How Australia Became the World’s Cocaine Capital

Good morning, Australia isn’t a country that usually tops global drug charts. But when it comes to cocaine, it’s climbing fast — and the people driving the surge might not look like the stereotype. Colleague Angus Whitley digs deeper into the booming trade, delivering a stark warning that the drug has consequences far beyond a night out.

Meanwhile, just as uncertainty over artificial intelligence rocks global markets, Commonwealth Bank is rolling the dice on the technology — again. The lender is hoping to develop AI skills among its workers in a move that is expected to see hundreds lose their jobs, according to union estimates - Richard Henderson, cross-asset reporter

Australia has the highest rate of cocaine use in the world. One in 20 Australians use cocaine each year, twice the rate of Americans. The trade links the country to criminal enterprises behind murder, human trafficking and extortion.

Commonwealth Bank of Australia has unveiled an a A$90 million ($64 million) initiative to up-skill its workforce in AI. The bank didn’t say how many jobs would be lost due to the move, which Australia’s Finance Sector Union pegs at around 300.