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Ontario Rolls Out $1B Trade Aid

Ontario announced Wednesday that emergency funding will soon flow to businesses hammered by US trade measures, representing the province’s latest response to tariffs that have disrupted key industries since March.

The province will distribute $1 billion in loans targeting automotive and steel companies, sectors that have borne the brunt of trade restrictions imposed by President Donald Trump. The funding is the initial rollout of the “Protect Ontario Account,” a $5 billion emergency fund established in Ontario’s spring budget.

Companies can access loans to cover immediate operational costs including wages, rent and utilities as the trade conflict drags into its fifth month. The assistance comes as businesses face dual pressures from both US tariffs on their exports and Canada’s retaliatory measures on American imports.

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What’s going on?

• DOE Announces Nearly $1 Billion for Critical Minerals Supply Chain (theDeepDive)

• Federal government plans to reduce size of public service through attrition: minister (CTV)

• Oracle Cuts Cloud Jobs in US, India, and Canada Operations (theDeepDive)

• Flight attendants interrupt Air Canada news conference as contract talks stall (Globe)

• Perplexity Makes $34.5B Bid for Google Chrome (theDeepDive)

• Meta’s flirty AI chatbot invited a retiree to New York. He never made it home. (Reuters)

• Energy Department Selects 11 Companies for Nuclear Reactor Pilot Program (theDeepDive)

• Mortgage Rates Slip to Lowest Level of 2025 (WSJ)

• Trump’s Nominee For Labor Statistics Wants To Suspend Monthly Jobs Report (theDeepDive)

What’s the latest?

• Trade War: China is imposing a 75.65% tariff on Canadian canola seed starting today, following an anti-dumping probe launched last year in retaliation for Canada’s 100% tariff on Chinese EVs. The move has already driven canola prices down, erasing millions in crop value. Ottawa and farmers reject the dumping claims, insisting trade rules were followed. Prairie premiers are urging the federal government to engage directly with Beijing to resolve the dispute.

• Wholesale Prices: The U.S. producer price index (PPI) surged 0.9% in July, far above the 0.2% forecast and the largest monthly jump since June 2022. Core PPI, excluding food and energy, also rose 0.9%, with services inflation up 1.1% and notable gains in machinery wholesaling (+3.8%) and portfolio management fees (+5.4%). Annual headline PPI climbed 3.3%, well above the Fed’s 2% target, pushing Treasury yields higher and reducing—but not eliminating—odds of a September rate cut. The report comes amid tariff pressures, questions over BLS data accuracy, and concerns that businesses may soon pass higher costs to consumers.

• AI: Cohere has raised US$500 million, boosting its valuation to US$6.8 billion. The Toronto-based AI firm says the funds will speed up development of agentic AI products designed to automate tedious tasks. Joelle Pineau, former Meta VP of AI research, joins as chief AI officer, while Francois Chadwick becomes CFO.

• Rogers : Rogers Communications is selling its nine data centres to InfraRed Capital Partners, part of Sun Life’s asset management arm. Rogers will keep selling data centre services and providing network connectivity under the deal. The sale is part of Rogers’ plan to offload non-core assets, with proceeds going toward debt repayment.

• Crypto: Bitcoin hit a record $124,496 late Wednesday, surpassing its July high, while ether climbed to $4,791.19, nearing its 2021 peak. Gains faded Thursday after hotter-than-expected U.S. wholesale inflation data, with bitcoin sliding to $117,954.88 and ether to $4,550.10. Analysts say strong institutional buying, tighter supply, and regulatory tailwinds continue to fuel momentum, signaling broad market conviction rather than a single-asset rally.

Minera Buy Equinox Assets

The stock market and stuff

• Equinox Gold’s Mixed Q2 2025: 93% Net Income Drop On 78% Revenue Jump (theDeepDive)

• Chilean Authorities Investigate Incident at Albemarle Lithium Plant (theDeepDive)

• Tesla cleared in Canada EV rebate investigation (TESLARATI)

• Orla Mining Sees Permitting Advance For South Railroad Project (theDeepDive)

In the juniors

• Avino Q2 2025 Saw Revenue Surge 47%, Hit Record Mill Throughput (theDeepDive)

• Aya Gold & Silver Posts Record Revenue In Q2 2025 Amid Rising Costs (theDeepDive)

• Orezone Gold Q2 2025: Earnings Jump Can’t Mask Cost Surge, Free Cash Flow Burn (theDeepDive)

FULL DISCLOSURE: Cytophage Technologies is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Cytophage Technologies. The author has been compensated to cover Cytophage Technologies on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.