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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: Unions consider new tax an open attack on mining and energy companies. Study: In October, the number of corporate bankruptcies fell, while business bankruptcies rose. Unemployment in the Czech Republic remained at 3.5 percent in October, and is likely to rise in the coming months. The Śląskie engineering plant was named South Moravian Company of the Year, with a blacksmith as the sole proprietor. Inflation in the eurozone was another record high in October, rising to 10.7 percent. Survey: One in four Europeans say their financial situation is uncertain. Nobel Prize laureates have pointed to the fragility of banks and the need for regulation. According to the central bank, the German economy is probably on the verge of recession. Inflation rose to 18 percent in September, and according to the Czech National Bank and analysts, it is nearing its peak. KFC and McDonald's in the Czech Republic have increased their prices this year, with a cheeseburger increasing in price by a fifth. Economists: The Eurozone is facing a significant economic recession, and recovery will be slow. The Polish central bank has left the base interest rate at 6.75 percent. Economists: The budget deficit will be significantly over CZK 300 billion next year. Survey: Almost half of Poles intend to limit spending on Christmas gifts this year. Putin should have come to confront us, Sunak told G20 leaders. Analysts have doubts whether the so-called windfall tax will yield the expected CZK 85 billion. Beijing is delaying the publication of data on economic development at the time of the Communist Party Congress. Michl: The base interest rate is already at a level that dampens economic activity. The Norwegian central bank has raised the base rate again, the highest since 2009. Shell has not yet paid the windfall tax in Britain, it will legally avoid it. The British finance minister promises that he will be able to restore the confidence of financial markets. Unemployment in Slovakia has fallen to a more than two-year low of 5.90 percent. Confidence in the economy increased slightly in November, entrepreneurs remain pessimistic Special instructions: In paragraphs 1, 4 and 5 we have added the opinions of analysts, in paragraphs 6 to 9 additional information from the survey. The Confederation of German Industry has called for a postponement of global corporate taxation by a year. Pirates will not propose a windfall tax for this year. The Czech National Bank has worsened its estimate of the development of the Czech economy, predicting inflation of 15.8 percent. Prime Minister: EC will not allow unilateral preferential treatment of German industry. The Washington Post: Labor productivity in the US has fallen and no one knows exactly why. Síkela: There is enough money for energy transformation, countries must focus on projects. The IMF has downgraded the growth estimate for the Czech economy for this year to 1.9 percent. In September, 53 corporate bankruptcies were declared in the Czech Republic, the third lowest number this year. The New Zealand central bank raised the base interest rate, warned of a recession.

Stock exchanges: Russian aluminum producer Rusal has added business contracts for next year. Germany has called for a suspension of the development of deep-sea mining due to environmental concerns. Saker, a metal processing company, saw significant sales and profits increase last year. The price of gas for the European market fell below 100 euros per MWh for the first time since June.

Finance: Societe Generale's quarterly profit fell but beat expectations. Home Credit sells assets in the Philippines and Indonesia for almost CZK 15 billion. Buffett's Berkshire bought a stake in Taiwanese chipmaker TSMC. Komerční banka shareholders approved a dividend of CZK 55.50 per share before taxes. Survey: Czechs keep less and less cash at home. Buffett's Berkshire increased its stakes in five Japanese trading companies. Hungary is close to billions from the EU budget, according to the minister, it has complied with Brussels. Komerční banka shareholders will decide on the dividend from November 6 to 21. Swiss Credit Suisse is working on a possible capital increase, according to sources.