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

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Speaker 1: it's Wednesday, the sixteenth of July. Josey Boyd.

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Speaker 2: Does the number eighty six hundred and thirty mean anything

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Speaker 2: to you?

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Speaker 1: Anything at all?

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Speaker 2: It does well, it means a lot to the ASX

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Speaker 2: because the ASX two hundred just closed at a fresh

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Speaker 2: record yesterday afternoon. Seems like investors aren't too concerned about

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Speaker 2: Trump's latest tariffs or a decline in the Chinese economy.

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Speaker 2: It's all up, up and up, particularly in tech and healthcare.

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Speaker 1: Interesting man, speaking of the ASEX two hundredth did you

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Speaker 1: know what gained ten point two percent in the last

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Speaker 1: financial year. It was a very big year, and we

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Speaker 1: cover off in the Flux app the top five best

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Speaker 1: performing shares from the ASEX two hundred last financial year.

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Speaker 1: There are some juicy companies in there that I personally

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Speaker 1: did not expect at all the flux am. If you're

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Speaker 1: keen to learn what the top five performers on the

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Speaker 1: ASEX two hundred was the last financial year, make sure

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Speaker 1: to check it out in the Flux app.

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Speaker 2: Three non personalized advice stories today, Jazzy Boyd, let's do

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Speaker 2: it for our first the RBA has read commended a

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Speaker 2: ban on search charges for debit and credit card payments

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Speaker 2: in Australia in a plan to save shoppers over one

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Speaker 2: billion dollars.

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Speaker 1: Australia's payment system finally entering a new era. So tell

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Speaker 1: me what is going on here?

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Speaker 2: So you know that little fee that gets added on

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Speaker 2: top of your coffee when you pay with card, juzzy boy,

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Speaker 2: as if.

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Speaker 1: The coffee wasn't expensive enough, b Man by six dollar

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Speaker 1: coffee ends up being six dollars and twenty one cents.

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Speaker 2: That is a surcharge and it's meant to help businesses

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Speaker 2: cover the costs that they are charged by payment facilitators

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Speaker 2: like Visa or MasterCard.

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Speaker 1: But b Man, Australia's payment landscape has changed a lot

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Speaker 1: since the early two thousands.

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Speaker 2: That is right, cash is out, card is the new king.

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Speaker 1: And now the RBA is recommending three key changes to

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Speaker 1: Australia's payment system.

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Speaker 2: All right, Numero Uno is banned surch charges on all

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Speaker 2: debit and credit transaction and.

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Speaker 1: That's supposed to save shoppers at one point two billion

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Speaker 1: dollars per year, or sixty dollars a year for each

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Speaker 1: card using adult.

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Speaker 2: Next, they want banks to spill the beans on their

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Speaker 2: hidden fees.

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Speaker 1: And finally, the RBA want Australia's major banks to reduce

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Speaker 1: their inter change fees.

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Speaker 2: That's the fees charged to businesses by payment facilitators for

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Speaker 2: using cars.

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Speaker 1: But be man at these changes, although exciting and not

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Speaker 1: locked in yet.

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Speaker 2: For the next six weeks, the RBA will continue consulting

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Speaker 2: on these recommendations.

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Speaker 1: So what is the key learning here?

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Speaker 2: As ossies have traded in cash payments for cards, the

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Speaker 2: payment system has not kept up.

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Speaker 1: You get this. A national RBA survey showed that usage

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Speaker 1: of cash dropped by more than half in twenty twenty two.

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Speaker 2: Down to just thirteen percent of total payments in Australia.

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Speaker 1: Yet be Man, we're still getting pinged fees like it's

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Speaker 1: two thousand and three.

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Speaker 2: Aussie retailers are still being hit with a fee which

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Speaker 2: is then passed on to shoppers when using a car.

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Speaker 1: But the question is if shoppers aren't paying the surcharge

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Speaker 1: anymore in the future, someone else will be.

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Speaker 2: And that someone else could be businesses.

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Speaker 1: Which puts a lot of pressure on small business margins.

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Speaker 2: So unless the RBA also forces payment giants to lower

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Speaker 2: their fees, this policy might just shift the pain instead

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Speaker 2: of actually fixing it.

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Speaker 1: Fox Am. Before we jump into our second story today,

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Speaker 1: you'll all know that this month in the Flex Academy

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Speaker 1: we're talking all about Lender's Mortgage Insurance in partnership with Helia.

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Speaker 1: So today we're very excited to have Sharona join us

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Speaker 1: in the pod, who successfully used Elmai to get on

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Speaker 1: the property ladder. Sharona, welcome to What the Fox.

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Speaker 3: Thank you. It's great to be here.

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Speaker 1: You are a property owner, congratulations on that.

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Speaker 3: Thank you.

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Speaker 1: When you're going into buying a property. What we were

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Speaker 1: original property goals and did they shift it all once

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Speaker 1: you looked at what was achievable in the Sydney market.

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Speaker 3: Yeah, absolutely, I mean the Sydney market's always been really crazy.

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Speaker 3: We've always wanted to live in the Hills district in

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Speaker 3: Sydney and you know, it's unreasonable for us to do

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Speaker 3: that at this stage, so we just thought an investment

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Speaker 3: property was just a really good way to get our

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Speaker 3: foot in the door.

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Speaker 1: And Sharona, did you know much about the concept of

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Speaker 1: rent vesting before you went down this path?

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Speaker 3: Yes and no, we had heard about it and we

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Speaker 3: had an idea, but since then we've definitely learned more.

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Speaker 3: I mean, like you know, there's great tax benefits, then

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Speaker 3: there is also some cons there's not really stability and

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Speaker 3: you are moving home to home a bit. But I

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Speaker 3: think now the concepts much more talked about in the

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Speaker 3: media and there's definitely more educational resources of it. Then

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Speaker 3: when we first started looking.

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Speaker 2: Definitely agree And how did you come to learn about

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Speaker 2: Lender's Mortgage Insurance?

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Speaker 3: With Lender's Mortgage Insurance or LMI, our mortgage broker really

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Speaker 3: helped us understand and explain it to us. We had

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Speaker 3: an idea of what it is, but you know, he

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Speaker 3: really went through like the pros and cons then what

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Speaker 3: that's going to look like. And we didn't have the

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Speaker 3: required deposit, so was you know, from the very beginning,

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Speaker 3: we knew that we need to use LMI if we

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Speaker 3: want to go down this path.

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Speaker 1: Johnnie, you mentioned you didn't have the required deposit, So

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Speaker 1: what difference did lm I make to what you thought

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Speaker 1: was possible compared to what was actually possible In the end.

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Speaker 3: I mean, it absolutely opened the door for us to

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Speaker 3: a lot more opportunities with you know, an investment property

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Speaker 3: we weren't able to use like the government schemes. So

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Speaker 3: if we didn't have LMI, a house in the Sydney

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Speaker 3: market would have been out of the question for us.

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Speaker 3: We would have needed to settle for an apartment, which

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Speaker 3: isn't really what we're looking for, or you know, purchasing

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Speaker 3: someone like risbon on Perth, which is just a bit

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Speaker 3: more complicated. So the only reason we were able to

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Speaker 3: buy what we could was because we used Elmi.

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Speaker 2: Did you and your partner have any worries about going

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Speaker 2: in with less than a twenty percent deposit?

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Speaker 3: Absolutely, I mean you are taking a be here alone,

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Speaker 3: and there is also an additional cost involved were taking ELMI.

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Speaker 3: But ultimately, when we really looked at the numbers and

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Speaker 3: looked at the costs, we realize it's pretty insignificant. The

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Speaker 3: property growth and the equity that we've gotten from the

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Speaker 3: property has more than made up for it. And essentially

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Speaker 3: we just thought, you know, this is the only path

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Speaker 3: for us.

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Speaker 1: So what advice would you give someone who's sitting on

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Speaker 1: a deposit right now that's almost enough for them to

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Speaker 1: buy a property but not quite twenty percent.

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Speaker 3: I would say, absolutely, one thousand percent use LAMAI. But

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Speaker 3: it's the only way that works. Otherwise other options is

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Speaker 3: just saving more and by the time you say it

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Speaker 3: almost feels like, you know, houses are out of budget

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Speaker 3: again because of just growing house prices. There is an

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Speaker 3: extra cost involved, of course, but for us it was

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Speaker 3: so worth it. We're now looking into buying a property

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Speaker 3: to live in and we're absolutely going to be using

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Speaker 3: Elmi again. I mean if we had waited for the

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Speaker 3: last two years and didn't have the property to begin

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Speaker 3: with and be benefiting from the property growth, so we

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Speaker 3: would have really missed out.

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Speaker 1: Awesome. Sounds like you've had a great experience with LMI. Schroiner,

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Speaker 1: and congrats for getting on the property ladder. Thank you,

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Speaker 1: thank you so much for our second story. Craft Hines

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Speaker 1: is weighing up a big corporate breakup only ten years

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Speaker 1: after Craft and Heines got together.

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Speaker 2: Power couple know more what the Craft singles is going

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Speaker 2: on here?

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Speaker 1: Okay? So, Kraft Heigns is a global food company. It

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Speaker 1: was created in twenty fifteen through a merger between Craft

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Speaker 1: Foods and Heines.

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Speaker 2: Now Craft Foods being the maker of Craft Macaroni and Cheese,

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Speaker 2: Philadelphia Cream Cheese, as well as Oreo and Ritz.

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Speaker 1: Heines is obviously the maker of the famous ketchup the

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Speaker 1: baked Beans as well as Golden Circle here in Australia.

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Speaker 2: Now, this mega merger was backed by Man the Myth,

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Speaker 2: the legend, Warren Buffett and his firm Berkshire Hathaway, but

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Speaker 2: be Man.

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Speaker 1: After a decade as a committed family unit, Kraft HNS

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Speaker 1: is reportedly planning to split itself into two.

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Speaker 2: Who gets custody of the cheddar cheese Jesse Boy.

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Speaker 1: In the one business they would have their high growth

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Speaker 1: condiments and sources.

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Speaker 2: In the other business they would have grocery staples like

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Speaker 2: cheese and meats.

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Speaker 1: What's the reason for this potential Slipbeaman.

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Speaker 2: Well, there has been rising competition from private label brands

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Speaker 2: from supermarkets.

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Speaker 1: And also a big shift towards healthy foods or no

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Speaker 1: food at all yep.

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Speaker 2: Weight loss drugs like ozempic a squeezing big food brands globally.

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Speaker 2: So what's the key learning here? Is a time for

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Speaker 2: merging and a time for demerging, and a time to

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Speaker 2: acknowledge your cheesy dreams didn't quite pan out as expected.

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Speaker 1: When Craft and Heines came together in twenty fifteen. The

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Speaker 1: goal was to build a global consumer goods.

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Speaker 2: Powerhouse, one that could compete with Unileva and Neslite.

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Speaker 1: Think he was bigger, equals better.

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Speaker 2: But nearly a decade later, it turns out some parts

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Speaker 2: of the business have pulled their weight Hello Heines sources, while.

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Speaker 1: Others like Oscarmeia Meats are lagging behind.

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Speaker 2: In fact, by twenty nineteen, just four years after the

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Speaker 2: merger out Kraft Heines wrote down the value of some

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Speaker 2: of their brands by more than fifteen billion US dollars.

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Speaker 1: On top of that, the share price has lost more

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Speaker 1: than sixty percent since the merger.

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Speaker 2: So now, the idea is that by splitting up the business,

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Speaker 2: it could give each division the chance to shine on

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Speaker 2: its own. And it's the example of a split up

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Speaker 2: recently b Man, where we saw Kellogg's split up its

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Speaker 2: business into Kelenova, which owns snackety snacks like pringles and

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Speaker 2: pop tarts, while wh Keller co owns the US serial business.

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Speaker 2: So Juzzy Boy, Well, mergers can promise synergies. Sometimes the

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Speaker 2: cleaner story is two separate businesses.

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Speaker 1: For our third and final story, SpaceX is reportedly investing

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Speaker 1: two billion US dollars into Xai because when Elon Musk

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Speaker 1: borrows money, he borrows it from himself.

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Speaker 2: Forget bank loans. Musk's idea of fundraising is just asking

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Speaker 2: himself nicely, tell me more.

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Speaker 1: Okay. So SpaceX is the aerospace company over four hundred

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Speaker 1: billion US dollars.

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Speaker 2: It's got some pretty grand ambitions to establish a human

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Speaker 2: colony on Mars, just quietly and launch internet all over

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Speaker 2: the world via Starlink.

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Speaker 1: Another one of Musk's companies is Xai.

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Speaker 2: That's his answer to open Ai, which Musk did co found,

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Speaker 2: by the way, but then he rage quit open Ai.

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Speaker 1: Yep, but b man controversy aside. Xai is planning to

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Speaker 1: raise another five billion US dollars.

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Speaker 2: And surprise, nearly half the mulla is coming from Elon's

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Speaker 2: other business, SpaceX.

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Speaker 1: Is all part of his strategy of cross pollinating his empire.

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Speaker 2: And it's fair to say, juzzy boy Elon has become

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Speaker 2: the master of related party transaction.

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Speaker 1: So true, So what is the key learning here?

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Speaker 2: A related party transaction is when a company does business

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Speaker 2: with another business or party that is closely connected. It

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Speaker 2: might be a major shareholder, an executive, or in this case,

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Speaker 2: another company controlled by the same person. He's essentially using

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Speaker 2: one of his most successful companies, SpaceX, to bankroll one

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Speaker 2: of his most speculative companies, Xai.

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Speaker 1: And Juzzy Boy.

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Speaker 2: In public companies, these deals usually involve a full review

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Speaker 2: of the deal by directors and sometimes a bit of

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Speaker 2: a vote, but on the SpaceX and Xai deal, Musk

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Speaker 2: doesn't face these hurdles because they're both private. So this

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Speaker 2: investment between SpaceX and Xai will just be another way

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Speaker 2: to blur the lines between Elon Musk's ventures Fox. The

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Speaker 2: ASX two hundred.

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Speaker 1: Index gained a open temporary two percent in FO twenty five.

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Speaker 1: We cover the top two performing companies that are both

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Speaker 1: from the same industry in the Flux app this month.

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Speaker 1: If you want to learn a little bit more about

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Speaker 1: the best performance of FY twenty five, make sure to

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Speaker 1: download the flexapp and check it out.

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Speaker 2: Thanks for listening and we'll see you on Friday.