What is the biggest risk to Canada’s economy right now? Take our business and investing news quiz for the week of Dec. 13

a. The potential for new U.S. tariffs on Canadian goods. Bank of Canada Governor Tiff Macklem warned that if U.S. president-elect Donald Trump follows through on his tariff threats the impact on Canada would be “very disruptive.”

d. Quebec and Newfoundland and Labradorwhich has long wanted to renegotiate the original Churchill Falls contract. Signed in 1969, it gives Quebec the right to purchase power until 2041 at prices that are now far below market value. Sources say the new contract will result in more money for Newfoundland and encourage joint projects to generate even more electricity.

c. Fire Federal Reserve Chairman Jerome Powell. Mr. Trump told an NBC interviewer this week that he would not seek to replace Mr. Powell, whose term as Fed chief ends in 2026. But flying cars? Oh, yeah.

b. It loosened monetary policy. Beijing said it was adopting “appropriately loose” monetary policy to boost consumption as the country faces the growing possibility of new U.S. tariffs. China last adopted a looser policy regimen during the global financial crisis of 2008 to 2010, but has since operated under a tighter monetary policy it labels “prudent.”

c. Two private equity firms struck deals for parts of NFL teams this week. Ares Management bought a 10 per cent stake in the Miami Dolphins and Arctos purchased a minority interest in the Buffalo Bills. The transactions are expected to be the first of many similar investments now that the NFL has opened the door to Wall Street funds owing a minority portion of football teams.

b. Change the terms of a family trust to favour one child over others. A Nevada probate commissioner ruled that Mr. Murdoch had acted in “bad faith” when he attempted to amend an irrevocable trust that would divide control of his right-wing media empire equally among his four oldest children when he dies. The billionaire had attempted to change the trust to consolidate control of Fox News and other properties in the hands of his son Lachlan rather than see Lachlan share control with his three more politically moderate siblings.

d. Ad agency. New York-based Omnicom is buying its cross-town rival Interpublic Group in a US$13.25-billion all-stock deal that will create the world’s largest ad agency. The hope is that the supersized agency will be better able to compete for digital advertising dollars with the giant tech firms that increasingly dominate the ad market.

d. The two companies’ US$25-billion merger plan fizzled after courts blocked the deal. Albertsons is now suing for billions of dollars in damages because it says Kroger failed to take “any and all actions” to get the deal approved.

b. Coffee beans. The price of your morning jolt may be going up. Bad weather has hit Brazil and Vietnam, the world’s two largest coffee producers. Prices for Arabica beans, which account for most global production, hit a record high this week and are up more than 80 per cent this year.

c. A glut of government debt. The Bank for International Settlements warned that soaring government debt could destabilize financial markets if bond buyers suddenly start demanding higher interest rates to offset the risks posed by the large budget deficits in many countries.

a. Ontario could cut off electricity exports to the U.S. if Mr. Trump imposes tariffs on Canadian goods, Mr. Ford said. Ontario exported 13.9 million megawatt-hours of electricity to the U.S. in 2023, according to Statistics Canada.