1. Which high street retail brand or brands are set to close permanently after their administrators failed to secure a rescue deal?
a. Oasis and Warehouse
b. Topshop and Topman
c. Debenhams
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
d. Laura Ashley and Cath Kidston
2. Which highly contagious disease spiked this week in China?
a. Covid-19
b. Influenza
c. African swine fever
d. Severe acute respiratory syndrome (SARS)
3. Which eurozone country officially fell into recession this week, with its biggest contraction since the Second World War?
a. France
b. Italy
c. Spain
d. Finland
How much did US economic output shrink by in the first quarter of the year, the biggest slide since the financial crisis in 2008?
a. 5.2%
b. 4.2%
c. 3.8%
d. 4.8%
4. What aid scheme did chancellor Rishi Sunak announce this week?
a. Tax relief for medium sized enterprises
b. A grant for SMEs
c. A microloan scheme for small companies
d. An additional £100bn furlough scheme
5. Which country lowered its coronavirus alert from level 4 to level 3, reopening its economy?
a. Australia
b. New Zealand
c. Japan
d. Canada
6. Amazon emerged as one of the biggest winners of the coronavirus pandemic on Thursday. How much revenue did it make in the first three months of the year?
a. $75.4bn
b. $90.5bn
c. $67.3bn
d. $79.2bn
7. Which high-end designer clothing brand withdrew its application to furlough staff after facing heavy criticism?
a. Victoria Beckham
b. Issey Miyake
c. Yves Saint Laurent
d. Stella McCartney
8. Which world leader is rumoured to be dead?
a. Nicolas Maduro
b. Jair Bolsonaro
c. Kim Jong-un
d. Andres Manuel Lopez Obrador
9. As of 1 May, what is the number of confirmed cases of coronavirus worldwide?
a. 2.8 million
b. 3.2 million
c. 3.5 million
d. 4.1 million
Answers
1) a: Oasis and Warehouse.
2) c: African swine fever. China’s Ministry of Agricultural and Rural Affairs has reported a spate of new cases across the country. The deadly disease resulted in the loss of around 120 million hogs around the country last year.
3) a: France. While the entire eurozone is almost certainly in recession, it became official for the region’s second-largest economy this week as it recorded its second quarter of shrinking output. French GDP shrank by 5.8% in the first quarter of the year, its worst performance since 1949.
4) d: 4.8%. US GDP contracted in the first quarter of the year as coronavirus lockdown measures took their toll. It was the first such quarterly decline in GDP for six years, and the biggest since the financial crisis in 2008.
5) c: A microloan scheme for small companies. Chancellor Rishi Sunak told the House of Commons small firms are to get access to 100% taxpayer-backed loans after they raised concerns about slow access to existing coronavirus rescue schemes. It aims to unlock a backlog of credit checks by banks amid fears many small firms could fold before getting loans.
6) b: New Zealand. Prime Minister Jacinda Arden shifted the alert level to three this week, allowing workers to return to factories and construction sites, and takeaway food outlets to reopen. The economy is estimated to run at about 25% below normal levels during level 3 compared with 40% less under level 4, according to Treasury calculations.
7) a: $75.4bn.
8) a: Victoria Beckham. The designer reversed a decision to furlough 30 staff at her fashion label, adding that her team’s welfare meant everything to her after the decision to apply for public money drew heavy criticism. Beckham’s net worth is estimated at £335m. The claim would have cost around £150,000 in government funds. All employees concerned have been returned to their roles.
9) c: Kim Jong-un. The North Korean dictator has not made a public appearance since April 11 and missed ceremonies marking the birthday of his late grandfather, North Korea’s founder, Kim Il-sung.
10) b: 3.2 million. There are a confirmed 233,438 deaths and 839,812 recoveries.
-
UK wages grow at a record paceThe latest UK wages data will add pressure on the BoE to push interest rates even higher.
-
Trapped in a time of zombie governmentIt’s not just companies that are eking out an existence, says Max King. The state is in the twilight zone too.
-
America is in deep denial over debtThe downgrade in America’s credit rating was much criticised by the US government, says Alex Rankine. But was it a long time coming?
-
UK economy avoids stagnation with surprise growthGross domestic product increased by 0.2% in the second quarter and by 0.5% in June
-
Bank of England raises interest rates to 5.25%The Bank has hiked rates from 5% to 5.25%, marking the 14th increase in a row. We explain what it means for savers and homeowners - and whether more rate rises are on the horizon
-
UK wage growth hits a record highStubborn inflation fuels wage growth, hitting a 20-year record high. But unemployment jumps
-
UK inflation remains at 8.7% ‒ what it means for your moneyInflation was unmoved at 8.7% in the 12 months to May. What does this ‘sticky’ rate of inflation mean for your money?
-
VICE bankruptcy: how did it happen?Was the VICE bankruptcy inevitable? We look into how the once multibillion-dollar came crashing down.
