MoneyWeek's quiz of the week, 22-28 August

1. Which prominent Asian politician stepped down from his position this week due to a persistent case of ulcerative colitis?

A. Chinese president, Xi Xinping,

B. South Korean prime minister, Chung Sye-kyun,

C. Supreme leader of North Korea, Kim Jong-un,

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D. Japanese prime minister, Shinzo Abe

2. British engineering firm Rolls-Royce has run into choppy financial waters since the start of the Covid-19 pandemic; how significant are its losses so far in 2020?

A. £3bn,

B. £3.5bn,

C. £4.1bn,

D. £5.4bn

3. Chinese payments company Ant Group, owned by Alibaba tycoon Jack Ma, revealed its 2019 profits to be over $2.6bn, but what is the estimated value of its soon-to-be-record-shattering IPO?

A. $23bn,

B. $25bn,

C. $27bn,

D. $30bn

4. The chief executive of Chinese social media app TikTok has recently resigned over escalating political tensions between the US and China, citing Donald Trump’s suggested ban of the platform as the inciting incident for his departure. What was his name?

A. Allen Zhang,

B. Kevin Mayer,

C. Victor Koo,

D. Chen Qi

5. Spiralling deeper into the global slump in aviation, American Airlines has announced plans to lay off how many workers by October 2020, unless it receives federal aid?

A. 9,000,

B. 15,000,

C. 19,000,

D. 20,000

6. Elon Musk’s electric car company Tesla broke new ground for its market capitalisation, becoming the highest-valued car-maker in the world. How much is the company worth?

A. $270bn,

B. $300bn,

C. $380bn,

D. $400bn

7. After being hit by a paralysing DDoS hacking attack, which Oceanic stock exchange was recently shut down for two days in a row?

A. The Australian ASX 100,

B. Papua New Guinea’s PNGX,

C. New Zealand’s NZX,

D. The South Pacific Stock Exchange, SPX.

8. In a surprising move in support of consumer privacy, tech giant Apple revealed has its plans for its new iPhone software, which forces applications to ask users to opt in to ad-tracking. Which social media company has criticised Apple in response, claiming that it could cut their revenue “by half”.

A. TikTok,

B. Twitter,

C. Facebook,

D. Snapchat

9. Reporting a loss of £344 in 2020, UK-based Gatwick airport has seen passenger numbers fall by two-thirds since this time last year. How many people have stopped flying there?

A. 7.2 million,

B. 8.3 million,

C. 9.6 million,

D. 14.3 million

10. After announcing the planned closure of up to 30 of their UK stores this summer, amid the falling sales of the Covid-19 pandemic, which high-street sandwich chain has recently reported planned lay-offs of 3,000 jobs?

A. Greggs,

B. Pret a Manger,

C. Subway,

D. Baguette Express

Answers

1. D. Japanese prime minister, Shinzo Abe. After battling with the disease for years, Japan’s longest-running prime minister, Shinzo Abe, has chosen to resign due to developments in his case of ulcerative colitis.

2. D. £5.4bn. As sales for aviation parts designed for Boeing and Airbus have slumped amid coronavirus turbulence, Rolls-Royce has lost an estimated £5.4bn in the first half of 2020.

3.D. $30bn. After Jack Ma’s Alibaba Group broke records with its IPO valuation of $25bn, his payments company Ant Group looks to be taking the top spot, with a predicted IPO of $30bn.

4. B. Kevin Mayer. As tremors from the geopolitical stage begin to jostle the tech world, TikTok CEO Kevin Mayer has chosen to resign, with his “global role” made more difficult by changing events.

5. C. 19,000. As the aviation industry continues to suffer under the weight of travel bans and declining sales, US giant American Airlines has announced plans to lose 19,000 of its workers, if it goes without aid until October.

6. D. $400bn. Valued at over $400bn, the market cap of Tesla is worth more than it has ever been, with no signs of slowing down.

7. C. New Zealand’s NZX. Overwhelmed by hackers, New Zealand’s NZX stock exchange was recently closed for two days in a row, as criminal programmers overloaded the systems computing network.

8. C. Facebook. Following Apple’s announcement detailing the tracking policy of its new operating system iOS 14, social media behemoth Facebook has criticised the move, claiming that it could cut company revenue by half.

9. D. 14.3 million. Since this time last year, Gatwick airport has seen a reduction of passengers by 14.3 million people, playing into the substantial losses which plague the airline industry worldwide.

10. B. Pret a Manger. Headquartered in London, international sandwich chain Pret a Manger has additionally reported its plans to cut 3,000 job in the UK, following ‘most of their growth’ being sapped by the Covid-19 lockdown and pandemic.