Latest news with #TheBloombergAustraliaPodcast
Mint
26-06-2025
- Mint
The World's Biggest Users of Cocaine Are in Australia
(Bloomberg) -- Australia and New Zealand are the world's biggest users of cocaine, as global consumption of the illicit drug reaches record highs, the United Nations Office on Drugs and Crime said in its latest report. While more people use cocaine in the Americas than anywhere else, per-capita consumption is most prevalent in Australia and New Zealand, according to the World Drug Report 2025. Waste-water analysis suggests most people there are using cocaine only occasionally, the report said. Some 3% of those aged 15 to 64 in Australia and New Zealand used cocaine in 2023, the report said. That's almost double the proportion in the Americas, and nearly triple the percentage in Europe — the next-biggest consumers of the drug, the report said. The report painted a bleak picture of the worldwide battle against illegal drugs and the criminals behind them, and said a new era of global instability has intensified the challenge. Production volumes, seizures and use of cocaine all hit records in 2023, making it the world's fastest-growing illegal drug market, the UN said. In total, an estimated 316 million people used illicit drugs in the period. 'Organized drug trafficking groups continue to adapt, exploit global crises and target vulnerable populations,' Ghada Waly, executive director of the UNODC, said in a statement. 'We must invest in prevention and address the root causes of the drug trade at every point of the illicit supply chain.' Cocaine traffickers are breaking into new regions of Asia and Africa, the report said. But the relative wealth of Australia, and the price that users in the country are willing to pay for drugs, has long made it an attractive market for criminals. The country's vast seaboard also makes it hard for border authorities to intercept illegal shipments. Subscribe to The Bloomberg Australia Podcast on Apple, Spotify, on YouTube, or wherever you listen. Australian Federal Police pulled off a record cocaine seizure in December when they uncovered an attempt to import 2.34 tons of the drug into the country by sea. The cocaine had a street value of A$760 million ($496 million) with the potential to equate to 11.7 million street deals, authorities said. Thirteen people were charged. The UN report said cannabis remains the world's most widely used drug with 244 million users, representing 4.6% of the global population aged between 15 and 64. In Australia and New Zealand, prevalence of cannabis use was recorded at more than 12%, the report said. The use of ecstasy — also known as molly or MDMA — in Australia and New Zealand remained by far the highest worldwide, the report said. (Adds metrics in third paragraph, chart.) More stories like this are available on
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Business Standard
16-06-2025
- Business
- Business Standard
Australians equally distrust both Donald Trump, Xi Jinping, survey finds
Australians are equally distrustful of both US President Donald Trump and Chinese leader Xi Jinping, according to a new survey, complicating Canberra's task of managing ties with its key security ally and biggest trading partner. A new survey released by the Lowy Institute think tank in Sydney showed that 72 per cent of respondents said they didn't trust Trump to act responsibly in global affairs, just edging out the 71 per cent who said they didn't trust China's Xi. When asked whether Trump or Xi would be a better partner for Australia, the two leaders were tied at 45 per cent apiece. The results come as Prime Minister Anthony Albanese attends a Group of Seven meeting in Canada, where he could hold his first face-to-face meeting with the US president. Albanese will be hoping to negotiate an exemption on US steel and aluminum tariffs for Australia, as well as trying to secure Trump's support for Aukus following the announcement in Washington of a review of the security accord. Subscribe to The Bloomberg Australia Podcast on Apple, Spotify, on YouTube, or wherever you listen. Albanese's balancing act with Trump is a difficult one. Australians' faith in the US has deteriorated following the president's return to the White House. Trust in America as a global player has fallen to just 36 per cent, by far the lowest result in the Lowy survey's 20-year history. Yet despite an aversion to Trump, Australians aren't ready to move away from the US as the nation's primary security partner. The survey showed consistent support for the US alliance, with 80 per cent of respondents saying America was important for Australia's security.
Bloomberg
15-05-2025
- Business
- Bloomberg
What's Going Wrong at Some Of Australia's Biggest Banks?
On this week's Australia Podcast: As the regulator launches yet another probe into bank trading, what is going wrong at some of our biggest financial institutions? Never miss an episode. Follow The Bloomberg Australia Podcast today. Australia's finance industry is beset by a raft of compliance lapses, from data reporting breaches to trader misbehavior. Macquarie was targeted yet again this week in a civil action filed by the Australian Securities & Investment Commission.
Bloomberg
29-04-2025
- Business
- Bloomberg
Can Australia's Housing Crisis Be Fixed?
Never miss an episode. Follow The Bloomberg Australia Podcast today. Australian capital city house prices continue to rise, and hotly anticipated interest rate cuts later this year could add further fuel to the fire, leaving some buyers and renters struggling to keep roofs over their heads. This week on the podcast, host Chris Bourke talks to Brendan Coates, the Housing and Economic Security Program Director at the Grattan Institute, about what Prime Minister Anthony Albanese and opposition leader Peter Dutton are promising to do about the affordability crisis if elected on May 3.
Bloomberg
24-04-2025
- Business
- Bloomberg
An Investor's Guide to the Australian Election
Never miss an episode. Follow The Bloomberg Australia Podcast today. As voters start heading to the polls in the Australian election, the market turbulence from Donald Trump's trade war continues to drown out much of the leaders' campaigns - even as some policies could impact investments across a range of asset classes. This week on the podcast, host Chris Bourke asks cross-asset reporter Richard Henderson: what should investors be watching out for in the days running up to the May 3 vote - and beyond? Read more: How Australia's First-Time Voters Feel About the 2025 Election Further listening: What Messy Stock Markets and The Election Mean For Your Super
