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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: Unemployment in the EU remained at 5.9 percent in June, among the lowest in the Czech Republic. Inflation in Britain slowed to 7.9 percent in June, a weaker decline was expected. Inflation in Slovakia fell to 10.8 percent in June, the lowest in more than a year. Survey: Clients asked 80 percent of companies to extend the invoice payment period. MPs already have a government package on their tables, a debate is possible from July 11. AI will be the biggest bubble of all time, believes the director of Stability AI. Analysis: Investments in artificial intelligence are falling in Europe, while they are growing significantly in the US. Analysts: The development of Czech industry is very uncertain in the coming months. OECD warns of negative impacts of massive use of artificial intelligence. Analysts: Inflation is falling due to the comparative base, its decline will slow down. Goldman Sachs: In addition to China, India may overtake the US economy by 2075. Czech national debt exceeded the three trillion crown mark for the first time in the first half of the year. Markets are probably not estimating the start of rate cuts correctly, says a member of the CNB board. WIIW: Central and Eastern Europe needs a new economic model. Survey: Economic activity in the eurozone is weakening faster than expected. Singer: The reason for the lack of growth of the Czech economy is also its connection with Germany. The US economy surprisingly accelerated growth to 2.4 percent in the second quarter. Inflation in Germany resumed its decline in July, falling to 6.5 percent.

Stock exchanges: Bloomberg: Interest in solar panels is limiting the supply of silver. Bloomberg: Exxon in talks with Tesla, VW and other automakers about lithium supplies.

Finance: Turkey to limit credit card use, wants to reduce foreign exchange outflows. A supporter of the euro has defended his seat as governor of the Bulgarian central bank. WSJ: Europeans are facing a new reality they haven't experienced in decades - they are getting poorer. Interest rate hikes have cost British households more than two trillion pounds. Reuters: SoftBank is considering listing its PayPay payment division on the US stock market. The number of currency exchange offices in the Czech Republic has been declining for a long time, with six more leaving the market last year. CNBC has ranked Czech company Spendee among the world's 200 best fintech companies. Survey: Czechs continue to shift savings from current accounts to savings accounts. Allianz Trade still expects the global economy to recover in the middle of next year. Hypoindex: The average mortgage rate fell to 6.24 percent in early July. Most EU banks would be able to handle a sharp economic downturn, according to the stress test. The Russian central bank raised the base interest rate to 8.50 percent, surprising the market. UBS will pay a fine of 388 million USD due to Credit Suisse's misconduct in the Archegos case. Renáta Kellnerová wants to prepare children to take over the baton in the PPF group. Raiffeisenbank's net profit fell by 21 percent in the first half of the year to 2.37 billion CZK. The Japanese central bank surprisingly changed its yield curve management policy. Česká spořitelna's profit fell by 16 percent in the first half of the year to 9.3 billion CZK. Broker Consulting's revenues grew by 5.7 percent last year to 2.8 billion CZK. The Australian central bank will be led by a woman for the first time. Turkey raised interest rates again, the base rate rose to 17.5 percent. Pan Gongsheng was appointed the new governor of the Chinese central bank. UN: Global public debt rose to a record 92 trillion USD last year. Deutsche Bank's quarterly profit fell by 27 percent, but exceeded expectations. Czechoslovak Group issued bonds for 4.5 billion CZK, half more than planned. Sberbank reported a record profit of 380.3 billion rubles for the quarter.