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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: Study: Seven percent more entrepreneurs went bankrupt in the first half of the year. Analysts: The June reduction in inflation to the CNB target is surprising, the crown weakened. Study: 342 companies went bankrupt in the Czech Republic in the first half of the year, four more than a year ago. Analysts: The June decline in construction indicates a major problem in the sector. Unemployment in June remained at 3.6 percent, analysts expect gradual growth. Sentix: Investor confidence in the eurozone economy fell again, is the lowest since January. Study: Companies have lost the ability to come up with real innovations. Analysts: The May foreign trade result fell short of market expectations. Dun & Bradstreet: The number of unreliable VAT payers has increased this year. Slovakia's trade surplus in May was at this year's low of 367 million euros. Analysts: Czech industry fell the most in May since September last year. The volume of wealth per person increased the most in Turkey, despite inflation. Germany is still at risk of a gas shortage due to extreme cold, the INES association warned. Goldman Sachs analysts have increased the probability of a recession in the US to 25 percent. Analysts expect a slowdown in the decline in the CNB's base interest rate. The Czech construction industry continues to decline, its year-on-year decline accelerated to 10.2 percent in June. Analysts: The CNB's Bank Board will continue to cut rates, the question is how significantly.

Stock exchanges: The verification unit for extracting manganese near Chvaletic is in continuous operation. BHP and Ludnin are buying copper miner Filo for 4.5 billion Canadian dollars. Ball Aerosol aluminum can manufacturers in Velim saw their profits rise to 566 million CZK last year. Oil prices closed at their lowest levels since mid-June.

Finance: The British central bank cut its base rate by a quarter of a point to five percent. China cut two key interest rates, wanting to stimulate the economy. Morgan Stanley increased its profit by 41 percent, but Bank of America's profit fell. Index: The average Czech investor in funds earned 5.7 percent in the first half of the year. China cut another key interest rate in an effort to support the economy. UniCredit Bank: Wealth is concentrated in men's accounts. A third of central banks intend to increase gold reserves in the next 12 months. The Russian central bank recommends that companies avoid sanctions using cryptocurrencies. According to its boss, the Polish central bank will cut interest rates again in 2026 at the earliest. Bain Capital will buy financial software supplier Envestnet for USD 4.5 billion. Commodity prices on the markets increased in the first half of the year, the index added three percent. JPMorgan Chase significantly increased its profit in the quarter, Wells Fargo bank fell. Banks provided mortgages for CZK 24.2 billion in June, the most since March 2022. Partners enters Romania, acquires a third of Transilvania Broker de Asigurari. CNB: Banks' net profit increased by 22 percent in the first quarter to CZK 25.9 billion. Buffett's Berkshire Hathaway increased its profit by 15 percent to USD 11.6 billion. Kellnerová: I got to know PPF after my husband's death, I was more decisive last year. J&T Arch fund became the second largest shareholder of Tatry mountain resorts. Two members of the Czech National Bank's board disagreed with a new reserve for banks. FT: Fintech company Revolut is preparing to sell shares for up to $500 million. Russia's largest bank Sberbank increased its profit in the first half of the year. KB signed a memorandum aimed at buying out the remaining stake in SGEF CR.. Česká spořitelna's net profit rose by a third to CZK 12.4 billion in the first half of the year. Analysis: Banks are reducing interest rates on savings accounts, the highest being mostly below five percent.