIP to the last global social network operating in China

LinkedIn becomes the last global social network to shut down in China

Justin from Flux
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2
min read
· Posted on
October 20, 2021

Mercedes Benz Australia launches $650m court action against its mothership in Germany

Things are heating up between Mercedes Benz Australia dealers and Mercedes Benz HQ in Germany.

Justin from Flux
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2
min read
· Posted on
October 20, 2021

Square - aka Afterpay's new step-daddy - wants to get into bitcoin mining

Jack Dorsey is the CEO of Twitter and Square...and he reckons bitcoin could solve world peace.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

If you love something set it free cos it could be valued at US$6 billion like Saks' e-comm site

Saks Fifth Avenue is a US luxury department store chain, which first opened up in Washington D.C. way back in 1867...yah, it's that old.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Aussie gambling giant Aristocrat Leisure wants to go digital

Aristocrat Leisure is a $29 billion gambling machine manufacturer. And it's one of the world's largest in the world.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

DoorDash prays to the ad Gods as it struggles to boost revenue

Despite serving 20 million hungry consumers, DoorDash has never seemed to turn an annual profit...

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Call Eddie Murphy 'cos Body Fit is coming to America (again)

Body Fit has ridden the fitness boom nicely. It's expecting 200 studios in Australia by the end of 2021.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Qantas rides industrial property boom into the cash-filled sunset

Qantas has had a pretty tough couple of years...but it's got some much-needed good news.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

It was only a matter of time...Fox has hopped on the NFT train via The Masked Singer

In a surprising twist, Fox is getting into crypto. And it's using The Masked Singer to do it.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Mindbody has acquired ClassPass and it's a match made in business-heaven

Mindbody is the quiet achiever that all the cool kids are using (think: F45, KX Pilates and many of your locals).

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Climate investors aren't keen on Australia thanks to our lame climate policy

The RBA has warned ScoMo that climate-conscious investors could start divesting from Australia if we don't settle on a net-zero emissions policy soon.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Canva launched a new video editing suite and about time, Mel

Canva has announced it will be offering video editing tools...so if you're tryna go viral on TikTok - there's a template for that!

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2
min read
· Posted on
October 20, 2021

Seven's a sucker for sports - say that 10 times

Seven West Media has some serious success broadcasting the Olympic and Paralympic Games this year. We're talkin' revenue and ratings records smashed!

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Soon you can check in and check out with a new QR payments platform

Coles, Woolies and banks CBA and NAB are backing a new QR payments system from Eftpos called eQR.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Strap in Qantas and Virgin...Here comes Bonza

Qantas and Virgin have been having a bit of a two-person party here in Oz, but that's about to change.

Anastasia from Flux
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2
min read
· Posted on
October 13, 2021

ASOS tells investors to fasten their seat belts, there are supply chain issues ahead

Buckle up, cos the fashion industry is about to hit turbulence.

Anastasia from Flux
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2
min read
· Posted on
October 13, 2021

Elon Musk only wears cowboy hats now as Tesla shifts its HQ to Texas

Tesla's moved its headquarters to Austin, Texas...and so have around 35 other ex-Silicon Valley startups.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Sportswear GOAT Nike is down with the cool kids aka Gen Z

Nike's been named the number one footwear and apparel brand among teens - but this ain't that much of a surprise.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Pinterest loves its children (shoppers and advertisers) equally

Pinterest is rolling out some hot new features for advertisers and brands to promote more products on the platform.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Star Entertainment Group's got some dirty laundry

New media reports allege that the Star Casino enabled money laundering - and it could lose its casino licence...

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Find a new place to stash your cash Google, Ireland's just not what it used to be

Ireland is the home of Guinness, St Patty's day and of course, the European HQ of some massive tech companies.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Throw out ya ol' milk before Alexa does it for you with the new Amazon smart fridge

Amazon's led the way in virtual assistant tech with Alexa. Now, they're reportedly working to bring us a smart fridge!

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Foxtel's circling back with a new smart TV...in 2023

Foxtel's been on a personal journey as of late. Ya know, eat, pray, get with the times.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Westfield gives us all another excuse to shop with the new Westfield Direct

The lines between physical retail and digital retail are starting to blur before our very eyes...

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Coles is putting its in-store butcher service on the chopping block

From Sunday onwards, Coles is making the switch to pre-packaged meats only.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Cya Aus Post, Google-owned drone delivery service Wing is coming to Oz

When we were in lockdown and out of toilet paper, Google thought it would kill two birds with one...drone.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Boss moves from PepsiCo as it beats earnings expectations despite increasing prices

Pepsi's long been seen as the less-cool younger bro of Coke... but it still has a huge 26% market share of carbonated soft drinks in the US.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Looks like the only houses we can afford are tree houses after the banking regulator's new move

Rising house prices have put Australia in a housing affordability crisis. But APRA has plans to change that...

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Milk company a2 can't run or hide, it's facing a class action

a2's shares have plunged 62% since August 2020... and Slater and Gordon aren't happy.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Tesla's got the secret sauce to extra car sales

While everyone else faces a global chip shortage, Elon Musk had something up his sleeve. And it ain't Doge coin.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Facebook, WhatsApp and Instagram go down

Did your thumbs enjoy that scrolling vacay? Cos The Zuck's bank account didn't.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Qantas and Emirates want to renew their vows

The pair want to extend their strategic alliance for another five years...and let the good times roll.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Nick Scali will nearly double in size after acquiring comfy couch GOAT Plush

Nick Scali's latest acquisition has it laughing all the way to the bank...

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Fully-vaxxed Aussies could win prizes worth $4.1 million thanks to a group of philanthropists

The Million Dollar Vax Alliance is hoping to push Australia's vaccination rate above 80% by the end of the year.

Anastasia from Flux
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2
min read
· Posted on
October 5, 2021

Sony's COVID spending spree continues - and same TBH

The multinational entertainment company has just acquired Bluepoint Games, which is like the master of remasters.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Stationery brand Kikki.K could be saved from the depths of its despair...again

After collapsing for the first time in March 2020, Kiki.K has found itself in voluntary administration once again...

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

TikTok stars get on the NFT payroll thanks to an Aussie fintech

Until now, TikTok creators had to rely on sponsorships or ads to make money from their content...not anymore!

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Bad news caffeine fiends, your morning hit is about to get a lot more expensive

Drink up on #internationalcoffeeday because the supply is limited!

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

The US Government needs to raise the roof (the debt roof)

The US Government has been spending around US$50 billion a day for the last year... and they're about to run outta cash!

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Home of the infamous bachie recaps, Junkee, could be sold to Rolling Stone mag's parent company

The owner of Junkee, Ooh!Media, are looking to sell the company... and there are some pretty hot contenders.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Google's ad tech biz is bad for customers, says the ACCC...cue the table flips

The ACCC reckon Google's ad tech biz is harming everyone... except Google itself.

Anastasia from Flux
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2
min read
· Posted on
September 30, 2021

Brick by brick, Lego's profits double. Isn't that the saying?

While the whole world faced supply chain issues, Lego didn't.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Call Greta Thunberg, 'cos The Iconic is making waves in the circular economy

The Iconic is letting customers register their clothes for resale as soon as they buy them....

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Woolworths launches an online marketplace

Watch out Jeffy B, Woolies is coming for your territory with an online marketplace called Everyday Market.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Instagram pauses its Insta for Kids app

Thanks to major safety concerns, Insta has hit pause on the development of its version of the app for under-13s.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

China makes crypto transactions illegal

In a big power move from the Chinese Government, all crypto transactions will be banned.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Amazon plans to open physical department stores

Amazon wants to open its own physical stores... weird flex, but okay.

Anastasia from Flux
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2
min read
· Posted on
September 28, 2021

Nike flags supply chain issues ahead

It looks like nothing can stop Nike...they've just got one teeny...tiny...ok, massive problem.

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

Hungry Jacks v KFC: Best chicken takes it all

Hungry Jack's has been known for its juicy beef burgers... but now, it's launching its Jack's Fried Chicken Burger range nationwide!

Anastasia from Flux
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2
min read
· Posted on
October 20, 2021

The EU reveals plans to standardise charging cords

The EU's plan to reduce environmental waste might be bad news for Apple...

Anastasia from Flux
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2
min read
· Posted on
September 28, 2021

There's a shortage of Rolex watches - they say it ain't a marketing strategy

Rolex is the world's leading luxury watch brand, worn by the likes of Roger Federer, Rihanna, David Beckham and Brad Pitt.

Anastasia from Flux
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2
min read
· Posted on
September 28, 2021

Sportsbet officially one of Australia's top advertisers

Sportsbet is up there with Harvey Norman, Coles, Woolies and the federal government for their advertising spending.

Anastasia from Flux
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2
min read
· Posted on
September 28, 2021

Robinhood will test a crypto wallet for users

Robinhood's move into crypto wallets solidifies it as a big player in the crypto game.

Anastasia from Flux
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2
min read
· Posted on
September 27, 2021

Netflix buys the exclusive rights to Roald Dahl's famous stories

Get ready for a Matilda reboot, Flux fam. Netflix has bought the Roald Dahl Story Company.

Anastasia from Flux
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2
min read
· Posted on
September 27, 2021

Around 2,000 StarTrack workers went on strike over the company's cost-cutting plans

The Transport Workers Union is fighting for more job security for StarTrack staff.

Anastasia from Flux
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2
min read
· Posted on
September 27, 2021

Afterpay goes retro with its new Money app feature - that kinda looks like a payday loan

Afterpay's latest feature, called Retro Afterpay, will let users borrow up to $200 for retrospective purchases.

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

Look out Lehman Brothers...Evergrande could be about to steal ya thunder

Evergrande is China's most indebted developer...with a casual US$300 billion worth of liabilities. Yikes.

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

Kathman-don't ya wish COVID was over?! The Aussie retailer flags tough times ahead

Kathmandu is the Aussie retailer known for its big stores... and even bigger puffer jackets.

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

Microsoft approves US$60 billion share buy-back scheme

Microsoft is sitting on US$130 billion worth of cash. But with great cash, comes great responsibility - and freedom.

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

Airwallex hits US$4 billion valuation

It's a good time to be an Aussie tech startup, with the sector seeing its biggest financial boom in history.

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

Culture Kings, Princess Polly founders prep for billion-dollar payday

The founders of these Aussie fashion brands are in for a treat.

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

WhatsApp launches in-app Yellow Pages-style business directory

The Facebook-owned messaging app, WhatsApp, is adding a business directory to its platform. Think: digital Yellow Pages.

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

Myer CEO John King slaps down the Uno reverse card and turns a $172 mil loss into a $46 mil profit

Myer's been hanging by a thread for a while now. But thankfully, things look like they're finally turning around for the department store giant.

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

Aussie tech giant Atlassian zooms past a US$100 billion market cap

Atlassian have come a long way since 2002, when their now-billionaire founders used a $10k credit card to start their own software biz.

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

Crocs expects to hit US$5 billion in revenue by 2026 and dear God, who is buying these?!

Love 'em or hate 'em, but Crocs have been killing it recently!

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

Bondi Sands won't be sold - cos if ya want something done right, ya gotta do it yourself

Bondi Sands - one of Australia's biggest DIY tanning companies - has turned down acquisition offers of around $320 million.

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

YIKES: CommBank will plead guilty over criminal charges for dodgy insurance-selling practices 

The big corporate watchdog - aka ASIC - has filed 30 criminal charges against CommBank. And with 16 million customers.... this ain't a good look for them.

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

Murdoch's Fox Entertainment buys TMZ in a deal reportedly worth ~US$50 million

TMZ - famous for its massive scoops - has been sold to none other than Aussie billionaire Rupert Murdoch's Fox Entertainment.

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

Fertility tracking app Flo raises US$50 million - and welcome to the new era of women's health

Flo is a women's health tech app that helps women track their fertility window. It's now valued at a whopping US$800 million. Yeah the girls.

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

The start-up with the world's best name, Who Gives A Crap, just raised $41.5 million

Who Gives A Crap is the Aussie toilet paper start-up that launched back in 2012. But they're not your run of the mill 3-ply toilet papers, Flux fam

Anastasia from Flux
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2
min read
· Posted on
September 23, 2021

LinkedIn is looking for content creators to join their platform - and they'll pay $$

We all know LinkedIn as the social media site targeted at professionals. Now, they're looking to grow their content with a US$25 mil creator fund.

Anastasia from Flux
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2
min read
· Posted on
September 16, 2021

Zip Co is about to hop on the Bitcoin train - destination cryptoville

Aussie buy now, pay later company Zip Co is using Bitcoin to step out of the saturated BNPL market...and into financial services.

Anastasia from Flux
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2
min read
· Posted on
September 16, 2021

Canva's doubled its valuation in 6 months - and we love to see it

Bye-bye Photoshop - you're a nightmare. We said catchya to Microsoft Paint in year 3. Now, it's hello Canva.

Anastasia from Flux
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2
min read
· Posted on
September 16, 2021

What’s the unemployment rate - and what does it mean for me?

Every month, the ABS releases stats on the labour force. But what does it all actually mean?

Anastasia from Flux
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3
min read
· Posted on
September 16, 2021

McDonald's Australia breaks the golden ad rules 

McDonald's might be the home of the golden arches...but they've broken the golden rules.

Anastasia from Flux
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2
min read
· Posted on
September 16, 2021

China wants to break up the nation's largest finance app, Alipay

If you think you're savage when it comes to Monopoly...the Chinese Government is taking things to a whole new level.

Anastasia from Flux
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2
min read
· Posted on
September 16, 2021

Amazon is building a POS system to steal merchants from Shopify

It's Mr Steal Your Merchant, and he's equipped with a new POS system that could pose a threat to Shopify's customers.

Anastasia from Flux
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2
min read
· Posted on
September 16, 2021

Disney promises to give the rest of its 2021 film releases exclusive box office runs

Disney has promised to give the rest of their film releases this year a proper go at the box office.

Anastasia from Flux
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2
min read
· Posted on
September 16, 2021

US court rules Apple can't force developers to use in-app payments 

Epic Games takes on Apple in a Battle Royale over the App Store's in-app purchase policy.

Anastasia from Flux
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2
min read
· Posted on
September 16, 2021

CommBank is being sued by a Colombian-Australian crypto group

The tensions between big banks and the cryptocurrency industry are getting more heated than a Geordie Shore ep.

Anastasia from Flux
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2
min read
· Posted on
September 16, 2021

Zuck is rocking his new smart glasses in partnership with Ray-Ban

Get ready to be creeped out, Flux fam. Facebook's just launched their new smart glasses...

Anastasia from Flux
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2
min read
· Posted on
September 16, 2021

Media companies are responsible for third-party comments on their socials...Yikes

Uh oh... media outlets are now responsible for the comments on their corporate social media pages.

Anastasia from Flux
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2
min read
· Posted on
September 16, 2021

Beer giant Lion swallows up craft brewer Stone & Wood for ~$300m

Iconic Aussie brewer Stone & Wood has been bought by Lion, in a deal worth over $300 million.

Anastasia from Flux
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2
min read
· Posted on
September 16, 2021

What’s enterprise value?

When we talk about a company's value, we often refer to its market cap. Enterprise value is a 'lil different.

Anastasia from Flux
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3
min read
· Posted on
September 10, 2021

Microsoft launches a personalised news service called Microsoft Start

You know what we need? More news sites. Thankfully, Microsoft is on it.

Anastasia from Flux
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2
min read
· Posted on
September 10, 2021

Coinbase could be getting sued by US regulators

Coinbase has been trying to launch Coinbase Lend...but regulators aren't happy about it.

Anastasia from Flux
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2
min read
· Posted on
September 10, 2021

Uber wants Australia to scrap fuel taxes

Uber's Australian boss has called the country's electric vehicle rollout 'a mess'.

Anastasia from Flux
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2
min read
· Posted on
September 10, 2021

Facebook reckons it's ready to launch its digital wallet, Novi

The Zuck never sleeps, does he? Novi and Diem could be hitting (the App) stores soon.

Anastasia from Flux
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2
min read
· Posted on
September 9, 2021

El Salvador is the first country in the world to accept Bitcoin as legal tender

Thanks to forward-thinking President and crypto fan Nayib Bukele, El Salvadorans will be able to pay with Bitcoin.

Anastasia from Flux
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2
min read
· Posted on
September 9, 2021

Microsoft is buying Brissy-based start-up Clipchamp

Kylie Jenner announces her pregnancy, and Microsoft announces a new acquisition. Obviously PR people just don't communicate anymore.

Anastasia from Flux
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2
min read
· Posted on
September 9, 2021

PayPal signals it may launch a stock-trading platform for US customers

PayPal could be launching a product into a pretty crowded space...but with 400 million customers, the odds are in their favour.

Anastasia from Flux
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2
min read
· Posted on
September 9, 2021

Mercedes Benz reveals new electrified lineup

The German luxury car manufacturer has revealed a whole lineup of cars ahead of its plans to go electrify its fleet by 2022.

Anastasia from Flux
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2
min read
· Posted on
September 9, 2021

Foxtel launches new set top box

Foxtel's finally entering the 21st century with its new iQ5 cordless set top box.

Anastasia from Flux
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2
min read
· Posted on
September 9, 2021