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: A Bay Street economist says investors have lost hundreds of thousands of dollars in scams using his name, but police aren’t rushing to investigate. Meanwhile the U.S. President is unhappy about the Federal Reserve’s decision to keep the interest rate steady and mused about someone else leading the central bank. But who does he want to chair it? Take our quiz and find out.
b. Allowing foreign airlines to fly domestic routes. The Competition Bureau of Canada would like the federal government to allow foreign airlines to service routes within Canada's borders.
d. Nobody has complained. Investment scams in Canada cost victims $311-million in reported losses during 2024, according to the Canadian Anti-Fraud Centre. However, the agency estimates that 90 to 95 per cent of fraud goes unreported.
c. First Nations. The premier said he is willing to give First Nations something for their support in developing mines but added they cannot keep coming to him “hat in hand.” Sol Mamakwa, the lone First Nations member of the Ontario legislature, called the remark “deeply offensive and racist.” First Nations are angry about the province’s Bill 5, which gives cabinet the right to suspend provincial laws if regulations stand in the way of chosen economic developments – such as Mr. Ford’s much touted Ring of Fire project in northern Ontario.
a. WhatsApp will start showing ads on part of its platform as its owner, Meta Platforms, looks to cultivate a new revenue stream.
b. Mobile phones. The Trump Organization says it plans to start offering a mobile phone service and gold-colored phones. It has previously peddled bibles, watches, sneakers and other gear.
d. Mr. Trump himself. “Am I allowed to appoint myself at the Fed? I’d do a much better job than these people,” Mr. Trump said to reporters.
b. Bank of Montreal is buying Burgundy, which was founded in 1990 and has 150 employees. It manages about $27-billion for wealthy clients and foundations.
c. Rare earths. Torngat is trying to put a rare earths mine and refinery into operation. It would be Canada’s first. China dominates the market for these vital metals and they have become a point of tension in international trade talks.
a. Veto power over many of the new company’s decisions. Nippon Steel agreed to give Washington a “golden share” in U.S. Steel that grants the government veto rights over a myriad of corporate decisions.
c. 3 million. The number of temporary residents in Canada declined slightly in the first quarter. However, there are still nearly 3 million. They make up about 7.1 per cent of Canada’s population.
c. 2019. Call this a reality check: Canada Mortgage and Housing Corp. said in a report that it is no longer possible to restore 2004 levels of affordability. How about 2019 levels? That’s possible, but Canada needs to double its current pace of homebuilding to reach even that more modest goal.
d. Nearly 60 per cent of working Canadians doubt they will ever be able to retire, according to the survey from the Healthcare of Ontario Pension Plan.