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Tehran Signals Defiance as Supreme Leader Vows Retaliation and Strait Closure

  A man holds a picture of Iran's new supreme leader, Mojtaba Khamenei, while people attend a funeral ceremony for the Iranian military commanders who were killed in strikes, in Tehran Iran’s Supreme Leader issued his first public remarks following the deaths of senior Iranian commanders, vowing that the country will “avenge the martyrs” and maintain the closure of the strategic Strait of Hormuz until what he described as “justice” is served. His comments, delivered during a nationally broadcast address, underscore a sharp escalation in rhetoric at a moment of heightened regional tension. The Supreme Leader framed the recent losses as sacrifices in the defense of Iran’s sovereignty, promising that those responsible “will face consequences.” He also reaffirmed Iran’s decision to keep the Strait closed, a move that has already disrupted global shipping routes and rattled energy markets. The strait, one of the world’s most critical chokepoints for oil transport, has long been a flas...
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Canadian Retail Sales Rebound in December, Boosting Consumer Confidence

 

Canadian consumers went on a holiday shopping spree at the end of last year, after reining in their spending just a month earlier. Receipts for retailers jumped 0.8% in December, the biggest increase since April. This followed a 0.2% decrease in November, which missed the median estimate of a flat reading in a Bloomberg survey. In volume terms, retail sales also edged down 0.2% that month. The early estimate for December suggests sales increased 0.8% that month, but warned the figure is subject to revision.

The rebound in retail sales in December is a positive sign for the Canadian economy. The holiday season is a crucial period for retailers, and the increase in sales indicates that consumer confidence is on the rise. The report also highlights that the pullback in November still highlights some spending weakness for consumers, who are facing higher interest rates and many of whom are due to renew their mortgages this year.


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