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Ford Wants Niagara to Go Full Vegas

Ontario Premier Doug Ford unveiled a multibillion-dollar strategy Monday to transform Niagara Falls into an international tourism hub, calling for multiple new casinos and a major theme park in what his government dubs “Vegas of the North.”

The Destination Niagara Strategy targets doubling annual visitors from 13 million to 25 million and generating an additional $3 billion for Ontario’s GDP each year.

“We want to double the number of visitors who come to Niagara every year, and we want to double the amount of time they spend in Niagara,” Ford said at the launch event with Niagara Falls Mayor Jim Diodati.

You can read more on the matter here.

What’s going on?

• Smith Floats Northwest Pipeline, But It’s Probably Not What You Think (theDeepDive)

• Panama Ports Deal Hits Impasse as China Makes New Demands for Its Approval (WSJ)

• Samsung Denies Plans to Halt SATA SSD Production (theDeepDive)

• Toronto man outruns newly-opened Finch LRT by 18 minutes (CBC)

• Did NDP Propose Speaker Deal? Davies Says No (theDeepDive)

• Canadian military intelligence officer allegedly shared classified information with Ukraine (Globe)

• US Eases Belarus Sanctions Days After Threatening Potash Tariffs on Canada (theDeepDive)

• US unemployment rate hits four-year high of 4.6% (FT)

• Poll Shows Most Canadians Don’t Want the Federal Electric Vehicle Sales Mandate (theDeepDive)

What’s the latest?

• Tech: Lovable raised a new funding round valuing the startup at $6.6B, up from $1.8B in July, marking its third round in 2025. The company reported $200M in ARR as of November, growing from $1M ARR in under a year, with Accel and Khosla Ventures participating. Based in Stockholm, Lovable supports ~100,000 projects per day and is expanding to Boston and San Francisco.

• Oil & Gas: Canadian Natural Resources plans a $6.43B capital budget for 2026, up from $6.15B in 2025. Spending includes $175Mfor early oilsands expansion work and $125M for carbon capture. Production is expected to rise ~3% to 1.59–1.65 million boe/day, with ~75% liquids.

• Market: Canada’s TSX fell 138 points to 31,345, while U.S. markets also declined, with the Dow -203, S&P 500 -35, and Nasdaq -75. The Canadian dollar strengthened slightly to 72.71 US cents. Oil dropped US$1.58 to US$55.09, while gold rose US$13.70 to US$4,348.90.

• Politics: Canada’s Buy Canadian procurement policy takes effect today, applying to federal contracts $25M and above. The rule prioritizes Canadian firms and domestically made steel, aluminum, and wood in major infrastructure, housing, and defence projects. Ottawa says the policy aims to strengthen supply chains and protect industries affected by U.S. tariffs.

• Economy: U.S. payrolls rose 64,000 in November, beating forecasts, but October saw a net loss of 105,000 jobs after 162,000 federal workers exited, pushing unemployment to 4.6%, the highest since 2021.
  Job growth has slowed sharply to an average 35,000 per month since March, down from 71,000 previously, while wages rose just 0.1% m/m and 3.5% y/y. Health care added 46,000 jobs, construction 28,000, while manufacturing lost 5,000, marking its 7th straight monthly decline.

Soma Gold Q3 2025 Earnings

The stock market and stuff

• Anglo Teck Merger Secures Government Approval, Commits To $4.5B Canadian Spending (theDeepDive)

• Seabridge Gold To Spin Out Courageous Lake Project To Shareholders (theDeepDive)

• Oil falls below $60 a barrel on hopes of Russia-Ukraine peace deal (FT)

• SHFE Tightens Silver Leverage With Record Margin Jump (theDeepDive)

• Artemis Gold To Proceed With Expansion To 21 Mtpa Processing Capacity At Blackwater (theDeepDive)

In the juniors

• Lidar Company Luminar Files for Bankruptcy After Losing Major Contract (theDeepDive)

• Japan Gold Concludes Geophysical Survey At Hakuryu Project For Drill Targeting (theDeepDive)

• Steadright To Begin Selling Stockpile Material From Historic Goundafa Mine (theDeepDive)

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