Features

MoneyWeek's quiz of the week, 16-22 May

Test your recollection of the events of the last seven days with MoneyWeek's quiz of the week

1. What was the size of the Franco-German recovery fund, announced this week to ease the economic strain of the coronavirus lockdowns?

A. €300bn B. €385bn C. €420bn D. €500bn

2. How many worldwide jobs does Rolls-Royce plan to cut in order to cope with a joint demand slump in aerospace and aviation markets?

A. 5,500 B. 6,200 C. 9,000 D. 12,000

3. At its lowest since 2016, to what level did UK inflation fall this week?

A. 1% B. 0.8% C. 0.5% D. 0.45%

4. Which country’s Central Bank has recently filed a $1,000,000,000 lawsuit against the Bank of England?

A. Laos B. Nicaragua C. Zimbabwe D. Venezuela

5. The UK charted new waters in borrowing this week: what was the yield on three-year government bonds in this week’s £3.8bn sale?

A. 0.23% B. 0.12% C. 0.051 % D. -0.003%

6. Which research-based pharmaceutical company recently received $1 billion funding from the US government, for its developments in trialling a Covid-19 vaccine.

A. AstraZeneca B. GlaxoSmithKline C. Roche D. Novartis

7. Since 2015, the UK’s Dormant Assets Scheme has seen over £600m transferred from dormant accounts in UK banks to charitable causes. How much more has been pledged to be retrieved by the Government this week, to help combat coronavirus?

A. £80m B. £100m C. £150m D. £180m

8. Big bank frontline job losses hit a six-year high during the first quarter of 2020. How many jobs were lost?

A. 800 B. 1,600 C. 2,000 D. 2,800

9. UK property transactions have hit a record low this week, at their lowest monthly level since comparable records began in 2005. How many transactions were enacted in April?

A. 59,870 B. 55,090 C. 44,380 D. 38,060

10. Which member of Japanese tech-conglomerate Softbank left the company board this week?

A. Jack Ma B. Marcelo Claure C. Yutaka Matsuo D. Rajeev Misra

Answers

1. D) €500bn. Agreed between French President Macron and German Chancellor Angela Merkel, the fund of €500bn has been floated to promote EU integration during a time of crisis.

2. C) 9,000. With 90% of the world’s commercial airline fleet grounded, and income slashed, British manufacturer Rolls Royce has announced plans to cut a total of 9,000 jobs.

3. B) 0.8%. A collapse in commodity prices and increased saving by workers dragged the UK inflation rate down to 0.8%.

4. A) Venezuela. As its financial crisis deepens, Venezuela’s central bank (BVS) has filed a $1 billion lawsuit against the BoE for refusing to release its £200 billion worth of gold reserves, belonging to the South American nation.

5. A) -0.003%. In a symbolic shift in fiscal strategy, the UK sold three-year gilts at a negative yield of 0.003% for the first time in history.

6. A) AstraZeneca. As its Covid-19 vaccine enters the third phases of trials, UK based pharmaceutical AstraZeneca received $1bn funding form the US Biomedical Advanced Research and Development Authority, with plans to produce one billion doses before September 2020.

7. C) £150m. On Wednesday, culture secretary Oliver Dowden pledged to raise a total of £150m from dormant accounts, including funds raised in this manner earlier this year, to bolster charities against coronavirus losses.

8. A) 2,800. Despite widespread promises to pause redundancies during the Covid-19 crisis, 2,800 front-line jobs have been lost at the big banks, as billions in assets are put aside to weather the financial storm.

9. A) 38,060. Following sliding demand under lockdown, only 38,060 property transactions took place in the UK last month, driven lower than at the bottom of the 2008 financial crisis.

10. A) Jack Ma. After 14 years with the company, former Alibaba chairman Jack Ma announced that he is leaving SoftBank this week to focus on interests in Education.

Recommended

I wish I knew what moral hazard was, but I’m too embarrassed to ask
Too embarrassed to ask

I wish I knew what moral hazard was, but I’m too embarrassed to ask

The term “moral hazard” comes from the insurance industry in the 18th century. But what does it mean today?
28 Sep 2021
Has passive investing created a stockmarket bubble?
Sponsored

Has passive investing created a stockmarket bubble?

Over the past two decades, investors have been switching from buying actively managed investment funds to buying passive funds that simply track a mar…
28 Sep 2021
Why are people panicking about fuel shortages?
UK Economy

Why are people panicking about fuel shortages?

With huge queues forming at petrol stations around the country, Saloni Sardana looks at the reasons behind the fuel shortage and asks how long it's l…
28 Sep 2021
Why investors should beware of corporate waffle
Investment strategy

Why investors should beware of corporate waffle

When top executives try to retreat behind impenetrable jargon, investors should be very sceptical, says John Stepek.
28 Sep 2021

Most Popular

A nightmare 1970s scenario for investors is edging closer
Investment strategy

A nightmare 1970s scenario for investors is edging closer

Inflation need not be a worry unless it is driven by labour market shortages. Unfortunately, writes macroeconomist Philip Pilkington, that’s exactly w…
17 Sep 2021
What really causes inflation? Here’s what prices since 1970 tell us
Inflation

What really causes inflation? Here’s what prices since 1970 tell us

As UK inflation hits 3.2%, Dominic Frisby compares the cost of living 50 years ago with that of today, and explains how debt drives prices higher.
15 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021