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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: Think-thank IDEA proposed a tax change that is more budget-friendly. A record 314,000 people lost their jobs in the UK in the quarter. Ministry of Education, Youth and Sports: The Czech Republic will gain access to one of the fastest computers in the world. Moore CR Group took over the Brno-based company Audit - Daně. Unemployment fell to 3.7 percent, but growth is expected by the end of the year. Year-on-year inflation in October is estimated to have fallen below three percent. The growth of business activity in the eurozone has stopped due to the virus. Business activity in the eurozone has fallen sharply due to the closures. Sales in services fell by 12 percent in the third quarter. Goldman Sachs predicts a decline instead of growth for the eurozone. 5,502 applications for 2.5 billion CZK were submitted for the COVID accommodation program. 83% of companies have felt the negative consequences of the epidemic, Ipsos found. European Innovation Day will focus on technological talents. Dlouhý: Parameters of the anti-epidemic system will make business impossible. Analysts: Lower unemployment is due to the season and government support. The foreign trade surplus rose year-on-year to CZK 34.4 billion. The Japanese economy has emerged from recession, growing the most since 1980. Inflation in the EU has risen slightly again, in the eurozone it has fallen again.

Stock markets: Gold miner Endeavour will buy competitor Terango for USD 2 billion.

Finance: UniCredit Bank in the Czech Republic and Slovakia has seen its profit fall by 45% in three quarters. Société Générale, owner of Komerční banka, has a loss until September. Association: Non-bank companies provided 18 pct. less money this year. Banks began to individually solve repayment problems with clients. Japan's SoftBank has a record profit thanks to the sale of assets. Buffett sold part of Apple shares and invested in pharmaceuticals. Santander will take over the European activities of bankrupt Wirecard. Analysis: You can pay up to 95,000 more for an annual loan of 50,000 CZK. Allianz's quarterly profit surprisingly increased. Banking Association: The share of non-performing loans is at a record low. Euler Hermes: The pandemic negatively affected 54 pct of European companies. Bank loans fell by 120 billion in September to 6.07 trillion CZK. PPF Group plunged into a loss of 10.32 billion CZK in the first half of the year. Partners: Average October performance of mutual funds was negative. RegioJet received a loan guarantee of 375 million crowns. In an alternative estimate, the Czech National Bank expects GDP to decline next year as well. The value of banknotes and coins in circulation exceeded 700 billion CZK for the first time. CNB note: There is no immediate reason to change the rate setting. FSB Committee: JP Morgan is no longer the most important bank in the system. Interest in EU bonds to address the impacts of the coronavirus crisis persists. Schillerová: The Ministry of Finance will not propose another blanket moratorium on loan repayments. According to estimates, the Czech National Bank will leave interest rates unchanged on Thursday. Raiffeisenbank's net profit fell by 53 percent this year to 1.7 billion CZK. Banks are reducing branch opening hours due to coronavirus. Commerzbank has incurred losses due to Covid and restructuring. Partners has obtained a license from the Czech National Bank to operate a pension company.