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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: Confidence in the German economy has deteriorated due to the virus and Brexit. The Chinese have boosted their 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. Year-on-year inflation fell to 3.2 percent in September, and it will probably continue to fall. Analysts: Industry was unpleasantly surprised, September should be better. According to institutes, the recovery of the German economy is slowing. Analysts: The second wave of the pandemic has stopped the recovery from the third quarter. Euler Hermes: The number of insolvencies in the world will increase by 31 percent in 2021. Reuters: Interest in special EU bonds is at a record high. China's economic growth accelerated to 4.9 percent in the third quarter. Epiq: The number of corporate bankruptcies in the US has increased by a third so far this year. EU countries have not yet shown interest in the credit half of the crisis fund. Americans Milgrom and Wilson won the Nobel Prize in Economics. Survey: Half of smaller companies will have to cut costs. Moravian-Silesian companies do not plan to close operations due to coronavirus. South Korean economy returned to growth in the third quarter.

Stock markets: US introduces tariffs on aluminum sheets from 18 countries. World Gold Council: Demand for gold is the weakest in 11 years.

Finance: US bank Citigroup must pay a fine of $400 million. Spanish central bank: strict quarantine will worsen the expected crisis. World Bank to give $12 billion for vaccine for developing countries. Credit card issuer American Express's profit plummets. Association: Banks ready to help clients affected by pandemic. Switzerland's largest bank UBS doubled quarterly profit. Deutsche Bank surprisingly returned to profit in the quarter. Moneta's net profit for three quarters fell by 38 percent to CZK 1.9 billion. The British central bank is considering negative interest rates. CBA: Banks see no reason to renew the deferral of loan repayments. Bank of America's profit fell, Goldman Sachs almost doubled it. The economy will fall by eight percent this year, according to the banking association. BBC: Visa and Mastercard face accusations of excessive fees. UN: Foreign direct investment fell by 49 percent in the first half of the year. IMF: Africa needs $1.2 trillion to overcome the effects of Covid. The Czech National Bank revoked the license of Prague currency exchange Changer. Bubenik Partners: Changes in company management reflect current developments. Central banks appeal to governments to continue pumping money. Bundesbank urged German banks to prepare for a wave of insolvencies. Arca Capital agreed on financing with Blantyre Capital. HSBC bank profit fell by 35 percent to $3.1 billion. JP Morgan increased profit, while rival Citigroup earned less. Morgan Stanley buys asset manager Eaton Vance for $7 billion. Banks: Clients visit branches less, interest in online services is growing. IFIS filed an insolvency petition against the owner of Arca Capital. The Russian Central Bank improved its estimate of this year's economic development.