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 in business and investing: The six largest banks in Canada released their third-quarter financial results, with many falling short of analyst predictions. That’s despite many analysts cutting their expectations, citing high inflation and even higher interest rates. Most predicted earnings would drop between 4 per cent and 7 per cent year-over-year
Meanwhile, the Toronto International Film Festival confirmed it is parting ways with a major sponsor just weeks before screenings begin.
Do you remember these stories? Take our quiz below to test your recall for the week ending Sept. 1.
1 Canada’s big six banks released earnings for the third quarter. Which bank outperformed analyst expectations?
a. Bank of Nova Scotia
b. Royal Bank of Canada (RBC)
c. Bank of Montreal (BMO)
d. Canadian Imperial Bank of Commerce (CIBC)
b. RBC earned $3.9-billion, or $2.73 per share, beating analysts’ predictions of $2.70 per share. Read more on how all the big six banks performed.
2 Which grocery store chain recently reached a deal with its workers’ union after a month of strikes in the GTA?
d. Food Basics
c. Metro. The company reached a tentative deal with the union representing roughly 3,700 of its grocery workers in Ontario. The workers were on strike for a month, shuttering 27 Metro stores in and around the Greater Toronto Area.
3 Scotiabank’s new CEO launched a significant leadership shakeup this week, poaching a new senior executive from a rival bank. From which bank did it poach its new deputy of HR?
c. Toronto-Dominion Bank (TD)
b. RBC. Jenny Poulos, formerly an executive at RBC, who will join Scotiabank as deputy chief human resources officer.
4 According to Canada’s spy agency, cybercriminals from which two countries are posing a threat to Canada’s economic prosperity?
a. Russia and Iran
b. China and Iran
c. Russia and China
d. Russia and Iraq
a. Russia and Iran. Federal authorities warned this week that hackers from Russia and Iran are increasingly attacking Canada’s high-value businesses and critical infrastructure.
5 Which major sponsor recently ended a decades-long partnership with the Toronto International Film Festival?
d. Bell. The namesake of the TIFF Bell Lightbox and the film festival ended their 28-year-long partnership late last week. Earlier this summer, Bell raised concerns about the economic viability of its media division and cut 1,300 jobs in June.
6 The latest numbers on TFSA contributions show that, in 2020, which group contributed more to their TFSAs?
a. Women contributed $1-billion more to their TFSAs than men
b. Women contributed $2-billion more to their TFSAs than men
c. Men contributed $1-billion more to their TFSAs than women
d. Trick question. The CRA has stopped tracking differences in savings account contributions between genders
7 Point House, on B.C.’s Pender Island, provides five bedrooms and six bathrooms in 6,603-square-feet of living space. The property itself is 104-acres and includes one kilometre of oceanfront, with rocky cliffs rising from a tidal beach. How much is this house?
8 What is the lowest available insured variable mortgage rate this week?
b. 5.95. The lowest nationally available insured variable-rate mortgage is 5.95 per cent, according to columnist Robert McLister. Meanwhile, HSBC offered 6.40 per cent for uninsured variable-rate mortgages.
How well did you do?
Answer all of the questions to see your result