Overview of Top weekly news 19.1. 2022

19 / 01 / 2022
Trading is risky and your entire investment may be at risk

KPMG was fined

KPMG was responsible for audits of the Conviviality store chain. However, Britain’s accounting watchdog came across an accounting firm error and fined KPMG £ 4.3 million for questionable chain business audits. KPMG will also need to notify the Authority of the reasons for the 2017 audit deficiencies. The company apologized for this mistake

Microsoft plans to acquire a controversial company

It is an acquisition of the gaming company Activision Blizzard, which also faced lawsuits for sexual harassment and discrimination. With this offer, Microsoft plans to turn the gaming studio into the third largest company in the industry by revenue. The redemption value is expected to be around $ 95 per share, with the value of this cash transaction being a whopping $ 68.7 billion. It will be one of the largest acquisitions in the technology sector in recent years.

Performance of Microsoft Corporation over for 5 years. (Source: Investing.com)

Inflation has risen in Britain

For December, we could see much higher numbers than expected. British consumer price inflation rose to 5.4% in December, the highest in almost 30 years. The rise of the CPI to its highest level since 1992 reflects a wide range of goods and services. The Bank of England will be forced to raise interest rates in the country again next month. Increased inflation has affected all EU countries.

Oil pipeline fire

Oil prices are rising again due to the failure of the pipeline from Iraq to Turkey. The tense situation with Ukraine and Russia is affecting oil prices at the same time and sending them higher. Brent futures rose, followed by West Texas Intermediate (WTI) in the US. WTI had previously jumped the highest since October 9, 2014. The pipeline was interrupted by a fire. The pipeline transports oil from Iraq, the second largest producer in the Organization of the Petroleum Exporting Countries (OPEC), to the Turkish port of Ceyhan for export.

Watch this week:

On Thursday, Eurozone Consumer Price Index (CPI) YoY will be published.

On Friday, European Central Bank (ECB) President Christine Lagarde (November 2019 – October 2027) is to speak.

Disclaimer: The content of the Reports constitutes Marketing Communication and does not constitute Investment Advice or Investment Research or an offer for any transactions in financial instrument. The content of the Reports represents the view of our experts on a generic basis, and does not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the Reports have not been prepared in accordance with legal requirements designed to promote the independence of Investment Research, and are not subject to any prohibition on dealing ahead of the dissemination of Investment Research. Readers using the Reports should consider the possibility of encountering substantial losses. The past performance is not a guarantee of future results. Therefore, Goldenburg Group Limited shall not accept any responsibility for any losses of traders due to the use and the content of its Reports.