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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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GST Holiday Fails to Deliver Economic Lift, Data Shows Minimal Impact

                                               

New figures reveal that Canada's GST/HST holiday yielded little boost in consumer spending, falling short of expectations. Payment processor Moneris reported a 4% decline in overall spending during the tax break period compared to the previous year, with both the number and size of transactions dropping slightly. Similarly, a survey conducted by the Canadian Federation of Independent Business (CFIB) found that only about 5% of small businesses experienced a noticeable sales increase, while the majority reported no significant change in business activity.

Despite the intended relief, many retailers found the initiative more burdensome than beneficial, citing last-minute adjustments to point-of-sale systems and increased administrative challenges. Although certain sectors, like children's apparel, saw minor gains, these were not enough to offset the overall downturn in consumer spending. The data suggests that the tax holiday may have merely shifted the timing of purchases rather than stimulating additional economic activity.


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