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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 decline expected in March, April will be worse. Survey: Seven percent of people lost their jobs during the epidemic. There is interest in new lung ventilators in many countries, said the company MICo. Analysts: Unemployment data points to economic recession. The Slovak Central Bank has worsened the outlook for economic development. YPO: 11 percent of company bosses around the world are afraid of bankruptcy. The economy is being crushed by the coronavirus, jobs are disappearing and the outlook is not good. State-owned EGAP fell into a loss of 2.38 billion crowns last year. Czechoslovak Group increased its profit by 54 percent to three billion last year. The Swiss economy is likely to decline the most in 45 years due to the coronavirus. Year-on-year inflation in Germany fell to its lowest level since 2016 in April. Analysts: The decline in industry will deepen in April. Bubenik Partners: Digital companies are coping best with the crisis. IHS: Activity in British factories fell to a record low in April. Meat production increased slightly in the first quarter, milk production also increased. Survey: The eurozone is in the deepest recession in its history. Experts: A COVID program should be created for hotels and restaurants. Reuters: Queues are growing in front of food banks on the outskirts of Paris.

Stock exchanges: Diamo is preparing a project to explore a gold deposit in the Jesenické region. The price of gold in euros has exceeded 1,600 euros for the first time. Goldman Sachs: Oil will increase in price by more than 100 percent by next year.

Finance: ČNB: March loan growth was affected by individual changes in installments. IPS: Billionaires' wealth in the US increased by 10 percent during the pandemic. ECB to start accepting lower-quality bonds as collateral due to virus. Household debt with banks rose by seven billion in March. ČS, KB, ČSOB and Moneta will be the first to join the smart quarantine. ČS's net profit fell by 19.8 percent in the first quarter to CZK 3.2 billion. Slovak banks' profit fell significantly in the first quarter. Deutsche Bank expects a profit for the first quarter, the market expected a loss. Banks will join the smart quarantine at the beginning of next week. The Czech Republic should now focus on returning to normal life, says Dušek. Patria: The budget deficit this year may be over half a trillion crowns. AKAT: Mutual funds have maintained investor confidence during the pandemic. ČBA: The crisis will mainly affect the service sector, a quick response is needed. Banks in Slovakia will ultimately not have to create higher reserves. Banks have received over a quarter of a million applications for deferral of loan repayments. Vice Governor of the Czech National Bank: The Czech Republic has the advantage of not being part of the eurozone. Index: The average price of compulsory insurance did not change in March. Credit Suisse increased its profit, but warned of the possible impacts of the virus. Golden Gate precious metals sellers increased their sales by 214 percent this year. The volume of bank loans in March increased by 27 billion to 6.16 trillion CZK. Fitch agency downgraded Italy's credit rating due to coronavirus. Deutsche Bank remained profitable in the quarter, the market expected a loss. MasterCard's net profit fell by seven percent, but exceeded estimates. The share of foreign investors holding Czech bonds has decreased.