1. The US Treasury mistakenly sent over $1.4bn in pandemic rescue funds to which group, who is unable to claim it?
A. DACA recipients
B. Minors
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
C. Dead people
D. TPS recipients
2. How much money is still owed to Welsh consumers after holidays and events were cancelled by the coronavirus pandemic?
a. £2.5m
b. £1.8m
c. £3.4m
d. £1.5m
3. Chinese company Huawei was given clearance this week to build a £1bn facility dedicated to what in England?
a. Developing 5G signal towers
b. For chip research and manufacturing
c. Data mining
d. Mobile phone production
4. Which European country is extending its emergency paid leave schemes for an additional three months after unions called for more generous measures?
a. France
b. Italy
c. Portugal
D. Spain
5. When did Liverpool FC last win the Premier League?
a. 1990
b. 1988
c. 1980
d. 2000
6. Health secretary Matt Hancock said this week he had the power to close down which public spaces if people did not respect social-distancing rules?
a. Pubs
b. Parks
c. Beaches
d. Shops
7. German technology group Wirecard filed for insolvency this week, owing how much money in “one of Europe’s biggest corporate failures”, according to The Times?
a. €2.5bn
b. €3.5bn
c. €3.2bn
d. €4.5bn
8. UK retailers paid only how much of the sector’s £2.5bn quarterly rent bill due this week?
a. 50%
b. 14%
c. 5%
d. 33%
9. When is the vast majority of England’s hospitality sector reopening?
a. June 27
b. June 30
c. July 1
d. July 4
10. What country became the first to lose its triple-A credit rating because of the economic downturn triggered by the coronavirus pandemic?
a. Canada
b. Australia
c. Norway
d. Finland
Answers
1. c) Dead people. The US Government Accountability Office found the Treasury Department, in charge of mailing stimulus cheques to American families, failed to check death records before sending them.
2. a) £2.5m. Trading standards officials said they have been “deluged” with complaints about refunds, and as much as £2.5m is outstanding in claims for compensation.
3. b) For chip research and manufacturing.
4. d) Spain.
5. a) 1990. The team won its first league title in 30 years after Chelsea beat Manchester City 2-1, securing Liverpool the title for the first time since 1990.
6. c) Beaches. A major incident was declared after around half a million people flocked to the beach due to soaring temperatures, with Bournemouth East MP Tobias Ellwood calling on the government to step in and help the council deal with the crisis.
7. b) €3.5bn. It is the first company in Germany’s prestigious Dax, the FTSE 100 equivalent, to file for insolvency after an accounting scandal that led to the arrest of its chief executive. The company was valued at €13bn last week before revelations that €1.9bn of cash was missing.
8. b) 14%. Retailers paid only 14% “as the high street crisis triggered by the lockdown reverberated through the property industry”, says Zoe Wood in The Guardian.
9. d) 4 July.
10. a) Canada. Fitch ratings downgraded Canada’s long-term foreign currency issuer default rating from AA+ to AAA, saying the decision “reflects the deterioration of Canada’s public finances in 2020 resulting from the coronavirus pandemic”, says Paul Vieira in The Wall Street Journal.
-
10 vinyl records worth up to £10,000 - is one in your collection?News Vinyl is experiencing a resurgence and collectors will pay up to £10,000 for some albums - is it time to dust off your old records?
-
FCA: Banks are still short-changing savers
The latest FCA review finds that while public shaming has encouraged providers into offering better deals on savings, many of those with closed accounts are still being shortchanged.
-
UK wages grow at a record pace
The latest UK wages data will add pressure on the BoE to push interest rates even higher.
-
Trapped in a time of zombie government
It’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 debt
The 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 growth
Gross 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 high
Stubborn inflation fuels wage growth, hitting a 20-year record high. But unemployment jumps
-
UK inflation remains at 8.7% ‒ what it means for your money
Inflation 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.
