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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: Dlouhý: Parameters of the anti-epidemic system will make business impossible. The German economy grew sharply, the government improved the outlook. The Moore CR group took over the Brno company Audit - Daně. CRIF: The number of corporate and business bankruptcies fell in October. 83 percent of companies felt the negative consequences of the epidemic, Ipsos found. Sales in services fell by 12 percent in the third quarter. Inflation in the EU rose slightly again, in the eurozone it fell again. The Polish central bank improved the outlook for the full-year GDP development. The US economy grew at a record pace of 33.1 percent in the quarter. Ministry of Education, Youth and Sports: The Czech Republic will gain access to one of the fastest computers in the world. The Kalashnikov concern has a new owner. Bisnode: 20,000 people started businesses with a trade license this year. Analysts: Lower unemployment is due to seasonality and government support. A record 314,000 people lost their jobs in Britain in the quarter. Year-on-year inflation in October is estimated to have fallen below three percent. The South Korean economy returned to growth in the third quarter. The Japanese economy emerged from recession, growing at its fastest pace since 1980.

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

Finance: Banks in Slovakia's profit fell by 37 pct to 313 million euros by September. Japan's SoftBank has a record profit thanks to asset sales. Allianz's quarterly profit surprisingly increased. Reuters: Spanish bank Santander to cut 4,000 jobs. Erste Group's profit falls by almost half. The Czech National Bank left interest rates unchanged and improved this year's GDP forecast. Moneta's net profit in three quarters fell by 38 percent to CZK 1.9 billion. Interest in EU bonds to address the impacts of the coronavirus crisis persists. RegioJet received a guarantee for loans worth CZK 375 million. UniCredit Bank in the Czech Republic and Slovakia saw its profit fall by 45 percent in three quarters. Raiffeisenbank's net profit fell by 53 percent this year to CZK 1.7 billion. Santander will take over the European activities of bankrupt Wirecard. ECB: Bank profits will remain weak for now, restructuring is needed. Société Générale, owner of Komerční banka, has a loss until September. HSBC's profit fell by 35 percent to USD 3.1 billion. Commerzbank is in a loss due to Covid and restructuring. A company from the Bohemia Energy group is buying the supplier Energie ČS. Banking Association: The share of non-performing loans is at a record low. Hypoteční banka: The mortgage market will reach a record 230 billion CZK this year. Goldman Sachs will employ more women in senior positions. Australia has reduced the base interest rate to a minimum due to the coronavirus. Household debts with banks increased to 1.831 trillion CZK in September. Zahálková is the new executive director of the Czech Banking Association. Banks are limiting branch opening hours due to the coronavirus. Partners has received a license from the Czech National Bank to operate a pension company. The profit of the four largest banks fell by 21.5 billion to 24.5 billion CZK. FSB Committee: JP Morgan is no longer the most important bank in the system.