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Speaker 1: This is what the Flux. I'm Brett and I'm justin

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Speaker 1: and Wednesday, the ninth of April, jusey boy. The last

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Speaker 1: few days have been wild on the share market, with

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Speaker 1: many calling Monday's movements as Mayhem Monday. We do love

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Speaker 1: a silver lining, though, juzzy boy. So if there's one

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Speaker 1: thing to like about this mayhem, there are whispers that

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Speaker 1: the RBA could cut the cash right yero point five

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Speaker 1: percent at their next meeting in May. And those whispers

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Speaker 1: aren't from just any Joe Blow. This has come from

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Speaker 1: the treasurer So here he is hoping. Yeah, Fox Am.

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Speaker 2: A few weeks ago, you've probably never heard of the

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Speaker 2: word tariff, but now the word tariff is suddenly everywhere.

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Speaker 2: We're talking new speeds, podcasts, dinner table debates.

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Speaker 1: We've done a deep dive into.

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Speaker 2: What tariffs are, what the impact of them are, so

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Speaker 2: make sure to download the Flux app to check it out.

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Speaker 1: Three informative stories today, Juzzy boy, Let's do it for

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Speaker 1: our first. Australia's larger super funds were hit in a

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Speaker 1: coordinated cyber attack, with thousands of accounts hacked into, and

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Speaker 1: now the regulators want answers. Man we know this. Super

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Speaker 1: funds are carrying a whole lot of Mueller, So tell

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Speaker 1: me what's going on here? All right? Well, we know

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Speaker 1: that the superannuation is money put aside by your employer

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Speaker 1: over your working life. And does it boy. Australia's superindustry

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Speaker 1: is a whopper. It's worth more than four point two

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Speaker 1: trillion dollars as at the end of last year, and

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Speaker 1: be man.

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Speaker 2: It's grown by nearly eight hundred billion in just the

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Speaker 2: last four years alone.

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Speaker 1: Now, late last week, some of the largest super funds

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Speaker 1: in Australia suffered a coordinated cyber attack.

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Speaker 2: We'd be talking Australian Super, Australian Retirement Trust, host Plus

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Speaker 2: Rest and Insignia Out. They were all hacked at the

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Speaker 2: very same time.

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Speaker 1: The attack targeted retiree superfund customers, who can legally take

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Speaker 1: money out of their accounts. And right now b MAN

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Speaker 1: Australian Super is the only fund to report that money

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Speaker 1: was actually stolen. Four members lost around five hundred thousand

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Speaker 1: dollars and be Man. Other super funds claim no members

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Speaker 1: have lost money yet, even though thousands of accounts were compromised.

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Speaker 2: They'd now be man Apra, which is the financial Institution

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Speaker 2: Watchdog has warned all super funds to come forward asap.

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Speaker 1: Or else ominous. So what is the key learning here?

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Speaker 1: Security isn't just about tech. It's a major trust issue.

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Speaker 1: You see, seventy three percent of Australians trust their super

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Speaker 1: funds over the government according to the Financial Services Council.

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Speaker 1: That is huge. Superfunds are meant to be the cornerstone

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Speaker 1: of Australian retirement, so any sign of weakness can rattle

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Speaker 1: millions of members and the man.

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Speaker 2: Typically we think of cyber attacks as targeting big banks

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Speaker 2: or big tech firms.

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Speaker 1: But superfunds are prime targets because one they have huge

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Speaker 1: pools of money, two they have valuable personal data, and

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Speaker 1: three many of them have an older demographic of customers

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Speaker 1: that might not have the digital know how if something

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Speaker 1: strange is going on. Interestingly, be man APRA didn't order

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Speaker 1: on the major super funds two years ago and they

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Speaker 1: found foundational issues with their cybersecurity. So Jazi boit seems

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Speaker 1: like it was only a matter of time until these

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Speaker 1: gaps were exploited. For our second story, Star Entertainment lives

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Speaker 1: to gamble another day after receiving three hundred million dollars

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Speaker 1: in survival funds, but it will lose control of the

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Speaker 1: company's metament in exchange. Bets are off, Juzzy boy, because

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Speaker 1: this is surely Star's final roll of the dice. Tell

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Speaker 1: me more, Okay.

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Speaker 2: So Star Entertainment is the ASX listed Australian casino group

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Speaker 2: behind some big name venues. We're talking to the Star Sydney,

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Speaker 2: the Starburys Vegas and the Star Gold Coast.

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Speaker 1: Now, over the past few years, Star Entertainment has faced

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Speaker 1: a heap of scandal.

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Speaker 2: Yeah, from turning a blind item money laundering within the casino.

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Speaker 1: To poor financial management. By the biggest problem for Star

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Speaker 1: is that it's running out of cash and it's happening fast.

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Speaker 2: So now, rather than collapse, Bally's Corporation has come to

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Speaker 2: the rescue.

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Speaker 1: Yep. Bally's is the owner of nineteen casinos in the

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Speaker 1: US and they've.

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Speaker 2: Committed to investing two hundred and fifty million dollars into

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Speaker 2: Star Entertainment.

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Speaker 1: While Star's bigger shareholder will also tip in fifty mil.

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Speaker 2: Thankfully for starb Man, this new cash will help Star

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Speaker 2: meet its urgent financial obligations, but.

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Speaker 1: Once the deal goes through, it will give Bali's majority

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Speaker 1: control of Star Entertainment, So what is the key learning here?

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Speaker 1: When a company is backed into a financial corner, it

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Speaker 1: often has to give up control to survive.

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Speaker 2: A man Star situation shows how far things can unwrap

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Speaker 2: real fast.

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Speaker 1: A few years ago Star was riding high with new

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Speaker 1: property developments and casino revamps.

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Speaker 2: But over the last few years it had legal battles,

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Speaker 2: it had financial missteps and crumbling revenue.

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Speaker 1: So its only path forward was external investment.

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Speaker 2: And now Bali's with its majority stake, can call the

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Speaker 2: shots man. Remember back in twenty seventeen when Channel ten

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Speaker 2: went into voluntary administration, I do and then it was

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Speaker 2: touch and go for a while, but it was rescued

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Speaker 2: by US media giant CBS.

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Speaker 1: CBS wiped out existing shareholders and took full control.

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Speaker 2: And while the deal kept Ten on air, it resulted

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Speaker 2: in a major power shift in Australian media.

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Speaker 1: So sometimes the price of survival is handing over the

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Speaker 1: keys to the castle, or in this case, the chips

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Speaker 1: in the casino. For our third and final story, Donald

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Speaker 1: Trump has extended TikTok's deadline for finding a new US

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Speaker 1: owner again as negotiations with major US investors heat up.

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Speaker 2: Seems like that's a bit too much going on with

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Speaker 2: collapsing markets right now, b Man can't even focus on TikTok,

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Speaker 2: So tell me more.

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Speaker 1: Well. TikTok obviously is owned by Chinese tech giant ByteDance

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Speaker 1: and launched globally in twenty seventeen.

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Speaker 2: Since then, it's grown to nearly one hundred and thirty

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Speaker 2: six million monthly active users in the US.

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Speaker 1: And a lazy eight and a half million monthly actives

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Speaker 1: in humble ad Australia as well.

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Speaker 2: By the way, yep, but be Man, remember last year

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Speaker 2: the US government passed the law the ban TikTok if

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Speaker 2: it wasn't sold to a US company by January this year.

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Speaker 2: But then when Donald Trump came into office, he said,

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Speaker 2: we'll give you seventy five days to find.

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Speaker 1: A new owner. And since then there has been a

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Speaker 1: swarm of tech companies and investors wanted to get their

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Speaker 1: algorithmic hands on TikTok.

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Speaker 2: We're talking companies like Ohra, Cool and Microsoft, even Amazon.

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Speaker 1: While investors like Blackstone and Trees and Horowitz have also

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Speaker 1: reportedly submitted a proposal to acquire TikTok.

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Speaker 2: Now, be Man technically without a new owner by early April,

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Speaker 2: TikTok should be shut down in the US.

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Speaker 1: But now Trump has signed a new executive order giving

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Speaker 1: TikTok another seventy five days to finalize a deal.

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Speaker 2: And this all comes after Donny J. Trump announced fifty

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Speaker 2: four percent tariffs on China.

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Speaker 1: But he did say that if TikTok sells to a

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Speaker 1: US buyer, you may consider reducing the tariffs. Interesting, So

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Speaker 1: what is the key learning here? Tariffs are not just

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Speaker 1: a trade tool, They're a bargaining chip in economic negotiation.

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Speaker 2: You see be Man, Trump's fifty four percent tariff on

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Speaker 2: Chinese goods is going to cause enormous pain.

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Speaker 1: But Trump has dangled a carrot to China lower tariffs

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Speaker 1: in exchange for the sale of TikTok and be Man.

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Speaker 1: This shows how these tariffs have been used to achieve

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Speaker 1: a totally unrelated outcome. Let this deal happen, or your

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Speaker 1: exports pay the price.

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Speaker 2: Yeah, the downsize is that this deal making is actually

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Speaker 2: creating market volatility.

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Speaker 1: Not to forget the old retaliation that it welcomes.

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Speaker 2: It's already happened with China whacking a thirty four percent

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Speaker 2: tariff on US imported goods.

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Speaker 1: So right now the US and China are in a

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Speaker 1: tariff and TikTok stand off. The big question is who

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Speaker 1: will blink first.

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Speaker 2: Tariffs have jumped from boring economic textbooks to mainstream chad up,

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Speaker 2: so what exactly.

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Speaker 1: Is it and why should you care?

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Speaker 2: We've got the latest tea all in the What's app,

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Speaker 2: so make sure to check it out.

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Speaker 1: Thanks for listening, and we'll see you on Friday.