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How long does Stelco have to respond to Ottawa? Take our business and investing news quiz for the week ending Oct. 23

How long does Stelco have to respond to Ottawa? Take our business and investing news quiz for the week ending Oct. 23



Open this photo in gallery:

Stelco’s Hamilton operations steel production facility is pictured from across the Hamilton Harbour in Burlington, Ont., on Friday, Oct. 9, 2026.Nick Iwanyshyn/The Canadian Press

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

This week: Canada’s inflation rate was released, Anthropic is on the verge of an initial public offering and Ottawa and Ontario pledged billions to help support a number of key sectors. Take our quiz and find out what happened in business.


1Showdown time! Federal Industry Minister Mélanie Joly has sent Stelco a new letter demanding it comply with the job guarantees it made to Ottawa. How long does the U.S.-owned steelmaker have to respond?

a. 48 hours

b. One week

c. 15 days

d. One month

c. The steelmaker, owned by Ohio-based Cleveland-Cliffs, has 15 days to respond or possibly face legal action. On Sept. 28, Stelco announced that it was laying off up to 500 workers in Hamilton and Nanticoke, Ont. The federal government says the layoffs breach job commitments that Cliffs made when it acquired Stelco in 2024. Ms. Joly and Lourenco Goncalves, the combative, Trump-supporting chief executive of Cliffs, will now duke it out.

2Canada’s strategic reserve of which natural resource is close to empty?

a. Gasoline

b. Maple syrup

c. Potash

d. Lumber

b. Canada’s official maple syrup reserve is sitting near empty, the result of a strong surge in demand that has drained supply to levels not seen in more than a decade. The Quebec industry, worth about $1.2-billion a year, produces most of the world’s maple syrup.

3Canada’s annual inflation rate in September was:

a. Below 2 per cent

b. Between 2 and 3 per cent

c. A hair above 3 per cent

d. Above 4 per cent

c. The annual pace of inflation rose to 3.1 per cent in September as war in the Middle East continued to drive up gas prices. The acceleration was led by surging fuel prices, according to Statistics Canada. Excluding gasoline, consumer prices increased 2.2 per cent year-over-year.

4Anthropic, the artificial intelligence giant behind the Claude chatbot, is on the verge of an initial public offering (IPO). Perhaps not coincidentally, it has promised to:

a. Provide its services free to hospitals and police departments

b. Put 5 per cent of its shares in a public benefit fund

c. Donate billions to education

d. Give every U.S. child a free share

b. Anthropic says it will commit 5 per cent of its shares to a new public benefit fund that will make donations for the “public good.” The move comes at a time when Anthropic is planning one of the biggest IPOs in history.

5What does the Nova Scotia government insist is “world class” in the province?

a. Computing power

b. Craft beer

c. Wind

d. Health care

c. “World class” is among the superlatives used by Nova Scotia’s government to describe the strength of the province’s offshore breezes. The boast is an important part of the province’s sales pitch for Wind West, a plan to build wind farms off the province’s coasts. Sadly, though, federal officials acknowledge that hard evidence for the world-class claim is sparse.

6Ouch! Air Canada is now charging customers $30 for:

a. Booking their flights by phone

b. Using a laptop computer during a flight

c. An in-flight martini

d. An in-flight blanket and pillow

a. Air Canada customers who book their flights by phone are now paying $30 per passenger for the privilege. For a family of four who books their Air Canada trip the old-fashioned way, the bill will run an extra $120. The move is an attempt to cut call-centre costs by steering customers to the company’s website or app. Other airlines, including WestJet, United Airlines and numerous low-cost carriers, already charge non-refundable phone booking fees.

7Ottawa and Ontario pledged billions this week to help support a number of key sectors, including the Ring of Fire. What the heck is the Ring of Fire?

a. A mining region

b. A nuclear fusion program

c. A ship-building program

d. A wine-producing region

a. Located in a remote, boggy patch of northern Ontario, about 550 kilometres north of Thunder Bay, the Ring of Fire is a region that mining promoters have long touted for its potential to produce critical minerals such as nickel and chromite. How real is that potential? We will find out over the next few years. Ottawa says it will commit up to $1-billion to build roads to reach the Ring of Fire.

8Many websites around the world were forced to close down temporarily this week because of problems with PHP. What the heck is PHP?

a. A cybercrime organization

b. A type of malware

c. A cryptocurrency

d. A programming language

d. PHP is a programming language that is used by many websites. Researchers using AI have discovered a previously unsuspected vulnerability in the language that allows hackers to run unauthorized software on web servers.

9Which large Canadian company just lost its chief technology officer?

a. Shopify

b. Royal Bank of Canada

c. Air Canada

d. Constellation Software

a. Shopify’s chief technical officer Mikhail Parakhin is departing the e-commerce giant after two years. Since he arrived, Shopify has embraced agentic AI to help its merchants sell products to customers via chatbot, a step which industry analysts have said has the potential to reshape the future of online shopping and advertising. Shopify did not say when Mr. Parakhin is leaving or provide a reason for his exit.

10What is helping to drive down the price of Canadian heavy crude compared to its U.S. benchmark?

a. Middle East conflict

b. Competition from Venezuela

c. Environmental regulations

d. Federal taxes

b. The return of Venezuelan oil to the U.S. market is putting pressure on Canadian heavy oil prices. Western Canadian Select heavy crude was selling this week for US$28 a barrel less than West Texas Intermediate, the North American benchmark. The discount on Canadian oil is about US$15 a barrel more than a year ago.

11A judge in New Mexico just levied a US$25-billion penalty on which big tech company?

a. OpenAI

b. Microsoft

c. Tesla

d. Meta Platforms

d. The judge ordered Meta Platforms to pay the whopping penalty after a jury found the company had misled consumers. The case arose from allegations that a political consulting firm involved in Donald Trump’s 2016 presidential campaign obtained data from millions of Facebook users without their consent. The US$25-billion judgment is one of the largest single state verdicts against a company in U.S. history.

12What is National Bank of Canada chief executive officer Laurent Ferreira urging Ottawa to do?

a. Build closer ties to China

b. Appoint a federal regulator of cryptocurrency

c. Raise the retirement age to 70

d. Overhaul the tax code

d. Mr. Ferreira wants Ottawa to overhaul the federal tax system, saying it needs to be “scrapped” and rewritten. The CEO of Canada’s sixth-largest bank argues that a simplification of Canada’s complex tax regime could help attract capital and talent.

How well did you do?

Answer all of the questions to see your result

This wasn’t your week, but that’s okay! We’ll be back next Friday with another business and investing quiz, subscribe to our weekday Business Brief newsletter to prepare.