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Welcome to The Globe and Mail’s business and investing news quiz. Join us each week to test your knowledge of the stories making the headlines. Our business reporters come up with the questions, and you can show us what you know.

This week: It’s the last days of summer – and bank earnings season. Canada’s biggest banks report their third-quarter earnings this week, covering the three months that ended July 31. Perhaps most notably, Toronto-Dominion Bank reported its first quarterly loss in 21 years after it set aside a US$2.6-billion provision to pay anticipated regulatory fines over anti-money laundering failures.

But investors worldwide were focused on Nvidia’s results, which are treated as a proxy for the strength of the AI boom. The chip maker forecast revenue of US$32.5-billion, plus or minus two per cent, for its coming quarter, compared with analysts’ estimates of US$31.8-billion. Yet, despite outpacing analyst expectations, the company’s stock still dropped after the earnings were released. There’s no pleasing some people – investors in particular.


1Nvidia reported its second-quarter results this week, with more than one media outlet comparing the earnings release to what major cultural event?
a. The Oscars
b. The Super Bowl
c. The U.S. election
d. The Met Gala

b. The Super Bowl. The Wall Street Journal, Reuters and NPR all compared the chip maker’s highly anticipated results to the Big Game. Never mind that the Super Bowl is an annual event and quarterly reports come, well, quarterly.

2We’ve just concluded earnings season for the Big Six banks. Which two banks reported earnings that missed analysts’ estimates?
a. Toronto-Dominion Bank and Bank of Montreal
b. Bank of Montreal and Bank of Nova Scotia
c. Toronto-Dominion Bank and CIBC
d. Bank of Nova Scotia and National Bank

a. Toronto-Dominion Bank and Bank of Montreal. Canadian Imperial Bank of Commerce, Royal Bank of Canada, Bank of Nova Scotia and National Bank of Canada reported earnings that beat analysts’ estimates.

3Pavel Durov, the founder of messaging app Telegram, was arrested and then released by French officials this week. Over the years, he has amassed various citizenships. Where is he not a citizen?
a. Saint Kitts and Nevis
b. France
c. Australia
d. The United Arab Emirates

c. Australia. Born in Russia, the tech executive has amassed passports from other countries, which may complicate efforts to prosecute him amid allegations his platform facilitated the distribution of child-sexual abuse material and drug trafficking.

4How many outlets will Tokyo Smoke, a cannabis retailer, close as it undergoes a restructuring?
a. 12
b. 225
c. 29
d. 117

c. 29. The company is seeking creditor protection, but will keep 167 stores open across Ontario, Manitoba, Saskatchewan and Newfoundland and Labrador amid the restructuring.

5What is the estimated total cost for damage caused by the Jasper wildfire earlier this summer, according to the Insurance Bureau of Canada?
a. $670-million
b. $530-million
c. $880-million
d. $1.4-billion

c. $880-million. The bureau says the wildfire that tore through Jasper is the second-most expensive one in Alberta’s history for insured losses.

6The CEO of which Canadian software company this week unexpectedly announced he will be stepping down?
a. Shopify
b. OpenText
c. Lightspeed
d. Kinaxis

d. Kinaxis said Tuesday John Sicard will retire at the end of 2024 after three decades with the company, which makes supply chain software. The company’s stock slid sharply after the announcement.

7Which social-media platform is most often consulted by people looking for help with financial decisions, according to a recent survey?
a. Reddit
b. Facebook
c. YouTube
d. TikTok

c. YouTube. A survey commissioned by the British Columbia Securities Commission asked participants which social-media platforms and online discussion forums they used to help them make financial decisions. Ten per cent cited YouTube.

8Air Canada says passengers with tickets between Sept. 15 and 23 can rebook on any other flight with the same route up to Nov. 30 at no additional cost. Why?
a. The airline is anticipating disruptions caused by a pilots’ strike
b. The airline is anticipating disruptions caused by hurricanes
c. The airline is anticipating disruptions caused by wildfires
d. The airline is anticipating disruptions caused by an airport labour shortage

a. The airline is anticipating disruptions caused by a pilots’ strike. The airline Air Canada is offering passengers with flights close to the date of a possible pilot strike next month some increased flexibility in rebooking.

9The OLN cable channel is being rebranded this fall. What is its new name?
a. Zoinks
b. Huzzah
c. Bravo
d. Booyah

c. Bravo. Rogers announced the rebranding as it rolled out plans for several U.S. lifestyle brands for which it recently acquired the rights.

10Political strife in which country has cut its oil production by half this week?
a. Libya
b. Yemen
c. Saudi Arabia
d. Norway

a. Libya. Exports at several ports were also halted by a standoff between factions over control of the country’s central bank and oil revenue.

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