Welcome to The Globe and Mail’s business and investing news quiz. Join us each week to test your knowledge of the stories making the headlines. Our business reporters come up with the questions, and you can show us what you know.
This Week: All eyes were on Washington, where the inauguration of Donald Trump ushered in a new era of anxiety for Canada-U.S. relations. And the new President made it clear he had no intention of easing those concerns. In addition to tariff threats, Mr. Trump also used a virtual appearance at the World Economic Forum summit to repeat his contention that Canada could join his country. “You can always become a state, and if you’re a state, we won’t have a deficit. We won’t have to tariff you,” he said.
1In a sign of how Mr. Trump has bent the financial elite to his will, which of the following power brokers attended his inauguration?
a. Meta Platforms chief executive Mark Zuckerberg
b. Mr. Zuckerberg and Amazon.com chairman Jeff Bezos
c. Mr. Zuckerberg, Mr. Bezos and LVMH chief executive (and Europe’s wealthiest man) Bernard Arnault
d. Mr. Zuckerberg, Mr. Bezos, Mr. Arnault and Apple chief executive Tim Cook
d. Mr. Zuckerberg, Mr. Bezos, Mr. Arnault and Apple chief executive Tim Cook. Yep, the billionaire class was well represented at the inauguration. The near-perfect attendance by tech leaders was particularly impressive and a sign of how the sector has swung into line behind Mr. Trump.
2Remember when George Washington and Abraham Lincoln cashed in on their presidencies by selling commemorative medallions? Oh, wait. They didn’t do anything like that. But Mr. Trump did. He capitalized on his newfound power by issuing a crypto token. What is it called?
a. MAGA$
b. $DEAL
c. $TRUMP
d. DONALD$
c. The new $TRUMP token and first lady Melania Trump’s $MELANIA token appear to be blatant conflicts of interest since they allow anyone who wants to curry favour with the President to put money into his pocket by buying the tokens. Even the companies behind the tokens say they are not investments but an “expression of support.”
3Mr. Trump also raised eyebrows by immediately pardoning Ross Ulbricht, a hero to some in the cryptocurrency community. What did Mr. Ulbricht do to land in jail?
a. He created one of the first cryptocurrencies
b. He ran an online marketplace used by drug dealers
c. He defrauded investors in a crypto exchange
d. He hacked into the FBI’s database of suspected crypto con artists and deleted vital info
b. He ran Silk Road, an online marketplace used by drug dealers. The digital black market was used to buy and sell drugs and conduct other illegal activities, typically with bitcoin. Mr. Ulbricht isn’t what you would call a model citizen – among other things, he solicited the killings of several people he saw as threats to Silk Road – but he is seen by some crypto advocates and libertarians as a victim of overreaching big government.
4Hmmm … this may not help thaw Canada-U.S. relations. U.S. retail giant Amazon.com announced this week it is closing all seven of its Quebec warehouses and laying off 1,700 permanent staff. What prompted the move, according to worker representatives?
a. A hike in the province’s minimum wage
b. A unionization drive
c. A lawsuit alleging unsafe working conditions
d. Irritation at the province’s language laws
b. A unionization drive. While Amazon did not explain the rationale behind the move, it is difficult not to see a link between its decision to close the warehouses and recent unionization efforts. In May, a warehouse in Laval, Que., became the first Amazon site in Canada to unionize. In October, a provincial tribunal ruled against Amazon, which had argued that the process by which the workers unionized was unlawful.
5To be sure, things are tough all over. Ray Dalio, the billionaire founder of hedge fund Bridgewater Associates, warned this week that which country is facing a “debt death spiral”?
a. Britain
b. Canada
c. France
d. The United States
a. Britain. Mr. Dalio told the Financial Times that Britain could be heading toward a situation where it has to borrow more and more money to service its rising interest costs.
6Then again, investors seem to be in an unusually chipper mood. Which of these indexes hit record highs in the two days after Mr. Trump’s inauguration?
a. The S&P 500 Index in the U.S. and Europe’s Stoxx 600 Index
b. The S&P/TSX Composite Index in Canada and Europe’s Stoxx 600 Index
c. Europe’s Stoxx 600 Index and China’s CSI 300 Index
d. China’s CSI 300 Index and The S&P/TSX Composite
a. The S&P 500 Index in the U.S. and Europe’s Stoxx 600 Index. The S&P 500 Index hit an intraday high on Wednesday, driven higher by excitement over artificial intelligence. More surprisingly, the Stoxx 600 Index of European stocks also hit an intraday high as investors brushed off tariff concerns.
7Mark Carney, former head of both the Bank of Canada and the Bank of England, resigned from all his corporate board positions this week as he readied his run for the leadership of the federal Liberal Party. Which of these companies did he say goodbye to?
a. Brookfield Asset Management
b. Royal Bank of Canada
c. ExxonMobil
d. Shopify
a. Brookfield Asset Management. Mr. Carney had been serving as Brookfield’s board chair. He also resigned from the boards of financial-information giant Bloomberg LP and payments processor Stripe Inc.
8Canada Post informed the federal government this week that it expects to run out of cash:
a. In 2027
b. Next year
c. In the next six months
d. This month
c. In the next six months. Canada Post said it expects to exhaust its cash reserves in the first half of this year and is working with the federal government to explore its options. The letter carrier has been hit by high labour costs and dwindling use of its letter-mail services.
9Something called Stargate featured prominently in the news this week. What the heck is it?
a. A plan to put astronauts on Mars
b. A plan to launch cheap, high-capacity communications satellites
c. A plan to freeze human beings and bring them back to life
d. A plan to build artificial-intelligence infrastructure
d. A plan to build artificial-intelligence infrastructure. Mr. Trump proudly announced this week that a group of private-sector companies, including OpenAI, Softbank and Oracle, are going to invest up to US$500-billion in building data centres and other AI infrastructure in the United States. The never-shy Mr. Trump thundered that the joint venture, dubbed Stargate, represented “a resounding declaration of confidence in America’s potential under a new President.” However, Mr. Trump’s “first buddy” Elon Musk was quick to take potshots at the companies in the Stargate group, writing, “They don’t actually have the money.”
10What did Toronto-based Brookfield Asset Management spend more than $1-billion on this week?
a. U.S. single-family homes
b. European wind farms
c. Asian copper mines
d. Australian nuclear power plants
a. U.S. single-family homes. Brookfield acquired Divvy Homes, a U.S. rent-to-own landlord, and its portfolio of single-family homes.
11The Wall Street Journal and others are warning that Mr. Trump’s trade war puts cheap oil from Canada at risk and could result in higher gas prices for U.S. drivers – not exactly what the new President promised his followers. How much of the crude that the U.S. bought from abroad in 2024 came from Canada?
a. 30 per cent
b. 40 per cent
c. 50 per cent
d. 60 per cent
d. 60 per cent. Canada’s oil is well suited for U.S. markets, because Alberta’s oil sands produce the heavier crude that American refineries are designed to use. In contrast, newer oil fields in Texas and New Mexico pump out light, sweet crude.
12It’s Netflix’s world, we just subscribe to it. The streaming giant delighted investors by signing up a record number of subscribers in the final three months of 2024. How many subscribers does Netflix now have worldwide?
a. More than 400 million
b. More than 300 million
c. More than 200 million
d. More than 100 million
b. More than 300 million. Netflix signed up a record 18.9 million subscribers in the final quarter of 2024 and now has more than 300 million subscribers worldwide. Its recent surge has been aided by its bold move into live sports content. It televised a celebrity boxing match between Jake Paul and Mike Tyson and streamed National Football League games on Christmas day.
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