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New Tensions Rise as Iran Warns of Possible Strikes on Regional Energy Sites

  Iran has issued a sharp warning that it may target regional energy infrastructure following recent threats from U.S. President Donald Trump over the Strait of Hormuz. The exchange marks a renewed escalation in a long‑running standoff over one of the world’s most critical maritime chokepoints. According to Iranian officials, any attempt to restrict Tehran’s access to the strait would be met with what they described as “direct and proportional” action. Energy facilities across the Gulf—central to global oil and gas supply—were specifically mentioned as potential targets if tensions continue to rise. The Trump administration has repeatedly criticized Iran’s activities in the region, warning of consequences should Tehran interfere with international shipping. The latest remarks from Washington prompted Iran’s response, which framed its position as defensive and tied to national sovereignty. Regional governments have expressed concern that even rhetorical escalation could unsettle...
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Holiday spending outlook bleak for retailers amid consumer fatigue

 

The upcoming holiday season may not be very merry for Canadian retailers, as many consumers are planning to cut back on their spending amid rising inflation, supply chain disruptions and pandemic fatigue. 

According to a recent survey by Deloitte, only 38% of Canadians expect to spend more or the same amount as last year on holiday gifts, down from 54% in 2020. The average planned spending per household is also expected to drop by 13% to $1,405, the lowest level since 2015. The survey found that consumers are feeling the pinch of higher prices, lower savings and reduced disposable income, as well as concerns about the health and economic impacts of the COVID-19 variants. As a result, many shoppers are looking for ways to save money, such as buying fewer and cheaper gifts, using loyalty points or coupons, or opting for homemade or experiential gifts instead of physical ones. 

Retailers are also facing challenges from the global supply chain crisis, which has caused delays, shortages and higher costs for many products. Some retailers have warned that they may not be able to meet the demand for popular items, especially electronics, toys and clothing. Others have started their holiday promotions earlier than usual to encourage consumers to shop early and avoid disappointment. 

Deloitte's report suggests that retailers need to adapt to the changing consumer preferences and behaviours, and offer more value, convenience and flexibility to attract and retain customers. This may include providing more online and omnichannel options, offering free or fast shipping and returns, enhancing customer service and loyalty programs, and creating a safe and festive in-store environment.

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