Business
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22h ago
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Trump Threatens Iran, Economy Faces Headwinds

US President Donald Trump threatened Iran with potential military action if the country did not meet his demands on nuclear enrichment and ballistic missiles, while also facing criticism for his stance on a key border bridge with Canada. Simultaneously, the US economy showed signs of slowing down, and Egypt's parliament approved a cabinet reshuffle focused on economic recovery.

Trump's threats against Iran, reported by Al Jazeera, came in comments to the Israeli outlet Channel 12, published on Tuesday. He hinted at aggressive actions if a deal could not be reached. Meanwhile, Mark Carney, former governor of the Bank of England, reminded Trump that Canada had paid for the Gordie Howe International Bridge between Detroit and Windsor, Ontario, after the US president threatened to block its opening, according to The Guardian. Trump had previously criticized the bridge.

The US economy showed signs of potential trouble as consumer spending slowed in December, according to BBC Business. Retail sales were flat during the holiday season, a departure from previous months of robust spending. This raised concerns about a broader economic slowdown, with a faltering labor market, persistent inflation, and cooling wage growth contributing to the lacklustre end to the year, according to the Commerce Department report.

In Egypt, the House of Representatives approved a cabinet reshuffle focused on economic recovery, also reported by Al Jazeera. The reshuffle, announced on Tuesday, brought 13 new ministers to the government, including those overseeing key economic portfolios. A deputy prime minister in charge of economic affairs was also created.

Adding to the global news, Spain and Portugal were hit by a third deadly storm in two weeks, as reported by The Guardian. Storm Marta swept the Iberian peninsula, following the damage caused by Storms Kristin and Leonardo.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

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