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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: Investor and analyst confidence in the German economy has fallen slightly. Industry and construction are not doing well, the EC has worsened its estimate of the economic downturn. Analysts: The impact of the pandemic on unemployment will be noticeable in the fall. SB: The Russian economy will fall by six percent this year, the most since 2009. Maláčová: The priority of the reform is pensions for demanding professions and educational benefits. The South Korean economy fell into recession in the second quarter. Foreign entrepreneurs bought a third fewer Czech companies this year. Deník N: Zbrojař Strnad is moving the company's headquarters from the Netherlands to the Czech Republic. The earnings season begins in the US, probably the worst since the financial crisis. Exports from Germany continued to fall sharply in May. Prices in industry slowed down, agricultural prices fell significantly. Explosia ended last year with a loss of 129 million crowns. Mazars: Half of investors expect revenue growth in the next 12 months. The Ministry of Labor and Social Affairs is preparing a set of measures for a possible increase in unemployment. Bubenik Partners: Managers' interest in online companies is growing. US dollars are returning to shops in Cuba due to Covid. A record 4.8 million jobs were created in the USA in June. IMF: The US economy faces risks and a long road to recovery. The Chamber of Commerce opened a warehouse for supplies of protective equipment. Global consumer confidence fell to a record low in the quarter.

Stock exchanges: Gold is the most expensive in nine years, silver since 2013. HN: Kellner's PPF sold part of the shares of the Russian miner Polymetal. Gold is the most expensive since 2011, the price is just below 1800 USD. Gold and Bitcoin gained value in the first half of the year, oil prices fell.

Finance: Goldman Sachs bank has higher profit, exceeded expectations. IMF is concerned about the independence of the Ukrainian central bank. KB shareholders decided not to pay shareholders a dividend. CBA: The volume of new mortgages fell by five percent in May to 14.8 billion. Pan-European payments system could be in 2022. According to the CNB, companies drew 12 billion CZK from COVID programs as of July 10. Survey: The financial situation of a third of Czechs worsened during the pandemic. Wüstenrot - building society will become Moneta Building Society. The number of vacancies in the British financial sector has fallen by 60 percent. CNB: The number of complaints about exchange offices fell by half last year. The new head of the Ukrainian central bank promised to maintain independence. The Slovak central bank has tentatively reduced the reserve ratio for banks. The financial firm Ant from the Alibaba group plans to enter the stock exchange. Royal Bank of Scotland is changing its name to NatWest after 300 years. Survey: After the crisis, 34 percent of Czechs started paying by card in restaurants. AP: The hottest commodity in Lebanon is the US dollar. The COVID plus program has been expanded to include transportation and tourism. TransferWise is now also allowed to offer investment services in Britain. UBS has lower profits due to the pandemic, but it has exceeded estimates. The profit of the largest American bank JPMorgan has fallen by more than half. Deutsche Bank is considering helping its banking division, which is failing Wirecard.