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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: Economists: Thanks to the new Nobel Prize laureates, auctions are common. The average company spends 223 hours a year on paperwork, less than last year. Year-on-year inflation fell to 3.2 percent in September, and is likely to continue to fall. Production of a wood processing sawmill in Štětí was officially launched. The British economy grew less than expected in August. Developer CTP reduced profit by 29 percent to CZK 2.7 billion, revenues increased. The EBRD expects a more significant economic downturn in the countries where it operates. The decline in the US economy was milder in the quarter than expected. Epiq: The number of corporate bankruptcies in the US has increased by a third so far this year. Škoda Auto once again paid the most in income tax to the state last year. IMF: The economic outlook is not as bad as expected. Exporters expect a loss of 300 to 500 billion in exports due to Covid. The Chinese boosted the domestic economy during the holiday week. Investor confidence in the eurozone economy fell for the first time in six months. The Slovak Central Bank improved the economic outlook. Americans Milgrom and Wilson won the Nobel Prize in Economics. French Vinci offers 5.2 billion euros for part of Spain's ACS.

Stock markets: The US imposes tariffs on aluminum sheets from 18 countries. Construction material supplies have fallen by up to 30 percent, miners report. The price of gold has fallen to a two-month low.

Finance: EY: 7,500 jobs in the financial sector have left Britain due to Brexit. Home Credit plunged into a loss of 16.8 billion CZK due to the pandemic. The Zonky loan provider has become part of Air Bank. The ECB is considering changing its current policy due to the coronavirus. KPMG: Household finances are starting to feel the cooling of the economy. Survey: An unexpected event has happened to 80 percent of Czechs in five years. The Czech National Bank has revoked the license of the Prague currency exchange Changer. Reuters: Deutsche Bank will close a fifth of its branches due to the virus. Survey: 70 percent of Czechs have experience with installment purchases. The American bank Citigroup must pay a fine of 400 million dollars. Finemo.cz: Approximately 400 seniors have used a reverse mortgage in five years. The British central bank is considering negative interest rates. Over 80 percent of Czechs believe that the price of life is incalculable. Airlines in the US will cancel more than 30,000 seats without further state aid. Bank loans rose by 13 billion to 6.19 trillion CZK in August. France will stimulate the economy next year with a package of 42 billion euros. Non-bank credit companies have rules for clients in moratorium. Hungary's central bank surprisingly increased the deposit rate. Household debts with banks rose to 1.819 trillion CZK in August. CBA: Banks see no reason to renew the deferral of loan payments. IMF: Africa needs 1.2 trillion USD to overcome the impacts of Covid. Analysts: The price of gold has increased by a quarter this year, silver by a third. Millions of bank accounts have been added in Latin America during the pandemic. As of September 18, banks had received 401,000 applications for deferral of payments. The Fed extended restrictions on banks' dividend payments and share buybacks.