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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: June inflation cut to CNB target is surprising, koruna weakens. CNB cuts interest rate to 4.5 percent, worsens economic outlook. Slovakia's trade surplus in May was at this year's low of 367 million euros. Study: 342 companies went bankrupt in the Czech Republic in the first half of the year, four more than a year ago. CNB: Czech household debts to banks rose to 2.293 trillion CZK in May. Germany still faces gas shortage amid extreme cold, warns INES association. Goldman Sachs analysts have increased the probability of a recession in the US to 25 percent. The volume of wealth per person increased the most in Turkey, despite inflation. The Czech Republic's foreign trade showed a surplus of CZK 29.3 billion in June, up year-on-year. Analysts: The June slump in construction points to a major problem in the sector. Analysts: Sales in stores in June exceeded market estimates, but recovery is gradual. Satisfaction with the standard of living of households is greater than with the country's economic situation. Analysts: The June foreign trade surplus significantly exceeded market estimates. Analysts expect June inflation to be close to May's 2.6 percent. China's economic growth slowed in the second quarter, falling short of analysts' estimates. Analysts: The global IT system outage dealt another blow to supply chains. Unemployment remained at 3.6 percent in June, analysts expect gradual growth.

Stock exchanges: The price of gold is at a record high, reaching above 2482 USD per troy ounce this morning. The Ball Aerosol aluminum packaging manufacturer in Velim saw its profit rise to 566 million CZK last year. The verification unit for manganese extraction at Chvaletic is in continuous operation. Robusta coffee beans have risen in price by 60 percent since the beginning of the year to 4625 USD per ton.

Finance: Buffett's Berkshire Hathaway increased its profit by 15 percent to 11.6 billion USD. The Chinese central bank surprisingly lowered its base interest rate to 1.70 percent. The Russian central bank increased its base interest rate by two percentage points to 18 percent. The J&T Arch fund became the second largest shareholder of Tatra mountain resorts. According to its boss, the Fed needs more evidence of a decline in inflation before it cuts interest rates. Index: The average Czech investor in funds earned 5.7 percent in the first half of the year. Bain Capital will buy financial software supplier Envestnet for USD 4.5 billion. According to its boss, the Polish central bank will cut interest rates again in 2026 at the earliest. Moneta Bank's net profit in the first half of the year rose by 9.1 percent to CZK 2.7 billion. Russia's largest bank Sberbank increased its profit in the first half of the year. Commodity prices on the markets increased in the first half of the year, the index added three percent. Survey: 55 percent of people in the Czech Republic manage to save regularly, more than a year ago. KB signed a memorandum aimed at buying out the remaining stake in SGEF CR.. Morgan Stanley increased its profit by 41 percent, but Bank of America's profit fell. Banks provided mortgages worth CZK 24.2 billion in June, the most since March 2022. Creditas Bank acquired more than 50 percent stake in NEY Savings Cooperative. US bank Goldman Sachs more than doubled its profit in the second quarter. China cut another key interest rate in an effort to support the economy. A third of central banks intend to increase gold reserves in the next 12 months. Česká spořitelna's net profit increased by a third to CZK 12.4 billion in the first half of the year. The ECB, as expected, left the base interest rate at 4.25 percent. Sky News: Who will pay for the worst IT outage in the world?. The global outage affected 8.5 million Windows devices, Microsoft estimated. US banks passed the Fed's stress tests, they would survive even a sharp decline in real estate.