Key Takeaways:
- McDonald’s Canada has reduced the price of its value menu to $5 to attract cash-strapped customers, indicating economic pressure on households.
- Asking rents in Canada have fallen 2.3% year-over-year, with December marking the 15th consecutive month of declines.
- Elon Musk’s xAI is under investigation by Canada’s privacy commissioner for creating sexualized images of women using its Grok AI chatbot.
- Alphabet, the parent company of Google, has reached a market value of $4 trillion, joining other tech giants such as Nvidia, Microsoft, and Apple.
- Rio Tinto and Glencore are discussing a potential merger, which would make Rio Tinto the world’s largest miner.
Introduction to the Quiz
The Globe and Mail’s business and investing news quiz is a weekly feature that tests readers’ knowledge of current events. This week’s quiz covers a range of topics, including the Canadian economy, international trade, and technological advancements. From the reduction in McDonald’s value menu prices to the investigation into Elon Musk’s xAI, there are many interesting stories to explore.
Economic Indicators
The Canadian economy is facing pressure, as evident from the reduction in McDonald’s value menu prices. The company has slashed the price of its McValue Meal bundles to $5 before tax, down from $5.99 previously. This move reflects the financial stresses on households, according to McDonald’s Canada chief executive officer Annemarie Swijtink. Another economic indicator is the rent that landlords are demanding from prospective tenants. Asking rents in Canada fell 2.3% year-over-year in December, marking the 15th consecutive month of declines.
International Trade and Politics
President Donald Trump has been making headlines with his comments on international trade and politics. He recently denoted the Canada-U.S. free-trade deal as "irrelevant," which underlines his growing frostiness toward the agreement. Trump also threatened a 25% tariff on any country doing business with Iran and promised to cap credit card interest rates at 10% a year. Furthermore, he launched a criminal investigation into Federal Reserve Chair Jerome Powell, which has shaken markets and threatened to drive up bond yields.
Technological Advancements
The big tech companies are getting bigger, with Alphabet, the parent company of Google, reaching a market value of $4 trillion. This milestone has been achieved by only a few companies, including Nvidia, Microsoft, and Apple. In another demonstration of the trend, Rio Tinto and Glencore are discussing a potential merger, which would make Rio Tinto the world’s largest miner. Additionally, National Bank of Canada has opened an office in the United Arab Emirates, expanding its presence in the region.
Business and Investing News
Saks Global, the luxury retail powerhouse, has filed for bankruptcy protection, marking one of the largest retail collapses since the pandemic. The company was split off from Hudson’s Bay Co. a little over a year ago, just weeks before Canada’s oldest retailer began insolvency proceedings. On a brighter note, Bombardier has announced plans to build a $100-million facility in Montreal, which will support its existing product lines, including luxury private jets and aircraft platforms used in the defence sector.
Artificial Intelligence and Ethics
Elon Musk’s xAI is under investigation by Canada’s privacy commissioner for creating sexualized images of women using its Grok AI chatbot. The company has promised to stop creating such images and has imposed restrictions on all users of its chatbot. This incident highlights the need for ethical considerations in the development and use of artificial intelligence.
Conclusion
The business and investing news quiz is a great way to stay up-to-date on current events and test your knowledge. From economic indicators to technological advancements, there are many interesting stories to explore. Whether you are a seasoned investor or just starting to learn about business and investing, this quiz is a valuable resource. By following the news and staying informed, you can make more informed decisions and stay ahead of the curve.
