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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: Euler Hermes: The number of insolvencies in the world in 2021 will increase by 31 percent. Analysts: The second wave of the pandemic has stopped the recovery from the 3rd quarter. The value of cryptocurrency mergers in the first half of the year exceeded the entire year of 2019. European Innovation Day will focus on technological talents. Sales in services fell by 12 percent in the third quarter. A record 314,000 people lost their jobs in the UK in the quarter. The Moore CR Group has taken over the Brno company Audit - Daně. The operation of BR Group is complicated by covid-19, but production is being ensured. CRIF: There are 24,000 companies in the Czech Republic that are unreliable in paying VAT. The growth of business activity in the eurozone has stopped due to the virus. Analysts: Czech industry performed best in September since February. China's economic growth accelerated to 4.9 percent in the third quarter. South Korea's economy returned to growth in the third quarter. Goldman Sachs predicts decline instead of growth for the eurozone. Survey: Most smaller companies in Europe have existential fears. Kalashnikov concern has a new owner. EU countries have not yet shown interest in the credit half of the crisis fund. Ministry of Education, Youth and Sports: The Czech Republic will gain access to one of the fastest computers in the world.

Stock exchanges: In 2021, the price per troy ounce of gold will not exceed USD 2,000 on average.

Finance: The Czech National Bank has worsened the outlook for public finances this year and next year. Association: Banks ready to help clients affected by the pandemic. Banks confirmed to the Ministry of Finance their readiness to deal with the postponement of repayments individually. Survey: The interest rate is the most important factor in a savings account. Bank of America's profit fell, Goldman Sachs almost doubled it. UniCredit Bank's profit in the Czech Republic and Slovakia fell by 45 percent in three quarters. Morgan Stanley bank significantly increased its profit thanks to trading. Schillerová: The Ministry of Finance will not propose another blanket deferral of loan repayments. The banking association estimates that the economy will fall by eight percent this year. Komerční banka's profit fell by 45 percent in three quarters to CZK 6.1 billion. S&P surprisingly improved the outlook for Italy's credit rating. Société Générale, the owner of Komerční banka, has a loss until September. Deutsche Bank surprisingly returned to profit in the quarter. Banking association: The share of non-performing loans is at a record low. Bank loans fell by CZK 120 billion in September to CZK 6.07 trillion. Allianz insurance company's quarterly profit surprisingly increased. BBC: Visa and Mastercard face accusations of excessive fees. Australia has reduced the base interest rate to a minimum due to coronavirus. Banks: Customers are visiting branches less, interest in online services is growing. Analyst: The price of gold will be 2.5 times higher by the end of the decade. Almost two-thirds of Czechs actively use modern payment methods. According to estimates, the Czech National Bank will leave interest rates unchanged on Thursday. Banks are limiting branch opening hours due to coronavirus. The Russian Central Bank has improved its estimate of this year's economic development. Credit card issuer American Express's profit fell sharply. Hypoindex: The average mortgage rate in September fell for the sixth time in a row.