1 00:00:05,120 --> 00:00:08,799 Speaker 1: This is what the flux I'm brand, I'm justin and Wednesday, 2 00:00:08,840 --> 00:00:10,000 Speaker 1: the seventeenth of septem But. 3 00:00:10,080 --> 00:00:13,040 Speaker 2: Dozy boy, approximately five million Australians are going to receive 4 00:00:13,080 --> 00:00:16,000 Speaker 2: a little jump to their incomes this Friday because government 5 00:00:16,000 --> 00:00:18,560 Speaker 2: support payments are being lifted to keep up with inflation. 6 00:00:19,040 --> 00:00:22,639 Speaker 2: We are talking the age, pension, care of payments, federal 7 00:00:22,680 --> 00:00:25,759 Speaker 2: rent assistance with the allowance job seekers all getting a 8 00:00:25,800 --> 00:00:26,600 Speaker 2: little jump. 9 00:00:26,520 --> 00:00:28,520 Speaker 1: Man, did you? According to the ATO, four and a 10 00:00:28,560 --> 00:00:31,680 Speaker 1: half million tax refunds have already been issued to Aussie 11 00:00:31,720 --> 00:00:34,680 Speaker 1: taxpayers and the average tax refund has been two thousand, 12 00:00:34,840 --> 00:00:36,840 Speaker 1: six hundred and thirty nine dollars. Well, then the Flux 13 00:00:36,880 --> 00:00:40,040 Speaker 1: out Today we break down five smart ways to use 14 00:00:40,080 --> 00:00:42,239 Speaker 1: your tax refund. If you are lucky enough to get one, 15 00:00:42,320 --> 00:00:44,080 Speaker 1: make sure it download the fox out to check out 16 00:00:44,120 --> 00:00:46,080 Speaker 1: ways to use your refund effectively. 17 00:00:46,200 --> 00:00:49,360 Speaker 3: Three marvelous stories today, juzzy boy, let's do it for 18 00:00:49,400 --> 00:00:51,640 Speaker 3: our first aiden Z Bank has been hit with a 19 00:00:51,680 --> 00:00:55,160 Speaker 3: record two hundred and forty million dollar fine for widespread 20 00:00:55,200 --> 00:00:57,280 Speaker 3: misconduct across multiple divisions. 21 00:00:57,480 --> 00:00:59,200 Speaker 1: A and Z will have to empty their piggybank for 22 00:00:59,240 --> 00:01:02,000 Speaker 1: this one b man, not really actually so well, an 23 00:01:02,080 --> 00:01:04,479 Speaker 1: Z is the fourth largest bank in Australia with over 24 00:01:04,560 --> 00:01:07,480 Speaker 1: eight point five million retail and business customers. That's more 25 00:01:07,480 --> 00:01:10,440 Speaker 1: than Sydney and Brisbane's population a combined. 26 00:01:09,959 --> 00:01:12,280 Speaker 2: And Jase Boy, you may remember that just last week 27 00:01:12,319 --> 00:01:14,880 Speaker 2: Anzid was in the news for cutting its workforce by 28 00:01:14,920 --> 00:01:17,399 Speaker 2: a total number of four thousy five hundred jobs, and. 29 00:01:17,360 --> 00:01:19,240 Speaker 1: Now they're making headlines once again. 30 00:01:19,560 --> 00:01:21,800 Speaker 2: Back in twenty twenty three, AzID was trusted as one 31 00:01:21,800 --> 00:01:25,440 Speaker 2: of the managers for a fourteen billion dollar government bond deal. 32 00:01:25,280 --> 00:01:27,640 Speaker 1: That AZED submitted some of its staff had acted with 33 00:01:27,720 --> 00:01:30,440 Speaker 1: misconduct with the training of government bonds and the man 34 00:01:30,480 --> 00:01:33,200 Speaker 1: When the regulator ACIK looked into this case, they also 35 00:01:33,280 --> 00:01:36,920 Speaker 1: identified a whole range of other breaches within different divisions 36 00:01:36,959 --> 00:01:37,840 Speaker 1: of ainz Yep. 37 00:01:37,920 --> 00:01:40,520 Speaker 2: ACID found that ANZ failed to respond to a customer's 38 00:01:40,560 --> 00:01:42,640 Speaker 2: hardship notices in at a very timely manner. 39 00:01:42,640 --> 00:01:45,600 Speaker 1: They had misleading statements about their savings interest rates, failed 40 00:01:45,640 --> 00:01:49,280 Speaker 1: to refund fees charged to thousands of dead customers accounts. 41 00:01:49,320 --> 00:01:51,960 Speaker 1: So now ANZ is being slapped with a record two 42 00:01:52,080 --> 00:01:56,040 Speaker 1: hundred and forty million dollar fine for quote unconscionable conduct. 43 00:01:55,920 --> 00:01:58,240 Speaker 2: From ACID and AzID has a lot of making up 44 00:01:58,280 --> 00:01:59,800 Speaker 2: to do to its customers and regulators. 45 00:02:00,120 --> 00:02:02,440 Speaker 1: It's new CEO yep. But at least they'll be glad 46 00:02:02,480 --> 00:02:05,480 Speaker 1: to put this complex government bond saga finally behind that. 47 00:02:05,600 --> 00:02:06,880 Speaker 2: So what is the key learning here? 48 00:02:06,960 --> 00:02:10,480 Speaker 1: Government bonds are financial instruments that help governments borrow money 49 00:02:10,480 --> 00:02:13,919 Speaker 1: from investors to help fund critical services. In Australia yep. 50 00:02:13,919 --> 00:02:17,880 Speaker 2: They borrow money to fund education and infrastructure, healthcare, social 51 00:02:17,880 --> 00:02:19,040 Speaker 2: welfare and more. 52 00:02:18,880 --> 00:02:21,240 Speaker 1: And then man in return for purchasing the bond bond, 53 00:02:21,240 --> 00:02:24,120 Speaker 1: investors are promised a repayment with interest at a later date, 54 00:02:24,240 --> 00:02:26,600 Speaker 1: also known as a coupon rate. Now, in this case, 55 00:02:26,639 --> 00:02:30,240 Speaker 1: ANZID was supporting the government in selling fourteen billion dollars 56 00:02:30,400 --> 00:02:31,200 Speaker 1: worth of bonds, but. 57 00:02:31,160 --> 00:02:34,239 Speaker 2: They allegedly made trades that pushed the coupon rates higher. 58 00:02:34,320 --> 00:02:36,640 Speaker 1: High rates meant the government had to pay more interest 59 00:02:36,720 --> 00:02:37,280 Speaker 1: to invest it. 60 00:02:37,400 --> 00:02:39,919 Speaker 2: After that, an z flipped its trades and bought up 61 00:02:40,000 --> 00:02:41,760 Speaker 2: some of those bonds cheaply and. 62 00:02:41,680 --> 00:02:43,959 Speaker 1: Then made a tidy little profit when the value of 63 00:02:44,000 --> 00:02:44,960 Speaker 1: the bonds went up again. 64 00:02:45,000 --> 00:02:48,000 Speaker 2: In fact, it's believed that anzid's misconduct could have cost 65 00:02:48,000 --> 00:02:51,040 Speaker 2: the government IE taxpayers up to eighty million dollars. 66 00:02:51,400 --> 00:02:53,480 Speaker 1: So b Man that is why an Z's been whacked 67 00:02:53,520 --> 00:02:55,720 Speaker 1: with a record two hundred and forty million dollar fine. 68 00:02:55,840 --> 00:02:58,320 Speaker 1: But this is still only six point six percent of 69 00:02:58,320 --> 00:03:00,520 Speaker 1: its half yearly profit after app Wow. 70 00:03:00,560 --> 00:03:03,840 Speaker 2: For our second story, Apple has launched its biggest iPhone 71 00:03:03,840 --> 00:03:07,120 Speaker 2: design update in years with its iOS twenty six update. 72 00:03:07,200 --> 00:03:09,919 Speaker 2: But some Apple users are being left behind. 73 00:03:10,160 --> 00:03:12,680 Speaker 1: Surely Apple finally bringing AI into the iPhone. Be man, 74 00:03:12,840 --> 00:03:13,320 Speaker 1: tell me more. 75 00:03:13,520 --> 00:03:15,960 Speaker 2: Apple was founded in nineteen seventy six and held the 76 00:03:15,960 --> 00:03:18,120 Speaker 2: title of the world's most valuable company for many years, 77 00:03:18,120 --> 00:03:20,760 Speaker 2: but not anymore thanks Nvidia. And the reason for its 78 00:03:20,760 --> 00:03:23,480 Speaker 2: big fat growth was its iPhones, It's max, It's iPads, 79 00:03:23,520 --> 00:03:24,160 Speaker 2: as well as its. 80 00:03:24,040 --> 00:03:27,240 Speaker 1: Subscription services like iCloud and Apple tv Plus as well 81 00:03:27,280 --> 00:03:27,880 Speaker 1: and Jazi boy. 82 00:03:27,960 --> 00:03:30,600 Speaker 2: More than one point four billion people use iPhones globally, 83 00:03:30,639 --> 00:03:33,040 Speaker 2: so when Apple makes a software update, it's basically a 84 00:03:33,160 --> 00:03:35,960 Speaker 2: mini world event. Yeah, man, you may've heard. Last week 85 00:03:36,000 --> 00:03:40,280 Speaker 2: Apple undalt its new iPhone seventeen quote the thinnest iPhone ever. 86 00:03:40,240 --> 00:03:43,280 Speaker 1: And new Airpod's three. But now it's released a new 87 00:03:43,360 --> 00:03:46,320 Speaker 1: operating system called iOS twenty six, which has gone live. 88 00:03:46,360 --> 00:03:48,320 Speaker 2: All right, Jazzy boy, you little expert, what does this 89 00:03:48,360 --> 00:03:48,640 Speaker 2: one do? 90 00:03:48,800 --> 00:03:48,960 Speaker 3: Well? 91 00:03:49,000 --> 00:03:51,800 Speaker 1: Apple's been talking a big game about its new design 92 00:03:51,840 --> 00:03:55,480 Speaker 1: feature called liquid Glass, which supposedly transforms the look of 93 00:03:55,520 --> 00:03:56,160 Speaker 1: your lock screen. 94 00:03:56,200 --> 00:03:59,520 Speaker 2: Also, the iPhone app now includes call screening for unknown numbers. 95 00:03:59,520 --> 00:04:02,520 Speaker 1: I love that. And Apple Intelligence, which is Apple's AI system, 96 00:04:02,640 --> 00:04:06,240 Speaker 1: is finally doing something. They're adding live translation in messages 97 00:04:06,280 --> 00:04:06,920 Speaker 1: and FaceTime. 98 00:04:07,000 --> 00:04:08,920 Speaker 2: But wait, not every iPhone is compatible. 99 00:04:08,960 --> 00:04:11,880 Speaker 1: That is very true. It's only compatible with iPhones eleven 100 00:04:11,960 --> 00:04:12,440 Speaker 1: and over. 101 00:04:12,640 --> 00:04:15,600 Speaker 2: In other words, this is Apple's way of ensuring customers 102 00:04:15,680 --> 00:04:17,839 Speaker 2: need to continue upgrading their iPhones. 103 00:04:17,960 --> 00:04:19,080 Speaker 1: What is the key leaning here? 104 00:04:19,240 --> 00:04:21,680 Speaker 2: Software updates are pitched as a way to breathe new 105 00:04:21,720 --> 00:04:24,120 Speaker 2: life into your phone, but they can also have the 106 00:04:24,120 --> 00:04:27,440 Speaker 2: opposite effect over time, Big updates often slow down older 107 00:04:27,480 --> 00:04:30,800 Speaker 2: devices or limit which features are available. And jaziboit. While 108 00:04:30,800 --> 00:04:34,200 Speaker 2: it's not always intentional, it's often enough to frustrate users 109 00:04:34,200 --> 00:04:36,160 Speaker 2: so that they're forced to buy a newer iPhone. 110 00:04:36,160 --> 00:04:38,640 Speaker 1: But sometimes being there, it is intentional as well well. 111 00:04:38,640 --> 00:04:41,680 Speaker 2: I remember in twenty seventeen when Apple admitted to deliberately 112 00:04:41,839 --> 00:04:44,760 Speaker 2: limiting speeds on devices with aging batteries, and. 113 00:04:44,720 --> 00:04:47,640 Speaker 1: They settle this case in America for five hundred million 114 00:04:47,720 --> 00:04:48,320 Speaker 1: US dollars. 115 00:04:48,320 --> 00:04:50,200 Speaker 2: For Apple, this cycle is very powerful. 116 00:04:50,279 --> 00:04:52,880 Speaker 1: Yeap. It keeps the long term users engaged while quietly 117 00:04:53,120 --> 00:04:54,560 Speaker 1: encouraging hardware sales. 118 00:04:54,600 --> 00:04:58,000 Speaker 2: For our third and final story, Kerring, the owner of 119 00:04:58,000 --> 00:05:01,400 Speaker 2: Gucci and Balenciaga, has us for more time to acquire 120 00:05:01,480 --> 00:05:04,880 Speaker 2: luxury fashion brand Valentino as its new CEO shifts its 121 00:05:04,880 --> 00:05:06,160 Speaker 2: focus to cutting debt. 122 00:05:06,240 --> 00:05:09,360 Speaker 1: High fashion, high debt, high stakes. Be man, so tell 123 00:05:09,400 --> 00:05:09,839 Speaker 1: me more so. 124 00:05:09,880 --> 00:05:12,080 Speaker 2: The name Caring may not ring a bell for everyone, 125 00:05:12,160 --> 00:05:14,039 Speaker 2: but they're behind some of the biggest luxury brands that 126 00:05:14,040 --> 00:05:14,279 Speaker 2: we know. 127 00:05:14,400 --> 00:05:17,760 Speaker 1: We're talking to Gucci in Saint Laurent, Valencia, Yaga. 128 00:05:17,360 --> 00:05:19,640 Speaker 2: And Josei Wait. Back in twenty twenty two, Carrying shelled 129 00:05:19,680 --> 00:05:22,760 Speaker 2: out one point seven billion euros for just thirty percent 130 00:05:22,760 --> 00:05:23,880 Speaker 2: of Valentino that's. 131 00:05:23,760 --> 00:05:26,000 Speaker 1: Another luxury brand, and they had an option to buy 132 00:05:26,000 --> 00:05:28,040 Speaker 1: the rest of Valentino by twenty twenty eight. 133 00:05:28,080 --> 00:05:30,920 Speaker 2: But now Valentino's new CEO has said that cutting its 134 00:05:31,000 --> 00:05:33,120 Speaker 2: debt and costs is top pariti. 135 00:05:33,200 --> 00:05:35,720 Speaker 1: Yep. That's because Kerring's net debt jumped twenty four percent 136 00:05:35,800 --> 00:05:38,120 Speaker 1: last year to over ten and a half billion. 137 00:05:37,760 --> 00:05:40,479 Speaker 2: Euro and so now Kerring has asked for this twenty 138 00:05:40,480 --> 00:05:43,400 Speaker 2: twenty eight option to be pushed out to twenty twenty nine. 139 00:05:43,240 --> 00:05:46,080 Speaker 1: And the Katar Fund may Hauler, which owns the seventy 140 00:05:46,120 --> 00:05:48,239 Speaker 1: percent remainder of Valentino, has accepted. 141 00:05:48,400 --> 00:05:50,680 Speaker 2: So this will give Caring more time to get on 142 00:05:50,720 --> 00:05:52,680 Speaker 2: top of their debt and still have the chance to 143 00:05:52,760 --> 00:05:53,919 Speaker 2: take over Valentino. 144 00:05:54,400 --> 00:05:55,720 Speaker 1: So what is the key learning here? 145 00:05:55,800 --> 00:05:58,120 Speaker 2: An option is like a try before you buy arrangement 146 00:05:58,160 --> 00:05:59,560 Speaker 2: when it comes to an acquisition YEA. 147 00:05:59,640 --> 00:06:02,400 Speaker 1: Instead of committing billions up front, a company can purchase 148 00:06:02,520 --> 00:06:04,240 Speaker 1: part of the target company. 149 00:06:03,920 --> 00:06:06,720 Speaker 2: And secure the option to buy the rest later and 150 00:06:06,800 --> 00:06:07,159 Speaker 2: be man. 151 00:06:07,200 --> 00:06:09,600 Speaker 1: This gives them time to assess the company's performance as 152 00:06:09,640 --> 00:06:11,400 Speaker 1: well as market conditions before. 153 00:06:11,080 --> 00:06:14,119 Speaker 2: Locking in the full price YEAP. Importantly, Jazuboy, the option 154 00:06:14,240 --> 00:06:16,880 Speaker 2: is not an obligation, and we've seen this play out before. 155 00:06:17,000 --> 00:06:19,919 Speaker 2: Remember all Disney and Hulu YEP. Disney first acquired a 156 00:06:19,960 --> 00:06:22,159 Speaker 2: minority stake in Hulu in two thousand. 157 00:06:21,839 --> 00:06:24,080 Speaker 1: And nine, then, through a series of deals, it gained 158 00:06:24,120 --> 00:06:26,880 Speaker 1: the option to buy the remainder of Hulu from Comcast. 159 00:06:27,000 --> 00:06:30,080 Speaker 2: In twenty twenty three, Disney exercised that option and valued 160 00:06:30,120 --> 00:06:32,039 Speaker 2: Hulu at eight point six billion US. 161 00:06:31,880 --> 00:06:34,640 Speaker 1: Dollars, So be man. At these stage, deals give companies 162 00:06:34,720 --> 00:06:37,440 Speaker 1: room to adapt based on the circumstances. 163 00:06:36,800 --> 00:06:39,080 Speaker 2: And while Disney went all in, it seems like Caring 164 00:06:39,200 --> 00:06:41,799 Speaker 2: wants to buy more time before making its big decision. 165 00:06:42,080 --> 00:06:43,960 Speaker 1: Fox Sam, if you've been lucky enough to hit a 166 00:06:44,080 --> 00:06:46,679 Speaker 1: tax refund so far, we show you five smart ways 167 00:06:46,720 --> 00:06:49,320 Speaker 1: to use your tax refund effectively. Make sure to check 168 00:06:49,360 --> 00:06:51,560 Speaker 1: out the plus out for a whole lot of tax goodness. 169 00:06:51,600 --> 00:06:54,040 Speaker 2: Thanks for listening, and we'll see you on Friday.