Thu. Jul 7th, 2022


It might feel like Friday after the torrent of news that has washed through this week but, sadly, it’s only Wednesday.

Which means, of course, it’s time for the answers to our Friday quiz. Enjoy:

1. Vladimir Putin said this week that Europe’s energy companies must start paying for their Russian gas in rubles. Which bank will facilitate the transactions on the Kremlin’s behalf? For a bonus point, what letter has been ascribed to the special accounts that will facilitate the payments?

That would be Gazprombank. And the letter? A ‘K’. We assume for the Kremlin.

2. Inflation is on the up – including in the eurozone. If you take the official estimate at face value, by what percentage have prices shot up over the past 12 months in the single currency area? Bonus point for anyone who can calculate the real interest rate for the region.

Inflation in the single currency area came in at 7.5 per cent in the year to March. The real interest is now minus 8 per cent. Yes, you read that right.

3. The week got off to a bad start for Barclays after it emerged it had oversold structured products. These will now have to be bought back at par. What’s the scale of the expected loss?

$ 450m net of tax, which you should have known from reading new AV head honcho Robin Wigglesworth’s piece on Friday.

4. GameStop and AMC were back to their old, short squeezy selves this week. What’s the name of GameStop’s current chair, who seems to spend most of his time berating short sellers?

Ryan Cohen.

5. What’s the name of the Scottish Limited Partnership that found itself on the US sanctions list?

Djeco Group. More on which, here.

6. The FT has been yacht hunting this week. On which Caribbean island has our pink paper found two of Roman Abramovich’s boats?

Antigua – home not only to some of the oligarch’s boats, but also one of the world’s best flags.

7. Will the ruble-dollar exchange rate end the week above or below where it was before Russia’s invasion of Ukraine began?

Below.

8. Who tweeted this nonsense?

The nonsense tweet belongs to a16z’s Marc Andreessen.


And the winner is. . . Siddharth Ratnam! Thank you for submitting, send us your address and the prize will be in the post shortly.



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