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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: Bloomberg: Virus has dragged a record number of large companies into losses in the US. Confidence in the German economy has deteriorated due to the virus and Brexit. Analysts: Lower unemployment is due to seasonality and government support. EU countries have not yet shown interest in the credit half of the crisis fund. Americans Milgrom and Wilson won the Nobel Prize in Economics. China's economic growth accelerated to 4.9 percent in the 3rd quarter. The value of cryptocurrency mergers in the first half exceeded the entire year of 2019. Survey: Half of smaller companies will have to cut costs. Analysts: The second wave of the pandemic has stopped the recovery from the 3rd quarter. Unemployment fell to 3.7 percent, but growth is expected by the end of the year. According to institutes, the recovery of the German economy is slowing down. Moravian-Silesian companies do not plan to close operations due to the coronavirus. Reuters: Interest in special EU bonds is at a record high. The South Korean economy returned to growth in the third quarter. The decline in Japanese exports slowed significantly in September. According to analysts, inflation will continue to fall. Foxconn CZ's profit decreased by 120 million to 658 million crowns last year. BR Group's operations are complicated by Covid-19, but production is being ensured.

Stock exchanges: Polyus has the largest gold deposit in the world in Siberia. In 2021, the price per troy ounce of gold will not exceed 2,000 USD on average.

Finance: PayPal increased its profit by 121 percent, helped by the coronavirus. Morgan Stanley bank significantly increased its profit thanks to trading. The World Bank will give 12 billion USD for a vaccine for developing countries. PPF Group plunged into a loss of 10.32 billion CZK in the first half of the year. Analyst: The price of gold will be 2.5 times higher by the end of the decade. BBC: Visa and Mastercard face accusations of excessive fees. Credit card issuer American Express's profit fell sharply. UN: Foreign direct investment fell by 49 percent in the first half of the year. CBA: Banks see no reason to renew the postponement of loan repayments. Association: Banks ready to help clients affected by the pandemic. Australia has reduced the base interest rate to a minimum due to coronavirus. The Russian Central Bank has improved its estimate of this year's economic development. The largest Swiss bank UBS doubled its quarterly profit. The British Central Bank is considering negative interest rates. Moneta's net profit for three quarters fell by 38 percent to 1.9 billion CZK. HN: ČSOB will eliminate 170 jobs at branches. IFIS has filed an insolvency petition against the owner of Arca Capital. Bank loans fell by 120 billion to 6.07 trillion CZK in September. According to Rusnok, the financial market has made great progress since the 1990s. According to the banking association, the economy will fall by eight percent this year. Schillerová: The Ministry of Finance will not propose another blanket postponement of loan repayments. Bubenik Partners: Changes in company management take into account current developments. Hypoindex: The average mortgage rate fell for the sixth time in a row in September. Banks: Clients visit branches less, interest in online services is growing. Almost two-thirds of Czechs actively use modern payment methods.