Good morning. Panama's president rejects Donald Trump's threat over control of its famous canal. Euro-area growth forecasts are being dialed back. And Apple may take on Amazon with a new home device. Listen to the day's top stories.

Panama President José Raúl Mulino rebuffed Donald Trump's threat to reimpose US control over the Panama Canal, saying its shipping tolls aren't inflated and that its sovereignty isn't negotiable. Trump responded: "We'll see about that!" Read more about how the president-elect is upending global politics even before he takes office.