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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: Inflation in the EU rose slightly again, in the eurozone it fell again. IMF: The global economy is recovering, but may lose momentum. Sales in services fell by 12 percent in the third quarter. Business activity in the eurozone fell sharply due to lockdowns. Prices in Japan fell the most in a decade, deflation is at risk. According to analysts, inflation will remain below three percent for the rest of the year. A record number of companies specializing in acquisitions have entered the stock market. According to Berlin, Europe must maintain data independence. CRIF: The fewest companies will be created in the Czech Republic this year since 2014. 83 percent of companies felt the negative consequences of the epidemic, Ipsos found. Large companies are likely to cut dividends this year by the most since 2009. Bain: Sales of luxury goods will fall to a record low this year. Kalashnikov concern has a new owner. Scientists from Mendel University will analyze tax evasion. Survey: Companies are coping with the second wave of the pandemic better than the first. European Innovation Day will focus on technological talents. Analysts: Czech industry performed best in September since February. CRIF: The number of corporate and business bankruptcies fell in October. A record 314,000 people lost their jobs in Britain in the quarter.

Stock exchanges: Bloomberg: Canadian company wants to mine "green" gold in Iceland.

Finance: Euler Hermes: The pandemic negatively affected 54 percent of European companies. The four largest banks' profit fell by 21.5 billion to 24.5 billion CZK. In an alternative estimate, the Czech National Bank expects GDP to decline next year as well. According to the Czech National Bank, the banking sector has maintained its resilience even during the pandemic. ECB: Bank profits will remain weak for now, restructuring is needed. Partners received a license from the Czech National Bank to operate a pension company. Survey: 16 percent of Czechs do not know a single investment product. Buffett sold part of Apple shares and invested in pharmaceuticals. ČSOB's net profit fell by 57 percent this year to 6.3 billion CZK. Survey: Czechs are behaving increasingly responsibly in relation to loans. The Turkish Central Bank significantly increased the base interest rate. RegioJet received a loan guarantee of 375 million CZK. The Czech National Bank worsened the outlook for public finances this year and next year. Golden Gate CZ's revenue increased by 110 percent to three billion CZK. Komerční banka's profit fell by 45 percent to 6.1 billion CZK in three quarters. Experts: The Czech National Bank has indicated that it is not afraid of further growth in real estate prices. Hypoindex: The average mortgage rate in October fell for the seventh time in a row. Provident: More clients now need to borrow for current expenses. Raiffeisenbank's net profit fell by 53 percent this year to 1.7 billion CZK. Allianz's quarterly profit surprisingly increased. Société Générale, the owner of Komerční banka, has a loss until September. Commerzbank has fallen into a loss due to Covid and restructuring. Reuters: Spanish bank Santander will cut 4,000 jobs. FSB Committee: JP Morgan is no longer the most systemically important bank. The value of banknotes and coins in circulation exceeded 700 billion CZK for the first time.