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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: Bloomberg: Putin's economic forum shows Russia's deepening isolation. Construction continues to decline, industry grows thanks to cars, trade is in surplus. Budget deficit widened to a record 271.4 billion crowns in May. Analysis: Investments in artificial intelligence are declining in Europe, growing significantly in the US. China's central bank surprisingly lowered the key interest rate to 1.90 percent. MPs already have a government package on their tables, a debate is possible from July 11. Analysts: The development of Czech industry is very uncertain in the coming months. The Czech National Bank will begin issuing commemorative coins with motifs of state institutions. Chamber: Cutting excessive bureaucracy for entrepreneurs is ineffective. Analysts: The labor market remains overheated, the economic slowdown has not been reflected. Unemployment fell further to 3.4 percent in June, the labor market remains overheated. Kooperativa insurance company paid the most in corporate income tax last year. Survey: 73 percent of people believe they will have to reduce their expenses in retirement. Analysts were surprised by the increase in food prices, they are concerned about inflation next year. Study: In the first half of the year, the number of bankruptcies of companies and entrepreneurs decreased year-on-year. Study: The average wage in the Czech Republic in euros increased by 9.8 percent this year to 1,683 euros. Zlín police accused nine people and 14 companies of tax evasion after a raid on Tuesday. CVVM: Inflation is perceived as unacceptable by the most people in the past 30 years. OECD warns of the negative impacts of the massive use of artificial intelligence. The CNB has been less adept at following the recommendations of its apparatus under Michl, analysts say. Inflation in Slovakia fell to 10.8 percent in June, the lowest in more than a year. The state collected CZK 644.3 billion in taxes in the first half of the year, 12.5 percent more than last year. Media: The head of the French luxury goods company LVMH is preparing to go to China.

Stock exchanges: The Geomet company has acquired land for a lithium processing plant from Cínovec. The Ministry of the Environment has returned the documentation of the impacts of manganese mining near Chvaletici for revision. China and Russia are investing $1.4 billion in lithium mines in Bolivia. 12 people died in a gold mine in Venezuela, which was officially closed long ago.

Finance: Bit.plus: The volume of cryptocurrency trades fell by a tenth in May. Index: The average Czech investor in funds earned 5.7 percent in the first half of the year. The financial literacy of Czechs has not changed according to the Czech Banking Association index. Bloomberg: Big banks are using artificial intelligence to transform the world of finance. Analysis: The commodity index fell by a tenth in the first half of the year, with the exceptions of sugar and gold. The largest Swiss bank UBS has completed the takeover of rival Credit Suisse. The earnings of London investment bankers fell last year due to lower bonuses. Hypomonitor: The volume of mortgages in June was the highest since the summer of 2022, rates fell. The Australian central bank will be led by a woman for the first time. Goldman Sachs has a 62 percent lower profit due to write-offs and lower trading volume. Financial crime with the disbursement of EU funds is growing, says the head of European prosecutors. According to the governor, the Polish central bank could cut interest rates in September. JPMorgan increased its profit by 67 percent, Wells Fargo also has a higher profit, Citi's profit fell. Analysts: The reluctance to accept card payments may be due to an attempt to reduce taxes. Turkey raised interest rates again, the base rate rose to 17.5 percent. The government in Berlin sees the German army as a pillar of European conventional defense. Bern will help UBS with its problems with Credit Suisse with up to nine billion francs. Banks block cryptocurrency exchange Binance from accessing the US banking system.