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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: FAZ: UEFA will make a fortune from the football Euro, but the German taxpayer will cry. The balance of payments in the 1st quarter showed a surplus of CZK 104.7 billion. Unemployment in June remained at 3.6 percent, analysts expect a gradual increase. Analysts: The CNB Bank Board will further reduce rates, the question is how significantly. Today is the last day to exchange invalid banknotes with a thin stripe in banks. Coface: Czech companies are among the worst in the region in publishing financial statements. Analysts: Czech industry fell the most significantly in May since September last year. State debt increased by CZK 96.2 billion in the first half of the year to CZK 3.207 trillion. IMF warns of the impact of generative artificial intelligence on the labor market. Satisfaction with the standard of living of households is greater than with the country's economic situation. Study: Seven percent more entrepreneurs went bankrupt in the first half of the year. Study: 342 companies went bankrupt in the Czech Republic in the first half of the year, four more than a year ago. Analysts expect June inflation to be close to May's 2.6 percent. CNB: Czech households' debts to banks rose to CZK 2.293 trillion in May. Study: The Czech Republic has the highest corporate income tax among the V4 countries. Analysts: Global IT system outage dealt another blow to supply chains.

Stock exchanges: Norway discovered Europe's largest rare earth metal deposit. Verification unit for extracting manganese near Chvaletici is in continuous operation. The price of gold is at a record high, reaching above $2,482 per troy ounce this morning. Oil prices closed at their lowest levels since mid-June.

Finance: According to the Czech Banking Association index, the financial literacy of Czechs has not changed. CNB: Banks' net profit in the first quarter increased by 22 percent to CZK 25.9 billion. According to its boss, the Fed needs more evidence of a decline in inflation before it cuts interest rates. KB signed a memorandum aimed at buying back the remaining stake in SGEF CR.. The Japanese central bank did not change interest rates, but intends to limit bond purchases. The profit of Russia's Sberbank could be a record again this year, said the financial director. The British central bank, as expected, left interest rates unchanged. The Moscow Stock Exchange stopped trading in dollars and euros due to sanctions. Russia's largest bank Sberbank increased its profit in the first half of the year. ÚOHS: SAB Financial Group buys a controlling stake in Trinity Bank. China has cut two key interest rates, wants to stimulate the economy. According to its boss, the Polish central bank will cut interest rates again in 2026 at the earliest. UniCredit: Central and Eastern European economies will grow by 2.7 percent this year. Allianz Trade: The world economy should grow by 2.8 percent this year and next. The global outage affected 8.5 million Windows devices, Microsoft estimated. Creditas Bank has acquired more than a 50 percent stake in NEY Savings Cooperative. Survey: 55 percent of people in the Czech Republic manage to save regularly, more than a year ago. Reuters: Central bankers in Central Europe are concerned about rapid wage growth. China has cut another key interest rate in an effort to support the economy. Bain Capital to buy financial software supplier Envestnet for $4.5 billion. KKCG to issue bonds worth at least five billion crowns. Partners enters Romania, acquires a third of Transilvania Broker de Asigurari. J&T Arch fund becomes second-largest shareholder in Tatra mountain resorts. Sky News: Who will pay for the world's worst IT outage?. US banks pass Fed stress tests, would survive a sharp decline in real estate.