Welcome to The Globe and Mail’s business and investing news quiz. Each week, join us 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 in business and investing: Interest rates were in the news again, with the U.S. Federal Reserve raising its key rate by a quarter point Wednesday. The decision moved the federal fund’s rate to a range of 5.25 per cent to 5.5 per cent – a 22-year high. The Fed’s chair, Jerome Powell, indicated future hikes were still on the table. North of the border, Canada’s central bankers, also confronting persistent inflation and an economy that remained more resilient than expected, debated whether to hike rates in July, a summary of the discussions showed.
Elsewhere, Elon Musk rebranded Twitter, a handful of automakers said they’re working together on a new multibillion-dollar project, unsold electric vehicles are piling up, and McDonald’s saw a boost in their quarterly results thanks to some limited-edition offerings.
Do you remember these stories? Take our quiz below to test your recall for the week ending July 28.
c. “The risk of doing too much or doing too little” Mr. Powell indicated that future decisions about rate hikes would come down to new data and an assessment of risks. “We’re coming to a place where there really are risks on both sides. It’s hard to say exactly whether they’re in balance or not,” Mr. Powell said.
a. “The discussion turned to whether it was appropriate to raise the rate in July or wait for more evidence to solidify the case for further tightening,” the summary says. “The consensus among members was that the cost of delaying action was larger than the benefit of waiting,”the summary of deliberations says.
b. As Xs Mr. Musk renamed Twitter as X this week and replaced its familiar bird logo with the letter. In a message posted on the site, he told users that tweets will be known as “x’s.”
a. Purple milkshakes The Grimace Birthday Meal featured purple milkshakes in honour of the aubergine character.
c. An electric-vehicle charging network General Motors, BMW, Honda, Hyundai, Kia, Mercedes and Stellantis said that they will share in a multibillion-dollar investment to build “high power” charging stations with 30,000 plugs in urban areas and along travel corridors.
a. Hopper The travel tech company’s president told The Globe that Hopper is set to announce “about a dozen other partnerships” in the next few months, including one in Canada and others in Europe, Asia and Australia.
b. Rogers The Canadian Radio-television and Telecommunications Commission sided with Quebecor in a rate-setting decision over the prices it will pay to access the Rogers network, determining that the regional telecom’s offer will foster affordability and lower prices for retail mobile wireless services.
c. 5.95 The lowest nationally available insured variable-rate mortgage is 5.95, according to columnist Robert McLister. Meanwhile, HSBC offered 6.40 rate for uninsured variable-rate mortgages.
a. 11 per cent Based on CPP data from 2009 to 2021, only 11 per cent of women who live until age 90 are survived by a spouse.
d. 92,000 The supply of unsold EVs on U.S. dealer lots has swelled 350 per cent so far this year, to more than 92,000 units in June
11 What is the asking price for this house? This light-filled new build in northwest Toronto offers 6,000 square feet of living space. The home’s balance of textures, natural stone, wood and glass gives it a warmer feel.
b. $2,695,000 The infill home is on the market for $2,695,000.