1 00:00:05,240 --> 00:00:07,960 Speaker 1: This is what the flux I'm brad, I'm justin and 2 00:00:08,080 --> 00:00:09,560 Speaker 1: it's Monday, the first of July. 3 00:00:09,680 --> 00:00:12,280 Speaker 2: The happy new year to you, just boy, new financial 4 00:00:12,320 --> 00:00:15,000 Speaker 2: year man now, Josey boy. We all know that times 5 00:00:15,000 --> 00:00:17,720 Speaker 2: are tongue and more data keeps coming out to support this. 6 00:00:17,880 --> 00:00:20,079 Speaker 2: Get this stat The number of people struggling to pay 7 00:00:20,120 --> 00:00:23,680 Speaker 2: electricity bills went up eighteen percent between twenty twenty two 8 00:00:23,720 --> 00:00:25,799 Speaker 2: and twenty twenty three, according to the age. 9 00:00:25,600 --> 00:00:28,960 Speaker 1: Of full ce petrifier twenty on my heating flux. Sa'am, 10 00:00:28,960 --> 00:00:31,080 Speaker 1: it's the first day of the new financial year, and 11 00:00:31,120 --> 00:00:34,160 Speaker 1: you know what they say, new financial year, new financial 12 00:00:34,240 --> 00:00:36,840 Speaker 1: me And because of the success of our fifty percent 13 00:00:36,840 --> 00:00:39,480 Speaker 1: off deal for flux bro, we've extended it for one 14 00:00:39,680 --> 00:00:42,320 Speaker 1: more week. No, that means one more week to invest 15 00:00:42,360 --> 00:00:44,720 Speaker 1: in your financial future at the fty percent of the 16 00:00:44,760 --> 00:00:46,800 Speaker 1: regular price. So if you want to invest in your 17 00:00:46,840 --> 00:00:49,000 Speaker 1: financial future, make sure to hit the link in the 18 00:00:49,040 --> 00:00:51,440 Speaker 1: show notes to access the limited time deal. 19 00:00:51,600 --> 00:00:55,120 Speaker 2: Three responsible stories today, Josey boy, let's do it for 20 00:00:55,200 --> 00:00:57,720 Speaker 2: our first. A and Z Bank has been given the 21 00:00:57,760 --> 00:01:00,840 Speaker 2: green light to take over Sun Coop's bank for four 22 00:01:00,840 --> 00:01:04,240 Speaker 2: point nine billion dollars after nearly two years of battling 23 00:01:04,240 --> 00:01:04,800 Speaker 2: and appealing. 24 00:01:04,880 --> 00:01:06,600 Speaker 1: But now there's a bit of a catch oo, a 25 00:01:06,640 --> 00:01:08,679 Speaker 1: bit of a deal with the devil for ANZB man. 26 00:01:08,880 --> 00:01:09,920 Speaker 1: So tell me what's going on here. 27 00:01:09,920 --> 00:01:12,240 Speaker 2: Well, we all know ANZ as the big blue bank 28 00:01:12,280 --> 00:01:14,920 Speaker 2: that has over eight and a half million retail and 29 00:01:15,000 --> 00:01:15,840 Speaker 2: business customers. 30 00:01:15,880 --> 00:01:18,240 Speaker 1: Now take you back to July twenty twenty two. ANZ 31 00:01:18,360 --> 00:01:21,360 Speaker 1: announced a four point nine billion dollar acquisition of sun 32 00:01:21,360 --> 00:01:22,240 Speaker 1: Corpse Banking arm. 33 00:01:22,360 --> 00:01:25,240 Speaker 2: It was celebrated as the biggest bank acquisition since two 34 00:01:25,280 --> 00:01:25,840 Speaker 2: thousand and eight. 35 00:01:25,880 --> 00:01:28,280 Speaker 1: But Beman, bring out the popcorn, because this is where 36 00:01:28,280 --> 00:01:31,560 Speaker 1: the drama started. Go on. Okay, well, the champagne was papped. 37 00:01:31,560 --> 00:01:34,160 Speaker 1: But then the ah triple see the Australian Competition and 38 00:01:34,160 --> 00:01:36,640 Speaker 1: Consumer Commission was like, hold it right there. This is 39 00:01:36,680 --> 00:01:39,000 Speaker 1: going a seriously lessen competition in banking. 40 00:01:39,160 --> 00:01:42,480 Speaker 2: And then Anzen appealed to the Australian Competition Tribunal and 41 00:01:42,560 --> 00:01:43,080 Speaker 2: they said this. 42 00:01:43,160 --> 00:01:45,319 Speaker 1: Still wouldn't hurt competition, think of that. 43 00:01:45,640 --> 00:01:48,400 Speaker 2: But then A and Z still needed approval from the Treasurer, 44 00:01:48,480 --> 00:01:51,360 Speaker 2: who gave the all clip, but with a few very 45 00:01:51,400 --> 00:01:52,520 Speaker 2: specific conditions. 46 00:01:52,560 --> 00:01:55,920 Speaker 1: Number one, no net job losses across both companies for 47 00:01:56,000 --> 00:01:56,520 Speaker 1: three years. 48 00:01:56,600 --> 00:01:59,720 Speaker 2: Here is number two, no regional anz branches to close 49 00:01:59,760 --> 00:02:01,040 Speaker 2: for the next three years. 50 00:02:00,880 --> 00:02:04,200 Speaker 1: And number three fifteen billion dollars of lending to Queensland 51 00:02:04,240 --> 00:02:07,680 Speaker 1: for Olympic Games, infrastructure and renewable energy and juzzy Boy. 52 00:02:07,720 --> 00:02:09,880 Speaker 2: There are about six other conditions as well, but that 53 00:02:09,960 --> 00:02:10,600 Speaker 2: Olympic one. 54 00:02:10,639 --> 00:02:12,960 Speaker 1: Where did that come from? I know? So Anz's agree 55 00:02:13,000 --> 00:02:14,160 Speaker 1: to all of these conditions. 56 00:02:14,200 --> 00:02:16,440 Speaker 2: Clearly this deal means a lot to A and Z. 57 00:02:16,720 --> 00:02:18,920 Speaker 2: So what is the key learning here? Big banks will 58 00:02:18,919 --> 00:02:21,320 Speaker 2: stop at nothing to get their hands on a bigger 59 00:02:21,400 --> 00:02:24,040 Speaker 2: slice of the home loan pie man. We know that 60 00:02:24,080 --> 00:02:26,560 Speaker 2: home loans are the most lucrative form of lending their 61 00:02:26,760 --> 00:02:28,280 Speaker 2: long term up to thirty years. 62 00:02:28,320 --> 00:02:30,960 Speaker 1: They're extremely safe for the bank because they're secured by 63 00:02:31,000 --> 00:02:32,280 Speaker 1: the property itself. 64 00:02:31,919 --> 00:02:35,200 Speaker 2: And juzzy Boy, they are squeaky clean products. But at 65 00:02:35,200 --> 00:02:37,720 Speaker 2: the end of twenty twenty three, ANZID ranked fourth in 66 00:02:37,760 --> 00:02:40,079 Speaker 2: the homeland market with just thirteen and a half percent 67 00:02:40,120 --> 00:02:41,040 Speaker 2: of the market. 68 00:02:40,880 --> 00:02:43,000 Speaker 1: Just behind NABS fourteen point six percent. 69 00:02:43,080 --> 00:02:45,639 Speaker 2: But with Sun Corps fifty two billion dollars worth of 70 00:02:45,680 --> 00:02:48,720 Speaker 2: mortgages on its books, it would meet ANZI jumps to 71 00:02:48,880 --> 00:02:49,720 Speaker 2: third place. 72 00:02:49,840 --> 00:02:52,239 Speaker 1: Hop that NAB so juzzy Boy. 73 00:02:52,280 --> 00:02:54,960 Speaker 2: It's pretty clear now why an Z was willing to 74 00:02:55,000 --> 00:02:56,079 Speaker 2: move Heaven and Earth and. 75 00:02:56,040 --> 00:02:59,800 Speaker 1: Regional branches and even embrace Olympic lending to get this. 76 00:03:00,080 --> 00:03:03,760 Speaker 1: You'll done for our second story. Nine Entertainment, the owner 77 00:03:03,800 --> 00:03:06,520 Speaker 1: of Channel nine and major Australian publishers, will make up 78 00:03:06,520 --> 00:03:10,600 Speaker 1: to two hundred jobs redundant after struggling with weak advertising. 79 00:03:10,160 --> 00:03:13,440 Speaker 2: Cuts all across the media industry. Jazzy boy, what's happening 80 00:03:13,520 --> 00:03:14,000 Speaker 2: with nine? 81 00:03:14,040 --> 00:03:16,080 Speaker 1: Well, most people know Nine Entertainment as the owner of 82 00:03:16,200 --> 00:03:18,680 Speaker 1: Channel nine TV network. It also has a whole lot 83 00:03:18,680 --> 00:03:20,480 Speaker 1: of other media assets in its portfolio. 84 00:03:20,520 --> 00:03:25,600 Speaker 2: We're talking the Age, Sydney Morning Herald, Australian Financial Review, Pedestrians. 85 00:03:24,840 --> 00:03:28,480 Speaker 1: As well as streaming platform stan Lee and a majority 86 00:03:28,480 --> 00:03:31,160 Speaker 1: stake in domain, the real estate search website. But a 87 00:03:31,320 --> 00:03:33,600 Speaker 1: man nine CEO warned late last week that it will 88 00:03:33,600 --> 00:03:35,960 Speaker 1: cut up to two hundred jobs across the company. 89 00:03:36,040 --> 00:03:39,240 Speaker 2: By my calculations, that's about four percent of the workforce. 90 00:03:39,360 --> 00:03:41,840 Speaker 1: So what's the reason for this? Well, firstly, Nine blamed 91 00:03:41,880 --> 00:03:44,320 Speaker 1: a week ad market, but also the end of a 92 00:03:44,360 --> 00:03:47,280 Speaker 1: commercial deal with Meta and that deal was understood to 93 00:03:47,320 --> 00:03:49,680 Speaker 1: be worth around fifteen million bucks for Nine over the 94 00:03:49,720 --> 00:03:53,080 Speaker 1: past three years. And blah, blah bye it expired last night. Wow. 95 00:03:53,160 --> 00:03:55,720 Speaker 2: So for nine the goal is to find thirty million 96 00:03:55,800 --> 00:03:58,920 Speaker 2: dollars in savings across the business because things are getting taught. 97 00:03:59,080 --> 00:04:01,960 Speaker 1: So what is the key learning here? When the going 98 00:04:02,000 --> 00:04:05,120 Speaker 1: gets tough, the cream of advertising rises to the top. 99 00:04:05,280 --> 00:04:08,240 Speaker 2: Nothing quite like blending two common sayings together, Doddie Boy 100 00:04:08,960 --> 00:04:09,640 Speaker 2: cb MAN. 101 00:04:09,840 --> 00:04:12,400 Speaker 1: Much of the advertising on TV and newspapers is to 102 00:04:12,440 --> 00:04:14,080 Speaker 1: build awareness of a brand. 103 00:04:13,840 --> 00:04:15,960 Speaker 2: But it's kind of hard to measure the impact of 104 00:04:16,000 --> 00:04:18,320 Speaker 2: these campaigns, which. 105 00:04:18,080 --> 00:04:20,520 Speaker 1: Is why there's been a broader shift in the market. 106 00:04:20,640 --> 00:04:23,880 Speaker 2: Advertisers are moving away from traditional media like TV and 107 00:04:24,000 --> 00:04:24,720 Speaker 2: radio and. 108 00:04:24,640 --> 00:04:28,120 Speaker 1: Shifting towards more digital and targeted platforms. We can actually 109 00:04:28,160 --> 00:04:30,719 Speaker 1: track results, and nine weren't the only ones to do this, 110 00:04:30,800 --> 00:04:31,560 Speaker 1: be Man, Nope. 111 00:04:31,560 --> 00:04:33,960 Speaker 2: Seven West Media announced it was cutting one hundred and 112 00:04:34,000 --> 00:04:37,000 Speaker 2: fifty staff members the last week, and NewsCorp announced eighty 113 00:04:37,080 --> 00:04:39,560 Speaker 2: job carts in June, with more to come. For our 114 00:04:39,640 --> 00:04:43,000 Speaker 2: third and final story, Fujifilm is struggling to keep up 115 00:04:43,040 --> 00:04:45,919 Speaker 2: with demand for its cameras as TikTok has made retro 116 00:04:46,000 --> 00:04:46,880 Speaker 2: cameras trendy. 117 00:04:46,920 --> 00:04:49,359 Speaker 1: Again. Did not think it's a struggling and keeping up 118 00:04:49,400 --> 00:04:51,480 Speaker 1: with demand in the same sentence, b man, So tell 119 00:04:51,560 --> 00:04:52,320 Speaker 1: us what's going on here? 120 00:04:52,360 --> 00:04:55,240 Speaker 2: Well, it's comeback of the century, juzzy boy. Fujifilm is 121 00:04:55,279 --> 00:04:58,000 Speaker 2: the photography company that was started up ninety years ago 122 00:04:58,080 --> 00:04:58,599 Speaker 2: in Japan. 123 00:04:58,760 --> 00:05:01,920 Speaker 1: It started producing cameras film, but then quickly expanded into 124 00:05:01,960 --> 00:05:02,599 Speaker 1: the health sector. 125 00:05:02,680 --> 00:05:06,919 Speaker 2: We're talking products like glasses, medical imaging, pharmaceuticals, and now beman. 126 00:05:07,040 --> 00:05:10,560 Speaker 1: Fuji's photography was thriving in the early two thousands. In fact, 127 00:05:10,600 --> 00:05:14,320 Speaker 1: it was even overtaking industry leader Kodak in sales. 128 00:05:14,360 --> 00:05:17,480 Speaker 2: But then, of course, came smartphones and those classic silver 129 00:05:17,560 --> 00:05:19,240 Speaker 2: digital cameras you'd take on a night out. 130 00:05:19,360 --> 00:05:20,559 Speaker 1: They were completely gone. 131 00:05:20,560 --> 00:05:22,880 Speaker 2: But now be man, the tide has turned again, and 132 00:05:22,920 --> 00:05:25,920 Speaker 2: Fujifilm's got more demand for its old school cameras then 133 00:05:25,920 --> 00:05:27,840 Speaker 2: it knows what to do with it. It's become popular 134 00:05:27,920 --> 00:05:30,520 Speaker 2: as a status symbol and even a fashion accessory, so. 135 00:05:30,640 --> 00:05:33,200 Speaker 1: Much so that its camera division played the biggest role 136 00:05:33,279 --> 00:05:35,320 Speaker 1: in the company's record high profit. 137 00:05:35,120 --> 00:05:37,880 Speaker 2: YEAP thirty six percent of Fujifilm's operating profit in twenty 138 00:05:37,880 --> 00:05:40,120 Speaker 2: twenty three came from its camera division. 139 00:05:39,760 --> 00:05:42,600 Speaker 1: And this surgeon demand is pretty much all thanks to TikTok. 140 00:05:42,760 --> 00:05:44,800 Speaker 1: So what is the key learning here? A pinch of 141 00:05:44,839 --> 00:05:47,760 Speaker 1: nostalgia and a dash of TikTok's algorithm and you can 142 00:05:47,800 --> 00:05:50,680 Speaker 1: resurrect an entire industry. Big call duzzy boy. 143 00:05:50,760 --> 00:05:53,960 Speaker 2: Now, when smartphones came about, camera companies like Fujifilm and 144 00:05:54,080 --> 00:05:55,320 Speaker 2: Kodak for that matter, they. 145 00:05:55,200 --> 00:05:58,080 Speaker 1: Were as good as gone, sayan Nara, but be man. 146 00:05:58,160 --> 00:06:00,480 Speaker 1: With the infinite amount of images that and be taken 147 00:06:00,480 --> 00:06:04,679 Speaker 1: on smartphones, the idea of valuing each photo has been completely. 148 00:06:04,080 --> 00:06:06,480 Speaker 2: Lost, which is why old school cameras have captured the 149 00:06:06,480 --> 00:06:10,200 Speaker 2: attention of youngin's on TikTok so, Jazi wait. Companies like Fujifilm, 150 00:06:10,240 --> 00:06:12,679 Speaker 2: which we're holding onto the photography arm with their business 151 00:06:12,720 --> 00:06:15,360 Speaker 2: by a thread, as seeing a resurgence of demand. 152 00:06:15,440 --> 00:06:17,960 Speaker 1: And the man. Photography isn't the only industry seeing a 153 00:06:18,040 --> 00:06:19,400 Speaker 1: resurgence thanks to TikTok. 154 00:06:19,440 --> 00:06:22,080 Speaker 2: We've seen vinyl records of past CDs as the most 155 00:06:22,080 --> 00:06:23,880 Speaker 2: popular physical music format. 156 00:06:23,640 --> 00:06:25,800 Speaker 1: And even print book sales have been growing by around 157 00:06:25,880 --> 00:06:29,080 Speaker 1: ten percent year on year after major decline, so josebait. 158 00:06:29,160 --> 00:06:32,919 Speaker 2: This gives many almost extinct companies a glimmer of hope 159 00:06:33,000 --> 00:06:34,240 Speaker 2: they can still make it come. 160 00:06:34,200 --> 00:06:37,840 Speaker 1: Back Next up Handkerchiefs coming cool again. Plus am New 161 00:06:37,880 --> 00:06:41,320 Speaker 1: Financial Year, New Financial Year. Because of the success about 162 00:06:41,320 --> 00:06:43,800 Speaker 1: fifty percent off deal for flux Pro, we've extended it 163 00:06:43,839 --> 00:06:46,160 Speaker 1: by one more week. You've got one more week to 164 00:06:46,240 --> 00:06:48,720 Speaker 1: invest in your financial future at fifty percent off the 165 00:06:48,760 --> 00:06:50,440 Speaker 1: regular price. To make sure to hit the link in 166 00:06:50,480 --> 00:06:52,840 Speaker 1: the show notes to access the deal. Thanks for listening 167 00:06:52,880 --> 00:06:54,400 Speaker 1: and we'll see you on Wednesday.