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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: Proposal: Part of future EU employment money will go to transport. Switzerland has improved its outlook for this year's economic development. The production of a wood processing sawmill in Štětí has ​​been officially launched. The operation of BR Group is complicated by Covid-19, but production is being ensured. Analysts: The industry was unpleasantly surprised, September should be better. The EBRD expects a more significant economic decline in the countries where it operates. According to institutes, the recovery of the German economy is slowing. The average company spends 223 hours a year on paperwork, less than last year. Confidence in the German economy has deteriorated due to the virus and Brexit. Investor confidence in the eurozone economy has fallen for the first time in six months. Bloomberg: The virus has dragged a record number of large companies into losses in the US. CzechGlobe scientists oppose claims that warming will help the economy. Exporters expect a loss of 300 to 500 billion in exports due to Covid. MF sold bonds for 5.1 billion CZK, interest was greater. Deloitte in the Czech Republic withdrew a study on the impact of warming on the economy. Foxconn CZ's profit decreased by 120 million to 658 million CZK last year. China's economic growth accelerated to 4.9 percent in the 3rd quarter. Collection agencies: Debtors' payment morale has not deteriorated this year.

Stock exchanges: Supplies of building materials have fallen by up to 30 percent, miners report. USA introduces tariffs on aluminum sheets from 18 countries.

Finance: Banks: Customers visit branches less, interest in online services grows. Central banks appeal to governments to continue pumping money. World central banks are preparing their own digital currencies. Bubenik Partners: Changes in company management reflect current developments. Most funds have lost money this year, stocks an average of four percent. US airlines will cut more than 30,000 seats without further state aid. G20 extends loan repayment moratorium for poor countries. ECB is considering changing its current policy due to coronavirus. France will stimulate the economy with a package of 42 billion euros next year. As of September 18, banks had received 401,000 applications for loan repayment moratorium. Millions of bank accounts have been added in Latin America during the pandemic. VZP: Interest in flu vaccination has increased by a third in eight years. Komerční banka is acquiring assets in the financial company Roger. ČBA: Banks see no reason to renew the deferral of loan repayments. KPMG: Household finances are starting to feel the cooling of the economy. Housing loans rose by 30 percent year-on-year in August to CZK 17 billion. The World Bank will provide USD 12 billion for a vaccine for developing countries. Rusnok: The use of other monetary policy instruments is not necessary. EY: 7,500 jobs in the financial sector left Britain due to Brexit. IMF: Africa needs USD 1.2 trillion to overcome the impacts of Covid. Association: Interest in deferral of repayments is decreasing, Czechs are starting to pay off loans. JPMorgan will pay USD 920 million due to market manipulation. Almost two-thirds of Czechs actively use modern payment methods. Banks have confirmed to the Ministry of Finance their readiness to deal with the postponement of repayments individually. Finemo.cz: Approximately 400 seniors have used the reverse mortgage in five years.