Latest / What the Flux / ANZ gets approval for Suncorp merger | Nine cuts 200 jobs | Fujifilm's retro reboot

Transcript

ANZ gets approval for Suncorp merger | Nine cuts 200 jobs | Fujifilm's retro reboot · What the Flux

• 0:05
  Speaker 1: This is what the flux I'm brad, I'm justin and
• 0:08
  Speaker 1: it's Monday, the first of July.
• 0:09
  Speaker 2: The happy new year to you, just boy, new financial
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  Speaker 2: year man now, Josey boy. We all know that times
• 0:15
  Speaker 2: are tongue and more data keeps coming out to support this.
• 0:17
  Speaker 2: Get this stat The number of people struggling to pay
• 0:20
  Speaker 2: electricity bills went up eighteen percent between twenty twenty two
• 0:23
  Speaker 2: and twenty twenty three, according to the age.
• 0:25
  Speaker 1: Of full ce petrifier twenty on my heating flux. Sa'am,
• 0:28
  Speaker 1: it's the first day of the new financial year, and
• 0:31
  Speaker 1: you know what they say, new financial year, new financial
• 0:34
  Speaker 1: me And because of the success of our fifty percent
• 0:36
  Speaker 1: off deal for flux bro, we've extended it for one
• 0:39
  Speaker 1: more week. No, that means one more week to invest
• 0:42
  Speaker 1: in your financial future at the fty percent of the
• 0:44
  Speaker 1: regular price. So if you want to invest in your
• 0:46
  Speaker 1: financial future, make sure to hit the link in the
• 0:49
  Speaker 1: show notes to access the limited time deal.
• 0:51
  Speaker 2: Three responsible stories today, Josey boy, let's do it for
• 0:55
  Speaker 2: our first. A and Z Bank has been given the
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  Speaker 2: green light to take over Sun Coop's bank for four
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  Speaker 2: point nine billion dollars after nearly two years of battling
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  Speaker 2: and appealing.
• 1:04
  Speaker 1: But now there's a bit of a catch oo, a
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  Speaker 1: bit of a deal with the devil for ANZB man.
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  Speaker 1: So tell me what's going on here.
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  Speaker 2: Well, we all know ANZ as the big blue bank
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  Speaker 2: that has over eight and a half million retail and
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  Speaker 2: business customers.
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  Speaker 1: Now take you back to July twenty twenty two. ANZ
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  Speaker 1: announced a four point nine billion dollar acquisition of sun
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  Speaker 1: Corpse Banking arm.
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  Speaker 2: It was celebrated as the biggest bank acquisition since two
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  Speaker 2: thousand and eight.
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  Speaker 1: But Beman, bring out the popcorn, because this is where
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  Speaker 1: the drama started. Go on. Okay, well, the champagne was papped.
• 1:31
  Speaker 1: But then the ah triple see the Australian Competition and
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  Speaker 1: Consumer Commission was like, hold it right there. This is
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  Speaker 1: going a seriously lessen competition in banking.
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  Speaker 2: And then Anzen appealed to the Australian Competition Tribunal and
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  Speaker 2: they said this.
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  Speaker 1: Still wouldn't hurt competition, think of that.
• 1:45
  Speaker 2: But then A and Z still needed approval from the Treasurer,
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  Speaker 2: who gave the all clip, but with a few very
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  Speaker 2: specific conditions.
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  Speaker 1: Number one, no net job losses across both companies for
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  Speaker 1: three years.
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  Speaker 2: Here is number two, no regional anz branches to close
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  Speaker 2: for the next three years.
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  Speaker 1: And number three fifteen billion dollars of lending to Queensland
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  Speaker 1: for Olympic Games, infrastructure and renewable energy and juzzy Boy.
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  Speaker 2: There are about six other conditions as well, but that
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  Speaker 2: Olympic one.
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  Speaker 1: Where did that come from? I know? So Anz's agree
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  Speaker 1: to all of these conditions.
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  Speaker 2: Clearly this deal means a lot to A and Z.
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  Speaker 2: So what is the key learning here? Big banks will
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  Speaker 2: stop at nothing to get their hands on a bigger
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  Speaker 2: slice of the home loan pie man. We know that
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  Speaker 2: home loans are the most lucrative form of lending their
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  Speaker 2: long term up to thirty years.
• 2:28
  Speaker 1: They're extremely safe for the bank because they're secured by
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  Speaker 1: the property itself.
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  Speaker 2: And juzzy Boy, they are squeaky clean products. But at
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  Speaker 2: the end of twenty twenty three, ANZID ranked fourth in
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  Speaker 2: the homeland market with just thirteen and a half percent
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  Speaker 2: of the market.
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  Speaker 1: Just behind NABS fourteen point six percent.
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  Speaker 2: But with Sun Corps fifty two billion dollars worth of
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  Speaker 2: mortgages on its books, it would meet ANZI jumps to
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  Speaker 2: third place.
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  Speaker 1: Hop that NAB so juzzy Boy.
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  Speaker 2: It's pretty clear now why an Z was willing to
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  Speaker 2: move Heaven and Earth and.
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  Speaker 1: Regional branches and even embrace Olympic lending to get this.
• 3:00
  Speaker 1: You'll done for our second story. Nine Entertainment, the owner
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  Speaker 1: of Channel nine and major Australian publishers, will make up
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  Speaker 1: to two hundred jobs redundant after struggling with weak advertising.
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  Speaker 2: Cuts all across the media industry. Jazzy boy, what's happening
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  Speaker 2: with nine?
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  Speaker 1: Well, most people know Nine Entertainment as the owner of
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  Speaker 1: Channel nine TV network. It also has a whole lot
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  Speaker 1: of other media assets in its portfolio.
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  Speaker 2: We're talking the Age, Sydney Morning Herald, Australian Financial Review, Pedestrians.
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  Speaker 1: As well as streaming platform stan Lee and a majority
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  Speaker 1: stake in domain, the real estate search website. But a
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  Speaker 1: man nine CEO warned late last week that it will
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  Speaker 1: cut up to two hundred jobs across the company.
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  Speaker 2: By my calculations, that's about four percent of the workforce.
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  Speaker 1: So what's the reason for this? Well, firstly, Nine blamed
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  Speaker 1: a week ad market, but also the end of a
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  Speaker 1: commercial deal with Meta and that deal was understood to
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  Speaker 1: be worth around fifteen million bucks for Nine over the
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  Speaker 1: past three years. And blah, blah bye it expired last night. Wow.
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  Speaker 2: So for nine the goal is to find thirty million
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  Speaker 2: dollars in savings across the business because things are getting taught.
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  Speaker 1: So what is the key learning here? When the going
• 4:02
  Speaker 1: gets tough, the cream of advertising rises to the top.
• 4:05
  Speaker 2: Nothing quite like blending two common sayings together, Doddie Boy
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  Speaker 2: cb MAN.
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  Speaker 1: Much of the advertising on TV and newspapers is to
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  Speaker 1: build awareness of a brand.
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  Speaker 2: But it's kind of hard to measure the impact of
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  Speaker 2: these campaigns, which.
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  Speaker 1: Is why there's been a broader shift in the market.
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  Speaker 2: Advertisers are moving away from traditional media like TV and
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  Speaker 2: radio and.
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  Speaker 1: Shifting towards more digital and targeted platforms. We can actually
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  Speaker 1: track results, and nine weren't the only ones to do this,
• 4:30
  Speaker 1: be Man, Nope.
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  Speaker 2: Seven West Media announced it was cutting one hundred and
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  Speaker 2: fifty staff members the last week, and NewsCorp announced eighty
• 4:37
  Speaker 2: job carts in June, with more to come. For our
• 4:39
  Speaker 2: third and final story, Fujifilm is struggling to keep up
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  Speaker 2: with demand for its cameras as TikTok has made retro
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  Speaker 2: cameras trendy.
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  Speaker 1: Again. Did not think it's a struggling and keeping up
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  Speaker 1: with demand in the same sentence, b man, So tell
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  Speaker 1: us what's going on here?
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  Speaker 2: Well, it's comeback of the century, juzzy boy. Fujifilm is
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  Speaker 2: the photography company that was started up ninety years ago
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  Speaker 2: in Japan.
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  Speaker 1: It started producing cameras film, but then quickly expanded into
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  Speaker 1: the health sector.
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  Speaker 2: We're talking products like glasses, medical imaging, pharmaceuticals, and now beman.
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  Speaker 1: Fuji's photography was thriving in the early two thousands. In fact,
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  Speaker 1: it was even overtaking industry leader Kodak in sales.
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  Speaker 2: But then, of course, came smartphones and those classic silver
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  Speaker 2: digital cameras you'd take on a night out.
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  Speaker 1: They were completely gone.
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  Speaker 2: But now be man, the tide has turned again, and
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  Speaker 2: Fujifilm's got more demand for its old school cameras then
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  Speaker 2: it knows what to do with it. It's become popular
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  Speaker 2: as a status symbol and even a fashion accessory, so.
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  Speaker 1: Much so that its camera division played the biggest role
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  Speaker 1: in the company's record high profit.
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  Speaker 2: YEAP thirty six percent of Fujifilm's operating profit in twenty
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  Speaker 2: twenty three came from its camera division.
• 5:39
  Speaker 1: And this surgeon demand is pretty much all thanks to TikTok.
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  Speaker 1: So what is the key learning here? A pinch of
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  Speaker 1: nostalgia and a dash of TikTok's algorithm and you can
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  Speaker 1: resurrect an entire industry. Big call duzzy boy.
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  Speaker 2: Now, when smartphones came about, camera companies like Fujifilm and
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  Speaker 2: Kodak for that matter, they.
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  Speaker 1: Were as good as gone, sayan Nara, but be man.
• 5:58
  Speaker 1: With the infinite amount of images that and be taken
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  Speaker 1: on smartphones, the idea of valuing each photo has been completely.
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  Speaker 2: Lost, which is why old school cameras have captured the
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  Speaker 2: attention of youngin's on TikTok so, Jazi wait. Companies like Fujifilm,
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  Speaker 2: which we're holding onto the photography arm with their business
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  Speaker 2: by a thread, as seeing a resurgence of demand.
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  Speaker 1: And the man. Photography isn't the only industry seeing a
• 6:18
  Speaker 1: resurgence thanks to TikTok.
• 6:19
  Speaker 2: We've seen vinyl records of past CDs as the most
• 6:22
  Speaker 2: popular physical music format.
• 6:23
  Speaker 1: And even print book sales have been growing by around
• 6:25
  Speaker 1: ten percent year on year after major decline, so josebait.
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  Speaker 2: This gives many almost extinct companies a glimmer of hope
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  Speaker 2: they can still make it come.
• 6:34
  Speaker 1: Back Next up Handkerchiefs coming cool again. Plus am New
• 6:37
  Speaker 1: Financial Year, New Financial Year. Because of the success about
• 6:41
  Speaker 1: fifty percent off deal for flux Pro, we've extended it
• 6:43
  Speaker 1: by one more week. You've got one more week to
• 6:46
  Speaker 1: invest in your financial future at fifty percent off the
• 6:48
  Speaker 1: regular price. To make sure to hit the link in
• 6:50
  Speaker 1: the show notes to access the deal. Thanks for listening
• 6:52
  Speaker 1: and we'll see you on Wednesday.