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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: Analysts: The August deterioration in sentiment among companies and consumers is disappointing. PwC: The number of mergers and acquisitions in the Czech Republic was the lowest in six years in the first half of the year. Analysis: The purchasing power of Eastern European countries is gradually catching up with the West. Analysts: June's foreign trade surplus significantly exceeded market estimates. Survey: The heads of the largest British companies have record incomes last year. Analysts: Retail sales in June exceeded market estimates, but the recovery is gradual. Sales in services continue to grow, increasing by 2.5 percent year-on-year in the second quarter. The volume of wealth per person increased the most in Turkey, despite inflation. Deloitte survey: Companies use AI in customer service or marketing. Sentix: Investor confidence in the eurozone economy fell again, the lowest since January. Inflation in the US was the lowest in more than three years in July. State debt rose by 96.2 billion crowns in the first half of the year to 3.207 trillion crowns. CZSO: Industry and construction continued to decline year-on-year in June, trade remained in the black. CNB lowered the interest rate to 4.5 percent, worsening the economic outlook. Inflation in China surprisingly accelerated to 0.5 percent, producer prices are falling. Study: 400 entrepreneurs went bankrupt in July, the least this year. Inflation in the Czech Republic accelerated to 2.2 percent in July, making it the 15th lowest in Europe. Analysts: Global IT system outage dealt another blow to supply chains. Czech industry continues to decline, falling by 3.4 percent year-on-year in June.

Stock exchanges: The price of gold has exceeded $2,500 per troy ounce for the first time in history. BHP and Ludnin are buying copper miner Filo for 4.5 billion Canadian dollars. The price of gold is at a record high, reaching above $2,482 per troy ounce this morning. Oil prices closed at their lowest levels since mid-June.

Finance: The net profit of the ČSOB group in the first half of the year rose by two percent to CZK 9.5 billion. KB signed a memorandum aimed at buying out the remaining stake in SGEF CR.. Among commodities on the markets this year, gold and cocoa have become more expensive, while cotton and wheat have become cheaper. The time has come to cut interest rates, said the head of the US central bank. Komerční banka's profit fell by more than a fifth to CZK 6.3 billion in the first half of the year. Investors will buy back some of Revolut's shares, valuing the company at $45 billion. FT: The shipyard that built the Titanic is fighting for survival; it is an emergency loan. Morgan Stanley increased its profit by 41 percent, but Bank of America's profit fell. Index: Mutual funds generally continued to make investors earn in July. China reduced another key interest rate in an effort to support the economy. Czech banks were not affected by the outage, and the stock market and nuclear power plants were also unaffected. Analysts: New mortgage rules may not make early repayments more expensive. Reuters: More and more ECB officials are leaning towards a September interest rate cut. China's central bank surprisingly lowered the base rate to 1.70 percent. UniCredit Bank: The disadvantage of investing in residential real estate has decreased. UniCredit Bank: Wealth is concentrated in men's accounts. The Czech National Bank fined Fondee CZK 1.8 million for service errors. Banks provided mortgages worth CZK 23.8 billion in July, up 109 percent year-on-year. Moneta Bank's net profit in the first half of the year rose by 9.1 percent to CZK 2.7 billion. Hungary's central bank has suspended interest rate cuts. Fitch downgrades Israel's rating due to increased tensions in the Middle East. The market value of Buffett's Berkshire exceeded a trillion dollars.