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.
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.
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.
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.
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.
d. Rights to the Zellers name. The deal does not include the Zellers discount brand that Hudson’s Bay relaunched in 2023.
b. A sovereign wealth fund from Singapore. Singapore’s GIC is backing Mr. McGahan’s bid to take the REIT private. His offer comes after the REIT faced an activist campaign from Toronto-based asset manager Anson Funds.
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.
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.”
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.
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.
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.
b. 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.