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ZLATOVNA ECONOMIC NEWS
A quick look at what's new in the world of economic policy, finance and precious metals.

Economy: Bundesbank: Germany faces high risk of corporate bankruptcies next year. Industrial prices slowed year-on-year growth in September, agriculture moderated the decline. SAO: The contribution of money to increasing employment of the disadvantaged cannot be evaluated. WTO has improved its estimate of this year's growth in world trade in goods to 2.7 percent. China has overtaken Germany in the use of robots in industry, according to the Federation of Robotics. The Czech Republic has deteriorated in economic freedom, ranking 22nd in the world. The IMF chief expects weak growth and high debt in the medium term. Inflation accelerated to 2.6 percent in September, contributed to by rising food prices. Ifo: German companies have the fewest orders since the financial crisis 15 years ago. Inflation accelerated to 2.8 percent in October, analysts expect it to grow further. Brazilian authorities are preparing a crackdown on illegal gold miners in the Amazon. Analysts: The development of prices in agriculture points to the end of food cheapening. PAQ Research proposes a change in income tax, which it says would help low-income earners. Goldman Sachs has improved the outlook for the Chinese economy for this year and next. Today, the last time the CNB cash desks will be in operation in Pilsen, Ústí nad Labem and České Budějovice. The CNB plans to increase the share of stocks in foreign exchange reserves, strengthening the share of American ones. Analysts: Nobel laureates have shown the importance of institutions for prosperity. Analysts: The CNB will decide between reducing rates and maintaining their stability. Inflation in Britain fell to 1.7 percent in September, the lowest since spring 2021. The average wage of CNB employees will increase by 4.8 percent next year.

Stock Exchanges: Gold price exceeds $2,700 per troy ounce for the first time. Economist: Gold investors have made around 10 percent in real terms since Covid.

Finance: Survey: Two-thirds of the Czech population do not know what a long-term investment product is. The Czech National Bank has fined Fio Bank for violating the Anti-Money Laundering Act. EU auditors: Budget errors reached 5.6 percent, fraud persists. Genesis Growth Equity Fund I bought a majority stake in Slovak company TechPlasty. Boeing needs up to $35 billion, is struggling with production problems and strikes. Morgan Stanley bank increased quarterly profit by a third to $3.2 billion. The Russian Central Bank raised the base interest rate to a record 21 percent. Survey: Ten percent of Czechs cannot afford a mortgage. The Czech National Bank fined UniCredit Bank for not exchanging damaged banknotes. Survey: Three-quarters of Czechs prefer cashless payments when paying. Survey: Only 15 percent of people intend to spend more money on Christmas gifts than last year. Hypomonitor: The volume of mortgages in September fell by 8.1 billion to 24.2 billion CZK. The South Korean central bank cut interest rates for the first time in more than four years. Swedish payment company Klarna has filed for an initial public offering of shares in the US. The ECB has cut interest rates by a quarter of a percentage point, the deposit rate is at 3.25 percent. Buffett's investment firm continued to sell shares, holding record cash. Volkswagen's sales fell in the quarter, Moody's lowered the company's rating outlook. PPF will seek further acquisitions, including telecommunications, said director Šmejc. PPF sold Russia's PPF Life Insurance to the Inweasta group, Interfax reported today. The new head of HSBC is changing the corporate structure, the CFO will be a woman for the first time. The six largest banks in the Czech Republic saw their net profit rise by 11 percent this year to CZK 63.3 billion. The ECB warned of a bubble in stocks related to artificial intelligence. PPF Group's net profit fell by 10.6 percent to CZK 16 billion in the first half of the year.