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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: The value of cryptocurrency mergers in the first half of the year exceeded that of the entire year of 2019. Analysts: The second wave of the pandemic stopped the recovery from the third quarter. The US economy grew at a record pace of 33.1 percent in the quarter. Survey: Most smaller companies in Europe have existential fears. The Chinese boosted the domestic economy during the holiday week. Economists: Auctions are common thanks to the new Nobel laureates. Bloomberg: The virus has dragged a record number of large companies into losses in the US. Goldman Sachs predicts a decline instead of growth for the eurozone. Americans Milgrom and Wilson won the Nobel Prize in Economics. The South Korean economy returned to growth in the third quarter. According to institutes, the recovery of the German economy is slowing. The German economy grew sharply, the government improved its outlook. SB: Coronavirus could push 150 million people into extreme poverty. Switzerland has improved its outlook for this year's economic development. According to analysts, inflation will continue to fall. Ministry of Education, Youth and Sports: The Czech Republic will gain access to one of the world's fastest computers.

Stock exchanges: Polyus has the world's largest gold deposit in Siberia. Metal processor Saker's sales fell to CZK 2.321 billion last year. The US is imposing tariffs on aluminum sheets from 18 countries.

Finance: ČBA: Banks see no reason to renew the deferral of loan repayments. The Russian Central Bank has improved its estimate of this year's economic development. World central banks are preparing their own digital currencies. The Czech National Bank has revoked the license of the Prague currency exchange Changer. S&P surprisingly improved the outlook for Italy's credit rating. Almost two-thirds of Czechs actively use modern payment methods. Bank of America's profit fell, Goldman Sachs almost doubled it. Erste Group's profit fell by almost half. The British central bank is considering negative interest rates. Hypoindex: The average mortgage rate in September fell for the sixth time in a row. IMF: Africa needs 1.2 trillion USD to overcome the impacts of Covid. Bubenik Partners: Changes in company management take into account current developments. Central banks are appealing to governments to continue pumping money. Bank loans fell by 120 billion to 6.07 trillion CZK in September. BBC: Visa and Mastercard face accusations of excessive fees. Most funds have lost money this year, stocks by an average of four percent. The World Bank will give 12 billion USD for a vaccine for developing countries. Banks are limiting branch opening hours due to coronavirus. UN: Foreign direct investment fell by 49 percent in the first half of the year. Loan provider Zonky became part of Air Bank. Household debt with banks rose to 1.831 trillion crowns in September. Morgan Stanley buys asset manager Eaton Vance for seven billion USD. The largest Saudi Arabian bank will strengthen its position by taking over a competitor. Credit card issuer American Express has seen a sharp drop in profit. HN: ČSOB will eliminate 170 jobs at branches. The largest Russian bank Sberbank has sharply increased its quarterly profit.