Treasurer Jim Chalmers has handed down his second Budget, outlining how Labor is preparing Australians for its ‘defining decade’ by helping with cost-of-living pressures.

Treasurer Jim Chalmers has warned economic growth is expected to slow to 1.5 per cent in 2024.

Higher interest rates have helped deliver a 10 per cent boost to the major banks’ collective earnings, but weakening economic activity and heightened competition have dimmed the outlook.

Amid aged care funding discussions, new research reveals 73 per cent of Australians would be willing to forego an inheritance to let older family members enjoy a comfortable retirement.

Both fund management firms have launched two new exchange-traded funds with a focus on developed markets, infrastructure and real estate trusts.

While Europe steams ahead with sustainable investment, Australian investors sit on two ends of the ESG spectrum when it comes to sustainable funds, according to ClearBridge.

As developed economies continue to tackle inflationary pressures, emerging markets are rebounding over their inflation curve and into a growth period.