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Cocaine use also reaches record highs, Australian Criminal Intelligence Commission figures showGet our breaking news email, free app or daily news podcastMethamphetamine use in Australia has almost doubled in the past decade and stimulants are being taken at record highs, new wastewater monitoring reveals.On Wednesday evening the Australian Criminal Intelligence Commission (Acic) released its latest annual report after testing wastewater samples from 64 treatment plants across the country between August 2024 and 2025. Continue reading...

The NSW premier, who was unequivocal in the wake of the Bondi terror attack, has now linked the fate of his state’s laws with those of the Queensland legal challengeFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe New South Wales premier, Chris Minns, has said he will only ban the slogan “globalise the intifada” if a potential constitutional challenge to a similar ban in Queensland is unsuccessful, the strongest indication yet that the state government may not seek to proscribe the contested phrase at all.Minns was unequivocal about his intention to ban what he described as “hateful, violent rhetoric” following the Bondi terror attack in December, but sent the issue to a parliamentary inquiry, which he said would enable legislation to be introduced when parliament returned in February. Continue reading...

• UN International Maritime Organization Secretary-General Arsenio Dominguez stated that the blockading of ships in the Strait of Hormuz due to the US-Iran conflict has turned international shipping and seafarers into leverage in geopolitical disputes. • The crisis highlights how vessels and crews, not involved in the conflict, are being caught up in hostilities between the United States and Iran, disrupting global trade routes. • This development underscores critical weaknesses in global shipping networks, potentially leading to supply chain disruptions, higher costs, and risks to maritime security worldwide.

Industry analysts say fuel price surge could lead to canceled flight routes that could snarl travelers’ plansCalifornia’s jet fuel supply has dropped to a level not seen since 2023, as turmoil in the Middle East continues to squeeze the global oil market.As of 17 April, the state’s jet fuel stock was just over 2.6m barrels, in comparison to 3.2m barrels two years prior, according to the California energy commission (CEC), which publishes a refinery stocks data dashboard. Continue reading...

‘Coalition of the willing’ gathers in Colombia to try to bypass petrostate blockages of Cop summits and chart fresh pathThe world’s first Transitioning Away from Fossil Fuels conference, co-hosted by Colombia and the Netherlands, takes place in Santa Marta, Colombia, from 24 to 29 April. A “coalition of the willing” – including 54 countries and various subnational governments, civil society groups and academics – will try to chart a new path to powering the world with low-carbon energy. Continue reading...

• U.S. lawmakers and foreign policy analysts have reached bipartisan consensus that Russia and Iran have formed a "transformational" military alliance that extends far beyond diplomatic convenience, fundamentally reshaping conflicts in Ukraine and the Middle East. • The alliance involves weapons transfers, intelligence sharing, and sanctions-evasion tactics, with experts describing the relationship's trajectory as shifting "from turbulent to transactional to transformational" following Russia's 2022 full-scale invasion of Ukraine. • Senator Tom Tillis emphasized the lethal implications for American personnel, stating that intelligence and satellite data sharing between Moscow and Tehran directly endangers U.S. service members deployed globally.

HMRC owed more than £640,00 by company that advised clients such as TikTok, GSK and PalantirPeter Mandelson’s former consultancy business, Global Counsel, went bust owing £4.6m – including more than £600,000 to the taxman – a report by the group’s administrators reveals.The company, which provided advice to high-profile clients including Chinese-owned TikTok, US tech business Palantir and UK pharmaceutical firm GSK, collapsed into administration in February, after it lost a series of accounts over the peer’s relationship with the convicted child sex offender Jeffrey Epstein. Continue reading...

There are now 3,110 billionaires but analysis shows ‘deep structural acceleration’ in wealth creation around worldThe number of billionaires in the world could reach nearly 4,000 by 2031, figures suggest, as the super-rich accumulate wealth at an accelerating rate.There are now 3,110 billionaires globally, according to analysis by the estate agent Knight Frank. This is forecast to rise by 25% over the next five years, taking the total to 3,915. Continue reading...

Islamabad has seized chance to act as mediator in Iran war and hopes to reap diplomatic and economic benefitsMiddle East crisis – live updatesAs Pakistan works frantically to narrow differences between Iran and the US in its newfound role as global peacemaker, it is also seeking to recast its diplomatic standing and attract business.Pakistani officials, mediating between an unpredictable US president and hardliners in Tehran, were on Monday trying to coax both sides to put the conditions in place for a second round of talks in Islamabad this week, including easing the standoff in the strait of Hormuz. Pakistan was optimistic that the meeting would happen, viewing objections voiced by the Iranian side and Donald Trump’s threats as posturing for domestic audiences. Continue reading...

• Scale AI raised $2.5 billion in fresh funding on April 19, 2026, at a $15 billion valuation, backed by Meta and Tiger Global. • Capital expands US data annotation workforce to 50,000, focusing on synthetic data for autonomous vehicles and LLMs. • Funding counters labor-intensive bottlenecks in AI training, vital for US competitiveness.

• Global financial markets experienced significant volatility during April 12-18, 2026, driven by geopolitical tensions impacting commodity prices. • Oil prices surged higher amid international tensions, affecting energy stocks and broader market sentiment across equities and bonds. • India's retail investor base continues reshaping capital markets, contributing to shifts in the financial landscape alongside global macroeconomic pressures.

Another lawyer says ruling ‘puts brakes on the Minns government’s ability to use executive power to minimise people’s rights to protest’Get our breaking news email, free app or daily news podcastThe Minns government should think twice before imposing an outright ban on the phrase “globalise the intifada” in the wake of a landmark finding that could limit attempts to control speech and protests, a leading constitutional expert has said.New South Wales’ highest court ruled in favour of the Palestine Action Group and Blak Caucas on Thursday, striking down an anti-protest law introduced after the Bondi beach terror attack that gave police the power to restrict marches, including the anti-Herzog rally in February. Continue reading...

• IMF lowered its 2026 global growth forecast to 3.1% from 3.3% due to US-Iran conflict impacts. • The cut assumes contained conflict with 19% energy price rise, but escalation could drop growth to 2%. • 2027 outlook held at 3.2%, with effects expected to ease by mid-2026.

• The United Kingdom, United States, Italy, and France have jointly emphasized the urgent need for peace, stability, and long-term prosperity in the Middle East as the Iran crisis threatens global economic and security interests. • The four Western powers are coordinating on a de-escalation strategy focused on protecting civilian lives, safeguarding global energy routes, and reopening key trade corridors including the Strait of Hormuz. • Western officials have highlighted concerns over global energy disruption, inflation risks, and the need for immediate diplomatic resolution amid the escalating regional tensions.

Conflict is pushing up price of energy and food, fuelling higher borrowing costs and hitting growth, report saysIran war escalation could trigger global recession, IMF warnsBusiness live – latest updatesThe Iran war risks triggering a rise in global debt levels, forcing governments to choose between cushioning a cost of living shock and maintaining sound public finances, the International Monetary Fund has warned.Against a volatile backdrop of the Middle East conflict, the Washington-based fund said the war could add to the already strained position of government finances throughout the world. Continue reading...

As treasurer Jim Chalmers weighs ‘extreme uncertainty’, one economic scenario sees global growth plunging to just 2% in 2026Get our breaking news email, free app or daily news podcastThe International Monetary Fund has warned the US-Israel war on Iran risks creating an “energy crisis of an unprecedented scale” that could tip the global economy towards recession.The grim warning contained in the IMF’s latest World Economic Outlook comes as Jim Chalmers prepares to attend the organisation’s spring meetings in Washington DC this week, where he said he would be “joining with other countries continuing to call for an enduring end to the war”. Continue reading...

UK suffers sharpest downgrade and is predicted to face joint highest inflation in G7 as growth forecasts are cutBusiness live – latest updatesA further escalation in the Iran war could trigger a global recession, spiralling inflation and a sharp backlash in financial markets, the International Monetary Fund has warned.Against an increasingly volatile backdrop, the Washington-based fund said the economic damage from the Middle East conflict was steadily rising as it cut its growth forecasts for 2026 based on the impact from the war so far. Continue reading...

This year’s conference had plenty of newsworthy aspects, but it’s a mystery why the press fails to talk about itThe 72nd meeting of the Bilderberg group, the elite and secretive policy conference that is the longtime subject of endless conspiracy theories, was held at the weekend in Washington DC. A security cordon went up around the opulent Salamander hotel for the notoriously media-shy summit, which was packed as ever with prime ministers, military leaders, tech billionaires and the heads of giant investment companies.Bilderberg, which since the 1950s has been the intellectual engine room of Nato, took place this year at a time of immense crisis and uncertainty for the alliance. In recent weeks, with Trump threatening at every turn to withdraw from the “paper tiger” of Nato, the “Trans-Atlantic Defence-Industrial Relationship” (as it’s called on the agenda) has reached a strained breaking point. Continue reading...

The 11-time Grammy winner had a net favorability of 65%, Obama came second with 14%, while Zelenskyy had 12%For the US public, the feeling that Dolly Parton expressed in her country music chart-topping 1974 classic I Will Always Love You is clearly mutual.A poll of Americans’ opinions about more than 20 international luminaries established as much, with the 11-time Grammy winner and philanthropist leaving her two closest competitors – Barack Obama and Volodymyr Zelenskyy – in the dust by more than 50 percentage points. Continue reading...

• Finance ministers and central bank governors gathered in Washington for IMF and World Bank Spring Meetings are confronting an unprecedented global energy shock caused by the Iran war and Strait of Hormuz closure, according to IMF Managing Director Kristalina Georgieva. • Georgieva warned that "there will be no neat and clean return to the status quo ante," indicating long-term economic impacts regardless of ceasefire outcomes or efforts to reopen shipping routes. • The energy crisis is already affecting hundreds of millions of people globally, with decisions made at the meetings regarding resource allocation and emergency funding expected to have tangible impacts on livelihoods in the coming weeks.

Developing countries face possible shelving of crucial green action plan at IMF and World Bank spring meetingsGovernments desperate for cash to protect their citizens from the growing impacts of the climate crisis are being put in a “beyond absurd” situation this week at global finance talks: they are being urged not to mention the climate, even as they address the current oil crisis.The International Monetary Fund (IMF) and the World Bank Group (WBG) spring meetings take place this week amid a fragile ceasefire in Iran and upended geopolitics. One of the priorities was to forge a new “climate change action plan” (CCAP) for the world’s biggest provider of funds to developing countries, to replace the current strategy, which expires in June. Continue reading...

• President released Fiscal Year 2027 budget request on April 10, 2026, proposing 46% cuts to global health programs under a consolidated account aligned with America First Global Health Strategy. • Cuts eliminate funding for HIV prevention like voluntary medical male circumcision, LGBTQ programming, and reproductive health services; also includes 12% NIH budget reduction. • Proposal signals deprioritization of science and research amid administration's rejection of Congress's appropriations power; Congress historically rejects such deep cuts.

Kristalina Georgieva says even ‘most hopeful scenario’ will lead to growth downgrade and cause permanent hit to living standardsBusiness live – latest updatesThe head of the International Monetary Fund has warned that the Iran war will permanently scar the global economy even if a durable peace deal in the Middle East can be reached.In a speech delivered as the ceasefire in the conflict threatens to unravel, Kristalina Georgieva said the “scarring effects” caused by the war to date would mean slower global growth this year than first anticipated. Continue reading...

Senior climate figures warn North Sea drilling would encourage fossil fuel exploitation by developing countriesOpening new oil and gas fields in the North Sea would “send a shock wave around the world”, imperilling international climate targets, undermining the UK’s climate leadership and encouraging developing countries to exploit their own fossil fuel reserves, experts have warned.The UK government is under stiff pressure from the oil industry, the Conservatives, Nigel Farage’s Reform UK party, some trade unions and parts of the Treasury to give the green light to new oil and gas fields, despite clear evidence that doing so would not cut prices and would have almost no effect on imports. Continue reading...

• Oil prices spiked sharply as geopolitical tensions escalated between Iran and the United States following military confrontations. • The U.S. dollar recovered against major currencies as investors sought safe-haven assets amid rising uncertainty. • Energy markets remain volatile with traders closely monitoring developments in Middle East tensions and their impact on global supply chains.

• Recent geopolitical tensions are fundamentally altering maritime shipping routes for energy commodities worldwide. • Energy shipping companies are implementing agile strategies to navigate heightened tensions and supply chain disruptions. • The shift in maritime logistics has broader implications for global energy prices and international trade networks.

• Oil prices surged as geopolitical tensions related to the Iran war intensified, with the Strait of Hormuz blockade causing the largest global oil supply disruption since the 1970s energy crisis. • The US dollar strengthened amid escalating geopolitical risk, reflecting investor flight to safe-haven assets as financial markets react to the conflict's economic impact on energy supplies and global trade.

• The US-Israeli war on Iran, initiated February 28, 2026, with strikes on leadership and nuclear facilities, has led to Iran's Strait of Hormuz closure, rivaling 1970s oil crises. • Supreme Leader Ali Khamenei's killing sparked Iranian strikes on Israel and US bases, disrupting 20% of global oil transit and surging prices by 40%. • US markets face inflation risks, with experts warning of recession if chokepoint remains closed beyond two weeks.