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Australia's economy grew at the fastest annual pace in almost three years in the December quarter, data showed on Wednesday, a pickup that reignited inflation and required a hike in interest rates to tamp demand down, Reuters reported. The outlook, however, has been darkened by the Middle East conflict, which has effectively halted oil flows through the Strait of Hormuz and pushed prices up more than 10%. Australia is a net energy exporter but sustained oil rises act as a tax on consumers and businesses.
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After the Supreme Court struck down the legal basis for President Trump’s sweeping tariffs on Friday, many U.S. trading partners saw the tariff rate on their goods lowered from what they faced before the ruling. But for others, like Britain and Australia, the math went the other way, the New York Times reported. Britain became the first country to reach a trade deal during Mr. Trump’s second term, and both governments emphasized the “special relationship” between the two countries.
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Jason Sward from Queensland, Australia, has landed himself with 2.5 years behind bars for multiple indictable offences, with six months imprisonment for each offence, to be served concurrently, AccountantsDaily.com reported. Sentenced in the Southport District Court, Sward was released on recognisance of $2,000 after pleading guilty to the six offences of:
· Two offences of disposing of property within 12 months before a petition has been filed with intent to defraud creditors.
· Disposing of property after a petition had been filed with intent to defraud creditors.
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Recent research from the Australian Financial Security Authority (AFSA) has unveiled a jump in personal insolvencies during December 2025, with a total of 1,063 new personal insolvencies being recorded over the month, AccountantsDaily.com.au reported. This was noted to be a rise from 992 in November 2025 and a rise from 828 in December 2024, with the most common employment industries entering personal insolvency being construction, health care and social assistance.
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Australia's labour market has stabilised from a slowdown and remains tight, consistent with stubborn inflationary pressures in the economy, a senior central bank official said on Thursday, Reuters reported. Sarah Hunter, assistant governor at the Reserve Bank of Australia, said the central bank was closely monitoring conditions in the labour market to help assess how much the pick-up in inflation could be temporary.
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According to the Australian Financial Security Authority (AFSA), 344 people who entered personal insolvency in December 2025 were also involved in a business, up from 249 a year earlier – a 38% year-on-year increase, BrokerNews.com.au reported. That December figure has climbed steadily over four years, from 163 in 2022 to 232 in 2023, 249 in 2024 and now 344, pointing to a structural shift rather than a single-month anomaly.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.