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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: Year-on-year inflation in October is estimated to have fallen below three percent. Bain: Sales from luxury goods sales will fall to a record low this year. Moore CR Group has taken over the Brno-based company Audit - Daně. Goldman Sachs predicts a decline instead of growth for the eurozone. A record 314,000 people lost their jobs in Britain in the quarter. Growth in business activity in the eurozone has stalled due to the virus. Sales in services fell by 12 percent in the third quarter. Economic sentiment in Slovakia has risen, again affected by the pandemic. According to analysts, inflation will remain below three percent for the rest of the year. The Japanese economy has emerged from recession, growing at its highest rate since 1980. Bisnode: The same number of companies are going out of business this year as last year, when it was a record. CRIF: The number of corporate and business bankruptcies fell in October. Inflation in the EU rose slightly again, fell again in the eurozone. The German economy grew sharply, the government improved its outlook. 83 percent of companies felt the negative consequences of the epidemic, Ipsos found. The Slovak economy grew by double digits after the previous decline.

Stock exchanges: World Gold Council: Demand for gold is the weakest in 11 years. Bloomberg: Canadian company wants to mine "green" gold in Iceland.

Finance: Analysis: You can pay up to 95,000 more for an annual loan of 50,000 CZK. Buffett sold some of his Apple shares and invested in pharmaceuticals. In an alternative estimate, the Czech National Bank expects GDP to decline next year as well. Erste Group's profit fell by almost half. Zahálková is the new executive director of the Czech Banking Association. Household debt with banks rose to 1.831 trillion crowns in September. ČSOB's net profit fell by 57 percent this year to 6.3 billion CZK. IIF: Global debt will rise to a record 277 trillion USD due to the virus. According to estimates, the Czech National Bank will leave interest rates unchanged on Thursday. ECB: Bank profits will remain weak for now, restructuring is needed. Banking Association: The share of non-performing loans is at a record low. RegioJet received a loan guarantee of 375 million CZK. PayPal increased its profit by 121 percent, helped by the coronavirus. The profit of the four largest banks fell by 21.5 billion to 24.5 billion CZK. CNB note: There is no immediate reason to change the rate setting. The largest Russian bank Sberbank sharply increased its quarterly profit. Partners has received a license from the Czech National Bank to operate a pension company. Association: Non-banking companies provided 18 percent less money this year. Survey: The interest rate is the most important factor in a savings account. Spanish bank BBVA will sell PNC's American activities for USD 11.6 billion. Schillerová: The Ministry of Finance will not propose another blanket moratorium on loan repayments. The Czech National Bank left interest rates unchanged and improved this year's GDP forecast. Deutsche Bank surprisingly returned to profit in the quarter. Komerční banka's profit fell by 45 percent to CZK 6.1 billion in three quarters. Banks have begun to individually resolve repayment problems with clients. Banks are limiting branch opening hours due to coronavirus. Hypoindex: The average mortgage rate in October fell for the seventh time in a row.