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Australia's largest taxi payment provider, Cabcharge, is rolling out new technology to address complaints about taxi services nationwide with a recent surge of drivers not using their meters and attempting to overcharge passengers. Julie-anne Sprague talked to Cabcharge Chief Gary Becus about how endemic dodgy taxi drivers have become in Australia's capital cities, and how one of the world's biggest fare companies is dealing with the issue. Yet Consumer Advocate Adam Glezer argued that the lengths don't go far enough, and the taxi industry as a whole is suffering because of the stigma. See omnystudio.com/listener for privacy information.
Cabcharge chief operating officer, Gary Becus, warns taxi drivers will find loopholes in order to get more money from passengers.See omnystudio.com/listener for privacy information.
New technology from Cabcharge will see taxi drivers unable to overcharge passengers, in a move described as "a step in the right direction".See omnystudio.com/listener for privacy information.
Yesterday the ASX200 closed in the green. The materials sector made strong gains as iron ore in the spot market rose. Meanwhile tech shares declined the most, as Australia's 10-year bond yield exceeded 2.1%, reaching the highest level since the beginning of 2019. This saw a sell-off in tech stocks, which tend to be more sensitive to interest rates.On the ASX200, travel stocks gained for a second session. Webjet (ASX:WEB), Flight Centre (ASX:FLT) and Corporate Travel Management (ASX:CTD) all made the leaderboard. Casino owner Skycity Entertainment (ASX:SKC) and Star Entertainment (ASX:SGR) also made the top 10, boosted by confidence for tourism.The most traded stock yesterday by Bell Direct clients was A2B Australia (ASX:A2B), which is home to brands such as 13cabs, Cabcharge and EFT Solutions. Its share price gained over 12% yesterday, after the departure of chief executive Andrew Skelton. The company also launched a strategic review of operations.European markets closed mixed as investors await US inflation data, out later this week, while US equities gained. The Dow closed up 1.06%, the S&P500 up 0.84 and the Nasdaq up 1.28%.The ASX200 is set open higher. The SPI futures are suggesting a 0.27% rise at the open this morning.What to watch today:In economic news, yesterday NAB's business confidence Index for January was released, with confidence bouncing back to 3 index points, from -12 points in December. Today, Westpac's Consumer Confidence Index for February will be released at 10:30am AEDT.The oil price has fallen to US$89.64 a barrel, as attention was turned to the Iran nuclear talks that are set to resume today.Gold is higher, trading at US$1,826 an ounce, as the dollar rebounded ahead of US inflation data later in the week.The seaborne iron ore price is trading at US$148.83 a tonne.Commonwealth Bank (ASX:CBA) reported its half-year results this morning, delivering strong financial and operational performance. Statutory NPAT increased by 26% and CBA declared a $1.75 fully franked interim dividend, up 17% from this time last year. Look out for our full report on CBA later today.Other companies reporting their earnings results today include Centuria Capital Group (ASX:CNI), Dexus (ASX:DXS), Mineral Resources (ASX:MIN) and Northern Star Resources (ASX:NST).ResMed (ASX:RMD) is set to go ex-dividend today, which may see its share price fall as investors take their profits.Trading Ideas:Bell Potter and Macquarie have different views on global mining-tech company Imdex (ASX:IMD), after the company reporting its earnings this week. Half-year revenue is up 35% to $167.8 million and NPAT is up more than 80% at $24.4 million. And Imdex declared a fully franked interim dividend of 1.5 cps. Following the report, Bell Potter have downgraded IMD from a BUY to a HOLD, maintaining a $3 price target. On another note, Macquarie retain their Outperform rating on IMD and have increased their price target from $2.90 to $3.30. IMD's revenue and earnings beat Macquarie's expectations by 13%.Trading Central have identified a bullish signal in Mincor Resources (ASX:MCR), indicating that the stock price my rise from the $1.71 to the range of $2.06 - $2.14, within 18 days, according to the standard principles of technical analysis.
Andrew Campbell - CEO and Founder and of GoCatch – The disruptive taxi service, on focus and perseverance In this episode of the Human Potential Podcast our host, Oliver Freer, talks with Andrew Campbell, the CEO and Founder of GoCatch, about Disruptive Innovation, Complex Product Management, the required technological skills to thrive in the future and the importance of developing focus and perseverance.More About Andrew CampbellAndrew Campbell is the founder GoCatch, one of Australia’s most disruptive technology Startups. Within 4 years he had built a $20m business and transformed customer experience in the taxi industry, despite fierce competition from Cabcharge and Uber.Along the way, Andrew raised $13m in corporate and government funding, built a talented, passionate team, negotiated with state transport departments, won numerous business awards including the $50,000 first prize at Tech-23 for the best Startup pitch.In 2014, with $4.5 million in the bank and 10% month-on-month growth, Andrew exited GoCatch and began mentoring up and coming Startup entrepreneurs.In less than 2 years since leaving GoCatch, Andrew mentored over fifty tech entrepreneurs who are all disrupting their market segments with new technologies and business models.Andrew is one of Australia’s leading experts on Startups, disruptive technology and corporate innovation. Andrew’s book recommendations;The trilogy of uniquely informative books; Sapiens, Homo Deus and 21 Lessonsby Yuval Noah HarariandThe Greatest Knight: The Remarkable Life of William Marshal, the Power Behind Five English Thrones by Thomas Asbridge.
The ACCC has released an updated look at NBN and Broadband speeds with Aussie Broadband and My Republic results released for the first time, and there's movement - TPG, iiNet and Telstra slow down, while Aussie impresses. Stephen goes inside the high-tech NRL bunker, Cabcharge goes into the Apple Wallet Samsung throws some new tablets into the market ahead of next week's big NOTE event, Google as a new bigger, louder more powerful HOME speaker the MAX, Trev tests the Uniden solar powered portable battery, Stephen looks at the NVIDIA Android Gaming box and Trev throws a spotlight on the porch.
The ACCC has released an updated look at NBN and Broadband speeds with Aussie Broadband and My Republic results released for the first time, and there's movement - TPG, iiNet and Telstra slow down, while Aussie impresses. Stephen goes inside the high-tech NRL bunker, Cabcharge goes into the Apple Wallet Samsung throws some new tablets into the market ahead of next week's big NOTE event, Google as a new bigger, louder more powerful HOME speaker the MAX, Trev tests the Uniden solar powered portable battery, Stephen looks at the NVIDIA Android Gaming box and Trev throws a spotlight on the porch.
Something we wanted to understand through this podcast is how expert investors find, evaluate and make decisions on stocks. End-to-end, what is their process? Andrew Brown, Executive Director of East 72 Holdings and first repeat podcast guest, agreed to spend some time walking through his process for a company he recently invested in. If you want to understand how expert investors think and understand what they look for, then this episode is for you. [If you haven't listened to Part 1 of our interview with Andrew Brown (episode 52 here), we'd suggest checking that out first] In this episode you will learn: • How Andrew identified Cabcharge as a potential investment. • Andrew's research process to study the company. • Why Andrew drove Uber for 3 months, and what he discovered. • How Andrew identified and valued 'non-core' assets the business owned. • The questions Andrew took to the Cabcharge auditor at their Annual General Meeting. • How Andrew then looked at Cabcharge's balance sheet and valued the business. • What happened with Cabcharge between our first interview and now. • Andrew's approach to managing his investments and staying on top of information once he's made a trade. Stocks and Resources Discussed: • Cabcharge (ASX: CAB)
This episode marks a first for Equity Mates. Our first repeat guest! Who better to have back on than Andrew Brown, the Executive Director of East 72 Holdings. Andrew is one of the most insightful investors we've met in our time doing Equity Mates, and is a true contrarian. Do you think the internet has made old media a bad investment? Not Andrew, who since our first interview last year has done extremely well investing in legacy media companies like News Corp, Fairfax and Channel 9. Or do you think Uber's rise means we should avoid investing in the taxi industry? Not Andrew, who has been investing in Cabcharge (he takes us through his logic behind the Cabcharge investment in great detail in part 2 of this interview, to be released Thursday). So we hope you all enjoy listening to Andrew as much as we enjoyed talking to him. In this episode you will learn: • Who Andrew is and how he invests at East 72 Holdings. • How Andrew's stock tips from our last interview are going. • Andrew's thoughts on McGrath Real Estate's struggles. • Why Andrew's old-school media picks have done so well over the last year. • Why Andrew isn't backing down from his Apple short (Even after Warren Buffett has invested in the American tech giant). • Good ways to manage investing information. • The information sources Andrew doesn't consider valuable. • Where you can find client letters from some of the world's best hedge funds. • How Alec managed to overload his inbox trying to keep up with information. • How Twitter helped build the case against Blue Sky Stocks and Resources Discussed: • PM Capital Global Opportunities Fund (ASX: PGF) • McGrath Real Estate (ASX: MEA) • Kogan (ASX: KGN) • News Corp (ASX: NSW) • Nine entertainment group (ASX: NEC) • Fairfax (ASX: FXJ) • Domain (ASX: DHG) • Apple Inc (NASDAQ: AAPL) • Subreddit 'Security Analysis' • The three hedge fund letters Andrew mentioned: • Horizon Kinetics • Greenhaven Road • Greenwood Investments • Blue Sky Alternative Investments (ASX: BLA) [We know the audio isn't perfect in this interview (especially with the background noise between 30min - 33min). Trust us, it's worth persevering. Every time we speak to Andrew we leave as better investors and we're confident listening to him will have the same impact on you.]