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: Ford Motor Co. announced it would postpone the launch of electric vehicles at its plant in Oakville, Ont., by two years until 2027. The plant west of Toronto is still slated to shut down for the $1.8-billion EV retooling in May, which will mean layoffs for its 2,700 workers. Meanwhile, Dollarama Inc. reported a 24-per-cent increase in profit in the fourth quarter, as Canadians turned to discount retailers to mitigate challenges caused by inflation. And the federal government announced a $1.5-billion fund to protect rental units by acquiring existing rental properties.
Also: Both Taylor Swift and the CEO of Loblaws were rewarded for their performance, albeit of different kinds.
d. About 2,800. Ms. Swift, with an estimated fortune of US$1.1-billion, is one of a record 2,781 billionaires on the Forbes 2024 list.
a. May 1. The expansion has cost more than $34-billion. It will more than double the pipeline’s existing capacity.
b. Lost half its market value. Taiga shares fell 53 per cent on Wednesday after the Canadian maker of electric snowmobiles and personal watercraft suspended production and reported disappointing financial results.
c. Microsoft. The report from the Cyber Safety Review Board describes shoddy security practices and a lax corporate culture at Microsoft. It also says the company showed a lack of sincerity when describing its knowledge of the security breach.
b. $22-million. Mr. Bank collected $22.1-million last year, although $18-million of that was a one-time award designed to replace compensation he forfeited by resigning from his previous employer in Denmark.
c. Cocoa is the runaway winner. As of Thursday morning, cocoa futures had gained 124 per cent since the start of the year in U.S. dollar terms. Nvidia (up 80 per cent), bitcoin (up 55 per cent) and gold (up 12 per cent) languished far behind.
a. Disney shareholders supported Robert Iger, the company’s chief executive, and rebuffed activist investor Nelson Peltz. The two sides spent more than US$65-million fighting the proxy battle, according to the Financial Times.
d. Tickets to the women’s Final Four cost more. The world has fallen in love with Caitlin Clark, the University of Iowa guard who heaves up shots like ballistic missiles. Her charisma has helped drive the average resale price for a ticket to the women’s semi-final to twice the level of a ticket to the men’s semi-finals.
b. Allow fourplexes by default. Ottawa wants provinces to eliminate single-family zoning and allow the widespread construction of fourplexes to help ease the housing shortage. To no one’s surprise, Ontario and Quebec immediately rejected the federal plan as an intrusion into their jurisdictions. And you wondered why we have a housing crisis?
a. Motorcycle racing. CPPIB is selling its stake in Dorna Sports, the Spanish company that owns the rights to the MotoGP racing series, for $1.9-billion. The pension fund said the investment in motorcycle racing “delivered excellent returns” but did not provide details.
d. It is running out of cash. Ironic, isn’t it? CURO Group Holdings Corp. filed for bankruptcy protection in the United States, after a lender turned down the payday lender’s request to refinance some of its debt.
c. Kiss sold its rights to Pophouse, a Swedish entertainment company co-founded by a member of ABBA. Pophouse plans to create a live music show featuring digital versions of the band.
Ian McGugan