Speaker 1: This is the flax I'm brand, I'm justin and it's Monday,
Speaker 1: that fifteenth of July.
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Speaker 2: Elon Musk has pushed it back until October because it
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Speaker 2: Tesla shares dropped ten percentile is.
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Speaker 2: Flux out three got there in the end stories today,
Speaker 2: let's do it for our first crowd. Resorts has sold
Speaker 2: its twenty percent steak in the Nobu restaurant chain, and
Speaker 2: this sale values the chain at one point three billion Schmacko,
Speaker 2: Holy sushi rolls.
Speaker 1: That is surprisy, sushimib Man, so tell me more well,
Speaker 1: juz Boy. A bit of background.
Speaker 2: Nobu is the high profile restaurant chain that was established
Speaker 2: by a celebrity chef named Nobu Matsuhisa in nineteen ninety four.
Speaker 1: Very good. This is alongside his old pals Robert de
Speaker 1: Niro you may know him and film producer and the
Speaker 1: EU Tepper don't know him and Jazi Boy.
Speaker 2: When James Packer became buddies with Robert de Niro, he
Speaker 2: didn't just join their movie nights. He also tipped in
Speaker 2: one hundred million US dollars into Nobu in twenty fifteen,
Speaker 2: and that was under.
Speaker 1: The Crown Resorts business, which he half owned now Jazi Boy.
Speaker 2: Nobu has grown to thirty six restaurants around the universe,
Speaker 2: including in Crown Casinos, in Your Melbourne's, Your Sydney's, and
Speaker 2: Your Perth, as well as.
Speaker 1: Nineteen Nobu hotels talk about sushi for breakfast.
Speaker 2: Lunch and dinner, and now Crown Resorts is selling It's
Speaker 2: twenty percent steak in Nobu for one hundred and eighty
Speaker 2: million US dollars eighty.
Speaker 1: Percent growth in nine years, not bad at all.
Speaker 2: And this value is Nobu's business at one point three
Speaker 2: billion that is more than the value.
Speaker 1: Of Collins Foods, which is the owner of the KFC's
Speaker 1: in Australia and Jose Boy.
Speaker 2: After scandals Galare dot Com, Crown is selling at steak
Speaker 2: to focus on its core assets.
Speaker 1: So what is the key learning here?
Speaker 2: Sometimes a business needs to do its own Marie Condo
Speaker 2: and declutter.
Speaker 1: It's a business focus, or, as they call it in
Speaker 1: the corporate world, a strategic divestiture. Crown has faced a
Speaker 1: heap of scandals over the past few years. It was
Speaker 1: found to a facilitated money laundering.
Speaker 2: It's Sydney casino license was suspended for a hot minute there.
Speaker 1: So be man. Now Crown Casino's new private equity owner
Speaker 1: is trying to sharpen the sushi knife and focus on
Speaker 1: Crown's core offering.
Speaker 2: And having a steak in. Companies like Nobu are delicious,
Speaker 2: but arguably become a bit of a distraction.
Speaker 1: So be man. The cash from the sale could be
Speaker 1: used to reinvest in the Crown business, particularly after it
Speaker 1: lost two hundred million bucks last year.
Speaker 2: For our second story, she In is investing two hundred
Speaker 2: and seventy million US dollars into sustainable fashion businesses as
Speaker 2: it looks to put its best foot forward ahead of
Speaker 2: a potential IPO in London.
Speaker 1: Sounds a bit like two hundred and seventy mil for
Speaker 1: damage control. So what is going on here? Well?
Speaker 2: She In is the online fashion retailer catered to gen
Speaker 2: Z that popped off in twenty twenty thanks took yep.
Speaker 1: It's known for its endless array of designs, she and
Speaker 1: halls and kind of scarily low prices on clothing, and.
Speaker 2: Its questionable environmental impact and labor practices.
Speaker 1: But now be man, Shean's announced it will invest two
Speaker 1: hundred and seventy million US dollars in a fund in
Speaker 1: the UK and Europe to tackle fashion waste and Josie Boyd.
Speaker 2: This news has come just a month after she In
Speaker 2: very quietly filed an IPO application in London.
Speaker 1: Interesting timing, I must say.
Speaker 2: Now, the fund's money will go towards businesses and startups
Speaker 2: that are building textile recycling technology.
Speaker 1: As well as regional brands and designers yep.
Speaker 2: It's called the Circularity Fund, and it's Shean's first major
Speaker 2: step into the circular economy.
Speaker 1: So what is the key learning here?
Speaker 2: Circular economic models are taking the fashion industry by storm.
Speaker 1: In fashion, the circular economy is all about minimizing waste
Speaker 1: and extending the life cycle of clothes.
Speaker 2: The idea is to create business models where fashion brands
Speaker 2: can generate revenue from more ways than just selling new clothes.
Speaker 1: Think reselling, think renting, think recycling.
Speaker 2: The irony of this coming from Shean, which creates about
Speaker 2: six point three million tons of carbon dioxide per year.
Speaker 1: And get this, be Man, a global switch to the
Speaker 1: circular economy could unlock five hundred and sixty billion US
Speaker 1: dollars of economic opportunity for the industry. That's according to
Speaker 1: your good friends of the Ellen MacArthur Foundation. Does and
Speaker 1: be Man, there are a number of big brands that
Speaker 1: are getting behind the circular business model, like.
Speaker 2: Ted Baker, Primark, h and M Group, even Patagonia.
Speaker 1: Do not put you in and Patagonia in the same
Speaker 1: Truecian's entering the circular economy a little differently. It's investing
Speaker 1: in businesses that are already making strides in the space,
Speaker 1: rather than bringing its initiatives in house.
Speaker 2: So until we see some results, it's hard to know
Speaker 2: if this is a meaningful effort or just a way.
Speaker 1: To offload their responsibility while still getting credit for its
Speaker 1: sustainability efforts. For our third and final story, BHP has
Speaker 1: announced plans to let go of thousands of employees after
Speaker 1: facing intense nickel mining competition in Indonesia. You'l sweoped by
Speaker 1: the Indonesian mines b man very south western Australia, though,
Speaker 1: so tell me more.
Speaker 2: BHP is the asxisted mining and metals company founded in
Speaker 2: eighteen eighty five in Broken Heel and.
Speaker 1: Beachp's growing to over eighty thousand employees and happens to
Speaker 1: be the largest company in Australia at by market value
Speaker 1: correction alert.
Speaker 2: They were the largest before combat Combank had dethrone them
Speaker 2: last week, and.
Speaker 1: That's because not all is going so well in BHP
Speaker 1: world yep.
Speaker 2: Late last week, BEACHP announced plans to pause or mothball
Speaker 2: it's nickel mine in wa for up to three years,
Speaker 2: and this will impact the jobs of over three thousand
Speaker 2: BHP employees who've been working in this mind now. BHP
Speaker 2: has already written down the value of its nickel minds
Speaker 2: by nearly four million dollars just this.
Speaker 1: Year, and they just can't compete with the prices and
Speaker 1: quantity of nickel coming out of competing nations like Indonesia.
Speaker 2: Interesting, Jesse Boys, So what is the key learning here?
Speaker 2: When it rains nickel, it paus nickel. Right now it
Speaker 2: is BHP has faced a perfect storm of challenges in
Speaker 2: the nickel industry.
Speaker 1: First, nickel is a key material for electric vehicles, you
Speaker 1: know those cars that have become popular but were supposed
Speaker 1: to be taken over the entire year universe by now.
Speaker 1: Unfortunately for BEAGP, the demand for nickel from electric vehicle
Speaker 1: manufacturers has slowed down dramatically. The other hand, supply is
Speaker 1: actually up big time. Yep. Indonesia has started to produce
Speaker 1: a heap of nickel at much cheaper prices that it's
Speaker 1: Australian's competitors.
Speaker 2: And as a result, the price of nickel has dropped
Speaker 2: from around twenty five thousand US dollars a ton in
Speaker 2: twenty twenty two just over sixteen thousand US dollars a ton.
Speaker 2: Now that's a drop of thirty six percent in the
Speaker 2: price of nickel, and jesyboy, Beachp aren't the only one
Speaker 2: struggling with the new competition from Indonesian minds. We've seen
Speaker 2: four other major nickel minds in Australia shut down over
Speaker 2: the past twelve months because right now Australian metal just
Speaker 2: can't compete in an oversupplied market.
Speaker 1: Did you know seventy four percent of Australians have no
Speaker 1: idea where their money is going every single month, and
Speaker 1: that is part of the reason why we created the
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Speaker 1: Thanks for listening and we'll see you on a webesday.