MoneyWeek Christmas quiz
This year has seen a banking crisis, further interest-rate rises to combat inflation, and upheaval at BP and social-media giant X. See how much you can remember with our Christmas Quiz
Money
1. Between April and June 2023, UK wages grew at their strongest pace since records began, fuelling concern that a wage-price spiral could boost inflation despite 14 consecutive interest-rate hikes. What was the rate of annual growth in regular pay, excluding bonuses? 1) 8.7% 2) 7.8% 3) 7.5%
2. In order to curb soaring inflation, in November Turkey’s central bank raised its main interest rate by five percentage points to its highest level in nearly two decades. What was the rate?
1) 35% 2) 45% 3) 40%
3. In November 2023 chancellor Jeremy Hunt raised the National Living Wage (NLW) and adjusted it to include people over 21 (the previous minimum age was 25) for the first time. What is the new NLW that is expected to take effect from next April? 1) £11.44 an hour 2) £10.44 an hour 3) £12 an hour
4. How much did regulator Ofcom fine Royal Mail for failing to meet first- and second- class delivery targets by a “significant and unexplained margin” in the 2022-2023 financial year?
1) £6.6m 2) £6.5m 3) £5.6m
5. Dame Alison Rose resigned as CEO of NatWest after she admitted discussing details about the closure of Nigel Farage’s Coutts bank account with a journalist. She received her £2.4m pay package for 2023 under the terms of her contract, but will forfeit how much in share awards and bonuses? 1) £7.6m 2) £8.2m 3) £5.7m
6. To mark King Charles’s accession to the throne, the Royal Mint has retired a traditional heraldic decoration that has dominated coinage for centuries in favour of a new motif. What is the new theme that will appear on UK coins? 1) Nature and wildlife 2) Art and culture 3) Science and technology
7. In June, the US Congress approved a deal to suspend the government’s borrowing limit, averting a default on debt repayments. How much does the US government owe?
1) $41.5trn 2) $34.1trn 3) $31.4trn
8. Football’s governing body Fifa raised the prize money for the 2023 Women’s World Cup. How much did champions Spain receive?
1) $8m 2) $4m 3) $10.5m
9. In the last rate decision of the year, the Bank of England left interest rates on hold for the third time in a row at 5.25%. This is the highest level in how many years?
1) 15 2) 20 3) 10
People
1. Sam Altman was ousted by the board of directors of OpenAI, the firm behind ChatGPT, for failing to be “consistently candid in his communications”. How many days later was he reinstated as CEO?
1) 7 days 2) 4 days 3) 2 days
2. FTX’s founder Sam Bankman-Fried was found guilty of seven counts of defrauding his customers out of billions of dollars and money laundering. At its peak, how much was his cryptocurrency exchange firm worth?
1) $40bn 2) $30bn 3) $32bn
3. Who did Elon Musk appoint as the new CEO of X, formerly Twitter, and charge with overseeing business operations and increasing advertising revenue?
1) Belinda Yacarrino 2) Linda Yacarrino 3) Lindsay Yacarrino
4. Who did US philanthropist George Soros appoint to head his $25bn charitable and financial empire?
1) His son Alexander
2) His daughter Alexandra 3) His brother Andros
5. Who recently succeeded Philip Lowe as governor of the Reserve Bank of Australia, becoming the first woman to lead the central bank since its inception in 1960? 1) Christine Lagarde 2) Michele Bullock 3) Kristalina Georgieva
6. Irish author Paul Lynch won the 2023 Booker Prize for his dystopian novel Prophet Song. How much is the literary prize worth?
1) £20,000 2) £50,000 3) £100,000
7. Former US president Donald Trump is the favourite to become the Republican candidate in next year’s presidential election despite a torrent of legal woes. How many felony accounts does he face in total?
1) 91 2) 101 3) 81
8. The prime minister of which country resigned in November following a corruption probe involving lithium and green hydrogen deals?
1) Spain 2) Netherlands 3) Portugal
9. Which former governor of the Bank of England endorsed Labour MP Rachel Reeves as the next chancellor in a pre-recorded video at the party’s conference? 1) Andrew Bailey 2) Mervyn King 3) Mark Carney
Markets
1. Dual-listed Tui is considering delisting from the London Stock Exchange to move to a single listing in which city?
1) Paris 2) Frankfurt 3) Madrid
2. In December, the price of gold hit a record high thanks to a fall in the US dollar amid growing expectations that the US Federal Reserve will slash interest rates next year. What all-time peak did the yellow metal reach?
1) $2,072 per troy ounce 2) $2,135/oz
3) $2,445/oz
3. Specialist emerging-markets fund Somerset Capital Management is to wind down after losing $2.5bn in assets after its biggest client, wealth manager St James’s Place, terminated their relationship. Which Conservative MP co-founded Somerset in 2007?
1) Michael Gove 2) Boris Johnson 3) Jacob Rees-Mogg
4. Which US stock trading app is to launch in the UK next year in a bid to expand its global footprint, following an aborted attempt three years ago? 1) Robinhood 2) Coinbase 3) Webull
5. Which contentious practice did South Korea’s financial regulator ban in order to placate retail investors (a powerful force in the country’s $2trn stockmarket) ahead of next year’s parliamentary elections? 1) Meme stocks 2) Put options 3) Short-selling
6. Which embattled high-street
lender received a £925m rescue package from investors in order to bolster its balance sheet?
1) Lloyds 2) Santander 3) Metro Bank
7. Which country adopted the euro as its currency this year, a decade after joining the European Union?
1) Croatia 2) Poland 3) Sweden
8. With its economy struggling, Lebanon devalued its official exchange rate to 15,000 Lebanese pounds per US dollar. How much did Lebanon devalue its currency by?
1) 30% 2) 50% 3) 90%
9. Which country will join the Opec+ alliance of oil-producing countries next month?
1) India 2) Argentina 3) Brazil
10. What “historic” step was agreed at the COP28 summit in Dubai to cut greenhouse gas emissions to net zero by 2050? 1) A ban on fossil fuels
2) A transition away from fossil fuels
3) A reduction in the production and consumption of fossil fuels
Companies
1. What is X’s valuation a year after Elon Musk acquired the social-media app previously known as Twitter for $44bn? 1) $29bn 2) $19bn 3) $50bn
2. Which activist investor is locked in a bitter battle with Disney’s CEO Bob Iger in an attempt to join the media giant’s board?
1) Nelson Peltz of Trian Partners 2) Elon Musk
3) Elliott Management
3. Which lender became the largest US bank to fail since the 2008 global financial meltdown, triggering a regional banking crisis?
1) United Bank 2) Silicon Valley Bank 3) Eastern Bank
4. Which company joined the exclusive club of US firms with a valuation of $1trn? 1) Nvidia 2) Tesla 3) JPMorgan Chase
5. How much will Bernard Looney lose in pay and share awards after being sacked as CEO of BP following allegations of misconduct?
1) £30m 2) £32m 3) £40m
6. Which high-street stalwart collapsed into administration in August,
putting 12,000 jobs at risk? 1) Wilko 2) Poundland 3) B&M
7. Which disgraced former Silicon Valley boss reported to prison in the US earlier this year to start an 11-year sentence for fraud?
1) Jane Theranos 2) Elizabeth Holmes 3) Isabel Homes
8. Which US city does the billionaire hedge-fund manager Ken Griffin believe could replace New York City as the country’s financial capital? 1) Boston 2) Los Angeles 3) Miami
9. Farfetch saw its market capitalisation plummet from a high of $24bn in 2021 as the online luxury retailer struggled to become profitable. What is the company currently worth? 1) $250m 2) $220m 3) $300m