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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: Analysts: Retail sales fell in March, April will be worse. Older home sales in the US fell the most in a decade. The British economy fell the most since the 2008 financial crisis. Economists expect the bottom of the economic downturn to be in the second quarter. Retailers' sales fell by 8.9 percent in March due to the coronavirus. Survey: Larger businesses want the Antivirus program to continue. Hamáček: The key is to get an adequate amount of money into the economy. According to an expert, forest degradation threatens state security. Reuters: Central European businesses see an opportunity in the crisis. House committees support laws, MPs propose further measures. The US is working to reduce dependence on supplies of goods from China. Bubenik Partners: Digital companies are coping best with the crisis. Employers are asking for social security payments to be waived. Japanese exports in April fell the most since the global financial crisis. Survey: 73 percent of CFOs want to make working from home easier. According to the central bank, the Australian economy is facing a record recession. Foreign trade in March disappointed, April will be even weaker. April's budget deficit of CZK 94 billion is the worst since the founding of the Czech Republic. German economist recommends eliminating VAT on some goods for recovery. Saudi Arabia will triple the VAT rate due to coronavirus and oil.

Stock exchanges: The new head of Geomet, which is researching lithium, is Pavel Čmelík from ČEZ. The coronavirus in Israel has also hit the diamond market hard. Metal coating will improve the properties of tools from common 3D printers.

Finance: Fed: Coronavirus has mostly put people with lower incomes out of work. Banks will not immediately respond to the CNB's key rate cut. Fed chief: A vaccine will probably be needed for the economy to fully recover. The British central bank is not yet considering negative interest rates. The Fed warns of the vulnerability of the financial sector due to the pandemic. The Norwegian central bank surprisingly cut interest rates to zero. Analysts: Gold is the most expensive in seven years, the price may continue to rise. Banks have gradually begun to open their entire branch network. Komerční banka's profit fell by 16.3 pct in the first quarter to CZK 2.7 billion. Banks are completing preparations for providing loans from Covid III. Fed chief warned of a longer-term slowdown in the US economy. The Bank of Japan has its first female executive director. Czech Republic: Card transactions confirm sharp decline in household consumption. Czech National Bank expects an eight percent economic decline this year in its new forecast. UniCredit Bank in the Czech Republic and Slovakia saw its profit fall by 55 percent in the first quarter. The Czech National Bank cut rates today and expects an eight percent economic decline. HN: Disclosure of companies in COVID III does not violate banking secrecy. Fio banka's profit increased by 28 percent this year to CZK 376 million. Air Bank's net profit fell by five percent this year to CZK 321 million. Italian bank UniCredit fell into losses due to write-offs. PPF gave 200 million to the fight against coronavirus, aid also went to the USA. Fed chief does not expect a repeat of the crisis from the 1930s.