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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: The Nobel Prizes for Science will be awarded on Monday, APA has 22 favorites. Analysis: Trade between Britain and the EU has fallen by more than a quarter in the last three years. Inflation in the US fell to 2.5 percent in August, the lowest in three and a half years. Czech society has become richer in 35 years, but it has also become more comfortable, said Petr Doškář from the Ministry of Industry and Trade. Reuters: The German economy will fall again this year, leading economic institutes expect. Inflation accelerated to 2.6 percent in September, contributed to by rising food prices. The Czech National Bank has cut its interest rate to 4.25 percent, a decision made by six board members. Analysts: The recovery in consumption is gradual, due to concerns about economic developments. The number of hundred-millionaires has increased by 54 percent in ten years, most in China and the USA. Inflation in the USA slowed to 2.4 percent in September, a more significant decline was expected. Business activity in the eurozone unexpectedly fell in September, Germany is facing a recession. CNB: The balance of payments ended the second quarter with a deficit of CZK 3.7 billion. SAP: The introduction of AI would increase the value of domestic companies by an average of 16 percent. Analysis: 4,088 entrepreneurs went bankrupt in the Czech Republic this year, seven percent more year-on-year. Analysts: Plant-wide holidays at car factories were behind the August growth in industry. Retailers' sales accelerated in July, but according to analysts, growth was still slow. The Japanese economy grew at a rate of 2.9 percent in the second quarter, more was expected. The number of corporate bankruptcies in Germany increased by almost a quarter in the first half of the year. Poles are upset that Draghi did not speak to them when writing the report on Europe's lagging behind. Prices in industry and construction rose in August, while in agriculture they fell again. Analysis: The share of companies in the Czech Republic that use a virtual headquarters has risen to 25 percent. Saudi oil revenues will fall more than expected this decade, the IMF says. Analysis: The number of corporate bankruptcies has risen by nine percent this year to 524.

Stock markets: Thyssenkrupp is reconsidering plans to produce so-called green steel. Rio Tinto to buy Arcadium for $6.7 billion, becoming a key lithium miner. Silver has climbed to a 12-year high, gold is also breaking records. Mining giant Rio Tinto is in talks to take over lithium miner Arcadium. The platinum market is likely to post its biggest deficit in ten years this year.

Finance: Survey: The share of Czechs who save over CZK 5,000 per month has risen to 27 percent. Air Bank Group's net profit rose by five percent in the first half of the year to CZK 1.3 billion. Analysts: Floods in Central Europe may cause losses of up to billions of euros. CNB: Banks' net profit rose by eight percent in the first half of the year to CZK 59.9 billion. Jet Investment Group sold the Třebíč-based Tedom Group to the Japanese Yanmar Group. Survey: Almost 70 percent of Czech adults save for retirement in some way. Analysts: The price of gold, which has been breaking records this year, is likely to continue to rise. The Fed has cut the base interest rate by half a point to a range of 4.75 to 5.00 percent. IMF agrees with Ukraine to release another $1.1 billion. MF: Number of new building savings contracts increased by 4.1 pct in the first half of the year. UniCredit bought more Commerzbank shares, may become the largest shareholder. China's central bank introduces the largest measure to support the economy since the pandemic. Hypoindex: Average mortgage rate fell by 0.04 points in September to 5.38 percent. Raiffeisen Bank shares weaken after shares of its branch were frozen in Russia. China's central bank has cut interest rates, will consider further support by the end of the year. Russia's central bank has increased the base rate by one percentage point to 19 percent. Survey: 14 percent of Czechs have no financial reserves.