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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: A five-day holiday in China will show how much people will return to travel. YPO: 11 percent of company bosses around the world are afraid of bankruptcy. US states are gradually easing restrictions, but the infection is still a threat. The committee assessed the Ministry of Finance's economic development estimates as optimistic. Digital companies want to support the recovery of the Czech economy. EY: The number of mergers and acquisitions in the Czech Republic fell by 13 percent last year to 282. The Budget Council estimated the public finance deficit at 4.3 pct. GDP. Association: Losses for carpenters will continue for another three months. The Ministry of Finance sold bonds for CZK 73.9 billion today, interest remains. The Ministry of Finance will propose exempting spilled beer from excise duty. AP: China is trying to revive the economy, but consumers are saving. Last year, ČEPS's pre-tax profit increased by more than a fifth to CZK 4 billion. Czechoslovak Group increased its profit by 54 percent to three billion last year. Unemployment in Germany rose to 5.8 percent in April. Confidence in the Czech economy fell by a record 19.6 points in April. WSJ: The pandemic may sever ties between the Chinese and US economies. The Swiss economy is likely to fall the most in 45 years due to the coronavirus. Experts: A COVID program should be created for hotels and restaurants. Year-on-year inflation in Germany fell to its lowest level since 2016 in April. Experts: The decline in confidence was expected, the numbers may improve in May. Bundesbank: Germany will recover from the recession slowly. CRIF: The measures have saved companies and entrepreneurs hundreds of billions of CZK. The economy is expected to shrink by up to 11 percent this year.

Stock markets: Analysts: Unprecedented drop in oil prices, stabilizing in summer. The price of gold in euros has exceeded 1,600 euros for the first time. WTI oil has fallen by 306 percent, sellers still have to pay.

Finance: American Express has significantly lower profits due to coronavirus. Deutsche Bank expects a profit for the first quarter, the market expected a loss. CBA: The crisis will mainly affect the service sector, a quick response is needed. Hypoindex: The average mortgage rate in March rose to 2.45 percent. IPS: The fortune of billionaires in the US increased by 10 percent during the pandemic. Index: The average price of third-party liability insurance did not change in March. Michl will propose to the central bank to reduce the rate to 0.5 percent. Patria: The budget deficit this year may be over half a trillion crowns. Leading Chinese banks have increased quarterly profits despite the coronavirus. Entrepreneurs have so far received 1.9 billion CZK in COVID programs. Fitch agency has worsened Italy's credit rating due to the coronavirus. S&P agency has confirmed the ratings of Italy and Britain. Banks in Slovakia will not have to create higher reserves after all. The ECB will start accepting lower-quality bonds as collateral due to the virus. Index: The average Czech investor in funds lost 10 percent this year. Deutsche Bank remained profitable in the quarter, the market expected a loss. Insurance companies have started to open some of their branches. Erste's profit fell by 38 percent in the first quarter due to the coronavirus. The Fed left interest rates unchanged, promised extensive support for the economy.