Canva restructure | Banks lift rates | David Jones future
Graphic design company Canva reveals huge restructure impacting more than 1,200 workers or a fifth of its workforce; Australia’s big four banks confirm they’ll pass on yesterday’s RBA rate rise; and Westfield’s owner Scentre Group moves to clarify its exposure to David Jones amid reports it may enter voluntary administration.
00:00 Canva, one of Australia’s most successful startup companies, has announced it will cut or relocate more than 1,200 jobs
02:55 Households with a mortgage are continuing to bear the brunt of the rising cost of living, according to the ABS
04:09 Each of the big four banks have confirmed they will pass on Tuesday’s interest rate rise in full to their variable customers
04:39 The ASX fell today after declines in the materials sector
05:33 Gold rose by nearly 2 percent, while oil fell
05:49 The owners of Westfield have clarified its exposure to department store David Jones, following media speculation over its future
Ricardo Gonçalves breaks down the day’s financial news in On The Money.
#Canva #RBARateRise #InterestRates #AustralianEconomy #DavidJones #FinanceNews
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