Iran-backed Houthi forces in Yemen took control of the strategic Red Sea town of Mocha on Thursday, which sits near the Bab al-Mandeb strait linking Asia and Europe via the Suez Canal and handles the transport of millions of barrels of oil each day. The development has heightened global concerns about shipping security. It could also further expand Iran’s influence over a key international waterway.

Australia’s headline inflation eased slightly to 3.5% in July, but it remains well above the Reserve Bank of Australia’s 2–3% target band. Core inflation, measured by the trimmed mean, held at 3.6% and was also higher than forecasts. RBA officials have reiterated the need to return inflation to the target range, lifting market expectations of a fourth rate rise later this month. If the cash rate is lifted again, it could reach a 15-year high.

A failure in National Air Traffic Services’ flight processing system on Sept. 8 led to at least 625 flight cancellations across the UK, with London Heathrow most affected. More than 65,000 passengers were delayed by up to eight hours. NATS said at 7.30pm on Sept. 8 the problem had been fixed, but widespread cancellations and diversions had already left tens of thousands stranded.

An RBA assistant governor said the central bank’s concerns about inflation are intensifying and signalled it could lift rates again this year if price growth remains outside its 2%–3% target range. The cash rate is currently 4.35%. Although July inflation eased to 3.5%, it was still above expectations. Markets are now pricing the first rate cut as late as August 2027.

Australia will end its fuel excise cut from Sunday, lifting the tax on petrol by 16 cents per litre. The move is expected to add about A$9 to a 50-litre fill or roughly A$11 to a 65-litre tank. The temporary tax break had been extended by a month after it was due to end on July 1, amid volatile global oil prices linked to the continuing Middle East war.

Australia’s Commonwealth Bank will automatically move 1.5 million low-income customers into fee-free accounts following a regulatory ruling. The bank will also remediate A$270 million in fees it improperly charged over the past five years. CBA has agreed to pay around A$68 million in goodwill compensation.

First Guardian and Shield Master funds entered liquidation in April 2025, freezing or wiping out A$446 million in superannuation savings for nearly 6000 investors. One investor said his account balance fell from A$180,547 to A$4106 after his money was routed via YourChoice Super into First Guardian Diversified Strategies. A November 2025 letter to him marked A$178,557.45 as “frozen”. The case has highlighted weaknesses in superannuation oversight, including transparency into underlying assets, custody compliance and risk disclosure.

Australia’s wine export value fell 7% year on year to $2.3 billion in the financial year ended June 30, while export volumes dropped by 41 million litres to below 600 million litres, the lowest since 2004. Exports to China fell by $756 million, largely due to tariff barriers. Volumes shipped to the UK hit a 25-year low, and sales to the US declined by about 27%. The slump highlights a broader weakening in demand across major markets, hitting Australia’s agricultural supply chain, particularly wine grapes and downstream processing.

Australia’s Labor government moved in June to ban self-managed super funds (SMSFs) from entering new borrowing arrangements for residential mortgages as part of a last-minute deal with the Greens to pass its tax reform package. A survey by the Australian Finance Industry Association (AFIA) found member institutions wrote more than 16,000 new SMSF loans for new and existing homes in the 2025–26 financial year, compared with the government’s estimate of 4,000. AFIA said the change was introduced without consultation or clear transitional guidance, creating uncertainty for lenders and borrowers with transactions already underway.