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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: Ifo: German companies have the fewest orders since the financial crisis 15 years ago. Study: Thanks to production at Třinecké železárny, the state has earned CZK 54 billion in 14 years. SB: China's economic growth will continue to slow down next year. Inflation accelerated to 2.6 percent in September, contributed to by rising food prices. China has invested over USD 100 billion in clean energy abroad since 2023. The Czech National Bank plans to increase the share of stocks in foreign exchange reserves, strengthening the share of American stocks. The Prague company of the year is the switchboard manufacturer Conteg, the sole proprietor of the goldsmith Polová. Czech society has become richer in 35 years, but also more comfortable, said Petr Doškář from the Ministry of Industry and Trade. Goldman Sachs bank improved the outlook for the Chinese economy for this year and next. The Czech National Bank has published the results of three external audits of its monetary policy model. Analysts: Agricultural price developments point to the end of food price cuts. Today will be the last day for the Czech National Bank cash desks in Pilsen, Ústí nad Labem and České Budějovice to be open. The Nobel Prizes for Science will be awarded on Monday, APA has 22 favorites. Analysts: August industrial growth was due to factory-wide holidays at car factories. Inflation in Hungary accelerated to 3.2 percent, remaining above the central bank's target. Analysts expect year-on-year inflation to accelerate in September due to the comparative base. Inflation in the US slowed to 2.4 percent in September, a more significant decline was expected. Inflation in Turkey fell below 50 percent in September for the first time in more than a year. Brazilian authorities are preparing a crackdown on illegal gold miners in the Amazon. Analysis: The number of corporate bankruptcies has risen by nine percent this year to 524.

Stock markets: Mining giant Rio Tinto is in talks to take over lithium miner Arcadium. The price of gold has exceeded $2,700 per troy ounce for the first time. Among commodities on the markets this year, cocoa, coffee and gold are rising in price, while corn is falling in price. Rio Tinto will buy Arcadium for $6.7 billion, becoming a key lithium miner. Thyssenkrupp is reconsidering plans to produce so-called green steel.

Finance: The British central bank has cut its base interest rate to 4.75 percent, as expected. Survey: Two-thirds of the Czech population do not know what a long-term investment product is. Genesis Growth Equity Fund I bought a majority stake in the Slovak company TechPlasty. Pressure is growing in the ECB to further reduce interest rates, Slovak governor Kažimír is against it. The Czech National Bank is preparing to sell the branch building in Ústí nad Labem. Survey: The share of Czechs who save over CZK 5,000 per month has risen to 27 percent. According to the head of the City, London has lost 40,000 jobs in the financial sector due to Brexit. The largest Norwegian bank DNB will take over the Swedish investment bank Carnegie. The South Korean central bank has cut interest rates for the first time in more than four years. The new head of HSBC is changing the corporate structure, the CFO will be a woman for the first time. Quarterly profits of Bank of America and Citigroup fell, Goldman Sachs earned more. PPF Group's net profit fell by 10.6 percent in the first half of the year to CZK 16 billion. Moneta's net profit for the three quarters increased by 6.6 percent year-on-year to CZK 4.2 billion. The Russian Central Bank has raised the base interest rate to a record 21 percent. Hypomonitor: The volume of mortgages in September fell by 8.1 billion to 24.2 billion CZK. The ECB has cut interest rates by a quarter of a percentage point, the deposit rate is at 3.25 percent. Boeing needs up to 35 billion USD, is struggling with production problems and strikes. Survey: Czechs prefer real estate investments, followed by savings accounts. Komerční banka increased its net profit by 0.9 percent to 12.64 billion CZK in three quarters. The six largest banks in the Czech Republic have increased their net profit by 11 percent to 63.3 billion CZK this year.