Which world leader was accused of crypto fraud this week? Take our business and investing news quiz for the week ending Feb. 21

d. Introducing a universal basic income. Some people love the notion of a universal basic income, others hate it. In a report published this week, Parliamentary Budget Officer Yves Giroux put numbers on what such a program might look like. His group said the net cost to the federal government would be between $3.6-billion and $5-billion, depending on the exact model used, and would result in a Canadian family in the lowest earning group receiving an average of $6,100 in annual disposable income. Both the federal NDP and Liberal Party leadership candidate Karina Gould have supported the notion of a basic personal income plan.

b. Moving its headquarters from Toronto to the United States. Don’t count on corporations for emotional displays of patriotism. Barrick chief executive Mark Bristow told The Globe and Mail that the gold miner is considering redomiciling to the United States from Canada. He said such a move could be good for investors, since it could put Barrick in the S&P 500 index, meaning funds that track the index would have to automatically buy Barrick shares. Oh, and did we mention that a certain guy in the White House would also be pleased?

d. Declaring bankruptcy. Canadians filing for insolvency can either declare bankruptcy or file a consumer proposal, which involves negotiating a lower debt load with lenders. More and more Canadians are choosing the consumer proposal route, but that isn’t always in their best interests. In fact, bankruptcy is typically the better deal for debtors, experts say.

c. Javier Milei of Argentina. Mr. Milei, the firebrand libertarian and Donald Trump ally, was accused this week of pumping up the value of a new cryptocurrency on X just before its value collapsed. Gosh, a cryptocurrency deal that didn’t turn out well for investors? Imagine that.

b. A rule that allows shipments valued under US$800 to enter the U.S. duty free. The exemption is vital to many Canadian retailers, who count on it for easy access to the U.S. market. They fear that President Donald Trump will follow through on his threat to suspend the exemption.

c. Belleville. The federal government has been mulling an enhanced passenger rail system for years now, but this week’s announcement that Ottawa will invest $3.9-billion in a planning phase moves things one small step closer to reality. The project carries a total estimated price tag of up to $90-billion, but don’t buy your tickets just yet – the start of construction is at least five years away.

a. It announced mass layoffs. Remember when Southwest was considered the model airline? In the first major layoffs in its history, the company will slash 1,750 jobs, or 15 per cent of its corporate work force. The airline is feeling heavy pressure from dissident shareholder Elliott Investment Management, which is pushing Southwest to revive its profits and boost its share price.

a. One. Only Meta Platforms has beaten the index by a meaningful amount so far this year. Optimists say the Magnificent Seven’s underwhelming performance is actually good news since it suggests that growth is now being led by a broadening cohort of stocks. Uh-uh. Another interpretation is that the Magnificent Seven are just too pricey for comfort.

c. Spotify is planning to launch a superpremium subscription aimed at audio enthusiasts that will cost an extra US$6 a month, according to the Financial Times. The new subscription, expected to make its debut this autumn, will include higher-quality audio, early access to concert tickets and more functions, according to people familiar with the plans.

b. Manchester United. Ouch. Once proud Man U now languishes far down the Premier League standings. Its financial results are nothing to brag about either. A drop in broadcast revenue and the cost of firing its coaching staff dragged the team to a net loss of £27.7-million ($50-million) in the three months to the end of December.

d. Its fashion division. Canadian Tire has agreed to sell its outdoor and activewear brand Helly Hansen to Kontoor Brands, the U.S.-based owner of the Lee and Wrangler denim brands. Canadian Tire acquired Helly Hansen, a Norway-based clothing line, for $985-million six years ago.

a. $8.3-billion. Ontario’s Integrity Commissioner and its then-auditor-general concluded in 2023 reports that Mr. Ford’s political staff had driven a process that ignored environmental criteria and favored certain developers, who stood to gain approximately $8.3-billion in increased property values.