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Quiz of the week 7 – 13 November

A cosmetics company was rescued from the brink of bankruptcy this week. But which one? And what else happened in the last seven days? Test your knowledge with our quiz of the week

1. Russia’s most expensive diamond ever was sold for $26.6m at Sotheby’s in Geneva this week. What colour was it?

a. Steel grey, b. Black, c. Yellow, d. Pink

2. The number of job openings in the US has been steadily rising since the spring, and has nearly recovered to pre-coronavirus levels. But this week a new record high number of cases was reported, hospitalisations have increased by 30%, and a state became the first to pass one million confirmed cases. Which one was it?

a. Texas, b. California, c. New York, d. Arizona

3. A £1.7bn two-mile road tunnel has caused concern as it has been approved to go ahead near which Unesco World Heritage Site?

a. Blenheim Palace, b. City of Bath, c. Stonehenge, d. The Lake District

4. DIY and homeware shops have been buoyed by lockdown as those stuck at home seek to make improvements. The bosses of which shop look set for a £44m payout after its profits more than doubled?

a. Halfords, b. B&Q, c. B&M, d. Argos

5. The Danish government ordered the culling of which animal after it was discovered they developed a mutated version of the Covid-19 virus?

a. Mink, b. Weasel, c. Ferret, d. Chinchilla

6. What happened to the price of oil upon the Covid-19 vaccine announcement?

a. It has continued to rise since then, b. It stayed the same, c. It rallied early in the week but growth has slowed since, d. It rallied early in the week but has fallen since

7. Which cosmetics company was pulled back from the brink of bankruptcy this week after a deal over its debt was struck? 

a. Revlon,  b. Coty,  c. Estee Lauder,  d. L’Oreal 

8. What did Pfizer’s chief executive do on the day the drug maker announced its coronavirus vaccine was over 90% effective? 

a. Put out a statement saying the vaccine should be given out free of charge, b. Gave the lead scientists a bonus,  c. Sold almost two-thirds of his own shares,  d. Announced a dividend for shareholders 

9. Which cult streetwear brand was sold to VF corporation, the parent company behind Vans, The North Face and Timberland, for $2.1bn?

a. Stussy, b. Off-White, c. Palace, d. Supreme

10. How much is Boris Johnson’s “moonshot” pledge for mass coronavirus testing expected to cost the government?

a. £22bn, b. £32bn, c. £43bn, d. £40bn

Answers

1. d. Pink. The 14.8-carat stone was nicknamed The Spirit of the Rose, and it’s the largest of its kind to be sold. Over 99% of all pink diamonds are under ten carats.

2. a. Texas.

3. c. Stonehenge. The project will see the A303 widened to a dual carriageway, and buried beneath the monument, which is thousands of years old. Construction is due to start in 2023, and the tunnel is expected to be open by 2028. It was first proposed in the late eighties, but rejected due to archeological concerns.

4. c. B&M. The company also revealed it will pay a £250m special dividend to investors, and will be increasing the interim dividend on top of that.

5. a. Mink. Mink farmers were offered a DKr20 ($3.20) bonus per creature killed. The country has a population of around 17 million mink, two thirds of which have already been culled.

6. d. It rallied early in the week but has fallen since. Brent crude rallied this week after the announcement of the vaccine prompted hope of a boost in economic demand, but fell 0.6% Frida morning to above $43 per barrel.

7. a. Revlon. A sufficient percentage of holders of bonds due in 2021 agreed to being repaid early, but at a deep discount (just 32.5c on the dollar).

8. c. Sold thousands of his own shares. Albert Bourla sold over 130,000 shares on Monday (62% of his holding), the same day the vaccine was announced, at $41.94 each, making around $5.6m from the sale. (The sale was organised in late August, and there is no suggestion of any wrongdoing).

9. d. Supreme. Supreme currently generates over $500m in annual revenues, up from $200m in 2017. Around 60% of its revenue comes from online orders.

10. d. £40bn. Public Health England issued a £22bn contract for the development of tests, and the NHS issued another bill of £20bn for on-the-spot tests and diagnostic equipments.

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