Luke Vargas

And with Trump proving to be a divisive figure for many Australians, Mike explains how Albanese will be looking to manage the country's future alliance with the U.S.

And with Trump proving to be a divisive figure for many Australians, Mike explains how Albanese will be looking to manage the country's future alliance with the U.S.

To Europe now, where Ukraine has set it down to Russian jet fighters using sea drones equipped with modified U.S.-made missiles in what military officials in Kyiv say is the first such attack in the history of warfare. Russia's military hasn't commented on the attack, which The Wall Street Journal wasn't able to verify.

To Europe now, where Ukraine has set it down to Russian jet fighters using sea drones equipped with modified U.S.-made missiles in what military officials in Kyiv say is the first such attack in the history of warfare. Russia's military hasn't commented on the attack, which The Wall Street Journal wasn't able to verify.

With Russia grinding slowly forward on the battlefield and Ukraine struggling with a deficit of arms and manpower, the shoot-downs demonstrate how Ukraine is finding ever more enterprising means of weakening Russia's much larger military.

With Russia grinding slowly forward on the battlefield and Ukraine struggling with a deficit of arms and manpower, the shoot-downs demonstrate how Ukraine is finding ever more enterprising means of weakening Russia's much larger military.

In other news driving the agenda this week, oil futures are slipping after the OPEC Plus group of producers agreed to raise output for June, marking a second consecutive month of production hikes. In response, Goldman Sachs cut its oil price forecast, with the firm now expecting Brent and West Texas Intermediate Crude to average $56 and $52 a barrel next year, respectively.

In other news driving the agenda this week, oil futures are slipping after the OPEC Plus group of producers agreed to raise output for June, marking a second consecutive month of production hikes. In response, Goldman Sachs cut its oil price forecast, with the firm now expecting Brent and West Texas Intermediate Crude to average $56 and $52 a barrel next year, respectively.

There is no end in sight for the headaches plaguing travelers to and from Newark Liberty International Airport after its leading operator, United, canceled 35 daily roundtrip flights after a group of air traffic controllers took leave amid issues with their radar and radios. Several controllers took trauma-related leave after a similar outage last fall.

There is no end in sight for the headaches plaguing travelers to and from Newark Liberty International Airport after its leading operator, United, canceled 35 daily roundtrip flights after a group of air traffic controllers took leave amid issues with their radar and radios. Several controllers took trauma-related leave after a similar outage last fall.

And the Federal Aviation Administration has at times slowed traffic to Newark as a result of controller staffing issues. Danish drugmaker Novo Nordisk says the U.S. Food and Drug Administration has accepted a new drug application for an oral formulation of its blockbuster obesity treatment, Wegovii.

And the Federal Aviation Administration has at times slowed traffic to Newark as a result of controller staffing issues. Danish drugmaker Novo Nordisk says the U.S. Food and Drug Administration has accepted a new drug application for an oral formulation of its blockbuster obesity treatment, Wegovii.

If approved, it would mark the first so-called GLP-1 drug to be available in pill form amid competition from the likes of Eli Lilly and others. Novo Nordisk said the FDA's deadline to decide on the application will be in the fourth quarter. And it is shaping up to be a busy week in markets, with services PMIs for April due out this morning and earnings from Ford expected this afternoon.

If approved, it would mark the first so-called GLP-1 drug to be available in pill form amid competition from the likes of Eli Lilly and others. Novo Nordisk said the FDA's deadline to decide on the application will be in the fourth quarter. And it is shaping up to be a busy week in markets, with services PMIs for April due out this morning and earnings from Ford expected this afternoon.

Though the biggest set piece will be the Fed's interest rate decision on Wednesday, with the central bank facing pressure from President Trump to lower rates sooner than the current June forecast. Coming up, potent powder and narco subs are driving a global surge in cocaine smuggling. We'll get the latest from Columbia on the exploding coca trade alarming American officials after the break.

Though the biggest set piece will be the Fed's interest rate decision on Wednesday, with the central bank facing pressure from President Trump to lower rates sooner than the current June forecast. Coming up, potent powder and narco subs are driving a global surge in cocaine smuggling. We'll get the latest from Columbia on the exploding coca trade alarming American officials after the break.

Global cocaine supply has hit an all-time high, and while production has been steadily climbing for the past decade, drug officials are growing increasingly alarmed over the sheer speed of coca growth and new undersea modes of transport as the potent powder reaches new and faraway markets. Our South America Bureau Chief Juan Ferrero has been tracking cocaine production in Colombia.

Global cocaine supply has hit an all-time high, and while production has been steadily climbing for the past decade, drug officials are growing increasingly alarmed over the sheer speed of coca growth and new undersea modes of transport as the potent powder reaches new and faraway markets. Our South America Bureau Chief Juan Ferrero has been tracking cocaine production in Colombia.

Juan, bring us up to speed here. What has shifted in the past few years?

Juan, bring us up to speed here. What has shifted in the past few years?