In a series of significant developments, Donald Trump has issued a stark ultimatum to Iran, demanding the acceptance of a new peace deal or facing a wave of bombing at a 'higher level and intensity.' This comes as the Coalition in Australia plans to halve the country's annual net immigration levels to between 150,000 and 200,000. Meanwhile, tributes are pouring in for Ted Turner, the influential media mogul who founded CNN, who has died at the age of 87. In other news, scientists reported that a mega tsunami triggered by a rockslide in Alaska narrowly missed cruise ships, and protests against Russia's participation in the Venice Biennale highlight ongoing international tensions. The economic implications of these events are being closely monitored, particularly in the context of Trump's fluctuating diplomatic strategies and Australia's immigration policies.