Latest / What the Flux / ANZ in $240 million "crisis" | Apple's Liquid Glass | Gucci-owner delays decision on Valentino acquisition

Transcript

ANZ in $240 million "crisis" | Apple's Liquid Glass | Gucci-owner delays decision on Valentino acquisition · What the Flux

• 0:05
  Speaker 1: This is what the flux I'm brand, I'm justin and Wednesday,
• 0:08
  Speaker 1: the seventeenth of septem But.
• 0:10
  Speaker 2: Dozy boy, approximately five million Australians are going to receive
• 0:13
  Speaker 2: a little jump to their incomes this Friday because government
• 0:16
  Speaker 2: support payments are being lifted to keep up with inflation.
• 0:19
  Speaker 2: We are talking the age, pension, care of payments, federal
• 0:22
  Speaker 2: rent assistance with the allowance job seekers all getting a
• 0:25
  Speaker 2: little jump.
• 0:26
  Speaker 1: Man, did you? According to the ATO, four and a
• 0:28
  Speaker 1: half million tax refunds have already been issued to Aussie
• 0:31
  Speaker 1: taxpayers and the average tax refund has been two thousand,
• 0:34
  Speaker 1: six hundred and thirty nine dollars. Well, then the Flux
• 0:36
  Speaker 1: out Today we break down five smart ways to use
• 0:40
  Speaker 1: your tax refund. If you are lucky enough to get one,
• 0:42
  Speaker 1: make sure it download the fox out to check out
• 0:44
  Speaker 1: ways to use your refund effectively.
• 0:46
  Speaker 3: Three marvelous stories today, juzzy boy, let's do it for
• 0:49
  Speaker 3: our first aiden Z Bank has been hit with a
• 0:51
  Speaker 3: record two hundred and forty million dollar fine for widespread
• 0:55
  Speaker 3: misconduct across multiple divisions.
• 0:57
  Speaker 1: A and Z will have to empty their piggybank for
• 0:59
  Speaker 1: this one b man, not really actually so well, an
• 1:02
  Speaker 1: Z is the fourth largest bank in Australia with over
• 1:04
  Speaker 1: eight point five million retail and business customers. That's more
• 1:07
  Speaker 1: than Sydney and Brisbane's population a combined.
• 1:09
  Speaker 2: And Jase Boy, you may remember that just last week
• 1:12
  Speaker 2: Anzid was in the news for cutting its workforce by
• 1:14
  Speaker 2: a total number of four thousy five hundred jobs, and.
• 1:17
  Speaker 1: Now they're making headlines once again.
• 1:19
  Speaker 2: Back in twenty twenty three, AzID was trusted as one
• 1:21
  Speaker 2: of the managers for a fourteen billion dollar government bond deal.
• 1:25
  Speaker 1: That AZED submitted some of its staff had acted with
• 1:27
  Speaker 1: misconduct with the training of government bonds and the man
• 1:30
  Speaker 1: When the regulator ACIK looked into this case, they also
• 1:33
  Speaker 1: identified a whole range of other breaches within different divisions
• 1:36
  Speaker 1: of ainz Yep.
• 1:37
  Speaker 2: ACID found that ANZ failed to respond to a customer's
• 1:40
  Speaker 2: hardship notices in at a very timely manner.
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  Speaker 1: They had misleading statements about their savings interest rates, failed
• 1:45
  Speaker 1: to refund fees charged to thousands of dead customers accounts.
• 1:49
  Speaker 1: So now ANZ is being slapped with a record two
• 1:52
  Speaker 1: hundred and forty million dollar fine for quote unconscionable conduct.
• 1:55
  Speaker 2: From ACID and AzID has a lot of making up
• 1:58
  Speaker 2: to do to its customers and regulators.
• 2:00
  Speaker 1: It's new CEO yep. But at least they'll be glad
• 2:02
  Speaker 1: to put this complex government bond saga finally behind that.
• 2:05
  Speaker 2: So what is the key learning here?
• 2:06
  Speaker 1: Government bonds are financial instruments that help governments borrow money
• 2:10
  Speaker 1: from investors to help fund critical services. In Australia yep.
• 2:13
  Speaker 2: They borrow money to fund education and infrastructure, healthcare, social
• 2:17
  Speaker 2: welfare and more.
• 2:18
  Speaker 1: And then man in return for purchasing the bond bond,
• 2:21
  Speaker 1: investors are promised a repayment with interest at a later date,
• 2:24
  Speaker 1: also known as a coupon rate. Now, in this case,
• 2:26
  Speaker 1: ANZID was supporting the government in selling fourteen billion dollars
• 2:30
  Speaker 1: worth of bonds, but.
• 2:31
  Speaker 2: They allegedly made trades that pushed the coupon rates higher.
• 2:34
  Speaker 1: High rates meant the government had to pay more interest
• 2:36
  Speaker 1: to invest it.
• 2:37
  Speaker 2: After that, an z flipped its trades and bought up
• 2:40
  Speaker 2: some of those bonds cheaply and.
• 2:41
  Speaker 1: Then made a tidy little profit when the value of
• 2:44
  Speaker 1: the bonds went up again.
• 2:45
  Speaker 2: In fact, it's believed that anzid's misconduct could have cost
• 2:48
  Speaker 2: the government IE taxpayers up to eighty million dollars.
• 2:51
  Speaker 1: So b Man that is why an Z's been whacked
• 2:53
  Speaker 1: with a record two hundred and forty million dollar fine.
• 2:55
  Speaker 1: But this is still only six point six percent of
• 2:58
  Speaker 1: its half yearly profit after app Wow.
• 3:00
  Speaker 2: For our second story, Apple has launched its biggest iPhone
• 3:03
  Speaker 2: design update in years with its iOS twenty six update.
• 3:07
  Speaker 2: But some Apple users are being left behind.
• 3:10
  Speaker 1: Surely Apple finally bringing AI into the iPhone. Be man,
• 3:12
  Speaker 1: tell me more.
• 3:13
  Speaker 2: Apple was founded in nineteen seventy six and held the
• 3:15
  Speaker 2: title of the world's most valuable company for many years,
• 3:18
  Speaker 2: but not anymore thanks Nvidia. And the reason for its
• 3:20
  Speaker 2: big fat growth was its iPhones, It's max, It's iPads,
• 3:23
  Speaker 2: as well as its.
• 3:24
  Speaker 1: Subscription services like iCloud and Apple tv Plus as well
• 3:27
  Speaker 1: and Jazi boy.
• 3:27
  Speaker 2: More than one point four billion people use iPhones globally,
• 3:30
  Speaker 2: so when Apple makes a software update, it's basically a
• 3:33
  Speaker 2: mini world event. Yeah, man, you may've heard. Last week
• 3:36
  Speaker 2: Apple undalt its new iPhone seventeen quote the thinnest iPhone ever.
• 3:40
  Speaker 1: And new Airpod's three. But now it's released a new
• 3:43
  Speaker 1: operating system called iOS twenty six, which has gone live.
• 3:46
  Speaker 2: All right, Jazzy boy, you little expert, what does this
• 3:48
  Speaker 2: one do?
• 3:48
  Speaker 3: Well?
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  Speaker 1: Apple's been talking a big game about its new design
• 3:51
  Speaker 1: feature called liquid Glass, which supposedly transforms the look of
• 3:55
  Speaker 1: your lock screen.
• 3:56
  Speaker 2: Also, the iPhone app now includes call screening for unknown numbers.
• 3:59
  Speaker 1: I love that. And Apple Intelligence, which is Apple's AI system,
• 4:02
  Speaker 1: is finally doing something. They're adding live translation in messages
• 4:06
  Speaker 1: and FaceTime.
• 4:07
  Speaker 2: But wait, not every iPhone is compatible.
• 4:08
  Speaker 1: That is very true. It's only compatible with iPhones eleven
• 4:11
  Speaker 1: and over.
• 4:12
  Speaker 2: In other words, this is Apple's way of ensuring customers
• 4:15
  Speaker 2: need to continue upgrading their iPhones.
• 4:17
  Speaker 1: What is the key leaning here?
• 4:19
  Speaker 2: Software updates are pitched as a way to breathe new
• 4:21
  Speaker 2: life into your phone, but they can also have the
• 4:24
  Speaker 2: opposite effect over time, Big updates often slow down older
• 4:27
  Speaker 2: devices or limit which features are available. And jaziboit. While
• 4:30
  Speaker 2: it's not always intentional, it's often enough to frustrate users
• 4:34
  Speaker 2: so that they're forced to buy a newer iPhone.
• 4:36
  Speaker 1: But sometimes being there, it is intentional as well well.
• 4:38
  Speaker 2: I remember in twenty seventeen when Apple admitted to deliberately
• 4:41
  Speaker 2: limiting speeds on devices with aging batteries, and.
• 4:44
  Speaker 1: They settle this case in America for five hundred million
• 4:47
  Speaker 1: US dollars.
• 4:48
  Speaker 2: For Apple, this cycle is very powerful.
• 4:50
  Speaker 1: Yeap. It keeps the long term users engaged while quietly
• 4:53
  Speaker 1: encouraging hardware sales.
• 4:54
  Speaker 2: For our third and final story, Kerring, the owner of
• 4:58
  Speaker 2: Gucci and Balenciaga, has us for more time to acquire
• 5:01
  Speaker 2: luxury fashion brand Valentino as its new CEO shifts its
• 5:04
  Speaker 2: focus to cutting debt.
• 5:06
  Speaker 1: High fashion, high debt, high stakes. Be man, so tell
• 5:09
  Speaker 1: me more so.
• 5:09
  Speaker 2: The name Caring may not ring a bell for everyone,
• 5:12
  Speaker 2: but they're behind some of the biggest luxury brands that
• 5:14
  Speaker 2: we know.
• 5:14
  Speaker 1: We're talking to Gucci in Saint Laurent, Valencia, Yaga.
• 5:17
  Speaker 2: And Josei Wait. Back in twenty twenty two, Carrying shelled
• 5:19
  Speaker 2: out one point seven billion euros for just thirty percent
• 5:22
  Speaker 2: of Valentino that's.
• 5:23
  Speaker 1: Another luxury brand, and they had an option to buy
• 5:26
  Speaker 1: the rest of Valentino by twenty twenty eight.
• 5:28
  Speaker 2: But now Valentino's new CEO has said that cutting its
• 5:31
  Speaker 2: debt and costs is top pariti.
• 5:33
  Speaker 1: Yep. That's because Kerring's net debt jumped twenty four percent
• 5:35
  Speaker 1: last year to over ten and a half billion.
• 5:37
  Speaker 2: Euro and so now Kerring has asked for this twenty
• 5:40
  Speaker 2: twenty eight option to be pushed out to twenty twenty nine.
• 5:43
  Speaker 1: And the Katar Fund may Hauler, which owns the seventy
• 5:46
  Speaker 1: percent remainder of Valentino, has accepted.
• 5:48
  Speaker 2: So this will give Caring more time to get on
• 5:50
  Speaker 2: top of their debt and still have the chance to
• 5:52
  Speaker 2: take over Valentino.
• 5:54
  Speaker 1: So what is the key learning here?
• 5:55
  Speaker 2: An option is like a try before you buy arrangement
• 5:58
  Speaker 2: when it comes to an acquisition YEA.
• 5:59
  Speaker 1: Instead of committing billions up front, a company can purchase
• 6:02
  Speaker 1: part of the target company.
• 6:03
  Speaker 2: And secure the option to buy the rest later and
• 6:06
  Speaker 2: be man.
• 6:07
  Speaker 1: This gives them time to assess the company's performance as
• 6:09
  Speaker 1: well as market conditions before.
• 6:11
  Speaker 2: Locking in the full price YEAP. Importantly, Jazuboy, the option
• 6:14
  Speaker 2: is not an obligation, and we've seen this play out before.
• 6:17
  Speaker 2: Remember all Disney and Hulu YEP. Disney first acquired a
• 6:19
  Speaker 2: minority stake in Hulu in two thousand.
• 6:21
  Speaker 1: And nine, then, through a series of deals, it gained
• 6:24
  Speaker 1: the option to buy the remainder of Hulu from Comcast.
• 6:27
  Speaker 2: In twenty twenty three, Disney exercised that option and valued
• 6:30
  Speaker 2: Hulu at eight point six billion US.
• 6:31
  Speaker 1: Dollars, So be man. At these stage, deals give companies
• 6:34
  Speaker 1: room to adapt based on the circumstances.
• 6:36
  Speaker 2: And while Disney went all in, it seems like Caring
• 6:39
  Speaker 2: wants to buy more time before making its big decision.
• 6:42
  Speaker 1: Fox Sam, if you've been lucky enough to hit a
• 6:44
  Speaker 1: tax refund so far, we show you five smart ways
• 6:46
  Speaker 1: to use your tax refund effectively. Make sure to check
• 6:49
  Speaker 1: out the plus out for a whole lot of tax goodness.
• 6:51
  Speaker 2: Thanks for listening, and we'll see you on Friday.