#372 | The Weekly By Quiz

As we collectively savour the gradual return to normality (and the opportunity to sit "inside" the pub during a 50mph gale rather than the pub garden), The Weekly has been monitoring the news feeds from the world of business, politics and travel. Here are a few Sunday morning teasers to see if you've been keeping your finger on the pulse.

Questions:

1. For many (pre-Covid) commuters, the news that the Government will be introducing flexible season tickets was a welcome recognition that (for some at least) the drudgery of the five day commute is "a relic of the past". The news was announced alongside the biggest proposed shake-up of the railways since the less-than-successful privatisation in the 1990s. The reforms will see the creation of a new state-owned body, which will set timetables and prices, sell tickets and manage rail infrastructure. Can you name the new public sector body?

2. Despite Dominic Cummings previous plans to shake up the Civil Service by encouraging "weirdos and misfits with odd skills" to work in government, a report published by the Social Mobility Commission (SMC) has concluded that the Civil Service is even posher than it was in the 1960s. Indeed, those from the "right background" are seemingly able to climb a "velvet drainpipe" of recruitment to the top posts in Whitehall, with only 18% of senior civil servants from a low socio-economic background. According to one civil servant, what language do senior staff sometimes break into during ministerial meetings?

3. In the UK, the "fate" of the corporate workplace is now the subject of significant debate. According to a report by Avison Young, knowledge workers now want a "multiverse of work" rather than simply an office. Put simply, this means both the flexibility to work remotely and a place to gather with co-workers, not either one or the other. There is already some academic research supporting the idea that balancing work across locations is optimal for performance. However, in one East Asian country, which was initially praised for its rapid response to the pandemic, a work culture that demands long hours and being present in the office is making it more difficult to fight a recent Covid-19 outbreak. Can you name the country?

4. According to Zoopla's Q1 2021 Residential Rental Market report, rents in London have slumped by almost 10% in the last year. Average rents in the City of London, Kensington, Chelsea and Westminster are at their lowest levels for a decade, and, across London, rents are at their most affordable levels in years. The average monthly rent currently accounts for around 42% of a single earner’s average gross income, down from 49% in the previous year. However, the falls in London sit in contrast to most of the rest of the country where rents have risen. Do you know which UK city saw the highest percentage increase in rents last year? If you are in need of a clue, the unlikely trio of Alan Shearer, Cheryl Fernandez-Versini and Jimmy Nail should be a certain give-away.

5. Bitcoin experienced one of the most severe price crashes in its history this week. China's announcement that cryptocurrency payments would be banned sent the price of Bitcoin tumbling to less than $31,000 (less than half its April high). However, the currency was dealt a further blow when mercurial entrepreneur, Elon Musk, tweeted that Tesla would no longer be accepting Bitcoin as payment because of environmental concerns. And, he has a point. At the last count, electronic mining of the currency was consuming the same quantity of energy as economies such as Argentina and the Netherlands! That's an issue that doesn't sit well with a clean-energy carmaker. The businessman also reportedly made a mysterious visit to Britain this week flying into Luton airport on his private jet. What was the purpose of his visit?

Enjoy your Sunday.

The Weekly

Answers:

1. The new state-body will be called Great British Railways.
2. Apparently senior civil servants occasionally break into Latin.
3. Taiwan's work culture means employers are sceptical of allowing employees to work from home, even during lockdowns.
4. Rents in Newcastle increased by 5% in the year to March 2021.
5. Elon Musk was reportedly on a site visit for a new car manufacturing plant for his electric vehicle company, Tesla.