John TernusSupplied
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: There’s been a couple major job changes in Canada and the U.S. Meanwhile, Agnico Eagle has made some major acquisitions. Where did they take place? Take our quiz and find out.
b. In a 10-minute video message released on YouTube, Mr. Carney declared that the U.S. “has changed and we must respond.” The Prime Minister dismissed those who claim the best strategy is to wait and hope that a post-Trump United States will return to its old ways. He argued that Canada has to forge a new path that will make it more independent of Washington.
a. In the latest salvo from the Trump administration, Mr. Lutnick called the North American trade agreement a “bad deal” for Americans and suggested that it may be allowed to “lapse” this summer. He slammed Mr. Carney for trying to lessen Canada’s dependence on the U.S. by striking trade deals with China.
a. ShinyHunters are a criminal group that hacks into corporate data systems with the goal of extorting money. Canada Life has blamed the group for a recent data breach that exposed the personal information of up to 70,000 customers. Telus Corp. has also acknowledged that the hackers broke into systems belonging to an affiliate.
c. Ontario high-school students will soon need to pass a financial literacy test in order to graduate. Education Minister Paul Calandra says students need practical, real-world skills, including how to manage money and budgets. This is no doubt true – but sounds a bit odd coming from a provincial government that is not known for frugality. Will the course include sections on buying private jets or building expensive spas on Lake Ontario?
b. Agnico Eagle is betting big on northern Finland It is buying Rupert Resources for up to $2.9-billion in stock and cash, Aurion Resources for $481-million in cash, and B2Gold’s 70-per-cent stake in Fingold Ventures for US$325-million. All three of the new acquisitions operate in Finland’s Lapland region, where Agnico has operated the Kittilä mine since 2009.
c. Mr. Ternus, a long-time Apple executive, is taking over as the company’s chief executive on Sept. 1. He has a tough act to follow. Tim Cook, who is stepping down as CEO, led the iPhone maker to spectacular growth during his 15 years at the helm. The responsibility for maintaining that upward trajectory will now fall to Mr. Ternus, a hardware expert who played a central role in shaping Apple products such as iPads and AirPods.
b. Ms. Ryan, a veteran of several senior public service positions, was named Canada’s new Parliamentary Budget Officer, a post that will be crucial in coming years as the Carney government struggles to balance its big ambitions with fiscal realities. The PBO’s core job is to act as the nation’s fiscal watchdog, providing independent, non-partisan analysis of government spending.
a. Ouch. CREA is now forecasting that home sales will inch up only a meagre 1 per cent this year. Shaun Cathcart, CREA’s senior economist, called the new forecast a best-case scenario. He warned that if conditions don’t start to improve, CREA will have to downgrade its sales forecast yet again.
d. Xanadu is working on building quantum computers that use light as a medium of calculation. If this means nothing to you, that’s okay. Quantum computing, which could be the key to a new generation of super powerful devices, is still confined to the laboratory. However, Xanadu and other quantum-focused companies are booming as a result of recent breakthroughs that suggest the technology could become a commercial reality in the next few years.
c. The trustees of Ms. Rogers’s $250-million estate are seeking $11-million in compensation for their services. That bill strikes her kids as excessive. Her son, Edward Rogers, alleges that the compensation represents a rate of nearly $4,000 an hour.
d. Members of Parliament became visibly frustrated with Mr. Green over unresolved questions about why the PrescribeIT program failed and how its budget was spent. Canada Health Infoway, a government-funded non-profit, launched PrescribeIT in 2017 as part of “axe the fax” initiatives to replace older technology with digital tools that could transmit prescriptions from doctors’ offices to pharmacies.
d. If you’ve been on the CRA homepage lately, you’ve likely seen Charlie the Chatbot. He’s that little round robot face floating on the bottom-right corner of your screen. Clicking on Charlie initiates a chat in which you can ask tax questions. Oh, such fun! Well, at least for us tax nerds.