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Speaker 1: This is what the flux.

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Speaker 2: I'm Bratton and I'm justin and it's Wednesday, the nineteenth

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Speaker 2: of June. Feman, welcome back, bye, golly, it's good to

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Speaker 2: be back. Jussy boy, me ow didn't get any hour

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Speaker 2: and neuroaight now, Josey boy, Another RBA meeting is in

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Speaker 2: the books. And yes, another pause keeping the cash rate

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Speaker 2: at four point three five percent in a fifth pause

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Speaker 2: in a row. And three of the big four banks

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Speaker 2: are still expecting a cash rate drop later this year.

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Speaker 1: So finger is across.

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Speaker 2: Speaking of the RBA cashert, We've done a whole heap

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Speaker 2: of deep dyes in the Flux app about why there

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Speaker 2: was a pause, why didn't increase and also why Australia's

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Speaker 2: kind of following the Federal Reserve in the US when

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Speaker 2: it comes to the cash rat is very very juicy.

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Speaker 2: So flex out. Make sure to downlad the Flux app

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Speaker 2: and check it all out.

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Speaker 1: Three profit worthy stories today, jusy boy, let's do it

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Speaker 1: for our first. Telstra has scrapped its commitment to a

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Speaker 1: carbon offset scheme and it's also cut its plans to

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Speaker 1: become carbon.

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Speaker 2: Neutral, pulling away from the pack. He is, so tell

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Speaker 2: me more well, does he boy.

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Speaker 1: We obviously know Telster for being the largest telco company

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Speaker 1: in the whole of Australia, and four years ago, Telstra, the.

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Speaker 2: Very good corporate citizen, joined the government's Climate Active program.

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Speaker 1: Along with seven hundred other companies.

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Speaker 2: Now, the goal of signing up was to get all

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Speaker 2: these companies to carbon neutral.

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Speaker 1: In other words, investing in projects to offset the pollution

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Speaker 1: that they are emitting.

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Speaker 2: But now four years later, Telstra's announced that it will

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Speaker 2: stop buying carbon credits under the government's program, and.

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Speaker 1: Rather than buying these carbon credits, it will invest more

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Speaker 1: money into decarbonization project.

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Speaker 2: Like introducing renewable energy in its data centers.

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Speaker 1: And does it Boy. Ultimately, Telstra recons this will help

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Speaker 1: reduce its carbon footprint as opposed to just buying carbon

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Speaker 1: credits to offset the carbon it was creating as a business.

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Speaker 1: But interestingly, many people are actually celebrating Telstra leaving this

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Speaker 1: program because carbon credits are a murky world for businesses.

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Speaker 2: Sounds very juicy, So what is the key lanning here?

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Speaker 1: Carbon credits have great intentions but appear to be failing

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Speaker 1: in reality.

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Speaker 2: Put, carbon credits allow big polluters to offset the carbon

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Speaker 2: that they amiss.

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Speaker 1: That means you don't actually need to change any of

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Speaker 1: your behavior if you don't want it.

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Speaker 2: In other words, if you're emitting carbon from your data center,

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Speaker 2: you invest in units of carbon credit and.

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Speaker 1: These units can go towards land restoration projects to remove

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Speaker 1: carbon dioxide from the atmosphere. And this is why the

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Speaker 1: carbon credits market around the world is growing rapidly. In fact,

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Speaker 1: the carbon credit market was valued at over one hundred

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Speaker 1: and three billion US dollars in twenty twenty three and

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Speaker 1: expected to.

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Speaker 2: Grow by fourteen point eight percent over the next eight years.

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Speaker 1: But the reality is carbon credits have attracted plenty of

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Speaker 1: controversy giant and that is because.

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Speaker 2: People argue they're kind of misleading and like a whole

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Speaker 2: lot of transparence.

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Speaker 1: For example, Telstra copped heat for buying the majority of

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Speaker 1: its carbon credits from renewable projects not in Australia but

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Speaker 1: in India, emitting in Australia and buying credits in India exactly,

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Speaker 1: which is probably why Telster has decided to go back

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Speaker 1: to basics and just reduce their emissions.

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Speaker 2: For our second story, Mars Wrigley, the snack food behemour,

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Speaker 2: is spending millions of dollars to try and restore its

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Speaker 2: chewing gum brands to their former glory.

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Speaker 1: Chewing gum fell off the cliff during COVID with nobody

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Speaker 1: to impress. So what is going on here?

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Speaker 2: So Mars Wriggly is the multinational manufacturer of a whole

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Speaker 2: range of foods anti pet products as well.

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Speaker 1: We'd be talking Mars Bars obviously, Eminem's Pods, Maltesers, even Bounty.

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Speaker 1: On top of that, Juzzy Boy also owns a BK

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Speaker 1: chewing gum, Airwaves, Juicy Fruit, as well as the heroes

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Speaker 1: Extra and Orbit.

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Speaker 2: But be man, Mars Wrigglely is facing a bit of

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Speaker 2: a sticky problem at the moment because gum sales peaked

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Speaker 2: in twenty ten according to Euromonitor, and just haven't bounced out.

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Speaker 1: And they've tried everything.

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Speaker 2: They've tried things like fresh breath, long lasting taste, great

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Speaker 2: confidence on dates, and now Mars Wriggly is back again

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Speaker 2: with another major commitment to investing in their.

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Speaker 1: Gum ad Now this time around, Juzsey Boy, Extra and

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Speaker 1: Orbit Gum is going to silence your anxious thoughts and

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Speaker 1: improve your self esteem.

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Speaker 2: Really leaning into the trend, towards mindfulness.

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Speaker 1: And the trend towards anxiety.

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Speaker 2: I'd really like to see the peer reviewed research behind

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Speaker 2: this link. Please quite your mind with Minty Breath gum.

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Speaker 2: But this new campaign follows a number of failed campaigns

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Speaker 2: because the brand is already so well known.

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Speaker 1: So what is the key learning here?

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Speaker 2: Revamping an iconic brand is like a cover of a

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Speaker 2: classic song. Everyone knows the original way too.

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Speaker 1: Well, clearly Juzzy Boy. It's very difficult because Extra has

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Speaker 1: been around since nineteen eighty four.

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Speaker 2: So to bring around real change, brands need a shift

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Speaker 2: customers perception of the brand entirely. Let's be honest.

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Speaker 1: Twoing gum brands are up against it at the moment.

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Speaker 2: Yeah. Global gum sales fell nearly twenty percent between twenty

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Speaker 2: nineteen and twenty twenty during the pandemic.

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Speaker 1: And although they have bounced back, there's still been a

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Speaker 1: significant decline in the actual number of gum units sold

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Speaker 1: since then.

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Speaker 2: That's according to Euromonitor.

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Speaker 1: Gum isn't the first product that's had to totally shift

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Speaker 1: their brand positioning to turn things around.

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Speaker 2: For example, back in the eighties, Harley Davidson turned itself

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Speaker 2: around big time.

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Speaker 1: They were just another motorcycle company and became a symbol

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Speaker 1: of rebellion in the US.

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Speaker 2: They went from the brink of bankruptcy to a four

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Speaker 2: and a half billion US dollar company. So Mars Wrigley

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Speaker 2: is hoping to do the same. Billious Gum.

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Speaker 1: For our third and final story, Steak dot Com, the

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Speaker 1: online casino, is desperate to law in tech talent from

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Speaker 1: Australia's biggest companies, so it is throwing huge dollars at them.

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Speaker 2: Rolling the dice in this little game of salary rulette.

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Speaker 2: B Man, so tell me more so.

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Speaker 1: Steak dot COM's owner, Easygo Solutions, is a tech company

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Speaker 1: in the entertainment space and be Man.

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Speaker 2: Although they're global and not legal in Australia, they're actually

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Speaker 2: founded here.

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Speaker 1: Now they own brands like Steak dot Com, the world's

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Speaker 1: biggest online cryptocasino, but also kick dot Com and Twist

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Speaker 1: Gaming and the Man.

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Speaker 2: Steak dot Com has made quite the name for itself

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Speaker 2: as an online casino.

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Speaker 1: Sponsors Everton Football Club in the UK and also Alpha

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Speaker 1: Romeo in the f Y.

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Speaker 2: Not to forget Drake being one of their ambassadors as well,

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Speaker 2: and now juzy Boy Easygo, which doesn't quite have the

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Speaker 2: rep of a Canva or an Atlastian is throwing mega

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Speaker 2: salaries to bring tech talent into their business. They claim

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Speaker 2: salaries twenty percent above the industry average.

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Speaker 1: The hard thing for Easygo though, is that it's looking

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Speaker 1: for talent in a shrinking pool.

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Speaker 2: So what is the key learning here?

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Speaker 1: Australian tech industry has a major challenge on the horizon,

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Speaker 1: a shortage of skilled workers for a growing number of jobs.

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Speaker 2: You see be man. It's estimated that Australia will need

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Speaker 2: an extra three hundred thousand tech workers by twenty thirty

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Speaker 2: according to the Federal Government.

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Speaker 1: Forecasts, and at the same time, there are only about

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Speaker 1: six thousand science and engineering students graduating in Australia every year.

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Speaker 2: As a result, companies have to throw everything but the

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Speaker 2: kitchen sink to get the best talent.

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Speaker 1: A skills shortage in technology can have serious implications for

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Speaker 1: the growth of tech companies in the future, because.

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Speaker 2: Strong growth relies on strong people. Fox Am, you might

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Speaker 2: not be surprised, but Australia loves to follow the US,

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Speaker 2: particularly when it comes to cash rate rises and pauses.

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Speaker 2: But there's a reason behind it and we've got to

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Speaker 2: cover it. In the Flux app to make sure to

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Speaker 2: download it so you can be smarter than your boss.

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

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Speaker 1: Friday