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Quiz of the week 30 January – 5 February

Tesla chief Elon Musk tweeted messages in support of an obscure cryptocurrency this week, sending its price soaring. But which one? And what else happened this week? Test your recollection of the events of the last seven days with MoneyWeek's quiz of the week.

1. The price of which cryptocurrency jumped after Tesla chief Elon Musk tweeted messages in apparent support of it?

  • a. Bitcoin
  • b. Dogecoin
  • c. Litecoin
  • d. Tether

2. Which tech giant posted quarterly sales figures of over $100bn for the first time for the last quarter of 2020?

  • a. Microsoft
  • b. Twitter
  • c. Apple
  • d. Facebook

3. “Buy now, pay later” services are facing regulation after a report revealed that users have racked up £2.7bn in debt. The sector has been subject to controversy for allowing users to spend over £1,000 with few checks on whether they can afford repayments. Which company is the market leader in the UK?

  • a. Klarna
  • b. Laybuy
  • c. Clearpay
  • d. Afterpay

4. The CEO of which major tech company announced he would be stepping down to become executive chairman, focusing instead on personal climate-change initiatives, space exploration, and the newspaper he owns?

  • a. Reddit’s Steve Huffman
  • b. Facebook’s Mark Zuckerberg
  • c. Apple’s Tim Cook
  • d. Amazon’s Jeff Bezos

5. The UK passed a vaccination milestone this week, having inoculated how many people?

  • a. 5 million
  • b. 15 million
  • c. 10 million
  • d. 20 million

6. Shares in Chinese video-sharing app Kuaishou jumped nearly threefold on their first day of trading in the Hong Kong Stock Exchange, propelling its valuation to $160bn, closing in on main rival Bytedance, owner of TikTok. It raised $5.4bn in its IPO, the biggest tech flotation since which company’s IPO in 2019?

  • a. Uber
  • b. Lyft
  • c. Alibaba
  • d. XP Inc

7. Which bank reported a positive quarter in the three months to December following three years of losses?

  • a. Halifax
  • b. Nationwide
  • c. Virgin Money
  • d. NatWest

8. The Indian government accused celebrities of “sensationalising” the farmers’ protests that have been taking place in Delhi for over two months after which famous singer with over 100 million Twitter followers tweeted about it?

  • a. Kim Kardashian
  • b. Rihanna
  • c. Cher
  • d. Celine Dion

9. The oil industry is still recovering from the effects of the pandemic. Despite a plunge in earnings to its lowest in 15 years, which oil company raised its dividend?

  • a. BP
  • b. Exxon
  • c. Chevron
  • d. Royal Dutch Shell

10. The UK is applying to join a trading bloc of 11 Pacific Rim nations, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Which of the following isn’t part of the CPTPP?

  • a. Mexico
  • b. New Zealand
  • c. South Korea
  • d. Peru

Answers

1. b. Dogecoin. Dogecoin is a minor cryptocurrency, created as a joke to satirise digital currencies. Its price rose 47% within minutes of Musk’s tweets, from about four cents to as high as 5.9 cents before settling back to 4.7 cents. It is named after the popular meme of a Japanese dog.

2. c. Apple. For the three months ending on 26 December 2020 Apple posted sales of, $111.4bn with a profit of $28.7bn, 29% higher than the same period last year.

3. a. Klarna. The Financial Conduct Authority announced this week it would be regulating the sector, which allows users to skip payment at checkout and repay interest-free later. Consumer campaigners have spent months demanding the sector be regulated amid fears shoppers were being encouraged to spend more than they could afford.

4. d. Amazon’s Jeff Bezos. Bezos announced the move this week. His successor will be Andy Jassy, who currently heads Amazon’s web services. The transition will take place in the third quarter of 2021.

5. c. 10 million. Around 15% of the population has received the first dose of the vaccine just under two months after the programme began.

6. a. Uber. Minicab app Uber raised $8bn when it floated in 2019.

7. c. Virgin Money. Chief executive David Duffy said the lender had enjoyed a profitable first quarter in the three months to the end of December but did not provide a profit figure.

8. b. Rihanna. The singer’s tweet was liked over half a million times and inspired other celebrities to lend their support. The Indian government has insisted the protests are an “internal matter”, adding celebrities lacked “a proper understanding of the issues”.

9. d. Royal Dutch Shell. The oil major reported an annual loss of $21.7bn, but it decided to raise its dividend for the second time in recent months after a dramatic cut to the payout last April dragged it down by two-thirds to 16 cents. It raised its dividend to 16.65 cents in October, and will raise it to 17.35 cents in the first quarter of 2021.

10. c. South Korea. The CPTPP was formed in 2018, with Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam as founding members. CPTPP nations made up 8.4% of UK exports in 2019, around the same as exports to Germany.

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