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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. According to analysts, inflation will continue to fall. French Vinci offers 5.2 billion euros for part of Spanish ACS. Economic sentiment in Slovakia has risen, again affected by the pandemic. Moravian-Silesian companies do not plan to close operations due to coronavirus. Deloitte in the Czech Republic has withdrawn a study on the impact of warming on the economy. According to institutes, the recovery of the German economy is slowing. Reuters: Interest in special EU bonds is at a record high. Production of a wood processing sawmill in Štětí was ceremonially launched. EU countries have not yet shown interest in the credit half of the crisis fund. Economists: Auctions are common thanks to new Nobel laureates. Bloomberg: The virus has dragged a record number of large companies into losses in the US. The decline in Japanese exports slowed significantly in September. CRIF: There are 24,000 companies in the Czech Republic that are unreliable in paying VAT. The US economy grew at a record pace of 33.1 percent in the quarter. Switzerland improved its outlook for this year's economic development. SB: Coronavirus may plunge 150 million people into extreme poverty. Foxconn CZ's profit fell by 120 million to 658 million crowns last year.

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

Finance: The Russian Central Bank has improved its estimate of this year's economic development. IFIS files insolvency petition against Arca Capital owner. British central bank considers negative interest rates. ECB intensifies work on digital euro. Bohemia Energy Group company buys Energie ČS supplier. CNB survey: Banks report tightening lending to companies. Banks confirm MF's readiness to address repayment deferrals individually. Morgan Stanley buys asset manager Eaton Vance for USD 7 billion. Arca Capital agrees financing with Blantyre Capital. Bundesbank calls on German banks to prepare for wave of insolvencies. Switzerland's largest bank UBS doubles quarterly profit. Bank loans rose by CZK 13 billion in August to CZK 6.19 trillion. Russia's largest bank Sberbank sharply increases quarterly profit. Zahálková is the new executive director of the Czech Banking Association. American Express credit card issuer's profit fell sharply. BBC: Visa and Mastercard face charges of excessive fees. Most funds have lost money this year, with stocks averaging four percent. Hypoindex: The average mortgage rate fell for the sixth time in a row in September. Association: Banks ready to help clients affected by the pandemic. Andorra joined the International Monetary Fund. American bank Citigroup must pay a fine of $400 million. Bubenik Partners: Changes in company management reflect current developments. JP Morgan increased profits, while rival Citigroup earned less. Analyst: The price of gold will be 2.5 times higher by the end of the decade.