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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: ČNB is examining the announcement of the Ministry of Finance about the proposal to pay a higher dividend for ČEZ shares. Analysis: Inflation in Europe will peak in the second quarter. Scholz: The EU will decide on the ban on the import of Russian gold, participation in the G20 is open. The ČNB left the limits for mortgages and the credit market protection rate unchanged. The inflation rate in the eurozone in May rose to a record 8.1 percent. Russia paid off its debt early today to avoid insolvency. Reuters: Musk told managers that Tesla must lay off ten percent of its people. Ukraine has more than doubled the base interest rate to 25 percent. Komerční banka was fined CZK 7.5 million by the ČNB for violating mortgage rules. The IMF is likely to further worsen the outlook for global growth this year next month. In the Czech Republic, 51 bankruptcies were declared in May, seven fewer than in April. The Czech National Bank intervened today to counter the weakening of the koruna, which strengthened below CZK 25 per euro. May inflation was 1.1 percentage points higher than the Czech National Bank estimated. About 3,000 businesses have already failed in Poland this year, the most in five years. The economy grew by 4.8 percent in the first quarter, the rest of the year will be worse. Analysis: The negative real yield on bank deposits will not change even if the Czech National Bank increases rates. The ECB will end asset purchases at the end of June, leaving the base rate at zero for now. The Polish central bank has raised the base rate to six percent. Bloomberg: The US economy could surpass China in growth this year for the first time since 1976. Analysis: 91 percent of companies did not publish their financial statements for last year on time. IIF: Global debt rose to a record $305 trillion in the first quarter. Commodity prices are rising, food prices have increased by tens of percent this year, oil by half. Starting next year, it will not be necessary to know the recipient's account number to send money. Shares in Budapest are falling after the announcement of an extraordinary tax, especially banks. According to the association, including heating plants in the sectoral tax would jeopardize their modernization. BBC: A gathering of the Russian elite is taking place in St. Petersburg against the backdrop of the war against Ukraine. The České Budějovice bishopric has deepened its loss, which is due to repairs to monuments. Inflation in Slovakia has accelerated to 11.8 percent, the highest since June 2000. The association: The current crisis can strengthen Europe, it should not disrupt functioning systems. Dun & Bradstreet: In most countries of the world, corporate bankruptcies decreased last year. Note: The Czech National Bank Council agreed that the war changed the structure of inflationary pressures. The World Bank's chief economist doubts that a global recession can be avoided. The volume of debt collection agencies' receivables fell by 150 million to 21.05 billion CZK last year. Growth in business activity in the eurozone slowed in May, but remains strong. Prognos: Disruption of Russian gas supplies would plunge the German economy into recession.

Stock exchanges: Citigroup: Oil will be more expensive this year and next year, contrary to original assumptions. Russia's share in the largest platinum project in Zimbabwe is deterring investors.

Finance: People from banks and technology companies are more likely to leave for fintech start-ups. The Czech National Bank fined the Czech Post Office half a million crowns for investment services. Šmejc: As head of the PPF group, I am more willing to connect with partners in transactions. Kooperativa and Česká podnikatelská pojišťovna became the insurance companies of the year. French bank BNP Paribas is interested in Dutch ABN Amro, writes Reuters. Deutsche Bank will stop issuing cash over the counter in most branches. PayPal will allow cryptocurrencies to be transferred to external wallets. The head of German DWS will resign, authorities suspect her of deceiving investors.