Welcome to The Globe and Mail’s business and investing news quiz. Join us each week to test your knowledge of the stories making headlines. Our business reporters come up with the questions, and you can show us what you know.
This week: Elon Musk has left the Trump administration to focus more on Tesla, and the U.S. President’s “Liberation Day” tariffs, including some levied against Canada and Mexico on fentanyl-related grounds, were handed a big blow this week. But which body put a damper on one of the Mr. Trump’s favourite tactics? Take our quiz and find out.
1What a shocker! In a landmark ruling, which powerful body ruled this week that U.S. President Donald Trump does not enjoy “unbounded authority” to impose tariffs as he sees fit?
a. The U.S. Supreme Court
b. The U.S. Senate
c. The U.S. Court of International Trade
d. The International Court of Justice
c. The U.S. Court of International Trade. The ruling, which will no doubt be appealed, essentially says that much of what Mr. Trump has done in recent weeks is not legal. The trade court ruled that the U.S. Constitution places the power to tax and tariff in the hands of Congress and concludes that Mr. Trump’s imposition of sweeping tariffs in recent weeks oversteps his limited authority in that area. If upheld, the ruling would overturn most of the President’s “Liberation Day” tariffs.
2Which company announced this week that it is planning to build a major terminal at a Pacific Northwest port and said it is looking at sites in both Canada and the United States?
a. Canadian Natural Resources
b. Teck Resources
c. Bunge
d. Nutrien
d. Nutrien wants to locate its terminal in a deep-water port with railway links so it can easily ship large volumes of potash to China, Japan and India. The Saskatchewan-based fertilizer giant says regulations and taxes will be major factors in deciding which port to choose and in which country. Ahem. Over to you, Prime Minister Carney.
3A report this week from credit analyst Equifax shows a growing number of Canadians are struggling to keep up with debt payments. According to the report, what is “a hotspot for financial stress in Canada”?
a. Nova Scotia
b. Quebec
c. Ontario
d. British Columbia
c. Ontario. The threat of U.S. tariffs has hammered Ontario’s factories. To make matters worse, the province is grappling with a painful real estate reset as homeowners who bought during the pandemic boom face the prospect of renewing their mortgages at much higher rates.
4Mr. Trump has had a busy week. The President’s social media company said this week it is planning to raise US$2.5-billion to invest in what?
a. Bitcoin
b. Florida real estate
c. Casinos
d. Golf courses
a. Bitcoin. “We view bitcoin as the apex instrument of financial freedom,” says Devin Nunes, chief executive of Trump Media and Technology Group. Um, sure. But can you tell us why a company owned by the U.S. President wants to own an asset so popular among criminals? Just wondering.
5Canadian Tire has struck a deal to acquire much of the intellectual property of Hudson’s Bay Co., including brand names, logos and slogans. Which of these goodies is NOT part of the deal?
a. Rights to the Hudson’s Bay name and logo
b. Rights to the slogan: “The official home of Christmas”
c. Historic designs for Hudson’s Bay blankets
d. Rights to the Zellers name
d. Rights to the Zellers name. The deal does not include the Zellers discount brand that Hudson’s Bay relaunched in 2023.
6Mike McGahan, the executive chair of InterRent Real Estate Investment Trust, is offering to acquire the apartment owner for $2-billion. Who is backing his bid?
a. Asset manager Blackstone
b. A sovereign wealth fund from Singapore
c. Canada Pension Plan
d. Bill Gates’s family office
7Why did shares in the Canadian copper-producer Ivanhoe Mines dive this week?
a. Labor unrest at a mine in the Democratic Republic of Congo
b. A political dispute with the DRC government
c. Seismic activity at the DRC mine
d. A falling-out with its Chinese partner in the DRC mine
c. Seismic activity around the Kakula copper mine prompted Ivanhoe to suspend operations at the site in the Democratic Republic of the Congo. Ivanhoe shares fell more than 16 per cent on the news.
8Poor Elon Musk. His SpaceX venture launched another rocket this week and again it blew up. What euphemism does his company use to describe such explosions?
a. “A sudden loss of structural integrity”
b. “A rapid unscheduled disassembly”
c. “An unexpected release of kinetic energy”
d. “A high-speed systemic transformation”
b. “A rapid unscheduled disassembly.” Brilliant, isn’t it? Feel free to use this one at home. “No, darling, I didn’t break your mother’s fine china. It just experienced a rapid unscheduled disassembly.”
9Markets applauded this week as Canadian insurer Definity Financial struck a $3.3-billion deal to do what?
a. Acquire the Canadian operations of a U.S. insurer
b. Acquire an artificial intelligence platform to automate customer service
c. Acquire a South Korean insurer
d. Acquire a credit rating agency
a. Acquire the Canadian operations of U.S. insurance giant Travellers. The deal will vault Definity into fourth place among property and casualty insurers in Canada.
10Ah, the power of celebrity! E.l.f. Beauty announced this week that it is buying the makeup and skincare brand Rhode for about $1-billion from which well-known influencer?
a. Kylie Jenner
b. Selena Gomez
c. Jeffree Star
d. Hailey Bieber
a. Hailey Bieber. Rhode launched in 2022 with products such as $18 “peptide lip treatments” that it promoted on TikTok. It sells through its own website or pop-up stores, relying heavily on Ms. Bieber’s social media influence.
11Bell Canada said this week it is planning to open six data centres equipped to handle artificial intelligence (AI) applications. Where will the centres be located?
a. British Columbia
b. Alberta
c. Ontario
d. Quebec
a. British Columbia. AI developers are expected to need massive amounts of computing power and Bell’s announcement demonstrates how quickly suppliers are rushing to meet those needs.
12Royal Bank raised eyebrows this week when it indicated it would require employees to do what?
a. Report any travel out of the country
b. Return to the office at least four days a week
c. Pass physical fitness tests
d. Report all securities transactions, including crypto
a. Return to the office at least four days a week. Sources say RBC’s four-day minimum will take effect this fall. The bank previously required people to be in the office at least three days a week.
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