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 SBS News is Australia's trusted news source for the latest news from Australia and across the world. Subscribe to the SBS News YouTube channel:    / @sbsnews   Follow SBS News on Instagram:   / sbsnews_au   Follow SBS News on TikTok:   / sbsnews_au   Follow SBS News on X:   / sbsnews   Follow SBS News on Facebook:   / sbsnews   Apple News: https://trib.al/MTx0gUe For the latest news, visit www.sbs.com.au/news Network Terms & Conditions: https://sbs.com.au/terms Privacy Policy: https://sbs.com.au/privacy Feedback or complaints: https://sbs.com.au/complaints